The week of July 1, 2025, marks a pivotal moment in the cryptocurrency landscape, with major regulatory developments, token mergers, and network upgrades shaping market momentum. From the potential approval of a spot Ethereum ETF to the highly anticipated ASI token consolidation, this week delivers significant catalysts for investors and blockchain enthusiasts alike.
Key Highlights This Week
- Spot Ethereum ETF could be approved as early as July 4, signaling a major regulatory milestone.
- ASI token merge begins July 1, consolidating FET, AGIX, and OCEAN into a unified AI-focused ecosystem.
- Multiple token unlocks across SUI, IO, DYDX, and others may impact short-term price dynamics.
- Scroll’s Curie upgrade on July 3 introduces data compression to reduce L2 gas fees by up to 50%.
- Blast’s Particle protocol launches its TGE on July 2, introducing leveraged trading to the ecosystem.
Core keywords: Ethereum ETF, ASI token merge, crypto token unlock, Scroll gas fee reduction, Particle TGE, MerlinSwap airdrop
July 1: Major Token Mergers and Exchange Updates
Binance Delists FET, OCEAN, AGIX Ahead of ASI Launch
Binance will cease trading and delist all existing FET, OCEAN, and AGIX spot pairs on July 1 at 11:00 AM (UTC+8). This move aligns with the broader consolidation of three leading AI blockchain projects—Fetch.ai, Ocean Protocol, and SingularityNET—into a unified entity under the Artificial Superintelligence (ASI) alliance.
Token conversion will follow this ratio:
- 1 FET = 1 ASI
- 1 OCEAN = 0.433226 ASI
- 1 AGIX = 0.433350 ASI
Binance will open ASI trading pairs—including ASI/USDT and ASI/BTC—on July 5 at 4:00 PM (UTC+8).
👉 Discover how to prepare for major token transitions like the ASI merge.
Uphold Restricts Stablecoin Support Due to MiCA Regulations
Effective July 1, Uphold will discontinue support for several stablecoins—including USDT, DAI, FRAX, GUSD, USDP, and TUSD—due to compliance requirements under the European Union’s Markets in Crypto-Assets (MiCA) regulation. Users are advised to convert holdings before June 27 to avoid automatic conversion to USDC.
This reflects growing regulatory alignment across Europe and underscores the importance of platform adaptability in a maturing crypto market.
ASI Token Merge Begins: First Phase via FET Conversion
The ASI token merger officially kicks off on July 1, with the first phase involving a temporary conversion of AGIX and OCEAN into FET tokens through the SingularityDAO dApp. Users can swap:
- 1 AGIX → 0.433350 FET
- 1 OCEAN → 0.433226 FET
After consolidation, all FET tokens—including original holdings and converted amounts—will be upgraded 1:1 into ASI. This strategic merger aims to unify AI-driven decentralized networks into a scalable superintelligence framework.
dYdX Slashes Monthly Token Unlock by 75%
Starting July 1, dYdX reduces its monthly DYDX token unlock from 33 million to just 8.3 million, a 75% decrease. This tighter supply schedule is expected to reduce selling pressure and could support long-term price stability as the platform continues transitioning toward full decentralization.
Aleo Launches Testnet Beta Incentive Program
Privacy-focused layer-1 blockchain Aleo launches its final pre-mainnet incentive program from July 1–15, rewarding validators with up to 1 million mainnet credits based on testnet participation. The initiative aims to stress-test coinbase mechanics and cryptographic puzzles ahead of mainnet launch.
Minimum reward: 1,000 mainnet credits—offering early contributors tangible value upon network go-live.
Opyn Markets Launches Landing Page for Perpetuals Platform
DeFi innovator Opyn launches the landing page for Opyn Markets on July 1—a new protocol enabling perpetual contracts across any asset class. The platform will support linear, stablecoin-collateralized, and options-style perps, expanding hedging and speculation tools in decentralized finance.
Governance & Airdrop Opportunities
MerlinSwap Finalizes Second Airdrop Vote
The MerlinSwap second-phase airdrop proposal concludes voting on July 1. If passed, 2% of total MP supply (420 million tokens) will be distributed as follows:
- 20% to IDO participants
- 20% to users who purchased over $100 worth of MP
- 60% to esMP supporters (stakers and boosters prioritized)
This distribution reinforces community-driven growth within the Merlin ecosystem.
TAIKO Airdrop Deadline Approaches
Users have until July 5 to claim their share of 50 million TAIKO tokens (5% of initial supply) in the first airdrop phase. Eligible participants include:
- Taiko proposers and bridge users
- Galxe points holders
- Developers and GitHub contributors
- Loopring community members
A small ETH deposit is required to cover gas when claiming via the official portal.
Notable Token Unlocks This Week
Large token unlocks can influence market sentiment due to potential sell pressure. Here are key events:
July 1
- SUI: 64.19M tokens unlocked (~2.65% of circulating supply, ~$50.7M)
- IO: 7.5M tokens unlocked (~7.89%, ~$24M)
- DYDX: 8.33M tokens (~3.12%, ~$11.3M)
- MAV: 36.4M tokens (~14.56%, ~$9.6M)
- ZETA: 5.29M tokens (~1.92%, ~$4.2M)
July 5
- GAL: 3M tokens (~2.60%, ~$6.6M)
- LQTY: 657K tokens (~0.68%, ~$560K)
👉 Stay ahead of token unlock impacts with real-time market insights.
July 2–3: Network Upgrades and New Launches
Particle Protocol TGE on July 2
Blast ecosystem’s leveraged trading protocol, Particle, launches its token generation event (TGE) on July 2 at 6:00 PM (UTC+8). Key details:
- Max supply: 200 million PTC
- Community allocation: 55%
- Initial airdrop: 20 million PTC (vested over 24 months)
- Investor & team tokens locked for 6 months
This launch expands Blast’s DeFi utility with margin trading capabilities.
Scroll Implements Curie Upgrade on July 3
Scroll, an Ethereum zk-rollup, rolls out its Curie upgrade on July 3, introducing:
- Data availability (DA) compression to cut L1 data costs
- EIP-1559 and EIP-2930 transaction support
- More predictable gas fee model
The upgrade is projected to reduce gas fees on Scroll by up to 50%, improving scalability and user experience.
Ronin Executes Goda Upgrade
Ronin Network completes its Goda hard fork on July 3 at block 36,052,600, including:
- Trippp fork: Enables daily block rewards for all validators
- Aaron fork: Adds upgradeability to Axie & Land smart contracts
These improvements enhance network security and future development flexibility.
July 4: Regulatory Crossroads for Ethereum ETF
SEC May Approve Spot Ethereum ETF
Multiple sources, including Reuters and Bloomberg analysts, indicate the U.S. Securities and Exchange Commission (SEC) could approve a spot Ethereum ETF as early as July 4. Firms like BlackRock, VanEck, and Grayscale are finalizing minor amendments to their filings.
One legal advisor described negotiations as needing only “final touches,” suggesting approval is imminent. If greenlit, this would mark a watershed moment for crypto adoption—similar to Bitcoin ETFs in early 2024.
UK Holds General Election Amid Crypto Policy Shift
Coinciding with the ETF news, the UK holds a general election on July 4. While the pro-crypto Conservative Party has championed digital asset regulation, polls favor the Labour Party. Though Labour hasn’t detailed crypto policy, it supports tokenization initiatives and the Bank of England’s digital pound project.
Market watchers are assessing how a potential shift in government might affect London’s ambitions to become a global crypto hub.
Frequently Asked Questions (FAQ)
Q: What happens to my AGIX and OCEAN tokens during the ASI merge?
A: AGIX and OCEAN will first convert into FET at fixed rates via SingularityDAO dApp. Later, all FET—including original holdings—will become ASI at a 1:1 ratio.
Q: When will I receive my MerlinSwap airdrop?
A: Distribution details will be announced after the July 1 vote concludes. Check official channels for updates if the proposal passes.
Q: How does Scroll’s Curie upgrade reduce gas fees?
A: By compressing transaction data before posting to Ethereum L1, Scroll reduces data size—and thus gas costs—by up to half.
Q: Can I still claim my Wormhole W token?
A: No—the claim window closed on July 4 at 7:59 AM UTC+8.
Q: Why did Uphold remove support for certain stablecoins?
A: Due to EU MiCA regulations taking effect June 30, Uphold restricted non-compliant stablecoins to maintain regulatory alignment in Europe.
Q: Is the spot Ethereum ETF guaranteed to launch on July 4?
A: While not confirmed, multiple insider reports suggest approval is likely within days, with July 4 being a symbolic deadline due to U.S. Independence Day.
👉 Track real-time developments around Ethereum ETF approvals and market-moving upgrades.