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José Mourinho is back at Real Madrid. The win marks the beginning of Mourinho’s second stint at the club, a reunion that has dominated football headlines since the appointment was announced in mid-2026.
The return of the Special One Mourinho’s first tenure at Real Madrid, spanning 2010 to 2013, delivered La Liga, Copa del Rey, and Spanish Super Cup titles.
This time around, the club is easing him back in with a pre-season schedule that includes a closed-door friendly against Leganés on July 28 at the Valdebebas training ground, followed by a public match against Fiorentina in Klagenfurt, Austria on August 1.
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The appointment represents Real Madrid’s first major managerial change following the 2026 World Cup.
Where are the fan tokens? No fan tokens were launched in connection with the appointment. No blockchain partnerships were announced. No Web3 activations were teased.
The $JUDE token disaster $JUDE is an unauthorized Solana-based meme token loosely inspired by Real Madrid midfielder Jude Bellingham. It has no official connection to Bellingham, no affiliation with Real Madrid, and no utility beyond speculation.
When news of Mourinho’s return broke, $JUDE didn’t rally on the excitement. It collapsed. The token dropped approximately 98% in value amid the announcement.
In English: if you put $1,000 into $JUDE, you’d be looking at roughly $20 left.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Arival Bank announced the launch of stablecoin payment and treasury capabilities on July 3, 2026, with services expected to go live by mid-July. The offering supports USDC for all eligible clients and USDT for non-US entities, with conversion fees starting at just 0.05% for businesses moving into USD-denominated stablecoins.
What Arival is actually building Arival Bank operates as a recognized International Financial Entity under Puerto Rico’s regulatory framework, with full BSA/AML compliance, KYC/KYB protocols, and transaction monitoring systems.
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The platform supports transactions across four blockchain networks: Base, Polygon, Solana, and Ethereum. The target market is global SMEs, startups, and digital-native businesses that need treasury management and cross-border payment tools.
Why Latin America is the real story here Arival’s announcement specifically calls out demand from international clients, with Latin America as a key focus. A USDC transfer on Solana settles in seconds, not days. At 0.05% conversion fees, Arival is undercutting what most traditional FX services charge by a wide margin.
The bank’s approach builds on its existing partnership with Circle Alliance, the program Circle runs to expand USDC adoption through financial institutions. By integrating stablecoin capabilities with existing USD and multi-currency accounts, Arival is creating something that looks less like a crypto product and more like an upgraded version of the banking tools businesses already use.
The competitive landscape The fee structure deserves attention. At 0.05% for stablecoin conversions, for a business processing $1 million in monthly cross-border payments, that’s $500 in conversion fees versus potentially thousands through traditional banking channels.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Swiss cantonal lender BancaStato has expanded its product range by introducing regulated cryptocurrency trading for its customers, powered by digital asset specialist Sygnum and core banking technology provider Avaloq.
The collaboration allows account holders to purchase, retain, and dispose of Bitcoin, Ethereum, Litecoin, and Solana without leaving the bank’s familiar digital channels.
Banca dello Stato del Cantone Ticino, established in 1915 to support the economy of southern Switzerland’s Italian-speaking region, has linked Sygnum’s application programming interface to its Avaloq software-as-a-service platform.
As a result, clients can now place market orders—specified either by the number of coins or by US-dollar amount—directly inside the existing web and mobile banking applications.
Transactions flow through Sygnum’s business-to-business infrastructure, eliminating the need for a separate order-management system.
This streamlined architecture lowers operational costs and complexity while giving the bank greater flexibility to adjust features according to its risk-management policies.
Digital assets acquired by BancaStato customers are held in Sygnum’s multi-layered institutional custody arrangement.
The solution combines hardware and software safeguards, rigorous internal governance, and independent external audits.
Importantly, the assets remain off the bank’s own balance sheet, offering an extra layer of protection should the institution face insolvency.
The Ticino-based lender becomes the first institution running Avaloq’s SaaS environment to offer crypto trading via a direct Sygnum API connection.
It joins a growing roster of more than twenty-five banks and financial firms already using Sygnum’s B2B platform, including other Swiss cantonal institutions.
Sygnum estimates that its partner network already enables roughly one-third of the Swiss population to access digital assets through trusted traditional banks.
Executives from the three organizations highlighted the strategic value of the integration.
Fritz Jost, Sygnum’s Chief B2B Officer, described the partnership as evidence of rising demand for regulated, API-based digital-asset services that plug straight into established core banking systems.
Dr Curzio De Gottardi, BancaStato’s Head of Products and Services and Vice-Chairman of the Executive Board, emphasized that the seamless combination of conventional investments with digital assets strengthens the bank’s future-oriented offering.
Christian Haux, Avaloq’s Managing Director for Switzerland and Liechtenstein, noted that the project demonstrates how tight technical integration helps banks respond quickly to changing client expectations while keeping all services on a single platform.
The launch arrives shortly after Sygnum Europe obtained a Crypto-Asset Service Provider license under the European Union’s Markets in Crypto-Assets Regulation from Liechtenstein’s Financial Market Authority.
That authorization positions Sygnum to support banks across the EU with similar infrastructure, reducing time-to-market and regulatory burden.
By embedding cryptocurrency trading inside everyday banking applications, BancaStato provides its customers with a convenient, regulated gateway to digital assets while maintaining the security and compliance standards expected of a Swiss cantonal bank.
Solana's SOL token dropped on July 24 as crypto investors became more risk averse.
getty
Solana prices fell on Friday, July 24, pushing lower as the broader crypto markets suffered declines amid a souring in risk sentiment.
SOL, the native digital asset of the Solana network, dropped to $73.53, according to Coinbase data from TradingView.
At this point, it was down 3.8% after rising to as much as $76.40 earlier in the day, additional Coinbase data from TradingView reveals.
These price movements materialized during a day when most of the top 10 digital assets by total market value suffered declines, according to CoinMarketCap figures.
When explaining this latest weakness, analysts repeatedly emphasized investor sentiment, noting that their tolerance for risk has suffered as of late.
The Clarity ActAs for what, exactly, caused this shift, market observers pointed to several variables, including concerns about the Clarity Act, which would provide greater clarity for the crypto sector by outlining the jurisdiction held by varying regulatory bodies.
“The broader crypto market is under pressure as the perceived odds of a successful Clarity Act diminish,” Jeff Anderson, managing partner at STS Digital, stated via email. “USD yields continue to push higher and the continuation of geopolitical conflicts are not helping risk appetite either,” he added.
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Brett Sifling, wealth manager for Gerber Kawasaki Wealth & Investment Management, also weighed in. Regarding the Clarity Act, he agreed that it has been having an impact on crypto markets, elaborating through emailed commentary that “It’s been hung up on ethics disclosure fights, a stablecoin yield battle with the banks, and major concerns from the DOJ.”
“A lot of investors are thinking that if it doesn’t get to the floor before the August recess, it’s effectively dead until after the midterms,” he added. “That window is closing right now.”
The market observer elaborated on other variables that are impacting the mindset of investors, stating that “The war in Iran continues to rage on, oil is over $100 again, and treasury yields are at 18mo higher. That’s a recipe that kills the appetite for risk assets, so it’s not surprising that crypto is struggling.”
“We also have a Fed meeting next week and Coinbase’s earnings report, so it’s common to see traders de-risk ahead of catalysts like that,” he added.
A ‘Microstructure Event’Eric Swartz, founding general partner of institutional crypto investment fund Panther Hollow Ventures, took a different view, describing today’s price movement as a “microstructure event.”
“We view today’s decline as a microstructure event rather than a fundamental one,” he stated through emailed input. “The latest declines appear to have been driven by a broader reduction in crypto risk rather than any meaningful Solana-specific news.”
“Higher real yields and a stronger dollar prompted a broader reduction in crypto risk, while crowded long positioning amplified the downside through futures liquidations,” said Swartz.
“SOL remains one of the highest-beta large-cap crypto assets, so these types of macro-driven positioning resets tend to produce outsized intraday volatility relative to the broader market.”
Solana's SOL token dropped on July 24 as crypto investors became more risk averse.
getty
Solana prices fell on Friday, July 24, pushing lower as the broader crypto markets suffered declines amid a souring in risk sentiment.
SOL, the native digital asset of the Solana network, dropped to $73.53, according to Coinbase data from TradingView.
At this point, it was down 3.8% after rising to as much as $76.40 earlier in the day, additional Coinbase data from TradingView reveals.
These price movements materialized during a day when most of the top 10 digital assets by total market value suffered declines, according to CoinMarketCap figures.
When explaining this latest weakness, analysts repeatedly emphasized investor sentiment, noting that their tolerance for risk has suffered as of late.
The Clarity ActAs for what, exactly, caused this shift, market observers pointed to several variables, including concerns about the Clarity Act, which would provide greater clarity for the crypto sector by outlining the jurisdiction held by varying regulatory bodies.
“The broader crypto market is under pressure as the perceived odds of a successful Clarity Act diminish,” Jeff Anderson, managing partner at STS Digital, stated via email. “USD yields continue to push higher and the continuation of geopolitical conflicts are not helping risk appetite either,” he added.
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Brett Sifling, wealth manager for Gerber Kawasaki Wealth & Investment Management, also weighed in. Regarding the Clarity Act, he agreed that it has been having an impact on crypto markets, elaborating through emailed commentary that “It’s been hung up on ethics disclosure fights, a stablecoin yield battle with the banks, and major concerns from the DOJ.”
“A lot of investors are thinking that if it doesn’t get to the floor before the August recess, it’s effectively dead until after the midterms,” he added. “That window is closing right now.”
The market observer elaborated on other variables that are impacting the mindset of investors, stating that “The war in Iran continues to rage on, oil is over $100 again, and treasury yields are at 18mo higher. That’s a recipe that kills the appetite for risk assets, so it’s not surprising that crypto is struggling.”
“We also have a Fed meeting next week and Coinbase’s earnings report, so it’s common to see traders de-risk ahead of catalysts like that,” he added.
A ‘Microstructure Event’Eric Swartz, founding general partner of institutional crypto investment fund Panther Hollow Ventures, took a different view, describing today’s price movement as a “microstructure event.”
“We view today’s decline as a microstructure event rather than a fundamental one,” he stated through emailed input. “The latest declines appear to have been driven by a broader reduction in crypto risk rather than any meaningful Solana-specific news.”
“Higher real yields and a stronger dollar prompted a broader reduction in crypto risk, while crowded long positioning amplified the downside through futures liquidations,” said Swartz.
“SOL remains one of the highest-beta large-cap crypto assets, so these types of macro-driven positioning resets tend to produce outsized intraday volatility relative to the broader market.”
Buying stocks used to require opening a brokerage account, verifying your identity, linking a bank account, and navigating a trading interface. Now someone decided all of that should happen in a tweet.
OSbroker went live on the Solana blockchain, introducing what it calls the first tweet-based stock trading platform. Users can mention the @osbroker account on X with a command like “buy me $10 worth of stocks,” and the platform automatically executes tokenized equity trades directly from the user’s wallet. The whole thing runs on Solana’s Actions/Blinks technology, which enables on-chain transactions triggered from social media interactions.
How tweet-to-trade actually works The mechanics are deceptively simple. A user posts on X, tags @osbroker, and includes a trade instruction. The platform reads the command, creates a wallet for the user if one doesn’t already exist, and executes the purchase of tokenized stocks on-chain.
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Rather than letting users pick individual tickers (at least initially), OSbroker bundles trades through what it calls “stock packs.” These diversified baskets spread exposure across prominent equities including AAPL, NVDA, TSLA, GOOGL, and SPY.
Solana’s Actions and Blinks framework has previously been used for token swaps and staking directly from social media posts. OSbroker is the first to stretch that infrastructure into equity markets.
The platform also launched an associated token, $BROKER, with contract address 4R8nPamDM3Vk8V6ivpnq2gmvho7ueVpMGU9noXRqpump.
Solana’s quiet dominance in tokenized stocks Solana currently accounts for roughly 95% of global trading volume in tokenized equities. Weekly trading volumes have recently hit approximately $1.29 billion. The low transaction costs and sub-second finality make it practical for the kind of micro-trades that OSbroker is enabling, where someone might buy $10 of stocks through a social media post.
The social-native finance thesis OSbroker collapses social discussion and trade execution into a single action. The social post IS the trade. Automatic wallet creation means users don’t even need to understand crypto wallets or Solana’s architecture. They tweet, and stocks appear in a wallet they didn’t know they had.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The Solana spot margin protocol now offers leverage and lending across 700+ live markets, spanning long-tail assets, tokenized stocks, and real-world assets. Every position is spot leverage on the real asset, not a synthetic future.
Lavarage, the spot margin protocol for any token on Solana, now runs across 700+ live markets and closes two gaps that perpetual futures cannot reach: brand-new tokens before any futures market exists, and tokenized real-world assets where ownership matters. The through-line: leverage what matters, own what you trade.
The update targets a widening gap in on-chain markets: the assets people want to trade are growing fast at both ends, Solana now mints tens of thousands of new tokens a day and processes more than 95% of all tokenized-equity trading, while leverage has stayed locked to a handful of liquid markets.
Gap one: new assets, before a futures market exists
Solana empowers seamless assets creation on-chain: from serious project tokens all the way to meme tokens — as many as 47,619 minted in a single day (June 2026, per CryptoRank). The biggest moves and opportunities come before any futures market forms. Lavarage can spin up a spot leverage market for a new asset immediately, using liquidity already on-chain, so traders can act while it matters.
Gap two: assets where ownership matters
The second gap is capital efficiency for assets worth owning, not just betting on — tokenized real-world assets that carry long-term ownership benefits. Tokenized stocks on Solana crossed $4.9 billion in volume in H1 2026 (Crypto Briefing), roughly six times the prior half-year. For these, spot leverage beats a perpetual: you get leverage on the asset while still owning the real token. So any ownership benefits stay with you, instead of holding a synthetic derivative of it.
Benefits for traders
Spot leverage, not synthetic futures. Every position is opened with the actual asset, which the trader has the option to own. Any token on Solana. 700+ tokens have live margin markets today, the majority of which have no perpetual futures market yet. Best-offer matching. Traders are automatically matched to the loan offer with the most favourable terms, and loans are continuous with much more stable funding cost. Isolated positions. Isolation means no platform-wise auto-deleveraging. Benefits for lenders
Lenders earn real yield as interest paid by traders who borrow to open long or short positions, yield generated directly by spot-leverage borrow demand, on any asset they lend. Every loan is over-collateralized and isolated. Lenders can participate actively, creating offers and setting their own terms, or passively, by staking into existing lending vaults, which have recently paid roughly 30% APY on SOL and roughly 14% on USDC as of July 2026, variable with utilization.
Founder comment
“Perpetual futures are great for a handful of highly liquid assets. But for a new token, the moment that matters most comes before any futures market exists. For real-world assets, owning the thing you trade is the whole point,” said Tgen, co-founder of Lavarage. “Those are the two gaps we close with spot leverage. Leverage what matters, own what you trade.”
Lavarage by the numbers (July 2026)
$200M+ in cumulative volume 10,000+ unique traders 80,000+ positions opened 5,000+ tokens traded with leverage $1M+ in fees paid out to integration partners Live on Solana mainnet since 2024 Margin trade any token on Solana → v2.lavarage.xyz
About Lavarage
Lavarage is a spot margin protocol on Solana that lets traders take leverage on any token — from day-one launches to tokenized real-world assets — while holding the real asset, not a synthetic derivative. Lenders supply the liquidity, actively by setting their own terms or passively by staking into vaults, and earn interest from borrow demand. Lavarage has processed $200M+ in volume across 700+ live markets and has been live on Solana mainnet since early 2024, built on audited code (Code4rena and Sec3). Learn more at lavarage.xyz.
Tokenized equities referenced are issued by third parties via Backpack Securities and Sunrise on Solana; per-token disclaimers apply on the live product, and backing and redeemability are the issuer’s claim — do your own research. Not available to US persons. Not financial advice. Leverage trading carries risk of loss, including liquidation.
BloFin Wallet has reached a significant milestone in its evolution, introducing Perpetual Contract Trading and the BloFin Wallet Visa Card, two updates that push the wallet well beyond what most crypto wallets are built to do.
From Holding to Trading: Perpetual Contracts Now Live BloFin Wallet users can now trade perpetual contracts directly from their wallet, with access to 100+ tokens spanning both cryptocurrency and tradfi assets. Instead of moving funds to a separate exchange, users can trade within the same wallet they already use for swaps, onramp, and earn.
The update also introduces a referral program tied to perpetual trading. Users can share their invite link and earn fee rebates based on their referrals’ trading activity, creating a direct connection between community growth and personal reward.
The Next Era of Finance BloFin Wallet has also launched the BloFin Wallet Card, a Visa card that lets users spend their digital assets wherever Visa is accepted. The card supports Apple Pay and Google Pay, carries zero issuance and annual fees, and imposes no lock-up period on funds. Users hold their assets until the moment of purchase.
The next phase of digital finance will not be defined by another standalone wallet, exchange, payment card, or yield product. It will be defined by how seamlessly these functions work together. Users increasingly expect to trade, hold, earn, and spend from a single financial environment, without repeatedly moving funds between platforms, waiting through settlement delays, or sacrificing control of their assets. BloFin Wallet is helping pioneer this all-in-one experience. Its ambition extends beyond asset storage: it is building a unified gateway where digital assets can move naturally between investment, trading, yield generation, and everyday spending. By reducing the friction between these activities, BloFin Wallet aims to make crypto capital as accessible and useful as money in a traditional account, while preserving the speed and flexibility of digital markets
The BloFin Wallet Card is a key part of that vision. Alongside the card, BloFin Wallet offers an Earn product with unlimited 6%+ APY, enabling users to put idle assets to work while keeping them accessible. Together, Card and Earn create a more efficient capital loop: assets can remain productive when not being spent, stay available when opportunities arise, and be used directly for real-world payments when needed. This reflects a broader shift in the market. Crypto users are moving beyond speculation alone and increasingly looking for practical financial utility. At the same time, fragmented experiences, one platform for trading, another for custody, another for yield, and another for payments, are becoming less acceptable. The platforms positioned to lead the next cycle will be those that combine deep liquidity, capital efficiency, payment access, and intuitive asset management within one connected experience.
BloFin Wallet’s long-term opportunity is to become a financial operating system for the digital-asset economy: one place where users can enter the market, manage risk, grow their assets, and use their wealth in everyday life. The future of finance will not ask users to choose between trading and spending, or between earning and accessibility. It will bring all of these experiences together, and make the transitions between them nearly invisible.
Trade Smarter, Hold Safer Taken together, these updates say something about where BloFin Wallet is headed. Where most wallets stop at storage and swaps, BloFin Wallet now covers the full arc from on-chain trading to real-world spending, with earning opportunities built in throughout. The BloFin Wallet app is available on the Google Play Store and the Apple App Store.
About BloFin Wallet BloFin Wallet is an on-chain wallet designed to support secure, self-custodied management of digital assets across multiple blockchain networks. The wallet allows users to store, manage, and interact with their crypto assets while maintaining full ownership and control. BloFin Wallet supports multi-chain asset management, primarily across major EVM and Solana networks, and provides access to on-chain applications and services. It is also integrated with the BloFin ecosystem, enabling users to connect their wallet assets with BloFin’s broader financial services. With a focus on security, usability, and interoperability, BloFin Wallet serves as a practical entry point for users engaging with the ecosystem. For more information, please visit wallet.blofin.com.
Morgan Stanley has gained approval to list and trade its Ethereum and Solana ETFs on NYSE Arca as the issuer submitted 8-A and other filings with the US SEC. The Wall Street giant could soon launch its spot Ethereum and Solana ETFs.
Morgan Stanley Ethereum ETF Gains Approval According to the latest SEC filing, Morgan Stanley has gained approval to list shares of its spot Ethereum ETF from NYSE Arca. The ETF will list and trade on NYSE Arca under the ticker symbol MSSE.
Morgan Stanley has also filed 424B3, with no details on the fee waiver. The filing has become auto-effective pursuant to Section 12(b) of the Exchange Act, pending CERT filing for details on the trading date.
As CoinGape earlier reported, Morgan Stanley updated delegated sponsor, Coinbase Prime, Coinbase custodial and trade finance agreements. The latest amendment indicates the Morgan Stanley Ethereum ETF could become effective soon.
The spot Ethereum ETF will levy a sponsor fee of 0.14%. Also, it plans to stake 50-80% of holdings via providers such as Figment, Galaxy Blockchain, and Coinbase Canada. Notably, staking services providers and custodians are to receive only 5% of the staking rewards.
Morgan Stanley Investment Management, the delegated sponsor, said it will not receive or retain the remaining staking rewards, resulting in higher earnings for investors.
Moreover, The Bank of New York Mellon and Coinbase Custody will serve as custodians for the Morgan Stanley Ethereum ETF.
NYSE Arca Approves Wall Street Giant’s Solana ETF Listing Morgan Stanley also filed 8-A and 424B3 with the US SEC for its spot Solana ETF. NYSE Arca has also approved Morgan Stanley Solana ETF to list and trade under the ticker MSOL.
Notably, the approval comes as $10 trillion Morgan Stanley’s brokerage firm E*TRADE completed the rollout of spot Bitcoin, Ethereum, and Solana trading. Clients can buy, sell, and hold crypto in a linked Zerohash account.
Morgan Stanley Solana ETF will have a 0.14% management fee. Also, the issuer plans to stake up to 100% of SOL holdings through Figment, Galaxy Blockchain, and Coinbase Canada.
The staking rewards distribution mechanism for staking service providers, custodians, and investors is the same as in the Morgan Stanley Ethereum ETF. Cash custodians, crypto custodians, administrator, transfer agent, and marketing agent are similar to those of its Morgan Stanley Bitcoin ETF.
The MSBT holds over $391 million in total assets, with BTC holdings worth over $396 million. MSBT saw $5 million in inflows in the latest session, while spot Bitcoin ETFs recorded $255.18 million in outflows.
While Morgan Stanley plans to capture passive yields internally for its ETF, retail investors looking for direct control over their assets can explore the best crypto staking platforms to earn competitive APYs on their Ethereum and Solana holdings.
@Byreal_io, an AI-native decentralized exchange built on Solana and incubated by Bybit, has crossed the $4 billion mark in total trading volume, marking a significant milestone for one of the most distinctly positioned DEX platforms in the current DeFi cycle.
From Bybit's Incubator to a Billion-Dollar Venue Byreal is a decentralized exchange built on the Solana blockchain and incubated by Bybit, the world's second-largest cryptocurrency exchange. The platform crossed $1 billion in cumulative trading volume just 10 weeks after its mainnet launch in early October 2025. The latest $4 billion figure represents a substantial acceleration from that early pace.
Byreal marked its first anniversary since launching on the Solana testnet on 30 June 2025, and over the past year has grown into a primary liquidity venue for tokenized real-world assets (RWA) and established itself as one of the first AI agent-native exchanges in DeFi. Through deep integration with Bybit Alpha, Byreal became the top Day 1 trading volume venue on Solana for multiple new tokens, including BP, MON, ARX, SKR, and BRIB, bridging centralized exchange liquidity with on-chain markets from launch day.
AI Agents as Full-Fledged On-Chain Traders Byreal brings together trading, liquidity provision, and yield generation into one unified on-chain platform, built from the ground up as an AI agent-native DEX that enables both human users and AI agents to trade, swap, and provide liquidity programmatically on Solana. This architecture is central to the platform's growth story. Rather than treating AI participation as an add-on, Byreal has made autonomous agent trading a core design principle.
Byreal uses a dual-execution engine that routes trades through both on-chain concentrated liquidity pools (CLMM) and an off-chain Request-for-Quote (RFQ) system, dynamically selecting the best execution path for tighter spreads, lower slippage, and MEV protection. Sub-200ms latency, powered by high-performance RPC infrastructure, supports institutional-grade execution speed. Solana's sub-second finality makes it a natural fit for the kind of high-frequency, multi-agent activity the platform is designed to support.
Over the past year, Byreal has expanded its product suite across three verticals on a single platform: Real Farmer, the first copy-farming product on Solana; Perps, offering up to 50x leverage trading for both equities and crypto; and Predict, an on-chain market for trading real-world outcomes.
In April 2026, Byreal announced the launch of Byreal Perps Agent Skills, extending its agent-native trading infrastructure to perpetual futures. Users can now trade perps through natural language commands via RealClaw, with no manual order entry, no separate interfaces, and no bridging required.
Sources:
Byreal First Anniversary: Chainwire
Byreal Official Documentation
Byreal Perps Agent Skills Launch: PR Newswire
Circle has minted an additional 250 million USDC on the Solana blockchain, increasing the total issuance on the network to approximately $72.01 billion. This marks the fourth such mint in two days, indicating significant activity within the Solana ecosystem. The cumulative issuance figure reflects the total amount minted, not the circulating supply on the network. The recent minting activity suggests an uptick in liquidity and usage of Solana, which might influence market dynamics and investor sentiment.
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The market’s response to this development appears mixed. In the prediction market for Solana reaching $90 by August 1, 2026, the odds remain low, with a 2% YES probability. This suggests that while the increased USDC issuance could indicate higher network activity, it has not yet translated into strong confidence in a substantial price rise for Solana in the short term. Market participants continue to weigh the potential impact of increased liquidity against broader market conditions and regulatory environment.
Key Takeaways Recent USDC minting activity appears consistent with increased liquidity on Solana, potentially impacting network activity. Market pricing suggests limited confidence in a near-term price surge for Solana, with low odds of reaching $90 by August 1. The aggregate issuance of USDC on Solana does not equate to circulating supply, indicating complex underlying market dynamics. What to Watch Observers should monitor whether continued USDC issuance on Solana leads to significant shifts in network activity or market sentiment. Key indicators include any changes in the prediction market’s pricing for Solana’s price targets and broader adoption of USDC on Solana for transactions. Additionally, developments in regulatory policies and technological upgrades on Solana may further influence market perceptions and pricing.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 2.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.9% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.4% — — View market → August 1 2026 1.4% — — View market → August 1 2026 0.3% — — View market → August 1 2026 1.9% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.6% — — View market → August 1 2026 0.1% — — View market → August 1 2026 28% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market →
@Circle has minted another $250 million $USDC on the @Solana blockchain, marking its fourth major issuance event within a 48-hour window. The move pushed the total circulating supply of USDC to a record $72.01 billion, underscoring relentless institutional demand for on-chain dollar liquidity.
Rapid Minting Reflects Rising On-Chain Demand The speed of the minting cycle is notable. Four large issuances in under two days signals that Circle is responding in near real-time to demand from market makers, trading venues, and DeFi protocols operating on Solana. Traders use USDC as collateral, as a settlement asset, and as a quick way to move between volatile positions without leaving the chain. When more USDC is minted onto Solana, it usually points to demand for on-chain dollar liquidity, which can come from market makers, DeFi protocols, retail traders, or institutions routing activity through Solana-based venues.
Large stablecoin mints typically provide fresh liquidity that can be deployed across decentralized exchanges, lending protocols, automated market makers, and yield-generating applications. As newly minted USDC enters circulation, DeFi platforms can absorb the additional capital to facilitate larger trading volumes and improve market efficiency.
USDC Cements Its Role as a Core Settlement Layer The pace of issuance sits within a broader trend of USDC dominance in 2026. Adjusted stablecoin transaction volume hit a record $1.79 trillion in June 2026, with Circle's USDC capturing 67% of activity at $1.21 trillion. That momentum has been driven in part by regulatory clarity in the United States and growing institutional use of USDC for payments and settlement.
USDC supply surged 220% since late 2023 to approximately $78 billion, driven by institutional B2B settlement, payroll infrastructure, and programmatic payment rails built by Visa and Stripe. The repeated minting cycles on Solana reflect that growth and reinforce the stablecoin's position as a primary collateral layer for on-chain finance.
Blockchain analysts note that gross issuance does not represent the network's live circulating supply, since USDC can later be redeemed, burned, or bridged to other blockchains. Even so, the frequency and scale of Circle's recent mints point to sustained, real demand rather than a one-off capital event.
Sources:
Crypto Briefing: Circle's USDC drives record stablecoin transaction volume in June 2026
CoinTrust: Circle Mints $250M USDC on Solana as 2026 Supply Nears $65B
CoinMarketCap Academy: $315B Stablecoin Supply Hits Record as USDC Gains
Solana continues to trade below major resistance levels, with analysts highlighting persistent risk for a renewed decline. The current rebound in SOL is viewed by several market observers as corrective, rather than the start of a sustained uptrend. If resistance holds, Solana could revisit previous support levels and potentially approach $60 in the coming sessions.
Solana tests resistance, $60 target remains in focusSolana is currently navigating a critical resistance area between $77.50 and $83. Analyst Molchanov Andrey, who tracks market structure and price action, warned that sellers could become more active within this zone. According to Andrey, a failure to clear these resistance levels may keep Solana vulnerable to a drop toward the $62.22 to $60.03 range.
Solana must establish support above $83 to confirm further upside, while repeated rejections in this area continue to signal weakness and the potential for another move down to the $60 region.
The six-hour price chart shows Solana consolidating above an ascending trendline after a recovery from its June lows. However, attempts to break above the current resistance have so far fallen short, indicating that buyers have not yet secured a crucial breakout.
A temporary rally above $83 could lift SOL toward $87.90, as the market targets liquidity above recent highs. However, without sustained buying and support above this level, analysts believe any advance may remain short-lived. In the event of another rejection, Fibonacci support near $73.89 and $71.55 could become critical. Falling below that range may open the way for losses toward $68.28 and the broader $60 zone.
Should Solana manage to break above $87.90 and establish that area as support, attention would likely shift to the next resistance at $94.26. For now, the asset remains at a pivotal junction, with resistance continuing to restrict any significant recovery. A drop below the rising trendline could serve as confirmation that a new corrective phase is underway.
Recovery stalls as Solana remains in broader downtrendBroader technical patterns suggest that Solana’s latest rally may not signal the start of a true reversal. According to MCO Global, the coin’s strength could be limited to a short-term bounce. The analytical firm explained that as long as SOL trades below $98.50, the risk of renewed decline persists and the market structure remains bearish.
While a push to the $98.50 resistance is possible, Solana faces considerable selling interest at every major level below that threshold, making a sustained breakout challenging without further bullish conviction.
Immediate resistance is located at $82.26, $89.41, and $93.99. A clear break above these thresholds could accelerate recovery efforts toward the major $98.50 level. Conversely, if Solana loses support at $64.30, the late June swing low, this would likely confirm that the correction is resuming. Downside objectives in that scenario include $48.80 and $43.22.
Price LevelTypePotential Outcome$77.50–$83Immediate resistanceRejection could fuel drop to $60$83Breakout triggerTemporary upside to $87.90 possible$89.41, $93.99Additional resistanceClearing boosts chance at $98.50$64.30Key supportBreak opens path to deeper losses$48.80, $43.22Downside targetsBears may push SOL lower if trend continuesShould the price make a sustained move above $98.50 and use it as a new support, bearish pressures could ease, prompting a reassessment of market direction. Otherwise, analysts argue that the coin remains at risk of further losses, especially if the $64.30 threshold fails to hold.
Solana, a high-performance blockchain platform designed for decentralized applications and crypto projects, continues to face uncertainty as traders monitor key support and resistance zones for short-term direction.
Mini dictionary: MCO Global, a digital assets analysis firm, specializes in providing technical and on-chain insights for cryptocurrency traders and institutional investors.
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.
Duan Yongping has sold SpaceX put options with a strike price of $92.
Renowned investor Duan Yongping stated yesterday in response to a community user's question that he has started selling put options on SpaceX. This is his typical "potential acquisition" strategy. According to the live trading records of the SpaceX put options Duan shared, his quoted price was around 23.20, with actual execution at 23.26 (1,000 contracts), earning him a premium of approximately $2.32 million. Calculated over a 5-month term, the yield is roughly 25.35%, with an annualized return of about 60%. He noted, "I want to support Elon Musk's dream."
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Home / Price Analysis / Crypto Market Brief July 24: $280M Liquidations, BTC ETF Outflows, $1.4B Options Expiry and a Bankruptcy Filing
4 hrs ago
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.
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Highlights
The crypto market is down today as bearish headwinds dominate. The drop comes amid BTC ETF outflows and surging long liquidations. Bitcoin mining pool Poolin Technologies has filed for Chapter 11 bankruptcy in the US. Crypto prices are down today, July 24, as outflows to Bitcoin (BTC) ETFs, rising odds of a Fed rate hike, and another bankruptcy filing caused $280 million in market liquidations.
Top Crypto Market Movers Solana is the biggest loser among the top ten largest cryptos by market cap with a 2.83% drop, followed closely by XRP with a 2.5% decline. Crypto Market Prices (Source: CoinMarketCap) SOL price is falling despite the SEC granting Morgan Stanley approval to launch a SOL ETF on the NYSE Arca under the ticker “MSOL.” The total meme coin market cap is down by 7.24% to $%22 billion, with Dogecoin (DOGE) dropping by 3.45% despite returning inflows to DOGE ETFs. CASHCAT defies the bearish market sentiment, with a 19% gain to trade at $0.05. $1.43 billion on Bitcoin and Ethereum options expire today, July 24, per Deribit data. Biggest News of the Day Poolin Technology, which was once the largest Bitcoin mining pool, has submitted a Chapter 11 bankruptcy filing in the US The filing shows liabilities between $100 million and $500 million and estimates creditors to be between 10,001 and 25,000 The filing comes a day after one of the biggest derivatives exchanges, BitMEX, announced shutting down on September 30. Crypto Market Data Total Market Cap: $2.21 trillion (-1.17%) 24-Hour Trading Volumes: $61.74 billion Bitcoin: $64,988 (-0.95%) Ethereum: $1,880 (-2.36%) Bitcoin Dominance: $58.9% Ethereum Dominance: 10.3% Total Liquidations: $282 million ($192 million in long liquidations and $90 million in short liquidations) Fear and Greed Index: 28 What to Watch in the Crypto Market Today Bitcoin ETFs saw their first outflows in seven days on July 23 despite the price remaining above $64,000 BTC ETF outflows topped $225 million despite Ethereum posting $26 million inflows Bitcoin ETF Flows (Source: SoSoValue) Traders should watch today’s ETF inflow/outflow data to assess whether institutional demand is weakening amid bearish macro pressures An increase in ETF outflows could push the crypto market lower due to increasing sell-side pressure Catch up on yesterday’s biggest moves in our Crypto Market Brief for July 23.
Investment disclaimer: The content reflects the author's personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Frequently Asked Questions (FAQs)
1. Why is the crypto market down today?
The crypto market is down today as returning ETF outflows, retail selling pressure and geopolitical tensions weigh on prices.
2. What are the top movers in the crypto market today?
The top movers in the crypto market today are Solana, XRP, Dogecoin and CASHCAT.
3. What is the biggest news in the crypto market today?
The biggest news in the crypto market today is the Chaper 11 bankruptcy filing by Poolin Technologies.
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About Author
About Author
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.
Duan Yongping has sold SpaceX put options with a strike price of $92.
Renowned investor Duan Yongping stated yesterday in response to a community user's question that he has started selling put options on SpaceX. This is his typical "potential acquisition" strategy. According to the live trading records of the SpaceX put options Duan shared, his quoted price was around 23.20, with actual execution at 23.26 (1,000 contracts), earning him a premium of approximately $2.32 million. Calculated over a 5-month term, the yield is roughly 25.35%, with an annualized return of about 60%. He noted, "I want to support Elon Musk's dream."
6 minutes ago
The United States and the United Kingdom plan to discuss forming an international alliance to protect maritime shipping in the Strait of Hormuz.
According to AXIOS: European diplomats say the U.S. and the U.K. are discussing holding a high-level meeting in London next week, with the meeting focusing on a potential plan to establish an international coalition to protect maritime shipping in the Strait of Hormuz.
6 minutes ago
A prominent trader says Bitcoin’s cycle is accelerating, and firmly believes this cycle will still hit a new high before the halving.
Renowned trader Killa (@KillaXBT) stated in a post that Bitcoin’s cycle is accelerating. The previous cycle took just 476 days to rise from its bottom to a new all-time high (ATH), far faster than the two prior cycles. He forecasts this cycle will also hit a new high ahead of the next halving. Killa, a BTC-focused quantitative trader, accurately predicted the peak of the current bull market in May 2025 and boasts over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688 before switching to long positions during the broad market sell-off on June 5.
6 minutes ago
Qualcomm notifies its customers it can no longer absorb price hikes, and will raise prices by double-digit percentages.
Bloomberg cited a letter reporting that Qualcomm has informed its clients it can no longer absorb price hikes and will implement double-digit percentage price increases. Following the news, BIT (bit.com) market data shows Qualcomm’s decline narrowed, while Nvidia climbed 1.2% to hit a new daily high.
6 minutes ago
OpenAI CEO: Hopes the U.S. wins in the open-source AI sector, and is "pleased to see" Jensen Huang's remarks.
OpenAI CEO Sam Altman said he hopes the U.S. will lead in both open-source AI and proprietary AI models, adding that he "welcomes" the statement Nvidia’s CEO made on social media regarding the open letter jointly issued by over 20 U.S. tech companies.
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.
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.
Raydium, one of the top 10 most influential DeFi protocols according to Fortune, debuted Permissioned AMMs yesterday, July 23. Permissioned AMMs introduce a new framework that enables issuers of KYC-gated and regulated assets to launch directly on Raydium, accessing Solana’s deepest liquidity while maintaining compliant secondary markets. Superstate became the first partner to integrate the infrastructure, bringing tokenized equities into Raydium’s liquidity ecosystem.
The launch marks another step in the race to build infrastructure for regulated assets on public blockchains. As tokenized stocks, funds, and real-world assets gain attention, protocols are adapting traditional DeFi tools to meet compliance requirements.
Raydium Adds Compliance Controls to AMM Trading Traditional AMMs allow anyone with a wallet to provide liquidity or trade assets. That model works well for crypto-native tokens but creates challenges for regulated assets that require investor verification and transfer restrictions.
Raydium’s Permissioned AMMs add an access-control layer to its existing liquidity infrastructure. Instead of allowing any wallet to interact with a pool, the system verifies whether a wallet meets issuer-defined eligibility requirements before allowing trades.
The framework combines 3 core components:
Issuer-managed KYC, where asset issuers determine which participants qualify.
Programmatic enforcement, where smart contracts restrict pool interactions to approved wallets.
Immutable smart contracts, which provide transparent and verifiable execution.
Eligible investors can trade only with verified counterparties, while issuers maintain control over participant access.
Superstate Brings Tokenized Equities to Raydium Superstate became the first service partner to integrate Raydium’s Permissioned AMMs. The company operates Opening Bell, a platform designed to issue publicly registered tokenized equities directly on blockchains.
Unlike synthetic products that track stock prices without representing direct ownership, Superstate focuses on natively tokenized securities where the token represents the underlying security.
Superstate has developed infrastructure that tracks ownership changes across DeFi environments, including automated market makers and lending protocols. The company has also worked with protocols such as Uniswap, Orca, Aave, Morpho, and Kamino to support regulated asset activity onchain.
Through Raydium’s integration, approved investors can trade tokenized equities through Permissioned AMMs while Superstate manages ownership records and compliance requirements.
Raydium Joins a Broader Shift Toward Permissioned DeFi Raydium is not the only major DEX moving toward compliance-focused infrastructure.
On May 27, Orca launched permissioned pools on Solana in partnership with gold tokenization firm Streamex. Orca’s system uses Solana token extensions to enforce transfer restrictions and connect investor eligibility with onchain activity.
Uniswap Labs also announced Permissioned Pools yesterday, July 23. The feature introduces a hook standard for Uniswap v4 that allows pools to verify approved wallets directly through smart contracts rather than relying on frontend restrictions or offchain checks.
These launches highlight a broader industry trend: regulated assets require more than a place to trade. Issuers need infrastructure that combines blockchain transparency with controls required by securities markets.
Tokenized Assets Target a Trillion-Dollar Market The push toward compliant onchain markets comes as interest in tokenization continues to grow. In its Big Ideas 2026 report, Ark Invest estimated that the global market for tokenized assets could grow from $19 billion to $11 trillion by 2030, representing around 1.38% of all financial assets.
Solana has also seen rapid growth in its real-world asset ecosystem. The network recently became the blockchain with the highest number of RWA holders, reaching 311,000 holders, $3.5 billion in RWA value, and more than 2,500 types of tokenized assets.
Read More on SolanaFloor Mubadala Capital to Launch $75M Tokenized Fund on Solana via Kaio
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Mubadala Capital has launched tokenized access to an evergreen private market strategy through UAE-based infrastructure provider KAIO.
Summary
Mubadala Capital’s tokenized private markets strategy attracted about $75 million across Solana, Base and Sui. Coinbase will add undisclosed fund exposure to its balance sheet, moving beyond infrastructure support alone. KAIO limits access to qualified investors while handling regulated issuance, administration and multichain fund distribution. The offering is available on Base, Solana and Sui and has attracted about $75 million from traditional and digital-asset investors.
Coinbase will take an undisclosed position in the product and place the exposure on its balance sheet. The exchange is acting as an investor rather than only a network or service provider. Access remains limited to qualified institutional and accredited investors.
Mubadala private markets strategy moves onchain The product is tied to the Mubadala Capital Alternative Solutions Fund, an evergreen strategy with exposure to private equity, direct investments and credit. KAIO handles the tokenized structure, investor access and onchain administration across the three networks.
Mubadala Capital is the alternative asset management subsidiary of Abu Dhabi’s Mubadala Investment Company. Its official website says the platform manages, advises and administers more than $600 billion through its businesses and partnerships. Its alternative investment operations report about $60 billion in assets under management.
The launch follows an official partnership announced in December 2025. Mubadala Capital and KAIO said they would explore regulated digital access to private market investments for eligible investors. They said the structure would retain governance, regulatory controls and investment oversight.
Max Franzetti, head of Mubadala Capital Solutions, said, “Bringing it onchain extends that access to a new class of qualified investors.” The companies did not disclose minimum investments, fees, redemption terms or the number of participating investors.
Coinbase adds the fund to its balance sheet Coinbase’s role goes beyond providing Base as one settlement network. The company said it would add exposure to the tokenized offering to its balance sheet. It did not disclose the value, timing or accounting treatment.
Brett Tejpaul, head of Coinbase Institutional, linked the purchase to growing use of regulated tokenized assets. The transaction gives Coinbase economic exposure to a sovereign-backed private markets product while it continues building services for onchain funds.
Coinbase Asset Management launched the CUSHY tokenized credit strategy in April. That product targets public digital credit, private asset-backed lending and tokenization-related returns across Ethereum, Solana and Base. The Mubadala position adds a separate private markets asset to Coinbase’s holdings.
Coinbase’s involvement does not make the product available to retail users. The fund keeps the eligibility requirements attached to private investments. Transfers must follow KAIO’s compliance controls and rules set by the fund and its regulated providers.
KAIO distributes the product across three networks KAIO provides infrastructure for regulated issuance and management of tokenized funds. Its platform documentation says the system supports compliance and lifecycle management while allowing tokenized assets to move across public networks. Deployment on Base, Solana and Sui gives approved investors several network options.
Tokenization can shorten administrative steps and provide faster ownership updates. It may also allow approved fund interests to interact with digital custody, collateral and settlement systems. However, a blockchain token does not remove lockups, valuation limits or transfer rules tied to private assets.
KAIO previously supported onchain products linked to BlackRock, Brevan Howard, Hamilton Lane and Nomura’s Laser Digital. As previously reported, Tether led an $8 million KAIO funding round in April, bringing total funding to $19 million.
The firm later launched its KAIO governance token and foundation. Crypto.news reported that KAIO had about $100 million in tokenized fund value then. The Mubadala launch adds a sovereign-backed manager and about $75 million in announced commitments.
Solana tokenization activity continues to grow Solana promoted the launch as the arrival of Mubadala Capital’s Alternative Solutions Fund on its network. Base and Sui also host the structure, so it is not exclusive to Solana. KAIO has not published how the $75 million is divided across the chains.
Institutional fund launches on Solana have increased during 2026.State Street and Galaxy launched the SWEEP tokenized cash management fund on Solana in May. Securitize later brought an AAA-rated collateralized loan obligation fund to the network, with Ethena planning a $250 million allocation.
The Mubadala product differs from tokenized Treasury and cash funds because it gives eligible investors exposure to an evergreen private markets strategy. Private assets usually have longer holding periods and less frequent pricing than cash-equivalent products.
The companies have not announced retail access or open secondary trading. They also have not said whether the tokens can serve as collateral in outside applications. The launch provides regulated, multichain access to qualified investors while Coinbase tests the product as a corporate balance-sheet asset at this early stage.
Bitcoin hovered near the $65,000 mark on Friday as escalating Middle East tensions weighed on sentiment in the cryptocurrency market, while Ethereum also traded lower.
Bitcoin was trading at $65,345, while Ethereum was at $1,877.
Over the past 24 hours, Bitcoin declined 0.43% and Ethereum fell 2.23%. Among major altcoins, BNB, XRP, Solana, Hyperliquid, Dogecoin and Cardano dropped by as much as 4.09%, while Tron edged up 0.05%.
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Nischal Shetty, founder of WazirX, said that Bitcoin remained under pressure as geopolitical tensions in the Middle East dampened investor sentiment, prompting a shift toward safer assets. Ethereum also weakened, with traders closely monitoring institutional positioning and broader market uncertainty.
“Bitcoin's daily technical indicators remain neutral, with immediate support around $64,200–$64,500, while Futures traders are watching whether BTC can sustain a move back toward $66,000. For Ethereum traders, $1,840–$1,860 remains the key support zone, while $1,900 is the next major resistance,” Shetty further said.
The global crypto market capitalisation went down 0.7% to $2.22 trillion, according to CoinMarketCap.
Akshat Siddhant, Lead quant analyst, Mudrex said fresh attacks in the Middle East have pushed crude oil above $90 a barrel, while driving US bond yields to their highest levels in 18 months, weighing on risk assets.
Despite the weakness in price, US spot Bitcoin ETFs extended their inflow streak to seven consecutive sessions, attracting nearly $1 billion in total, Siddhant further said.
In the past week, Bitcoin and Ethereum were up 2.98% and 1.58% respectively. Among the major altcoins, BNB, Hyperliquid, and Dogecoin corrected upto 4.17% whereas XRP, Solana, Tron, and Cardano gained upto 4.47%.
Crypto markets are also facing pressure from tighter financial conditions. Bitcoin remains relatively stronger than Ethereum and major altcoins, with its four-hour structure constructive above $65,000, said Riya Sehgal, Research Analyst, Delta Exchange.
Here is what other analyst say
Vikram Subburaj, CEO, Giottus: Institutional demand has improved materially. US spot Bitcoin ETFs recorded approximately $999.3 million in inflows across seven consecutive positive sessions from July 14 to July 22. These inflows more than offset the $424.7 million outflow recorded on July 13. July 23 showed a preliminary $22.6 million outflow, although BlackRock’s IBIT figure remained unavailable.
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Avinash Shekhar, Co-Founder & CEO, Pi42: The latest correction across the crypto market reflects how quickly global geopolitical developments can influence investor sentiment across asset classes. Bitcoin’s pullback towards the mid $64,000 range, alongside weakness in Ethereum and other leading digital assets, comes amid heightened uncertainty following the escalation in the Iran conflict and a broader shift away from high-growth assets.
CoinSwitch Markets Desk: The July recovery could lose momentum if BTC fails to reclaim $65K, with the 21-day moving average near $64K acting as key support and $68K as the next major resistance. Investors may prefer disciplined positioning, limited leverage and gradual accumulation near support rather than chasing short-term rebounds.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
After its spectacular launch rally, Cash Cat is still losing ground; the token is currently trading at $0.046. The daily chart clearly shows that sellers are now in charge, as speculative buying pressure has virtually completely vanished. CASHCAT did not establish any significant consolidation after its initial surge toward the $0.20 region. Instead, a textbook downtrend has been created as each attempt at recovery has resulted in a lower high.
This structure is reinforced by the most recent candle sequence, which shows that buyers were unable to withstand even the brief recovery toward $0.08. The chart's lack of accumulation following the collapse is among its most alarming features. Violent sell-offs of strong meme assets are frequently followed by protracted sideways trading as new buyers enter the market.
CASHCAT/USDT Chart by TradingViewCASHCAT does not yet exhibit that behavior. Rather, the price keeps printing lower lows while daily volatility progressively decreases, indicating a decline in the activity of both buyers and sellers. Momentum indicators are still not very good. The token is kept below the neutral 50 level by the RSI, which is currently at 41.
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Although this reading is no longer oversold, it also shows no signs of a resurgence of bullish momentum. Every bounce runs the risk of turning into another brief relief rally rather than the start of a long-term reversal until the RSI rises back above 50.
Currently, the main resistance zone is located between $0.06 and $0.08. Before it broke sharply, that area served as short-term support, so if the price rises, sellers are probably waiting there to sell their positions. The first technical indication that bears are starting to lose control would be reclaiming that range. The present lows around $0.045 are becoming more significant on the downside.
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A clear breakdown below them would expose CASHCAT to yet another wave of price discovery lower, since the token would have no historical support. Even though long upper wicks occasionally indicate speculative buying attempts, the structure as a whole is still bearish.
Although buyers frequently fail to sustain higher prices by the daily close, those spikes show that liquidity is still present. It seems likely that CASHCAT will continue to face pressure unless meme coin sentiment across the market significantly improves. Before any discussion of a wider trend reversal is technically warranted, bulls must set a higher low and recover the $0.06–$0.08 zone.
Solana's stabilization effort After months of weakness, Solana is trying to stabilize, trading at about $76 and progressively forming a string of higher lows. Heavy resistance overhead continues to limit the broader trend, despite the chart's notable improvement since June's steep decline toward the low-$60 area.
The relationship between price and the shorter moving averages is the most promising development. Both the 26-day and 50-day exponential moving averages have been successfully recovered by SOL, and they are now serving as dynamic support. The price has been consolidating above those levels for a number of sessions, suggesting that buyers are protecting recent gains rather than taking quick profits. The wider picture is still difficult, though.
SOL/USDT Chart by TradingViewThe 100-day EMA is currently close to $80 and has consistently rejected attempts to rise throughout July. The 200-day EMA at $93 is still sloping downward even higher, highlighting the fact that the longer-term trend has not yet returned to bullish territory. Solana might benefit from the current $76 consolidation.
The price is moving sideways while allowing moving averages to compress below, rather than extending vertically into resistance. If buying volume eventually reappears, this frequently lays the groundwork for a more forceful breakout attempt. The RSI is consistent with that interpretation. The indicator is close to 51, which is nearly neutral. This implies that momentum has bounced back from negative conditions without overheating. Before momentum enters overbought territory, bulls still have room to move higher.
The area between $80 and $84, where the declining 100-day EMA intersects with earlier horizontal resistance, continues to be the center of immediate resistance. Reaching the $90 area, which is psychologically significant, would probably lead to a resurgence of optimism. The shorter moving averages are currently converging at $73–$74, where support has strengthened.
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The recent recovery would be weakened if that area were lost, and SOL might return to the mid-$60 range. During the most recent consolidation, volume has progressively decreased, which is quite common following a recovery rally. Before anticipating a clear breakout, traders will probably wait for a discernible rise in buying activity. Compared to earlier this summer, Solana's technical picture has significantly improved overall.
The asset has developed a positive base and is no longer in freefall. However, the recovery should be seen as an improving consolidation rather than the start of a confirmed long-term uptrend until SOL firmly breaks through the $80–$84 resistance zone.
XRP's difficult periodXRP has already encountered difficulties in its most recent breakout attempt. Sellers swiftly intervened and drove the asset back below the breakout level after it momentarily pushed above the upper boundary of its ascending triangle. The rejection implies that buyers are still not convinced enough to buck the general downward trend. Right now, XRP is trading at about $1.13, which is nearly exactly where several short-term moving averages converge.
XRP/USDT Chart by TradingViewThe 50-day and 100-day moving averages are still higher at $1.16-$1.24, forming a dense supply zone, while the 26-day EMA is serving as immediate resistance. Upside is probably going to be restricted until XRP clears that cluster. Following the unsuccessful breakout, the daily RSI has fallen back below the neutral 50 level, indicating waning momentum.
An indication that bulls are having trouble attracting new capital is the volume, which has remained comparatively muted. The rising trendline that supported the most recent consolidation is still the crucial level to watch on the downside.
With psychological support at $1.00 becoming more crucial, a decisive daily close below it might invalidate the entire recovery structure and expose XRP to another move toward the $1.05 area. On the other hand, recovering $1.16 would boost confidence and restore access to the 50-day moving average.
Dogecoin's key weaknessDogecoin still appears to be substantially weaker than the majority of large-cap cryptocurrencies. The meme coin is trading close to $0.070, just above recent local lows, and it is still well below all of the daily chart's major moving averages. There is not much room for optimism in the technical structure.
The 50-day, 100-day, and 26-day moving averages are all trending above the price, indicating that sellers are still in charge across all significant time periods. In contrast to XRP, DOGE has been grinding sideways following a protracted decline rather than establishing any convincing higher-low pattern.
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The same weakness can be seen in momentum indicators. The RSI is below 40, a sign of bearish momentum that has not yet reached extremely oversold levels. If selling pressure picks up speed, that allows for an additional leg lower.
Additionally, compared to the peaks observed during earlier rallies, volume has significantly decreased, indicating that speculative interest has essentially vanished. In the absence of new demand, recovery efforts are likely to be sold into. Recovering the 26-day EMA at $0.075 is the first obstacle for buyers.
Stronger resistance emerges above that, close to the 50-day moving average at $0.078. If the current range is not maintained, DOGE may move toward the psychological $0.065 level, which would represent yet another major decline in its long-term structure. DOGE currently has one of the weakest-looking charts among major cryptocurrencies.
Following an early surge, Cash Cat has continued its downward trajectory, currently trading at $0.046. The daily price chart indicates persistent selling, with buyers retreating and speculative demand all but disappearing. The token failed to establish any meaningful base after its initial rally toward $0.20, instead forming a clear downtrend as every rebound produced a lower high.
Cash Cat struggles to find supportRecent trading sessions show that even minor recovery efforts, such as a move toward $0.08, met immediate resistance, and buyers were unable to sustain upward momentum. Unlike many meme tokens, where intense sell-offs are usually followed by a period of sideways movement as new buyers accumulate, CASHCAT continues to record lower lows. Daily fluctuations are narrowing, and both buying and selling activity appears to be fading.
Technical indicators provide little optimism. The relative strength index (RSI) remains below the neutral 50 mark, sitting at 41. While this is not an oversold level, it also does not point to any budding bullish momentum. For sustained recovery, the RSI would need to rise above 50 and see prices reclaim the resistance zone between $0.06 and $0.08.
Every rally attempt so far has failed to break resistance, and unless the price overcomes the $0.06–$0.08 area, sellers are likely to stay in control.
If Cash Cat slips below the current local support near $0.045, it could trigger a new drop, as there is no clear historical support at lower levels. Occasional speculative spikes show that liquidity is present, but buyers often cannot hold gains into the close. Until market sentiment surrounding meme coins shifts, sellers are expected to retain control.
Solana’s gradual recovery stalls at moving averagesSolana has attempted to stabilize after several months of weakness, consolidating around $76 and shaping a series of higher lows. Although the downtrend that started with June’s decline toward $60 has given way to some price stability, stiff resistance remains overhead.
The most notable development is Solana’s recovery of its 26-day and 50-day exponential moving averages, which now provide dynamic support. Price has lingered above these levels, indicating that recent gains are being defended. However, more significant resistance at the 100-day EMA—currently around $80—has repeatedly capped upward movement, while the longer-term 200-day EMA at $93 continues to slope downward, highlighting an unconfirmed long-term reversal.
The sideways price action gives moving averages time to converge and may support a breakout attempt if buying returns in force. Solana’s RSI stands at 51, signaling that momentum has rebounded from lows but is not yet overbought. This leaves some room for further upside should bullish sentiment return.
Moving AverageCurrent LevelStatus26-day EMA$74Support50-day EMA$74Support100-day EMA$80Resistance200-day EMA$93Downtrend ResistanceNear-term resistance is concentrated between $80 and $84, coinciding with the declining 100-day EMA and previous price ceilings. A break above this region could open the door to $90, a critical psychological level. Meanwhile, support has formed at $73–$74, where the shorter moving averages are converging; losing this area could put $60s back in play. Volume has decreased during the recent consolidation, typical after a rebound. Solana’s structure is stronger than in early summer, but a confirmed uptrend hinges on overcoming the $80–$84 zone.
XRP attempts breakout, faces seller pressureXRP’s bullish momentum faltered quickly after briefly breaching the upper edge of its ascending triangle pattern. Sellers pushed the price back below breakout levels, indicating that buyers remain hesitant. At the moment, XRP trades near $1.13, close to a cluster of short-term moving averages.
The 26-day EMA acts as immediate resistance, with the denser 50-day and 100-day moving averages at $1.16 to $1.24 creating a challenging supply zone above. The daily RSI has also slipped below the neutral midpoint as positive momentum fades.
Failure to solidly regain $1.16 would likely keep XRP rangebound or send it lower, while a close below $1.00 could nullify the current recovery and expose the asset to further declines.
Muted trading volume suggests that fresh capital inflows are lacking, while the asset’s structure depends on the rising trendline that has provided support in recent weeks. Should XRP fall below this, and lose hold of the psychologically sensitive $1.00 mark, further downside becomes a risk.
Dogecoin remains under pressureDogecoin continues to lag behind other major cryptocurrencies, trading near $0.070 and sitting below all major daily moving averages. The technical landscape offers little cause for optimism, as the 50-day, 100-day, and 26-day moving averages remain above price and reinforce ongoing selling dominance.
Unlike XRP, which at least attempted a breakout, DOGE has failed to establish higher lows and mostly moved sideways following a sustained decline. Momentum indicators like the RSI remain below 40, pointing to persistent bearishness that has not yet reached a capitulation point. Trading volumes have also collapsed compared to previous rallies, evidence that speculative interest has waned.
The first target for buyers is reclaiming the 26-day EMA at $0.075, followed by the 50-day MA at $0.078. If DOGE cannot maintain its current range, it risks sliding toward the psychological $0.065 level, deepening its longer-term downtrend. For now, Dogecoin shows one of the weakest setups among leading cryptocurrencies.
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.
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Ethereum has further consolidated its lead in decentralized finance, with its share of total cryptocurrency total value locked (TVL) rising to 54.39% during the past month. The increase, up from 53% one month prior, represents a gain of more than one percentage point despite persistent competition from other blockchain protocols, according to data from DefiLlama shared by staking provider Everstake.
Ethereum’s TVL Growth and Market ImpactTVL, a key metric for measuring participation in blockchain-based financial applications, tracks the value of assets deposited within smart contracts across various DeFi platforms. The most recent change means billions of dollars in digital assets have moved into Ethereum-based protocols, underscoring the platform’s ongoing appeal in lending, decentralized exchanges, and staking services.
Everstake highlighted, “When one network now secures 54.39% of the entire crypto TVL, it’s a reminder of just how significant Ethereum’s position has become.” The staking provider attributed this continued supremacy to years of progressive ecosystem expansion, ongoing protocol upgrades, and robust developer activity that have attracted new applications and liquidity to Ethereum.
Everstake commented that Ethereum’s steady growth in TVL points to the network’s years of expansion, upgrades, and adoption by both developers and users, reinforcing its vital role within DeFi.
Rival Blockchains Maintain Diverse DeFi EcosystemWhile Ethereum’s dominance remains substantial, alternative public blockchain networks continue to hold considerable TVL market shares. According to DefiLlama, Solana currently controls 6.49% of the total, with Tron and BNB Smart Chain each holding 6.30%. Base, a rising layer-2 solution backed by Coinbase, accounts for 6.03%, while Bitcoin-based DeFi stands at 5.61% of TVL.
These figures reflect a diversified landscape, as Solana accelerates adoption through user-focused applications, and Base leverages synergies with Coinbase’s broader ecosystem. Tron, meanwhile, has established a niche in stablecoin transfers, particularly for USDT. Each network addresses unique market segments, signaling that capital allocation is spread across multiple platforms based on their respective strengths and user bases.
BlockchainTVL Share (%)Ethereum54.39Solana6.49Tron6.30BNB Smart Chain6.30Base6.03Bitcoin5.61Technical Upgrades Drive Ethereum AdoptionEthereum’s high TVL levels have been strengthened by a constant flow of technical improvements and a strong developer community. Flagship DeFi protocols, such as Aave, Maker, Uniswap, and Lido, anchor substantial liquidity on Ethereum, bolstering overall network TVL and activity.
Continuous upgrades aimed at boosting scalability and reducing transaction fees, especially via Layer-2 networks, have made Ethereum more attractive for institutional investors and retail participants alike. This broader appeal supports the deployment of additional decentralized applications, all while maintaining Ethereum’s well-regarded security profile.
Mini dictionary: Layer-2 networks, often referred to as L2s, are secondary frameworks built atop Layer-1 blockchains like Ethereum. These solutions process transactions off the main chain and submit bundled results to the base layer, effectively reducing congestion and lowering fees without compromising security.
For market participants, rising total value locked is commonly viewed as an indicator of growing trust in a blockchain’s DeFi ecosystem. However, analysts recommend evaluating TVL alongside other factors such as user activity, transaction volume, protocol revenues, and fee generation before forming conclusions about overall network health.
ETH’s Role as Primary DeFi Settlement LayerEthereum’s expanding share of TVL reflects its pivotal position as the main settlement and liquidity hub for DeFi applications. Higher TVL levels generally result in increased liquidity, enabling broader lending markets and more efficient decentralized trading for users and institutions.
This development is particularly relevant as institutional interest in Ethereum has accelerated since the approval of spot ETH exchange-traded funds (ETFs) in the United States. While ETF inflows do not directly count toward DeFi TVL, greater mainstream exposure to ETH has further boosted awareness and interest across its diverse ecosystem.
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.
Key Highlights Solana has gained 12% over the last month, currently hovering near $77 ETF capital flows reached a two-week peak, with BSOL receiving $5.83M Inactive wallet activity on Solana decentralized exchanges jumped 400% week-over-week Critical resistance level established at $78; surpassing $97.89 may trigger a rally toward $120–$130 Technical indicators show a bullish MA crossover, indicating accumulating buy-side momentum Solana has posted impressive gains of 12% during the last 30-day period, securing its position as the strongest performer among the top five cryptocurrencies by market capitalization. Currently, SOL is exchanging hands around the $77 mark, accompanied by daily trading activity totaling $1.61 billion.
Solana (SOL) Price Daily transaction volumes have experienced a modest decline from $2.2 billion down to $1.7 billion following a four-day consecutive upward price movement. The cryptocurrency market seems to be consolidating after its recent advance.
Capital flows into Solana-focused exchange-traded funds shifted into positive territory this week, with approximately $7.2 million entering SOL-based investment products. Leading the charge was the Bitwise Solana Staking ETF (BSOL), which attracted $5.83 million on July 21 — marking its strongest single-day performance in a fortnight.
Source: SoSoValue The subsequent trading session witnessed outflows totaling $1.27 million, representing approximately 25% of the previous day’s inflows. Monthly net inflows for July have reached nearly $12 million, a stark contrast to June’s $786,000 net exodus.
However, July’s momentum represents an 86% decrease compared to May, when Solana ETFs attracted $115 million while SOL was valued around $80.
Inactive Wallets Make Comeback Previously inactive wallet addresses returning to Solana’s decentralized exchange ecosystem reached 62,000 during the past week, climbing from under 20,000 in the preceding period. This represents a remarkable 400% surge and marks the highest returning participant count recorded in more than twelve months.
Source: Dune The stablecoin reserves on Solana’s network have also achieved a fresh record high of $17 billion, based on data from DeFi Llama. Meanwhile, application fee generation continues to languish at levels not seen in two years.
Digital asset analyst Michaël van de Poppe shared on X that SOL is “holding the range low” and forecasted it’s “just a matter of time” before the cryptocurrency accelerates toward the $120 threshold. Van de Poppe has identified the $75 zone as a crucial support foundation for SOL.
The path of $SOL remains the same.
It's holding the range low and, to me, it's just a matter of time until this starts to accelerate towards $120. pic.twitter.com/hv6rVMtkxl
— Michaël van de Poppe (@CryptoMichNL) July 21, 2026
Critical Price Thresholds Under Observation A significant moving average crossover has materialized, with the shorter-term MA climbing above its longer-term counterpart — a configuration that market participants monitor for potential trend reversals. The Relative Strength Index is also positioned above the midpoint, indicating strengthening buyer interest.
SOL must establish a close above the $97.89 level to transform its market structure from bearish to bullish. Trading beneath this threshold maintains the technically bearish pattern.
Should Solana successfully pierce through the $78 resistance barrier, market analysts are targeting the $90–$95 zone as the subsequent objective, where the 200-day exponential moving average is currently positioned. A sustained advance beyond $97 could propel prices into the $120–$130 territory.
The Crypto Fear and Greed Index currently registers at 39, hovering near Neutral sentiment. More than half of the analysts monitored by FedWatch anticipate a 25 basis point Federal Reserve rate increase by September, which may constrain upside potential for alternative cryptocurrencies in the immediate term.
Combined Solana and Hyperliquid ETF products represent nearly 80% of non-Bitcoin/Ethereum ETF trading volume, with aggregate Solana ETF assets under management nearing the $1 billion milestone.
LayerZero and Keeta have partnered to make tokenized commercial bank deposits transferable across Ethereum, Solana, Base and the Keeta Network.
Summary
Keeta stablecoins will represent commercial bank deposits and move across four networks through LayerZero infrastructure. Nine fiat currencies are scheduled to launch across supported public blockchains later during July 2026. Bivo will hold backing deposits while issuers retain control over contracts, transfers, and compliance requirements. The companies plan to launch the service later in July 2026, giving institutions a way to move bank-backed digital money across several public blockchains.
(1/8) Keeta has partnered with @LayerZero_Core to bring tokenized commercial bank money to major blockchains.
Together, we’re the first to combine regulated, compliance-native infrastructure with omnichain interoperability, enabling financial institutions to move bank-grade… pic.twitter.com/QKPJff0b7N
— Keeta (@KeetaNetwork) July 23, 2026 The system will use Keeta Stablecoins, which the companies describe as tokenized commercial bank money. Commercial bank deposits held through Bivo and its partner-bank network will back the tokens. The initial release will cover the U.S. dollar and eight other fiat currencies.
Keeta Stablecoins target multichain settlement According to the official LayerZero announcement, the first currencies will include USD, EUR, JPY, CNY, GBP, CAD, MXN, AED and HKD. The companies did not provide a specific launch date or name the institutions that will use the product at launch.
The product targets treasury, payment and settlement work. An institution could hold a token linked to a commercial bank deposit and transfer it between supported networks. Keeta CEO Ty Schenk said, “The future of institutional money isn’t a walled garden.” He said Keeta wants regulated bank money to move across chains rather than remain inside one closed system.
LayerZero supplies the cross-chain token standard Keeta Stablecoins will use LayerZero’s Omnichain Fungible Token Standard. LayerZero’s technical documentation says the OFT model lets one fungible token exist across several chains while maintaining one global supply. A transfer removes tokens from circulation on the source network and credits the same amount on the destination network.
The partnership says the issuing institution will retain contract authority across the supported networks. LayerZero also offers stablecoin controls such as transfer restrictions, rate limits, pause functions and separate operational roles. These controls allow an issuer to apply internal policies while keeping the token available on more than one blockchain.
Bivo provides the deposit and payment connection Bivo will provide access to U.S. payment rails and its partner-bank network. Keeta identifies Bivo as a licensed money transmitter with NMLS number 2572288. California’s Department of Financial Protection and Innovation also lists Bivo as a regulated money transmitter in the state.
The announcement does not state whether every token holder will receive deposit insurance or hold a direct claim against a named bank. It only says that commercial bank deposits held through Bivo will back the tokens. The companies also did not disclose reserve reporting rules, redemption fees, minimum transaction sizes or which entities will issue each currency.
The structure differs from many stablecoins that hold cash, Treasury bills or other reserve assets outside a customer deposit account. Keeta and LayerZero still use the term “stablecoins” for the product, but they describe the backing as commercial bank money rather than a mixed reserve portfolio.
Tokenized deposit projects gain wider attention Banks and crypto firms have tested several forms of tokenized deposits in 2026. JPMorgan and other large U.S. banks have worked on a shared network for tokenized deposits, with a possible 2027 launch. That project would operate through a bank-led system rather than distribute deposits across several public chains.
In another model, Custodia Bank and Vantage Bank tested a dual-purpose token that acts as a bank deposit inside their Hazel network and as a stablecoin when it moves outside the network. The Keeta and LayerZero plan instead focuses on issuing several fiat-linked assets across Ethereum, Solana, Base and Keeta from the start.
LayerZero already supports cross-chain distribution for payment and tokenized-asset products. As previously reported, PayPal expanded PYUSD to additional networks through LayerZero infrastructure. Ondo Finance also used LayerZero for cross-chain transfers of tokenized stocks and exchange-traded funds.
Cross-chain systems also carry technical and operational risks. In April, attackers drained about $292 million from Kelp DAO’s rsETH bridge after compromising infrastructure used by a LayerZero verifier. LayerZero said the attack affected Kelp DAO’s single-verifier setup rather than the core protocol. The company later stopped signing messages for applications using one-verifier configurations and urged projects to use several independent verifiers.
Keeta will also add LayerZero as an anchor inside its network. Keeta uses anchors to connect blockchains and traditional payment systems. The company says its network reached 11.2 million transactions per second during a public stress test conducted with Google’s Spanner engineering team, although that result does not represent normal production volume.
The companies have not disclosed launch partners, expected transaction volume or pricing. Their July rollout will test whether institutions want tokenized commercial bank money that can move across public chains while the issuer keeps control over transfers and compliance settings.
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.
Mubadala Capital, an Abu Dhabi-based Sovereign Wealth Fund managing a $385B portfolio, is bringing a tokenized private market strategy fund onchain.
Having already attracted $75M in commitments, the fund is expected to be deployed on Solana, SUI, and Base. Tokenization and issuance of the fund will be handled by KAIO, a USE-based operator.
While the bulk of existing RWA activity is dominated by US-based assets, recent developments suggest that issuers are expanding their offerings to embrace global markets.
Kaio Brings Mubadala Capital Fund to Solana In collaboration with KAIO, Mubadala Capital is bringing one of its private market strategies, the Alternative Solutions Fund (MCAS), onchain, deploying the tokenized fund on Solana, Base, and SUI.
According to KAIO, the fund has already amassed over $75M in commitments from both traditional and crypto-native backgrounds, with Coinbase reportedly adding an undisclosed investment in the fund to its balance sheet.
The fund marks Mubadala Capital’s first foray into the onchain economy, following in the footsteps of TradFi giants like BlackRock, Franklin Templeton, and Fidelity. According to Head Mubadala Capital Solutions Max Franzetti, deploying the fund onchain is expected to bring access and exposure to a much broader range of investors.
“This strategy was built on differentiated access — to deal flow, to co-investment, to a global network that most investors cannot reach on their own. Bringing it onchain extends that access to a new class of qualified investors without compromising the institutional discipline that defines how we invest.” - Max Franzetti, head of Mubadala Capital Solutions
Mubadaba’s MCAS becomes the fifth tokenized fund issued by KAIO, joining a range of similar products from TradFi heavyweights like BlackRock, Hamilton Lane, and Brevan Howard. At press time, KAIO’s self-reported TVL sits at over $143M, with MCAS representing the bulk of its AUM.
RWAs Go Global as xStocks Expands to APAC, UK Mudadaba’s MCAS launch comes as the onchain RWA economy begins to expand its geographic horizons. While the tokenized asset sector has enjoyed blistering growth in the past year, issuance has centered almost entirely around US-based assets. This is logical given the scope and scale of the U.S. equity market, but has so far left onchain traders sidelined in exotic and emerging markets.
However, recent revelations suggest the winds of change are blowing through Solana’s flourishing RWA sector. On July 22nd, Payward Inc, the parent company operating Kraken and its subsidiary RWA issuer, xStocks, announced its intention to begin tokenizing equities from a broader range of global markets, including Hong Kong, South Korea, the U.K. and Europe.
xStocks’ expansion outside U.S. markets is no doubt driven by surging demand for exposure to the memory and AI boom currently underway in Asian markets. Explosive and volatile dynamics in South Korean equity markets have attracted the attention of the world’s traders, who are now actively seeking to take advantage of inefficiencies in what analysts argue are over-leveraged and vulnerable positions.
Regardless of motive, the inclusion of non-US equity markets in the onchain economy is undoubtedly a step forward for Solana’s RWA economy. By definition, the promise of tokenization and internet capital markets is to provide access to global markets, enabling traders and investors to gain exposure to asset classes from all four corners of the financial world.
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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.
Solana [SOL] is slowly forming a bullish structure but remains below the most recent lower high at $97. At press time, the altcoin was trading at around $77, but SOL’s daily volume had surged to $1.61 billion.
Notably, a crypto analyst predicted that capital inflows and on-chain activity were starting to support SOL’s potential rise toward $120.
Solana ETFs turn positive as dormant wallets return Capital inflows came from Solana ETFs, which recorded the highest daily inflows in two weeks. The Bitwise Solana Staking ETF [BSOL] led the inflows with about 75,714 SOL worth $5.83 million, and it was the only ETF that recorded any activity on the 21st of July.
However, the positive net inflow did not last. The following day, Solana ETFs recorded outflows of 16.4K SOL worth $1.27 million, less than a quarter of the more than 75K BSOL purchased earlier.
Source: Solana Floor The daily volume of Solana ETFs traded was $54.47 million, with all assets under management nearing $1 billion. In fact, Solana and Hyperliquid ETFs account for nearly 80% of non-BTC/ETH ETF volume.
Additionally, dormant wallets returning to Solana DEXs surged to 62K last week, up from below 20K. This was equivalent to a 400% increase from the previous week. This was the highest number of returning users in a period of more than a year.
Source: Dune As Solana ETFs hit a two-week high and dormant wallets return, it hints at shifting market sentiment.
Can SOL break out and surge into the $120-$130 zone? The price charts showed Solana was forming a base at $75 after sweeping liquidity below this level. The altcoin has returned to the consolidation between $75 and $97, but the upper resistance remains a key challenge.
However, the signs of a potential breakout toward $120-$130 are emerging as a Moving Average (MA) cross occurred with the fast‑moving MA rising above the slower MA. Moreover, these targets depend on a bullish breakout in the coming weeks.
Source: SOL/USDT from Michael van de Poppe Therefore, Solana is expected to turn bullish structurally if it can close above $97.89. At press time, the RSI was supportive of the prediction as it traded above the neutral level, indicating buying pressure.
Otherwise, SOL is still bearish even though it reclaimed the most important level at $75.
Final Summary Solana ETFs’ inflows turned positive after $5.83 million was bought, and returning dormant wallets surged 400% in a week. Traders are eyeing SOL to reach the $120-$130 zone but only if it breaks out of the range and stays above $97.
Solana’s memecoin trenches are showing signs of renewed activity, with dormant traders returning, memecoin volumes climbing, and newly launched tokens attracting significant speculative interest.
The number of dormant wallets returning to Solana DEXs surged to 62,000 last week, an increase of more than 400% from the previous week. The figure marked the highest level of returning users in more than a year.
Memecoins also generated more than $2 billion in spot trading volume last week, accounting for roughly 19% of Solana’s total spot volume. Data from Blockworks shows Solana DEXs recorded approximately $10.6 billion in total spot volume, with memecoins contributing about $2.06 billion.
The renewed activity comes even as $SOL itself faces broader market pressure, suggesting traders are still willing to take on risk in specific corners of the ecosystem.
Pump.fun Overtakes Hyperliquid in Daily Revenue The resurgence has arguably benefited pump.fun the most. The Solana-based launchpad generated approximately $1.21 million in 24-hour revenue, surpassing Hyperliquid at roughly $1.03 million over the same period.
Pump.fun continues to attract fresh trading volume with each viral launch.
$JIMOTHY Hits $46.4M as Viral Raccoon Goes Viral One of the clearest examples of the renewed speculation is $JIMOTHY, a memecoin inspired by an unusually shaped raccoon that recently went viral online.
$JIMOTHY reached an all-time-high market cap of $46.4 million yesterday, July 22, before retreating. The token currently trades at around a $29 million market cap.
Jimothy, the raccoon behind the token, became an internet sensation after Kiana Hall spotted the animal in Seattle’s Ballard neighborhood on July 13. Experts believe the raccoon may have a rare congenital spine condition that gives it a distinctive short, round body, although it otherwise appears healthy.
Hall recorded the raccoon and posted the clip online, where it quickly attracted millions of views.
Anonymous developers capitalized on that viral attention by launching $JIMOTHY on Pump.fun last week. The token gained visibility through Pump.fun’s trending page before the platform’s official X account reposted it.
$KET and $ANSEM Highlight Broader Memecoin Rally $KET has also emerged as another notable mover in Solana’s renewed memecoin activity. The token climbed to an all-time-high market capitalization of approximately $15 million before retracing to around $8.39 million. Meanwhile, $ANSEM has sustained its traction since its launch “revived’ the trenches, with the token currently trading at a $169 million valuation. Although $ANSEM is a KOL-affiliated token, the return of animal-related memecoins suggests risk-taker trenchers/traders have returned to Solana.
The renewed activity reflects the role memecoins continue to play in driving Solana usage. Speaking to SolanaFloor at Breakpoint 2025, Solana Policy Institute President Kristen Smith argued that “Solana is the most used network in the world because of memecoins.”
Whether that activity develops into a sustained memecoin cycle will depend on whether returning traders remain active after the latest wave of viral launches fades.
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Mubadala Capital tokenizes a private markets fund with Coinbase and KAIO, launching across Base, Solana, and Sui with $75 million already onchain.
A major sovereign wealth fund just put a piece of its private investment business on a blockchain.
Mubadala Capital, the asset management arm of Abu Dhabi's Mubadala Investment Company, has launched a tokenized version of one of its private markets funds. The launch was built with Coinbase and Abu Dhabi-based tokenization firm KAIO. Mubadala's sovereign wealth fund grew 17% in 2025 to $385 billion, according to its own April 2026 results.
Mubadala Capital itself administers more than $600 billion across private equity, credit, venture capital, and co-investment, according to The National.
The fund went live July 23 across three blockchains at once: Coinbase's Base network, Solana, and Sui. It has already pulled in about $75 million onchain, including money from Coinbase itself.
The companies say it's the first time a major U.S. public company has used a regulated tokenized asset for its own onchain treasury management.
A bigger shift is already underwayMubadala's move fits a pattern that has been in motion. Citi's Institute for Global Perspectives and Solutions says tokenization is moving "from pilot stage toward operational deployment," in a June 2026 report.
The global market for tokenized financial assets sits at roughly $17 billion today, per DefiLlama data cited by Citi, about triple where it was a year ago. U.S. Treasuries, bonds, and money market funds make up more than 55% of that. Gold and other commodities make up another 34%. Citi expects the market to hit $5.5 trillion by 2030 in its base case, with a range of $2.7 trillion to $8.2 trillion.
Most of that growth is expected to come from public securities, not private funds like the one Mubadala just tokenized.
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Trending on TheStreet Roundtable:Bernie Sanders rallies against crypto, AI in new campaignJPMorgan sends stark warning on the real threat to BitcoinGoldman Sachs breaks with JPMorgan over 'Clarity'That's an important distinction. Private markets are harder to scale onchain. They're illiquid and relationship-driven by nature, and tokenizing them doesn't change that.
Citi estimates only about $100 billion each in tokenized private credit and private equity globally by 2030, small next to the trillions expected in Treasuries and public stocks.
Three things are driving the shift, per Citi: DTCC, NYSE, and Nasdaq building tokenization directly into their core systems; stablecoins and other regulated onchain money, projected to reach $1.9 trillion by 2030; and improving regulation, including progress on the US CLARITY Act.
Why Solana keeps showing upSolana, one of the three networks running Mubadala's fund, is built for speed and low fees. It processes far more transactions per second than older blockchains, at a fraction of the cost. That's made it a go-to choice for institutions testing tokenized assets, and the numbers back that up.
Solana's tokenized asset trading hit an all-time high of $5.8 billion in the second quarter, up 114% from the prior quarter, according to Blockworks Research. Tokenized equities alone made up $4.8 billion of that, more than four times the previous record. Solana now handles about 97% of all tokenized-equity trading across every blockchain.
That growth came even as speculative trading on the network, tied to meme coins, kept cooling off. Solana's overall network revenue actually fell 43% quarter over quarter. The tokenized asset growth looks like real institutional demand, not hype.
Mubadala running its fund on Solana, alongside Base and Sui, puts it in the same camp as a growing list of institutions using Solana as settlement infrastructure, not just a trading venue. Access to Mubadala's fund is limited to qualified institutional and accredited investors, keeping it within existing regulatory lines even as the infrastructure moves onchain.
Tokenized equities on the Solana blockchain have witnessed significant growth, rising from a volume of $1.34 million to $3.32 billion over the past year. This reflects Solana’s expanding role in the onchain activity around tokenized stocks and similar equity exposures. Recent data indicates that Solana handles over 95% of cross-chain tokenized equity volume, highlighting its dominance in this sector. The increase in activity points to a burgeoning adoption of tokenized equities, making them a substantial component of decentralized exchange activity within the Solana ecosystem.
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Key Takeaways Solana’s tokenized equities volume has surged, suggesting increased adoption and integration into decentralized finance. The dominance of Solana in handling cross-chain tokenized equity volume indicates its competitive positioning in the market. The rapid growth in tokenized equities could bolster confidence in Solana’s broader ecosystem and financial prospects. What to Watch Market participants may observe how Solana’s continued growth in tokenized equities impacts its platform’s adoption and overall blockchain activity. Developments such as regulatory announcements or partnerships could further influence Solana’s market position. Additionally, movements in Solana’s price may reflect the broader acceptance and success of its tokenized equities market, with potential for significant shifts in market sentiment.
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Contract Odds Δ since publish Volume 24h August 1 2026 3.7% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.3% — — View market → August 1 2026 1.5% — — View market → August 1 2026 0.4% — — View market → August 1 2026 3.6% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.7% — — View market → August 1 2026 0.1% — — View market → August 1 2026 27% — — View market → August 1 2026 0.1% — — View market → August 1 2026 0.1% — — View market →
The TRX price continues to hold one of the strongest long-term uptrends in the crypto market, and fresh network data suggests the fundamentals haven’t weakened yet. While many large-cap altcoins are still struggling to reclaim momentum, Loading profile preview is quietly expanding its dominance in stablecoin transfers and user activity, giving traders another reason to watch the chart closely.
Stablecoin Network Keeps Expanding FurtherToday’s update from TRON highlighted how dominant the network has become for stablecoin payments.
As of June 30, nearly 93% of stablecoin transfer volume on TRON came from peer-to-peer transactions, underscoring the network’s role as a payment infrastructure rather than just a speculative blockchain. Meanwhile, TRON’s share of native USDT transfers below $1,000 increased from 43% to 52%, showing growing usage for smaller everyday transactions.
That trend matters. More peer-to-peer activity generally reflects broader utility rather than isolated whale transfers, suggesting network demand continues to broaden.
User Growth Keeps Pace With SolanaOnchain data highlights TRX network activity telling a similar story. Per data, TRON reported an average of roughly 3.5 million daily active users, putting it well ahead of Ethereum’s 532,000 while remaining close to Solana’s 3.8 million users.
Although user count alone doesn’t determine value, maintaining activity at this scale indicates that TRON continues attracting consistent on-chain participation as competition among Layer-1 networks intensifies.
TRX Technical Structure Still Favors BuyersThe TRX price action also remains constructive. Since mid-2025, the CMF has stayed above the zero line, indicating persistent capital inflows while helping TRX defend the $0.2650 support zone. The rally eventually reached $0.3745 in May 2026, and the broader weekly trend remains intact.
Momentum indicators including the MACD and Awesome Oscillator also remain above their respective zero lines, while TRX continues trading comfortably above its 20-week EMA near $0.3265.
If buying momentum continues alongside improving network activity, TRX price could attempt a move toward $0.4265 before challenging the $0.45 area. However, losing the current trend structure would likely delay that scenario despite the improving ecosystem metrics.
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Looking at Solana’s key stats, the undervaluation narrative starts to gain more weight.
On the RWA front, Solana’s latest Q2 report showed $5.8 billion in Tokenized Asset Volume, up 114% QoQ and marking its sixth quarterly ATH.
The key takeaway?
Tokenized Equities alone accounted for 84% of total volume, making Solana a major hub for institutional RWA activity. But the momentum doesn’t stop there.
Source: X Digging deeper, Solana currently dominates tokenized stock trading, accounting for 96% of total volume, with xStocks driving over 80% of the activity. In this context, the latest xStocks expansion adds another layer to this growth story, moving beyond U.S. stocks to bring other global equities on-chain.
This broader access could further strengthen Solana’s position in the tokenized asset market.
Source: X In short, Solana’s [SOL] $5.8 billion Q2 RWA volume could be just the start of a bigger trend.
And it looks like investors are already positioning for this growth.
According to Dune data, dormant wallets returning to Solana DEXs jumped to 62k last week, up 400% week-over-week. This suggests that previously inactive users are coming back on-chain as new opportunities continue expanding across the ecosystem.
However, the bigger story behind Solana’s growth goes beyond its RWA market or DEX volume. The real impact is how this activity is translating into network adoption, with rising dormant activity being just one piece of the puzzle.
And the timing couldn’t be better, as SOL/ETH is approaching a key zone.
Solana’s on-chain strength meets a key SOL/ETH turning point The impact of Solana’s growing RWA and DEX momentum is now showing up across the network.
According to Chainspect data, Solana has generated more revenue than Ethereum for 23 consecutive days. With Solana bringing in around $515k compared to Ethereum’s $133k, the network generated roughly $382k more revenue, or nearly 3.9x Ethereum’s total.
And this isn’t just a short-term spike. Solana currently leads all blockchains in 24-hour DEX volume at $1.5 billion, ahead of Ethereum’s $1.29 billion.
Put together, Solana is showing a strong on-chain growth cycle, where rising DEX activity and RWA adoption are translating into higher network usage, liquidity, and revenue.
Source: TradingView (SOL/ETH) In this context, xStocks’ expansion adds another catalyst for Solana to continue building on this momentum.
From a technical perspective, the timing looks interesting.
As the chart above shows, the SOL/ETH ratio is approaching the 0.035-0.04 range, a zone that previously triggered a strong rally in May as capital rotated into Solana. With Solana’s on-chain strength improving against Ethereum and ETH facing resistance around the $2k level, the setup could favor further upside in the SOL/ETH ratio.
The key takeaway?
This rotation may be more than just a short-term technical move. With Solana’s on-chain growth continuing to accelerate, it could signal a broader divergence between SOL’s strength and ETH’s performance through the rest of Q3.
Tokenized equities deposited as collateral in Solana-based lending protocols have reached a new all-time high, crossing the $53 million mark.
The milestone signals a broader shift in how tokenized real-world assets are being used in decentralized finance. Instead of just sitting in wallets as synthetic exposure to stocks and ETFs, these tokens are now being put to work as collateral, letting holders borrow stablecoins like USDC without selling their positions.
Where the deposits are landing Two platforms are eating most of this market. Kamino Finance accounts for over $31 million of the total collateral, making it the dominant player by a wide margin. Jupiter Lend picks up approximately $20 million, rounding out the bulk of the activity.
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The lending mechanism itself works the way you’d expect. Users deposit tokenized versions of stocks or ETFs into these protocols, and in return, they can borrow stablecoins against that collateral.
Chainlink Data Streams provide sub-second pricing to keep the whole system from blowing up. The oracles use price band mechanisms to ensure that collateral valuations stay accurate around the clock, which matters quite a bit when you’re lending against assets that traditionally only trade during market hours.
Solana’s quiet monopoly on tokenized equity trading During Q2 2026, Solana captured roughly 96-97% of global on-chain tokenized equities spot trading volume. Total tokenized asset trading volume on Solana hit $5.8 billion for the quarter.
The broader real-world asset ecosystem on Solana has now surpassed $3.4 billion in total value. Platforms like Backed Finance have helped drive adoption by issuing compliant tokenized stock products, giving institutional and retail users a regulated on-ramp to put traditional equities on-chain.
Why borrowing against your stocks on-chain matters The $53 million figure represents genuine borrower demand for liquidity against equity holdings. Users want to maintain their stock exposure while still accessing capital. Selling would trigger taxable events or force them out of positions they believe in. Borrowing lets them have it both ways.
The risk side deserves attention too. Tokenized equities introduce dependencies that pure crypto collateral doesn’t: corporate actions, stock splits, dividend distributions, and regulatory changes in the underlying securities markets.
There’s also the oracle question. Sub-second pricing from Chainlink is impressive, but tokenized equities create an unusual challenge. Traditional stock markets close on weekends and holidays. If a geopolitical event moves equity prices over a weekend, the gap between Friday’s close and Monday’s open could create liquidation cascades in 24/7 lending markets before accurate prices are even available. The price band mechanisms are designed to handle this, but they haven’t been stress-tested by a genuine black swan event yet.
Disclosure: This article was edited by Editorial Team. 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 line between sovereign wealth and onchain finance just got thinner. Abu Dhabi’s Mubadala Capital, the asset management arm of the emirate’s sovereign wealth fund, has tokenized one of its private market funds using KAIO, a tokenization platform. Coinbase has taken a strategic stake in the onchain vehicle, according to the original report. The fund will be deployed across three distinct networks: Base, Solana, and Sui.
Mubadala manages north of $280 billion in assets, and its entry into tokenization is not a small pilot. Choosing three blockchains from the start signals a clear operational preference for infrastructure redundancy over picking a single winner. For an institution of this size, multi-chain deployment is as much about liquidity access as it is about technical insurance.
A Multi-Chain Platform Approach The decision to distribute the fund across Base, Solana, and Sui covers very different network philosophies. Base, as Coinbase’s own layer-2 on Ethereum, offers a direct line to the largest pool of decentralized finance activity and the exchange’s settlement rails. Solana brings speed and a deep order book for high-throughput asset movement. Sui adds a parallel processing architecture that has been attracting institutional staking and fintech integrations at a rapid clip.
Sui’s recent traction includes a Nasdaq-listed staking firm and a major payment partnership, as detailed in a recent market analysis. Combined with the developer momentum tracked among leading blockchains, the network choices here are not random. They map to where liquidity flows are becoming stickier and where institutional tooling is most mature.
Coinbase’s Strategic Stake Coinbase taking an equity position in the tokenized vehicle adds another layer. The company is no longer merely the exchange that lists assets or the provider of a custodial wallet. Through Base and now selective fund-level stakes, it is positioning as a core infrastructure partner for the tokenization of traditional private markets. This mirrors the strategy visible in the broader adoption of real-world assets, where the total value locked onchain recently crossed $20 billion, a threshold tracked in a recent weekly tokenization roundup.
For Mubadala, the Coinbase link provides a path to eventual secondary liquidity and regulated settlement. For Coinbase, the deal locks in a relationship with a sovereign-backed allocator that could scale far beyond a single fund. The stake aligns incentives without demanding full exclusivity, which is why the multi-chain deployment still makes sense.
The Institutional Tokenization Wave Gathers Pace This move comes as tokenization transitions from proof-of-concept to production across the industry. Apart from the headline $20 billion milestone, recent weeks have seen Bullish acquire Equiniti for $4.2 billion in a tokenization-focused deal and Ondo Finance run the first live tokenized Treasury settlement with JPMorgan. Mubadala’s entry is a sovereign-grade signal, and it arrives at a moment when the plumbing is finally in place.
What remains uncertain is how the tokenized fund will operate within existing regulatory frameworks. Mubadala’s private market fund structure may limit secondary trading, and the tokenization could be more about operational efficiency than public liquidity. Whether the onchain wrapper provides seamless settlement or merely a proof-of-concept will become clearer once the fund’s design details emerge. For now, the move reshapes the conversation around who builds the bridges between traditional capital and blockchain settlement layers.
Developer activity on the chosen networks also provides context for long-term viability. Networks that maintain high developer engagement tend to sustain the tooling and security standards that institutional clients demand. A glance at the latest rankings, such as those covered in a review of top blockchains by developer activity, shows Solana and Sui rising through the ranks alongside Ethereum’s layer-2s. The institutional push is not happening in a vacuum; it is riding on a wave of sustained builder momentum.
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Nicholas Otieno is a fintech writer specializing in cryptocurrency markets. Since 2019, he has written articles to educate readers about cryptocurrency and its substantial positive impact on global prosperity. Nicholas is a Bitcoin holder, believing firmly in its fundamentals. His work has been featured in publications such as Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, and among others. When he's not writing, Nicholas enjoys performing domestic tasks, spending time with friends, listening to music, and watching football.
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.
Coinbase will add exposure to the tokenized private-markets offering, which launched with about $75M in onchain value, KAIO said.
KAIO, a tokenization infrastructure firm, said it launched tokenized access to one of Mubadala Capital's evergreen private market strategies on Wednesday, live across Base, Solana and Sui with approximately $75 million in onchain value from traditional and digital-asset investors, according to KAIO's post on X.
Mubadala Capital is the asset-management arm associated with Abu Dhabi's sovereign wealth apparatus. KAIO described the offering as tokenized access to "one of Mubadala Capital's evergreen private market strategies," and called it "a milestone for how Sovereign Wealth Fund-backed private markets strategies can be made accessible through regulated digital infrastructure."
KAIO said Coinbase "will be adding exposure to the tokenised offering," which it framed as reflecting "growing appetite among publicly listed digital asset companies for regulated RWAs." KAIO did not detail the size of that exposure in the post.
The size of the launch was stated two ways across official channels. KAIO put the figure at "approximately US$75M in onchain TVL." Solana's official account described the same launch as "$75M in commitments from traditional and digital investors" and said KAIO "brings the @Mubadala Capital Alternative Solutions Fund to Solana," framing it around a single network rather than the three KAIO named.
Sui's official account added further figures not stated in KAIO's own post, citing a "$385B sovereign wealth fund," "$3.7B NAV" and "650+ underlying companies," and said KAIO "tokenizes @Mubadala Capital Alternative Solutions Fund's private market strategy onchain for the first time." Those NAV and portfolio-company figures, and the "first" characterization, appear only in the Sui post and are not independently confirmed here. Relayed figures elsewhere for the sovereign fund's assets under management ranged from about $400 billion to $430 billion, a further reason to treat the scale numbers as unverified.
Mubadala Capital has not been reached on its own channel in this dossier, so its participation and endorsement of the tokenization rest on KAIO's account and the co-branded Solana graphic. Onchain contract addresses for the tokens were not published in the posts reviewed.
The launch adds a sovereign-linked private-markets product to a growing set of tokenized fund offerings on Solana and other networks, and puts a listed U.S. exchange, Coinbase, in the position of taking exposure to a tokenized illiquid asset rather than only providing infrastructure.
One of the world’s largest sovereign wealth-linked managers just put $75 million worth of private market exposure on a blockchain.
Mubadala Capital, the investment arm of Abu Dhabi’s Mubadala Investment Company, went live on July 23, 2026 with a tokenized version of its Alternative Solutions Fund, officially named MCAS-TA. The fund runs across three blockchain networks: Coinbase’s Base, Solana, and Sui. It pulled in roughly $75 million in on-chain commitments at launch, drawing participation from both traditional asset managers and digital asset investors.
The infrastructure behind the product comes from KAIO, a UAE-based tokenization platform that announced its partnership with Mubadala Capital back in December 2025. KAIO handles the compliance architecture and distribution rails.
Why this matters beyond the press release Mubadala Capital manages approximately $430 billion in assets.
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Private market funds have historically been among the least accessible asset classes for most investors. Minimum commitments run high, liquidity is near-zero, and the onboarding process involves significant friction. Tokenization compresses those barriers by putting compliance, ownership records, and transfer mechanics on-chain: instead of a fund administrator managing cap tables in spreadsheets, the blockchain handles it. Investor eligibility checks happen through smart contract logic. Secondary transfers become possible where they previously weren’t.
For Coinbase specifically, this launch marks the first time it has integrated regulated tokenized assets into an institutional treasury management context, according to the research.
KAIO’s growing footprint in regulated tokenization KAIO has previously powered tokenized offerings from BlackRock and Hamilton Lane, with cumulative TVL across those products landing somewhere between $150 million and $200 million. Adding the Mubadala Capital fund pushes that number meaningfully higher.
The firm also closed a funding round in April 2026, which included backing from Tether.
The multi-chain deployment across Base, Solana, and Sui is itself a deliberate choice. Each network brings a different investor base and different technical properties. Solana offers high throughput and a growing institutional presence. Base plugs directly into Coinbase’s compliance and custody ecosystem. Sui is newer but has attracted attention for its object-based data model, which handles complex financial instruments differently than account-based chains.
What this signals for institutional tokenization broadly Tokenized treasuries and money market funds moved first because the underlying assets are simple and liquid. Private market funds are a harder problem: the assets are illiquid, the investor base is accredited, and the regulatory requirements vary by jurisdiction. The fact that Mubadala Capital is doing this with private market exposure rather than a simple bond wrapper is what makes the MCAS-TA launch notable.
Seventy-five million dollars in on-chain commitments at launch is the demand signal other sovereign-linked managers and large alternative asset firms will be watching as they evaluate the operational lift required to follow.
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.
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.
