![[LIVE] July 31 Crypto Updates – Bitcoin Holds $118K as Powell Freezes Rates Despite Trump’s Pressure: Best Crypto to Buy Now?](https://kumbhcoin.org/wp-content/uploads/2025/06/If-Bitcoins-not-going-to-zero-its-going-to-1.svg.svg+xml "[LIVE] July 31 Crypto Updates – Bitcoin Holds $118K as Powell Freezes Rates Despite Trump’s Pressure: Best Crypto to Buy Now?")
The crypto market saw another tense session on Wednesday as Bitcoin briefly dumped to $115,000 before recovering hours later back to the key $118K support level: a battle that’s been going on for days now. Traders are watching closely as BTC holds this level with its teeth, despite increasing macro pressure. While the broader market showed fatigue, the question now is: what’s the best crypto to buy in this environment?
The Federal Reserve announced Wednesday that it would not cut interest rates for July, holding steady between 4.15% and 4.25%. The decision came despite public pressure from the Trump administration, which has been calling for a 0.25% rate cut to protect economic growth amid rising tariffs. Fed Chair Jerome Powell pushed back, citing inflation risks and the economic uncertainty caused by Trump’s tariff plans.
.@FederalReserve Chair Jerome Powell: "Today the Federal Open Market Committee decided to leave our policy interest rate unchanged." pic.twitter.com/FnLmx3NOMn
— CSPAN (@cspan) July 30, 2025
EXPLORE: Best New Cryptocurrencies to Invest in 2025
BONK and USELESS: Still the Best Crypto to Buy in a Tired Market?
Meme coin BONK lost its key support at $0.0000328 just days ago and dropped over 20% to retest the lower level around $0.000026. But now it’s bouncing, trading near $0.0000287. If it reclaims $0.0000328, bulls might get back in charge. Fundamentally, Bonk’s growing ecosystem gives it an edge: LetBonk, its own launchpad, has outcompeted Pump.Fun in just weeks. Over 80% of graduated meme tokens are now born on Bonk’s launchpad, which means more revenue fees feeding back into BONK itself.
Another name bouncing back? USELESS coin. After a 38% dip from its $408 million ATH, it’s back on the radar. The coin — half satire, half meme-fuel — has been embraced by degens looking for the next Fartcoin. And let’s be honest: if Fartcoin hit $2.6 billion, why not USELESS? It’s raw, ironic, and plays directly into the no-utility meme meta. No staking, no claims, just pure community-driven chaos. For some, that’s exactly the point.
NFT Sales Surge 47% in July as Ethereum Rallies — Is the OpenSea Airdrop Behind the Spike?
NFT sales soared to $583 million, marking the second-highest monthly total of 2025. This represents a 47.6% jump from June’s $388.9 million, driven by rising ETH prices and a shift toward high-value assets. Ethereum-based collections led the charge, accounting for $275.6 million in volume, up 56% month-over-month.
While transaction counts dropped by 9%, the average sale price climbed to $113, the highest in six months, as buyers consolidated around premium NFTs. Some in the community speculate the surge may be tied to anticipation of an upcoming OpenSea airdrop. Adam Hollander, an OpenSea’s CMO, recently hinted that past activity and user profiles (e.g., OGs vs. newcomers) may factor into distribution.
Meanwhile, platforms like Blur and LooksRare continue to lose ground, and the NFT lending market has cratered 97% from 2024 highs. Despite fewer buyers, bullish sentiment remains strong with NFT market cap hitting $8 billion.
SharpLink Buys 11,259 ETH for $43M, Now Holds $1.73B in Ethereum
According to on-chain tracker Lookonchain, SharpLink (@SharpLinkGaming) just spent 43.09 million USDC to purchase 11,259 ETH at an average price of $3,828.
This brings SharpLink’s total Ethereum holdings to 449,276 ETH, currently valued at around $1.73 billion. The sizable buy underscores growing institutional confidence in Ethereum, as ETH trades near key resistance.
With this move, SharpLink strengthens its position as one of the largest ETH holders, continuing a trend of strategic accumulation amid broader market volatility. Lookonchain flagged the transaction as part of a larger pattern of whale activity this week.
What’s Next for Quant (QNT) Crypto? Down 10% in a Week
Quant (QNT) crypto is down over 10% in the last seven days. Despite starting the month strong, and going from 103 to over 134. This over 30% pump happened after introducing Quant Fusion, which is the first-ever 2.5-layer.
Now this whole move up almost got wiped out, and the coin is currently at 118 with a market cap of over 1.7B.
Neutral Technicals: Can They Shift?
The post [LIVE] July 31 Crypto Updates – Bitcoin Holds $118K as Powell Freezes Rates Despite Trump’s Pressure: Best Crypto to Buy Now? appeared first on 99Bitcoins.
