Track market-moving stories before they get noisy

Jul 12, 2026, 1:00 p.m.

3 min read

(Liu JiaWei/Unsplash)Summary

The stablecoin market has shrunk by roughly $10 billion since its May peak, including a $7.7 billion decline just in June.On a percentage basis, though, it was just a 3% fall; still modest compared with the 26% contraction during the 2022 crypto bear market.Newer regulated issuers are beginning to chip away at the dominance of USDT and USDC, according to data.The stablecoin market posted its biggest retreat in years in June, a sign that onchain liquidity has dwindled as crypto markets continued to consolidate near 2026 lows.

Last month saw a $7.7 billion decline in stablecoin market capitalization, the largest dollar amount since May 2022, when blockchain protocol Terra-Luna collapsed, kickstarting a brutal bear market often dubbed as crypto winter, CoinDesk Data reported.

Stablecoin market capitalization (CoinDesk Data)Zooming out, the total value of stablecoins in circulation has fallen ny roughly roughly $10 billion since its May peak, according to data from RWA.xyz. It's about a 3% drop on a percentage basis, the largest such downtrend since 2023, but well shy of 2022's 26% collapse.

The decline has been driven mainly by the two dominant issuers. Tether's USDT, the largest stablecoin, has seen its market capitalization fall to roughly $184 billion from $190 billion in May, a decline of about $6 billion. Circle's USDC has dropped to around $73 billion from its March 2026 peak of just shy of $80 billion, shedding another $7 billion.

The setback is notable because it runs counter to the bullish outlooks of Wall Street banks on stablecoin growth. Last year, global bank Citi revised its stablecoin growth forecast for 2030 to $1.9 trillion in its base case and $4 trillion in a bull case, up from $1.6 trillion and $3.7 trillion, respectively. Standard Chartered projected a $2 trillion market by 2028.

The decline also carries broader relevance for the crypto market. Major stablecoins are widely used as the quote currency for crypto trading and increasingly for payments and settlement, making changes in their supply a closely watched gauge of liquidity flowing into or out of digital assets.

Nothing like the 2022 crypto winterThe pullback may seem dramatic, but it's modest by historical standards.

A similar pullback occurred between December 2025 and February 2026, when stablecoin supply fell by roughly $9 billion before bouncing to a new record. That coincided with a major correction in cryptocurrencies, with bitcoin plunging from around $95,000 to $60,000.

Altogether, the stablecoin market has largely stalled around $300 billion since October (coinciding with bitcoin hitting its $126,000 record) after more than doubling in size in two years.

The 2022 bear market, marked by major implosions like crypto exchange FTX and lenders Celsius, BlockFi and Genesis, was far more severe for stablecoins.

The combined market capitalization of major stablecoins fell from roughly $166 billion in March 2022 to $122 billion by September 2023, RWA.xyz data shows — a decline of over 26% as investors pulled money from the digital asset market.

Tether's USDT fell from $78 billion to $65 billion between March and November 2022. For USDC, the downtrend took much longer to play out, falling from $55 billion in July 2022 to below $24 billion by November 2023, exacerbated by its banking partner Silicon Valley Bank's collapse in 2023 March.

The implosion of TerraUSD, the algorithmic stablecoin of the Terra-Luna crypto project, also wiped out $18 billion from the stablecoin market.

The current decline is only a temporary setback in a long-term uptrend, one analyst said.

"The recent decline in stablecoin market cap represents a relatively small pullback in what we believe is a long-term growth market," said Paul Howard, senior director at trading firm Wincent.

"Short-term fluctuations in liquidity are normal, but they don’t change our view that stablecoins will continue to play an increasingly important role in the digital asset ecosystem," he added.

Increasing stablecoin competitionLooking beyond the headline decline, the trend appears more nuanced.

Part of the slowdown reflects a changing competitive landscape. As stablecoins move beyond crypto trading and into mainstream payments, new issuers have entered the market following regulatory progress such as the GENIUS Act in the U.S.

While Tether's USDT and Circle's USDC have both seen supply decline recently, several smaller competitors have expanded. Global Dollar (USDG), issued by Paxos and backed by a consortium including Robinhood, surpassed $3.2 billion in circulation, while USDGO, issued by Anchorage Digital with Hong Kong's OSL Group, nearly doubled to $900 million, CoinGecko data shows.

More competition is on the way, too. OpenUSD, backed by a group of payments and financial firms, is among several newcomers looking to challenge the dominance of USDT and USDC.

Even so, stablecoin growth has historically coincided with bull markets by providing fresh onchain buying power. Shrinking aggregate supply removes a tailwind for crypto markets, making it harder for cryptocurrencies to sustain rallies unless new demand emerges.

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Digital Assets: Quarterly Review and Outlook Q2

Digital Assets: Quarterly Review and Outlook Q2

Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.

Jul 10, 2026

Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.

Why it matters:

Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.

TL;DR The Bank of Thailand and the SEC are reviewing high-value USDT transactions over concerns about hidden ownership and remittance bypass. Individuals depositing 5 million baht ($150,000) or more in cash will be required to verify the source of their funds. The measures form part of a wider crackdown on the country’s shadow economy, covering banks, currency exchanges, bullion dealers, and digital assets. Thailand continues aligning its crypto regulations with international AML requirements through stronger monitoring and reporting rules for digital asset transactions. Thailand is stepping up its oversight of high-value cryptocurrency activity as regulators broaden efforts to curb illicit financial flows. The Bank of Thailand (BOT) is working alongside the country’s Securities and Exchange Commission (SEC) to examine large stablecoin transactions, particularly those involving USDT, amid concerns that digital assets could be used to conceal ownership or bypass domestic remittance channels. 

The move comes as the central bank prepares to introduce stricter banking rules later this year, requiring anyone depositing 5 million baht (around $150,000) or more in cash to provide evidence showing where the funds originated.

New Rules Expand Scrutiny Beyond Cash According to local reports, the upcoming measures form part of a broader campaign against Thailand’s so-called “grey economy,” economic activity that operates outside normal regulatory oversight.

Governor Vitai Ratanakorn said the new framework is designed to strengthen financial transparency rather than serve as a temporary enforcement campaign. The central bank plans to expand compliance requirements for commercial banks, currency exchange businesses, bullion dealers, and entities handling large digital asset transactions. 

The latest proposal follows restrictions introduced earlier this year that required customers withdrawing at least 5 million baht in cash to explain why electronic transfers or other payment methods could not be used. Authorities said those rules contributed to a 35% decline in large cash withdrawals, prompting regulators to introduce similar verification requirements for deposits. 

USDT Transactions Come Under the Spotlight Stablecoins have become another area of focus, especially as USDT faces increased scrutiny in Europe.

The Bank of Thailand and the SEC are reviewing sizeable USDT transactions amid concerns that some transfers may obscure beneficial ownership or circumvent traditional cross-border payment systems. Officials are also assessing whether certain market participants are using stablecoins as a channel for unregulated capital movement. 

Earlier this year, Governor Ratanakorn revealed that roughly 40% of USDT sellers on Thai platforms were foreign nationals, raising additional questions about compliance with domestic trading rules and anti-money laundering operations. Although Thailand’s crypto market remains relatively small compared with the country’s foreign exchange market, regulators believe closer monitoring is necessary as digital asset usage expands. 

SEC Strengthens Digital Asset Compliance The crackdown also aligns with broader regulatory initiatives already underway.

In June, Thailand’s SEC launched a public consultation on new Travel Rule requirements for digital asset businesses. The proposal would require licensed platforms to collect and transmit sender and recipient information for crypto transfers, bringing Thailand closer to international anti-money laundering standards. 

The regulator has also outlined additional measures aimed at improving blockchain transaction monitoring, strengthening fund-tracing capabilities, and enhancing oversight of stablecoin transactions conducted through licensed digital asset operators. These initiatives are being developed in cooperation with the Bank of Thailand and the country’s Anti-Money Laundering Office. 

Thailand has generally positioned itself as one of Southeast Asia’s more active digital asset markets, introducing crypto-friendly policies while maintaining strict licensing requirements for exchanges and service providers.

TLDR: BNB Chain cut block intervals from 750ms to 450ms between January and June 2026. Benchmark throughput nearly doubled to 5,200 transactions per second in H1 2026. New Layer 1 architecture targets 100,000+ TPS with testnet launch by late 2026. BNB Chain plans quantum resistant upgrades that preserve existing user addresses. BNB Chain published its H2 2026 technical roadmap on July 8, outlining plans to double mainnet throughput after strong first half results.

The network cut block intervals from 750 milliseconds to 450 milliseconds and raised benchmark throughput to roughly 5,200 transactions per second between January and June 2026.

The update also detailed a next generation Layer 1 architecture targeting over 100,000 transactions per second, alongside continued research into quantum resistant security measures.

First Half Performance Gains Set the Baseline BNB Chain measured its January to June progress through three core metrics. Block intervals dropped to 450 milliseconds while memory finality fell from 1,125 milliseconds to 650 milliseconds. Benchmark throughput nearly doubled from about 2,800 transactions per second to 5,200.

BNB Chain glo 🆙 in 2026 so far

Block intervals: 750 ms → 450 ms
Memory finality: 1,125 ms → 650 ms
Benchmark throughput: ~2,800 → ~5,200 TPS

H2 goes further, targeting another 2x throughput increase.

Catch up on the full roadmap 👇https://t.co/jCmjDehLBR

— BNB Chain (@BNBCHAIN) July 11, 2026

The network also became more stable during this period. Following the Osaka and Mendel hard fork, re-org occurrences on the BSC mainnet dropped noticeably compared to earlier months.

Four engineering features drove most of the improvement. Block Level Access List pre-declares state access patterns to support future parallel processing. Incremental Snapshot speeds up chain synchronization for new or lagging nodes.

EVM SuperInstruction reduced interpreter overhead by combining common opcode sequences, which directly boosted throughput. Extended Voting Rules strengthened the fast finality mechanism during adverse network conditions.

The BSC Rust client reached full Reth v2.0 compatibility during this window. This included Sparse Trie Cache, Proof V2, and RocksDB support, delivering a twofold performance gain.

Middleware also advanced, with the BNB Agent Studio and Agent SDK launching alongside the Middleware Payment Protocol SDK.

Second Half Targets a New Architecture BNB Chain set three commitments for the second half of 2026. The first goal is doubling mainnet throughput again, building toward a tenfold increase across the wider network over time.

The second commitment focuses on isolating application traffic so demand spikes in one area do not degrade performance elsewhere. Gas fee structures will also be adjusted to lower entry costs for Web2 and Web3 enterprises.

These goals connect to active workstreams. BEP-675 implementation, dedicated lane solutions for peak activity, and FOCIL inspired technology for transaction inclusion are already underway. BAL based parallel execution aims to cut block import latency further.

Beyond the current stack, BNB Chain is developing a new Layer 1 architecture. It targets over 100,000 transactions per second, sub-50 millisecond preconfirmation, and a TxStream design that removes the public mempool to limit front running.

The new chain will include PriorityLane for reserved block space and native privacy features with selective disclosure.

Testnet release is planned for late 2026, with mainnet following in early 2027. In its closing statement, BNB Chain said its aim remains building infrastructure that holds up under real use.

Quantum resistant research will continue throughout this period, layering new cryptography on top of existing systems without altering user addresses.

The stablecoin market has lost about $10 billion since reaching a record high in May 2026. Total supply fell by $7.7 billion during June to about $312 billion, marking the largest monthly decline in dollar terms since the TerraUSD collapse in May 2022. The decrease equaled roughly 2.4% for June and about 3% from the May peak. 

Summary

Stablecoin supply lost $10 billion since May as USDT and USDC redemptions reduced crypto liquidity. June recorded the largest monthly dollar decline since Terra, but the market contracted only 3%. Transaction volumes remained strong while tokenized assets expanded, showing blockchain finance activity continued despite redemptions. Current DefiLlama data places the market near $312.23 billion. The dashboard shows Tether’s USDT at about $184.15 billion and Circle’s USDC at roughly $73.41 billion. USDT still controls close to 59% of the market, leaving the sector heavily dependent on its two largest dollar-backed tokens.

USDT and USDC lead the supply reduction USDT fell from about $190 billion in May, cutting roughly $6 billion from its circulating value. USDC declined from a March peak near $80 billion, losing almost $7 billion over four months. Together, those changes account for most of the retreat, although smaller regulated issuers continued expanding during the same period. 

Paul Howard, senior director at trading firm Wincent, described the decline as “a relatively small pullback in what we believe is a long-term growth market.” The current drawdown remains far below the 26% stablecoin contraction recorded across the 2022 bear market. That earlier decline followed the Terra failure, lender collapses, and the failure of FTX.

Stablecoin Market Loses $10B Since May in Biggest Retreat Since the Terra Crash

According to CoinDesk, stablecoin market capitalization has fallen by roughly $10 billion from its May peak, including a $7.7 billion drop in June—the largest monthly decline in dollar terms since… pic.twitter.com/RafAPoaerJ

— Wu Blockchain (@WuBlockchain) July 12, 2026 Lower supply points to thinner crypto liquidity Traders use stablecoins as settlement assets and quote currencies across exchanges and decentralized markets. A falling supply can show that users redeemed tokens for bank dollars or moved capital outside crypto. It can also reduce the amount of dollar-linked buying power available for Bitcoin, Ether, and other digital assets.

The reduction arrived during a weak month for crypto investment products.Crypto.news reported that U.S. spot Bitcoin exchange-traded funds lost more than $4 billion in June, their worst monthly outflow since launch. The parallel declines show that institutional fund demand and on-chain dollar liquidity both weakened as digital asset prices remained under pressure.

Activity did not fall at the same pace as supply. The adjusted stablecoin transaction volume reached a record $1.78 trillion in June. USDC processed about $1.21 trillion, while USDT handled $573 billion. USDT still recorded more individual transfers, showing that fewer tokens can continue supporting heavy payment and trading activity.

Tokenized assets grow while stablecoins retreat Tokenized real-world assets moved in the opposite direction. However, their on-chain value crossed $30 billion during 2026, led by tokenized Treasury products, funds, and private credit. CoinDesk Research also recorded a 145% rise in tokenized equity volume during June to a record $3.86 billion.

Regulation and new issuers continue reshaping the stablecoin market. The U.S. GENIUS Act created a federal framework for payment stablecoins, while regulators are drafting customer identification, sanctions, and reserve rules. Crypto.news has also tracked new reserve products from Fidelity and State Street designed for regulated issuers.

The latest supply figures point to a pause in market expansion rather than a Terra-style collapse. USDT and USDC remain near their dollar pegs, transaction activity remains high, and the total market retains most of its recent growth. Further monthly contractions would provide clearer evidence that crypto liquidity is leaving the system rather than moving between issuers or on-chain products.

Investors will now watch July issuance, redemption data, exchange volumes, and ETF flows for signs that demand is returning or weakening further.

Table of contents

Bonzo Finance, a lending protocol on the Hedera network, saw its total value locked crater by 77% after an attacker exploited a verification flaw in a third-party oracle contract, siphoning approximately $9.05 million. The incident, reported by CoinDesk, highlights the cascading risk when DeFi applications depend on external price feeds without sufficient safeguards.

The vulnerability sat not in Bonzo’s own smart contracts but in a Supra oracle integration. That distinction matters. Protocols often audit their internal code extensively, yet the attack surface extends to every piece of infrastructure they plug into. A single flawed verification routine inside an oracle contract was enough to drain nearly all of the protocol’s liquidity. The attacker moved fast, and by the time the issue was detected, the damage was done.

How the Oracle Exploit Unfolded According to the details available, the attacker manipulated the price oracle logic to borrow assets against inflated collateral values. Because the Supra contract failed to properly verify incoming data, the malicious actor was able to present fake prices that Bonzo’s lending logic trusted implicitly. That trust was the entire mechanism for loan-to-value calculations. Once broken, the protocol’s solvency evaporated.

Oracle exploits are not new to DeFi. They have hit protocols across multiple chains for years. But this one stings for Hedera specifically because Bonzo had become one of the largest lending markets on the network. The 77% drop in TVL translates to millions in removed liquidity, stranded positions, and a sudden loss of confidence in the ecosystem’s ability to handle adversarial stress.

A Setback for Hedera’s DeFi Ambitions Hedera has been quietly building its DeFi footprint, attracting projects with its high throughput and fixed low fees. Yet the network remains a relatively small player compared to Ethereum or BNB Chain. While top blockchains by developer activity show Ethereum, BNB Chain, and Polygon far ahead, networks like Hedera operate with a thinner margin for error. A single high-profile exploit can reset months of user acquisition.

For institutional users and liquidity providers who had been cautiously testing Hedera’s DeFi waters, the Bonzo incident introduces a new risk premium. It also forces the question of how dependent the network’s lending protocols are on a narrow set of oracle providers. Supra’s role in this event will undoubtedly draw attention to the oracle landscape on permissioned and quasi-permissioned ledgers.

The Oracle Problem Isn’t Going Away What happened at Bonzo is not a one-off anomaly. Oracle manipulation remains one of the top attack vectors in decentralized finance because it exploits the gap between off-chain data and on-chain execution. Solutions exist—multiple price sources, time-weighted average prices, circuit breakers—but each adds complexity and cost. Smaller protocols often trade security for simplicity, and smaller chains may lack the deep infrastructure to offer robust alternatives.

Recovery for Bonzo users remains uncertain. While some past exploits led to partial fund returns through negotiations or white-hat bounties, no immediate path has been confirmed. The protocol’s team will need to assess whether a reimbursement plan is feasible and how to rearchitect the oracle integration. For the Hedera community, the next weeks will test whether liquidity returns or migrates elsewhere.

The broader lesson is clear. As DeFi spreads to new chains, the same old vulnerabilities follow. Unless oracle security becomes a first-class priority from day one, more protocols will find themselves emptying their liquidity pools in minutes.

AUTHOR

Kester is an experienced freelance content writer. His focus is primarily on blockchain technology and cryptocurrency. One might even refer to him as a "blockchain enthusiast." He has been following advancements in the crypto and blockchain area for several years, researching and writing his insights in the media. In addition to being a skilled content writer, Mushumir is also knowledgeable in SEO and digital marketing. He aspires to succeed as a content creator in the digital realm, dealing with customers in the finance and tech industries to generate traffic through engaging taglines and content. Mushumir enjoys traveling, reading, and playing cricket when he is not writing. He now works as a news and article writer for BlockchainReporter.

Uniswap has recorded a sharp rise in active traders following its integration with Robinhood Chain, as daily users reached 220,000, a figure over ten times higher than the previous week. Cumulative trading volume on Robinhood Chain through Uniswap also soared, approaching $1 billion in less than a week, according to initial on-chain data.

Uniswap-Robinhood integration drives growthThe recent surge is largely attributed to the deployment of Uniswap — a leading decentralized exchange (DEX) protocol — on Robinhood Chain, the blockchain network launched by Robinhood Markets to support its expanding crypto trading ecosystem. Uniswap Labs leads the protocol’s development, while Robinhood Markets is the well-known stock and crypto broker famed for its broad retail user base.

As a result of the integration, liquidity providers and traders are increasingly shifting from centralized exchanges to on-chain venues like Uniswap, seeking greater transparency and control over their assets.

With Uniswap’s technology combined with Robinhood’s large customer base, the number of active traders has exceeded 220,000 on Robinhood Chain in just a week.

The deepening link between these entities is allowing retail investors to access DeFi trading tools within a familiar brokerage platform, signaling a potential shift in how mainstream investors engage with crypto markets.

Mini dictionary: Robinhood Chain is a blockchain platform developed by Robinhood Markets to facilitate fast, low-cost digital asset transfers and DeFi applications within its retail trading ecosystem.

Strategic and industry implicationsIndustry observers state that this trend reflects a growing convergence between traditional finance (TradFi) and decentralized finance (DeFi). The integration could help regulated investment firms and high-net-worth individuals discover crypto opportunities, while staying compliant with regulations via the brokerage’s custody and compliance tools.

For developers and projects building on Robinhood Chain, the partnership creates new potential for wallet aggregation, compliance solutions, and additional user-facing services.

Decentralized and centralized exchanges alike may now seek stronger collaboration models with distribution platforms, facing pressure to move beyond organic user growth strategies to stay competitive.

WeekActive traders on Uniswap (Robinhood Chain)Cumulative trading volume (USD)Previous week~22,000~$100 millionThis week220,000~$1 billionNext steps: Growth, regulation, and platform evolutionAs investment services are integrated into more apps and “app-chains” become prevalent in 2026, the Robinhood-Uniswap partnership is attracting the attention of both users and regulators. Regulatory challenges, such as safeguarding client funds and executing trades when automated market makers (AMMs) are in use, remain in focus for authorities and platforms alike.

Looking ahead, Uniswap aims to expand its user base while Robinhood seeks to further develop its crypto offerings. Liquidity providers are assessing fee structures and economic incentives as on-chain activity scales up.

Uniswap’s success in retaining new users, and Robinhood’s roadmap for supporting more assets or stablecoins on Robinhood Chain, may set the pace for brokerage-DeFi integration across the industry.

Should trading retention stay strong, the partnership could establish a new standard for brokerage and decentralized exchange collaboration in crypto markets.

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.

https://readi.fi/news/blackrock-expands-tokenized-buidl-fund-across-new-blockchains/

BlackRock’s BUIDL, a tokenized U.S. Treasury money market fund on the Avalanche blockchain, has reached over $900 million in assets under management (AUM). This notable increase, from approximately $464 million just a week ago, highlights a significant surge in institutional interest in tokenized assets on Avalanche. The BUIDL fund, maintaining a stable value of $1.00 per token with daily accrued dividends, has become the largest tokenized treasury product on-chain and the biggest real-world asset (RWA) on Avalanche. This development underscores Avalanche’s rising prominence as a key player in the institutional tokenization sector, second only to Ethereum in terms of BUIDL’s AUM.

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Key Takeaways BlackRock’s BUIDL fund on Avalanche has seen its AUM increase from $464 million to over $900 million within a week. The rapid growth in BUIDL’s AUM suggests accelerating institutional adoption of Avalanche for tokenized assets. Avalanche is now the second-largest blockchain for BUIDL by AUM, reinforcing its role as a leading institutional tokenization venue. What to Watch The surge in BUIDL’s AUM could indicate broader institutional adoption of blockchain-based financial products, potentially influencing Ethereum price predictions. Market participants may monitor whether this trend continues and if other blockchains follow suit in attracting large institutional investments. Observers will also be keen to see if BlackRock’s growing involvement in tokenized assets impacts Ethereum-related markets and if similar trends develop within the Ethereum ecosystem.

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Term Structure

Contract Odds Δ since publish Volume 24h August 1 2026 59.5% — — View market → August 1 2026 3.2% — — View market → August 1 2026 30% — — View market → August 1 2026 6% — — View market → August 1 2026 2.2% — — View market → August 1 2026 0.1% — — View market → August 1 2026 14% — — View market → August 1 2026 13% — — View market → August 1 2026 1.6% — — View market → August 1 2026 2.8% — — View market → August 1 2026 4.2% — — View market → August 1 2026 6.6% — — View market → August 1 2026 0.3% — — View market → August 1 2026 0.2% — — View market → August 1 2026 0.4% — — View market → August 1 2026 0.9% — — View market → August 1 2026 59.5% — — View market →

PANews, July 12 news, according to CoinDesk report, the stablecoin market in June saw its largest pullback in recent years, with total market cap shrinking by $7.7 billion that month, the biggest single-month decline since the Terra-Luna collapse in May 2022. Since the peak in May, the stablecoin market has cumulatively shrunk by about $10 billion, with a total market cap decline of about 3%. Among them, two major stablecoin issuers were the main drivers of this pullback. The market cap of USDT issued by Tether fell from about $190 billion in May to $184 billion, a decrease of about $6 billion; USDC issued by Circle retreated from a peak of nearly $80 billion in March 2026 to about $73 billion, a contraction of about $7 billion.

However, compared with the cumulative decline of over 26% in the stablecoin market during the crypto winter of 2022, the magnitude of this round of adjustment is still relatively mild. Data shows that from March 2022 to September 2023, the total market cap of major stablecoins fell from about $166 billion to $122 billion, during which the TerraUSD crash, FTX bankruptcy, and failures of multiple crypto lending institutions severely hit market liquidity.

Despite overall market pressure, the competitive landscape of the stablecoin industry is changing. As regulatory developments like the U.S. GENIUS Act drive the expansion of stablecoins into payment and settlement scenarios, more issuers are entering the fray. The circulation of USDG, issued by Paxos and supported by institutions such as Robinhood, has exceeded $3.2 billion, while the circulation of USDGO launched by Anchorage Digital and Hong Kong's OSL Group has nearly doubled to $900 million.

Wall Street institutions remain optimistic about the long-term prospects of stablecoins. Citi previously estimated that the global stablecoin market size would reach $1.9 trillion under a base-case scenario and $4 trillion under an optimistic scenario by 2030; Standard Chartered Bank predicts that the stablecoin market size will grow to $2 trillion by 2028. Analysts point out that stablecoin supply growth has historically been one of the important drivers of a crypto bull market, while the current overall supply contraction means reduced new on-chain liquidity. Without support from new capital demand, the difficulty for crypto assets to sustain their rise may increase.

TL;DR Stablecoin market capitalization fell by about $10 billion from its May peak, with June recording the biggest monthly dollar decline since the 2022 Terra crash. USDT’s supply dropped from around $190 billion to $184 billion, while USDC declined to approximately $73 billion, leading the overall contraction. Despite the headline decline, the stablecoin market shrank by only about 3%, indicating that most of the sector’s recent growth remains intact. Even as stablecoin supply declined, tokenized real-world assets reached new highs. The stablecoin market has recorded its largest monthly contraction since the collapse of TerraUSD in 2022, with total market capitalization falling by roughly $10 billion from its May peak. 

While the decline has raised concerns about liquidity across the digital asset market, analysts note that the overall contraction remains relatively modest at around 3%, suggesting the sector continues to retain most of the gains accumulated over the past year. 

The retreat comes as crypto markets navigate weaker investor sentiment, persistent ETF outflows, and heightened macroeconomic uncertainty that has weighed on demand for digital assets.

Tether’s USDT, the world’s largest stablecoin, accounted for much of the decline, with its circulating supply falling from roughly $190 billion to $184 billion. USDC also contracted, dropping to around $73 billion during the same period. Together, the two dominant dollar-backed stablecoins represent the overwhelming majority of on-chain liquidity used across centralized and decentralized crypto markets. 

Stablecoin Data | Source: X Although the market lost billions of dollars in capitalization, the overall decline represented only a small percentage of the sector’s total value, highlighting that stablecoin adoption remains significantly higher than it was before the recent expansion cycle.

Stablecoin Market Liquidity Concerns Return to The Spotlight Stablecoins are widely viewed as the primary source of liquidity within the cryptocurrency ecosystem because they are commonly used to enter and exit positions without converting back into traditional fiat currencies.

A shrinking stablecoin supply is often interpreted as a sign that capital is leaving digital asset markets or remaining on the sidelines. The combined supply of USDT and USDC had been falling since early May, reflecting weaker on-chain liquidity during a period marked by declining crypto prices and softer institutional inflows. 

The reduction also coincided with several weeks of net outflows from U.S. spot Bitcoin exchange-traded funds, reinforcing concerns that investor demand cooled during June.

Despite the decline in supply, trading activity remained relatively resilient. Stablecoin trading volume on centralized exchanges rose 10.8% in June to approximately $981 billion, marking the first monthly increase in five months. The increase suggests that stablecoins continue to play a central role in crypto trading even as total circulating supply contracts. 

Tokenized Assets Continue Expanding While stablecoins experienced their sharpest pullback in years, tokenized real-world assets continued moving in the opposite direction.

Recent data found that the total market capitalization of tokenized assets climbed to a record $30.1 billion in June, driven by continued growth in tokenized U.S. Treasuries and public equities. Tokenized Treasury products alone expanded to approximately $17 billion, while tokenized equity trading volumes surged to fresh highs during the month.

The contrasting trends suggest that although short-term liquidity has weakened, institutional interest in blockchain-based financial infrastructure continues to grow.

The broader stablecoin sector is also benefiting from increasing regulatory clarity. Recent developments include new licensing approvals for major issuers and expanding institutional support for dollar-backed digital assets. 

Circle, the issuer of USDC, recently received approval to operate as a federally regulated trust bank in the United States, allowing it to directly oversee reserves backing its stablecoin as it now dominates over USDT. The move reflects growing integration between traditional finance and digital asset infrastructure despite the recent market slowdown. 

Market participants will now be watching whether stablecoin issuance resumes in the coming months. A return to supply growth would likely signal renewed capital entering the crypto ecosystem, while continued contraction could point to a more cautious investment environment during the second half of the year.

TL;DR BlackRock’s BUIDL fund exceeded $900 million in assets on Avalanche after growing by approximately 105% in just one week. The tokenized U.S. Treasury fund now manages around $2.87 billion in total assets, making it one of the world’s largest on-chain Treasury products. Ethereum remains the largest BUIDL deployment, while Solana ranks third, reflecting growing multi-chain adoption of tokenized assets. The milestone highlights accelerating institutional interest in tokenized Treasuries as real-world asset adoption continues to reshape blockchain-based finance. BlackRock’s tokenized U.S. Treasury fund BUIDL has crossed another milestone, with assets on the Avalanche blockchain surpassing $900 million, underscoring the growing institutional appetite for real-world assets (RWAs) on public blockchains. 

Fresh data from RWA.xyz shows the Avalanche allocation more than doubled in just one week, helping lift the fund’s total assets under management (AUM) to approximately $2.87 billion.

The rapid expansion adds to evidence that tokenized Treasuries are becoming one of crypto’s fastest-growing sectors as traditional financial institutions increasingly adopt blockchain infrastructure for cash management and settlement.

Launched in March 2024 by BlackRock in partnership with Securitize, BUIDL invests primarily in short-term U.S. Treasury bills, cash and repurchase agreements while allowing qualified investors to hold fund shares on-chain. Since its debut, the product has expanded beyond Ethereum to several networks, including Avalanche, Solana, Aptos, Arbitrum, Optimism, Polygon and BNB Chain.

According to the latest RWA.xyz figures, Avalanche now hosts roughly $902.7 million of BUIDL assets, representing an increase of about $436 million, or 105%, over the past week. Ethereum remains the largest deployment with just over $1.02 billion, while Solana ranks third with more than $616 million. 

Treasury Product Metrics Data | Source: RWA.XYZ Avalanche strengthens its position in institutional tokenization The sharp rise in BUIDL assets has reinforced Avalanche’s role as one of the leading destinations for tokenized financial products.

Earlier this year, analysts noted that a major allocation into BUIDL pushed Avalanche’s total tokenized asset market above $1 billion, making it the second-largest blockchain for institutional RWAs behind Ethereum. The latest growth suggests that momentum has continued as asset managers seek networks capable of supporting compliant, high-value financial products with lower transaction costs and faster settlement.

Unlike stablecoins, tokenized Treasury funds generate yield from underlying government securities while offering investors the operational benefits of blockchain-based ownership, including near-instant transfers and continuous settlement.

The broader tokenized Treasury market has also expanded rapidly. Industry data indicates that the sector now manages well over $15 billion in on-chain Treasury assets, with BlackRock’s BUIDL remaining among the largest products globally by assets under management, having been recently made available on OKX. 

Institutional adoption continues to reshape crypto markets The latest milestone reflects a broader shift as traditional finance firms increasingly view blockchain networks as infrastructure rather than speculative ecosystems.

Major financial institutions including Franklin Templeton, Janus Henderson, Apollo, and others have introduced tokenized investment products over the past two years, while regulators in several jurisdictions have shown growing support for real-world asset tokenization through clearer digital asset frameworks.

Market observers increasingly see tokenized Treasuries as one of the strongest use cases for blockchain technology because they combine regulated fixed-income products with programmable settlement and improved capital efficiency.

With BUIDL approaching the $3 billion mark and Avalanche emerging as one of its fastest-growing deployment networks, the data suggests institutional capital continues flowing toward tokenized government securities even as broader crypto markets experience periods of volatility. For many analysts, that trend signals that tokenization is evolving from an experimental concept into a core component of modern financial infrastructure.

Widespread Disruption Hits Phantom Users@phantom, one of the most widely used self-custody wallets in the crypto space, suffered a significant service outage on July 11, 2026, leaving thousands of users unable to access their portfolios during peak trading hours. The wallet, which first gained traction through the @Solana $SOL ecosystem before expanding to Ethereum and other networks, acknowledged the problem publicly, confirming that some users were experiencing degraded performance.

The service interruption began during peak trading hours across multiple time zones, affecting users primarily on the Solana and Ethereum networks. Many users reported seeing zero balances or frozen price data across various decentralized applications connected to their Phantom wallets.

According to analysts, the fault originated in Phantom's data-aggregation layer rather than its key storage infrastructure, leaving user funds secure on-chain while exposing weaknesses in functional reliability. In practical terms, that layer sits between the blockchain and the user interface, fetching balances, token prices, and related state to help the wallet display information and draft transactions.

Service Restored, But Questions RemainThe outage began around 13:00 UTC and appeared fixed by 16:40 UTC, hitting Phantom during peak trading hours across Solana and Ethereum. Within hours of the initial incident, Phantom confirmed that its mobile app had returned to normal operation and apologised to affected users.

Over 161 user-submitted outage reports were logged within 24 hours, with confirmed issues spanning the mobile app, Phantom backend, and browser extension.

Repeated outages risk eroding Phantom's market position as users prioritise wallets with consistent access during critical trading windows. While the swift resolution and transparent communication helped contain the fallout, the incident underlines how dependent DeFi activity has become on wallet infrastructure that can falter under pressure. Users wanting to monitor Phantom's service health going forward can check its official status page at status.phantom.com.

Sources:
Phantom Official Status Page - Incident History
StatusGator - Phantom Mobile App Outage Tracker
CryptoRank - Phantom Wallet Outage Report

The U.S.-Iran standoff in the Strait of Hormuz is approaching a dangerous tipping point, with military conflicts escalating anew.

US officials stated that the U.S. military conducted multiple strikes on missile and air defense systems at several sites around the Strait of Hormuz, as well as small vessels belonging to the Iranian Revolutionary Guard Corps (IRGC) an hour ago. Officials from Iran’s Qeshm Island confirmed that local time on Sunday afternoon, the enemy launched 10 to 11 missiles at Qeshm Island; all targeted military facilities, and no casualties were reported in the attack. Earlier, Iran announced it had launched an attack on a U.S. missile base in Kuwait. The ATACMS missile system facility at the U.S. military base in Kuwait was struck, with smoke rising at the scene. Meanwhile, Lebanon’s National News Agency (NNA) reported that Israeli artillery carried out additional shelling in southern Lebanon. Two Israeli shells hit Kafr Tibtin town in Nabatieh District, southern Lebanon. The agency added that the attack originated from Israeli military positions in the occupied border area. In addition, Israel also shelled the town of Zawtar al-Sharqiya near Meifadoun.

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Iran launches an attack on the U.S. missile base in Kuwait.

According to Iran's Mehr News Agency, Iran launched an attack on a US missile base in Kuwait. The ATACMS missile system facility at the US military base in Kuwait was struck, with smoke rising at the scene. Iran's president also noted: "We are engaged in a complex economic war, and successfully overcoming this phase requires the active participation of citizens." Israeli Prime Minister Benjamin Netanyahu stated: "Trump hopes to reach an agreement with Iran, particularly on the nuclear issue, but if Iran fails to abide by its commitments, he will not hesitate to use military force."

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A whale has collateralized 1.56 million kHYPE on the HyperlendX platform, borrowing 1.06 million WHYPE.

According to OnchainLens monitoring, a crypto whale deposited approximately $107.21 million in assets on the HyperlendX platform and borrowed around $70.94 million using this deposit as collateral. The address currently holds 1.56 million kHYPE as collateral, has borrowed 1.06 million WHYPE, with a health factor of 1.31, indicating relatively prudent operations. Additionally, the whale has staked 12,305 HPL.

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During the World Cup, high-frequency sports prediction whale swisstony emerged, with its account notching up over 139,000 predictions and generating nearly $20 million in profits.

Data from prediction market platform Predict.fun shows that top high-frequency sports trader swisstony emerged during the 2026 FIFA World Cup (co-hosted by the U.S., Canada, and Mexico). Since entering the market in July 2025, the whale has generated total profits of $18.648 million, with a single largest profit of $1.2 million, having made a total of 139,304 predictions, and its profit curve has been steadily rising. Its World Cup prediction record is impressive: it excels in contrarian trades when popular odds are overvalued, amassing huge profits through high-frequency, small-margin trades. While average per-trade gains are modest, its stable win rate leads to strong cumulative returns. In June, the whale earned around $9.5 million by contrarian betting on popular teams including England, Spain, and Belgium, briefly becoming the platform’s 5th highest-earning user. Currently, swisstony is focusing on the France vs Spain match on July 14 (local time), placing heavy positions across multiple sub-markets for the game. Its core strategy remains making large volumes of "No" predictions—especially for low-probability exact scores—paired with some handicap and over/under bets. The whale consistently ranks at the top of prediction market monthly profit leaderboards, with a single-day profit exceeding $2 million. Analysts believe swisstony likely uses automated tools or real-time data to assist its trading.

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Data: 48% of Nasdaq 100 constituent stocks have corrected over 20% from their respective peaks, while 64% still trade above their 200-day moving average.

In the Nasdaq 100, 48% of constituent stocks have corrected at least 20% from their respective peaks. This proportion has doubled over the past 12 months, but remains lower than the 60% level recorded before the market bottomed at the end of March, and is still short of the extreme 80% hit during the 2022 bear market. Meanwhile, 64% of constituents are still trading above their 200-day moving average, near the year's highest level — a figure that stood at just 38% before the market bottomed on March 30. The rally in the U.S. stock index is increasingly relying on a small number of stocks for support.

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Analysis: BTC reclaiming the $70,700 level is the primary signal of a trend reversal, with some long-term investors accumulating at lower levels.

Analyst Darkfost points out that Bitcoin trading below the Short-Term Holder (STH) cost base is a hallmark of every bear market cycle. BTC has remained below this level for over nine months. The STH cost base currently stands at $70,700 and has consistently acted as a resistance level. In May, Bitcoin attempted to test the nearby level of roughly $82,000, only to pull back immediately. Since then, the STH cost base has dropped significantly, signaling that some investors have accumulated positions at lower prices, lowering their average holding cost. However, the price has yet to effectively hold above this key level. The analysis notes that a sustained recovery above the STH cost base will mark the first positive signal. Bitcoin is currently trading in a range of $59,000 to $64,000, a notable distance from the $70,700 resistance level. If BTC can later break through and hold above this level effectively, it will mean the entire short-term holder cohort has exited unrealized losses, and market sentiment could shift from bearish defense to structural recovery. Conversely, if resistance persists, the STH cost base will continue to decline, potentially extending the bear market bottoming cycle.

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An 18-year-old is making every defender at the 2026 FIFA World Cup look like they’re standing in quicksand. Lamine Yamal, Barcelona’s teenage phenom, leads the entire tournament with 5.8 successful dribbles per 90 minutes.

Several unofficial fan tokens trading under the ticker $YAMAL have appeared on the Solana blockchain, riding the hype of his performances. None carry endorsement from Yamal, Barcelona, or the Spanish national team. And with market caps typically sitting below $10,000, they’re less “investment opportunity” and more “digital sports memorabilia that nobody asked for.”

Dribbling at a generational level Here’s some context for that 5.8 number. At certain stretches of the tournament, Yamal has averaged as high as 12 successful dribbles per 90 minutes. That figure matches Jay-Jay Okocha’s record from the 1998 World Cup among players who logged over 200 minutes of action.

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Okocha was 25 when he set that mark. Yamal is 18.

The young winger has completed over 30 successful dribbles across the tournament so far. On July 10, 2026, he earned Man of the Match honors in Spain’s 2-1 victory over Belgium, leading his team in both dribble attempts and completions.

From pitch to blockchain Multiple $YAMAL tokens have been minted on Solana, capitalizing on the teenager’s tournament-defining performances. The tokens are entirely speculative. They have no official backing, no utility beyond trading, and no connection to Yamal’s actual brand or likeness rights.

Trading volumes on these tokens have been limited. The sub-$10,000 market caps suggest that even the most degen traders aren’t convinced there’s real upside here.

What this means for investors The $YAMAL tokens themselves are not worth a serious investor’s time. Sub-$10,000 market caps with negligible liquidity mean that even a small buy order can move the price dramatically, and getting out of a position can be nearly impossible when interest evaporates.

For the official fan token market, projects like Chiliz and its Socios platform, Yamal’s dominance is a double-edged sword. On one hand, it proves there’s genuine demand for athlete-linked digital assets. On the other, the proliferation of unofficial tokens on permissionless chains like Solana undercuts the value proposition of licensed, regulated alternatives.

The risk landscape here is straightforward. These unofficial tokens could face legal challenges if rights holders decide to act, their liquidity profiles make them essentially untradeable at scale, and their value is entirely dependent on continued media attention around a single player’s tournament performance.

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

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Venture capital in crypto has rarely been quiet, but the first half of 2026 is shaping up as a period of concentrated aggression from the industry’s biggest names—and a few unexpected ones. According to data compiled by CryptoRank and highlighted in the original report, Coinbase Ventures led all investors by a wide margin, participating in 30 deals through the first six months of the year. It wasn’t just a numbers game. The distribution of deals tells a story about which balance sheets are most willing to keep writing checks while regulatory fights drag on and token prices search for direction.

Animoca Brands posted 19 deals, a16z crypto recorded 18, and Tether landed at 15. After that, a cluster of firms—Castrum Capital, Becker Ventures, and Galaxy—each recorded 10 deals. The list itself doesn’t include deal sizes or sector breakdowns, but the sheer count places Coinbase Ventures in a position it hasn’t occupied so visibly since the last true venture boom. Animoca’s second-place finish is consistent with its expansionist approach to web3 gaming and metaverse infrastructure, while a16z’s 18 deals suggest the firm’s multi-billion-dollar crypto fund remains in deployment mode despite a market that has punished late-stage valuations.

Tether’s quiet venture buildout Tether’s presence in the top four is the variable that changes the narrative. The company that prints the world’s largest dollar-pegged stablecoin has been steadily investing its profits into adjacent infrastructure, energy projects, and now apparently early-stage startups. Fifteen deals in six months is not a passive treasury management exercise. It signals that Tether is building a venture portfolio that could eventually rival dedicated crypto funds in pace and influence. Combined with its push into payment rails and commodity trade finance, Tether is assembling a vertically integrated stack that other stablecoin issuers have not attempted at this scale.

These rankings don’t reveal whether Tether’s activity is concentrated in pre-seed rounds, strategic token deals, or more traditional equity. But the volume alone forces a re-evaluation of the stablecoin issuer’s ambitions. In the same period that Tether was writing 15 checks, Circle Ventures was far less visible. That asymmetry may matter for protocols looking for capital from entities that also control liquidity rails.

What dealers are really buying Transaction counts can obscure as much as they reveal. A high deal count with small check sizes looks different than a concentrated bet on a handful of large rounds. Coinbase Ventures, for its part, has a history of writing relatively small checks into a high volume of early-stage deals, using its exchange ecosystem as a distribution funnel. The strategy makes sense when capital is abundant and founders are fighting for exchange listings, but its durability depends on whether those early bets mature into liquid tokens that can actually be distributed.

The broader institutional appetite for crypto infrastructure has already produced blockbuster deals, such as the $4.2 billion acquisition of Equiniti by Bullish, covered in a recent tokenization roundup. A separate indicator of infrastructure demand comes from Sui, where institutional staking products helped push the token price up 18% in a single day in May, as reported earlier. When VCs sink capital into layer-1 ecosystems and staking infrastructure, they are implicitly betting that these networks will capture the same kind of institutional flow that is now beginning to arrive.

At the same time, deal volume alone doesn’t answer the harder question: how many of these bets are marking-to-market? With limited token liquidity and a secondary market that remains skittish about private valuations, the gap between portfolio mark-ups and realized returns is widening. That tension will become harder to ignore if the deal count stays elevated but exit opportunities don’t materialize.

Regulatory noise, venture continuity The regulatory picture is similarly unsettled. A landmark US crypto bill faces an 11th-hour assault by banking lobbyists just days before a Senate vote, as detailed in this coverage. For venture firms, that kind of brinkmanship makes every deal a bet on political outcomes, not just product-market fit. It is notable, then, that the pace of early-stage crypto investing hasn’t slowed. Either the investors believe the bill will pass in some form, or they’ve already priced in the worst-case regulatory environment.

While VC deal counts reveal where money is flowing, blockchain developer activity provides a measure of organic ecosystem health. In the latest weekly tally, Ethereum, BNB Chain, and Polygon topped the rankings, demonstrating that the ecosystems with the deepest builder communities remain the most resilient, as highlighted in a developer activity analysis. The correlation between high developer counts and sustained VC interest is not perfect, but it is often a leading indicator of where protocols can attract enough engineering talent to ship meaningful upgrades.

For now, the data shows a market where conviction capital is still being deployed, but in a more concentrated and strategic fashion than during the froth of 2021. The firms at the top of the list are not merely throwing darts; they are using their existing platform advantages to create deal flow that smaller funds cannot replicate. Whether that approach generates superior returns over the 2026–2028 cycle is the real metric to watch.

AUTHOR

Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.

Shibarium, Shiba Inu’s layer-2 scaling solution built to enhance transaction speed and lower costs on the Ethereum network, experienced a substantial drop in network activity over the past day. Data from the Shibariumscan explorer showed that the number of daily transactions on the Shibarium blockchain fell sharply from 5,170 on July 10 to 1,280 on July 11, reflecting a 75% decrease within 24 hours.

Volatility and sharp reversals in transaction countThis fall followed a brief surge in on-chain activity. Daily transactions on Shibarium had climbed from 1,120 on July 9 to 5,170 on July 10, marking a 361% increase. However, this rally was short-lived, with the network’s transaction count quickly retreating to 1,280.

A similar pattern was previously observed in mid-June. On June 17, Shibarium’s daily transactions surged by 3,152%, ballooning from 1,160 to 37,730 in one day. The spike did not hold, as transaction volumes dropped back to their usual levels soon after.

DateDaily TransactionsChange (%)July 91,120–July 105,170+361%July 111,280-75%June 161,160–June 1737,730+3,152%Market conditions drive network activityTransaction volumes on blockchains like Shibarium often fluctuate in response to changing market conditions and levels of user engagement. Broadly, participants in the cryptocurrency sector have reduced on-chain activity, waiting for new market catalysts after an extended period of volatility and selling pressure.

It remains unclear which specific factors are driving the current shifts in Shibarium activity. Possible reasons include a decline in active users or the recent completion of significant ecosystem projects.

Mini dictionary: Shibarium is a layer-2 blockchain network designed to increase the speed and efficiency of transactions within the Shiba Inu ecosystem by operating atop the Ethereum network.

Developers continue to build out new infrastructure in the Shibarium environment, suggesting that current transaction data might not accurately represent future user adoption or network growth.

Broader crypto market trendsThe cryptocurrency market is currently experiencing a period of relative calm following months of downward momentum. Many traders have stepped back from on-chain engagement, contributing to the overall decline in blockchain transactions, including on Shibarium.

Despite the slowdown, a stabilization in crypto derivatives trading has been noted. Open interest, which had been falling, has now steadied. Leverage is on the rise while funding rates have turned positive, reflecting some cautious optimism among active traders.

Any significant upward move in token prices will likely require fresh spot market demand to return. As of the latest available data, SHIB, the native token of the Shiba Inu ecosystem, traded at $0.0000043, down 2.43% in the past 24 hours and 1.23% over the past week.

After periods of heightened activity, Shibarium again saw transaction figures fall sharply, in line with broader market cooling effects.

While recent indicators in derivatives markets suggest some stability, most digital assets have yet to signal a clear bottom.

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.

PANews July 12 news, Token Unlocks data shows that tokens such as DBR, ARB, YZY will see large unlocks next week, including:

deBridge (DBR) will unlock approximately 618 million tokens on July 17 at 8:00 am Beijing time, representing about 11.4% of the circulating supply, worth about $10.1 million;

Arbitrum (ARB) will unlock approximately 92.65 million tokens on July 16 at 9:00 pm Beijing time, representing about 1.65% of the circulating supply, worth about $8.5 million;

YZY (YZY) will unlock approximately 20.83 million tokens on July 17 at 11:00 am Beijing time, representing about 4.1% of the circulating supply, worth about $6.1 million;

Starknet (STRK) will unlock approximately 127 million tokens on July 15 at 8:00 am Beijing time, representing about 3.74% of the circulating supply, worth about $3.9 million;

Sei (SEI) will unlock approximately 55.56 million tokens on July 15 at 8:00 pm Beijing time, representing about 0.91% of the circulating supply, worth about $2.8 million.

Economists See Lower Recession Risk: Will Fed Still Hike Interest Rates?

Worldcoin (WLD) has staged a modest recovery in July after a prolonged selloff that wiped out more than 96% of its value from its 2024 all-time high near $11.97. The recent rally lifted the price between 3% and 7%, mirroring an improvement in sentiment across the broader cryptocurrency market. However, analysts remain cautious about declaring a sustainable trend reversal.

Technical signals trigger debate on trend reversalThe latest price action has prompted a split among market observers. Some see early signs of stabilization, while others warn the move may only be a short pause within a larger downtrend. Technical analyst @that1618guy noted a significant bearish divergence on Worldcoin’s weekly Relative Strength Index (RSI) following its recovery from approximately $0.23 to $0.72.

WLD is showing big bearish RSI divergence on the weekly timeframe, which raises further caution about the strength of the ongoing rebound.

The analyst also observed that weekly volatility appears to be easing as WLD retests short-term exponential moving averages. Rather than seeing this as a buying opportunity, the analyst argued momentum has faded, and the absence of a clear market narrative suggests more consolidation is likely before any meaningful surge occurs.

Long-term perspectives point to step-by-step resistanceOther analysts offer a more constructive outlook. Analyst @0xLogicalx suggested that Worldcoin is still in the early phases of establishing a longer-term recovery cycle. Reviewing historical price cycles in the crypto market, the analyst claimed major rallies often progress in stages as assets reclaim key resistance levels one by one.

According to the weekly chart, WLD faces important resistance points around $2.20, $4.15, and $12. With the token currently near $0.40 to $0.42, these levels remain distant and would require multiple successful breakouts to be technically relevant in the coming months.

Price LevelStatus$0.23Previous major low$0.40-$0.42Current trading range$2.20First major resistance$4.15Second resistance$12Long-term resistance/highLiquidation clusters highlight key resistance zonesDerivatives positioning has also attracted attention. Analyst @EsamTrading pointed out that Coinglass’s 30-day liquidation heatmap reveals a concentration of highly leveraged trades between $0.48 and $0.52, especially on the Bybit exchange.

This cluster indicates that a clear breakout above $0.522 with rising volume could open the way toward $0.55 to $0.58, while a rejection near $0.50 to $0.51 may trigger a new wave of selling and push the price back to lower support levels. Price action over the past month ultimately favored the downside scenario, with WLD dropping back to $0.40-$0.42 before showing signs of a new upward attempt.

Bybit is a cryptocurrency derivatives platform popular with traders seeking leverage on major tokens and altcoins.

Mini dictionary: Coinglass, a crypto analytics platform, provides liquidation heatmaps and derivatives trading data for major exchanges.

Indicators send mixed technical signalsBroader technical signals for Worldcoin remain undecided. TradingView’s technical summary now reflects a neutral reading for the token on many timeframes, yet the overall bias on weekly and monthly charts still leans toward Sell-to-Neutral.

The 14-day RSI has stabilized between 40 and 45, close to neutral but tilting toward oversold conditions. This suggests bearish momentum has faded but buyers have not taken solid control. The MACD indicator currently sits near the zero line, implying a lack of clear bullish or bearish direction.

Shorter-term moving averages, such as the 50-day, hover around the $0.40 to $0.50 range, close to where WLD is currently trading. While a “golden cross” remains in place—meaning the 50-day moving average is above the 200-day—analysts warn this technical signal is offset by the ongoing broader downtrend observed since early 2024.

Key price levels in focus as market consolidatesFrom a price structure perspective, the $0.40 level has become the main support zone for traders. Immediate support sits between $0.38 and $0.40, reinforced by recent consolidation activity, with further backup at $0.35 and the previous major low of $0.23.

The main resistance area remains between $0.42 and $0.45, supported by the 30-day simple moving average. A decisive move above this region would improve short-term bullish momentum and could refocus attention on major resistance near $0.70.

Maintaining support above $0.40 while reclaiming the $0.42-$0.45 resistance zone would indicate a stronger recovery, but analysts currently view the uptick as an early attempt rather than a confirmed bullish reversal.

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.

Is a new all-time high possible this year? Some AIs believe so.

It’s that time of the week again, the weekend, in which the regular reader and investor might want to explore something lighter, fun, and more optimistic.

In this article, we will review the price predictions for bitcoin in 2026 made by some of the top AIs: ChatGPT, Gemini, Grok, and Perplexity. Sit back, enjoy, and let’s all hope at least one of the bullish targets below will be reached.

Let’s Be Realistic (but Also Hopeful) Instead of starting with ChatGPT as we usually do in these articles, we will try something different and go for the less popular option, Perplexity. Its realistic take on the matter doesn’t envision a new all-time high, but the upper boundary is close to it: $95,000 to $125,000. Both of these sound quite impressive, given the current market state in which BTC fights for $64,000.

To be able to reach these yearly highs, though, Perplexity noted that several factors have to align: institutional ETF demand has to return, more favorable Fed policy, and renewed risk-on appetite from investors.

Grok’s opinion is largely in agreement, as its range is $90,000 to $120,000. No new all-time high, but still double-digit gains. Aside from the aforementioned factors, it outlined moderate macro improvement, no major recessions, and BTC’s increasing dominance as a store-of-value asset.

As with our similar article for XRP, Gemini was the least bullish. Its realistic targets are between $75,000 and $100,000, and it highlighted the same catalysts as above.

ChatGPT was more specific. It didn’t provide a wide range. Instead, it said that its realistic target for Bitcoin’s highest price in 2026 is $95,000.

You may also like: Bitwise Report: Crypto Fundamentals Are Getting Stronger Despite Third Straight Negative Quarter STRC, SATA Hit Record $10B Monthly Trading High Despite Price Drop Below Par Strategy or Binance: Who’s Sitting on More Unrealized Bitcoin Losses? CryptoQuant Weighs In “This scenario would not require a completely new speculative mania. Bitcoin would need ETF demand to stabilize, corporate buyers to stop reducing their exposure, and macroeconomic conditions to become moderately more supportive,” it said.

All Aboard the Bull Train The other side of the coin sees bitcoin rocketing toward new all-time high levels. In fact, all of the AIs’ bull case predictions envisioned new records this year. ChatGPT, for example, noted that the primary cryptocurrency can jump past $130,000 and peak about five grand above that level.

Gemini’s target was even higher. Google’s AI noted that under extreme conditions, BTC can top at somewhere between $150,000 and $180,000. Grok’s most optimistic scenario predicted a massive rise toward $200,000 or even slightly above. Perplexity joined the $200,000+ narrative, setting a target of $210,000.

However, all AIs agreed that many, many factors would have to align for such high numbers to be even possible. It’s not just the ETFs and easing monetary policy mentioned above. BTC would need an accelerating global economy, peace deals among many of the warring parties, and a sweeping cross-asset bull run, combined with “expanding institutional digital-asset treasuries,” to propel the cryptocurrency toward new peaks.

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Something interesting happened on Solana’s revenue leaderboard. FOMO, a social trading app that barely existed a few weeks ago, flipped both Jupiter and Phantom in 24-hour earnings, according to DefiLlama data. For context, Jupiter is arguably Solana’s most dominant DEX aggregator, and Phantom is the wallet almost every Solana user has installed.

FOMO’s 24-hour revenue has been oscillating between roughly $152K and $225K. Phantom’s equivalent figure ran from around $219K to $235K, while Jupiter’s ranged from approximately $112K to $203K. The windows overlap, which means the flip is not a clean, permanent victory.

What FOMO actually does FOMO blends copy-trading with social engagement, essentially letting users follow other traders and mirror their positions without needing to understand every underlying mechanic.

The app also offers gasless cross-chain swaps, which removes one of the most consistent friction points in DeFi.

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Revenue does not come entirely from Solana activity, either. FOMO earns builder fees from Hyperliquid perpetuals, which diversifies its income base and reduces dependence on any single chain’s activity levels.

The app raised $75 million in a Series B funding round in June 2026.

Why apps keep beating the chain itself In May 2026, Solana applications collectively generated approximately $94 million in revenue, while the chain itself earned around $18.6 million. The apps sitting on top of Solana made roughly five times more money than Solana’s base layer did from the same activity.

FOMO reaching the number seven position among all Solana protocols within a few weeks of launching fits this pattern.

What this means for traders and investors watching the space Jupiter’s core product is aggregation, finding users the best swap route across Solana’s liquidity. Phantom is a wallet, which means it captures fees on swaps routed through its interface. Both are exposed to competition from any product that offers a better or more engaging user experience on top of the same underlying liquidity.

FOMO’s revenue numbers suggest its copy-trading and social feed value proposition is connecting with real users. Revenue in DeFi is hard to fake at scale because it comes directly from user activity, not token emissions or artificially inflated metrics. When a protocol generates $150K to $225K in genuine 24-hour fees, that reflects a meaningful volume of actual transactions.

FOMO’s $75 million Series B gives it significant runway to keep building features and acquiring users alongside a revenue model that already works.

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

Ethena [ENA] has been moving upward since the 8th of July. The altcoin has made a 14.11% move from the $0.072 low on that day to the current market prices of $0.082 after reclaiming the short-term resistance zone at $0.08. However, the token has been falling lower since the attempted rally beyond $0.10 in early June. Despite the recent gains, the downtrend has yet to be broken.

The Robinhood Earn feature, launched on the 1st of July, has also been a big plus for Ethena. The network observed in a post on X that Ethena represented over 70% of the asset allocation from Robinhood user deposits. Ethena seeded $50 million into a USDG vault on Morpho, chosen by Steakhouse Financial. This inflow pushed the Robinhood Chain’s TVL up by 160%.

Contrasted against this positive news for the synthetic dollar protocol was the Whale Alerts post on X that showed a 1.231 billion ENA transfer, worth $94 million, between two unknown wallets.

Using ENA price action to sort out the upcoming trends Source: ENA/USDT on TradingView For an altcoin that is down 94% from its all-time high, the weekly chart is expected to be bearish. The OBV has been making new lows for over two years. The ENA price fell below the $0.19-$0.20 support zone at the start of the year. This support level had been defended since September 2024.

Other momentum indicators were neutral or bearish on this timeframe, and the OBV signaled overall bearish dominance. However, a lower timeframe resistance zone has been breached.

Should ENA traders wait before selling? Source: ENA/USDT on TradingView The 1-day swing structure broke bearishly at the start of June (white). The ongoing price bounce from the 0.08 zone requires the OBV to continue going higher to signal steady buying pressure.

Such a bounce is technically possible, but the broader market sentiment needs to support ENA’s bullish shift, if it comes. Even then, the $0.105 round number and 50% retracement level would be a key resistance zone to overcome.

A bounce to $0.105-$0.125 could be sold with conviction. At current prices, neither buying in expectation of a bounce nor selling ahead of a price slide had a good enough risk-to-reward for swing traders.

Final Summary A $94 million ENA token worth alongside the bullishness around the Robinhood Earn news presented mixed signals for market participants. The long-term price action was bearish, and the $0.105-$0.125 pivotal resistance zone was one to watch.

WSJ Survey: U.S. Recession Probability Drops to 25%, Down From 33% in April

According to survey data from The Wall Street Journal, the probability of a U.S. economic recession has dropped to 25%, down from 33% in April.

10 minutes ago

Commercial shipping traffic through the Hormuz Strait has dropped significantly.

According to reports from China Central Television (CCTV), commercial shipping traffic through the Strait of Hormuz has dropped sharply following Iran’s announcement of the reclosure of the strait. Citing commercial shipping tracking data, Iran stated that only 11 commercial vessels passed through the Strait of Hormuz in the past 24 hours, including 8 oil tankers and 3 cargo ships.

10 minutes ago

Two hackers today spent a total of 11.71 million DAI to buy ETH.

According to Yu Jian Monitoring, two hackers purchased Ethereum today. The first hacker, who stole funds from Coinbase users, spent 7.378 million DAI to acquire 4,049.7 ETH in the early hours of today, at an average price of $1,822. The second is an address that received ETH from Tornado Cash last November; it spent 4.34 million DAI to repurchase 2,405 ETH two hours ago, at an average price of $1,804.

10 minutes ago

Polymarket's weekly revenue topped $11 million this week, hitting an all-time high.

According to Defillama data, Polymarket's weekly revenue exceeded $11 million this week, hitting an all-time high, while the protocol's cumulative revenue has surpassed $97 million.

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Robinhood Chain’s DEX trading volume exceeded $877 million over the past 24 hours, ranking second among all blockchains.

According to DefiLlama data, Robinhood Chain’s 24-hour DEX trading volume hit $877.6 million, ranking second among all blockchains—only trailing Solana’s $1.133 billion, while Ethereum’s mainnet came in third with $778 million in trading volume.

10 minutes ago

The volume of ETH bridged from Ethereum Mainnet to Robinhood Chain has surged roughly tenfold in a week, surpassing $100 million.

According to Token Terminal data, over the past week, the volume of ETH bridged from Ethereum mainnet (L1) to Robinhood Chain (L2) has surged roughly 10-fold, surpassing $100 million. Robinhood Chain uses ETH as its native gas token, as noted. Token Terminal stated that if adoption of the chain continues to grow, it could become a new, significant source of demand for ETH.

10 minutes ago

ZachXBT Explains Why LAB Token Crashed Nearly 100%

Jul 12, 2026, 6:18 a.m.

2 min read

Summary

Bitcoin traded around $63,800 with only slight daily moves despite new U.S. airstrikes on Iran and Tehran’s declaration that it had closed the Strait of Hormuz.Other major cryptocurrencies, including ether, XRP and dogecoin, also saw only fractional price changes, continuing a muted pattern of reaction to Middle East tensions.Markets for oil, stocks and bonds are shut for the weekend, leaving bitcoin as one of the few assets pricing the latest escalation in real time, with a fuller reaction in crude expected when trading resumes Monday.Bitcoin held near $63,800 on Saturday after the U.S. launched its third round of strikes on Iran this week and Tehran declared the Strait of Hormuz closed "until further notice." The largest cryptocurrency was down 0.3% over 24 hours and up 2% on the week.

Vessel-tracking data showed some traffic around the Strait of Hormuz in Asian morning hours Sunday, though movement through the chokepoint remained well below normal.

U.S. Central Command said President Trump ordered the strikes, which targeted Iran's ability to attack commercial vessels, after Iranian forces hit a Cyprus-flagged container ship. Iranian state media reported explosions along the country's southern coast, including the energy hubs of Bushehr and Asalouyeh and the port cities of Bandar Abbas and Bandar-e Dayyer.

Ether was similarly quiet at about $1,800, up 2% on the week. Solana was the weakest of the majors at $76, down 5% over seven days, while XRP slipped to $1.09 and dogecoin eased to about $0.07. The moves across the board were fractions of a percent on the day.

The muted response is the pattern now. When Iran first closed the Strait of Hormuz in early March, Brent crude jumped past $100 a barrel for the first time in four years and later peaked near $120, and bitcoin sold off sharply on each escalation.

Part of that is timing. Oil, equities and bonds are closed for the weekend, so bitcoin is the only large market open to price the strikes in real time, and it is treating them as close to a non-event.

The fuller cross-asset reaction, in crude especially, might not show until Monday. Roughly a fifth of the world's seaborne oil moves through Hormuz, and Brent had already carried a risk premium into the weekend after tanker traffic through the strait stayed below normal.

The real test comes Monday, however, if crude reopens with a sharp gap higher while bitcoin holds its ground. A calmer oil open would say the strait closure is being read as a threat Tehran has made and walked back before.

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Digital Assets: Quarterly Review and Outlook Q2

Digital Assets: Quarterly Review and Outlook Q2

Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.

Jul 10, 2026

Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.

Why it matters:

Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.

WSJ Survey: U.S. Recession Probability Drops to 25%, Down From 33% in April

According to survey data from The Wall Street Journal, the probability of a U.S. economic recession has dropped to 25%, down from 33% in April.

6 minutes ago

Commercial shipping traffic through the Hormuz Strait has dropped significantly.

According to reports from China Central Television (CCTV), commercial shipping traffic through the Strait of Hormuz has dropped sharply following Iran’s announcement of the reclosure of the strait. Citing commercial shipping tracking data, Iran stated that only 11 commercial vessels passed through the Strait of Hormuz in the past 24 hours, including 8 oil tankers and 3 cargo ships.

6 minutes ago

Two hackers today spent a total of 11.71 million DAI to buy ETH.

According to Yu Jian Monitoring, two hackers purchased Ethereum today. The first hacker, who stole funds from Coinbase users, spent 7.378 million DAI to acquire 4,049.7 ETH in the early hours of today, at an average price of $1,822. The second is an address that received ETH from Tornado Cash last November; it spent 4.34 million DAI to repurchase 2,405 ETH two hours ago, at an average price of $1,804.

6 minutes ago

Polymarket's weekly revenue topped $11 million this week, hitting an all-time high.

According to Defillama data, Polymarket's weekly revenue exceeded $11 million this week, hitting an all-time high, while the protocol's cumulative revenue has surpassed $97 million.

6 minutes ago

Robinhood Chain’s DEX trading volume exceeded $877 million over the past 24 hours, ranking second among all blockchains.

According to DefiLlama data, Robinhood Chain’s 24-hour DEX trading volume hit $877.6 million, ranking second among all blockchains—only trailing Solana’s $1.133 billion, while Ethereum’s mainnet came in third with $778 million in trading volume.

6 minutes ago

The volume of ETH bridged from Ethereum Mainnet to Robinhood Chain has surged roughly tenfold in a week, surpassing $100 million.

According to Token Terminal data, over the past week, the volume of ETH bridged from Ethereum mainnet (L1) to Robinhood Chain (L2) has surged roughly 10-fold, surpassing $100 million. Robinhood Chain uses ETH as its native gas token, as noted. Token Terminal stated that if adoption of the chain continues to grow, it could become a new, significant source of demand for ETH.

6 minutes ago