Ether is becoming increasingly attractive from a valuation standpoint, particularly relative to Bitcoin, but onchain data suggests the market has yet to reach a definitive cycle bottom, according to CryptoQuant.
In its latest weekly report, the analytics company said Ether (ETH) is trading roughly 17% below its realized price, or the average onchain acquisition cost of all ETH in circulation, of about $2,300. Historically, ETH trading below its realized price has coincided with periods of market undervaluation and long-term bottoms.
Ether is also showing signs of improving relative to Bitcoin (BTC). CryptoQuant said that ETH’s market value-to-realized value (MVRV) ratio has retreated from extreme overvaluation, exchange inflows have declined, exchange-traded fund (ETF) holdings have begun to recover after months of weakness, and ETH/BTC spot trading volumes have fallen into a range historically associated with market bottoms.
CryptoQuant says two of five key ETH bottoming indicators have been confirmed. Source: CryptoQuant
Even so, only two of CryptoQuant’s five bottoming indicators have reached historical reversal levels. The remaining metrics are improving but have yet to reach the extremes that have marked previous cycle lows, suggesting Ethereum’s bottom may still be forming.
The report comes as Ether briefly climbed above $1,950 this week and Bitcoin topped $67,000, buoyed by optimism surrounding the US CLARITY Act. At the same time, some market analysts have pointed to the potential for capital to rotate out of richly valued AI stocks and back into crypto, a shift that could further support Ether if risk appetite broadens.
The ETH/BTC MVRV ratio has fallen from nearly 0.95 in August 2025 to around 0.65, signaling that Ethereum has become significantly cheaper relative to Bitcoin. Source: CryptoQuant
Ethereum supply tightens as exchange outflows and staking climbEthereum has shown several constructive onchain signals over the past month. During the week beginning June 29, withdrawal activity on Binance, the world’s largest crypto exchange by trading volume, climbed to its highest level in more than three years.
Analysts generally interpret sustained exchange outflows as a sign that investors are moving assets into self-custody or staking rather than keeping them on exchanges for potential sale, although such flows do not guarantee accumulation.
Meanwhile, a record 34% of Ethereum’s circulating supply is now staked, according to Staking Rewards. As Cointelegraph previously reported, higher staking participation reduces the amount of ETH readily available for trading, potentially easing short-term selling pressure if demand remains resilient.
Tom Lee’s Bitmine Immersion Technologies, the biggest corporate ETH holder, continues to accumulate Ether, boosting its holdings by 325,000 ETH over a one-month period, despite sitting on large unrealized losses. It has set a target to hold 5% of the second-biggest crypto.
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Ethereum's latest technical setup has historically marked distribution endings as whales continue accumulating millions of dollars worth of ETH.
Ethereum has climbed by 16% over the past month and is now showing a technical setup that has historically been followed by strong price recoveries, according to crypto analyst Ali Martinez.
He found that ETH’s MVRV ratio is nearing a bullish crossover above its 160-day simple moving average (SMA).
Recovery Hints The MVRV Momentum measures the relationship between aggregate holder profitability and its medium-term trend line. Martinez explained that when the daily MVRV ratio moves back above the 160-day SMA, it indicates a shift out of capitulation and the beginning of a fresh accumulation phase. Interestingly, this is the first time the setup has emerged in 2026.
Over the past three years, crossovers above this level have consistently marked the end of distribution periods and preceded major rebounds in ETH’s price.
At the same time, large investors continue adding to their holdings. According to Lookonchain, an anonymous whale purchased 27,000 ETH worth $52.03 million through Galaxy Digital’s over-the-counter (OTC) desk after remaining inactive for three months.
Additionally, BSCN reported that BitMEX co-founder Arthur Hayes acquired another 644.34 ETH worth roughly $1.25 million, increasing his total purchases over the past eight days to 3,270 ETH. This follows his earlier $2.53 million ETH buy and comes alongside several other multi-million-dollar Ethereum purchases and staking activity reported earlier this week.
Prediction markets are also leaning bullish. In fact, Whale Insiders said Kalshi traders are forecasting ETH could climb as high as $3,210 this year.
You may also like: Franklin Templeton Exec Calls Agentic AI Crypto’s ‘Killer Use Case’ as ETH Nears $2K Ethereum Reclaims 10% Market Dominance as ETH Outperforms Top Cryptocurrencies Wrapped Ethereum Just Logged a Five-Year Whale Record: Here’s Why It Matters for ETH Separate data also showed that investors withdrew around 1 million ETH, worth nearly $2 billion, from centralized exchanges over the past 30 days, which pushed exchange balances to their lowest level in a decade. Declining exchange reserves typically reduce selling pressure and support a bullish outlook.
On the institutional front, spot Ethereum ETFs have recorded consistent net inflows this month, raking in over $380 million during this period.
Alternative Outlook Not all analysts share the same near-term outlook. Crypto analyst Nonzee, for one, argued that the crypto asset could still see one more rally before a deeper correction. He expects it to test $2,000, with a possible move to $2,200 if Bitcoin climbs to $70,000. However, he believes those levels would mark a bull trap rather than the start of a meaningful breakout.
According to the roadmap, Ethereum could spend seven to ten days in a distribution phase before falling into a final bottom zone between $1,300 and $900, which he considers the ideal accumulation range. Despite his bearish short-term outlook, Nonzee maintained a long-term price target of $7,000 for ETH.
Ether has drawn renewed interest among market observers as valuation metrics suggest it appears increasingly attractive compared with Bitcoin, according to the blockchain analytics firm CryptoQuant.
ETH lags realized price, key metrics signal possible undervaluationCryptoQuant reported that Ether (ETH) is currently trading approximately 17% below its realized price, which stands at around $2,300. The realized price reflects the average onchain acquisition cost for all ETH in circulation. Periods when Ether trades below this price have historically aligned with undervalued markets and long-term cycle lows.
The analytics company noted that key valuation indicators have shifted: ETH’s market value-to-realized value (MVRV) ratio has retreated from overvalued extremes, exchange inflows have declined, holdings by exchange-traded funds (ETFs) are recovering after months of sluggishness, and spot trading volumes for the ETH/BTC pair have settled into a range previously associated with prior market bottoms. These dynamics suggest a market that may be transitioning toward deeper value territory.
ETH’s market value-to-realized value ratio has pulled back from extreme highs, and trading volumes for the ETH/BTC pair have fallen into ranges that have historically marked long-term market bottoms, according to CryptoQuant’s report.
Despite improving fundamentals, only two out of the five ETH bottoming indicators tracked by CryptoQuant have confirmed historical reversal levels. The remaining three indicators, while trending positively, have not yet reached values that have marked previous cycle lows. This leaves open the possibility that Ethereum’s price bottom has not yet been set, according to the firm.
Over the past week, Ether briefly traded above $1,950 while Bitcoin surged to $67,000, fueled in part by market optimism regarding the US CLARITY Act. Market analysts have also speculated that capital could rotate from high-priced artificial intelligence stocks back into crypto assets, potentially favoring Ether if risk-taking increases in coming weeks.
The ETH/BTC MVRV ratio, which measures the relative value between Ethereum and Bitcoin, has declined from a high of nearly 0.95 in August 2025 to about 0.65. This move indicates that Ether has become considerably cheaper compared to Bitcoin in recent months.
Mini dictionary: MVRV ratio — The Market Value to Realized Value ratio is a key blockchain metric that compares the total market capitalization of a cryptocurrency with the value at which coins last moved onchain. It helps identify periods of overvaluation or undervaluation relative to historical trends.
DateETH/BTC MVRV RatioAugust 20250.95Current0.65Ethereum supply tightens as exchange outflows and staking climbOnchain data over the past month has revealed several positive signals for Ethereum, suggesting increasing investor confidence. During the week starting June 29, withdrawals from Binance, the largest global cryptocurrency exchange by trading volume, reached their highest point in over three years.
Market analysts interpret sustained outflows from exchanges as an indication that investors are transferring assets into self-custody or staking solutions rather than keeping them ready for sale. However, such trends do not guarantee accumulation but do reduce readily available supply on exchanges.
Staking Rewards, a crypto analytics platform, noted that a record 34% of Ethereum’s circulating supply is now locked in staking. Industry experts have pointed out that higher staking participation means less ETH is available for open market trading, which could limit short-term selling pressure if overall demand for the asset remains strong.
A record 34% of Ethereum’s circulating supply is being staked, limiting the amount available for trading and potentially easing near-term selling pressure if demand persists.
Bitmine Immersion Technologies, the top corporate ETH holder led by Tom Lee, has continued to expand its Ether holdings, despite facing significant unrealized losses. Over the past month, Bitmine increased its reserves by 325,000 ETH and has set a target to eventually hold 5% of the total circulating supply of the world’s second-largest cryptocurrency by market capitalization.
Mini dictionary: Bitmine Immersion Technologies — A company specializing in cryptocurrency mining and digital asset management, known for holding one of the largest corporate ETH portfolios in the sector.
HolderRecent AccumulationTotal TargetBitmine Immersion Technologies+325,000 ETH (Last Month)5% of ETH SupplyDisclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
A large Ethereum short on Hyperliquid is giving the market another glimpse of how serious capital is starting to use decentralized derivatives venues, not just centralized exchanges and OTC desks.
The position, tracked through the Hyperliquid explorer at wallet address `0x7fdafde5cfb5465924316eced2d3715494c517d1`, is sized at roughly $67 million against ETH. The wallet is labelled on-chain as “BobbyBigSize” and has been linked to quantitative institutional asset manager Fasanara Capital.
That sounds dramatic, and in some ways it is, but the important point is not simply that a large trader is short ETH. Large funds short assets all the time, and a short position does not automatically mean a trader is bearish in a simple, headline-friendly way.
The more interesting part is where the trade is happening.
Hyperliquid has become one of the most closely watched decentralized perpetuals exchanges in the market, and a position of this scale shows that on-chain derivatives venues are no longer only playgrounds for retail traders chasing leverage. They are becoming deep enough, and visible enough, for institutional-style positioning to show up in public.
TL;DR A Hyperliquid wallet linked to institutional trading activity is carrying a roughly $67 million ETH short. The position is visible through Hyperliquid’s on-chain explorer. The trade should not be read as simple ETH doom, because institutional shorts can be part of hedged or market-neutral strategies. A Big ETH Short Does Not Always Mean A Bearish Bet The instinctive read is obvious: large ETH short equals bearish Ethereum signal.
But that is too simple.
An institutional trader can short ETH for many reasons. It may be a directional bet, but it may also be a hedge against spot holdings, an offset against options exposure, part of a basis trade, or one leg of a broader market-neutral strategy. Funds that run quantitative books often care less about “ETH up or down” and more about relative pricing, funding rates, liquidity, volatility, and the relationship between spot and perpetual markets.
That is why this position needs to be handled carefully.
A $67 million short is large enough to watch, but it does not tell us the full book. We do not know, just from the short alone, whether the trader has long ETH somewhere else, whether they are hedging collateral, or whether they are running a spread trade across venues.
That is the difference between on-chain transparency and complete transparency. The position is visible, but the entire strategy is not.
Hyperliquid Is Becoming Harder To Ignore The venue is almost as important as the trade.
Hyperliquid has grown quickly because it offers a trading experience that feels closer to a high-performance centralized exchange than many earlier DeFi derivatives platforms. Fast execution, deepening liquidity, and a familiar perpetuals interface have helped it attract traders who may not normally spend much time on-chain.
That creates a different kind of market.
In earlier DeFi cycles, large traders often used decentralized venues for yield, liquidity mining, or niche token access, while serious derivatives flow remained mostly centralized. Hyperliquid has challenged that split. If large, professional traders can execute meaningful size on-chain, decentralized exchanges start to compete for a more valuable part of the market.
And because positions are visible, the market gets a new kind of signal.
Centralized exchange positioning is often inferred through funding rates, open interest, liquidation data, and exchange-reported metrics. On-chain perpetuals can expose wallet-level behavior more directly, although attribution still needs caution.
That visibility can make big trades feel more dramatic, but it also gives analysts more to work with.
ETH Traders Will Watch Funding And Liquidation Levels The short itself may become a reference point for ETH traders.
When a large position is visible, market participants often begin watching potential liquidation levels, funding changes, and whether the trader adds or reduces exposure. That can create its own feedback loop, especially if the position becomes part of the social trading conversation.
Still, it would be a mistake to assume the market can simply “hunt” a large institutional short.
Professional traders usually manage collateral, hedges, and risk carefully. If this position is part of a broader strategy, the visible short may only be one side of the trade. Trying to read it as a single vulnerable bet could lead to bad conclusions.
What matters more is that Ethereum derivatives activity is increasingly moving into venues where the market can observe it in real time.
That is a structural shift.
On-Chain Derivatives Are Growing Up Crypto has spent years arguing that finance will move on-chain, but derivatives have always been one of the hardest areas to migrate.
They require deep liquidity, strong risk engines, fast matching, reliable oracles, collateral management, and trader confidence. A venue can be decentralized in branding, but if it cannot handle size, serious traders will not use it.
Hyperliquid’s growth suggests that gap is narrowing.
The $67 million ETH short does not prove decentralized perpetuals have won, and it certainly does not prove Ethereum is about to fall. But it does show that institutional-style trades can now appear on-chain in a way that would have looked unlikely a few years ago.
That is the larger story.
The market is not just watching ETH price. It is watching where ETH risk is being traded.
If more large funds become comfortable using on-chain derivatives venues, the structure of crypto trading could keep shifting away from centralized exchanges alone and toward a more open, visible, and wallet-level market.
That may be uncomfortable at times, especially when large positions become public. But it is also exactly what on-chain finance was supposed to make possible.
This article is based on Hyperliquid explorer data for the relevant Ethereum short position.
This article was written by the News Desk and edited by Samuel Rae.
Robinhood CEO Vlad Tenev’s X account was hacked by people promoting a memecoin they claimed was the chain’s official mascot. This comes as the new Ethereum layer-2 network continues to generate a lot of buzz among traders, with the chain currently among the top networks in terms of revenue.
Hackers Hack Robinhood CEO’s X Account To Promote Memecoin In a now-deleted X post, the hackers promoted the Vladhood memecoin, which they said was the official Robinhood chain mascot. The hackers also stated that the meme coin would be listed on the Robinhood app.
Source: X “More importantly, we believe this is another step toward bringing more attention to Robinhood Chain, which remains our primary focus for Q3 and Q4,” the post read. It is worth noting that the memecoin was created just minutes before the post.
The Vladhood meme coin surged to a high of around a $10 million market cap. Onchain data shows that insiders have cashed over $1 million in profits. Meanwhile, the token is currently trading above a $4 million market cap even though the post has been deleted.
The Robinhood chain launched earlier this month and instantly generated a lot of buzz with the Cashcat meme coin. The chain has also seen a lot of activity, partly thanks to meme coin trading on the network. As CoinGape reported, Bernstein also raised their price target for the HOOD stock, citing potential revenue from the chain.
Exchange Confirms Hack Robinhood also confirmed the hack in an X post, stating that Vlad Tenev’s X account was compromised. “We’re working with X to restore access, and the post has been removed,” the exchange added.
🚨Heads up: Our CEO Vlad Tenev’s X account was compromised and posted a fake promotion for a meme coin.
We’re working with X to restore access and the post has been removed.
— Robinhood Comms (@RobinhoodComms) July 23, 2026
DeFiLlama data shows that the Robinhood chain currently ranks third in terms of revenue. The network has earned $1.1 million over the last seven days and $2.11 million since it launched earlier this month.
Meanwhile, the network’s total value locked (TVL) currently stands at $309 million, up over 3% in the last 24 hours.
For more information on trading stocks, please check out our page on Best Platforms to Trade Tokenized Stocks
Ethereum held above $1,900 for four consecutive daily closes, a streak last recorded more than one month ago.
At press time, Ethereum [ETH] traded around $1,914 after declining 0.79% over 24 hours. As ETH defended this level, two large buyers added over 30,000 tokens through separate transactions.
Why are Ethereum whales buying? According to Lookonchain, a whale bought 27,000 ETH worth $52.03 million through Galaxy Digital OTC. The transaction followed three months of wallet inactivity, marking a notable return to the market.
However, one purchase cannot confirm that the whale expects Ethereum’s broader downturn to be over.
Lookonchain also reported that Arthur Hayes bought another 644.34 ETH worth $1.25 million. The purchase lifted his eight-day accumulation to 3,270 ETH, acquired for approximately $6.27 million.
Together, both transactions reflected renewed demand from large buyers as Ethereum held above $1,900.
Source: CoinGlass Ethereum’s Spot Netflow turned negative after remaining positive for five consecutive days. At press time, Spot Netflow stood near -$16 million, indicating that more ETH left exchanges than entered.
Exchange withdrawals may reduce immediately available selling supply, although they do not guarantee continued price gains.
Are institutions buying Ethereum too? U.S. Spot Ethereum ETFs also recorded improving demand during the week.
Verified data for the 21st of July showed $37.47 million in Net Inflows, extending the streak to three sessions. BlackRock’s ETHA attracted $52.79 million, while Fidelity’s FETH recorded $15.32 million in Net Outflows.
Source: SoSoValue These flows showed renewed institutional interest, although three positive sessions cannot establish long-term positioning.
Ethereum’s Bulls versus Bears indicator reportedly remained positive for three weeks and reached 62. However, this reading requires the original TradingView chart before publication.
Source: TradingView The Moving Average Convergence Divergence [MACD] reportedly continued rising, suggesting that bullish momentum had improved. This signal also requires chart verification because its timeframe and settings were not provided.
If whale demand and ETF inflows continue, ETH could retest the psychological resistance around $2,000. A sustained move above that level would offer stronger confirmation than wallet activity alone.
Final Summary A whale bought 27,000 ETH, while Arthur Hayes lifted his eight-day accumulation to 3,270 ETH. Ethereum could retest $2,000 if whale demand, ETF inflows, and negative Spot Netflow continue.
Ethereum price today: $1,880Ethereum shaved 3% off its market cap on Thursday following an increase in open interest and brief negative funding rate flip.Four consecutive days of inflows into US spot ETH ETFs indicate continued recovery in institutional demand, but spot sentiment in the region has yet to flip positive.ETH fails to clear the 100-day EMA overhead.Ethereum (ETH) is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest.
The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.
Open interest is the total worth of outstanding contracts in a derivatives market. Earlier in July, when ETH began its recovery, OI remained flat before the slight rise this week.
ETH Open Interest. Source: CoinglassA similar trend is noticed in the Estimated Leverage Ratio (ELR), which has largely remained flat before a slight rise over the past week.
The ELR measures an asset's open interest compared to its exchange reserves to give a view of the amount of leverage traders are using relative to spot pressure.
ETH Estimated Leverage Ratio. Source: CryptoQuantFunding rates have also been largely positive throughout the month but have begun to ease this week and briefly flipped negative on Thursday, the first time since June 29. Funding rates are periodic payments between long and short traders in perpetual futures markets to keep a contract's price aligned with its underlying spot counterpart.
Funding Rates. Source: CoinglassThe returning leverage could help expand ETH's recent rise, but emerging signals of a negative flip in funding rates also bring a price squeeze into the picture.
Meanwhile, on the institutional side, US spot ETH exchange-traded funds (ETFs) continued their positive streak, recording $72.64 million in net inflows on Thursday, according to SoSoValue data. The move marks a fourth consecutive day of net inflows for the products.
While US institutional interest is recovering, spot traders' sentiment in the region has yet to flip positive. The Coinbase Premium Index, which tracks sentiment among traders in the region, has remained in negative territory for nearly three months. A sustained move into positive territory could spread bullish sentiment into other regions.
ETH Coinbase Premium Index. Source: CryptoQuantEthereum Price Forecast: ETH falters before 100-day EMA againEthereum recorded $41.55 million in liquidations over the past 24 hours, led by $34.40 million in long liquidations, per Coinglass data.
On the daily chart, ETH is holding a constructive short-term tone as it remains above both the 20- and 50-day Exponential Moving Averages (EMAs) at $1,837 and $1,829. However, the upside remains challenged by a broader downtrend, with the 100-day EMA at $1,937 acting as a key overhead barrier, while momentum gauges remain supportive.
The Relative Strength Index (RSI) and Stochastic have eased toward 57 and 66, respectively, both hinting at steady but not extreme buying pressure.
On the topside, initial resistance emerges at the horizontal level of $1,909, ahead of the 100-day EMA at $1,937, with further bullish extension targeting $2,018 and then $2,107, where a denser supply zone begins toward $2,211 and $2,388.
ETH/USDT daily chartOn the downside, immediate support comes from the 20- and 50-day EMAs, followed by a more established floor at $1,806. A deeper pullback would expose $1,741, while only a break below $1,524 would seriously undermine the current constructive bias toward higher levels.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
AMD officially launches rack-mounted AI system Helios, set to begin shipping soon.
The AMD Advancing AI Conference was held in San Francisco from July 22 to 23. At the event, AMD CEO Lisa Su announced that Helios has entered full production and will begin shipping soon. OpenAI’s Head of Infrastructure stated that the company plans to deploy AMD Helios at scale, and OpenAI will collaborate with AMD to develop the MI500 series AI chips and their subsequent products. Additionally, Su said AMD is partnering with chip design firm Cerebras to deliver high-speed inference capabilities via Cerebras’ cloud services. The joint product of AMD and Cerebras will hit the market later this year. The AMD-Cerebras system will launch an AI inference solution combining AMD Helios GPU server racks and Cerebras’ wafer-scale chips. CNBC analysis points out that a year ago, Su projected the 2028 AI accelerator market would reach $500 billion. The latest forecast puts the market size at the end of this decade roughly equivalent to the current entire semiconductor market. Su noted that GPUs will account for the majority of this share.
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Trump: To use Iranian funds to compensate for ship and cargo losses
US President Trump stated, "Until further notice, effective immediately, all and any damages caused to vessels, cargo, or any related items shall be compensated using Iranian funds currently held and controlled by the United States. Although such compensation amounts may be substantial, this remains a fair and reasonable approach."
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The United States has imposed additional tariffs ranging from 10% to 12.5% on 60 economies, with the measures taking effect today.
The Office of the United States Trade Representative (USTR) issued a notice on local time the 23rd, announcing that under Section 301 of the Trade Act of 1974, it would impose additional tariffs of 10% to 12.5% on dozens of countries and regions under the pretext of so-called "forced labor" to replace the expiring global import tariffs. The new tariffs will take effect at 12:00 noon ET on the 24th (12:00 noon Beijing time on the same day). The USTR stated that as the 10% global tariff is set to expire, this round of tariffs will be levied on 60 economies, covering more than 99% of U.S. trade volume. Senior U.S. officials added that tariff measures for goods in transit will take effect at 12:01 a.m. ET on July 28 (12:01 noon Beijing time on the same day). Imported goods including fuel, food, and fertilizers will be exempt from the new tariffs; products subject to specific industry-specific tariffs (such as automobiles, metals, and pharmaceuticals) are also excluded from the levy. Additionally, goods covered by the United States-Mexico-Canada Agreement (USMCA) will also be granted exemptions. U.S. officials noted that the new tariffs will not be imposed in tandem with existing steel and aluminum import taxes, namely the "Section 232" tariffs implemented by the Trump administration last year on national security grounds.
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Intel's revenue and outlook beat expectations, with its stock rising 13% in after-hours trading.
Intel (INTC.O) released an unexpectedly strong revenue forecast, indicating that surging data center spending is helping the chipmaker achieve its long-awaited recovery. The company said it expects third-quarter sales to reach $15.8 billion to $16.8 billion. Even the lower end of this range easily exceeds analysts’ average forecast of $15.1 billion. This forecast highlights Intel’s growth momentum among data center customers, who are urgently needing chips to meet AI computing demands. Last quarter, sales in this segment surged 59%, more than twice Intel’s overall revenue growth. After the earnings release, Intel’s stock rose 13% in after-hours trading. Additionally, Intel’s second-quarter revenue of $16.13 billion also exceeded the market expectation of $14.43 billion.
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Iraqi Prime Minister: Iraq will not allow actions threatening Iran to be launched from its territory.
According to a statement released by Iraq's Prime Minister's Press Office on the 23rd, Iraqi Prime Minister al-Zaidi visited Iran that day and held talks with Iranian President Pezeshkian in Tehran, the capital of Iran. Al-Zaidi stated that Iraq and Iran's security are closely linked, and Iraq will never allow any actions threatening Iran to be launched from its territory. Pezeshkian noted that security and stability are of great significance to the development of bilateral relations.
LayerZero Labs, an interoperability protocol connecting over 170 blockchains, and Keeta, a regulated payment and settlement platform, announced a partnership to introduce tokenized commercial bank deposits on Ethereum, Solana, Base, and the Keeta Network. This collaboration aims to provide institutions with the ability to transfer regulated bank deposits seamlessly across multiple public blockchains using LayerZero’s interoperability technology.
Tokenized bank deposits roll out with multi-currency supportInstitutions will be able to issue and transfer commercial bank deposits via Bivo, a payment rail and banking network provider, onto several blockchain networks. Initially, these tokenized assets will be backed by U.S. dollars, with support for eight additional currencies—including EUR, JPY, CNY, GBP, CAD, MXN, AED, and HKD—expected by the end of the month. Unlike traditional reserve-backed stablecoins, each token will represent money held directly as a commercial bank deposit through Bivo, linking regulated finance to decentralized infrastructure.
Mini dictionary: Bivo, a payment platform and partner-bank network, bridges commercial bank deposits into blockchain tokens for payment and treasury solutions.
The platform is designed to help institutions conduct payments and manage treasury operations across networks without managing separate token versions or maintaining isolated balances. With LayerZero’s Omnichain Fungible Token (OFT) standard, tokens sent from one blockchain are burned and new tokens are minted on the destination chain, keeping supply consistent and removing the need for wrapped assets or external liquidity pools.
CurrencyNetwork AvailabilityUSDPlannedEURPlannedJPYPlannedCNYPlannedGBPPlannedCADPlannedMXNPlannedAEDPlannedHKDPlannedLayerZero has stated that the platform’s OFT framework allows companies to track total supply directly at the contract level across blockchains, ensuring assets are never duplicated and reducing operational complexity.
Issuer controls and security take center stageKeeta allows issuing institutions to set key operating rules for the tokens, including compliance checks, verification settings, transfer limits, and other regulatory safeguards. Such features are considered essential for commercial bank money, given strict legal and operational responsibilities. LayerZero’s infrastructure manages the cross-chain settlement, but issuers retain decision-making authority over how tokens are issued and used.
Keeta stated that a recent public stress test, conducted with assistance from Google’s Spanner engineering team, reached 11.2 million transactions per second on its dedicated blockchain network. This test showcased the system’s technical capacity but did not directly address adoption by banks or treasury institutions.
Mini dictionary: Keeta is an institutional payments and settlement network seeking to bridge regulated banking infrastructure with public blockchain environments.
Bivo’s involvement allows direct on-chain representation of assets held in regulated financial channels, offering a banking foundation rather than relying on crypto-native reserves. This arrangement also grants participating institutions control throughout the entire transfer process, potentially addressing concerns about fragmented liquidity and inconsistent versions of tokenized assets.
Despite technical advances, the companies have not disclosed forecasted transaction volumes, specific banks participating, or committed institutional partners. Future adoption will depend on market demand and how security settings are configured.
Security concerns and institutional adoption remain unresolvedQuestions about adoption persist as neither LayerZero nor Keeta have named banks or provided estimates for usage or transaction volume. Institutional appetite is expected to be influenced by both regulatory frameworks and risk management settings in the infrastructure.
Closer attention to security has followed recent incidents, such as the April 18 KelpDAO exploit, which resulted in attackers draining 116,500 rsETH valued at $292 million. The breach exposed weaknesses in a single-verified protocol setup, prompting LayerZero to discontinue support for the vulnerable configuration and raise default security standards for future deployments. Success of the Keeta rollout may depend on how clients adapt these new default controls.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Swiss cantonal bank BancaStato has launched regulated crypto trading through an integration with digital asset bank Sygnum and banking software provider Avaloq.
The service allows BancaStato clients to buy, hold, and sell Bitcoin, Ethereum, Litecoin, and Solana directly through the bank’s existing web and mobile banking applications, according to an announcement Thursday.
Clients can place market orders based on either the quantity of crypto they want to purchase or its value in US dollars. Transactions are executed through Sygnum’s business banking API within BancaStato’s Avaloq infrastructure.
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The integration does not require a separate order management system, which Sygnum said reduces operating costs and complexity while allowing trading features to be adjusted to support the bank’s risk management requirements.
BancaStato is the first bank using Avaloq’s software as a service environment to let clients trade crypto directly through Sygnum’s API, the companies said. The bank joins more than 25 banks and international financial institutions using Sygnum’s business banking platform.
Client assets will be stored through Sygnum’s custody infrastructure, which uses hardware and software controls, governance procedures, and external audits. The assets are held off BancaStato’s balance sheet, providing additional protection if the bank enters bankruptcy proceedings.
Founded in 1915, BancaStato serves customers across the Swiss canton of Ticino. The integration allows clients to view and manage their traditional investments and digital assets through the same banking platform.
The launch follows Sygnum Europe’s receipt of a crypto asset service provider license in Liechtenstein on June 30 under the European Union’s Markets in Crypto Assets framework. The authorization allows Sygnum to provide regulated digital asset infrastructure to banks across the European Union.
Disclosure: This article was edited by Estefano Gomez. For more information on how we create and review content, see our Editorial Policy.
The Clarity Act, a significant piece of U.S. legislation, aims to reclassify certain tokens as digital commodities and place them under the Commodity Futures Trading Commission (CFTC) rather than the Securities and Exchange Commission (SEC). The bill is designed to enhance transparency for digital asset projects and provide a more defined regulatory framework for smart contract networks and decentralized applications, which could benefit platforms like Ethereum and Solana. The recent commentary from @laurashin highlights the potential positive impact of the Clarity Act on these platforms, emphasizing the commodity-like nature of Bitcoin and Ether.
The Clarity Act market on Polymarket shows a 36.5% probability of the bill being signed into law by the end of 2026. This marks a slight decline from 38% a day ago and 40% a week ago. This pricing suggests a moderate level of confidence in the bill’s passage, reflecting ongoing political negotiations and regulatory developments. The act’s progression could significantly influence the regulatory environment for cryptocurrencies and smart contract platforms.
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Markets are closely monitoring developments related to the Clarity Act, as President Donald Trump, key congressional leaders, and influential figures in the crypto industry play pivotal roles. The bill’s advancement could lead to clearer regulatory conditions for platforms operating within the Ethereum and Solana ecosystems, supporting their growth and innovation.
Key Takeaways The Clarity Act appears to support the classification of Bitcoin and Ether as digital commodities, potentially benefiting smart contract platforms. Current market pricing suggests a moderate probability of the Clarity Act being signed into law by the end of 2026. Market activity reflects uncertainty, with recent shifts in probabilities indicating nuanced expectations about the bill’s legislative journey. What to Watch Observers should track statements and decisions from President Donald Trump, as his endorsement or opposition could significantly impact market perceptions. Congressional actions, such as votes or public comments from key committee chairs like Tim Scott and Cynthia Lummis, will also be crucial indicators. Developments in the regulatory landscape, particularly those affecting Ethereum and Solana, could provide additional context for the Clarity Act’s potential impact on the crypto industry.
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The Digital Asset Market Clarity Act, better known as the CLARITY Act (H.R. 3633), passed the US House back in July 2025 and cleared the Senate Banking Committee with a 15-9 bipartisan vote on May 14, 2026. As of late July 2026, the bill is positioned for a full Senate vote once bipartisan negotiators iron out remaining sticking points, primarily around ethics provisions.
What the CLARITY Act actually does The CLARITY Act tries to fix jurisdictional ambiguity by drawing definitive lines. Digital commodities would fall under CFTC oversight. Investment contracts would stay in the SEC’s lane. Beyond jurisdiction, the bill proposes comprehensive rules for token classification, disclosure requirements, trading platform regulations, custody standards, and even provisions addressing decentralized finance.
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The bipartisan support is notable. Democratic Senators Ruben Gallego and Angela Alsobrooks voted in favor during the Banking Committee markup, joining their Republican colleagues.
Why Grayscale cares this much Zach Pandl, Grayscale’s head of research, has framed the CLARITY Act as the key that unlocks institutional investment at scale. His argument is straightforward: pension funds, endowments, and asset managers won’t meaningfully allocate to digital assets until the regulatory framework is settled.
Pandl has identified specific networks that stand to benefit most from institutional inflows once the bill passes. His shortlist includes Ethereum, Solana, BNB, and Canton Network.
The odds and the obstacles Polymarket odds as of May 2026 placed the probability of the CLARITY Act passing in 2026 at roughly 67%. Senate Republicans have indicated they’re preparing updated bill text with essential ethics provisions, a concession apparently needed to secure enough Democratic votes for passage. The ethics language reportedly addresses concerns about conflicts of interest among officials who might hold or trade digital assets while overseeing their regulation.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
TLDR: Tokenized bank deposits will become transferable across Ethereum, Solana, Base, and Keeta through LayerZero’s interoperability standard. Commercial bank deposits held through Bivo will support USD and eight additional fiat currencies scheduled for release later this month. Keeta will retain issuer controls while LayerZero manages consistent token supply and cross-chain settlement without separate liquidity pools. The partners disclosed no transaction forecasts or participating banks, leaving institutional adoption dependent on demand and security settings. LayerZero and Keeta are bringing tokenized bank deposits to Ethereum, Solana, Base, and the Keeta Network. The partnership creates cross-chain rails for regulated commercial bank money used in payments and treasury operations. Bivo-held commercial bank deposits will support the issued assets. The first rollout will cover the U.S. dollar and eight additional currencies later this month.
The model differs from common reserve-backed stablecoins. Each token represents money held as a commercial bank deposit through Bivo. LayerZero supplies the interoperability layer, while Keeta provides compliance-focused payment infrastructure. Institutions can therefore manage one asset across several public networks.
Tokenized Bank Deposits Gain a Cross-Chain Settlement Layer LayerZero will use its Omnichain Fungible Token standard for transfers between supported blockchains. The standard burns tokens on one network and mints matching tokens on another. This structure keeps the total supply consistent across every deployment. It also avoids separate liquidity pools and reduces reliance on wrapped versions.
Issuing institutions retain control over the token contracts and their operating rules. They can define verification settings, transfer limits, compliance checks, and other safeguards. That control is important for commercial bank money, where issuers must manage legal and operational obligations.
The initial network includes Ethereum, Solana, Base, and Keeta. Supported currencies will include USD, EUR, JPY, CNY, GBP, CAD, MXN, AED, and HKD. LayerZero said the currencies are scheduled to become available later this month. The company currently connects more than 170 public blockchains.
Cross-chain settlement could help institutions move working capital between blockchain environments without maintaining isolated balances. A treasury team could hold one regulated asset while accessing different payment or market venues. The structure may also reduce reconciliation work created by separate token versions.
LayerZero already supports multichain assets used by payment and tokenization companies. Its OFT framework tracks supply across networks at the contract level. Keeta now applies that model to deposit-backed money rather than crypto-native assets. The partnership extends interoperability into routine banking settlement.
Keeta Adds Bank Controls While Adoption Questions Persist Keeta is building its network for regulated payments and institutional settlement. The company is also integrating LayerZero as an anchor within its own blockchain. Keeta said a public stress test recorded 11.2 million transactions per second. The test involved Google’s Spanner engineering team.
Bivo provides access to U.S. payment rails and a partner-bank network. Its role links the on-chain tokens with commercial bank deposits held through regulated financial channels. The arrangement gives the system a banking foundation rather than a portfolio of reserve assets.
This structure preserves direct issuer authority over contracts throughout the transfer process. Institutions can maintain controls while using public blockchains for distribution and settlement. That combination may address concerns around fragmented liquidity and inconsistent token versions. It does not remove the need for bank participation.
Still, the partners have not disclosed expected transaction volumes, participating banks, or committed institutional users. Those details will determine whether the infrastructure gains regular settlement activity. Technical capacity alone does not guarantee demand from banks or corporate treasurers.
Security controls will also receive close attention after the April 18 KelpDAO incident. Attackers drained 116,500 rsETH, worth about $292 million, after compromising infrastructure supporting a single-verified setup. LayerZero later ended support for that configuration and increased default verification requirements. The Keeta rollout will depend on how institutions configure those controls.
The Verus-Ethereum Bridge has been hacked… again. The latest attack reportedly exploited the same weakness used before, which raises the question: is the bridge truly safe?
Verus-Ethereum bridge drained of $7.54M Blockchain security firm Blockaid detected a new attack on the Verus-Ethereum Bridge on the 23rd of July. According to the firm, the attacker exploited the bridge’s import process to release funds without depositing matching assets on the source chain.
Source: Blockaid On-chain data shows that the exploit occurred at 03:45 UTC. Around 1,137 Ethereum [ETH], along with tBTC, USD Coin [USDC], Tether [USDT], EURC, Maker [MKR], and Savings crvUSD [scrvUSD], were transferred to an attacker-controlled wallet. Etherscan valued the main outflows at approximately $7.54 million at the time.
Blockaid noted that although the attacker used a different wallet and transaction, they still targeted the same bridge contract, entry path, and likely bug category as in the May breach.
Bitcoin price hovered near $65,000 after consolidation, while traders assessed prospects for recovery this week. The BTC price increased by 5% in seven days, which enhanced momentum ahead of the Federal Reserve decision.
After its recent surge, Ethereum price was close to $1,920, whereas XRP price was trading at $1.13. The next focus is on the July 28-29 FOMC meeting led by Federal Reserve Chairman Kevin Warsh. Policymakers will decide rates and provide guidance on the policy outlook for markets.
FOMC Meeting July 28–29: Markets Watch the Fed Rate Decision The Federal Reserve’s next policy meeting is approaching, with CME FedWatch showing less than one week remaining.
The FOMC will meet on July 28 and July 29 to review interest rates and economic conditions. It is planned to issue a policy statement at 2:00 p.m. Eastern Time, July 29. The press conference will start at 2.30 p.m.
CME FedWatch tracks market expectations using prices from 30-Day Federal Funds futures.
Source: Fedwatch The tool has been used to estimate potential rate changes prior to every meeting by traders. The decision will be monitored by the investors to give broader market indications.
Bitcoin ETFs Record Seven Straight Days of Inflows Since July 14 Bitcoin ETFs recorded seven consecutive trading days of inflows, marking their longest positive streak in nine months. Santiment recorded an entry of $981.2 million into the products since July 14, with Bitcoin briefly reaching $66,300.
The steady demand follows heavy withdrawals during May and June, suggesting confidence may be returning among institutional investors.
The same inflow streak happened again in November 2025 as Bitcoin was nearing its $126,000 record high.
Santiment data The existing momentum is not a sure way of another similar rise, although a trend of increasing ETFs might help push it to $70,000. Such activity could indicate rising FOMO and increase the risk of a short-term market top. Investors will keep a check on the consistency of the inflows next week.
Bitcoin Price Prediction: Key Levels To Watch The BTC price traded at $65,693, holding above the key $65,000 support on the four-hour chart. Bitcoin price remains below the $66,000 resistance after retreating from a recent peak near $66,700.
The RSI has a value of 53, indicating neutral momentum that has cooled off following the stronger values.
Meanwhile, the CMF reading of 0.25 suggests capital inflows remain positive. This is an indication of ongoing purchase intentions despite the recent consolidation.
A confirmed break above $66,000 could open targets at $66,700 and $67,000 as per Detailed Bitcoin price analysis. Additional momentum can take the rally to $68,000.
Source: BTC/USDT 4-hour chart: TradingView However, losing $65,000 could expose the $64,000 support zone. Bitcoin price can also stay within the range till the buyers manage to close decisively above resistance.
Cryptocurrency prices are trending lower on Thursday, pressured by renewed inflation concerns stemming from ongoing tensions between the United States (US) and Iran and persistently elevated Oil prices. Bitcoin (BTC) is approaching short-term support at $65,000, with upside resistance remaining firm at $67,000.
Meanwhile, altcoins, including Ethereum (ETH) and Ripple (XRP), mirror Bitcoin’s neutral-to-bearish tone, testing key support levels at $1,900 and $1.13, respectively.
Crypto market sentiment is in Fear territory, with a minor drawdown to 31 on Thursday from 33 the day before, according to the Fear & Greed Index. If this weakness persists, it could negatively impact appetite for risk assets, in turn reducing demand and the tail force in the broader crypto market.
Crypto Fear & Greed Index | Source: AlternativeBitcoin and Ethereum attract capital inflows as XRP lagsInstitutional demand for Bitcoin spot Exchange-Traded Funds (ETFs) remains robust, marking a seventh straight day of consistent inflows, albeit with a notable drop to $69 million on Wednesday from $203 million the previous day. SoSoValue data shows cumulative inflows approaching $52 billion, while average net assets under management hover around $80 billion. This highlights persistent long-term institutional confidence in the largest crypto asset.
Bitcoin ETF flows | Source: SoSoValueEthereum spot ETFs continue to recover, with Wednesday’s inflows reaching $73 million, almost double Tuesday’s $37 million. Cumulative inflows edged higher to $11.23 billion from $11.15 billion over the same period, while average assets under management climbed to $10.57 billion, compared to $10.48 billion on Tuesday.
Ethereum ETF flows | Source: SoSoValueAppetite for XRP ETFs has significantly lagged that for Bitcoin and Ethereum, with activity remaining muted on Wednesday. Looking back, inflows totaled $2.5 million on Monday and roughly $6 million on Tuesday. According to SoSoValue, cumulative inflows are steady at $1.49, with net assets averaging $1 billion, underscoring investors' long-term interest in XRP investment products.
XRP ETF flows | Source: SoSoValuePrice analysis: Bitcoin upside stays capped Bitcoin trades at $65,722, holding above the 50-day Exponential Moving Average (EMA) at $65,164 but still capped well below the 100-day EMA at $68,027 and the 200-day EMA at $73,734, which keeps the broader bias bearish despite the latest rebound. The Relative Strength Index (RSI) around 57 and the positive Moving Average Convergence Divergence (MACD) histogram hint at improving bullish momentum, yet price remains structurally constrained under the major trend EMAs and the prevailing downward resistance trendline.
BTC/USDT daily chartOn the topside, initial resistance is seen at the 100-day EMA around $68,027, with a stronger cap at the 200-day EMA near $73,734, where sellers are likely to reassert control if the rally extends. On the downside, immediate support emerges at the 50-day EMA at $65,164, while a deeper pullback would expose the former resistance-turned-structural level around the trendline break price at $59,189, which acts as a more distant demand zone in the current configuration.
Altcoins outlook: Ethereum and XRP struggle to renew momentumEthereum trades around $1,930, keeping a capped tone as it sits above the 50-day EMA at $1,832 but remains below the 100-day EMA at $1,938 and the 200-day EMA at $2,175. The MACD histogram holds in positive territory, while the RSI hovers near 64, suggesting bullish momentum that has yet to overcome the overhead trend barriers.
ETH/USDT daily chartOn the topside, immediate resistance lies at the 100-day EMA at $1,938, with a more significant hurdle at the longer-term 200-day EMA near $2,175. On the downside, the first notable support aligns with the 50-day EMA at $1,832, where a break lower would hint at a deeper corrective phase despite the currently constructive momentum.
XRP, on the other hand, trades at $1.13, capped by a dense layer of overhead moving averages. The 50-day EMA near $1.15, the the longer-term 100-day and 200-day EMAs at $1.23 and $1.44, respectively all sit above price, keeping the near-term tone bearish despite a mildly constructive momentum backdrop.
The MACD indicator holds in positive territory with the line above the signal and a modest positive histogram, while the RSI around 55 hints at steady, but not aggressive, buying interest.
XRP/USDT daily chartOn the downside, initial support appears at the Bollinger middle layer around $1.11, with a deeper cushion at the lower band near $1.06 if selling pressure resumes. On the topside, bulls would first need to reclaim the 50-day EMA at $1.15 to ease immediate downside pressure, followed by the Bollinger upper layer at $1.16 as the next hurdle. Only a sustained break above the 100-day EMA at $1.23 would begin to challenge the broader bearish bias while the 200-day EMA at $1.44 remains a far more distant structural cap.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Crypto ETF FAQs An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.
Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.
Yes. The SEC approved in January 2024 the listing and trading of several Bitcoin spot Exchange-Traded Funds, opening the door to institutional capital and mainstream investors to trade the main crypto currency. The decision was hailed by the industry as a game changer.
The main advantage of crypto ETFs is the possibility of gaining exposure to a cryptocurrency without ownership, reducing the risk and cost of holding the asset. Other pros are a lower learning curve and higher security for investors since ETFs take charge of securing the underlying asset holdings. As for the main drawbacks, the main one is that as an investor you can’t have direct ownership of the asset, or, as they say in crypto, “not your keys, not your coins.” Other disadvantages are higher costs associated with holding crypto since ETFs charge fees for active management. Finally, even though investing in ETFs reduces the risk of holding an asset, price swings in the underlying cryptocurrency are likely to be reflected in the investment vehicle too.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Ethereum price has remained trapped below $2,000 as rising oil prices, renewed interest-rate concerns and BitMEX’s planned shutdown have tempered bullish sentiment despite continued spot ETF inflows.
Summary
Ethereum price remains below $2,000 as higher oil prices revive Federal Reserve rate-hike concerns. Spot ETF inflows and positive capital flows continue to support ETH above $1,900. A break above $1,955 could target $2,030, while losing $1,860 would weaken the recovery. According to data from crypto.news, Ethereum (ETH) price traded near $1,927 on July 23 after reaching an intraday high of $1,941. The token has recovered more than 27% from its June low near $1,514, but repeated failures around $1,955 have kept the psychological $2,000 level beyond buyers’ reach.
Oil supplied the latest macro pressure as Middle East tensions pushed crude prices higher for a fifth consecutive session. West Texas Intermediate rose above $90 a barrel after attacks by Iran-aligned Houthis on Saudi oil tankers raised concerns about regional supplies. Higher energy costs could feed inflation and reduce the Federal Reserve’s room to keep monetary policy unchanged.
Rate traders have already adjusted their positions. The probability of a September Fed hike rose to 79% from 68% per data from the CME FedWatch tool. Expectations for the July meeting remain centered on no change, but another oil-led inflation increase could lift Treasury yields and pressure risk assets such as Ethereum.
U.S. equities also weakened after Alphabet raised its 2026 capital-spending forecast to between $195 billion and $205 billion. The company recorded negative free cash flow of $5.9 billion as quarterly expenditure doubled to $44.9 billion, while its shares fell in premarket trading.
A retreat across technology stocks could limit speculative demand in crypto markets because both sectors remain sensitive to interest-rate expectations.
ETF demand has kept Ethereum above its rising support structure Institutional flows have provided a counterweight to the macro uncertainty. U.S. spot Ethereum ETFs recorded $72.64 million in net inflows on July 22, according to SoSoValue. BlackRock’s iShares Ethereum Trust accounted for $53.47 million, showing that regulated products continued to attract capital even as ETH struggled below $2,000.
BitMEX added a separate source of uncertainty after announcing that it would cease operations on Sept. 23 following a strategic review by parent company HDR Global Trading. The exchange told customers to close positions and withdraw funds before the deadline. BitMEX helped popularize perpetual swaps and has served more than 2 million professional and institutional traders since its 2014 launch.
Position transfers and forced closures at BitMEX could temporarily reduce liquidity or move leverage to rival exchanges. However, the announcement does not mean Ethereum’s global perpetual market will close, because Binance, Bybit, OKX and other venues operate larger derivatives businesses.
Ethereum’s daily chart remains constructive above the Supertrend support at $1,744.73. The indicator has stayed green during the July advance, while the Chaikin Money Flow reading of 0.12 shows that buying volume has exceeded selling volume over the indicator’s measurement period. Price must still close above the nearby $1,941–$1,955 ceiling before the daily structure opens a route toward $2,000.
Ethereum price daily chart — July 23 | Source: crypto.news According to analyst Ted Pillows, spot-market demand has protected the recovery’s main support zone.
“Spot demand is strong and the key support zone hasn’t been lost. IMO, Ethereum could begin its next move up in a few days.”
Pillows placed $2,030 as the first major upside barrier, followed by $2,179 and a heavier supply zone near $2,400. His chart also identified support between roughly $1,834 and $1,897, with lower demand areas around $1,730 and $1,540.
The 4-hour chart shows ETH compressing beneath $1,955.40 while holding an ascending trendline drawn from the June 26 low. Buyers have also defended the 78.6% Fibonacci retracement at $1,860.86, leaving the sequence of higher lows intact. A 4-hour close above $1,955 would clear the recovery high and place $2,000–$2,030 within reach.
Ethereum price 4-hour chart — July 23 | Source: crypto.news Momentum has weakened before that test. The 4-hour Relative Strength Index has fallen to 57.46 from its recent highs and sits below its signal average of 63.30. MACD has also registered a bearish crossover, with the MACD line at 13.48 beneath the 15.94 signal line and the histogram at minus 2.46. Neither indicator confirms a trend reversal, but both show that buyers have lost speed near resistance.
Break below $1,860 would invalidate the immediate breakout setup CoinGlass’s three-day liquidation heatmap places the largest nearby short-liquidation concentration around $1,958–$1,965. A move through that band could force bearish positions to close and accelerate a test of $2,000. The strongest downside liquidity sits near $1,895–$1,905, with another dense pocket around $1,875.
Ethereum liquidation heatmap | Source: CoinGlass Failure to hold the rising 4-hour trendline would expose the $1,860 Fibonacci level first. A close below that support would weaken the higher-low structure and raise the risk of a decline toward $1,786.63, followed by daily Supertrend support near $1,745. Losses below $1,745 would invalidate the current recovery thesis and reopen $1,682.
Oil supply disruptions, a higher September rate-hike probability, and forced position reductions before BitMEX closes remain the main external risks. Ethereum needs sustained spot volume above $1,955 to confirm a breakout; without it, liquidity around $1,900 may continue to pull price back into the established range.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Tesla's losses widened to 12% in early trading, weighed down by negative free cash flow.
According to BIT (bit.com) market data, Tesla’s early-session losses widened to 12%, trading at $329.015 per share, with a total market capitalization of $1.24 trillion. This morning, Tesla released its second-quarter (Q2) financial results: revenue reached $28.24 billion, exceeding market expectations and rising 26% year-over-year, marking its first year-over-year revenue growth rate above 20% in three years. However, Q2 operating profit was only $398 million, far below the market consensus of $1.39 billion; adjusted earnings per share (EPS) came in at $0.33, down 18% year-over-year and also missing forecasts significantly. Notably, Tesla’s Q2 free cash flow stood at -$1.09 billion, its first quarterly negative figure since Q1 2024.
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LayerZero announced a partnership with Keeta to support the transfer of tokenized commercial bank deposits across public blockchains including Keeta Network, Ethereum, Solana, and Base, providing institutional cross-chain settlement infrastructure. The two parties will combine LayerZero’s omnichain interoperability protocol with Keeta’s compliance infrastructure to enable institutions to conduct fund management and payment operations. The newly launched Keeta Stablecoins are backed by commercial bank deposits held by U.S.-licensed fintech platform Bivo. Unlike traditional stablecoins, they are pegged to actual commercial bank deposits and allow issuing institutions to retain control over contracts via LayerZero’s Omnichain Fungible Token (OFT) standard. Keeta Stablecoins will launch later this month, initially supporting the U.S. dollar, with plans to expand to additional fiat currencies including the euro, Japanese yen, Chinese yuan, British pound, Canadian dollar, Mexican peso, UAE dirham, and Hong Kong dollar.
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Swiss cantonal bank BancaStato has introduced cryptocurrency trading services for Bitcoin, Ethereum, Solana, and Litecoin directly within its web and mobile banking applications. The development makes BancaStato one of the first Swiss financial institutions to offer regulated digital asset trading to its retail clients through existing banking platforms.
Full integration with Avaloq and Sygnum infrastructureThe rollout was made possible by integrating Sygnum’s business-to-business crypto infrastructure with BancaStato’s Avaloq core banking system. Clients can access digital assets, place trades, and oversee their portfolios from the same digital interfaces they use for everyday banking.
BancaStato, founded in 1915 and serving the Canton of Ticino, has aimed to position itself at the forefront of digital innovation among Swiss regional lenders. The bank’s move introduces a regulated channel for clients to buy, sell, and hold cryptocurrencies alongside traditional financial products under a unified account.
Users can submit market orders in both crypto denominations and US dollar terms, with asset custody managed through Sygnum’s regulated platform.
Mini dictionary: Sygnum, a Swiss digital asset bank, provides regulated infrastructure for cryptocurrency custody and trading. Its API-based systems enable traditional financial institutions to offer direct digital asset services to their customers.
BancaStato offers cryptocurrency trading directly through its familiar banking channels, removing the need for separate trading platforms and simplifying access to digital assets for its account holders.
Operational benefits and regulatory safeguardsThrough this integration with Sygnum, BancaStato can provide institutional-grade custody, incorporating hardware security, software protections, governance procedures, and regular audits. Digital assets held by clients remain off the bank’s balance sheet and are segregated in compliance with Swiss financial regulations.
BancaStato is the first Avaloq software-as-a-service client to enable Sygnum-powered crypto trading directly via API. This approach reduces complexity by eliminating the need for a separate order management system while allowing the bank to adapt trading functionalities without major changes to core infrastructure.
The platform gives account holders the ability to manage both conventional and digital investments within a single online banking relationship, enhancing portfolio management and oversight capabilities.
BankLaunch DateCrypto Trading IntegrationTrading ChannelsBancaStatoJune 2026Yes (Sygnum & Avaloq)Online & Mobile BankingPostFinanceApril 2023Yes (Sygnum)Digital Banking PlatformsSygnum’s infrastructure is now used by over 25 Swiss and European banking institutions, extending digital asset access to nearly one-third of Switzerland’s population through its network of affiliated lenders.
Industry impact and regulatory evolutionBancaStato now joins a list of Swiss financial institutions, including PostFinance and Zuger Kantonalbank, that provide crypto trading and custody through Sygnum’s infrastructure. The integration expands regulated access to digital assets, addressing increasing demand among Swiss bank customers for innovative investment products.
On June 30, 2026, Sygnum Europe obtained official registration as a Crypto-Asset Service Provider under the European Union’s Markets in Crypto-Assets Regulation through supervision from the Liechtenstein Financial Market Authority. This approval is expected to further bolster the bank’s capability to offer compliant digital asset services across the EU, enhancing security and regulatory clarity for clients outside Switzerland.
With this move, BancaStato broadens its digital portfolio while maintaining its regulatory frameworks, enabling customers across Ticino and Switzerland to access cryptocurrency markets without leaving the protected environment of traditional banking applications.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Tokenized real-world assets have been the crypto industry’s favorite buzzword for two years running. Now someone is trying to do it with the most boring financial instrument imaginable: your bank deposit.
LayerZero, the omnichain messaging protocol that connects over 70 blockchains, has partnered with Keeta, a Layer-1 chain built for payments and fiat interoperability, to enable native cross-chain transfers of tokenized bank deposits. The integration spans Ethereum, Solana, Base, and Keeta’s own network.
What tokenized bank deposits actually are Think of a tokenized bank deposit as a digital twin of the dollars sitting in your checking account. Each token is backed 1:1 by an actual deposit at a regulated bank, retaining the protections and compliance features you’d expect from traditional banking. The difference is that these tokens can move on-chain, 24/7, across multiple networks.
This matters because stablecoins, for all their growth, exist in a regulatory gray zone that makes traditional financial institutions nervous. Tokenized deposits, by contrast, are designed to sit squarely within existing banking frameworks. They’re regulated. They’re backed. And they potentially carry the same federal insurance protections as the deposits behind them.
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The distinction is subtle but significant. Stablecoins like USDC are liabilities of the issuer (Circle, in that case). Tokenized deposits remain liabilities of the bank itself. For institutional players and regulators, that’s a meaningful difference in risk profile.
How LayerZero and Keeta make it work LayerZero’s role here is straightforward but critical. Its messaging protocol allows these tokenized deposits to move natively between chains rather than relying on wrapped assets or centralized bridges. The protocol is currently live on Solana’s mainnet beta and connects with Ethereum, Base, Avalanche, Polygon, Arbitrum, Optimism, and BNB Chain, among others.
Native transfers matter because wrapped tokens introduce counterparty risk. Every time you wrap an asset to bridge it, you’re trusting the bridge operator to actually hold the underlying token. LayerZero’s approach lets the asset move without that intermediary step, which is a big deal when the asset in question is supposed to represent insured bank deposits.
Keeta brings the payments infrastructure to the table. The Layer-1 blockchain claims to support millions of transactions per second with sub-second settlement times. Keeta’s native token is KTA, while LayerZero operates with its ZRO utility and governance token.
Why this partnership matters for the broader market Investors should pay attention to the competitive dynamics here. JPMorgan has been experimenting with tokenized deposits through its Onyx platform. Citigroup has run pilots.
No specific transaction volumes or total value locked figures are available for the partnership yet, which means the market is pricing this on potential rather than proven traction.
One risk worth flagging: the success of tokenized deposits depends heavily on banks actually participating. LayerZero and Keeta can build the pipes, but someone has to turn on the water. The partnership creates the technical capability for cross-chain deposit transfers, but adoption will ultimately be driven by whether regulated financial institutions see enough demand and enough regulatory clarity to commit.
For traders watching the ZRO and KTA tokens, the near-term catalyst is clear. Every new institutional partnership or bank integration announcement will likely move these assets. Given that global bank deposits measure in the tens of trillions, even capturing a fraction of that flow would be transformative for any protocol involved.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
A Swiss cantonal bank has moved crypto trading directly into its normal banking experience, and that is the part of the story that matters most.
BancaStato, the state bank of the Canton of Ticino, has partnered with Sygnum and Avaloq to let clients buy, hold, and sell Bitcoin, Ethereum, Litecoin, and Solana through its mobile and web banking channels.
This is not a crypto exchange launching another app. It is a traditional regional bank adding digital assets inside the banking platform its clients already use.
Sygnum is providing the digital asset banking and custody infrastructure, while Avaloq’s core banking environment is being used for the integration. The assets are held off-balance sheet in Sygnum’s institutional custody setup.
That is a very Swiss version of crypto adoption: regulated, integrated, custody-led, and built into the existing banking stack rather than presented as a retail trading spectacle.
TL;DR BancaStato has added Bitcoin, Ethereum, Solana, and Litecoin trading for clients. The service uses Sygnum’s B2B crypto banking API and Avaloq’s core banking environment. The move is a cantonal-bank adoption story, not a nationwide Swiss banking rollout. Why This Looks Different From A Normal Crypto Launch Most crypto access stories still have a similar shape.
An exchange adds a product. A fintech app adds a token. A wallet adds a new chain. Those launches can matter, but they usually sit outside the traditional banking relationship.
BancaStato’s move is different because it brings crypto into the bank interface itself.
For ordinary clients, that reduces friction. They do not need to open a separate exchange account or move money to a platform they may not know. They can access supported digital assets through a banking environment that already handles their financial relationship.
For institutions and conservative users, that matters even more.
The biggest barrier to crypto adoption is often not interest. It is trust, custody, compliance, and operational comfort. A cantonal bank working with Sygnum and Avaloq gives the service a more familiar structure.
That does not make crypto risk-free. Bitcoin, Ethereum, Solana, and Litecoin remain volatile assets. Clients can still lose money if prices move against them. But the access model is more bank-native than the typical retail exchange route.
Sygnum’s Role Is The Key Piece Sygnum has built its position around regulated digital asset banking, and this kind of partnership is exactly where that model becomes useful.
Banks that want to offer crypto do not always want to build custody, trading infrastructure, blockchain connectivity, compliance processes, and asset operations from scratch. That is expensive, slow, and risky.
A B2B provider gives them a shortcut.
Sygnum’s infrastructure lets BancaStato offer crypto access while leaning on a specialist digital asset bank for the custody and trading stack. Avaloq’s involvement then connects that service into the bank’s existing core system.
That is the real adoption signal.
Crypto becomes another product layer inside regulated banking infrastructure, not a separate universe.
If more banks choose that path, the industry may not grow through flashy retail apps alone. It may grow quietly through integrations that make digital assets feel like part of normal financial services.
Switzerland Keeps Building The Boring Version Of Crypto Adoption Switzerland has been one of the more serious crypto jurisdictions for years.
That does not mean every Swiss financial institution is rushing into digital assets. But the country has built a clearer lane for regulated custody, tokenization, banking integrations, and institutional services than many other markets.
BancaStato’s launch fits that pattern.
It is not a claim that all Swiss banks are now adopting crypto. It is not even a national rollout. It is one cantonal bank serving Swiss residents through a specific partnership.
But that is still meaningful.
Traditional finance adoption rarely happens all at once. It usually arrives through controlled launches, limited asset lists, custody partnerships, and client-demand testing. Banks start with major assets, watch how clients use the product, and then decide whether to expand.
Here, the supported list is conservative but notable: Bitcoin, Ethereum, Solana, and Litecoin. That gives clients exposure to the two largest crypto networks, one high-activity smart contract ecosystem, and one older payment-focused asset.
What To Watch Next The next question is whether this kind of integration becomes repeatable.
If Sygnum and Avaloq can help one cantonal bank bring crypto into its banking channels, the model may appeal to other banks that want to offer digital assets without becoming crypto-native operators themselves.
That would be more important than the launch size alone.
The market often gets excited about exchange volumes and ETF inflows, but bank distribution is another adoption route. It can bring crypto to clients who are interested but do not want to leave the regulated banking environment.
There are still limits. The rollout is local. The asset list is narrow. The risk remains with clients. And this should not be exaggerated into a national Swiss banking shift.
Still, BancaStato’s move shows how crypto access is becoming more embedded in traditional finance.
Not through a slogan. Through custody, APIs, core banking software, and a regulated bank willing to put the service in front of clients.
That is a quieter story than a bull-market exchange launch, but it may be more durable.
This article is based on announcements from Sygnum and BancaStato.
This article was written by the News Desk and edited by Samuel Rae.
Beefy Finance has deployed its Cowcentrated Liquidity Manager, or CLM, on the Ethereum mainnet. The product automates the notoriously tedious process of managing concentrated liquidity positions on Uniswap V3, targeting blue-chip pairs like AAVE-WETH, UNI-WETH, and LINK-WETH.
How the CLM actually works Concentrated liquidity, for those who haven’t been deep in the DeFi weeds, is the innovation Uniswap V3 introduced that lets liquidity providers focus their capital within specific price ranges rather than spreading it across the entire price curve. In English: instead of deploying $10,000 across every possible price from zero to infinity, you pick a narrower band where trading actually happens. Capital efficiency goes way up, but so does the management burden.
Beefy’s CLM pools user deposits together into aggregated positions. It then automates three critical functions: daily compounding of trading fees back into the position, range resets every six hours, and position rebalancing that avoids selling tokens during the adjustment process.
That last detail matters more than it sounds. Many automated liquidity managers rebalance by selling one token to buy the other, which can trigger taxable events and create MEV extraction opportunities for bots. Beefy’s approach redisposes positions into 50:50 allocations alongside single-sided “alt” positions, keeping liquidity active while reducing impermanent loss exposure relative to traditional automated solutions.
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When users deposit into a CLM vault, they receive cowTokens representing their stake in the pooled position.
Two years of track record, now on Ethereum The protocol has been running these vaults across various blockchains for nearly two years, managing hundreds of millions in total value locked without any recorded failures. The Ethereum mainnet launch is less of an experiment and more of a graduation ceremony.
The blue-chip pairs Beefy is targeting—AAVE-WETH, UNI-WETH, and LINK-WETH, along with WBTC/WETH and stablecoin pairs like USDC and USDT—represent some of the most actively traded combinations on Uniswap V3.
The 9.5% performance fee undercuts the market average for automated liquidity management products, which sits around 10%.
What this means for liquidity providers For retail liquidity providers, the value proposition is straightforward. You deposit into a vault, receive cowTokens, and the protocol handles range management, fee compounding, and rebalancing.
The impermanent loss mitigation aspect deserves particular scrutiny from investors. Beefy’s approach of using single-sided alt positions alongside standard 50:50 allocations is designed to reduce this exposure, though liquidity providers should understand that no mechanism eliminates impermanent loss entirely.
The risk factors include smart contract risk, dependency on Uniswap V3’s continued operation, and the inherent volatility of the underlying assets. A 9.5% performance fee also means Beefy only earns when depositors earn, which aligns incentives in the right direction, but doesn’t eliminate the possibility of periods where yields are thin or impermanent loss exceeds fee income.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Tesla's losses widened to 12% in early trading, weighed down by negative free cash flow.
According to BIT (bit.com) market data, Tesla’s early-session losses widened to 12%, trading at $329.015 per share, with a total market capitalization of $1.24 trillion. This morning, Tesla released its second-quarter (Q2) financial results: revenue reached $28.24 billion, exceeding market expectations and rising 26% year-over-year, marking its first year-over-year revenue growth rate above 20% in three years. However, Q2 operating profit was only $398 million, far below the market consensus of $1.39 billion; adjusted earnings per share (EPS) came in at $0.33, down 18% year-over-year and also missing forecasts significantly. Notably, Tesla’s Q2 free cash flow stood at -$1.09 billion, its first quarterly negative figure since Q1 2024.
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Abraxas Capital deposits 2,211 $BTC to Kraken and 30,825 $ETH to Binance
Abraxas Capital deposited 2,211 $BTC ($143.88M) into #Kraken and 30,825 $ETH ($59.19M) into #Binance over the past 8 hours.
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The US stock market's optical communication sector rose across the board, with Lumentum and AAOI gaining more than 7%.
According to market data from BIT (bit.com), the U.S. optical communication sector rallied across the board. Pure Photonics ETF FOTO and Corning advanced over 3%, Coherent and Ciena gained more than 4%, while Lumentum and AAOI jumped over 7%.
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$BTC ETFs +$709.47M, $ETH ETFs +$160.63M in 7-day inflows
Fourth security incident today: A PancakeSwap liquidity provider (LP) granted a malicious approval, resulting in losses of approximately $2.96 million.
According to Specter’s monitoring, a long-inactive PancakeSwap liquidity provider (LP) suffered a loss of roughly $2.96 million after signing a malicious EIP-7702 authorization. The attacker drained approximately $1.48 million in BSC-USD and $1.48 million in BUSD liquidity provided by the victim, then swapped the BUSD for ETH. To date, the attacker has deposited around $1.46 million into Tornado Cash, with the remaining roughly $1.48 million in USDT still held in the attacker’s address.
Three separate crypto protocols got carved up within a single 24-hour window, with combined losses topping $35.5 million. The victims span three different chains, three different attack vectors, and one very familiar story: bridges remain the soft underbelly of decentralized finance.
The largest hit landed on AFX, an Arbitrum-based protocol that lost approximately $24.15 million in USDC through a bridge exploit on July 22. BSquaredNetwork on BNB Chain saw $3.86 million in B2 tokens drained. And the Verus cross-chain bridge on Ethereum hemorrhaged $7.55 million, a wound made worse by the fact that Verus had already been exploited for roughly $11.58 million back in May.
How each exploit played out The AFX breach was the headliner. Attackers siphoned $24.15 million in USDC from the protocol’s bridge infrastructure on Arbitrum, then moved the funds to Ethereum and swapped them into around 12,467.5 ETH.
BSquaredNetwork’s exploit was smaller in dollar terms but arguably messier for holders. The $3.86 million in stolen B2 tokens were exchanged for more than 5,000 WBNB, which were then converted into roughly 1,128 ETH. The sell pressure from the dump sent B2’s price cratering more than 15%.
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Then there’s Verus. The $7.55 million loss on July 23 is concerning on its own, but context makes it worse. This is the same cross-chain bridge that suffered an approximately $11.58 million exploit in May 2026. That means Verus has lost north of $19 million in roughly two months to what appear to be related security vulnerabilities.
PeckShield, the blockchain security firm, was among the first to flag each incident on-chain.
A brutal quarter for crypto security These three exploits didn’t happen in a vacuum. According to data from TRM Labs, the first half of 2026 saw a record 207 security incidents. Q2 alone accounted for $764 million stolen across 67 separate incidents, with operational weaknesses cited as a primary attack surface.
Vitalik Buterin flagged bridge security risks as far back as 2022, arguing that multi-chain futures would not be secured by the same trust assumptions as single-chain applications.
What this means for investors B2’s 15%-plus price drop is the most direct example of immediate market impact. When three protocols get exploited in a single day, it puts a chill on risk appetite across the broader DeFi ecosystem.
The $764 million stolen in Q2 2026 alone represents real capital permanently removed from the ecosystem. That’s money that funded development, provided liquidity, and backed lending markets.
For individual investors, the Verus situation is particularly instructive: a protocol that gets exploited once and doesn’t fully remediate its vulnerabilities before getting hit again is broadcasting something important about its security posture. The first hack might be bad luck. The second one is information.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Ring Protocol integrates Orbs-powered dLIMIT and dTWAP orders across Base, Ethereum, Arbitrum, and BNB Chain.
Summary
Ring Protocol adds decentralized limit and TWAP orders across four major EVM-compatible blockchain networks on-chain. Orbs’ Layer 3 infrastructure powers advanced execution while users retain self-custody of their assets on-chain. dLIMIT controls execution prices, while dTWAP divides large trades to reduce market pressure over time. Ring Protocol, a multi-chain decentralized exchange has integrated Orbs-powered dLIMIT and dTWAP. The update brings decentralized limit and time-weighted average price orders to users across Base, Arbitrum, Ethereum, and BNB Chain. The integration uses Orbs’ Layer 3 infrastructure to give traders more control over execution while keeping assets in self-custody and adding no extra cost for the advanced order features.
Advanced orders reach Ring Protocol users The dLIMIT protocol lets traders set a target price for a buy or sell order. The trade executes only when the specified price is reached or improved. This structure gives users more control over when a transaction occurs and removes the need to rely on a centralized intermediary for the order.
The dTWAP protocol supports a different execution method. It divides a large trade into smaller transactions and executes them over a period chosen by the user. The approach can reduce the market effect of a large order and improve execution efficiency when trading through on-chain liquidity. Both tools operate directly on-chain through Orbs’ decentralized infrastructure.
Orbs layer 3 extends DEX trading functions Orbs built dLIMIT and dTWAP as permissionless and composable protocols that extend existing decentralized exchanges without requiring changes to their underlying infrastructure. Its Layer 3 blockchain uses a Proof-of-Stake validator network to handle complex trading logic that goes beyond the functions available through native smart contracts.
“Advanced trading tools should be available to every DeFi user, not just professional traders,” said Ran Hammer, Chief Business Officer at Orbs. He said the Ring Protocol integration expands access to more precise and flexible on-chain execution. Hammer also said wider adoption of Orbs-powered protocols is intended to raise the standard for decentralized trading infrastructure.
Ring Protocol builds on few protocol architecture Ring Protocol is built around Few Protocol, also called Financial Elastic Wrapping. The asset layer wraps tokens before they interact with automated market makers. According to the project description, the design supports virtual liquidity and additional trading functions beyond conventional decentralized exchange structures. Ring Protocol also uses its native Ring Swap automated market maker and integrations with leading DEX aggregators.
The protocol has facilitated more than $5 billion in cumulative trading volume and currently secures more than $30 million in total value locked. Ring Protocol’s own documentation describes Few Protocol as its asset layer and Ring Swap as its native AMM and routing system, providing further detail on the platform’s core structure.
Integration expands Orbs-powered DeFi infrastructure The Ring Protocol integration adds another trading venue to the list of decentralized exchanges using Orbs-powered order tools. PancakeSwap, SushiSwap, and QuickSwap among the exchanges that have already adopted dLIMIT and dTWAP. The broader rollout has made the protocols widely deployed tools for advanced on-chain trading across the DeFi sector.
For Ring Protocol users, the integration adds decentralized limit orders and TWAP orders without giving up self-custody. It also gives both retail and professional participants access to more flexible execution strategies across four EVM networks. The update strengthens Ring Protocol’s trading infrastructure while continuing Orbs’ expansion of decentralized execution technology across existing exchange platforms. It also broadens the range of execution choices available within decentralized markets. The tools remain available while users retain direct control of assets.
Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Service launch broadens Swiss banking access to regulated cryptocurrency products.
A Swiss cantonal financial institution, BancaStato, has introduced regulated digital currency trading capabilities within its banking applications by leveraging Sygnum’s cryptocurrency infrastructure alongside Avaloq’s banking technology. This new functionality enables account holders to purchase, store, and liquidate Bitcoin, Ethereum, Solana, and Litecoin directly through the bank’s current web and mobile interfaces. The implementation strengthens BancaStato’s digital investment portfolio while maintaining cryptocurrency services within its supervised banking framework.
Cryptocurrency Trading Embedded Within BancaStato’s Banking Infrastructure The integration was achieved by connecting Sygnum’s business-to-business application programming interface with BancaStato’s Avaloq core banking system. Account holders gain access to digital currency trading using the identical applications they currently utilize for traditional banking and investment activities. By incorporating digital assets directly into established services, the financial institution eliminated the necessity for a standalone trading interface.
Upon release, BancaStato provides trading capabilities for Bitcoin, Ethereum, Solana, and Litecoin. Account holders can place market orders denominated in either cryptocurrency units or corresponding U.S. dollar amounts. The bank maintains portfolio oversight within its established digital banking interface.
Sygnum processes all cryptocurrency transactions via its regulated infrastructure while delivering institutional-quality custody solutions. The custody architecture incorporates hardware security, software safeguards, governance protocols, and independent auditing. Furthermore, client digital assets are maintained separately from the institution’s balance sheet in accordance with regulatory mandates.
Digital Asset Services Extended Through Sygnum’s Banking Infrastructure This deployment positions BancaStato among over 25 financial institutions utilizing Sygnum’s business-to-business banking infrastructure. The implementation designates the bank as the inaugural institution on Avaloq’s software-as-a-service platform to activate Sygnum-facilitated crypto trading via direct API connectivity. This methodology diminishes operational intricacy by eliminating separate order management system requirements.
The streamlined architecture enables BancaStato to modify trading capabilities while preserving its existing banking infrastructure. The framework facilitates risk oversight without introducing supplementary operational tiers. Account holders administer conventional investments alongside digital assets through a unified banking relationship instead of disparate platforms.
Established in 1915, BancaStato provides financial services throughout the Canton of Ticino in southern Switzerland. The institution continues broadening its investment product range while preserving its regulated banking framework. The cryptocurrency integration incorporates digital assets without altering the customer interface across its digital channels.
Industry Context for BancaStato’s Digital Asset Integration Sygnum maintains its expansion of regulated digital asset infrastructure for financial institutions throughout Switzerland and broader Europe. Its collaborative network currently delivers digital asset access to over one-third of Switzerland’s population via affiliated banking institutions. Prior integrations encompass entities including PostFinance, Zuger Kantonalbank, Bordier & Cie, and SocGen FORGE.
The infrastructure has experienced consistent growth in recent years as conventional banks enhanced digital asset product offerings. Earlier implementations revealed significant demand from banking clientele utilizing integrated cryptocurrency services in conjunction with traditional financial instruments. PostFinance subsequently broadened its Sygnum-enabled service portfolio by introducing Ethereum staking capabilities through its established banking platforms.
The BancaStato deployment represents another significant achievement for Sygnum’s European activities. On June 30, 2026, Sygnum Europe obtained Crypto-Asset Service Provider authorization under the European Union’s Markets in Crypto-Assets Regulation via Liechtenstein’s Financial Market Authority. This regulatory approval enhances supervised digital asset services for banking institutions across the European Union while facilitating future growth through proven banking infrastructure.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Following BitMEX's announcement of its shutdown, the BMEX token plummeted by 92%, with its market cap falling to just $480,000.
According to HTX market data, after BitMEX announced today that it will officially shut down on September 23, its native token BMEX plummeted by 92% to $0.005, with a market capitalization of just $480,000. Notably, the platform’s current handling of BMEX tokens is extremely limited, with no additional compensation or special arrangements. The only clear action specified in BitMEX’s official shutdown announcement today is that the platform has immediately un-staked all staked BMEX and returned them directly to holders’ accounts. Per BitMEX’s prior notice, BMEX is a purely platform utility token, not equity, debt, or an asset with promised returns. The official disclaimer states that BMEX is only used on the BitMEX platform for features such as fee discounts and staking rewards, does not constitute an investment, and the platform assumes no responsibility for refunds or exchanges.
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Layer1 project Vanar announces it will migrate its infrastructure to Base, with a 1:1 token migration for the VANRY token.
Layer 1 project Vanar has announced it will migrate its infrastructure to Base. Existing VANRY token holders can complete token migration at a 1:1 ratio, with their holding amounts remaining unchanged. Meanwhile, the total supply of VANRY will increase from 2.4 billion to 10 billion tokens, of which approximately 62% will stay locked during the migration. Upon completion of the migration, Vanarchain validator staking will be halted.
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Binance Alpha conducts the third round of TRUTH airdrop distribution, with a point threshold of 256 points.
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Changxin Technology will list on the STAR Market of the Shanghai Stock Exchange on July 27, with its current Pre-IPO price quoted at around 45.54 yuan.
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Citigroup cuts Coinbase's price target to $235
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Citrini Analyst: Don't Underestimate Yangtze Memory's Competitiveness, NAND Flash Will Remain in Persistent Shortage
Citrini analyst Jukan stated in a social media post: "Don’t underestimate the competitiveness of Yangtze Memory Technologies (YMTC). The NAND flash market remains supply-tight, and this shortage will persist. It is reported that NVIDIA’s CMX cabinets are currently severely impacted by the NAND supply shortage, unable to even ship with full configurations. Some customers preparing to purchase CMX cabinets have reportedly been asked to source part of the NAND themselves to complete the full unit setup. I am not a NAND bear. Yangtze Memory still relies heavily on the consumer market, and its competitiveness should not be overlooked, but this does not mean it will push the NAND market back into oversupply."
In brief AFX Trade, a perpetuals exchange on Arbitrum, was drained of about $24 million in an exploit that hit a USDC bridge the protocol itself operates. The exchange said the breach was isolated to that bridge and the exact attack vector is still under investigation; on-chain trackers say the funds were swapped for 12,468 ETH. AFX has halted the bridge and publicly offered the attacker a deal—return 70% of the funds and keep the rest as a "white hat bounty." AFX Trade, a decentralized perpetuals exchange on Arbitrum that settles in the stablecoin USDC, was drained of $24.15 million on Wednesday in an exploit that hit a bridge the protocol operates, security firm Blockaid said.
In a tweet, AFX said the exact attack vector remains under investigation. The on-chain money trail shows that the attacker bridged the stolen USDC to Ethereum and swapped it for 12,468 ETH, now sitting in a single wallet, PeckShield said.
AFX is aware of an incident involving the AFX-operated USDC custody bridge on Arbitrum.
Upon detecting the incident, we immediately suspended bridge operations and initiated our incident response procedures. Our engineering and security teams are actively investigating the root…
— AFX Trade (@AFX_XYZ) July 23, 2026
Arbitrum moved fast to put distance between itself and the protocol. Co-founder Steven Goldfeder said the network's native bridge "has not been hacked or exploited in any way," and that the transaction came from a third-party protocol. A breach of Arbitrum's own bridge would ripple across the entire layer-2; a compromised app sitting on top of it is a contained failure.
AFX suspended bridge operations and said the damage looked "isolated to the AFX-operated custody bridge," noting that neither its trading infrastructure and mainnet, nor the Arbitrum network itself, had been compromised.
The firm added that it was working with ecosystem partners and security firms to trace the stolen assets. Hours later, AFX's head of growth, Ken C, offered the attacker a way out: return 70% of the haul and keep the other 30% as a "white hat bounty." Such public pleas have become a recurring feature of crypto exploits—Solana's Drift Protocol tried the same after its $285 million hack in April.
The theft extends a brutal year for DeFi, which has lost more than $840 million to hacks in 2026. It lands close to home, too, with fellow Arbitrum perpetuals venue Ostium drained of $18 million through a compromised oracle key just a week earlier.
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AFX Trade, a decentralized perpetuals exchange operating on the Arbitrum blockchain and settling trades in USDC, suffered a major exploit on Wednesday. An attacker managed to drain approximately $24.15 million by targeting the platform’s custody bridge.
Details of the BreachAFX Trade is known for offering perpetual trading services managed via smart contracts, allowing traders to gain leveraged exposure to various cryptocurrency assets. The exploited bridge serves as a component for moving funds between Arbitrum and Ethereum, facilitating cross-chain access for its users.
Rather than exploiting a flaw in a smart contract, the attacker utilized hot-validator signatures tied to the custody bridge. According to Vladimir S., security chief at Legalblock, five validator signatures approved the withdrawal, surpassing the two-thirds approval threshold required by the bridge protocol. After a 200-second dispute window elapsed without challenge, the contract released the funds as intended.
PeckShield, a blockchain security firm, reported that the attacker transferred the stolen USDC to Ethereum and swapped it for roughly 12,467 ETH, which remains consolidated in a single wallet.
Mini dictionary: Hot-validator signatures, digital signatures generated by bridge validators tasked with approving transactions; “hot” implies continuous online access, which potentially exposes keys to greater risk compared to “cold” offline storage. The security of such bridges relies on multi-signature schemes, where compromise of a quorum can lead to asset loss.
Bridge Security and ResponseSteven Goldfeder, co-founder of Offchain Labs, the developer behind Arbitrum, clarified that the native Arbitrum bridge remained secure and had not suffered any breach or exploit.
Steven Goldfeder, co-founder of Offchain Labs, emphasized that the incident affected an external bridge whose validators approved the withdrawal, and not the core Arbitrum infrastructure.
Security experts pointed out that this exploit continues the trend seen throughout 2026, where attackers opt to compromise off-chain elements like private keys and signature authorities, rather than directly targeting smart contract vulnerabilities.
Recent Security Challenges for Arbitrum ProtocolsEarlier in April, Drift Protocol lost around $285 million after attackers gradually gained privileged access. Just last week, an oracle attack drained $18 million from Ostium, another Arbitrum-based protocol. These incidents highlight the evolving tactics of attackers seeking to exploit the weakest links in DeFi’s security architecture.
In response to recent exploits, the Arbitrum Security Council, a body responsible for safeguarding network integrity, took the rare step of freezing $71 million in ETH related to the Kelp DAO bridge compromise. This action led to debate about the extent of emergency powers in networks that market themselves as decentralized.
In the AFX Trade case, the attacker quickly bridged funds to Ethereum and swapped the proceeds, potentially making asset recovery even more challenging and further distancing the funds from protocol control.
ProtocolDate of ExploitMethodLoss (USD)AFX TradeJune 2026Bridge validator compromise$24.15 millionDrift ProtocolApril 2026Privileged access (private key)$285 millionOstiumMay 2026Oracle manipulation$18 millionRecent events have led to renewed scrutiny of cross-chain infrastructure’s security, and the ability of DeFi networks to respond to increasingly sophisticated attack vectors.
Repeated incidents have fueled ongoing debate about the trade-offs between decentralization and emergency protocol intervention as Arbitrum-based platforms seek to balance user security with network autonomy.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Fundstrat’s Tom Lee is in the news today after he stated that the market may be underestimating the chances of the CLARITY Act passing. That’s not all though as he also believes Ethereum [ETH] could benefit from growth linked to AI, bringing his ETH predictions back into focus.
Prediction markets too cautious about the CLARITY Act? In a recent post, Lee supported comments from Fundstrat’s Head of Digital Asset Strategy, Sean Farrell. The latter said that private discussions with policymakers were much more positive than the odds shown on Polymarket and Kalshi.
Source: X Farrell also questioned whether those markets accurately reflect informed expectations. He noted that liquidity remains limited, while newer restrictions prevent Senators and other political insiders from trading on outcomes connected to their work.
Lee argued that these rules may reduce the amount of informed activity reaching prediction platforms. As a result, traders may be placing too much confidence in the probabilities currently on display.
Ethereum is approaching a significant resistance zone that analysts view as a major inflection point for its next price movement. As large investors and new wallets accumulate ETH and increase staking, market observers note growing confidence in the long-term prospects of the world’s second-largest blockchain platform.
Resistance, momentum and market structureEarly Friday, Ethereum traded at $1,936.08, with its 24-hour trading volume reaching $10.69 billion and total market capitalization standing at $233.75 billion. Technical analysts identified a critical resistance range between $2,160 and $2,400. According to Crypto Patel, this zone includes the bear market order block and a fair value gap—technical indicators commonly used to judge momentum shifts.
A sustained breakout above this resistance is viewed by analysts as necessary to confirm upward momentum and break the prevailing bearish structure. Many market participants believe that such a move could reinforce bullish sentiment and set the stage for a potential target around the $10,000 mark in the more distant future.
At the convergence of the $2,160–$2,400 resistance band, analysts see a make-or-break scenario for Ethereum’s mid-term price trend, emphasizing that without a decisive close above this range, bearish tendencies could remain intact.
Conversely, if Ethereum fails to overcome these resistance levels, some suggest that it could move lower to test support in the $1,500 to $1,000 range, which analysts also identify as a potential long-term accumulation area for investors.
Market observers underscore the need for confirmation from price action, rather than relying solely on projections or sentiment, before drawing conclusions about future trends.
Whale accumulation and staking activityOn-chain data from blockchain analytics firm Lookonchain highlighted a recent surge in whale participation. Large holders, often influential in setting market tone, have been increasing their positions during periods of market uncertainty. One prominent address, 0x4cee, which had been inactive for three months, executed a sizeable purchase, investing $20 million USDC to acquire 10,501 ETH at an average price of $1,905 per coin.
In another example, a newly created wallet withdrew 12,800 ETH—valued at $24.47 million—from Binance and proceeded to stake the entire amount. Analysts interpret such moves as a sign of confidence in the long-term utility of the Ethereum network and note that increased staking reduces liquid supply on exchanges, potentially supporting price resilience.
Mini dictionary: Staking, the process by which users lock up their ETH to support network operations in exchange for rewards, helps secure Ethereum’s proof-of-stake consensus mechanism.
Address/WalletAmount AcquiredAverage Purchase PriceAction0x4cee10,501 ETH$1,905Large purchaseNew wallet12,800 ETH$1,912Withdrawal & StakingMarket trends and outlookThe broader market environment has also shown signs of improvement, with Bitcoin trending upward, contributing to the optimism among Ethereum holders. Despite renewed bullish price projections, analysts remind investors that failure to surpass the resistance could force Ethereum to seek support at lower price levels, consolidating before any potential rebound.
Analysts stress that a decisive breakout above $2,400 could mark the start of a new bullish phase for $ETH, while a rejection may lead to further consolidation or a move towards stronger support zones.
As Ethereum’s price movement remains closely watched, market participants continue to assess both on-chain signals and broader macro trends to guide their strategies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
A sharp reversal in Ethereum staking dynamics has taken shape. The validator exit queue—which ballooned past 2.6 million ETH in September 2025—has fallen to zero, according to data from Arkham and beaconcha.in cited in the original report. For the first time in months, unstaking requires no wait at all. Meanwhile, the entry queue tells a different story: roughly 2.48 million ETH is lined up to join the consensus layer, facing an estimated delay of 43 days.
That asymmetry—zero time to leave, over a month to get in—captures a moment where capital is tilting back toward Ethereum’s core infrastructure. Total staked ETH sits at about 40.9 million, representing 33.55% of the circulating supply, spread across roughly 885,000 active validators. The annualized reward hovers at a modest 2.64%, which makes the renewed staking appetite more notable.
From a Wall of Exits to an Empty Queue The earlier exit congestion was partly driven by regulatory unease and market pressure during the 2025 drawdown. Validators wanting to unwind staking positions faced weeks of waiting, and the queue served as a visible thermometer of stress. Its collapse now implies that forced selling from validators has eased dramatically. New exit requests are clearing almost instantly, removing a supply overhang that had weighed on sentiment.
But the absence of an exit queue also changes the calculus for liquid staking protocols and institutional validators. With no friction on the way out, staked ETH behaves more like a liquid instrument than a locked commitment. That could lower the barrier for more conservative capital to participate, even at a 2.64% APR.
What the Entry Queue Signals A 43-day wait to start earning rewards is not trivial. Yet demand persists, suggesting that participants are looking beyond the headline yield. Some of it may reflect expectations of future network fee growth once on-chain activity picks up; validator rewards are partially derived from priority fees and MEV, not just issuance. In weeks where execution-layer activity runs hot, real APR can punch far above the average.
This trend aligns with Ethereum’s continued dominance in developer engagement. As covered in BlockchainReporter’s latest developer activity rankings, Ethereum still commands the lion’s share of weekly commits and active contributors. Developers staying close to the base layer tend to reinforce staking demand, because running a validator often doubles as a way to stay plugged into network upgrades.
The institutional dimension also matters. While Ethereum staking yields remain compressed, dedicated staking-as-a-service firms and exchange-traded products are maturing. Parallel moves in other ecosystems—such as the institutional staking push behind SUI’s recent 18% price surge, detailed here—illustrate how structured staking products can attract capital even when headlines are quiet. Ethereum, with its deeper liquidity and custody rails, is arguably the main beneficiary of that institutionalization.
Broader Market Context The staking queue shift occurs as the on-chain economy is seeing renewed activity in adjacent sectors. Real-world asset tokenization recently crossed $20 billion in on-chain value, and major TradFi players have begun settling tokenized Treasury transactions directly with banks, a turning point noted in this weekly roundup. When the broader blockchain ecosystem tips toward institutional-grade settlement, the asset that underpins settlement—ETH—tends to attract long-term staking flows rather than short-term speculative trades.
What remains uncertain is whether the entry queue will translate into a sustained increase in the staking participation rate, or if it mainly reflects rotation among existing validators. A total of 33.55% of ETH supply already staked leaves limited headroom before consensus-layer liquidity risks begin to surface. Some analysts have raised concerns about the health of validator set diversification if the entry queue is dominated by a handful of large operators.
Even so, the 43-day entry wait, combined with zero exit friction, gives Ethereum’s staking mechanism a self-regulating quality. If rewards become too dilute, participants can leave without penalty. That market-driven guardrail matters in an environment where the Federal Reserve’s rate path, SEC rulemaking, and global stablecoin legislation can quickly alter the risk-reward calculation for yield-bearing crypto assets.
The Road Ahead For traders and protocol designers, the immediate takeaway is that staking infrastructure no longer looks strained on the exit side. That could reduce selling pressure from redemptions and make ETH more attractive as collateral in DeFi. For validators, the queue data offers a clear signal: the rush for the door is over, and a new cohort is quietly taking its place.
AUTHOR
Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
Ethereum [ETH] appears to be following a familiar seasonal pattern this July.
According to CoinGlass data, July has historically been one of ETH’s strongest months, with an average return of over 10%. Bitcoin [BTC], meanwhile, has averaged around 7% over the same period, giving ETH a clear seasonal edge. Against this backdrop, Token Terminal’s latest report adds another layer to the bullish setup.
As the chart below shows, Ethereum’s weekly transaction count has climbed to a record 18.7 million, while median transaction fees have dropped to an all-time low of just $0.008. Record-high usage paired with record-low fees is a strong sign that Ethereum’s scaling upgrades are finally paying off.
Source: Token Terminal Backing this up, another report highlighted a sharp increase in developer activity. New smart contract deployments are up around 192%, with another 57% jump over the past week alone. Rising developer activity alongside record network usage points to improving fundamentals beneath Ethereum’s recent rally.
Historically, this kind of setup has often fueled bigger rallies. That’s why ETH’s move above $2,000 looks within reach. The logic is simple: Capital isn’t just flowing into ETH. Instead, it’s also flowing on-chain, suggesting investors are doing more than simply chasing price. Still, CryptoQuant isn’t fully convinced.
According to its latest report, Ethereum’s Perp Futures-to-spot Volume Gap on Binance remains elevated, even as the Z-score continues to cool. In other words, leveraged activity is still outpacing spot demand. CryptoQuant noted that much of ETH’s recent price action appears to be driven by perpetual futures rather than sustained buying from long-term investors.
That raises an important question: Has the market become too optimistic about Ethereum’s breakout?
Ethereum’s rally faces its biggest leverage test yet Binance is the key exchange to watch.
Interestingly, net stablecoin inflows to Binance have jumped around 370%, reaching more than $58 million in daily inflows. Simply put, instead of flowing on-chain, much of that capital is staying on the exchange, suggesting investors are positioning for the next move rather than deploying funds immediately.
However, there’s another side to the story. As the chart below shows, Binance’s Funding Rate has also surged, now sitting 200% above its 90-day baseline. That points to traders increasingly using leverage, meaning a large portion of the fresh liquidity may be flowing into perpetual futures instead of the spot market.
Source: CryptoQuant That lines up with CryptoQuant’s latest report.
With smart contract deployments up 192%, stablecoin liquidity building, and funding rates up 220%, three key signals are now moving together: stronger builder activity, fresh capital waiting on the sidelines, and rising leverage. It’s a bullish setup, but one that’s becoming increasingly dependent on leveraged traders.
However, spot demand from long-term holders is still missing. That suggests traders may be getting too optimistic about Ethereum’s breakout above $2,000. Until spot buyers step in, the rally could remain vulnerable to a leverage-driven pullback.
Final Summary Ethereum’s rally is backed by strong on-chain activity and growing developer adoption. But rising leverage and weak spot demand could make the breakout fragile.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
According to data from Farside Investors, U.S. spot Bitcoin ETFs logged a total net inflow of $69.1 million yesterday. BlackRock’s IBIT led with a $38.8 million net inflow, followed by Fidelity’s FBTC at $21.5 million, Bitwise’s BITB at $5.4 million, and MSBT at $3.8 million. Grayscale’s GBTC, however, saw a net outflow of $38.3 million, while all other products had zero net flow. In the same period, U.S. spot Ethereum ETFs posted a total net inflow of $72.7 million: BlackRock’s ETHA took in $53.5 million, Fidelity’s FETH added $19.2 million, and all other products recorded no net flow.
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Crypto Market Review Q2 2026: Prices plunged, but the biggest story wasn't the sell-off. See what quietly reshaped crypto this quarter.
HIGHLIGHTS
Bitcoin closed June near $58,000, while Ethereum fell 25% during the quarter. Stablecoin market capitalization reached a new record of $323 billion. Tokenized real-world assets (RWAs) grew beyond $28.9 billion despite weaker crypto prices. Hyperliquid nearly doubled its perpetual DEX market share, emerging as one of Q2's biggest winners. Frequently Asked Questions
The market had a difficult quarter, with Bitcoin and Ethereum posting heavy losses as ETF outflows and weak sentiment weighed on prices.
Persistent ETF outflows, capital moving into AI stocks, and broader market uncertainty pushed Bitcoin down toward $58,000
Ethereum faced upgrade delays, institutional selling, and concerns that Layer-2 networks were reducing mainnet activity.
Stablecoins, tokenized real-world assets (RWAs), and prediction markets continued to expand throughout the quarter.
Hyperliquid dramatically increased its perpetual futures market share, strengthening its position as the leading perp DEX
The GENIUS Act moved into implementation, MiCA reached its compliance deadline, and Japan introduced friendlier crypto tax rules.
Key areas include potential Fed rate cuts, Ethereum and Solana network upgrades, ETF flows, and major blockchain conferences.
No. Traditional finance continued expanding into crypto through tokenized funds, stablecoin initiatives, and infrastructure investments.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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Bitcoin held near the $66,000 mark on Wednesday as crypto market sentiment remained in the neutral zone and spot ETF inflows turned positive.
Senate Republicans unveiled an updated CLARITY Act draft featuring a ban on senior U.S. officials, including President Donald Trump, from sponsoring crypto for compensation until January 2029.
Notable Statistics:
Coinglass data shows 63,900 traders were liquidated in the past 24 hours for $161.26 million. SoSoValue data shows net inflows of $203.1 million from spot Bitcoin ETFs. Spot Ethereum ETFs saw net inflows of $37.5 million. In the past 24 hours, top losers include DeXe, Stable and Midnight. Notable Developments:
Trader Notes:
Crypto chart analyst Ali Martinez highlighted $70,920 as Bitcoin’s key resistance level, based on the MVRV Pricing Bands. He said this level could trigger selling pressure as it aligns with the aggregate investor cost basis.
A sustained close above $70,920 would be needed to absorb overhead supply and confirm the continuation of Bitcoin’s rebound.
Trader KillaXBT believes Bitcoin has already formed its cycle bottom. He expects a liquidity sweep above the current range highs, followed by a false breakout and a drop below $62,000 to establish a higher low.
The anticipated correction is expected to be driven by weakness in traditional financial markets rather than crypto-specific factors.
Grayscale highlighted that, "The CLARITY Act can do for the industry what crypto ETFs did: unlock the next wave of adoption."
Photo: Sebastian Duda on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
Leading cryptocurrencies flatlined on Wednesday as investors weighed the implications of the Clarity Act and rising geopolitical tensions in the Middle East.
Crypto Rally CoolsBitcoin failed to break through $67,000 and slipped back to $65,000 after encountering strong selling pressure. Ethereum wobbled in the narrow range between $1,900 and $1,950, while XRP and Dogecoin also moved sideways.
Earlier, Senate Republicans released an updated draft of the Clarity Act that introduced new ethics provisions to limit cryptocurrency investments by the president and other federal officials.
Over $180 million was liquidated from the cryptocurrency market in the last 24 hours, predominantly in long positions, according to Coinglass data
Bitcoin’s open interest slid 2.18% over the last 24 hours. Binance derivatives traders bought the dip, with both retail and whale players increasing their long exposure to the leading cryptocurrency.
"Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.26 trillion, following an increase of 0.82% over the last 24 hours.
Stocks Close in the RedStocks ticked lower on Wednesday. The Dow Jones Industrial Average fell 6.06 points, or 0.01%, to close at 52,218.58. The S&P 500 slid 0.14% to close at 7,498.96, while the tech-heavy Nasdaq Composite lost 0.57% to settle at 25,690.90.
Geopolitical tensions remained elevated as Secretary of State Marco Rubio accused Iran of not being “serious” about negotiations. He added that Iran’s demands to control transit through the Strait of Hormuz could “never be allowed to happen.”
Will Bitcoin’s Rebound Lose Steam?Ali Martinez, a widely followed cryptocurrency analyst and trader, identified $70,920 as the next major resistance to watch for Bitcoin.
“Securing a close above $70,920 is required to clear this overhead supply and confirm the continuation of the BTC rebound,” the analyst added.
On-chain analytics firm CryptoQuant noted that despite Bitcoin’s recent uptick, spot buying has remained “thin,” with leverage doing the heavy lifting.
“No overheating yet, but not a rally on solid footing either. Watch for spot volume to actually warm up before chasing price,” the firm added.
Photo Courtesy: PJ McDonnell on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
AFX suffered a $24.15 million USDC loss after an attacker targeted a cross-chain bridge linked to the trading protocol on July 22.
Summary
AFX’s cross-chain bridge lost $24.15 million USDC while Arbitrum’s native bridge remained unaffected during attack. The exploiter moved stolen USDC to Ethereum and converted the proceeds into 12,467.5 ETH afterward. Security firms are tracing the stolen funds as AFX and Arbitrum teams investigate the breach. The incident triggered an investigation by Blockaid and the Arbitrum team, while on-chain trackers followed the stolen funds to Ethereum.
The attack did not affect Arbitrum’s native bridge. AFX operates its own sovereign Layer 1 for perpetual trading but accepts USDC deposits through Arbitrum. The affected infrastructure was a third-party bridge operated by AFX rather than Arbitrum’s core bridge.
AFX bridge loses $24.15 million USDC Blockaid said it detected the exploit at 9:30 p.m. UTC on July 22. The firm said the attack targeted a bridge operated by AFX and drained about 24.15 million USDC. An Arbiscan record shows a successful transfer of 24,150,000 USDC from the bridge contract to the recipient address at 9:30:25 p.m. UTC.
Blockaid detected an exploit at 2026-07-22 21:30 UTC targeting @AFX_XYZ, a protocol on @arbitrum. The exploit was specific to a bridge that AFX operates. Approximately 24.15M USDC has been drained thus far from the protocol.
Our team has been working with the incredible folks on… https://t.co/0Qd9ve5gPB
— Blockaid (@blockaid_) July 22, 2026 The security firm said it was working with the Arbitrum team to respond, contact the affected protocol and help contain the stolen funds. Based on the public updates reviewed at publication time, no recovery had been confirmed.
AFX had also not published a verified technical postmortem explaining how the attacker gained authorization to withdraw the funds. The protocol had not announced a recovery plan.
Offchain Labs co-founder Steven Goldfeder confirmed that the suspicious transaction came from a third-party protocol. He also separated the AFX incident from Arbitrum’s own bridge infrastructure.
“We’re aware of a report of a bridge hack on Arbitrum and are investigating. We can confirm that the transaction in question originated from a third-party protocol, and the Arbitrum native bridge has not been hacked or exploited in any way,” Goldfeder said.
He added that the team would coordinate with the third-party protocol and share more details when available.
AFX uses Arbitrum as a route for USDC deposits while running its trading system on a dedicated Layer 1. AFX describes itself as a decentralized derivatives platform built around a sovereign execution environment. A recent protocol post also said users could deposit USDC from Arbitrum before accessing its perpetual markets.
Exploiter converts stolen USDC into ETH PeckShield said the attacker moved the stolen USDC from Arbitrum to Ethereum and converted the proceeds into 12,467.5 ETH. Lookonchain separately reported that the exploiter bought about 12,467 ETH at an average price near $1,937 per ETH after moving the funds.
The conversion moved the stolen value from a U.S. dollar-pegged stablecoin into Ether, exposing the holdings to ETH price movements. Security teams continued tracing the funds after the swap. At publication time, the reviewed sources did not confirm that Circle had frozen the USDC before conversion or that any of the ETH had been recovered.
The attack adds to several bridge-related security incidents this year. As crypto.news previously reported, Stake DAO closed its vsdCRV bridge after an unauthorized mint on Arbitrum in May. The project said it secured the token’s mainnet backing and contained the incident to the affected bridge.
Earlier in April, a larger exploit hit Kelp DAO’s LayerZero-powered bridge. Attackers drained roughly 116,500 rsETH worth about $292 million. Arbitrum later froze more than 30,000 ETH linked to that attacker after the funds moved onto Arbitrum One.
Investigation focuses on AFX-operated infrastructure The investigation now centers on the AFX-operated bridge and the authorization process behind the 24.15 million USDC withdrawal. The confirmed transaction shows that the bridge contract finalized the transfer, but public statements do not yet establish the verified root cause. A full postmortem may determine whether the incident involved compromised validator credentials, faulty access controls or another weakness.
The main confirmed point is that the exploit affected infrastructure operated by AFX rather than Arbitrum’s native bridge. Blockaid and Offchain Labs both made that separation clear in their initial responses. The Arbitrum network continued operating, and reviewed reports showed no loss from its native bridge.
The incident also places attention on AFX’s deposit infrastructure. The protocol has promoted USDC deposits from Arbitrum as an entry route into its trading platform. Any changes to deposits, withdrawals or bridge operations will depend on the protocol’s response and the ongoing investigation.
The case remains developing. The confirmed loss stands at about $24.15 million in USDC, while on-chain trackers have traced the stolen value into roughly 12,467 ETH on Ethereum. Further updates are expected from AFX, Blockaid and the Arbitrum team as they review the breach and track the attacker’s funds.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
