Markets Hold Steady as Ethereum Tests New Highs

Plus: the Solana meme coin making degens rich 👇

Author

Macro Point Daily
July 29, 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

  • 📊 ETH challenges $4K resistance amid treasury accumulation

  • 📉 Bitcoin consolidates around $117K after institutional selling

  • 🏛️ Congressional crypto bills face August recess deadline

  • 🚀 Solana DeFi hits multi-year TVL highs on meme activity

  • 💼 Companies adding ETH to balance sheets beyond Bitcoin

  • 🐸 Solana meme coins surge 31% in retail frenzy

Let’s dive in.👇

Today’s Edition

📌 Ethereum Tests Critical $4K Level as Corporate Treasuries Double Down

ETH treasury buying and consistent spot ETF inflows have pushed Ethereum within striking distance of the psychological $4,000 resistance level, though momentum appears to be stalling.

The second-largest cryptocurrency by market cap continues to face headwinds despite institutional interest and BlackRock's recent filing to add staking capabilities to its ETHA ETF. Market analysts point to the need for a decisive break above $4,000 to avoid a potential correction back toward the $3,500 support zone. Companies are now adding ethereum to their balance sheets beyond just Bitcoin, with the asset surging 50% over the past month to hover near its highest level since January. The key question remains whether corporate adoption can provide the catalyst needed to reclaim ETH's 2021 highs above $4,600.

  • 📈 ETH up 50% in past month, testing multi-month highs

  • 🏢 Corporate treasuries expanding beyond Bitcoin holdings

  • ⚠️ Critical $4K resistance could determine next directional move

📈 Congressional Crypto Bills Face August Deadline Crunch

The US House of Representatives will enter August recess, leaving the Senate with just one week to address pending crypto legislation before lawmakers break.

This timing creates urgency around several key bills that could shape the regulatory landscape for digital assets heading into the final months of 2025. Market participants are closely watching for any last-minute legislative movement that could impact institutional adoption rates. The compressed timeline means any bills not addressed this week will likely be pushed to September, potentially creating regulatory uncertainty during a traditionally volatile period for crypto markets. This political calendar adds another layer of complexity to an already delicate market structure testing key technical levels.

  • 🏛️ House recess leaves Senate one week for crypto bills

  • ⏰ September delay possible if no action taken this week

  • 📊 Regulatory uncertainty could impact institutional flows

📉 DeFi Market Share: Ethereum's Dominance vs Rising Challengers

Chart shows Ethereum maintaining nearly 60% of total DeFi market share despite growing competition from Solana and emerging chains.

Ethereum leads the DeFi boom with nearly 60% market share, while advanced yield strategies and rising activity on Solana and Sui drive cross-chain growth. The visualization highlights how newer chains are carving out meaningful market share through innovative yield mechanisms and lower transaction costs. The Solana Meme market cap today is $15.1 Billion, a -0.1% change in the last 24 hours, demonstrating how meme coin activity is driving broader ecosystem growth. This data suggests we're entering a more competitive multi-chain environment where Ethereum's first-mover advantage faces real challenges from faster, cheaper alternatives.

  • 📊 ETH holds 60% DeFi dominance but competitors gaining

  • 🔗 Cross-chain activity accelerating on Solana and Sui

  • 💰 Solana meme market hits $15.1B market cap

📈 Corporate Ethereum Adoption Reaches Inflection Point

Beyond MicroStrategy's Bitcoin strategy, a new wave of companies is adding Ethereum to corporate treasuries as a hedge against traditional assets.

It's not just bitcoin. Companies are now adding ethereum to their balance sheets, with Ethereum surging 50% over the past month to hover near its highest level since January. This shift represents a maturation of corporate crypto adoption, where treasurers view ETH's yield-generating capabilities and DeFi integration as compelling value propositions. The firm has begun accumulating XRP as part of a $10 million crypto treasury plan, sending shares up 12%. The trend suggests we're moving beyond Bitcoin-only treasury strategies toward diversified crypto portfolios that can generate yield through staking and DeFi protocols.

  • 🏢 Corporate treasuries diversifying beyond Bitcoin-only strategies

  • 💰 ETH's staking yield attractive to institutional balance sheets

  • 📈 Treasury announcements driving 12%+ stock price bumps

🛠️ Solana DeFi Ecosystem Hits Multi-Year TVL Milestone

Solana's total value locked (TVL) has reached multi-year highs, driven by explosive growth in meme coin trading and innovative DeFi protocols.

Solana already cruising at $200.69 reflects the broader ecosystem momentum as developers launch new trading tools and yield strategies. Snorter Token ($SNORT) is not another meme coin; it's the utility token for Snorter Bot, a game-changing Telegram-based trading platform that exemplifies how builders are creating real utility around speculative assets. The combination of low fees, high throughput, and memecoin-driven activity is attracting both traders and long-term DeFi users to the ecosystem. This infrastructure growth positions Solana as a serious competitor to Ethereum's DeFi dominance.

  • 🔧 TVL hitting multi-year highs on protocol innovation

  • 🤖 New Telegram trading bots driving utility adoption

  • ⚡ Low fees enabling high-frequency meme trading strategies

Degen Domain

🐸 Solana Meme Coins Rally 31% as Retail FOMO Returns

Solana meme coins surged 31% in the latest retail buying frenzy, with traders targeting potential "supercycle" gains heading into the final months of 2025.

Solana Surges Past $200 as Meme Coins Spike 31%, Retail Frenzy, and Pro-Crypto Legislation Fuel Momentum The rally is being driven by a combination of technical breakouts and renewed retail interest in high-risk, high-reward plays. Strong community support fosters rapid innovation and hype cycles but traders should note that prices swing wildly, sometimes dropping 90% in hours and frequent rug pulls remain a constant threat. Popular tokens seeing action include established players and new launches, though the usual warnings about doing your own research apply more than ever in this volatile sector.

  • 🚀 31% surge driven by retail FOMO and technical breakouts

  • ⚠️ 90% drawdowns possible within hours on most tokens

  • 🎯 Traders positioning for potential Q4 "supercycle" gains

💬 Quote of the Day

The market can remain irrational longer than you can remain solvent." 

— John Maynard Keynes

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

📉📈🧠🫡
— Macro Point Daily