Binance Research releases stablecoin industry report: Platform stablecoin reserves hit $53 billion, market share rises to 57%
Binance Research has released an industry report titled "Stablecoins: Reshaping the Financial Landscape". The report shows that as of now, Binance’s stablecoin reserve on its platform has reached $53 billion, with its market share rising from 54% to 57%—about $420 billion higher than that of the second-largest crypto exchange. Meanwhile, in the first five months of 2026, cumulative trading volume of TradFi-related perpetual contracts exceeded $1.1 trillion, with Binance’s volume topping $500 billion and accounting for roughly 47% of the market share. Additionally, since 2022, Binance Earn has distributed a total of $1.2 billion in yields to over 14 million stablecoin users. BNB Chain sees 10 million daily stablecoin transactions and 15 million monthly active addresses, holding a roughly 24% market share by transaction volume. The report notes that stablecoins are evolving from a crypto asset trading tool to a critical settlement infrastructure for global finance, while Binance has built a one-stop stablecoin financial ecosystem covering trading, payments, yields, investments and on-chain ecosystems.
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A popular Solana crypto wallet is set to integrate perpetual futures, according to a report by Motley Fool. This development is expected to enhance the wallet’s utility by allowing users to engage in leveraged positions without owning the underlying Solana (SOL) tokens. The integration represents a significant step in expanding Solana’s role as a decentralized finance (DeFi) hub, providing users with easier access to perpetual futures liquidity. Currently, Solana’s price hovers near $77, with market participants closely monitoring the $80 level as a potential breakout point.
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The introduction of perpetual futures could attract both institutional and retail interest, potentially impacting Solana’s market dynamics. As perpetual futures are derivatives without an expiration date, they offer a flexible option for users, which may lead to increased on-chain activity on the Solana network. This move is consistent with scenarios where Solana’s price trajectory might see upward pressure, as suggested by current market pricing.
Key Takeaways The integration of perpetual futures into a popular Solana wallet appears consistent with enhanced DeFi capabilities on the network. Market pricing suggests that participants view this development as supportive of Solana’s price increase, with potential for growth above the $80 mark. The addition of perpetual futures aligns with Solana’s strategy to expand institutional and retail access to its ecosystem. What to Watch Watch for further announcements regarding the specific wallet involved and the timeline for implementation. Key indicators include Solana’s ability to maintain support levels and any shifts in volume or on-chain activity. Developments such as institutional adoption or changes in regulatory stances could also influence market dynamics, affecting Solana’s price movement in July.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 31% — — View market → August 1 2026 0.8% — — View market → August 1 2026 0.1% — — View market → August 1 2026 4% — — View market → August 1 2026 1.8% — — View market → August 1 2026 0.9% — — View market → August 1 2026 10% — — View market → August 1 2026 1% — — View market → August 1 2026 18.5% — — View market → August 1 2026 0.2% — — View market → August 1 2026 3.2% — — View market → August 1 2026 0.1% — — View market →
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Pump.fun deposited 68,596 SOL valued at approximately $5.65 million into Kraken across several transactions, raising fresh questions about Solana’s near-term supply outlook.
The largest transfer reached 41,746 SOL, while several smaller deposits followed within hours, showing a coordinated movement toward the exchange.
Such transfers often preceded potential selling activity because tokens became readily available for trading.
However, the broader market showed little evidence that participants rushed to offload their holdings.
Exchange withdrawals continued dominating spot activity Spot flow data presented a different picture despite Pump.fun’s latest deposits.
Solana recorded a daily net outflow of $9.62 million, indicating that exchange withdrawals still exceeded deposits across the broader market.
The reading suggested many investors continued moving SOL away from trading platforms instead of preparing immediate sales.
Although the latest Kraken transfers introduced fresh supply, the wider flow data showed demand continued absorbing those additions without producing a sustained influx of exchange balances.
Such divergence highlighted an important distinction between isolated institutional transfers and overall investor behavior.
As long as aggregate outflows remain dominant, buyers appear willing to accumulate available liquidity rather than retreat from the market, reducing the immediate impact of Pump.fun’s exchange activity.
Source: CoinGlass Can Solana defend support after rejection? Solana [SOL] failed to sustain its recent advance after rejecting the $82.56 resistance level and later retreated toward $78.28 on the daily chart.
That decline pushed price closer to the $74.41 support, which remained the next level buyers needed to defend to preserve the recent recovery structure.
A deeper breakdown would likely expose $67.39 as the next significant downside target.
Meanwhile, the Relative Strength Index cooled from recent highs and settled around 54.95, while its moving average stood near 56.38.
Although buying strength weakened, the indicator remained above the neutral 50 mark and suggested bulls had not surrendered market control entirely.
If buyers defend the current zone, Solana could attempt another move toward $82.56. Otherwise, losing $74.41 would likely encourage another wave of selling pressure.
Source: TradingView Where could liquidations accelerate the next move? The 24-hour Liquidation Heatmap showed several dense liquidity clusters positioned above the current market price, with notable concentrations around the $79, $82, and $84 regions.
Those areas represented attractive targets because markets frequently moved toward heavily leveraged positions before reversing.
Meanwhile, liquidity below price appeared thinner, although several smaller clusters remained near the upper-$77 range.
That imbalance suggested any sustained recovery could trigger a sequence of short liquidations before facing stronger resistance near $82.
Even so, failure to stabilize above current levels could still expose nearby downside liquidity first.
Source: CoinGlass The heatmap therefore indicated that volatility would likely increase once price approach either concentration, making those zones critical for determining Solana’s next directional move.
Final Summary Pump.fun increased exchange-bound SOL supply, yet broader spot outflows continued supporting buyer interest. Solana held above key support, while overhead liquidity could attract another move toward resistance.
South Korea-based Toss has announced a new initiative to assess whether blockchain technology can support regulated payment and settlement systems without compromising on security or customer data protection. The fintech company is setting out to evaluate the feasibility of integrating public blockchain networks into the financial sector, addressing long-standing concerns over transparency and compliance.
Focus of the Proof of ConceptThe proof of concept (PoC) will center on three primary objectives: enabling financial institutions to retain direct control over payment and settlement processes, ensuring compliance with know-your-customer (KYC) and anti-money laundering (AML) regulations, and safeguarding transaction data on public blockchain networks.
According to Toss, this approach could allow blockchain-powered financial services to operate within the well-established standards that govern the banking space. The company underscores the importance of reconciling regulatory compliance with robust data privacy, which remains a critical concern for financial institutions.
Toss is aiming to test whether blockchain technology can support regulated payment and settlement systems without weakening security or customer data protection.
Seeking Privacy on Public NetworksOne of the main hurdles to widespread blockchain adoption in finance has been the inherent transparency of public blockchain networks. Because transactions are typically visible to all, banks and payment providers have been hesitant to transition sensitive customer operations onto such open infrastructure.
This project will therefore evaluate whether public blockchains can meet stringent privacy standards required for banking applications. Protecting transaction data is seen as a decisive factor for integrating blockchain into regulated financial services.
Memorandum with Solana Foundation for Settlements and RemittancesTo advance its blockchain-enabled settlement and cross-border transfer capabilities, Toss Bank has signed a memorandum of understanding with Solana Foundation. This collaboration marks a significant step in bridging traditional banking with next-generation crypto infrastructure.
Solana has earned a reputation as a high-performance blockchain network, while Toss Bank operates as the digital banking arm of the Toss ecosystem—one of South Korea’s leading fintech brands.
Mini glossary: “Settlement” refers to the process of finalizing and reconciling financial transactions between parties. A “proof of concept” is a limited-scale trial to test if a specific technology works in a given use case.
The memorandum between Toss Bank and Solana Foundation focuses on exploring blockchain-driven remittance and settlement services.
This partnership is expected to examine how regulatory obligations in banking can be balanced with the technical possibilities of public blockchain networks. The outcomes of the project could provide vital new insights into the role of public blockchains in the regulated finance sector.
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 SOL currently hovers between $79 and $82, marking approximately 10% growth in the last seven days following a notable recovery Roughly $120 million worth of SOL tokens exited centralized exchanges during the past week, signaling reduced selling pressure A SuperTrend buy signal has emerged on SOL’s 3-day price chart Prominent crypto analyst Ansem projects SOL could reach $150 in the coming months World, an innovative on-chain prediction marketplace within Phantom wallet, went live July 1 on the Solana network Solana (SOL) is currently positioned around the $79–82 price range following a 13.67% weekly climb that has captured the interest of market participants and technical analysts alike. This upward movement marks a significant shift after an extended period of sideways consolidation throughout the broader altcoin sector.
Solana (SOL) Price Trading volume exceeds $1.6 billion daily, demonstrating a clear change in short-term momentum. Market participants are now questioning whether this bullish trend can maintain its strength moving forward.
Approximately $120 million in SOL value departed from centralized exchanges throughout the previous week, representing roughly 1.5 million tokens relocated from trading venues. Such exchange outflow patterns typically indicate investors are transferring assets to self-custody solutions or staking protocols rather than positioning for immediate liquidation.
While this dynamic diminishes immediate selling pressure, it doesn’t automatically ensure price appreciation. Market bulls must successfully maintain the $75–77 support region for this bullish structure to remain viable.
The SuperTrend technical indicator has generated a buy signal on SOL’s 3-day chart timeframe. Historical data shows the previous sell signal on this identical timeframe preceded a significant price decline — making this development particularly noteworthy for technical traders. Bulls are seeking a definitive close above $82 before declaring the trend fully established.
Crypto Influencer Ansem Projects $150 Price Level Well-known crypto analyst Ansem, recognized for his consistent optimism regarding Solana, has openly projected SOL will recapture the $150 mark within several months. He recently re-emerged in the spotlight coinciding with the release of his memecoin project ANSEM (The Black Bull).
His thesis centers on the observation that on-chain tokens have been consolidating beneath critical resistance zones for more than twelve months, and such prolonged consolidation periods historically precede substantial directional breakouts. While he has also mentioned a longer-range objective of $600, most market participants view $150 as the more immediate target.
The MACD indicator maintains bullish momentum while the RSI reading hovers around 60 — positioned in neutral territory without reaching overbought or oversold extremes.
Resistance levels concentrate between the upper $80s and lower $90s. A decisive breakout above the $92–95 zone accompanied by substantial volume would create a pathway toward the psychological $100 milestone.
New Prediction Market Platform World Debuts on Solana Ecosystem On July 1, World made its debut as an on-chain prediction marketplace integrated within the Phantom wallet interface and accessible at world.xyz. The protocol enables participants to trade event-based contracts linked to cryptocurrency valuations and the 2026 FIFA World Cup.
The platform leverages Chainlink for oracle services and processes settlements via the CASH stablecoin. Operating on a non-custodial framework, it directs order flow through designated liquidity providers.
Phantom’s substantial existing user network provides World with immediate distribution throughout the Solana ecosystem. Prediction market platforms drive continuous on-chain transaction activity, contributing to sustained network utilization.
Analyst Ash Crypto highlighted on X that SOL has produced its initial green monthly candle in nine months, with the token advancing 38% from its $60 bottom and accumulating $14 billion in additional market capitalization.
For the first time in 9 months, $SOL has printed a green monthly candle.
SOL is now up +38% from its low of $60, adding $14 billion in market cap. pic.twitter.com/JOx0TyaZwg
— Ash Crypto (@AshCrypto) July 7, 2026
SOL’s critical upcoming threshold remains $82. Sustained trading above $80 coupled with a successful breach of the $92–95 resistance barrier would bring the $100 level back into serious consideration.
Solana has completed its first positive monthly close in nine months, marking a shift in momentum after a prolonged correction period. This comeback, which many in the crypto market interpret as a potential change in sentiment, follows a notable surge in SOL’s price and market capitalization. According to crypto analyst Ash Crypto, Solana has rallied 38% from its low of $60, adding roughly $14 billion to its market value in the process.
Nine month downtrend comes to an endAfter enduring persistent selling pressure in recent months, SOL broke its nine-month streak of consecutive negative candles with its latest monthly close. Investor interest rebounded as the price approached the $60 mark. While this reversal alone does not guarantee a new upward cycle, it does signal short-term recovery and renewed optimism among market participants.
Ash Crypto highlights that for the first time in nine months, Solana closed a month in the green, rebounding 38% from the $60 bottom and gaining about $14 billion in market cap.
Solana is widely recognized for its high throughput and low transaction fees among blockchain networks. The platform stands out particularly for its use cases in decentralized finance and token-based applications. The recent price recovery is seen not only as a technical blessing but also as a reflection of renewed network activity and user engagement.
Network data supports the reboundSOL’s price surge coincided with ongoing on-chain growth across the Solana ecosystem. Recent blockchain data points to rising transaction volumes, greater participation in decentralized finance, and increased stablecoin transfers. These trends indicate that network activity remained resilient, even during phases of weak price performance.
Mini glossary: On-chain data refers to direct measurements from a blockchain, including transactions, user activity, and asset flows. These metrics track actual network use independently of price movement.
In crypto markets, price movements and network fundamentals do not always align. Token prices can be influenced by broader macroeconomic factors, while consistent user activity tends to support long-term confidence. As a result, investors closely monitor not only price trends but also network vitality and engagement metrics.
Ongoing institutional interest in SolanaThroughout 2026, Solana has remained on the radar for institutional players. Asset management firms in the United States have submitted applications for spot Solana ETFs, while payment providers, tokenization initiatives, and decentralized finance platforms have expanded their support for the network. These developments reflect continued professional interest in the Solana ecosystem.
While no spot Solana ETF has yet been approved in the U.S., the ongoing filings keep institutional investors focused on the network. Analysts say that regulatory clarity will be a key factor shaping the flow of institutional capital into the ecosystem in the coming periods.
A single green monthly candle does not confirm a lasting bullish trend. Market participants are watching to see if SOL will form higher monthly lows and whether the recent recovery levels can hold as new support.
Looking forward, investors are expected to keep a close eye on on-chain metrics, developer activity, ETF application progress, and broader crypto market conditions. If ecosystem growth continues alongside improved market sentiment, Solana could further strengthen its position as a leading smart contract platform.
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.
According to monitoring by OnchainLens, Circle has issued an additional 250 million USDC on the Solana blockchain. So far in 2026, Circle’s total USDC issuance on the Solana chain stands at $65.03 billion.
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Shiba Inu is still under a lot of pressure even though it appears to be stabilizing close to local lows. The meme coin is currently trading at about $0.0000044 after going through a protracted bearish trend for a few weeks, which has largely eliminated the recovery momentum that was observed earlier this year.
For SHIB bulls, the daily chart presents a challenging picture. After supporting price action in March, April, and May, the asset recently broke out of a rising channel. Sellers swiftly regained control after that structure failed, pushing SHIB in the direction of its current range. Even though the token saw a slight increase in value in June, there wasn't enough volume in the recovery to overcome significant resistance levels.
SHIB/USDT Chart by TradingViewFrom a technical standpoint, SHIB is still below the 50-, 100-, and 200-day moving averages. This alignment suggests that buyers still have a lot of work ahead of them and is usually linked to a significant downtrend. Stronger barriers still exist close to the 100-day EMA and the declining 200-day trend line, while the closest resistance zone is located around the 50-day EMA. The RSI, which is still close to oversold territory, is one positive indicator.
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In the past, when momentum indicators hit such low levels, SHIB has frequently generated relief rallies. Oversold conditions by themselves, however, do not ensure a reversal, particularly when overall market sentiment is still unstable. Instead of initiating a full recovery, SHIB seems to be establishing a temporary base for the time being.
A more significant rebound may occur if buyers are able to sustain support around present levels and progressively raise the price above short-term moving averages. However, the asset would be vulnerable to another downward leg if the recent lows were not held. Whether SHIB is forming a bottom or just pausing before continuing its wider decline will probably be determined over the coming weeks.
Bitcoin's shallow recovery effort Following a significant sell-off that pushed the price below a number of crucial support levels, Bitcoin is making an effort to rebound. Although the recent surge has helped Bitcoin return to the $63,000 area, it now faces one of its most significant technical challenges in months. According to the chart, after losing support from a rising trendline that had dominated price action for the majority of the spring, Bitcoin experienced a significant breakdown in June.
Before buyers intervened, the collapse set off a wave of selling pressure that drove Bitcoin down to the low $60,000 region. Bitcoin has since recovered its short-term 50-day moving average, a sign that the bearish momentum is starting to subside. The recovery is still not complete, though. BTC is still below the 100-day and 200-day moving averages, which are located close to $66,000 and $75,000, respectively.
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Major resistance zones that might draw sellers are represented by these levels. Additionally, during the recovery, volume has stayed comparatively low, suggesting that institutional conviction has not completely returned.
Growing participation is a prerequisite for strong recovery rallies, which is still lacking in the current movement. The RSI is getting close to neutral territory and has greatly recovered from oversold conditions. This change does not yet prove a trend reversal, but it does imply that the worst of the panic selling may be behind us.
The area between $65,000 and $66,000 is the most crucial level to monitor. The bullish case would be strengthened and a wider recovery toward higher resistance levels would be possible with a successful break above that zone. But if Bitcoin doesn't succeed there, the current trend might just be a relief rally within a bigger bearish structure. For the time being, Bitcoin's comeback is still viable, but before bulls can declare victory, significant technical challenges must be overcome.
XRP stays cautious After weeks of intense selling pressure, XRP is making an effort to recover, but the asset has reached a technical crossroads that could dictate its course for the rest of the month. Bulls won their first significant victory since the June breakdown when XRP surged back above the 50-day EMA. In the vicinity of $1.18, the price momentarily rose toward the 100-day moving average, but sellers soon emerged and rejected the move.
Because of this, XRP is still caught between a general bearish trend and rebounding momentum. Technically speaking, the chart still recommends caution. The 200-day moving average is still well above current prices, at about $1.50, while the 100-day EMA continues to serve as immediate resistance. Therefore, despite the recent uptick, the long-term structure is still bearish.
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An encouraging indication is that momentum has improved. Panic selling has mostly stopped, as evidenced by XRP's RSI rising from oversold territory and getting closer to the neutral zone. Additionally, volume has increased during the recovery attempt, indicating that buyers are at least prepared to defend recent lows. Whether XRP can turn this bounce into a real trend reversal is the crucial question.
The bullish case would be greatly strengthened by a daily close above the 100-day EMA, which would also pave the way for the $1.28 area, where the 200-day trend resistance starts to become apparent. However, another decline toward the $1.05–$1.08 support zone could occur if the current resistance is not overcome.
For the time being, XRP is more resilient than it was for the majority of June, but before a more significant recovery can be verified, bulls still need a clear breakout.
Solana expresses strengthAfter regaining several significant technical levels during its recent recovery, Solana is one of the few major cryptocurrencies exhibiting observable signs of strength. SOL has recovered above its 50-day and 100-day moving averages after a protracted decline. Right now, the asset is trading close to $81 and is consolidating just below a sizable resistance area between $82 and $85. This region served as support prior to the market-wide sell-off in June, but it now poses the biggest obstacle for buyers.
SOL/USDT Chart by TradingViewSince the June bottom, Solana has established a series of higher lows, in contrast to many altcoins that are still stuck below short-term resistance. This suggests that buyers are progressively taking back control of the market structure. Additionally, momentum indicators confirm the improving outlook.
The RSI has risen above 60, indicating increasing buying pressure that has not yet reached overbought levels. In the past, readings within this range have frequently coincided with the initial phases of more robust recovery rallies. The breakout above the moving averages has more credibility because volume has increased during the rise.
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Thin liquidity was not the cause of the recent spike; rather, a discernible rise in market participation was. A clear move above the $85-$90 range is the next goal for bulls. The 200-day moving average around $96 would come into focus with a successful breakout there, and it might also mark the start of a more significant trend reversal.
Nonetheless, traders shouldn't disregard the potential for a brief decline. Solana has recovered significantly from its June lows, and it would be typical to take profits close to resistance. The recovery structure is unaffected as long as SOL stays above its recovered moving averages.
Solana currently has one of the best technical setups of any major altcoin, but before the bear trend can be deemed completely broken, it still needs to get past long-term resistance.
After an eight-week stretch that saw more than $8.2 billion drain from Bitcoin spot ETFs, the bleeding has finally stopped. A single-day inflow of roughly $222 million on July 2 broke the outflow streak, driven largely by fresh capital flowing into Fidelity’s FBTC product.
The great Bitcoin ETF exodus, and its messy reversal The week of June 29 to July 3 alone saw $527 million in net outflows. Then July 2 happened. Approximately $222 million flowed back in on a single day, snapping the streak. Fidelity’s FBTC was the primary magnet for that capital.
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Solana ETFs are having a very different experience US Solana spot ETFs, which launched on October 28, 2025, have accumulated more than $1 billion in cumulative inflows in just a few months of trading.
During the same early July week when Bitcoin flows finally turned positive, Solana ETFs pulled in $5.75 million in net inflows. On July 6, daily inflows hit 103,020 SOL equivalent. Solana ETFs have experienced positive inflows on every trading day during this period. While Bitcoin and Ethereum funds were dealing with redemptions, products like Bitwise’s BSOL and Grayscale’s GSOL kept attracting fresh capital without interruption.
Bitcoin’s spot products have collectively gathered tens of billions since their January 2024 launch.
What this means for investors Investors watching for sustained recovery should track whether inflows persist across multiple issuers, not just one, as Fidelity’s FBTC absorbed the bulk of the July 2 inflow.
Breaking $1 billion in cumulative flows within months of launch puts Solana ETF products on a notable trajectory. Major issuers including Bitwise, Grayscale, Fidelity, and BlackRock are all competing in this space, with data aggregators like SoSoValue and CoinGlass tracking the daily flows.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
A single malicious governance proposal drained roughly $20 million from BonkDAO’s treasury on Tuesday, laying bare the thin security margins that protect token-weighted voting systems on Solana. Details from the original report show the attacker pushed a governance measure after quietly building a voting block with $4 million worth of BONK, enough to steer the outcome.
The treasury loss hits BonkDAO at an awkward time. BONK remains one of Solana’s largest memecoins by market cap, and its DAO controls a treasury designed to fund ecosystem grants, liquidity incentives, and marketing pushes. Losing $20 million in a single proposal undercuts the notion that large token holders reliably protect community treasuries.
How the Attack Unfolded The attacker did not exploit smart contract code. The vector was far simpler: buy enough governance tokens to dominate a vote. After acquiring $4 million in BONK, the entity submitted a standard-looking treasury transfer proposal. When the vote closed, the treasury moved roughly $20 million in BONK to addresses the attacker controlled.
BonkDAO confirmed it has identified exchange accounts used to acquire the voting block before the proposal. It is now coordinating with exchanges, bridges, and the Solana Foundation to freeze or trace the funds. The speed of the response matters. Exchange compliance teams often have a narrow window to flag suspicious withdrawals before assets cascade through mixers or cross-chain routes.
The Weakness of Token-Weighted Governance DAOs built on pure token-voting models have been taking fire for years, but the memecoin sector has been especially slow to adopt safeguards like time-locks, quorum thresholds tied to active participation, or multi-phase proposal reviews. Many meme coin DAOs optimize for speed and community engagement, not treasury security.
This incident fits a pattern that governance researchers have warned about repeatedly. A well-capitalized actor can purchase enough tokens to pass almost any proposal on chains where governance power is cheap and concentration is low. While BonkDAO’s treasury is substantial, its governance token liquidity did not make the $4 million buy particularly difficult to hide until the vote concluded.
Still, Solana’s broader DeFi and developer activity remain robust. As BlockchainReporter noted in its recent breakdown of top blockchains by developer activity, Solana continues to draw strong builder interest, a trend that exists apart from the speculative winds that drive memecoin treasuries.
Recovery Efforts and What Comes Next The most pressing variable is whether any of the drained BONK can be recovered. Centralized exchanges that hold attacker-linked accounts may freeze remaining balances, but if the tokens have already moved off-platform or been sold, the chances drop sharply. The Solana Foundation’s involvement suggests some hope of freezing on-chain assets, though a truly determined adversary will have planned for that possibility.
What remains uncertain is how BonkDAO adjusts its governance parameters. The community will likely push for higher proposal thresholds and mandatory delay periods, but implementing changes requires another governance vote — the very process that was just compromised. A short-term solution could involve a multisig override controlled by a limited set of trusted contributors, a move that centralizes control but buys time while permanent fixes are debated.
For the wider Solana memecoin corridor, the attack serves as a reminder that treasury size is not a substitute for treasury security. Other DAOs sitting on eight-figure token reserves will now face pressure to explain why their own governance designs cannot be gamed with a fraction of their treasury value.
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The BONK price dropped around 8% on July 6 after BonkDAO. The decentralized governance body behind Solana’s popular memecoin $BONK, confirmed that a malicious governance proposal drained an estimated $20 million from its treasury. The attacker strategically planned the attack by using DAO’s voting rules to carry out the exploit. The exploiter carted away an estimated sum of $20 million.
How the Attacker Bought Their Way Into BonkDAO’s Treasury Insights from on-chain analysis and data reports disclosed that investors invested about $4 million in the purchase of BONK via Binance and Bybit days before the vote.
This move gave him enough voting power on Solana’s Realms governance platform needed to manipulate the Bank into approving the transaction proposal without suspicion.
Onchain data showed approximately 4.426 trillion BONK, worth about $20 million, missing after Sowellian BonkDAO authorized a direct treasury transfer. The transaction of the stolen assets was seamless, as the proposal passed with minimal community participation, no execution delay, and the voting power was based on liquid tokens.
At the close of the voting exercise, the attacker immediately moved the funds to a wallet linked to a Bybit account, then transferred them to a second Solana address. Blockchain tracker Lookonchain traced the movement and posted it on X.
Someone spent $4.4M to steal $21.2M from the #BONK treasury, making a profit of $16.8M.
How did it happen?👇
➡️ On June 30, the attacker submitted a governance proposal to transfer 4.426T $BONK($21.2M) from the treasury to a wallet he controlled (9bxW…JHvQ).… pic.twitter.com/VElnDuazki
— Lookonchain (@lookonchain) July 7, 2026
A similar event occurred in March 2026, when attackers hijacked Bunk.fun and deployed wallet drainers to milk users’ accumulated assets. Reports noted that the $BONK case differs sharply, as the attacker moved the stolen funds through the DAO’s own sanctioned process, making it harder to reverse.
Nasdaq-listed Bonk Holdings had recently made a major $32 million purchase of BONK ahead of this incident. This therefore makes the governance breach a particularly sharp setback for institutional confidence in the token.
BONK currently trades at $0.0000054398, down 7.2% in the last 24 hours. The recorded 24-hour trading volume was $116,895,394 with a market cap of $388,771,163.
BonkDAO Coordinates With Exchanges and Law Enforcement to Recover Funds Plans are being made to track down the exchange wallets involved in the malicious transaction and recover the stolen assets. This move was disclosed on X by BonkDAO in a recently released official statement. The Solana Foundation and the law enforcement agents would be maximally utilized in this exercise.
BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BONK tokens being drained from the BonkDAO treasury.
During the investigation, BonkDAO identified the exchange wallets used to purchase BONK ahead of the proposal. BonkDAO is…
— BONK!!! (@bonk_inu) July 6, 2026
In solidarity, South Korean exchanges Upbit and Kraken have contributed their quota in capturing the attacker by suspending BONK deposits and withdrawals in the meantime.
The broader DeFi security picture in 2026 adds context to this incident. A $45 million breach of the Aave V3 protocol via oracle manipulation occurred in March, and an exploit on Solana-based DEX Jupiter followed in April.
The BONK price had been riding positive sentiment in recent months. Earlier this year, BonkDAO executed a major treasury burn of 1.69 trillion BONK, and BitCapital moved to launch a BONK-backed ETP on the Swiss Exchange.
The governance attack now threatens to undo that goodwill. Community analyst @zubic_eth highlighted on X how token-weighted voting with no lockup requirements made this drain almost inevitable.
This is wild!! 🤯
BONKDAO just got rugged for $20M in BONK through a governance proposal. No smart contract hack, no flash loans. Just an attacker who bought around $4M worth of tokens, stacked enough voting power, and passed a malicious proposal that drained the treasury… pic.twitter.com/FuSEDitFN4
— zubic (@zubic_eth) July 6, 2026
In order for the BONK price to stabilize, strategic moves need to be put in place. Higher quorum thresholds and multisignature controls on treasury movements are some of the determinants of BonkDAO’s success rate.
Our guide compares top decentralized futures exchanges by liquidity and fees.
BonkDAO—the entity managing aspects of the BONK memecoin ecosystem on Solana—has confirmed the loss of roughly $20 million worth of BONK tokens from its treasury. The incident stemmed from a malicious governance proposal that successfully authorized the transfer of funds to an attacker-controlled wallet.
According to BonkDAO’s official statement, the attack exploited the DAO’s voting system rather than any underlying smart contract flaw.
The perpetrator reportedly accumulated sufficient BONK tokens—estimated around $4 million worth—through purchases on exchanges in the lead-up to the vote.
This allowed them to secure enough voting power in the token-weighted governance framework on Solana’s Realms platform to push through the proposal.
BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BONK tokens being drained from the BonkDAO treasury.
During the investigation, BonkDAO identified the exchange wallets used to purchase BONK ahead of the proposal. BonkDAO is…
— BONK!!! (@bonk_inu) July 6, 2026
The measure reportedly passed with minimal participation, highlighting how low voter turnout and quorum thresholds can enable such exploits.
BonkDAO investigators traced the attacker’s activity to specific exchange wallets used for the pre-proposal token acquisitions.
The stolen tokens, totaling approximately 4.426 trillion BONK at the time, began moving toward centralized exchanges shortly after the proposal executed.
In response, platforms such as South Korea’s Upbit temporarily halted BONK deposits and withdrawals to mitigate further risks.
The DAO has taken swift action by notifying law enforcement and actively collaborating with exchanges, bridges, the Solana Foundation, and other relevant parties.
The goal is to recover the funds, freeze assets where possible, and identify those responsible.
While recovery efforts are ongoing, the immediate market reaction saw the BONK token decline sharply—reports indicated drops of 8% to over 9% in the hours following the announcement.
This event adds to a growing list of governance-related incidents in the crypto space, where attackers leverage economic power rather than technical exploits.
Token-weighted voting systems, common in many DAOs, can become susceptible when a single actor or coordinated group amasses a critical mass of governance tokens at a relatively low cost, especially amid apathetic participation from token holders.
The BonkDAO case underscores the need for stronger safeguards, such as higher quorum requirements, time delays on proposal execution, or hybrid governance models that incorporate reputation or multisig oversight.
BONK, launched on Solana in late 2022 as a community-driven memecoin with a notable airdrop, has positioned itself among more established projects in its category, even appearing in certain investment products.
The treasury drain represents a material setback for the ecosystem’s decentralized governance arm, potentially affecting community initiatives and development funding managed by BonkDAO.
As investigations continue, the incident serves as yet another concerning reminder of the evolving security landscape in decentralized finance and governance. Projects and communities are increasingly urged to audit voting mechanisms, encourage broader participation, and implement protective measures against economic attacks that bypass traditional code vulnerabilities.
Solana has extended its July rally after record on-chain activity, tokenized stock issuance, and steady ETF inflows revived bullish sentiment.
Summary
Solana climbed above $81 after tokenized stock issuance and record network activity boosted buying interest. Technical charts show bulls defending $80 support while traders watch $83 and $90 as the next resistance levels. Analysts remain optimistic on long-term upside, though macro risks and liquidity could limit near-term gains. According to data from crypto.news, Solana (SOL) extended its recovery this week, gaining roughly 11% over several sessions to trade around $81 after briefly reclaiming the $82 level. The rally accelerated as institutional adoption on the network continued to expand, led by Securitize tokenizing $295 million worth of New York Stock Exchange-listed common stock on Solana following its SPAC debut.
The development arrived alongside the launch of the Solana Foundation’s Governance Proposals framework, introducing formal on-chain validator voting and adding another utility milestone for the ecosystem.
Network activity has expanded at the same time. Solana processed more than one billion weekly non-vote transactions for the first time, while tokenized asset spot volume reached an all-time quarterly high of $5.77 billion, reinforcing the network’s growing role in real-world asset issuance.
Institutional demand also remained positive, with spot Solana ETFs recording approximately $5.75 million in net inflows even as several other crypto investment products experienced persistent capital outflows.
Technical structure has shifted back in favor of buyers The daily chart shows Solana recovering from its June selloff after buyers defended the long-term support zone near $73, close to the 0.786 Fibonacci retracement level referenced by many traders during last month’s decline. Price has now reclaimed the previous breakdown area around $80.14 and is attempting to convert it into support while approaching horizontal resistance near $83.13.
Solana daily price chart — July 7 | Source: crypto.news Momentum indicators have improved alongside the rebound. The daily RSI has climbed above 62 after recovering from oversold conditions in June, while the Supertrend indicator has remained bullish with dynamic support near $69.6. A successful close above $83 could expose the next resistance around $90, whereas failure to hold above $80 may invite another test of the $75.4 support region.
Shorter-term charts also favor bulls. On the 4-hour timeframe, SOL continues trading above its 20-, 50-, 100- and 200-period moving averages, with the 20 SMA near $81.4 providing immediate dynamic support. The moving average alignment remains constructive even as price has entered a brief consolidation after last week’s sharp advance. The Aroon indicator still favors buyers, although the slight decline in Aroon Up suggests momentum has slowed while the market waits for another catalyst.
Solana 4-hour price chart — July 7 | Source: crypto.news Derivatives positioning presents a similar picture. CoinGlass liquidation heatmaps show one of the largest nearby short liquidation clusters sitting around the $84 level. A decisive move through that zone could trigger forced short covering and accelerate upside toward the upper liquidity pocket near $87. On the downside, dense long liquidation levels have accumulated between $78 and $79, making that area an important support if profit-taking intensifies.
Solana liquidation heatmap | Source: CoinGlass Analysts target triple-digit prices while key resistance remains intact Market participants have also become more optimistic after Solana strengthened against Bitcoin. Commenting on the latest structure, analyst Michaël van de Poppe wrote that SOL “is still in an uptrend here,” adding that it has broken its year-long downtrend versus Bitcoin.
“I don’t think that we’ll stall, I do think that we’ll continue to see strength happening here,” he wrote, adding that he would buy lower levels if a deeper correction develops before concluding that “it’s a matter of time until $SOL regains the $100+ levels.”
Despite the improving technical backdrop, Solana remains roughly 74% below its all-time high near $293 and more than 40% lower year to date. Macro uncertainty surrounding future Federal Reserve policy, geopolitical risks, and relatively thin crypto spot liquidity continues to limit aggressive positioning. Until bulls establish sustained closes above the $90 and $100 resistance zones, the current recovery is likely to remain vulnerable to renewed selling pressure despite the network’s strengthening institutional fundamentals.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
The total value of real world assets (RWAs) tokenized on the Stellar network has surpassed 3 billion dollars, according to the latest figures released by the RWA Foundation. This new milestone not only highlights the rising institutional interest but also points to increased on-chain adoption of the Stellar blockchain in bringing traditional assets to digital platforms.
A new threshold in institutional adoptionCrossing the 3 billion dollar threshold marks one of Stellar’s most significant breakthroughs to date. Data shows that this figure covers both the value of assets actively distributed on-chain and those represented digitally. The surge reflects a sharp acceleration in the tokenization of traditional financial products on Stellar, reinforcing the platform’s appeal as a blockchain of choice for major players seeking to digitize real-world assets.
Stellar, often compared to XRP Ledger, has carved out a strategic position by focusing on payment infrastructure, asset issuance, and tokenization. This technical direction has made Stellar a favored network for financial institutions aiming to bridge conventional assets with blockchain innovations. The growth is further supported by the Stellar Development Foundation, a nonprofit committed to advancing the platform’s capabilities globally.
Data from the RWA Foundation revealed that the value of on-chain real world assets on the Stellar network has breached the 3 billion dollar mark, representing a pivotal moment in the ecosystem’s evolution.
Rising to the top in tokenized investment strategiesStellar’s boom isn’t limited to overall RWA value. The network now holds the top spot in the category of value distributed in tokenized active investment strategies, reaching 620 million dollars. This reflects not only asset representation but a growing adoption of digital investment vehicles on the Stellar blockchain.
Setting itself apart from the competition, Stellar’s distributed value in this space outpaces leading rivals. Ethereum, for instance, claims second place with 342.9 million dollars, while Mantle and Avalanche lag behind at 113 million and 108.6 million dollars, respectively. These figures underscore Stellar’s growing clout among both institutional and retail investors seeking blockchain-based investment products.
NetworkDistributed ValueStellar620 million dollarsEthereum342.9 million dollarsMantle113 million dollarsAvalanche108.6 million dollarsStellar pulls ahead of Ethereum and SolanaThe ranking continues with Polygon at 82.3 million dollars, Arbitrum at 70.8 million, Monad at 61.3 million, Base at 40.4 million, and Plume Network at 36.9 million dollars. Solana trails with only 26.7 million dollars in distributed value, occupying a lower position on the list.
This landscape reveals that Stellar has overtaken even larger ecosystems like Ethereum and Solana specifically within the sphere of tokenized investment products. The platform’s recent gains signal a changing dynamic in the pursuit to bring real world assets into the blockchain space, intensifying the competition among major networks.
Stellar has surged ahead of rival networks in tokenized active investment strategies, boasting a distributed value of 620 million dollars.
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.
The crypto market may be sitting on a fragile foundation. According to a recent market health assessment from the CEO of Alphractal, unliquidated long positions have piled up across Bitcoin, Ethereum, XRP, and Solana, creating conditions where even a modest pullback could trigger a broader wave of selling.
The concern isn’t that prices have already collapsed. It’s that leveraged traders continue betting on higher prices while the market has produced only a weak advance. That imbalance, if left unresolved, could become the catalyst for a much sharper move lower.
Long Positions Continue To Stack UpLeverage has been doing most of the heavy lifting lately. The diagnosis suggests that BTC, ETH, XRP, and SOL now carry a significant buildup of long positions accumulated over the past month. These trades all depend on continued upside momentum, but without a strong breakout, they become increasingly vulnerable.
When too many traders are positioned on the same side of the market, price weakness can quickly turn into forced liquidations.
Domino Effect Could Hit Multiple AssetsThe warning extends beyond a single cryptocurrency. If a meaningful pullback begins, the analyst believes liquidations could spread rapidly across both derivatives and spot markets, amplifying selling pressure through a chain reaction. Among the major assets, Ethereum, Solana, and XRP are viewed as carrying greater short-term leverage risk than Bitcoin because of the heavier concentration of long positions.
That doesn’t guarantee a correction, but it does increase market sensitivity to negative price momentum.
Why A Cleanup May MatterOnce again, unliquidated Long positions are dominating BTC, ETH, XRP, and SOL.
The market has moved up very weakly over the past few days, and the current moment deserves a bit more attention.
Any slip in the next few hours could allow bears to take control, triggering a new… pic.twitter.com/PsDowAswSY
— Joao Wedson (@joao_wedson) July 7, 2026 The crypto market has seen this pattern before. Excess leverage often fuels sharp volatility, but it can also clear out speculative positions.
According to the assessment, removing excessive leverage may ultimately create healthier market conditions and lay the groundwork for a stronger recovery later. Until then, however, traders could face additional downside pressure and elevated fear if long positions begin unwinding across the market.
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BonkDAO, stewards of Solana’s favorite memecoin, has lost over $20M from its treasury after an opportunistic attacker took advantage of decentralized governance.
While BonkDAO has commenced legal action against the “attacker”, market participants have argued that the exploit is simply another example of DAO governance “functioning as intended”.
Despite plummeting 8%, the Solana community has rallied around $BONK, a lore-rich coin that once breathed new life into the chain and pulled Solana out of its darkest days.
Opportunistic Attacker Sends Themself $20M $BonkDAO Treasury On June 30, a malicious actor began a calculated governance attack on the BonkDAO treasury, resulting in the unexpected transfer of ~$21M in funds on July.
After acquiring enough $BONK to float a new governance proposal, the attacker floated BIP-76, a proposal that would transfer 4.4T $BONK to their own wallet if passed.
Unfortunately for BonkDAO, inactivity and voter apathy meant that BIP-76 went through completely unchallenged, with 99% of votes supporting the malicious proposal. Funds have since been moved to a separate holding wallet.
While at first glance the complete siphoning of the BonkDAO treasury funds looks like a hack or exploit, commentators have argued that this is nothing more than a clumsy governance blunder.
BonkDAO Seeks Legal Action Devoid of its treasury, BonkDAO is now actively taking legal action against the attacker. According to onchain data, the wallets used to both create the proposal and receive 4T $BONK were originally funded from ByBit, meaning that the exchange should have some KYC-verified information regarding the attacker’s identity.
However, while BonkDAO looks towards the firm arm of the law, market participants are unconvinced whether the attack was in any way illegal.
However, there may be a glimmer of hope for aggrieved $BONK holders and DAO supporters. Onchain analyst Tay argues that yesterday’s governance attack could be constituted as Wire Fraud under 18 U.S.C. § 1343. BIP-76 outlined that the exploiter’s intention was to cover the attack by promising to “stop the bleeding”, “rebuild”, and “install new members”. These could be construed as ‘false promises’ to defraud people out of their funds, perhaps giving BonkDAO an argument in the court of law.
Community Divided as $BONK Tumbles 8% Optics, governance flaws, and voter apathy aside, the Solana community has lamented the attack against one of its favorite cultural icons. While the new cohort of Solana’s onchain traders know Bonk primarily as the branding behind its launchpad, bonk.fun, OGs remember $BONK much more fondly.
Quietly to tens of thousands of wallets on Christmas Day, 2022, $BONK quickly became Solana’s most iconic memecoin. From the ashes of the FTX collapse, $BONK became a Solana success story when the rest of the industry was criticizing the network for outages and for only having 75 devs.
With its runway effectively evaporating overnight with no guarantee of its return, $BONK has dropped ~8%, currently trading hands at a market capitalization of $375M
Read More on SolanaFloor Memecoin mania puts pump.fun back on top
Pump Leads DEX Volume Across All Chains Ahead of $135M Token Unlocks
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A new round of debate is gaining momentum on X over why investors should hold base-layer network tokens at all. In the crypto community, the view has taken hold that only Bitcoin has established itself as a valuable asset, while all other tokens are just attempts to build technology platforms that cannot retain value and do not provide compound returns.
Solana founder Anatoly Yakovenko tried to put an end to the latest discussion in a new post, explaining why this myth is wrong and why there are "true tokens" on the market with a fundamentally different form of ownership.
Why holding 'true tokens' isn't useless: Solana's Yakovenko explainsAccording to Yakovenko's logic, traditional stocks provide only legal rights, which any government can freeze with a single click. In contrast, the head of Solana points to infrastructure tokens, which provide not paper promises of profit but real mathematical power.
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For him, network rights in a blockchain are legally unenforceable, because no one in the world is obligated to run someone else's software, but they also cannot be taken away if anyone who wants to can run that software.
True tokens exist, as apposed to bad equity or debt. Network rights are unenforceable because no one has the obligation to run your software. But also cannot be taken away when anyone can run it. You have no rights, but you have all the power to enforce your own guarantees.…
— toly 🇺🇸 (@toly) July 7, 2026 In Yakovenko's view, the holder of such a token enforces their own economic guarantees without relying on courts. The blockchain developer describes the blockchain itself as a "Schelling point" — a neutral digital space where millions of people coordinate capital simply because the rules of the game are the same for everyone and cannot be forged.
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The market reality shown by current CoinMarketCap statistics clearly highlights this debate. On the one hand, the total capitalization of assets based on Solana stands at $195.71 billion, meaning that large capital clearly believes in the reliability of this coordination environment.
On the other hand, the network's native token, SOL, is trading at around $81.67 — a price level that lags behind record operational activity, which is exactly what fuels the arguments of skeptics.
Market capitalization of Solana ecosystem, Source: CoinMarketCapThis gap between infrastructure utility and asset value is forcing developers to move from discussion to code. To prove the ability of technology platforms to accumulate capital, Solana is currently changing its tokenomics.
Through new technical proposals, including SIMD-547 on burning base fees, the network is introducing mechanisms for stronger value retention. The goal is to support the mathematical freedom of tokens described by Yakovenko with economic logic that investors can understand, proving through action that value can belong not only to Bitcoin.
Makrovision, an analytics company closely followed in the market for its analyses, has released its updated forecasts and expectations for Solana.
Accordingly, in their latest assessment of Solana’s technical outlook, Makrovision analysts stated that SOL has now returned to a critical decision zone.
Solana noted that after its price dropped below $85,000, it is now moving back towards its old support area and the descending trend line.
Analysts also identified three key levels for Solana:
“• Initial retracement level at $85
• Next resistance at $97
• Larger buying zone between $117–126”
Analysts concluded that as long as Solana remains below these levels, its movements are currently only a technical recovery within a downward trend.
However, if the SOL is cleanly recovered and held at the $97 level, the short-term outlook could improve significantly.
Solana is still trading at $80.7 at the time of writing.
*This is not investment advice.
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G2 Esports and Nongshim RedForce squared off at the Esports World Cup 2026, with the group stage clash on July 3, 2026, seeing NS RedForce take the series 2-1 over G2, including a dominant 13-5 performance on the Breeze map.
G2’s crypto playbook is already paying off G2 Esports made a significant investment in Solana tokens around 2023, putting approximately €3.2 million into SOL. That bet turned into roughly €16 million in returns.
The org also maintains an ongoing sponsorship partnership with Betpanda, a crypto-centric betting platform. That deal puts a digital asset brand in front of millions of esports viewers across tournaments like the EWC.
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Not every crypto venture has gone smoothly for G2, though. A previous collaboration with NFT platform Bondly ended in litigation, a reminder that the intersection of esports and crypto still carries meaningful risk alongside the upside.
Prediction markets are turning matches into tradeable events Platforms like Coinbase Predictions and Kalshi have started listing active betting and prediction markets for EWC Valorant matches.
For traders, these markets offer on-chain transparency, programmable settlement, and the ability to integrate match data into broader trading strategies. When G2 plays a high-profile match, the prediction market activity around it generates real-time sentiment data that savvy participants can use.
Why this matters beyond gaming G2 isn’t just accepting sponsorship dollars from crypto firms. They’re holding crypto on their balance sheet, partnering with crypto-native betting platforms, and competing in tournaments where prediction markets provide real-time financial infrastructure around every match.
The risk, as G2’s Bondly litigation reminds us, is that not every crypto partnership delivers. Regulatory scrutiny around prediction markets and crypto betting is intensifying in multiple jurisdictions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Debate has reignited among crypto investors on X over whether holding base layer network tokens remains a smart strategy. A section of the crypto community argues that only Bitcoin stands out as an asset capable of producing lasting value, viewing other tokens as mere technical platforms that struggle to maintain enduring worth.
Yakovenko pushes backAnatoly Yakovenko, one of Solana’s co-founders, believes this perspective is incomplete. According to Yakovenko, there are “real tokens” present in the market whose ownership structures diverge fundamentally from most traditional financial assets. Solana itself is known as a high-throughput blockchain offering fast and low-cost transactions.
Yakovenko points out that while traditional shares typically grant legal rights, network infrastructure tokens offer, not paper promises of profit, but direct mathematical and network-based authority.
Yakovenko emphasizes that rights within blockchain networks are not enforced through courts in the conventional sense. However, those same rights cannot be unilaterally revoked, as anyone with technical knowledge can run the open-source software. In this way, token holders can exercise economic security independently, without relying on any central authority.
He describes blockchain as a neutral digital arena where capital can be coordinated by large numbers of individuals under the same rules. This system, he argues, works precisely because the rules are identical for everyone and cannot be easily changed.
Mini glossary: A Schelling point is a concept describing how people converge on a common choice without prior communication. In blockchain, it refers to a shared digital ground where users agree to the same set of rules and thus recognize the same reference network.
Market data fuels ongoing debateRecent market figures help illustrate the differing views. According to CoinMarketCap, assets based on the Solana ecosystem together command a market capitalization of $195.71 billion. This suggests that major capital trusts the network’s coordination capabilities to some extent.
Meanwhile, Solana’s native token, SOL, currently trades around $81.67. Despite strong operational activity within the network, the price’s relatively modest level strengthens the case for those who remain skeptical about lasting value in such tokens.
The discrepancy between protocol usage and token market cap once again raises the question of how effectively network tokens can translate technical utility into financial value.
New directions in token economicsThese diverging views have prompted developers to move beyond theoretical arguments. Solana is exploring changes to its token economics in a bid to demonstrate that technology platforms can, in fact, accumulate significant capital.
Among the technical proposals under discussion is SIMD 547, which introduces burning of base transaction fees. With mechanisms like these, Solana seeks to strengthen the token’s value retention. The aim is to complement Yakovenko’s vision of mathematical freedom with an economic framework that investors can more easily follow.
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.
The mood around crypto investment products has started to improve after one of the darkest periods for institutional demand this year. Fresh inflows into Bitcoin, Solana, and Hyperliquid ETFs suggest investors may be regaining confidence, although it remains too early to conclude that the broader market has fully recovered.
Bitcoin Leads the Recovery As shown by SoSoValue data, U.S. spot Bitcoin ETFs recorded $265.69 million in net inflows yesterday, their strongest daily performance since May 5. The rebound follows a difficult stretch in which Bitcoin ETFs lost billions of dollars as investors reduced exposure during the recent market downturn.
Bitcoin has also stabilized after briefly falling below $60,000 in late June. It is currently trading around $63,000 today after an overnight move above $64,000 faded. Despite the pullback, the asset remains up about 7% over the past week.
The recovery has also held despite Strategy selling 3,588 $BTC, worth about $216 million, in its largest Bitcoin sale since abandoning its previous never-sell approach.
Solana and Hyperliquid See Matching Inflows U.S. spot Solana ETFs attracted $8.36 million in net inflows yesterday, July 6, their strongest daily inflow in nearly 2 months. Every dollar came through Bitwise's $BSOL fund.
Hyperliquid ETFs recorded $8.43 million in net inflows during the same session, with Bitwise's $BHYP accounting for the entire amount.
The nearly identical flows into $BSOL and $BHYP have also appeared at other times over recent days. The pattern has led some market observers to speculate that a single investor may be allocating capital equally between Bitwise's Solana and Hyperliquid ETFs.
Meanwhile, $SOL climbed as high as $83.50 earlier today and has continued to trade above $80 after recovering from recent lows near $60.
A Sharp Contrast From June The renewed buying marks a significant change from late June, when crypto ETFs experienced one of their weakest periods since spot products launched in the United States.
Bitcoin, Ethereum, Solana, and XRP investment products collectively lost about $5 billion over 30 days as Bitcoin fell below $60,000. June also became the first month in which U.S. spot Solana ETFs posted net monthly outflows, while Bitcoin ETFs recorded their largest monthly withdrawals on record.
Are We Back? The recent improvement in ETF flows offers an encouraging sign, but it does not yet confirm that institutional demand has fully returned.
Earlier this year, Hunter Horsley, CEO of Bitwise, argued that Solana and Hyperliquid are both benefiting from the broader shift of capital markets onto blockchain networks. He suggested their long-term success depends less on competing with each other and more on the continued adoption of onchain capital markets.
For now, the return of meaningful ETF inflows suggests sentiment has improved from the lows seen just weeks ago. Whether this marks the beginning of a sustained recovery or only a temporary rebound will depend on several factors. One of which is whether or not institutional buying continues in the weeks ahead.
Read More on SolanaFloor $20M of Treasury Funds Lost in BonkDAO Governance Blunder
Solana Reclaims No. 1 Spot for Network REV After 4 Months as Onchain Demand Explodes
Hyperliquid is a purpose-built Layer 1 blockchain optimized for perpetual futures trading, commanding approximately 70% of all decentralized perpetual futures volume and $6.5 billion in daily activity. Solana operates as a general-purpose Layer 1 blockchain hosting thousands of applications across DeFi, NFTs, gaming, payments, and consumer apps, with over $5 billion in total value locked. Hyperliquid generates approximately $830 million in annualized revenue with 97 to 99% of fees flowing into token buybacks, creating one of the strongest value-accrual mechanisms in decentralized finance. Solana processes over 40 million daily transactions with SOL-denominated TVL reaching an all-time high of 80 million SOL in early 2026, supported by institutional adoption from Goldman Sachs and BlackRock. Cathie Wood of ARK Invest compared Hyperliquid to early-stage Solana in late 2025, but the two protocols serve fundamentally different markets and carry distinct risk and diversification profiles for participants. In May 2026, Hyperliquid’s fully diluted valuation briefly overtook Solana’s, reaching $56 billion compared to $50 billion. A single-application blockchain outvaluing a general-purpose ecosystem forced reassessment of how markets price crypto infrastructure.
This article examines architecture, revenue models, ecosystem breadth, and risk profiles to determine what each chain actually offers.
Architecture: Specialized vs. General Purpose Hyperliquid runs on its own Layer 1 blockchain using HyperBFT, a custom consensus algorithm inspired by HotStuff and optimized for low-latency, high-throughput financial applications. The chain supports approximately 200,000 orders per second with a 0.07-second block time and sub-second finality.
Every order, cancellation, trade, and liquidation executes onchain. The network comprises HyperCore for specialized trading applications and HyperEVM for Ethereum-compatible smart contracts.
Solana uses Proof of Stake combined with its proprietary Proof of History mechanism, processing over 40 million daily transactions. The network hosts a full spectrum of applications, from Jupiter’s $1.2 billion daily DEX volume to Kamino’s $1.48 billion lending protocol.
The architectural difference is fundamental. Hyperliquid optimized every stack layer for high-frequency derivatives. Solana is optimized for breadth, trading off single-application performance for general smart-contract flexibility. This mirrors traditional finance, where specialized venues like CME coexist with general-purpose infrastructure.
ARK Invest CEO Cathie Wood stated on the Master Investor podcast in late 2025 that Hyperliquid “reminds me of Solana in the earlier days,” calling it “the new kid on the block.” The comparison captures trajectory similarity but obscures the structural difference between these platforms.
Revenue Models and Token Value Capture Revenue mechanics represent the starkest divergence between these ecosystems. Hyperliquid charges taker fees of 0.045% and maker fees of 0.015% on its perpetual order book. Approximately 97 to 99% of resulting protocol revenue flows through the Assistance Fund, which executes automated buybacks of HYPE tokens on the open market, according to multiple 2026 analyses.
Cumulative protocol revenue has surpassed $1 billion, with an annualized run rate near $830 million. Solana generates approximately $6.8 million per day in ecosystem fees, but most flows to individual applications.
Network-based fees are fractions of a cent. The value proposition for SOL holders is indirect: staking rewards and the option value of an expanding ecosystem.
Data from Nexo Research illustrates the efficiency gap. Hyperliquid generated $844 million in revenue in 2025 from a single product. Solana’s $1.3 to $1.4 billion came from hundreds of applications.
Analysis: Hyperliquid’s buyback model creates a tight feedback loop between activity and token demand. Solana’s diffuse model distributes value broadly but lacks a comparable concentration mechanism. This makes Hyperliquid more attractive during bull markets but more fragile during downturns.
Ecosystem Breadth and Risk Diversification Solana’s architecture has produced a broad ecosystem. DeFi TVL reached approximately $5.1 billion by mid-2026. Institutional adoption accelerated with Goldman Sachs disclosing $108 million in SOL ETF holdings and BlackRock’s BUIDL fund clearing $550 million on the network.
The developer ecosystem supports roughly 4,000 active developers. SushiSwap migrated to Solana in early 2026, and Jupiter evolved from a DEX aggregator into a comprehensive financial platform with lending and stablecoin issuance.
Hyperliquid’s ecosystem is intentionally narrower. The HyperEVM hosts approximately 243 protocols with $1.5 billion in TVL, but the core perpetuals exchange dominates economic activity.
The protocol controls 66 to 73% of all decentralized perpetual futures flow, processing roughly $50 billion in weekly volume. Product expansion into binary options trading via HIP-4 and permissionless perpetual market creation via HIP-3 diversifies the product suite while remaining within the derivatives vertical.
Solana’s breadth provides multiple segments to absorb downturns. Hyperliquid’s revenue concentration in perpetual futures makes it highly cyclical. With only 27% of HYPE supply in circulation, token unlock events such as the July 2026 release of 9.9 million tokens, worth approximately $645 million, introduce supply-side pressure.
Regulatory Implications Both protocols face regulatory exposure, but through different vectors. Solana’s growing institutional adoption through ETFs and tokenized securities places it squarely within SEC and CFTC oversight frameworks.
Hyperliquid’s derivatives-focused model operates in a regulatory gray zone, as decentralized perpetual futures trading remains largely unregulated in most jurisdictions. The Digital Asset Market Clarity Act could affect the classification of tokens and services for both protocols.
What’s Next? Solana’s Firedancer client upgrade, continued ETF adoption, and the expansion of tokenized real-world assets on the network represent near-term catalysts.
Hyperliquid’s trajectory depends on sustaining growth in trading volume, absorbing token unlocks without significant price dilution, and fending off competition from Aster and emerging Solana-based perpetual venues.
Both ecosystems are expanding, but toward different destinations. The market may value them side by side, but they are not playing the same game.
FAQs What is the main difference between Hyperliquid and Solana?
Hyperliquid is a purpose-built Layer 1 optimized for perpetual futures trading, while Solana is a general-purpose blockchain hosting thousands of diverse applications across DeFi, NFTs, and payments.
Which has higher trading volume?
Hyperliquid processes approximately $50 billion in weekly perpetual futures volume, while Solana’s DEX ecosystem handles billions in daily spot trading volume across multiple decentralized exchange protocols.
How do their revenue models compare?
Hyperliquid directs 97-99% of protocol fees toward token buybacks, creating direct value accrual, whereas Solana’s fees are distributed across individual applications, with minimal direct flow to SOL holders.
Is Hyperliquid riskier than Solana?
Hyperliquid carries higher concentration risk due to revenue dependence on perpetual futures and significant upcoming token unlocks, while Solana’s diversified ecosystem provides more downside resilience across cycles.
What did Cathie Wood say about Hyperliquid?
ARK Invest CEO Cathie Wood compared Hyperliquid to early-stage Solana on the Master Investor podcast in late 2025, citing trajectory similarities while noting ARK does not hold HYPE tokens.
Can Solana compete with Hyperliquid in perpetual futures?
Solana hosts six perpetual trading venues, but Hyperliquid commands 66 to 73% of decentralized perpetual futures volume, a dominance gap that multiple Solana protocols are actively trying to close.
Which ecosystem has more institutional adoption?
Solana leads in institutional adoption with Goldman Sachs and BlackRock exposure, ETF products, and traditional finance integrations, while Hyperliquid attracts institutional trading flow through execution quality.
References Hyperliquid vs. Solana: The Battle for Liquidity King in 2026 (CryptoNews, May 2026) Hyperliquid vs Solana: Are They Really the Same? (Nexo Blog, May 2026) Solana perps venues compared against Hyperliquid in new analysis (CryptoBriefing, May 2026) Better Crypto Buy: Solana vs. Hyperliquid (The Motley Fool, July 2026)
Solana Mobile continues to spoil Seeker users, unveiling yet another mouth-watering slew of benefits, boosts, bonuses, and rewards.
Highlighting some of the best new apps the dApp Store has to offer, Seeker Summer will run until the end of August. Users can expect everything from free Gacha pulls and collectible badges to live interviews with the Seeker ecosystems top-founders.
Seeker Summer comes as $SKR continues to proliferate across the crypto economy, with hundreds of apps, DeFi protocols, and exchanges integrating the token.
What to Expect from Seeker Summer Alongside a renaissance of onchain activity across the network, Seeker Summer is bringing a renewed sense of excitement and curiosity in the Solana dApp store. Starting July 7, Seeker Summer showcases some of the ecosystem’s most promising dApps, with boosts, bonuses and additional rewards helping users to get the most out of their onchain activity.
Seeker Summer kicks off with a collaboration with Collector Crypt, Solana’s fastest-growing consumer application. When buying a Seeker device with Solana Pay, new owners can get 20% off their purchase price when paying in $SKR, alongside a free $50 gacha spin.
As Seeker Summer progresses, Solana Mobile will highlight featured apps from within the Seeker ecosystem. Across four two-week rounds, users will be able to complete quests in their favorite applications, collecting badges and enjoying rewards throughout the duration of the event.
As each round begins, spotlighted apps will be steadily unveiled on a day-by-day basis. Once all apps in a round have been revealed, users will have eight days to complete quests and earn badges before the next round begins.
Seeker dApp Launches Trend Upwards While general sentiment towards blockchain is floundering, onchain data suggests that crypto-native builders are heads down shipping harder than ever. According to Blockworks, the Solana dApp store now plays host to over 1,670 apps, with the development trajectory showing no signs of slowing down.
The wildfire growth of apps in the Solana dApp Store is largely driven by the platform’s unrivalled distribution. Developers across the ecosystem have remarked that their applications gain significant traction following their launch in the Solana dApp Store, which boasts an active, engaged, and financially-motivated userbase.
Many developers report onboarding hundreds of users to their applications within one day of launch, reinforcing the belief that Seeker owners are some of crypto’s most active and engaged users.
The $SKR Economy Uniting a thriving ecosystem of applications, $SKR is the lifeblood of the Seeker economy. While $SKR is primarily used as a governance token guiding the growth and expansion of the Seeker ecosystem, the token is becoming more widely integrated across the crypto industry.
Dozens of popular platforms like refineORE, Sp3nd, and ClashofPerps have integrated $SKR into their applications, expanding the utility of the asset beyond contributing to Seeker governance.
Beyond novel apps, $SKR is also tradable across many of crypto’s biggest centralized exchanges, like Kraken, Coinbase, and ByBit, and is also listed on leading perps venues like Phoenix.
To keep track of all the featured apps and rewards running throughout Seeker Summer, visit SolanaFloor’s Seeker Hub. Additionally, users can tune into SolanaFloor’s Seeker-centric livestream show, Shipped, to hear directly from the founders and builders shaping the Solana dApp Store's most popular protocols.
Read More on SolanaFloor $PUMP unlocks loom large over markets
Pump Leads DEX Volume Across All Chains Ahead of $135M Token Unlocks
FUNToken continues to make access to its growing ecosystem more convenient by expanding the range of supported deposit assets. Users can now purchase $FUN using BONK (Solana) through the platform’s seamless deposit process.
With this latest addition, BONK (Solana) joins the growing list of supported assets, giving users another simple and efficient way to acquire $FUN. Deposits made with BONK are automatically converted into $FUN with 0% conversion fees, eliminating the need for manual token swaps or additional conversion steps.
A Simpler Way to Access the $FUN Ecosystem FUNToken is committed to creating a frictionless experience for users entering the ecosystem. The addition of BONK (Solana) further expands the available deposit options while maintaining the same straightforward process that users have come to expect.
By depositing BONK (Solana), users receive $FUN automatically, allowing them to begin participating in the ecosystem without unnecessary complexity.
Key benefits include:
Automatic conversion from BONK (Solana) to $FUN 0% conversion fees No manual token swaps required A fast and seamless deposit experience Expanding Access Through Greater Flexibility As the FUNToken ecosystem continues to grow with $FUN mobile games, staking opportunities, community rewards, and new platform features, providing users with more ways to acquire $FUN remains a key priority.
The addition of BONK (Solana) reflects FUNToken’s ongoing commitment to improving accessibility while giving users greater flexibility in how they participate in the ecosystem.
About FUNToken FUNToken powers a growing Web3 gaming ecosystem designed to make digital rewards more accessible and engaging. Through $FUN Games, staking, community incentives, and an expanding range of supported assets, FUNToken continues to simplify how users participate in the ecosystem while creating more opportunities to play, earn, and engage.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
Michelle DG
Michelle is an editor at CoinCentral & Blockonomi, covering the latest trends in crypto, blockchain, and digital finance. With a sharp eye for detail and a passion for emerging technologies. [email protected]
BonkDAO lost about 20 million dollars on Monday following a governance attack that the team describes as malicious. An adopted proposal allowed transferring 4.4 trillion BONK tokens to the address of a suspected attacker. Will investigators be able to recover the funds?
In Brief: BonkDAO lost $20 million in a malicious governance attack on July 6, 2026. The approved proposal, dubbed “Sowellian BonkDAO,” resulted in 4,400 billion BONK tokens being sent to a suspected attacker. Kraken and Upbit suspended BONK deposits and withdrawals following the incident. How did the governance attack drain the treasury on Solana? The incident occurred around 4 AM Eastern Time on Monday, amidst the buzz around memecoins on Solana. More than 4.4 trillion BONK tokens, worth about 19.3 million dollars at the time of writing, left BonkDAO’s treasury wallet.
The protocol uses an on-chain voting system to validate its governance proposals. This architecture, designed to decentralize decisions, allowed the attacker to have their text adopted without centralized human intervention.
Improvement proposal number 76, titled “Sowellian BonkDAO”, notably planned to “rebuild from its ashes” and reward favorable voters. However, BonkDAO confirmed on X that the suspicious address, funded by a Bybit account according to Solscan, did not redistribute any tokens.
The token was then transferred further. Around 3:30 PM Eastern Time, the funds reached a second Solana address ending in “eh42”.
What are the consequences for exchanges and the BONK price? Upbit and Kraken reacted quickly. Both platforms suspended BONK deposits and withdrawals as soon as the incident was announced.
The South Korean platform justified its decision by measures to protect users after a security incident. Moreover, BonkDAO says it is collaborating with law enforcement and Solana ecosystem cross-chain bridges to trace the funds.
At the same time, the incident renews the debate on the security of on-chain votes in crypto DAOs. Several projects have already suffered similar attacks, usually through the massive purchase of governance tokens before a key vote.
The token dropped about 7% in 24 hours, around 0.0000043 dollar. However, this level remains 93% below its all-time high of 0.000058 dollar.
BONK reached this peak in December 2024, during the memecoin boom on Solana. At that time, the token was among the top 100 cryptocurrencies by market capitalization.
BonkDAO promises regular communication as the investigation progresses. Holder confidence will now depend on the project’s ability to recover the funds. Other crypto DAOs might nonetheless review their voting mechanisms after this governance flaw.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
According to official announcements, blockchain analytics platform Nansen has officially launched Hyperliquid Perpetual (Perp) trading functionality, now available to all web and mobile users. Users can execute Hyperliquid perpetual trades directly within Nansen while tracking on-chain activities of Smart Money, whale addresses, and prominent investors, with real-time access to key metrics including funding rates, long-short position ratios, and wallet-level position distributions—enabling an integrated "research-to-trade" experience. Nansen added that the platform has also launched the Hyperliquid Perps Leaderboard, which supports filtering by Smart Money, whales, and top traders, and sorting by performance over the past 7 days, 30 days, or all-time, helping users quickly identify top-performing wallet addresses. Additionally, users can deposit funds from external wallets within the app, bridge assets from connected Solana or Base wallets to Hyperliquid, and receive asset transfers directly from other Hyperliquid addresses. Beyond trading features, Nansen has expanded its data coverage of the Hyperliquid ecosystem, including on-chain activity monitoring for HyperFND and the Hyperliquid Data API. Users can track real-time active HyperEVM addresses, contract deployments, and ecosystem growth, while development teams can access real-time Smart Money perpetual positions, unrealized profit and loss (PnL), account health, full transaction history, and performance data via the API—supporting quantitative analysis, strategy development, and application building.
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The Belgian Football Association has publicly said it is “astonished” by FIFA’s reversal, hinting at formal complaints if the decision ends up disadvantaging their squad.
The red card reversal that broke the internet Balogun picked up a straight red in the US victory over Bosnia and Herzegovina, a decision reviewed by VAR during the match. Under normal FIFA rules, that’s an automatic one-game ban, which would have sidelined him for the Belgium fixture. FIFA chose to suspend that ban, effectively clearing Balogun to play.
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Jordanian referee Adham Makhadmeh will lead the officiating crew, with Khamis Al-Marri from Qatar handling VAR duties.
Adding another layer of intrigue: the previous match’s referee, Brazil’s Raphael Claus, has reportedly faced scrutiny related to a match-fixing inquiry.
Prediction markets and meme tokens enter the chat Prediction markets have seen a minor flurry of activity tied to the Balogun situation. Traders are placing bets on everything from match outcomes to whether Belgium will file a formal protest.
Solana has seen new tokens emerge specifically tied to Balogun’s World Cup performance. These meme tokens and prediction market bets represent a niche corner of the ecosystem, not a structural shift.
What this means for crypto investors For traders considering the meme token angle, the risk profile is about as straightforward as it gets. These tokens are pure speculation with zero underlying utility. They tend to spike on social media virality and collapse once the news cycle moves on. Anyone buying a Balogun-themed Solana token should treat it as entertainment spending, not an investment thesis.
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TLDR: BONK faces renewed scrutiny after BonkDAO confirmed a malicious governance proposal drained about $20 million from its treasury. The attacker reportedly spent about $4.4 million buying BONK tokens to gain enough voting power for the proposal. The vote passed through the DAO’s own governance process, meaning the attack did not rely on a smart contract exploit. BONK price action weakened after the drain, with the token trading below major moving averages and facing resistance near $0.00000445. BONK faced fresh selling pressure after BonkDAO confirmed a malicious governance proposal drained about $20 million from its treasury. The incident took place on July 6, 2026, and exposed a weak point in token-weighted voting systems. BonkDAO said the attacker used a proposal to move treasury funds into a wallet they controlled.
The move did not involve a smart contract exploit. Instead, the attacker used the DAO’s own rules to pass the vote. BONK traded near $0.00000442 after the incident, with an intraday low near $0.00000414.
Source: solscan.io BONK Treasury Drain Shows DAO Voting Risk BonkDAO described the incident as a malicious governance proposal that drained an estimated $20 million in BONK tokens. The project said it identified exchange wallets used to buy tokens before the proposal. It also said it was working with exchanges, bridges, the Solana Foundation, and law enforcement.
BonkDAO was the target of a malicious governance proposal resulting in an estimated $20M worth of BONK tokens being drained from the BonkDAO treasury.
During the investigation, BonkDAO identified the exchange wallets used to purchase BONK ahead of the proposal. BonkDAO is…
— BONK!!! (@bonk_inu) July 6, 2026
The attacker reportedly built voting power over several days. Onchain reports said the wallet spent about $4.4 million buying BONK before the vote. That stake gave the attacker enough influence to push the proposal past quorum.
The proposal then transferred about 4.43 trillion BONK from the treasury. The vote passed with only a small number of active wallets involved. Most DAO members did not take part, which left the treasury exposed to a concentrated vote.
The attack stands out as it used valid transactions. The buying, voting, and treasury transfer all moved through the governance system. That makes the case different from a front-end hack or direct wallet drainer.
In March 2026, Bonk.fun faced a separate website-related incident. Attackers used a fake signing flow to target users. This time, no individual user wallets were drained. The target was the DAO treasury itself.
BONK Price Weakens as Governance Attack Hits Confidence BONK price action weakened after news of the treasury drain spread. The token’s market value fell below the $500 million area, while trading volume rose sharply. That mix pointed to heavy speculation and fading short-term confidence.
Technical pressure also stayed visible. BONK traded below its 20-day, 50-day, and 200-day moving averages. The token faced resistance near $0.00000445, while short-term forecasts pointed to a possible range between $0.00000352 and $0.00000548.
Source: Coingecko The governance attack also revived a wider debate across DAOs. Token-weighted voting can expose treasuries when quorum levels sit too low. A wealthy attacker can buy enough influence, pass a proposal, and exit after execution.
This risk is not new, but the BonkDAO case shows how fast it can hit a major memecoin treasury. Many DAO systems focus on smart contract safety. Governance settings now need the same level of review.
Projects may respond with longer timelocks, higher quorum rules, and emergency multisig controls. Time-weighted voting could also reduce the risk of last-minute token accumulation. For BONK, the next focus is fund tracing, exchange cooperation, and whether any treasury assets can be frozen or recovered.
Key Highlights SOL declined 1.7% but maintained stability above critical support zones as BTC and ETH ETFs experienced capital withdrawals Spot Solana ETFs in the United States attracted $5.75 million in net capital during this timeframe Non-vote transaction volume exceeded 1 billion on a weekly basis, marking a historic first for the network Active wallet addresses jumped from 16.8 million to 29.7 million over a 14-day period The network claimed the top position among all Layer 1 and Layer 2 platforms for decentralized application revenue and DEX trading volume Solana (SOL) experienced a 1.7% decline, settling near the $79–$80 range throughout the most recent tracking period, mirroring Bitcoin’s 1.65% downturn. The broader cryptocurrency market capitalization contracted 1.47% to reach $2.14 trillion. However, SOL successfully defended critical support thresholds despite the downward pressure.
Solana (SOL) Price The digital asset remains approximately 73% beneath its record peak of $294.33, achieved on January 19, 2025.
The notable development this week centered on Solana’s contrasting ETF performance relative to broader market trends. Spot Bitcoin ETF products registered $527 million in net capital outflows from June 29 through July 2 — marking their eighth consecutive week of redemptions. Spot Ethereum ETF vehicles shed $13.67 million over the identical period.
Source: SoSoValue Solana demonstrated opposite momentum. U.S.-listed spot SOL ETF products captured $5.75 million in net capital inflows. XRP ETF vehicles accumulated $17.19 million, while HYPE ETF products gathered $4.32 million.
Network Metrics Reach Unprecedented Levels Blockchain utilization achieved a groundbreaking benchmark during the previous week. SolanaFloor validated that weekly non-vote transaction counts surpassed one billion for the first occasion in the network’s existence. These transactions represent authentic user engagement, application interactions, and trading operations — excluding validator consensus votes — establishing this as a significant indicator of legitimate network activity.
Crypto analyst Michaël van de Poppe provided commentary on Solana’s technical positioning. He indicated the fundamental thesis for $SOL remains consistent — the asset is re-entering its trading range with expectations for minor retracement before upward momentum resumes. He emphasized the importance of maintaining $75–$77 as foundational support, suggesting that successful defense of these levels could propel movement toward $100 and potentially $120 throughout the upcoming weeks and months.
The theory on $SOL remains the same.
It's breaking back into the range, and having a slight pullback before upwards continuation is on the board.
I'd want to see $75-77 hold as support.
If that holds, we'll be seeing a continuation towards $100 and most likely $120 over the… pic.twitter.com/aIuDdIjnpC
— Michaël van de Poppe (@CryptoMichNL) July 5, 2026
Active wallet addresses experienced dramatic expansion, ascending from 16.8 million to 29.7 million within a two-week window — representing approximately 76.8% growth. Solana additionally secured first-place rankings among all Layer 1 and Layer 2 blockchain platforms for both 24-hour and seven-day decentralized application revenue metrics, while commanding DEX volume leadership across matching timeframes. Polygon, Ethereum, Base, BNB Chain, and Hyperliquid trailed behind.
Technical Analysis Shows Consolidation Between Key Levels Regarding trading activity, Solana secured second-place globally for the consecutive second week, facilitating $12.25 billion across centralized and decentralized exchange platforms. This performance exceeded Bybit’s $10.57 billion, although Binance maintained overall market leadership.
Examining the daily timeframe, SOL trades above its 20-, 50-, and 100-day moving average indicators. The MACD histogram sustains bullish positioning, despite momentum cooling following the previous week’s 15% advance.
The RSI indicator on the four-hour timeframe registered readings near 51–53, reflecting neutral directional momentum. The Supertrend indicator positioned below current price action around $78.30. Near-term resistance clusters approximately at $84–$85, whereas support structures at $78 and $76 represent critical monitoring zones.
The most recent trading price at publication time measured approximately $80.34.
As Q3 rolls out, blockchain infrastructure is entering its biggest coordinated transformation to date. It includes rising institutional demand rather than another race for retail adoption.
More than $30 billion in RWA now sits on public blockchains, exposing weaknesses in existing networks.
Source: RWA.xyz Throughput, settlement speed, compliance, and reliability have become immediate priorities. Therefore, major blockchains are redesigning their foundations instead of relying on incremental upgrades.
Ethereum [ETH], Solana [SOL], Base, and Avalanche [AVAX] each target different bottlenecks through protocol-level improvements.
However, they share the same objective of supporting institutional-scale financial activity. This synchronized rebuild signals that infrastructure quality is becoming the industry’s main competitive advantage.
As deployments continue through 2026 and 2027, capital, developers, and liquidity will increasingly favor networks that execute these upgrades successfully.
How major blockchains are rebuilding for institutional finance The upgrade process has evolved beyond faster and better speeds. The need for greater reliability as an institutionally viable option was brought forth by institutions and banks. Institutions have come to expect and therefore demand predictable settlement times, regulatory compliance, and uninterrupted execution.
That expectation has highlighted weaknesses in all areas of current decentralized networks.
Hence, rather than simply applying patches or making incremental changes, many of the major decentralized networks are being redesigned at the foundation level.
Ethereum is leading that transition.
Development on Glamsterdam accelerated in late 2025 before active devnets launched in early 2026. The mainnet version will be deployed in H1 2026. The upgrade will raise gas limits from approximately 60 million to 200 million.
Notably, it introduces PBS (pre-blocked state). This will be enshrined in the Ethereum codebase, as well as block-level access lists. Both of these enhancements will provide increased settlement capabilities while preparing Ethereum to run parallel executions as per the Lean roadmap.
In contrast, Solana is solving a different challenge.
Alpenglow went into the production phase during 2025 and then proceeded through test nets in Q1 to Q2 2026. Solana plans to deploy Alpenglow on the mainnet in H2 2026.
Source: BCW Research Unlike Ethereum’s approach of initially enhancing its capacity, Solana is redesigning its consensus mechanism. Finality time decreases from 12.8 seconds down to about 100-150 ms.
Beyond reducing finality, Alpenglow removes vote transactions that currently consume nearly 75% of Solana’s network resources. These improvements should enhance the reliability of Solana during periods of prolonged institutional utilization.
Building infrastructure beyond speed Once settlement and execution improve, infrastructure must support regulated financial activity. This new requirement has caused a shift in focus from development, deployment, and programmability towards compliance.
Base began developing Beryl in late 2025, with deployment scheduled for Q3 2026.
In addition to creating better ways to sequence information and provide access to this information via Beryl, it also includes a standardized form of tokens called the B20 token standard.
Source: Base on X This standard can include stablecoins issued under regulatory conditions, tokenization of other types of assets, and equity issuance using compliant mechanisms built into the protocol.
Octane on Avalanche was ramped up during the first quarter of 2026 after the Etna upgrade. Deployments continue to occur from the middle of Q2 through to Q3 of 2026.
Octane upgrades allow for greater transaction processing speeds while decreasing the cost of deploying an enterprise application. These advancements have made it possible to create an institutional blockchain specifically designed to operate for extended periods of time.
Source: AVAX.network While Bitcoin [BTC] represents the most conservative path within the industry, OP_CAT (Opcode Concatenate) gained significant traction during 2025. The larger community continues to test OP_CAT through 2026. Activation of OP_CAT is predicted to occur by either late 2026 or early 2027.
Rather than redesigning Bitcoin, OP_CAT expands scripting while preserving its security model. Together, these timelines show institutions are no longer demanding faster blockchains alone. They increasingly require infrastructure built for long-term financial activity.
Scaling for institutional demand The infrastructure race now enters its most important stage.
Technical upgrades alone will not determine long-term leadership because institutions ultimately allocate capital based on proven execution.
Although every major network is strengthening scalability, compliance, and reliability, adoption continues favoring ecosystems already supporting regulated financial activity.
Ethereum retains the largest share of tokenized assets and stablecoin issuance, benefiting from mature compliance standards, deep liquidity, and established settlement infrastructure.
Base further strengthens that advantage through its compliant token framework, simplifying regulated asset issuance.
Meanwhile, Solana continues narrowing the gap through stronger stablecoin growth and improved finality, while Avalanche attracts institutions seeking dedicated blockchain environments.
Those improvements broaden competition without immediately displacing existing leaders.
As these upgrades move from deployment to production throughout 2026 and 2027, institutions will increasingly judge networks by operational resilience rather than theoretical performance.
The blockchain that consistently delivers reliable settlement, regulatory compatibility, and uninterrupted service during periods of market stress is likely to attract the greatest share of future tokenized capital, regardless of which network processes transactions the fastest.
Final Summary Blockchain infrastructure upgrades, led by Ethereum [ETH], are shifting competition toward institutional readiness instead of transaction speed. Blockchain networks, including Ethereum, will increasingly compete on reliability, compliance, and real-world institutional adoption.
South Korea’s leading cryptocurrency exchanges, Upbit, Bithumb, and Coinone, have announced they have added the Solana-based memecoin Bonk (BONK) to their delisting watchlist. This decision raises questions about BONK’s future in the South Korean market and serves as a significant risk warning for investors.
Exchanges have announced that BONK has been added to a “delisting watchlist.” Such lists typically indicate that the asset will be more closely examined in terms of its project structure, market performance, liquidity, regulatory risks, or investor protection. The review process may result in the token continuing to be traded, or it may be delisted entirely from exchanges.
The fact that major South Korean platforms with high trading volumes, such as Upbit, Bithumb, and Coinone, are simultaneously taking a similar step for BONK increases the significance of this development for the market. This is because South Korean exchanges can sometimes have a decisive influence on trading volume and price movements, especially in the altcoin and memecoin markets.
Bonk has emerged as one of the best-known memecoin projects in the Solana ecosystem, attracting attention with its strong price increases in the past. However, the inherently high volatility of memecoins can lead to closer monitoring by exchanges. Its inclusion in the delist watchlist indicates that BONK is now considered to be in a higher-risk category.
Experts say that in such situations, investors should focus not only on price movements but also closely monitor official announcements from exchanges, the reasons for the review process, and potential delisting schedules. While BONK’s inclusion on the watchlist is considered a development that could create selling pressure on the token in the short term, the final decision will depend on the exchanges’ subsequent review results.
*This is not investment advice.
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PYTH gained more than 25% over the past week, outperforming most large-cap altcoins. The Pyth Core upgrade on July 31 ends free, permissionless access to the network’s price feeds. All subscription revenue flows to the Pyth DAO, which funds monthly open-market token buybacks. Santiment ranks Pyth among the top three Solana ecosystem projects by development activity. Pyth Network’s native token has climbed more than 25% over the past seven days, trading around $0.045 with a market capitalization of $355 million, according to CoinMarketCap data. The rally comes three weeks before the Pyth Core upgrade goes live on July 31, a structural overhaul that ends the network’s free price data model and replaces it with paid subscriptions whose revenue feeds directly into PYTH buybacks. he timing invites an obvious reading – traders positioning before the deadline – though the move also coincides with a broader altcoin rotation, so the upgrade cannot claim sole credit. What the pace does show is acceleration: 12% of the gain arrived in the past 24 hours alone.
The end of free data Any developer has been able to pull Pyth’s price data free of charge since 2021, an arrangement that ends this month. According to the official Pyth Network blog, accessing any Price Feeds API after July 31 will require an active paid plan and an API key managed through the Pyth Terminal.
Pricing follows a tiered structure: the entry-level Starter Plan covers crypto prices, NAV data, redemption rates and indices, traditional asset classes sit in separate brackets, and institutions that want everything pay a flat monthly rate at the top of the scale.
Plan Coverage Monthly price Starter Crypto, NAV, redemption rates, indices $500 Individual asset classes US equities, futures or FX, per bracket $2,500 – $6,500 Full access All asset classes $10,000 The team stresses that API endpoints stay identical, so protocols built on Pyth since 2021 will not face broken integrations. The infrastructure serving those endpoints is another matter. Core feeds merge into the same scaling technology that powers Pyth Pro, which the project says reduces latency, improves price accuracy and expands symbol coverage well beyond the current catalog.
Three moving averages down, one barrier left The 4-hour PYTH/USDT chart from TradingView, based on Binance data, shows the token cutting cleanly through its 50, 100 and 200-period simple moving averages during the latest leg up. Those averages now sit clustered between $0.0361 and $0.0389, well below the current price near $0.0452. When a price trades above all three of these lines, it usually signals that short, medium and longer-term momentum have aligned in the same direction, something PYTH has not managed since its early May local top above $0.062.
The same chart carries a warning for anyone entering at current levels. The Relative Strength Index, an indicator that measures how fast and how far a price has moved, briefly pushed above 80 before settling near 72. Readings above 70 typically describe an overbought market, meaning the asset has risen quickly enough that a pause or pullback becomes more likely in the short term. The candle that tagged $0.048 on July 7 already met sellers, and the price has since retreated about 2%.
Metric Value Price $0.04512 24h change +12.01% 7d change +25.39% Market cap $355.35M 50 / 100 / 200-period SMA $0.0389 / $0.0369 / $0.0362 RSI 72 For traders watching levels, the former resistance band around $0.042, where the price stalled twice in early July, now acts as the first area of potential support. A deeper retracement would bring the moving average cluster near $0.038 back into focus. On the upside, $0.048 remains the barrier that rejected the latest push.
A buyback engine tied to real revenue Every dollar of subscription revenue flows to the Pyth DAO. From there, the Pyth Reserve spends one third of its accumulated treasury balance each month on open-market PYTH purchases, creating a direct link between commercial adoption and buying pressure on the token.
The scale of what becomes billable is not trivial. The network entered 2026 with more than 2,850 active price feeds serving over 650 onchain applications, usage that until now generated no recurring revenue. If even a fraction of those integrations convert into paying subscribers, the DAO treasury grows, and with it the monthly buyback budget.
The supply side makes the rally more notable than the percentage alone suggests. On May 19, Pyth released roughly 2.13 billion tokens from vesting, an unlock worth around $92 million that expanded the circulating supply by more than a third, according to data from Tokenomist. Cliffs of that size usually cap price action for months while the market digests the new float. PYTH instead spent seven weeks basing near its yearly lows and is now climbing into the upgrade with that overhang already behind it.
Some rough arithmetic shows what is at stake. If just 200 of those 650 integrations take the $500 Starter Plan, that is $1.2 million in annual recurring revenue reaching the DAO – modest against PYTH’s $355 million market cap, but recurring. The bull case requires institutional brackets: fifty clients on full access would mean $6 million a year, and a third of the growing treasury converting into monthly market buys. Neither scenario is confirmed, and that is precisely why the first revenue disclosure matters more than the upgrade date itself.
The upgrade also retires older parts of the network. Pyth is deprecating its original Pythnet appchain and winding down Oracle Integrity Staking emissions as data delivery migrates to the newer Pyth Lazer pipeline. Fewer emissions combined with recurring buybacks tilt the token’s supply dynamics toward scarcity, provided the subscription business actually generates meaningful revenue. That remains the open question, and the Core tier has no revenue history yet to test it against – the only disclosed figures so far come from Pyth Pro’s institutional side, which crossed $1 million in annual recurring revenue with a few dozen subscribers.
A hard deadline for builders Teams running infrastructure on Pyth face a hard deadline. Anyone using the standalone Price Pusher to manage on-chain updates must upgrade to version 10.5.0 or later and attach a Hermes access token obtained through the Pyth Terminal, otherwise automated price updates will start failing on July 31, according to the network’s developer documentation. The DAO will handle major contract switches automatically, but new integrations should fetch the updated contract addresses from the Pyth Developer Hub rather than relying on legacy references.
Development data gives the rally support that is independent of the upgrade itself. Santiment Intelligence placed Pyth third among all Solana ecosystem projects by development activity in its latest monthly ranking, behind only Chainlink and Solana itself, based on enhanced GitHub event data. Sustained developer output during a commercial pivot is not a given, and Pyth holding that position suggests the engineering side is keeping pace with the business restructuring.
Broader market rotation is working in the token’s favor too: CoinMarketCap’s Altcoin Season Index has climbed to 49, and capital moving into mid-cap tokens has lifted several oracle and infrastructure names this week. The next real test comes after July 31, when the first subscription figures will show whether the buyback program has meaningful funding behind it or whether the market front-ran a mechanism that still needs paying customers.
The Summer.fi attacker has started buying ETH and mixing it.
According to monitoring by Onchain Lens, a hacker is dispersing and converting 6.017 million DAI into ETH in batches. Each of the hacker's swaps is routed through the same intermediate wallet, which then deposits 10 ETH into TornadoCash each time.
4 minutes ago
Whale Alert: An address shorted SK Hynix in advance as its price pulled back, with its unrealized profit now rising to $2.88 million to rank first.
According to Hyperinsight’s monitoring, a whale address starting with 0xebe currently holds a 10x leveraged short position on SK Hynix (SKHX) worth approximately $17.502 million, accounting for around 53.8% of its total position. This morning, South Korean stocks opened with a sharp pullback, and the short position’s unrealized profit expanded to roughly $2.887 million, delivering a 137% return. It has now become the address with the largest unrealized profit on SKHX on the Hyperliquid platform. From last night to the present, this address has opened a total of 1,242 short orders on SKHX, adding short positions gradually from $1,621 to $1,471. Cumulative trading volume reaches 3,455.04 contracts, worth about $5.2251 million, with a net increase of around 3,449 short positions. Currently, the address only has one SKHX take-profit order placed at $1,435.40, for 300 contracts, with a notional value of approximately $430,600, covering less than 10% of its position. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable the send messages permission) to automatically sync on-chain information.
4 minutes ago
A prominent trader noted that Strategy’s Bitcoin sale via over-the-counter (OTC) trades will exert limited influence on spot prices, with Bitcoin potentially rising to as high as $65,600.
Prominent trader Killa (@KillaXBT) stated that Bitcoin can target $65,600 if it holds its closing level from last week (around $59,000). Additionally, regarding Strategy’s historic sale of 3,588 BTC, Killa explained that the firm did not conduct the sale on the open market but via institutional trades, which helped avoid a major impact on Bitcoin’s price. This partially accounts for Bitcoin’s overnight trend of falling first then rising. Killa, a BTC-focused quantitative trader, 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 and shifted to a long position during the broad market sell-off on June 5.
4 minutes ago
Bitcoin breaks through $64,000 against the trend; trader "Maji" adds to long positions, with weekly profit exceeding $400,000.
Overnight to early this morning, Bitcoin initially dipped then rallied amid negative news of Strategy’s historic sell-off of 3,588 BTC, leading major cryptocurrencies to rebound. According to HTX market data, as of press time, Bitcoin is trading at $64,007.31, up 0.81% in 24 hours; Ethereum stands at $1,797, with a 24-hour gain of 0.51%. Additionally, per HyperInsight monitoring, trader "Maji" added positions throughout the market rebound, with his Ethereum long positions now totaling $17.08 million and a liquidation price of $1,765.32. However, amid the strong market rally, Maji’s profits over the past week have exceeded $400,000.
4 minutes ago
A whale that gradually accumulated 22,567 ETH over the past six months has cut its losses and reduced its positions, suffering losses of over $4 million.
According to on-chain analyst Ai Yi (@ai_9684xtpa), a whale that accumulated 22,567 ETH between November 2025 and July 2026 has allegedly sold 7,347 ETH at a loss of $4.041 million. The address built its ETH position at an average price of $2,338, with a total investment of $52.77 million. Since April this year, it has deposited 8,947 ETH into FalconX in batches, with the most recent deposit made 7 hours ago. If the whale sells all its remaining ETH, its total losses will amount to $4.196 million.
4 minutes ago
YGG’s Web3 game publishing division will be shut down on August 1.
Web3 gaming guild YGG co-founder Gabby Dizon took to Twitter to announce that YGG’s Web3 game publishing arm YGG Play will shut down on August 1, affecting 35 jobs. The company has pledged to provide an additional 8 weeks of pay. Moving forward, YGG will operate with a small core team and partner with gaming communities, selling data to AI labs via gameplay interactions and data training.
Semiconductor stocks beat both Big Tech and crypto in the first half of 2026. The Philadelphia Semiconductor Index gained 102%, while the Magnificent Seven fell 2% and Bitcoin (BTC) lost 33%, according to Deutsche Bank and CoinGecko data.
Wall Street banks now disagree about the second half. Goldman Sachs expects investors to keep backing chipmakers, while Morgan Stanley argues the trade has already started to unwind.
How Semiconductors Beat Big Tech and Crypto in H1 2026Deutsche Bank’s half-year scoreboard ranked the Philadelphia Semiconductor Index as the best-performing major asset in the world. The benchmark gained 102% between January and June, according to a chart shared by Schaeffer’s Investment Research.
Korea’s chip-heavy KOSPI followed with an 89% gain, while Japan’s Nikkei added 35%. In contrast, the Nasdaq rose just 13% and the S&P 500 slightly under 10%.
The Magnificent Seven, the group that carried US markets for two years, ended the half 2% lower.
H1 2026 returns by asset, showing semiconductors beat Big Tech and crypto / Source: BeInCryptoCrypto fared even worse. Bitcoin slid 33% in the first half, falling from roughly $87,500 to below $59,000, CoinGecko data shows. Ether (ETH) dropped 47%, and Solana (SOL) fell 41%. Traditional hedges offered no shelter either, as gold slipped 7% and silver lost 18%.
ETF flows tell the same story. The VanEck Semiconductor ETF climbed 72%, and the iShares Semiconductor ETF gained 99%, while the Roundhill Magnificent Seven ETF declined slightly.
Meanwhile, a shortage of memory and storage has led chipmakers to raise prices as the industry approaches $1 trillion in annual revenue.
SOX vs MAGS / Source: TradingviewGoldman Backs the Earners While Crypto Trades Like a SpenderGoldman Sachs derivatives specialist Brian Garrett explained the divergence in a client note last week, as reported by Stocktwits.
“One of the reasons for the decrease in Mag7 exposure seems almost too simple as it’s been hiding in plain sight for months. The market is rightly rewarding the names that earn (capex beneficiaries, semiconductors, etc) while at the same time questioning the names that spend (hyperscalers).”
Hyperscalers such as Microsoft, Amazon, Meta, and Google pour hundreds of billions of dollars into data centers. Markets increasingly treat that spending as a cost without a proven payoff.
Meanwhile, companies that sell chips, memory, and equipment recognize revenue today.
That logic hits crypto hardest. Bitcoin earns nothing from the AI buildout, so it traded alongside the spenders rather than the earners. The pressure intensified after Michael Burry’s bubble warning sent memory stocks sliding this month.
The same split appeared inside the crypto market. Render (RNDR) gained 17%, and NEAR Protocol (NEAR) added 18% in the first half, while most majors fell over 30%, per CoinGecko. Both tokens sell exposure to computing power, the scarcest resource of this cycle. However, the pattern is not universal, as Bittensor (TAO) and Fetch.ai (FET) still declined.
H1 2026 crypto returns, AI compute tokens vs majors / Source: BeInCryptoBitcoin miners occupy the middle ground. Riot Platforms keeps selling BTC while funding its AI pivot, and rival miners chase similar data center deals.
Morgan Stanley Sees the Chip Trade TurningMorgan Stanley strategist Michael Wilson argued on Monday that chip momentum is fading as investors rotate toward hyperscalers, Bloomberg reported. The Philadelphia index has dropped almost 14% from its June record, though it remains 123% higher since September.
Cracks appeared before July. A blowout Micron forecast failed to sustain the rally, and the KOSPI triggered circuit breakers in June. Wilson, therefore, favors hyperscalers in the near term and expects them to soften spending plans.
JPMorgan strategist Mislav Matejka believes the rally will broaden beyond technology in the second half.
“AI is unlikely to be the only story in town.”
For crypto, this debate matters more than it appears. If capital exits the crowded chip trade and hunts laggards, Bitcoin ranks among the largest liquid laggards available. The token trades near $61,626 after a weekend short squeeze briefly lifted it toward $64,000.
Still, no major bank has named digital assets as the next rotation target. The coming weeks will show whether hyperscaler earnings confirm the turn, and whether any freed capital finds its way back to crypto.
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.
ANSEM's market capitalization hits a new record high, briefly exceeding $440 million.
According to GMGN monitoring data, Solana ecosystem meme coin ANSEM has hit a new all-time high market capitalization, peaking at $449 million, currently trading at $420 million, with a 24-hour trading volume of $51.5 million. BlockBeats Note: Meme coin trading is highly volatile, largely reliant on market sentiment and concept hype, with no actual value or practical use cases. Investors should exercise caution regarding the associated risks.
6 minutes ago
Well-known Ethereum bull James Fickel transfers 20,000 ETH.
According to Onchain Lens monitoring, prominent ETH bull James Fickel transferred 20,000 ETH (valued at $36.19 million) from Coinbase Prime to a new wallet two hours ago. Earlier this June, prior reports noted, Fickel — a well-known Ethereum long bull and crypto investor — moved 10,000 ETH from a Coinbase custodial address to a deposit address, worth roughly $18.62 million at current prices, likely for subsequent trading operations.
6 minutes ago
USDC accounted for around 70% of adjusted stablecoin trading volume in H1, further widening its lead over USDT.
According to on-chain data from Visa, in the first half of 2026, Circle’s stablecoin USDC accounted for approximately 70% of adjusted stablecoin trading volume, further widening its lead over rival Tether’s USDT. In the same period, USDT held a roughly 25% share. The data shows adjusted stablecoin trading volume hit a record $1.79 trillion in June, up 63% from $1.1 trillion in May and 125% from around $795 billion in June 2025. When calculating adjusted trading volume, Visa excludes bot activity, exchange transfers, and other blockchain transactions that do not reflect genuine economic activity. The data release comes as banks and other financial institutions expand their use of stablecoins in payments, settlements, and fund management. Standard Chartered and BNY Mellon recently added services related to Circle’s USDC rather than building their own infrastructure, reflecting that amid rising activity and demand for fiat-pegged digital assets, financial institutions are increasingly leveraging established stablecoin networks. Adjusted stablecoin trading volume totaled $8.82 trillion in the first six months of this year, higher than the full-year 2024 figure of $5.8 trillion, but still roughly $2 trillion lower than the 2025 record of $10.8 trillion. In 2020, USDT once accounted for nearly 90% of adjusted trading volume, while USDC held less than 10%; by 2022, USDC’s share had risen to around 45%.
6 minutes ago
Trump: Short sellers are taking a heavy hit, and I've never liked short sellers.
US President Donald Trump said: "Some short sellers are in deep trouble and are being liquidated. I have never liked short sellers because they are betting against the country."
6 minutes ago
Federal Reserve Governor Waller: The Federal Reserve will not deliberately maintain low interest rates.
Federal Reserve Governor Waller said the Federal Reserve will not deliberately keep interest rates low to help the U.S. government finance its fiscal deficit, noting that it is reasonable to consider setting an inflation target range. Fed Chair Walsh is reaffirming the Fed’s commitment to the 2% inflation target, and favors setting an inflation target range, but adjusting the inflation target at this stage would undermine the central bank’s credibility. (Jinshi)
6 minutes ago
Ethereum breaks through $1,800
According to HTX market data, Ethereum has broken through the $1,800 threshold, posting a 1.4% gain in the past 24 hours.
Traders usually name a market cycle after an asset when bullish sentiment reaches an extreme.
Currently, that seems to be happening with Solana [SOL]. Several traders who were bearish on SOL just weeks ago have now flipped bullish. The sudden shift was so noticeable that it even fueled speculation on social media, with some users questioning whether Solana was paying analysts to push a pro-SOL narrative.
More recently, Ansem added to the buzz by calling SOL undervalued and arguing that it has the potential for a 100x move, citing the network’s ecosystem upgrades and continued growth. The biggest talking point, however, came from another analyst who predicted that SOL could hit $1,000 this cycle, calling the current market phase the “Solana cycle.”
Source: X Technically, that target looks like a stretch.
Solana is still struggling to reclaim the $100 level, so a move to $1,000 this cycle remains a long shot. That said, the on-chain data is telling a different story. Over the past two weeks, the network has added more than 1.6 million new addresses, a sign that user activity continues to accelerate.
Meanwhile, around $120 million worth of SOL has been withdrawn from exchanges over the past week. Growing network activity combined with steady exchange outflows suggests demand is picking up while more holders are moving their tokens off trading platforms, reducing immediate sell-side pressure.
That said, Solana’s biggest growth catalyst may not be network expansion alone. Instead, the real momentum appears to be coming from sector-specific demand, making the idea of a “Solana cycle” heading into H2 less far-fetched than it first appears.
Memecoin demand strengthens Solana’s outlook The memecoin market collapse is becoming a key driver of the 2026 cycle.
According to CoinMarketCap data, the total memecoin market cap has declined by over $10 billion so far this year and remains in the red, reflecting fading interest in meme-based tokens. Notably, this weakness is also visible in the data, with memecoin dominance falling sharply to 3.7%, its lowest level since February 2024.
However, Solana is clearly diverging from the broader market trend. As the chart shows, Solana-based memecoins have been in a steady uptrend since June, with Bonk [BONK] leading the move with over 13%+ gains during the period. Meanwhile, Pump.fun has climbed to the top spot by 24-hour DEX volume, surpassing Uniswap, as memecoin trading activity on Solana picks up again.
Source: CoinGecko In simple terms, Solana network usage isn’t just driven by spot demand.
Instead, growth in new addresses has lined up with strong memecoin momentum on the network, showing that interest in Solana-based memes remains firm even as the broader memecoin market cools. That gives SOL a clear edge in the current setup.
So, while SOL may still be far from a $1,000 rally from a technical standpoint, the underlying demand and activity still support the idea of a “Solana cycle.” That keeps SOL a key altcoin to watch heading into H2.
