BNB Breaks Records, PENGU Goes Penguin Mode

Plus: Why corporate treasuries are suddenly ETH-curious 👇

Author

Macro Point Daily
July 23, 2025

👋 Welcome Back to Macro Point Daily, The smartest crypto take of the day — macro trends, market moves, daily charts, and a side of memes.

Every day we provide the 5 stories which matter most in crypto, and one just for the degens.

In Today’s Edition

  • 🚀 BNB hits fresh ATH above $800, flips SOL

  • 📊 Bitcoin holds $118K as institutional flows strengthen

  • 🏢 Ethereum treasury plays heat up with $1.5B SPAC

  • 🐧 PENGU rockets 40% weekly on meme momentum

  • ⚡ Corporate balance sheets eye ETH adoption

  • 🎯 Fund manager drops $1.5M ETH price bomb

Let’s dive in.👇

Today’s Edition

📌 BNB Smashes All-Time Highs as Binance Ecosystem Heats Up

BNB just flipped Solana to become the fourth-largest crypto by market cap, hitting a fresh all-time high above $800.

The surge comes amid a broader crypto market rally, with Bitcoin (BTC) trading at $118,600, up 1.3% over the past 24 hours, and Ethereum (ETH) holding steady above $3,700. The breakout appears driven by increased activity across Binance's ecosystem, including heightened trading volumes and new product launches. BNB's rally reflects growing confidence in centralized exchange tokens as institutional adoption accelerates. With regulatory clarity improving globally, exchange tokens are positioning themselves as infrastructure plays rather than just utility tokens.

  • 🎯 BNB market cap now exceeds Solana's $180B valuation

  • 📈 Trading volumes surge 47% to $208B across crypto markets

  • 🔥 Binance ecosystem sees renewed institutional interest

📈 Corporate Treasuries Signal ETH Adoption Wave Coming

Companies are increasingly eyeing Ethereum as a treasury asset, following the corporate Bitcoin playbook pioneered by MicroStrategy.

Companies are increasingly looking at ethereum as an asset to own as the financial services industry and crypto world converge. The shift comes as institutional infrastructure matures and yield-generating opportunities through staking become more accessible. Unlike Bitcoin's pure store-of-value narrative, Ethereum offers treasury departments both capital appreciation potential and income generation through validator staking. An Ethereum treasury firm has agreed to go public in a blank-check company merger backed by more than $1.5 billion of crypto and stock financing, joining the rush of digital assets heading to public markets.

  • 💼 Treasury firms targeting $1.5B+ public market debuts

  • 🏦 Financial services convergence accelerating adoption

  • ⚡ Staking yields add income component vs Bitcoin

📉 Ethereum Technical Breakout Shows Institutional Strength

Ethereum is trading well above all major moving averages with an RSI of 82.66, signaling strong institutional momentum despite overbought conditions.

A surge in demand, particularly from ETFs, pushed the average quarterly gold price to a record high. The chart would show gold-backed crypto token creation spiking alongside declining central bank purchases, indicating retail and institutional investors are turning to tokenized gold as an alternative store of value. This trend reflects growing confidence in crypto-based precious metals exposure and could signal broader adoption of tokenized commodities. The divergence between central bank behavior and crypto-gold demand suggests evolving market dynamics in the digital assets space.

  • 🥇 Gold-backed token minting hits 3-year peak

  • 📈 ETF demand drives record quarterly prices

  • 🏦 Central bank buying drops as crypto fills gap

📈 The $1.5M Ethereum Call That's Not As Crazy As It Sounds

EMJ Capital's Eric Jackson dropped a bombshell prediction that ETH will hit $1.5 million "over time," and his reasoning deserves attention.

"ETH goes to $1.5M over time," EMJ Capital founder Eric Jackson said Sunday in a thread on X. The prediction would be ambitious even for Bitcoin, the largest cryptocurrency. While the number sounds astronomical, Jackson's thesis centers on Ethereum's evolution into the internet's settlement layer for everything from DeFi to tokenized real-world assets. With corporate treasuries now entering the space and staking providing sustainable yield, Ethereum could capture value across multiple economic sectors. The prediction timeframe of "over time" suggests decades, not years—making it less moon-boy prediction and more long-term infrastructure thesis.

  • 🎯 $1.5M target based on settlement layer thesis

  • 🏢 Corporate adoption accelerating fundamental demand

  • ⏰ "Over time" suggests multi-decade investment horizon

🛠️ Ethereum Treasury SPAC Goes Live With $1.5B Backing

A new Ethereum-focused treasury company just announced its public debut through a $1.5 billion SPAC merger, bringing institutional ETH exposure to traditional markets.

The latest crypto treasury company has an ambitious plan to build the largest public vehicle for institutional exposure to ether. The firm positions itself as the "MicroStrategy of Ethereum" but with a crucial difference—yield generation through staking. This approach addresses corporate treasury managers' need for both capital appreciation and income generation. The SPAC structure allows traditional investors to gain ETH exposure without direct crypto custody, potentially opening the floodgates for corporate adoption.

  • 💰 $1.5B SPAC brings ETH to traditional markets

  • ⚡ Staking yields provide income component for treasuries

  • 🏢 Targets corporate adoption through familiar structure

Degen Domain

🐸 PENGU Goes Full Penguin Mode With 40% Weekly Surge

Pudgy Penguins (PENGU) is absolutely ripping faces off with a 21% daily gain and 40% weekly surge, currently trading around $0.044.

Meme coin Pudgy Penguins (PENGU) continues its momentum, soaring over 40% in the past week and gaining another 21% in the past 24 hours, with a 24-hour trading volume of $2,615,851,619.83. The Solana-based meme coin has a market cap pushing toward $3 billion, making it one of the largest meme coins by valuation. What makes PENGU different is its roots in the blue-chip Pudgy Penguins NFT collection, giving it actual brand recognition beyond typical meme coin chaos. Pudgy Penguins (PENGU) meme coin is stabilizing around $0.032 at the time of writing on Wednesday, after gaining over 121% in the last 7-day timeframe.

  • 🐧 $3B market cap puts it in meme coin elite tier

  • 📈 $2.6B daily volume shows serious institutional interest

  • 🎯 NFT brand backing provides narrative beyond hype

💬 Quote of the Day

"In crypto, the only thing more dangerous than missing the rally is chasing it at the top." 

— Anonymous DeFi Degen

See you tomorrow. Forward to a friend who still thinks ETFs are boring. Not financial advice/ do your own research. Adios.

📉📈🧠🫡
— Macro Point Daily