Track market-moving stories before they get noisy

Morningstar: Samsung Electronics' revenue expectations may disappoint investors.

Morningstar analyst Jing Jie Yu said investors may feel somewhat disappointed with Samsung Electronics' revenue outlook. He noted that the company’s projected operating profit is in line with market expectations, but its revenue forecast of 171 trillion won is slightly below the consensus. This underperformance is likely due to DRAM price increases falling short of expectations, which may have spooked investors who were increasingly betting on a structural rally in memory chip prices. As investors grew more cautious, Samsung Electronics’ stock closed down 6.9%, trimming its year-to-date gain to just under 150%.

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Citi assigns SpaceX a "Buy" rating, with a target price of $200.

Citigroup initiates coverage on SpaceX (SPCX.O), assigning a Buy rating and setting a target price of $200.

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He Yi: Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders.

Binance co-founder He Yi stated in a social media post that "A key metric I’ve long focused on is the value created for users. Since 2022, Binance Earn has cumulatively distributed over $1.2 billion in yields to stablecoin holders. In the long run, the real opportunity lies not only in providing users with market access, but also in helping them continuously generate value from their assets."

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Strive CEO: No need to sell the company's reserve Bitcoin holdings even if Bitcoin falls to 1 cent.

Strive CEO Matt Cole said in an interview that even if Bitcoin falls to 1 cent and remains at that level for 18 months, Strive will face no issues, does not need to take any action, and will not have to sell a single BTC. No price level will trigger a forced liquidation for Strive.

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US stock storage sector is generally down in pre-market trading, with Western Digital falling more than 6%.

According to BIT (bit.com) market data, the US stock market's storage sector is seeing broad pre-market declines, with Seagate Technology (STX) down 4.96%, Western Digital (WDC) down 6.14%, SanDisk (SNDK) down 5.43%, and Micron Technology (MU) down 5.46%.

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Nansen has integrated Hyperliquid perpetual contract trading, supporting smart money and on-chain data analysis.

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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Key Highlights Table of Contents

Key HighlightsForces Behind the Volume SurgeOUSD Worries Subside as Technical Indicators Remain MixedGet 3 Free Stock Ebooks USDC processed an unprecedented $1.21 trillion in adjusted transactions during June 2026, capturing 67–70% of total stablecoin market activity The entire stablecoin sector achieved record volume of $1.79 trillion in June, representing a 63% increase from the previous month Circle stock advanced 4% on July 2, reaching $66 in pre-market trading on July 6, marking a 3.4% gain ARK Invest purchased $17.8 million worth of Circle shares on July 2, contrasting with Jefferies’ cautionary stance Technical analysis indicates CRCL must surpass $71 to establish bullish momentum; current RSI of 36 signals continued bearish pressure Circle’s flagship USDC stablecoin processed $1.21 trillion in adjusted transaction volume throughout June 2026, surpassing Tether’s USDT by more than double—USDT recorded $573 billion during the same period.

$CRCL — The latest on-chain data shows USDC trading volume climbed to an all-time high of $1.21 trillion in June 2026, officially surpassing its long-time rival Tether (USDT at $573 billion). The print has completely reinvigorated market confidence in USDC’s real network… pic.twitter.com/cWIigRkTFm

— Rich Peter (@peterli34923561) July 7, 2026

According to Visa’s onchain analytics dashboard, USDC commanded approximately 67–70% of aggregate stablecoin volume during the initial six months of 2026. Meanwhile, USDT maintained roughly 25% market share.

The stablecoin industry collectively achieved a milestone $1.79 trillion in adjusted volume during June. This represents a substantial 63% surge from May’s $1.1 trillion figure and more than doubles the $795 billion recorded in June 2025.

Circle’s stock price reflected this performance. Shares appreciated 4% on July 2, closing at $64, before climbing an additional 3.4% during pre-market activity on July 6 to hit $66.

Circle Internet Group, CRCL

The cumulative stablecoin volume for the first half of 2026 reached $8.82 trillion—a figure that already exceeds the complete 2024 annual total of $5.8 trillion, while sitting approximately $2 trillion beneath the 2025 record of $10.8 trillion.

The competitive landscape between USDC and USDT has shifted dramatically in recent years. In 2020, USDT commanded nearly 90% of adjusted transaction volume while USDC represented less than 10%. By 2022, USDC’s share had expanded to approximately 45%.

Forces Behind the Volume Surge Traditional financial institutions are increasingly contributing to this growth. Major players like Standard Chartered and BNY have integrated services centered on USDC instead of developing proprietary stablecoin solutions. This trend illustrates a strategic preference for leveraging existing infrastructure over building new systems.

Grayscale’s research director Zach Pundl characterized June’s figures as the highest stablecoin transaction volumes ever documented.

While USDC leads in dollar volume, Tether maintained an edge in transaction count—processing 145 million transactions compared to USDC’s 57 million in June.

OUSD Worries Subside as Technical Indicators Remain Mixed Circle shares declined to $62 on June 30 following its removal from multiple Russell indexes and amid concerns that the newly launched OUSD stablecoin could capture market share. This decline produced the largest bearish candle since March 2026.

Jefferies issued a research note on July 2 advising clients to avoid purchasing CRCL stock, citing potential threats from OUSD. Nevertheless, the stock advanced from $63 on July 2 to $66 by July 6.

ARK Invest took a contrasting position to Jefferies, acquiring $17.8 million in Circle equity on July 2—the identical day the cautionary note was published.

Concerns surrounding OUSD have subsequently diminished. Samsung and Dunamu, initially identified as OUSD project partners by Open Standard, have publicly distanced themselves from the initiative.

USDC’s market capitalization experienced a modest contraction, declining from $73.75 billion on June 30 to $72.87 billion, indicating some capital rotation following OUSD’s introduction.

From a technical perspective, CRCL must breach the middle Bollinger band at $71 to validate bullish momentum. The Relative Strength Index currently registers at 36, remaining in bearish territory despite the recent recovery from $62.

Should buying activity propel CRCL beyond $71 while pushing the RSI above 50, the upper Bollinger band at $83 emerges as the subsequent price objective.

DECRYPT: Summer.fi's Lazy Summer Vaults Halted Due to $6 Million Exploit to USDC Vaults

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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%.

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USDC now handles 70% of adjusted stablecoin transaction volume as banks like Standard Chartered and BNY build on Circle's network.

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Coindesk reported that USDC extended its lead over Tether's USDT in the first half of 2026, cementing its role as the stablecoin of choice for banks, fintechs, and regulated institutions even as new rivals like OpenUSD raise questions about Circle’s long-term margins.

What's the Scoop?Institutional Adoption Driving the Shift: Standard Chartered and BNY both recently added USDC-based services rather than building their own stablecoin infrastructure. That matters because it shows banks are treating it as the stablecoin rail most ready to plug into existing financial infrastructure for custody, minting, redemption, settlement, and treasury use cases. They're not building their own.USDC’s First-Half Lead: USDC accounted for roughly 70% of adjusted stablecoin transaction volume in the first half of 2026, according to Visa's onchain dashboard, while USDT held about 25%.OpenUSD Concerns: OpenUSD’s launch sparked fears that Circle could face margin pressure from the new stablecoin backed by Stripe, Visa, Mastercard, Coinbase, BlackRock, and others, causing the stock to drop 20%. Yet, the selloff looked overdone: while OpenUSD is pitching free minting and redemption, shared reserve earnings, and governance rights, it still has to build adoption from scratch. USDC already has liquidity, integrations, institutional trust, and growing bank support.Open USD Is Coming for Circle’s Margins on Bankless

The newest major stablecoin consortium is offering businesses a better deal than Circle has. Will Circle be fazed?

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Written by David Christopher

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David is a writer/analyst at Bankless. Prior to joining Bankless, he worked for a series of early-stage crypto startups and on grants from the Ethereum, Solana, and Urbit Foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.

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Stablecoins just had their biggest month ever, and it wasn’t particularly close. Adjusted transaction volume hit $1.79 trillion in June 2026, narrowly eclipsing the previous record of $1.78 trillion set back in February.

The headline number is impressive on its own, but the composition underneath tells a more interesting story. Circle’s USDC accounted for roughly 67% of that volume, or about $1.21 trillion. Tether’s USDT, the longtime king of dollar-pegged tokens, managed around 32% with $576 billion.

In English: for every $3 moving through stablecoin rails in June, $2 went through USDC.

The numbers in context June’s $1.79 trillion represents a 63% jump from May’s $1.1 trillion and a 125% increase compared to the same month last year.

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Zoom out to the full first half of 2026, and the pattern becomes even more stark. USDC commanded roughly 70% of adjusted stablecoin volume across the six-month period, while USDT’s share hovered around 25%.

One important caveat worth noting: these figures come from Visa’s Allium-powered on-chain analytics, which strips out non-economic activity like bot transactions, exchange transfers, and other noise.

As of late June, USDC’s circulating supply stood at approximately $73.7 billion. The total stablecoin market capitalization, meanwhile, exceeded $315 billion. USDC turned over its entire supply roughly 16 times in a single month.

Why USDC is winning the volume war The US has spent the better part of two years building a clearer framework for stablecoin issuers. Circle, as a US-domiciled company that has leaned hard into compliance since its founding, has been the most obvious beneficiary. When banks, payment processors, and corporate treasuries need to move dollar-denominated value on-chain, they’re increasingly reaching for the token that comes with a regulatory seal of approval.

Tether remains the dominant stablecoin by market capitalization and continues to serve as the primary trading pair on many offshore exchanges. USDC’s lead suggests it’s winning the use case that arguably matters more for long-term adoption: payments and enterprise settlement.

What this means for investors For investors evaluating the broader digital asset landscape, the $315 billion total stablecoin market cap serves as a useful barometer. Stablecoins are the on-ramps, off-ramps, and settlement layer for the entire ecosystem.

The USDC-specific angle matters for a different reason. Circle has been positioning itself as the institutional-grade stablecoin issuer, and the volume data suggests that bet is paying off. If and when Circle pursues a public listing, these numbers become the core of the investment thesis: not just supply growth, but velocity and genuine economic utility.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

A HyperSwap user lost about $12,300 after clicking a fake airdrop link on X, approving one wallet request, and unknowingly giving a scammer control of his funds.

BeInCrypto reconstructed the attack with the victim using public blockchain records. The records show a fast phishing operation inside the Hyperliquid ecosystem. 

The scammer took the victim’s position on HyperSwap, withdrew the funds behind it, converted them into HYPE, and moved the money to Ethereum in less than two minutes.

Note: HyperSwap is an exchange that runs on the Hyperliquid blockchain. HyperSwap has its own team, and Hyperliquid does not manage it — just as the creators of Ethereum do not manage applications like Uniswap running on it.

The Trap Started With a Fake X Account The victim used HyperSwap. Like other decentralized exchanges, it lets users trade directly from their wallets without a company holding their funds.

The victim had supplied money to a HyperSwap liquidity pool. In simple terms, he had deposited crypto, so other users could trade against it. In return, he could earn fees.

On HyperSwap V3, that position was represented by NFT #178549. This was not a picture or collectible. It was more like a digital receipt. Whoever controlled that NFT controlled the funds linked to the position.

The victim told BeInCrypto he saw a post on X promoting an airdrop. An airdrop is a token giveaway, often used by crypto projects to reward users.

The Scammer’s Post Using a Fake X Account with a Very Similar Username to the Official HyperSwap Account The post appeared to come from HyperSwap. It did not. It came from an impostor account with a handle that closely resembled the real HyperSwap account, HyperSwapX, which is linked from the project’s official website.

The victim followed the link and connected his wallet. He believed he was checking whether he qualified for the airdrop. Instead, he approved a transaction that gave the scammer permission to move his HyperSwap position.

That approval was the key moment.

One Approval Gave the Scammer Control Crypto wallets often ask users to approve transactions. Some approvals are harmless. Others give another address permission to move valuable assets.

To most users, the warning can look routine. A fake site can make a dangerous approval look like a normal step in claiming tokens.

That appears to be what happened here.

At 20:21:51 UTC on June 29, the scammer used the earlier approval to transfer NFT #178549 out of the victim’s wallet. The victim did not sign anything at that moment. The scammer had already secured permission.

The scammer’s address was 0x880C95246D7525b84902E6c040818a7C72d3Aa77. HyperEVM explorer records flagged it as Fake_Phishing3746335, with a “Phish / Hack” tag reported by HashDit.

The NFT moved to another scammer-controlled wallet. Once that happened, the attacker controlled the liquidity position.

Twenty-five seconds later, the scammer withdrew the funds behind the NFT. The position contained about 3,935 USDC and 116.6 WHYPE. Together, they were worth roughly $12,300 at the time.

Theft transaction in hyperevmscan: On June 29, 2026, the address marked as Fake_Phishing3746335 transferred the victim’s NFT (0x39f2…0f9E) to his wallet The Money Was Moved Fast After withdrawing the funds, the scammer prepared to move them away from HyperEVM.

First, the wallet gave permission to LI.FI, a legitimate cross-chain bridge and swap service. A bridge lets users move crypto from one blockchain to another.

There is no evidence that LI.FI took part in the theft. The scammer used it after stealing the funds.

The scammer then converted the stolen USDC and WHYPE into about 175.9 HYPE. Seconds later, the HYPE was bridged from HyperEVM to Ethereum.

The destination was 0xFa47eef42fB2C63DCEA0cAC2295a58036052932D. On Ethereum, that wallet received the funds and almost immediately moved 7.035 ETH onward in one transaction.

The wallet had been created shortly before. It was used once and left almost empty. That pattern is common in laundering chains, where stolen funds pass through temporary wallets to make tracing harder.

From the NFT transfer to the bridge transaction, the active theft took about 84 seconds.

A Wider Phishing Pattern The scammer’s wallet appeared to be part of a broader operation.

Explorer records reviewed by BeInCrypto showed the address had been active for about 33 days. It was also linked to roughly 25 other addresses. That suggests the attacker may have targeted more than one user.

The link to the fraudulent resource has been hanging in messages since June 26 For victims, the problem is practical. Blockchain records can show what happened. They rarely stop it from happening in real time.

Once a user signs a bad approval, the scammer can act quickly. Once funds move across chains, recovery becomes even harder.

The victim later tried to report the suspicious link and get it removed. He said he felt ignored and began to suspect the HyperSwap team had failed to act.

The on-chain evidence reviewed by BeInCrypto points to a phishing attack from an impostor account. The fake X account was separate from HyperSwap’s official account. The official HyperSwap account and official contract were not shown to have carried out the theft.

However, the victim’s experience highlights a serious weakness in the ecosystem. Users can be attacked through fake social media accounts, drained through confusing wallet approvals, and left with few clear options after the money is gone.

During a conversation with BeInCrypto journalists, the victim stated that they tried various ways to warn the Hyperliquid team about the scam, but received no response.

According to the victim, the only active communication channel with HyperSwap was Discord. At the time of writing, the link to it is invalid. So he tried to get the problem across to the ecosystem team where the project works, but that attempt was unsuccessful.

The screenshot shows our interlocutor trying to reach Hyperliquid support via Discord. In this case, the Hyperliquid command ignores the user’s request to send a message about the found vulnerability and prompts him to contact HyperSwap himself. Overall, the scammer’s method was simple. A fake account promoted a fake airdrop. A fake site secured wallet approval. A flagged phishing wallet took the victim’s HyperSwap position, emptied it, and moved the funds to Ethereum.

The loss was about $12,300. The theft took less than two minutes.

The victim suggested that HyperSwap employees may be involved in the theft or are deliberately hiding it. However, BeInCrypto could not find any exact information to support those claims. 

According to new data published by Visa, the adjusted stablecoin transaction volume soared to $1.79 trillion in June. This marks a staggering 63 percent increase from May’s $1.1 trillion, not only surpassing the previous peak of $1.78 trillion in February but also representing a year-on-year surge of 125 percent. The numbers signal a dramatic growth in stablecoin activity across the sector.

A new all-time high in JuneThe data indicates that stablecoin adoption is expanding well beyond simple crypto trading. Use cases are widening to include payments, decentralized finance applications, and cross-border money transfers. Even as the broader crypto market shows signs of stagnation, the sustained increase in stablecoin transaction volume points to a new central role for these assets in the digital asset ecosystem.

Grayscale’s Head of Research, Zach Pandl, remarked that June 2026 became another record-setting month for stablecoin transaction volumes, surpassing even February’s highs.

Grayscale, a leading digital asset investment firm, frequently stands out with its in-depth institutional analysis. Its research division regularly provides evaluations on capital flows in crypto markets and updates on the evolving infrastructure landscape.

USDC dominates June transaction volumeDespite Tether’s USDT retaining its crown as the largest stablecoin by market capitalization, June’s transaction volume spotlighted Circle’s USDC. Visa’s data illustrates that USDC accounted for $1.21 trillion in transactions — around 67 percent of the total. By contrast, USDT saw $576 billion in volume, securing about 32 percent market share. PayPal’s PYUSD rounded out the top three with $2.42 billion in transactions.

These figures reveal a clear divergence between market capitalization and real-world usage. Which stablecoins are chosen for payments and on-chain liquidity flows provides fresh insight into evolving user preferences and trends within the broader crypto economy.

Base and Ethereum neck and neck for network activityIn June, most stablecoin operations took place on Coinbase’s Ethereum layer 2 network Base, which processed $565 billion — about 31.5 percent of the total volume. Ethereum’s mainnet closely followed at $562 billion, while Tron ranked third with $320 billion, accounting for roughly 18 percent of all transactions measured.

Mini glossary: A layer 2 network is a scaling solution built atop the main blockchain that aims to process transactions faster or more cost-effectively. Base is one such network operating on Ethereum.

Visa, working with Artemis, Allium Labs, and Castle Island Ventures, has refined its calculation methods to filter out high-frequency bot trades, exchange treasury rebalancing, and repetitive smart contract activity. The company emphasizes that this approach is designed to more accurately reflect genuine, organic stablecoin activity.

New launches and institutional interest intensifyingAs competition in the stablecoin market heats up, Open Standard announced the launch of Open USD (OUSD) on Tuesday. The project has reportedly secured backing from more than 140 organizations spanning payments, banking, technology, and crypto — including heavyweights Visa and Mastercard.

Nick Ruck, head of LVRG Research, commented that the record-breaking volume underscores how stablecoins are establishing themselves as foundational infrastructure for value transfer, liquidity provisioning, and decentralized finance — independent from price volatility.

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.

July 6th, 2026 – Panama City, Panama

Deribit by Coinbase, via its broker-dealer DRB Panama Inc., and SignalPlus, a leading provider of software and infrastructure solutions for crypto derivatives, today announced the launch of The Island, their fifth trading competition and biggest edition to date.

Running for 35 days, the competition features up to $600,000 USDC in prizes across solo and team competition, daily and weekly reward rounds, Mystery Box deposit mechanics, short-dated options challenges, and a Private Island jackpot.

Registration for The Island opens on June 29 at 08:00 UTC, with the competition running from July 6 at 08:00 UTC through August 10 at 23:59 UTC. To participate, users must trade through SignalPlus on Deribit. Competition standings will be based on eligible options and futures trading volume only, with options weighted 1.0 and futures weighted 0.5.

The campaign is designed around eleven core arenas spanning weekly volume competition, daily reward loops, team participation, referral-driven expansion, whale and block-trade incentives, and dynamic ecosystem progression in one connected experience. New mechanics in this edition include the Mystery Box deposit experience, a weekly P&L leaderboard, short-dated options reward multipliers, and the Flash Arena, where higher short-dated options volume unlocks more jackpot shots and reward opportunities.

Key Details

Total Prize Pool: Up to $600,000 USDC Registration Period: June 29, 2026, 08:00 UTC – August 10, 2026, 23:59 UTC Competition Period: July 6, 2026, 08:00 UTC – August 10, 2026, 23:59 UTC Eligibility: Open to eligible retail traders on Deribit via SignalPlus Registration Link: https://t.signalplus.com/deribitislandcompetition This campaign is run by DRB Panama Inc and is not targeted at or intended for residents of Dubai, UAE. T&Cs apply. Virtual Assets are subject to extreme market volatility, involve a high degree of risk, and can lose value, in part or in full.

Early Bird Incentives

Users who register by July 7th will receive 3 free Deribit options. Team captains who invite five or more friends to register by July 7th will have a chance to win a Cressi Velvet Wetsuit valued at 300 USDC. Among the first 10 participants to reach 200M in trading volume by July 12, one randomly selected winner will receive two RIMOWA suitcases valued at 5,000 USDC in total. “The Island brings together everything we want this competition to be: bigger scale, stronger participation loops, and a structure that rewards how active options traders actually engage,” said Luuk Strijers, Senior Director from Deribit by Coinbase. “With solo and team competition, short-dated options mechanics and aspirational rewards led by the Private Island jackpot, this is our most ambitious retail trading campaign yet.”“We are excited to partner with Deribit by Coinbase once again on the latest edition of the competition,” said Chris Yu, CEO and Co-Founder from SignalPlus. “The Island is designed to make participation more dynamic and more rewarding, whether traders are competing on volume, teaming up with their network, or engaging through short-dated options and daily missions. Together, we are creating a more immersive experience for sophisticated retail traders.”

Competition Highlights include:

Core Arena: Weekly solo and team trading leaderboards designed to reward notional trading activity across individual and squad-based competition. Mystery Box Deposit Round: Users who register and maintain deposits for seven days unlock Mystery Box draw chances tied to guaranteed USDC prizes and premium rewards. Daily Reward Ecosystem: Daily individual and team missions encourage repeat engagement, with volume-based rewards and team milestone unlocks. Flash Arena: Short-dated options trading powers daily reward multipliers and jackpot-style shooting mechanics, including access to the Private Island reward opportunity. Block Arena: High-balance and block-trade participants can unlock fee rebates and luxury reward opportunities. Expansion Arena: Referral mechanics reward both community growth and successful invitations of higher-value traders. In addition to the Private Island headline reward, this year’s prize pool includes a range of premium rewards such as a Rolex Watch, Apple Vision Pro, NVIDIA Stock, Luxury Turkey Trip, Ledger Stax, Gentle Monster Sunglasses, Razer Keyboard, SOL spot rewards, trading fee coupons, and daily USDC prize pools.

The Island invites participants into a dynamic retail trading competition that combines strategic trading with team-based participation and a tiered reward structure. With every trade, participants move closer to exclusive rewards, from daily USDC prizes to the Private Island headline jackpot. The event begins today.

About Deribit 

Deribit by Coinbase is a centralized, institutional-grade provider of crypto derivatives ecosystem, specializing in Bitcoin and Ethereum options and futures. With state-of-the-art infrastructure, Deribit offers instantaneous price discovery, low-latency execution, advanced risk mitigation tools, and deep liquidity through a network of top-tier market makers. Deribit facilitates the majority of global crypto options volume and upholds rigorous proof-of-reserves practices to maintain the highest standards of integrity and transparency.

About SignalPlus

Signalplus provides trading software and infrastructure for crypto derivatives, helping professional and sophisticated retail traders access options, futures, and spot markets with advanced execution and analytics tools. SignalPlus delivers a comprehensive options trading suite tailored for crypto derivatives traders.

Contact Manager, Retail Sales
Sidrah Fariq
Deribit
[email protected]

 

Panama City, Panama, July 6th, 2026, Chainwire

Deribit by Coinbase, via its broker-dealer DRB Panama Inc., and SignalPlus, a leading provider of software and infrastructure solutions for crypto derivatives, today announced the launch of The Island, their fifth trading competition and biggest edition to date.

Running for 35 days, the competition features up to $600,000 USDC in prizes across solo and team competition, daily and weekly reward rounds, Mystery Box deposit mechanics, short-dated options challenges, and a Private Island jackpot.

Registration for The Island opens on June 29 at 08:00 UTC, with the competition running from July 6 at 08:00 UTC through August 10 at 23:59 UTC. To participate, users must trade through SignalPlus on Deribit. Competition standings will be based on eligible options and futures trading volume only, with options weighted 1.0 and futures weighted 0.5.

The campaign is designed around eleven core arenas spanning weekly volume competition, daily reward loops, team participation, referral-driven expansion, whale and block-trade incentives, and dynamic ecosystem progression in one connected experience. New mechanics in this edition include the Mystery Box deposit experience, a weekly P&L leaderboard, short-dated options reward multipliers, and the Flash Arena, where higher short-dated options volume unlocks more jackpot shots and reward opportunities.

Key Details

Total Prize Pool: Up to $600,000 USDC Registration Period: June 29, 2026, 08:00 UTC – August 10, 2026, 23:59 UTC Competition Period: July 6, 2026, 08:00 UTC – August 10, 2026, 23:59 UTC Eligibility: Open to eligible retail traders on Deribit via SignalPlus Registration Link: https://t.signalplus.com/deribitislandcompetition This campaign is run by DRB Panama Inc and is not targeted at or intended for residents of Dubai, UAE. T&Cs apply. Virtual Assets are subject to extreme market volatility, involve a high degree of risk, and can lose value, in part or in full.

Early Bird Incentives

Users who register by July 7th will receive 3 free Deribit options. Team captains who invite five or more friends to register by July 7th will have a chance to win a Cressi Velvet Wetsuit valued at 300 USDC. Among the first 10 participants to reach 200M in trading volume by July 12, one randomly selected winner will receive two RIMOWA suitcases valued at 5,000 USDC in total. “The Island brings together everything we want this competition to be: bigger scale, stronger participation loops, and a structure that rewards how active options traders actually engage,” said Luuk Strijers, Senior Director from Deribit by Coinbase. “With solo and team competition, short-dated options mechanics and aspirational rewards led by the Private Island jackpot, this is our most ambitious retail trading campaign yet.”

“We are excited to partner with Deribit by Coinbase once again on the latest edition of the competition,” said Chris Yu, CEO and Co-Founder from SignalPlus. “The Island is designed to make participation more dynamic and more rewarding, whether traders are competing on volume, teaming up with their network, or engaging through short-dated options and daily missions. Together, we are creating a more immersive experience for sophisticated retail traders.”

Competition Highlights include:

Core Arena: Weekly solo and team trading leaderboards designed to reward notional trading activity across individual and squad-based competition. Mystery Box Deposit Round: Users who register and maintain deposits for seven days unlock Mystery Box draw chances tied to guaranteed USDC prizes and premium rewards. Daily Reward Ecosystem: Daily individual and team missions encourage repeat engagement, with volume-based rewards and team milestone unlocks. Flash Arena: Short-dated options trading powers daily reward multipliers and jackpot-style shooting mechanics, including access to the Private Island reward opportunity. Block Arena: High-balance and block-trade participants can unlock fee rebates and luxury reward opportunities. Expansion Arena: Referral mechanics reward both community growth and successful invitations of higher-value traders. In addition to the Private Island headline reward, this year’s prize pool includes a range of premium rewards such as a Rolex Watch, Apple Vision Pro, NVIDIA Stock, Luxury Turkey Trip, Ledger Stax, Gentle Monster Sunglasses, Razer Keyboard, SOL spot rewards, trading fee coupons, and daily USDC prize pools.

The Island invites participants into a dynamic retail trading competition that combines strategic trading with team-based participation and a tiered reward structure. With every trade, participants move closer to exclusive rewards, from daily USDC prizes to the Private Island headline jackpot. The event begins today.

About Deribit 

Deribit by Coinbase is a centralized, institutional-grade provider of crypto derivatives ecosystem, specializing in Bitcoin and Ethereum options and futures. With state-of-the-art infrastructure, Deribit offers instantaneous price discovery, low-latency execution, advanced risk mitigation tools, and deep liquidity through a network of top-tier market makers. Deribit facilitates the majority of global crypto options volume and upholds rigorous proof-of-reserves practices to maintain the highest standards of integrity and transparency.

About SignalPlus

Signalplus provides trading software and infrastructure for crypto derivatives, helping professional and sophisticated retail traders access options, futures, and spot markets with advanced execution and analytics tools. SignalPlus delivers a comprehensive options trading suite tailored for crypto derivatives traders.

Contact Manager, Retail Sales
Sidrah Fariq
Deribit
[email protected]

[PRESS RELEASE – Panama City, Panama, July 6th, 2026]

Deribit by Coinbase, via its broker-dealer DRB Panama Inc., and SignalPlus, a leading provider of software and infrastructure solutions for crypto derivatives, today announced the launch of The Island, their fifth trading competition and biggest edition to date.

Running for 35 days, the competition features up to $600,000 USDC in prizes across solo and team competition, daily and weekly reward rounds, Mystery Box deposit mechanics, short-dated options challenges, and a Private Island jackpot.

Registration for The Island opens on June 29 at 08:00 UTC, with the competition running from July 6 at 08:00 UTC through August 10 at 23:59 UTC. To participate, users must trade through SignalPlus on Deribit. Competition standings will be based on eligible options and futures trading volume only, with options weighted 1.0 and futures weighted 0.5.

The campaign is designed around eleven core arenas spanning weekly volume competition, daily reward loops, team participation, referral-driven expansion, whale and block-trade incentives, and dynamic ecosystem progression in one connected experience. New mechanics in this edition include the Mystery Box deposit experience, a weekly P&L leaderboard, short-dated options reward multipliers, and the Flash Arena, where higher short-dated options volume unlocks more jackpot shots and reward opportunities.

Key Details

Total Prize Pool: Up to $600,000 USDC Registration Period: June 29, 2026, 08:00 UTC – August 10, 2026, 23:59 UTC Competition Period: July 6, 2026, 08:00 UTC – August 10, 2026, 23:59 UTC Eligibility: Open to eligible retail traders on Deribit via SignalPlus Registration Link: https://t.signalplus.com/deribitislandcompetition This campaign is run by DRB Panama Inc and is not targeted at or intended for residents of Dubai, UAE. T&Cs apply. Virtual Assets are subject to extreme market volatility, involve a high degree of risk, and can lose value, in part or in full.

Early Bird Incentives

Users who register by July 7th will receive 3 free Deribit options. Team captains who invite five or more friends to register by July 7th will have a chance to win a Cressi Velvet Wetsuit valued at 300 USDC. Among the first 10 participants to reach 200M in trading volume by July 12, one randomly selected winner will receive two RIMOWA suitcases valued at 5,000 USDC in total. “The Island brings together everything we want this competition to be: bigger scale, stronger participation loops, and a structure that rewards how active options traders actually engage,” said Luuk Strijers, Senior Director from Deribit by Coinbase. “With solo and team competition, short-dated options mechanics and aspirational rewards led by the Private Island jackpot, this is our most ambitious retail trading campaign yet.”

“We are excited to partner with Deribit by Coinbase once again on the latest edition of the competition,” said Chris Yu, CEO and Co-Founder from SignalPlus. “The Island is designed to make participation more dynamic and more rewarding, whether traders are competing on volume, teaming up with their network, or engaging through short-dated options and daily missions. Together, we are creating a more immersive experience for sophisticated retail traders.”

Competition Highlights include:

Core Arena: Weekly solo and team trading leaderboards designed to reward notional trading activity across individual and squad-based competition. Mystery Box Deposit Round: Users who register and maintain deposits for seven days unlock Mystery Box draw chances tied to guaranteed USDC prizes and premium rewards. Daily Reward Ecosystem: Daily individual and team missions encourage repeat engagement, with volume-based rewards and team milestone unlocks. Flash Arena: Short-dated options trading powers daily reward multipliers and jackpot-style shooting mechanics, including access to the Private Island reward opportunity. Block Arena: High-balance and block-trade participants can unlock fee rebates and luxury reward opportunities. Expansion Arena: Referral mechanics reward both community growth and successful invitations of higher-value traders. In addition to the Private Island headline reward, this year’s prize pool includes a range of premium rewards such as a Rolex Watch, Apple Vision Pro, NVIDIA Stock, Luxury Turkey Trip, Ledger Stax, Gentle Monster Sunglasses, Razer Keyboard, SOL spot rewards, trading fee coupons, and daily USDC prize pools.

The Island invites participants into a dynamic retail trading competition that combines strategic trading with team-based participation and a tiered reward structure. With every trade, participants move closer to exclusive rewards, from daily USDC prizes to the Private Island headline jackpot. The event begins today.

About Deribit 

Deribit by Coinbase is a centralized, institutional-grade provider of crypto derivatives ecosystem, specializing in Bitcoin and Ethereum options and futures. With state-of-the-art infrastructure, Deribit offers instantaneous price discovery, low-latency execution, advanced risk mitigation tools, and deep liquidity through a network of top-tier market makers. Deribit facilitates the majority of global crypto options volume and upholds rigorous proof-of-reserves practices to maintain the highest standards of integrity and transparency.

About SignalPlus

Signalplus provides trading software and infrastructure for crypto derivatives, helping professional and sophisticated retail traders access options, futures, and spot markets with advanced execution and analytics tools. SignalPlus delivers a comprehensive options trading suite tailored for crypto derivatives traders.

Source: Binance EN

This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Nine years ago, Binance launched with a mission to increase the freedom of money for people around the world. Today, we’re celebrating that journey with you - the community that made it all possible. To mark our 9th Anniversary, we’re launching a community-wide celebration across Binance Discord, Binance WhatsApp, and the Binance Angels X account. Nine days. Nine challenges. One shared milestone. Complete the challenges, show your Binance spirit, and earn your share of 7,000 USDC token vouchers in rewards! Activity Period: 2026-07-06 12:00 (UTC) to 2026-07-15 23:59 (UTC) Binance Discord Challenge: 4,000 USDC Prize Pool Our biggest community celebration starts on Discord. Over 9 days, we’re running a series of daily challenges inside our dedicated anniversary channels. Complete more challenges, unlock a bigger share of the rewards. How to Participate: Join the Binance Discord server and complete the daily challenges that will be shared in this channel.Submit your entry in this channel using the corresponding hashtag for each day. Reward Structure: During the Activity Period, eligible participants who fulfil the aforementioned criteria and can share the prize pool, according to the number of challenge(s) completed: Complete all 9 challenges: Share 2,000 USDC prize poolComplete 5 to 8 challenges: Share 1,200 USDC prize poolComplete 1 to 4 challenges: Share 800 USDC prize pool Binance WhatsApp Challenge: 2,000 USDC Prize Pool The celebration extends to our WhatsApp community. Follow the Binance WhatsApp channel daily, complete the corresponding Binance Survey for each challenge, and earn your share of the prize pool. How to Participate: Follow the Binance WhatsApp channel for all daily challengesComplete the daily challenges and submit the Binance Survey that will be attached in each daily post. Reward Structure: During the Activity Period, eligible participants who fulfil the aforementioned criteria and can share the prize pool, according to the number of challenge(s) completed: Complete 5 to 9 challenges: Share 1,200 USDC prize poolComplete 1 to 4 challenges: Share 800 USDC prize pool Binance Angels X Challenge: 1,000 USDC Prize Pool Binance was built by its community - country by country, city by city, person by person. To celebrate our 9th Anniversary, we’re inviting users around the world to share their Binance story on X. Show us where you are, when your journey with Binance started, and let’s mark this milestone together. How to Participate: During the Activity Period, complete the following steps and create a post on X with the following details to be eligible: Follow and tag the Binance Angels X account (@BinanceAngels);Use the hashtag #BinanceTurns9;Share a photo of yourself in your city or country;Share in which year you first started using Binance;Complete the submission survey via the official link on Binance Angels X account. Reward Structure The best 50 entries will share a prize pool of 1,000 USDC in token vouchers (20 USDC per winner). Winners will be selected based on creativity, authenticity, and Binance brand relevance, at Binance’s discretion. Terms & Conditions: These terms and conditions (“Promotion Terms”) govern users’ participation in the promotion above (“Promotion”). By participating in this Promotion, users agree to these Promotion Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice; all of which are incorporated by reference into these terms and conditions. In the case of any inconsistency or conflict between these Promotion Terms, and any other incorporated terms, the provisions of these Promotion Terms shall prevail, followed by the following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice.Only users who complete identity verification during the Activity Period can qualify for rewards in the Promotion. The products or features referred to above may not be available in your region. Users are responsible for informing themselves about and observing any restrictions and/or requirements imposed with respect to the access to and use of Binance services in each country from which the services are accessed.Products and promotions may not be available in certain countries and to certain users. Content you see should not be construed as solicitation or advice to use any Binance feature. This content is not intended for users to which restrictions apply. You are responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of Binance services in each country. Applicable restrictions will be applied to all landing pages in links included in our informational messages.Users in the following countries could participate in the Campaign but they are restricted to be among the winners list: Afghanistan, Albania, Algeria, Andorra, Angola, Argentina, Australia, Austria, Bahamas, Bahrain (.com), Belgium, Benin, Bolivia, Botswana, Brazil, Bulgaria, Burkina Faso, Burundi, Cabo Verde, Cameroon, Canada, Central African Republic, Chad, Chile, China, Colombia, Comoros, Congo, Crimea region (and any non-government controlled areas of Ukraine), Croatia, Cuba, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Ecuador, Egypt, Equatorial Guinea, Eritrea, Estonia, Eswatini, Ethiopia, Falkland Islands (British Overseas Territory), Finland, France, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar (British Overseas Territory), Great Britain (United Kingdom; England) Falcon Retail, Great Britain (United Kingdom; England) Titan Pro, Greece, Guernsey (Crown Dependency), Guinea, Guinea-Bissau, Haiti, Hong Kong, Hungary, Indonesia, Iran, Iraq, Ireland, Isle of Man (Crown Dependency), Israel, Japan, Japan (Local Exchange), Jersey (Crown Dependency), Jordan, Kenya, Kosovo, Kuwait, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Mali, Malta, Mauritania, Mauritius, Moldova, Monaco, Montserrat (British Overseas Territory), Morocco, Mozambique, Myanmar, Namibia, Netherlands, New Zealand, Niger, Nigeria, North Korea, Norway, Oman, Palestinian territories, Peru, Philippines, Poland, Portugal, Qatar, Romania, Rwanda, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Somalia, South Africa, South Korea, South Sudan, Sudan, Sweden, Tanzania, Thailand (.com), Togo, Tunisia, Turkey, Turkey (Local Exchange), Uganda, United Arab Emirates (Dubai Local Exchange "FZE"), United States, Venezuela, Yemen, Zambia, Zimbabwe.Rewards will be distributed in 1 month after the campaign ends.Users will be able to login and redeem their token voucher rewards via Profile > Rewards Hub. The validity period for the token voucher is set at 30 days from the day of distribution. Binance reserves the right to disqualify a user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegally bulk account registrations/logins, self dealing, or market manipulation). Binance further reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this Promotion, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all Participants shall be bound by these amendments. There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. Thank you for your support! Binance Team 2026-07-06

According to monitoring by OnchainLens, the smart money address 0x15a, which has been dormant for several months, deposited $1 million USDC into Hyperliquid and opened a 40x leveraged long position of 200 BTC, with the position valued at roughly $12.58 million. The address’s last on-chain activity occurred in March this year, and its historical cumulative profit from perpetual contracts stands at approximately $2.28 million.

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15h05 ▪ 5 min read ▪ by Evans S.

Summarize this article with:

The stablecoin market lost 1.9 billion dollars in one week, despite a capitalization still exceeding 311 billion. The decline remains limited in percentage, but it shows that the liquidity available in crypto is contracting slightly. Tether weighs the most in this drop, while Sky Dollar records the sharpest fall among the major stablecoins.

In brief The stablecoin market lost 1.9 billion dollars in one week. USDT accounts for 41% of the total decline. PYUSD grows despite the sector’s overall decline. Stablecoin: a moderate but visible decline The stablecoin market shows a total capitalization of 311.311 billion dollars. Over seven days, this represents a decline of 0.61%, or about 1.911 billion dollars withdrawn. This movement follows several months where stablecoins had rather served as a refuge in an unstable crypto market.

The drop is not a collapse. It remains low compared to the fluctuations observed on bitcoin, ether, or altcoins. But it deserves attention because the stablecoin supply often acts as a gauge of the available liquidity.

When stablecoin capitalization increases, it may signal the arrival of new dollars in the ecosystem. When it falls, it may indicate redemptions, capital outflows, or a rotation towards other financial products.

Tether’s USDT lost 791 million dollars over the week. Alone, this decline represents about 41% of the total stablecoin market drop. This is explained by its size: with 184.112 billion dollars capitalization, USDT still largely dominates the sector. Its market share reaches 59.14%. Therefore, Tether’s stablecoin remains the main settlement tool on crypto platforms. Even a limited drop of 0.43% moves several hundreds of million dollars.

Circle’s USDC also declines. Its capitalization reaches 73.098 billion dollars after a 1.05% drop over seven days. Together, USDT and USDC still represent more than 82% of the top 15 capitalization. This duopoly offers a clear market reading. When the two largest stablecoins fall simultaneously, the contraction does not come from a single isolated issuer. It affects the core of crypto liquidity.

Sky Dollar leads the decline of the stablecoin market Sky Dollar, or USDS, records the largest weekly drop among the top fifteen stablecoins. Its capitalization falls by 2.36%, to around 8.02 billion dollars. The decline remains contained, but it contrasts with the stronger dynamics recently shown by some competitors.

World Liberty Financial USD1 also declines by 1.77%, to 4.61 billion dollars. Global Dollar loses 1.19%, while Ethena USD slips 0.49%. Thus, the pressure focuses mainly on several mid-tier stablecoins. DAI resists better, gaining slightly 0.09% to 4.851 billion dollars. This gain is too small to change the market balance, but it shows that not all stable assets follow exactly the same trajectory.

PayPal’s PYUSD stands out in the opposite direction. Its capitalization grows by 4.25%, to 2.836 billion dollars. This increase confirms that some payment players continue to attract capital in the stablecoin sector despite the general retreat.

A liquidity signal to watch The 1.9 billion drop is not enough to announce a massive exit from the crypto market. The stablecoin sector remains close to its recent range, between 300 and 315 billion dollars. The movement looks more like an adjustment than a sudden flight.

However, the trend must be monitored over several weeks. A lasting contraction would reduce the dry powder available to buy digital assets. Traders often use stablecoins as a waiting reserve before returning to bitcoin, ether, or riskier tokens.

The stablecoin market is also changing in nature. Alongside settlement tokens like USDT and USDC, new products seek to offer yield or exposure to tokenized Treasury bills. Circle USYC, BlackRock BUIDL, and Ondo USDY show that the boundary between stablecoin, money market fund, and tokenized asset is becoming finer.

This transformation can attract more stable capital, but it can also fragment the market. Users no longer just seek a liquid digital dollar. Some want yield, others prioritize compliance, speed, or payment access. That is why the current decline must be read with nuance. The stablecoin market contracts this week, but it remains at the center of crypto usage, notably in cross-border payments.

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Evans S.

Fascinated by Bitcoin since 2017, Evariste has continuously researched the subject. While his initial interest was in trading, he now actively seeks to understand all advances centered on cryptocurrencies. As an editor, he strives to consistently deliver high-quality work that reflects the state of the sector as a whole.

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.

Stablecoins just had their biggest month ever, and Visa has the receipts. The payments giant’s Onchain Analytics dashboard recorded $1.79 trillion in adjusted stablecoin transaction volume during June, narrowly eclipsing the previous record of $1.78 trillion set back in February.

Visa filters out inorganic activity like bot-driven trading and wash transactions, meaning this figure represents something closer to actual humans and institutions moving actual money.

USDC is running the show The breakdown by stablecoin tells a clear story of market dominance shifting. USDC, the dollar-pegged stablecoin issued by Circle, accounted for roughly 67% of the total adjusted volume at $1.21 trillion. USDT, Tether’s longstanding market leader by supply, captured about 32% at $576 billion.

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The activity was heavily concentrated on two networks: Solana and Base. Solana’s appeal is straightforward, offering sub-cent transaction fees and near-instant finality that make it a natural home for high-frequency stablecoin transfers. Base, Coinbase’s Layer 2 network built on Ethereum, has quietly become a preferred rail for USDC activity, which makes sense given Coinbase’s role as a co-founder of the USDC ecosystem through its relationship with Circle.

The 63% jump from May to June is striking on its own, but the year-over-year comparison is even more dramatic. A 125% increase signals that stablecoin adoption isn’t just growing. It’s accelerating.

The bigger picture: $10.2 trillion in twelve months Cumulative adjusted stablecoin volume over the trailing 12 months has reached approximately $10.2 trillion, according to Visa’s dashboard, which is powered by blockchain data firm Allium.

Visa has been tracking stablecoin performance since 2019. The company’s methodology, built in partnership with Allium Labs and Artemis, specifically aims to capture organic user flows rather than inflated on-chain metrics.

The dashboard’s rolling 30-day figure as of early July was hovering near $1.8 trillion, suggesting June wasn’t a one-off spike but part of a sustained upward trajectory.

The total market capitalization of stablecoins has crossed $322 billion. Visa’s own stablecoin settlement pilot has expanded across nine different blockchain networks, achieving an annualized run rate of $7 billion as of April. The company processes more than $12 trillion annually across its card network.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Summer.fi has reportedly been exploited, with roughly $6 million drained so far. Blockaid flagged the exploit in a post on X on Monday.

The security firm published the attacker’s address, the exploit contract, and the affected Lazy Summer contracts. 

DeFi Protocol Summer.fi Reportedly Loses $6 Million in Active ExploitBlockaid said its detection system surfaced the incident on Monday morning, estimating about $6 million in losses at that stage. The firm highlighted the on-chain addresses associated with the attack.

Exploiter address: 0x7BF716167B48CF527725722C6d79494b45B3BDCa Exploit contract: 0x0514F827C129C16418a0933E03C99A6AF982FC61 Affected Summer.fi / Lazy Summer contracts: 0x98C49e13bf99D7CAd8069faa2A370933EC9EcF17 0xA9ca4909700505585B1aD2a1579dA3b670FFA9c4 0xE9cDA459bED6dcfb8AC61CD8cE08E2D52370cB06 Security firm PeckShield identified the main affected vault as LazyVault_LowerRisk_USDC (LVUSDC), which Block Analitica risk-manages. The firm said that the vault’s displayed APY briefly spiked to about 2.08 million %.

“The largest current holder is 0x8741e8f…4130, which appears to be associated with Torben Jorgensen (UDHC), and has deposited ~8.6M USDC into this vault,” the post read.

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Summer.fi, formerly Oasis.app, is the front-end for the Lazy Summer Protocol, an onchain vault system that automatically routes deposits across DeFi yield sources like Aave and Morpho.

The network’s native token SUMR traded near $0.00193, down 5.3% over 24 hours. The move diverged from the broader market, which rose more than 1% on the day.

SUMR Token Price Performance. Source: CoinGeckoThe incident marked the second crypto exploit recorded in July, according to DeFiLlama. It follows a series of attacks in June, when crypto platforms lost $75.87 million across 40 hacks, with the Humanity Protocol breach accounting for the largest loss.

BeInCrypto has reached out to Summer.fi for comment. This is a developing story.

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Leading cryptocurrencies gained alongside stock futures on Sunday as investors braced for the release of the Federal Reserve’s June meeting minutes.

Crypto Market LiftsBitcoin spiked late evening, nearly breaking $64,000, as trading volume increased marginally. Ethereum broke through $1,800, with a 41% jumpe in 24-hour volume, while XRP and Dogecoin inched higher.

Over $160 million was liquidated from the cryptocurrency market in the last 24 hours, with $108 million in bearish short positions, according to Coinglass data.

Bitcoin’s open interest rose 1.21% over the last 24 hours. Meanwhile, retail and whale derivatives traders remained net long on the apex cryptocurrency.

"Extreme Fear" sentiment prevailed in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.13 trillion, representing a 2.39% increase over the last 24 hours.

Stocks Futures RiseStock futures edged higher overnight on Sunday. The Dow Jones Industrial Average Futures rose 82 points, or 0.15%, as of 8:45 p.m. EDT.  Futures tied to the S&P 500 spiked 0.54%, while Nasdaq 100 Futures rallied 1.36%.

Eyes will be on the Federal Reserve this week as traders await the minutes of the June meeting, the first chaired by new Chairman Kevin Warsh, which are due on Wednesday. The central bank kept the federal funds rate steady in a target range of 3.50% to 3.75%

Macro Pullback Phase?“Stablecoin contraction historically reflects a macro pullback phase, as active capital is redeemed for fiat or sidelined during broad market corrections,” the analyst stated.

Michaël van de Poppe, another popular cryptocurrency commentator, expressed optimism for a “shallow” BTC correction followed by a swift rebound, viewing it as the catalyst to reclaim the 200-week moving average, around approximately $62,500-$62,600, and exit the bearish price action.

Photo: KateStock / Shutterstock

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Bitcoin

5 July 2026 | 16:20 It looks like Bitcoin's problem right now isn't that holders have lost faith. It's that the money needed to push price higher has drained out of the system.

Key Takeaways Stablecoin exchange inflows sit at an 18-month low, down 56% from the mid-2025 rally. USDC and USDT supply has been contracting since November 2025, a demand gauge turning negative. Three independent methods converge on the same floor: $58,000-$60,000. BTC trades at $62,794, bouncing off its 50-month average at $59,878. Four separate on-chain lenses all describe the same market from different angles, and they agree on the structure while disagreeing only on how deep it goes: this is a liquidity drought, not a conviction collapse.

The Fuel Gauge Is Near Empty Start with the clearest signal. According to CryptoQuant analyst Zakariya Sharif, mean stablecoin inflows across all exchanges sit at 21,557, down 56.25% and the lowest in 18 months. During the mid-2025 rally, those inflows regularly spiked between 100,000 and 280,000.

ERC20 stablecoin exchange inflow and Bitcoin price correlation. One isolated spike in May 2026 failed to reverse the trend, and flows have flatlined since. Sharif’s framework is specific: inflows staying below 30,000 for two more weeks points to a retest of $58,000-$60,000, while a sustained recovery above 80,000-100,000 would be the first genuine sign buyers are returning.

The supply side of stablecoins tells the same story. CryptoQuant’s Darkfost notes USDC’s market cap is down 3.6% and USDT down 2% over 30 days, a contraction running since November 2025.

30-day market cap growth of major stablecoins versus Bitcoin price. The mechanism is what makes this meaningful: issuers mint new tokens when demand rises and burn surplus when it weakens, so stablecoin supply is itself a demand gauge. A net burn means more capital has left crypto than entered. Inflows at 18-month lows and stablecoin supply shrinking are the same fact measured twice.

Where the Money Went This is where a growing number of prominent voices offer an explanation, and a reason the drought may not be permanent. Several major figures argue the liquidity didn’t vanish, it rotated into AI. Raoul Pal, the Real Vision CEO and former Goldman Sachs executive, frames the crypto weakness as the product of negative excess liquidity that pulled capital into AI and semiconductor sectors, a condition he now says is beginning to reverse as broader liquidity measures turn positive.

Arthur Hayes has put numbers on it, estimating that hyperscalers and AI firms issued roughly $1.5 trillion in debt between late 2022 and mid-2026, almost exactly matching the rise in M2 money supply over the same period, leading him to argue “AI sucked up all created dollars.” Tom Lee and CZ have pointed to the same rotation pattern, US semiconductor ETFs pulled in more than $20 billion since April while Bitcoin and gold ETFs saw outflows, and the shared thesis among them is that this capital tends to rotate back toward crypto once liquidity conditions ease and crypto reclaims performance leadership. It’s a view worth weighing as the optimistic counterpoint, though it remains a thesis about what could happen, not a confirmed turn.

That framing points to a deeper structural shift underway, one Michael Saylor has articulated more directly than most. Saylor argues that “Bitcoin evolves by not changing,” meaning its next phase will come not from frequent protocol upgrades but from being woven more deeply into global finance.

https://t.co/z65C1oYdaw

— Michael Saylor (@saylor) July 5, 2026

In his view, the coming decade will be driven by capital flows rather than miner issuance, with demand increasingly sourced from ETFs, corporate treasuries, sovereign reserves, bank credit, derivatives, insurance, collateral markets, structured credit, and global savings. “The halving tightens supply. Capital flows set the growth trajectory,” as he puts it, reflecting his conviction that institutional adoption, not the protocol itself, is the engine of Bitcoin’s long-term growth. It’s a useful lens for the current moment: if capital flows are what ultimately move Bitcoin, then the stablecoin drought this article describes is precisely a capital-flow problem, and the case for a recovery rests on those flows turning, exactly as the AI-rotation thesis suggests they could.

How Deep Is the Bottom? The depth gauges agree the market is in a bottom-formation zone, but not yet at historical extremes. Darkfost, using a chart by Joao Wedson, points to the True Market Mean, the average price of active Bitcoin excluding long-dormant coins, sitting near $76,700. That level acted as resistance in May, when holders exited at break-even rather than keep holding.

Bitcoin True Market Mean Price and AVIV Ratio analysis. The related AVIV ratio sits around 0.8, meaning the active cohort holds an average 20% loss. Prior bear-market bottoms printed 0.5-0.6, or 40-50% losses, so this is significant but not yet capitulation-grade. Darkfost’s own hedge is worth keeping: ETF-era adoption may mean full historical devaluation isn’t required, though nothing yet contradicts the cyclical pattern.

CryptoQuant’s Yonsei adds another measure. Just 51.9% of circulating supply is in profit, in bear/bottom territory below 55% since June and trending down since October 2025, approaching the 44% that marked the 2022 absolute bottom. That 2022 bottom phase lasted roughly eight months; mapped onto this cycle, the phase could stretch into September or October 2026.

Bitcoin supply in profit percentage trends. Every depth gauge says the same thing with different numbers: AVIV at 0.8 versus 0.5-0.6 at prior bottoms, Supply in Profit at 51.9% versus 44% in 2022, drawdown around 50% versus 60-80% in prior cycles. The 2022 template has room left. The open question is whether ETF-era adoption shortens the distance.

The Levels All Point to One Floor Here’s the detail that could tie everything together. On the monthly chart, July’s candle is up 7.29% to $62,794 after a June low of $57,700, and it’s bouncing off a level that matters: the 50-month simple moving average at $59,878. This is the same average Bitcoin never lost during the entire 2024-2025 run. Monthly RSI at 43.14 is the weakest of the cycle, while the 100-month average at $40,488 stands as the historical bear-market floor reference.

Monthly BTC/USD price chart on Bitstamp / Source: TradingView What makes the $58,000-$60,000 zone compelling is that three completely independent methodologies land there. Sharif’s on-chain risk zone ($58,000-$60,000), the June price low ($57,700), and the 50-month SMA ($59,878) all sit in the same band. Flow analysis, price history, and long-term trend structure, three unrelated approaches, identify the same floor. Above price, the ceiling story converges too: the True Market Mean at $76,700 is where active holders break even, which functionally caps rallies until either price consolidates long enough for the cost basis to fall or demand strengthens enough to absorb those break-even sellers.

That said, this is still crypto, a market that has a long history of surprising even the most aligned models, and if there’s one thing the past cycles have taught, it’s that when every analyst and dataset agrees on a floor, the market is fully capable of slicing straight through it to levels no one was positioned for.

Three Frameworks, One Timeline The timing estimates cluster just as tightly. Yonsei_dent’s Supply-in-Profit template points to September-October. Markus Thielen’s earlier analysis mapped a Q4 bottom. Rekt Capital’s estimate that the cycle is 71% complete implies late 2026. Three unrelated frameworks land in the same quarter, and that clustering is itself information worth stating plainly, rather than any single forecast carrying the weight.

This is also corroborated outside CryptoQuant. A CEX.IO report covered by CryptoSlate found total stablecoin supply contracted to $312 billion in Q2, the first quarterly decline since 2023, with transaction counts posting their largest drop on record. The liquidity story isn’t one analyst’s read; it’s showing up across independent datasets.

The Sequence to Watch The value in stacking these signals is that they have an order, a sequence that could confirm a genuine turn rather than a false start:

First, stablecoin supply must stop burning. Issuance is the fuel gauge, and it has to stabilize before anything else matters. Then, exchange inflows recover above 80,000-100,000. That’s the fuel actually reaching the engine. Then, Supply in Profit reclaims 55%. The marker of the phase transition out of bottom territory. Finally, price has to take on $76,700. The structural exit test, where break-even sellers get absorbed. Right now the market sits at step zero, holding the $58,000-$60,000 floor while it waits for step one. A monthly close below the 50-month average at $59,878 before that liquidity turn arrives could invalidate the floor thesis and open the path toward the deeper historical targets. Until the dollar side of the order book refills, this is a market resting on a well-defined floor, with conviction intact and only the fuel missing.

This article is for informational purposes only and does not constitute financial advice. Consult a professional before making investment decisions.

Author

Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.

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.

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COIN and CRCL stock remain two major crypto equity names as investors compare different growth stories. Coinbase provides a wide range of trading, custody, staking, subscriptions, and institutional services. Circle provides investors with a direct stablecoin investment in terms of USDC growth and reserves income. Both stocks increased on July 5, but their 2026 growth will rely on various catalysts.

COIN and CRCL Stock Show Two Different Crypto Bets Coinbase is the bigger company and has a broader profile of the crypto market. COIN closed at $165.48 on July 2 after gaining 3.92% on Nasdaq. The crypto stock added $6.24 during regular trading before moving slightly higher after the close.

Coinbase was worth approximately $43.81 billion in the market. That rating places it higher among publicly-traded crypto firms. 

The company is profitable through trading fees, custody, staking, and stablecoin activity, subscriptions, and institutional services. This combination provides COIN with multiple channels of growth.

COIN stock Nevertheless, Coinbase remains reliant on crypto market activity. Its recent quarterly performance was under pressure by decreased trading volumes. The Q1 revenue was close to $1.43 billion where the transaction revenue was poor. 

A quarterly loss was also posted by the company as the momentum in the market waned.

That weakness is still a significant risk to investors. Nevertheless, COIN can be profitable in case crypto trading gains in 2026. 

The increased activity of Bitcoin, Ethereum, and altcoins could contribute to the revenue of Coinbase. The demand in institutions could also favor its custody and subscription business.

Circle Offers Higher Growth From USDC Circle’s price is smaller than Coinbase but has a more distinct story in terms of a stablecoin. CRCL closed at $64.62 on July 2 after rising 4.31% on the NYSE. The stock gained 2.67 in the normal trading. 

Circle was worth around 17.23 billion dollars. USDC is still one of the biggest regulated stablecoins and its primary driver. USDC circulation is reported to have hit 77 billion in Q1 2026. That was 28 percent higher than last year.

The USDC on-chain transaction volume also hit 21.5 trillion. That was a 263% annual growth. The revenues and reserve earnings increased by 20% to $694 million. These values back CRCL as a specialized stablecoin stock.

Nevertheless, Circle has definite risks. The firm relies on the reserve income based on USDC backing assets. Further drops in interest rates would decrease that income in the long run. Increasing competition in stablecoins may also impact margins and market share.

COIN and CRCL Stock Outlook: Key Levels to Watch COIN is holding above the $165 area after its recent gain. There was a brief pullback to buyers around $162.50. That level is now near term support. Any fall below would reveal the next of $159.24.

On the positive side, COIN would have to sell off more volume to break even at $166. Breakout may lead to a move towards $168. In case buyers are active, the next target is close to $170.

CRCL is trading close to the $65 level. Its support at its first level is around 64. Any downward movement below that region might undermine the sentiment in the short term. Traders may then watch $63 and $61.95.

CRCL stock In case CRCL breaks above 65, the target is close to 66. The stock might be driven to $67.50 by the stronger momentum. On the whole, CRCL can have greater increase in headlines. COIN can do more well among investors wishing to have broader crypto exposure.

This week, the digital asset industry’s discussions centered on topics including AI, the EU’s Markets in Crypto-Assets (MiCA) regulation, stablecoins, and Bitcoin. On the AI front, multiple industry insiders noted that current market capital is shifting from digital assets to AI infrastructure development, and future value in the AI sector may be captured more by application layers and infrastructure providers rather than just large language model developers. Additionally, some argue that if the U.S. government acquires equity in OpenAI, it could further exacerbate the trend of centralization in the AI industry. On the regulatory side, as MiCA’s transition period has officially ended, EU crypto asset service providers must now obtain full MiCA licenses to continue operating. Industry players believe that regulatory compliance will gradually become a key competitive advantage for crypto payment and digital asset service providers in Europe. Regarding stablecoins, the industry continues to focus on the newly launched Open USD (OUSD). Analysts believe its ecosystem, involving over 140 institutions including Visa, Mastercard, Stripe, Coinbase, BlackRock, and BNY, is poised to challenge the existing stablecoin market landscape (such as USDC) by leveraging distribution advantages. However, some point out that OUSD still faces challenges including liquidity cultivation and governance coordination. On the Bitcoin front, market views are divided over recent capital operations by Michael Saylor’s firm Strategy. Some analysts argue that the company’s recent financing arrangements mean it may still sell Bitcoin to meet future funding needs; others believe the move effectively eases market concerns about its liquidity and default risks, representing a positive risk management measure.

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Current funding rates on major centralized (CEX) and decentralized (DEX) exchanges show that bearish momentum for Bitcoin (BTC) and Ethereum (ETH) is easing, with market sentiment remaining neutral to slightly bearish.

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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.

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Solana infrastructure sees a game-changing update! What does ERPC’s x402 integration mean for USDC payments?

Europe’s largest fintech platform, Revolut, will drop Tether’s USDT by 31st of August. However, USDT deposits will be disabled from the platform by the end of this month.

The tech giant informed users that those who fail to transfer their funds by the end of August will have their USDT automatically exchanged to fiat. 

The move is likely informed by regulatory pressure, according to analyst Max Karpis. He noted, 

Revolut is delisting USDT on 31 Aug 2026 (regulatory/risk reasons). Not long ago, they expanded support to include zero-fee transfers and 1:1 USDT/USDC swaps. Now a reversal. Compliance hits again.

EU’s crypto regulatory framework, MiCA, is now in effect. Hence, the move is likely to block non-compliant stablecoins and tokens. 

Tether CEO deems MiCA as ‘dangerous’ for stablecoins Interestingly, Tether CEO Paolo Ardoino has been open about not seeking MiCA approval. In fact, he argued that the regulation is “bad” and “dangerous” for stablecoins. 

The problem I have with MiCA is that it’s very dangerous for stablecoins. What will happen next year is that a few banks in Europe will go belly up because of MiCA’s requirement that 60% of stablecoin reserves be kept in uninsured cash deposits in European banks.

He also noted that only small banks accept crypto firms, as major ones like UBS are unwilling to accept stablecoin business. For Ardoino, this would be risky as a +20% redemption on USDT could quickly trigger a banking crisis. 

He believes that MiCA is designed to position the Digital Euro to control fund flows. Hence, he opted to keep USDT safe for emerging markets that rely heavily on it. 

Whether the same risk applies to Circle’s USDC or Euro stablecoin EURC is not clear. However, Circle has MiCA approval and seems to have benefited last month as the MiCA transition period came to an end. 

According to Visa data, USDC saw $1.21T in transfer volume in June, doubling Tether’s USDT. This was the second highest monthly transfer volume following February’s record $1.28T amid growing adoption across most blockchains.

Source: Visa  In fact, less than a week into July, USDC’s volume was 3x that of USDT, underscoring a likely shift tied to the MiCA framework. Users across the EU or those sending money to the continent may be opting for USDC instead of USDT. 

The shift was also evident across US dollar and Euro-based stablecoins. The latter grew 11x while USD-based stablecoin volumes shrank.

Source: TRM Labs Tether’s USDT still dominates the stablecoin market in terms of supply though. It remains to be seen whether Circle will close the gap as Revolut and other EU platforms continue to delist USDT.  

Final Summary Revolut will delist USDT by August 31st and stop accepting deposits from the stablecoin by the end of July. USDC transfer volume hit $1.21T, doubling Tether’s USDT, further underscoring MiCA’s impact on stablecoin adoption.