The boundaries between a crypto card and a DeFi yield aggregator are dissolving. Plasma One has introduced a stablecoin account that marries fee-free USDT spending with a cashback token and yield sourced directly from Aave, the largest lending protocol in decentralized finance.
According to the product launch details, the offering includes three membership tiers—Lite, Core, and Platinum—each unlocking higher XPL cashback rates on card transactions. The account is built around USDT0, a wrapped version of the USDT stablecoin that taps into Aave’s yield-generating markets. Plasma One is clear that it does not operate as a bank and that none of the balances enjoy deposit insurance protections. Yields are not fixed; they mirror the fluctuating rates on Aave’s lending pools.
How the Tiered Structure Works Users can earn XPL rewards on everyday spending while their idle stablecoins sit in Aave earning interest. The Lite tier is designed for casual users, offering a basic cashback percentage. Core and Platinum tiers raise the reward rate and bundle additional benefits, though specifics were not broken down in the initial material. The structure encourages users to hold more XPL or lock in higher deposits to climb tiers, creating an internal token economy that rewards loyalty.
Unlike a traditional bank account, the yield component comes entirely from decentralized finance. Plasma One routes deposits into Aave’s USDT0 market, which has historically offered annualized yields that range widely depending on supply and demand for stablecoin borrowing. During periods of high lending demand on Aave, yields can spike; when liquidity is flush, returns compress. This variability makes the product resemble a hybrid between a checking account and a liquidity provision strategy.
The Yield and the Risk The absence of deposit insurance is the most obvious difference from conventional banking. Plasma One explicitly warns that customer funds are not protected by any government-backed scheme. In practice, users bear smart contract risk from Aave, the custodian managing the card and wallets, and any bridges or wrapping mechanisms used to convert USDT into USDT0. While Aave has undergone multiple security audits and manages billions in total value locked, no DeFi protocol is immune to exploits or cascading liquidations.
This setup arrives at a time when regulators in the U.S. and elsewhere are wrestling with how to classify yield-bearing stablecoin products. A major crypto market structure bill is facing last-minute opposition from traditional banks, threatening the legislative clarity that would define which federal agency oversees products like Plasma One’s account. Without that framework, the offering occupies a grey zone—too crypto-native for banking regulators and too bank-like for securities regulators to ignore indefinitely.
Stablecoin Adoption Meets DeFi Distribution Plasma One’s move reflects a broader shift in how stablecoin issuers and fintech platforms are integrating DeFi rails. Rather than building proprietary yield strategies in the background like centralized lenders once did, newer products are simply surfacing on-chain money markets directly to consumers. This approach is more transparent—users can verify on-chain where yield comes from—but it also exposes them more directly to protocol-level risks that were previously hidden inside companies like Celsius or BlockFi.
The product also underscores the evolution of stablecoins from a trading-settlement instrument into a medium of exchange with built-in rewards. As card networks, payment processors, and mobile wallets support stablecoin transactions, accounts that merge spending with yield could attract users who would otherwise park funds in low-interest traditional accounts. However, the lack of deposit insurance remains a psychological hurdle for mass adoption.
The tokenized asset ecosystem is expanding rapidly. In just one week, the total value of real-world assets on-chain crossed $20 billion, driven by treasury tokenization and institutional settlement. Stablecoin accounts that route yield through protocols like Aave fit squarely into that trend, serving as a retail-facing distribution channel for on-chain fixed-income products.
The on-chain layer benefits from blockchains that continue to attract the highest developer activity. Ethereum and Polygon, for example, consistently top weekly rankings, which supports the security and innovation of the DeFi protocols that Plasma One relies upon.
What Comes Next Market observers will be watching whether Plasma One’s tiered rewards model can generate enough swipe volume and deposit stickiness to sustain the XPL token economy. The variable nature of Aave yields means the account competes not only with traditional savings accounts but also with other DeFi yield products that may offer higher returns for similar risk. Much depends on how the company curates the user experience—if depositing and spending feel close to a regular bank app, the lack of deposit insurance may fade for a segment of crypto-native consumers.
Still, the product exemplifies the ongoing convergence of fintech and DeFi, where a card, a token, and a money market are packed into one interface. The lack of a regulatory safety net is both a feature and a warning. While Plasma One is not a bank, its success or failure will be closely scanned by lawmakers weighing how to govern the next generation of stablecoin-powered financial products.
AUTHOR
Freelance writer and crypto enthusiast with a focus on Web3, delivering clear and engaging articles. Known for his well-researched articles and insightful analysis, Shayan covers a broad range of topics including market trends, blockchain technology, decentralized finance (DeFi), and emerging crypto projects. His writing aims to educate both beginners and experts, providing clear, engaging content that helps readers stay informed about the fast-evolving crypto space. Shayan's expertise and dedication make him a trusted voice in the blockchain community.
A new proposal, Solstice, aims to make one of the most significant changes to Filecoin’s reward system since the network launched. It would reshape how storage providers earn rewards and how the network supports services that bring paying customers and data to Filecoin.
The basic idea is straightforward: instead of requiring providers to complete a special approval process to earn higher rewards, network consensus providers would receive full rewards automatically. At the same time, a portion of block rewards would be programmatically directed toward the services that attract customers, onboard data, and work directly with storage providers.
The Filecoin Improvement Proposal (FIP) 0118 is still a draft and is open for community feedback at: Create fip 0118-solstice.md by irenegia · Pull Request #1270 · filecoin-project/FIPs
Background on the Current System Today, Filecoin uses a program called Filecoin Plus, or Fil+. The original goal was to reward storage providers for storing useful, verified data rather than simply adding empty capacity to the network.
In practice, Fil+ has introduced a significant amount of operational overhead. To qualify for enhanced rewards, clients need to apply for datacap, which acts as a credit confirming that their data is legitimate. That process involves reviews, approvals, and compliance checks.
Over time, this has made the onboarding sectors pipeline slower and more complex. It has also created opportunities for gaming. The FIP 0118 argues that Fil+ verification has become a weak signal of useful data, so rewards do not always reach the storage providers creating the most value for the network.
Solstice builds on what Fil+ set out to do, rewarding useful storage, and replaces the verification step with a direct signal of customer activity: onchain payment volume. It supports both sides of the marketplace. Storage providers keep earning block rewards for securing and supplying storage, while a share of rewards goes to the services bringing paying customers to the network.
What Would Change The proposal introduces two major changes.
First, the Fil+ system would be removed. Every new sector onboards on equal footing, earning consensus rewards in proportion to the storage it commits, with no verified and unverified tiers. Existing sectors keep their current power and terms.
Second, a portion of Filecoin's block rewards would automatically be redirected to fund services that help drive paid network usage. Today, block rewards go entirely to the storage provider that wins the block. Under Solstice, part of that reward would instead go to a new role in the network, Service Orchestrators, who are responsible for bringing paying customers to the Filecoin network.
In simple terms, miners continue earning rewards for providing consensus and securing the storage network, while a portion of rewards would also fund the sales, service, and integration layer that brings more paying customers to the network. More demand means more value flowing to the providers already serving it.
The Opportunity for Storage Providers The timing of this proposal matters as much as the mechanics. Several forces are converging in the broader market right now, that point toward exactly the kind of infrastructure Filecoin storage providers have already built.
Data growth is outpacing centralized infrastructure. AI, enterprise, and machine-generated workloads are driving demand beyond available cloud capacity and into new geographies, while power grid constraints delay roughly one fifth of planned data center development. The same AI adoption is also shifting what buyers need from storage: verifiability, provenance, and durability, not capacity alone. Filecoin answers both. Its global network of independent providers added more than 59 PiB of raw storage in a single day, and its cryptographic proofs verify what is stored and that it stays stored.
These trends are already producing real deals. Aurora, an SP, is deploying Filecoin-powered storage across 100 megawatt AI compute data centers in Europe, built for multi-petabyte workloads. 375ai and Akave, another SP using Filecoin, with edge infrastructure across more than 40,000 retail, industrial, and logistics locations in the United States, is using Filecoin backed storage as the durability layer for its verifiable AI data pipeline.
What Solstice does is give the network, for the first time, a protocol level mechanism to reward the service layer that captures this demand. The service stream creates funding that rewards one measurable thing: bringing paying customers to Filecoin and routing their workloads to storage providers. For storage providers, that means the go-to-market work gets done by specialists at scale, keeping them focused on operating their infrastructure, and subsidized by the block reward.
For more on the macro tailwinds shaping this moment, see: Why Macro Trends Are Moving in Filecoin's Favor.
Governance Tiers and Functions Solstice introduces two new governed contracts, the Stream Weights Actor and the Service Rewards Actor, that parameterize the built-in reward actor (f02), which does the actual splitting.
Stream Weights Actor (SWA). The SWA controls how each block reward is divided among streams. At launch there are two: the consensus stream, paid to the winning miner each epoch, and the service stream, paid to registered Orchestrators. The SWA manages the weight schedule: consensus share ramps from 95% down to a 50% floor, and service share steps up from 5% in 5 percentage point increments, but only when quarterly on-chain Filecoin Pay volume clears a verifiable USD target. Whatever share leaves consensus but has not been earned by the service stream is burned. Every discretionary SWA change requires a published FIP, sign-off from both Safes operating the first decision-making surface, and a seven day hold enforced at the L1. f02 itself queues and delays the write, so no weight can shift without the community having time to see and object. Gate step-ups are mechanism-executed and not cancellable.
Service Rewards Actor (SRA). The SRA determines how the service stream is split among registered Orchestrators. Each quarter it computes each Orchestrator's share from their verified Filecoin Pay volume and writes the wallet-to-share map directly into f02, which pays each Orchestrator wallet every epoch. The SRA never holds funds and is never on the value path. It also maintains the Orchestrator registry: which entities are admitted, which (payer, operator) pairs are attributed to each Orchestrator, and which stablecoin and Filecoin Pay contract addresses count toward volume. Registry changes require both Safes operating the second decision-making surface and a cancellation hold, but no FIP.
Service Orchestrators. Orchestrators are the registered entities whose on-chain payment activity drives the service stream. Their protocol interaction is narrow: they register the (payer, operator) pairs whose Filecoin Pay volume counts toward them, post their quarterly volume figure to the SRA in stablecoin and FIL components recomputable by anyone from public settlement events, and receive their share of the service stream each epoch directly from f02. They are not a decision-making surface. At launch a single Orchestrator is registered; the second decision-making surface can admit more over time, with permissionless registration as the Phase 2 goal.
Together: f02 splits every block reward by the current weights; the SWA sets those weights and governs when the service share can grow; the SRA determines how that share is divided based on measured volume; and Orchestrators generate the client demand that justifies the funding increasing over time.
What This Means for Storage Providers Storage providers are the direct beneficiaries as Filecoin’s service economy grows. The shift Solstice makes is about accelerating the demand side of the network that makes providing storage capacity on the network highly attractive.
The most significant community-advocated change is that the Fil+ system goes away. No more datacap applications, allocator reviews, or compliance overhead. Every sector onboards on equal footing with full rewards from day one. For providers who have spent years navigating that pipeline, this alone is a meaningful operational improvement.
The bigger opportunity is what the service stream funds. As that client pipeline grows, so do the deals and direct revenue storage providers earn from serving real customers. Revenue for storage providers increases because paying customers are coming to the network.
For providers running newer storage proof systems; such as Proof of Data Possession (PDP) for hot data and retrieval workloads; Solstice removes a meaningful barrier. Service funding is not tied to any specific proof system. Whether a storage provider runs PoRep, PDP, or whatever the market demands, the incentive structure accommodates it.
At launch the service portion is 5% of each block reward, with 95% flowing directly to miners as the consensus share. Over roughly nine quarters the consensus share steps down on a published schedule toward a 50% floor, opening up more room for service funding. That room does not fill automatically: the service portion steps up only when payment volume flowing through Filecoin Pay clears a verifiable on-chain target for that quarter. When the target is met the step-up executes automatically, no governance approval required. When it is not, the service portion holds and the gap is burned, permanently removing those tokens from supply.
This means the burn rate is directly tied to revenue: as the network wins more real paying business, more of the issuance flows to service funding and less is burned. Every step up is therefore evidence that the revenue opportunity for SPs is growing alongside it, and every missed step tightens supply instead of distributing funds the network has not yet earned.
Read the full proposal at Create fip 0118-solstice.md by irenegia · Pull Request #1270 · filecoin-project/FIPs. The discussion is open until later this month. After the feedback period, the authors will incorporate community input into the draft and progress through the FIP process.
@Uniswap recorded $16.6 billion in trading volume over the past seven days, more than the next four decentralized exchanges combined, according to DefiLlama data. The figure cements its position as the dominant force in decentralized trading by a margin that rivals struggle to meaningfully close.
The Rankings at a Glance@PancakeSwap holds second place with $3.79 billion in weekly volume, followed by @Pumpfun at $2.64 billion, @AerodromeFi at $2.5 billion, and @ManifestTrade at $1.11 billion. Combined, those four protocols account for roughly $10 billion, still well short of Uniswap's single-protocol total. Across the top five, @Uniswap commands approximately 62% of all volume.
What makes the gap more striking is the structural context. @Uniswap operates across 47 chains, giving it a breadth that few protocols can match. @AerodromeFi and @Pumpfun each run on a single chain and still managed to crack the top four, a sign that concentrated liquidity and strong product-market fit can carry significant weight even without multi-chain reach.
A Growing Market, One Clear LeaderTotal DEX volume across all protocols rose 7.41% on the week, pointing to broad-based growth rather than a simple shift of liquidity toward Uniswap. Protocols like Uniswap that operate across multiple contract versions, such as V2, V3, and V4, typically report aggregate figures combining activity across all active deployments, which contributes to the scale of its headline number.
Platforms like DefiLlama provide near-real-time aggregation across hundreds of protocols simultaneously, making the weekly rankings one of the most closely watched indicators of momentum in decentralized finance. Each trade recorded in DEX volume represents real capital committed to a swap, and unlike centralized exchange volume, which can include synthetic or wash-traded activity, DEX volume reflects genuine on-chain economic activity.
The concentration of volume at the top of the DEX rankings raises a straightforward question for the rest of the market: with @Uniswap entrenched across nearly every major chain and its multi-version architecture drawing liquidity at scale, closing that gap will require more than incremental improvements from challengers.
Sources
DefiLlama: DEX Volume Rankings
The Block: DEX Analytics and Market Share
Soccer’s biggest prize is getting a very American upgrade. FIFA announced that the winner of the 2026 World Cup final will receive championship rings, the kind of hardware previously reserved for Super Bowl champions and NBA title-holders. It marks the first time in FIFA’s history that the organization has issued rings for its world champions, and the timing is not subtle: the final is being played at MetLife Stadium in New Jersey, the same building that hosted Super Bowl XLVIII.
Spain and Argentina meet in the final on July 19, and beyond the trophy, the winning squad and staff will receive 30 custom-made rings. The remaining 1,996 rings, part of a total production run of exactly 2,026 pieces in a nod to the tournament year, will be sold as licensed replicas to fans willing to pay for a piece of history.
The ring itself, and what FIFA is actually selling The design features the World Cup trophy on one face, with team-specific engravings on the opposite side. A temporary ring will be presented to the winning captain and coach immediately after the final whistle.
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The fan replica program produces 1,996 purchasable rings, creating artificial scarcity around what is essentially licensed merchandise. Whether those rings hold resale value depends almost entirely on which team wins, a dynamic that makes the Argentina vs. Spain matchup financially consequential for ring buyers in a way that goes beyond pure fandom.
FIFA’s crypto infrastructure is bigger than the rings Kraken, the crypto exchange, was announced as the official cryptocurrency exchange supporter of the 2026 World Cup on June 9, 2026. The partnership includes fan activations and promotions across North America and Europe.
Avalanche’s blockchain underpins FIFA’s custom blockchain platform, which has already issued over 100,000 ticket rights generating more than $25 million in volume. FIFA used blockchain-based ticketing specifically to address scalping, putting verifiable ownership on-chain so that resale activity becomes traceable and controllable.
The memecoin problem, and what it means for crypto investors Predictably, the tournament has also spawned a wave of unofficial tokens. WORLDCUP, W26, and national team tokens including ARG have launched in the buildup to the final. None of these have any affiliation with FIFA, Kraken, or any official tournament entity.
For investors, the risk profile here is straightforward. Official partners like Kraken have regulatory standing, balance sheets, and reputational skin in the game. Unofficial tokens have none of those things, and the pseudonymous teams behind them face essentially no consequences for exit-scamming a community that formed around a soccer tournament.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
In Lima’s sprawling Gamarra textile district, vendors can barely keep up with demand for Argentina and Spain national team jerseys ahead of the 2026 FIFA World Cup final. Replica shirts are selling for as little as 28 soles, roughly $7.50 USD, in what amounts to a ground-level indicator of just how much commercial energy a single soccer match can generate.
The final between Argentina and Spain is set for July 19, 2026, at MetLife Stadium in New York/New Jersey.
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Gamarra’s jersey economy meets FIFA’s digital ambitions Local vendors are offering cotton-blend jerseys starting at 28 soles per unit, with bulk pricing dropping to around 26 soles. Customization is part of the pitch, with sellers inviting buyers to send designs via WhatsApp for personalized shirts.
Argentina and Spain have emerged as the top-selling teams not just in Gamarra but globally, with millions of jerseys moving during the tournament cycle.
FIFA Collect and the Avalanche connection FIFA Collect, the governing body’s digital collectibles platform, is built on Avalanche blockchain technology. The platform enables fans to buy, sell, and trade NFTs tied to World Cup moments, players, and memorabilia. The platform has introduced “Right-to-Buy” digital tokens that grant holders priority access to purchase match tickets.
The selection of Kraken as the official crypto exchange partner for the tournament adds another layer. Kraken’s role extends beyond branding, positioning the exchange as the default on-ramp for fans who want to participate in FIFA’s digital economy.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
France and England will square off on July 18 at 16:00 local time in Peru for the FIFA World Cup 2026 third-place match. Two European heavyweights, both bounced from the semifinals, both looking to salvage some silverware from a tournament that almost went their way.
Spain eliminated France. Argentina knocked out England.
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Crypto’s seat at the World Cup table Kraken became the Official Crypto Exchange Supporter of FIFA for the 2026 World Cup, a first in the tournament’s history. Avalanche powers the FIFA Collect platform, which handles digital collectibles and NFT-based ticketing for the tournament. Chainlink’s oracle technology feeds real-time data into prediction markets for every World Cup match. The ADI Predictstreet platform relies on Chainlink oracles to settle outcomes, making sure that when someone bets on France to win, the result is verified on-chain without a middleman calling the shots.
Prediction markets are having their moment The France-England matchup has already lit up Polymarket, which features dedicated markets for the third-place clash. France is listed as a slight favorite, which tracks given their deeper recent World Cup pedigree. As teams advanced through the knockout stages, trading activity on platforms like Polymarket surged in direct correlation with the tournament’s drama.
Fan tokens and the Chiliz effect Chiliz, the blockchain platform that pioneered the concept of tokenized fan engagement, has seen increased trading activity tied to World Cup sentiment. Fan tokens let supporters vote on minor club decisions, access exclusive content, and signal allegiance in a way that’s both financial and cultural.
What this means for investors The crypto assets most directly exposed to this World Cup cycle are AVAX, LINK, and CHZ. AVAX gets a boost from the FIFA Collect platform’s usage. Every digital collectible minted, every NFT ticket scanned, adds transaction volume to the Avalanche network. LINK’s value proposition here is more structural — the World Cup demonstrates Chainlink’s ability to handle high-profile, time-sensitive data feeds at scale. Kraken’s FIFA sponsorship places a crypto exchange alongside traditional sponsors like Coca-Cola and Adidas on FIFA’s official partner list.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The streets of Mataró, a neighborhood in the Barcelona region, are buzzing. Their kid, Lamine Yamal, is about to play in a World Cup final. And somewhere on the Solana blockchain, opportunistic token creators are buzzing too, for entirely different reasons.
Spain’s matchup against Argentina in the 2026 FIFA World Cup final has turned Yamal into the story of the tournament. A teenage winger going head-to-head with Lionel Messi on the biggest stage in football.
From the pitch to the blockchain Multiple unofficial tokens trading under variants of the $YAMAL ticker have appeared on Solana, riding the wave of excitement around Spain’s World Cup run. None of them are endorsed by Yamal, FC Barcelona, or the Spanish Football Association.
Their market caps tell the story. We’re talking roughly $1.8K to $5K per token. The liquidity is essentially nonexistent, meaning anyone who buys in could find it nearly impossible to sell without taking a significant loss.
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The neighborhood that raised a star Yamal has led the tournament’s knockout stage in dribbles, a stat that captures his playing style perfectly.
The World Cup final pits him directly against Messi, who spent over two decades at FC Barcelona, the same club where Yamal now stars. A viral photo from years past showing a young Yamal in Messi’s arms adds a full-circle dimension that football fans have widely noted.
For Mataró, this is a community moment. Residents who watched Yamal grow up are seeing one of their own compete at the highest level of the sport.
Why crypto traders should care (and be careful) The unauthorized $YAMAL tokens are worth examining because they represent a persistent and growing phenomenon at the intersection of sports culture and speculative crypto trading.
The infrastructure for launching tokens on Solana has become so frictionless that anyone can spin up a new coin in minutes. It means the gap between a viral sports moment and a potential rug pull is measured in hours, not days.
The absence of any official digital asset from Yamal, Barcelona, or the Spanish national team is telling. No official digital assets or tokens linked to Yamal or FC Barcelona have been announced, highlighting the purely community-driven nature of these tokens.
For retail traders tempted by these micro-cap tokens, the math is brutal. With market caps in the low thousands, even a modest buy order can spike the price, creating the illusion of momentum. But there’s no one on the other side of that trade when you want to exit.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
ETRADE from Morgan Stanley (NYSE:MS) has officially enabled direct cryptocurrency trading, allowing eligible U.S. clients to buy, sell, and hold Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) within their brokerage accounts.
This launch integrates digital assets seamlessly alongside traditional holdings such as stocks, ETFs, and mutual funds, marking a significant expansion of retail access through a trusted Wall Street platform.
Clients link a dedicated zerohash-powered crypto account to their existing ETRADE brokerage account (or open both together). Funds move automatically between the accounts to support trades, eliminating the need for separate transfers in most cases.
The service supports 24/7 trading on the ETRADE website and mobile app, with market and limit orders available. Power E*TRADE platforms will gain support soon.
Pricing emphasizes competitiveness: a flat 0.50% (50 basis points) commission on the notional trade value, with no additional spreads or markups.
This structure positions E*TRADE favorably against many standalone crypto platforms.
Minimum trade size starts at $10 and goes up to $500,000 per transaction.
Users can specify amounts in USD or coin quantity (including fractions up to eight decimal places).
The offering relies on zerohash for execution, liquidity, and secure custody, while E*TRADE handles the client-facing experience. zerohash maintains high security standards, including encryption and vulnerability programs, though crypto holdings fall outside traditional FDIC or SIPC protections and carry distinct regulatory considerations.
A 1099-DA form will report tax information. This rollout builds on Morgan Stanley’s broader digital asset strategy. The firm has offered crypto-related products to wealth management clients for years and recently introduced its own spot Bitcoin ETF.
Future enhancements may include crypto transfers into accounts and deeper wallet functionality.
Educational resources from Morgan Stanley experts, covering market insights, long-term Bitcoin scenarios, and risk management, accompany the launch.
For retail investors, the primary appeal lies in convenience and familiarity. No separate exchange login is required, and portfolios can be viewed holistically through tools like Total Wealth View.
This approach lowers entry barriers for traditional investors exploring cryptocurrencies while maintaining regulatory oversight. Availability is open to US-based clients meeting standard account requirements, though state-specific details align with applicable regulations.
The launch reflects growing institutional integration of digital assets into mainstream finance.
By combining E*TRADE’s robust platform with zerohash’s specialized infrastructure, Morgan Stanley aims to meet rising client demand while competing directly in the retail crypto space.
As adoption evolves, additional tokens and features could further expand the ecosystem. This development reinforces the maturing convergence of traditional brokerage services and cryptocurrency markets, offering a regulated, user-friendly gateway for diversified investing.
Overlooking Long-Term FactorsIn an interview with "When Shift Happened" on July 16, Mumtaz explained that the traders are overlooking developer activity, infrastructure upgrades and long-term network economics.
She added that crypto traders often judge projects through short-term price action while missing the businesses, products and technical improvements developing behind the scenes.
Solana as the Highest-Conviction PickMumtaz called Solana the "obvious choice" for developers building on-chain businesses because it combines speed, liquidity, infrastructure and a growing concentration of startups.
He described Solana as a "global Silicon Valley" where developers can launch payments, trading platforms, tokenized assets, collectibles and other financial applications.
Mumtaz said the network’s price decline has distracted traders from improving fundamentals, including record transaction activity, faster block times, higher network capacity and many more.
Trading firms, market makers and applications need SOL to compete for limited block space, execute time-sensitive trades, store data and open accounts across the network.
As activity grows, demand for those scarce network resources should also increase, he said.
Zcash Looks UndervaluedMumtaz described Zcash as a high-conviction privacy asset that investors overlooked when it traded near $18.
Its core investment case is simpler than Solana’s, he said. Zcash offers private digital money while allowing users to keep transactions transparent when desired.
Mumtaz argued privacy becomes increasingly valuable as governments expand financial surveillance, asset monitoring and restrictions on capital movement.
He also highlighted Zcash’s work on formal verification, which mathematically tests whether critical software performs as designed.
Near Protocol Offers Higher Risk, Asymmetric UpsideMumtaz said his conviction in Near remains lower than in Solana and Zcash, but he views the project as significantly undervalued relative to many cryptocurrencies ranked above it.
He pointed to Near co-founder Illia Polosukhin’s technical background, the network’s sharding architecture and its positioning across artificial intelligence and cross-chain infrastructure.
Mumtaz also praised the Near team’s operational execution, describing it as highly organized and capable of turning plans into working products.
However, he cautioned that Near still needs to attract more developers and businesses before reaching its potential.
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Solana (SOL), a leading high-performance blockchain developed for decentralized applications and crypto trading, is registering signs of a potential recovery after months of declining market sentiment. Improving activity in the decentralized derivatives sector is helping to boost confidence in the broader Solana DeFi ecosystem.
Key price levels and trading volumesSOL is currently priced at $74.61, with a 24-hour trading volume of $1.6 billion and a total market capitalization of $43.47 billion. The asset has seen a slight drop of 1.75% over the past day. Despite this, the price trajectory and heightened perpetual futures activity have led some analysts to anticipate a possible shift toward bullish momentum in the coming weeks.
Data from Crypto Rank suggests Solana could record its first positive monthly close since September 2025. If this trend holds, July would mark the end of a series of nine consecutive monthly losses for SOL, reflecting a turnaround in long-term investor sentiment.
In July so far, the price of SOL has risen over 3%, interpreted by market observers as a sign that selling pressure may be weakening. This recovery is attributed to increased interest among buyers and a cautious optimism among traders as July progresses.
Surge in decentralized derivatives activityPerpetual future exchanges, or perps, on Solana have surpassed $1 billion in daily trading volume, highlighting the growing depth and liquidity within the network’s derivatives market. Traders are reportedly attracted to Solana due to features such as quick transaction execution, ample liquidity, and lower costs in comparison with alternative blockchains.
The increase in perpetual futures trading not only points to heightened activity on chain but also underscores Solana’s role as a major DeFi platform focused on scalable decentralized applications.
Mini dictionary: Perpetual DEXs are decentralized exchanges that specialize in perpetual futures contracts, allowing users to trade derivative products with no expiry date directly on the blockchain.
MetricCurrent ValueChange/SignificanceSOL Price$74.611.75% decrease in 24 hours24h Trading Volume$1.6 billionHigh market activityPerpetual DEX 24h Volume$1 billion+Record daily volumeMarket Cap$43.47 billionTop 10 crypto by market capMonthly SOL price change (July)+3%First potential positive close since Sep 2025Path forward for Solana ecosystemAnalysts have stated that if this pattern of growing derivatives volume continues, Solana could see greater network adoption, stronger liquidity across protocols, and enhanced development for its expanding ecosystem.
Despite these promising signs, the SOL price has not fully reversed its downward trend, influenced partly by broader crypto market caution and Bitcoin’s recent price decline. Maintaining momentum through the end of July is seen as essential for confirming a broader bullish reversal for SOL after a prolonged period of losses.
Increased trading on perpetual decentralized exchanges reflects rising interest and liquidity, potentially boosting SOL’s price and benefiting the entire platform if current momentum carries through month-end.
The ecosystem may attract further traders and capital if recent growth in decentralized perpetual trading translates into sustained user activity. Market participants are watching to see if Solana’s renewed strength can overcome broader headwinds and mark the end of its extended downtrend.
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.
TLDR:Custody Framework And Settlement AccessSovereign Bond Structure And Broader ApplicationGet 3 Free Stock Ebooks BitGo Bank & Trust now offers qualified custody for USDM1, the first onchain sovereign bond USDM1 is backed 1:1 by US Treasuries and issued natively onchain by the Marshall Islands Go Network enables off-exchange settlement with T+0 timing across Stellar, Ethereum, and Solana Marshall Islands uses USDM1 to fund a 20-year Universal Basic Income program nationwide BitGo Bank & Trust will provide institutional-grade qualified custody and off-exchange settlement for USDM1, the first natively issued onchain sovereign bond. The Marshall Islands issued this dollar-denominated instrument, which is backed 1:1 by US Treasuries.
Institutional clients can hold USDM1 in regulated cold storage and use it for collateral and settlement through BitGo’s Go Network. The service spans Stellar, Ethereum and Solana networks.
Custody Framework And Settlement Access BitGo Bank & Trust operates as an OCC-regulated digital asset trust bank under BitGo Holdings, Inc. The bank now supports USDM1 within its qualified custody platform for institutional clients.
Segregated accounts, offline key management and institutional controls form the foundation of this custody structure. These features apply across all three supported blockchain networks.
BitGo announced the news in a post on X, describing USDM1 as the first natively issued onchain secured sovereign bond.
Today we're announcing institutional-grade qualified custody and off-exchange settlement for USDM1, the world's first natively issued onchain secured sovereign bond.
Institutional clients can hold this dollar-denominated sovereign bond in regulated custody on BitGo and use it…
— BitGo (@BitGo) July 17, 2026
The company stated that institutional clients can hold this dollar-denominated sovereign bond in regulated custody on BitGo and use it for collateral and settlement through BitGo’s Go Network. The post confirmed availability across the three supported networks.
Through the Go Network Off-Exchange Settlement solution, eligible clients can deploy USDM1 to connected trading venues.
This access operates continuously, with settlement completed on the same day trades occur. Assets do not need to move onto an exchange for this process to function.
This structure aims to reduce exposure during the trading day and lower settlement risk for institutions. It also targets a reduction in pre-funding requirements across trading and financing operations.
BitGo positions this setup as a way to improve capital efficiency for institutional clients working with digital assets.
Sovereign Bond Structure And Broader Application USDM1 was issued by the Republic of the Marshall Islands as a secured sovereign bond. The instrument follows a structure similar to a fully collateralized Brady bond under New York law. It is designed to accrue value daily, with minting and redemption tied to live signed price quotes.
Mike Belshe, CEO and co-founder of BitGo, addressed the announcement directly. He said USDM1 is “a different kind of asset – sovereign collateral with Treasury backing, built to fit how institutions already operate.” He added that custody access allows institutions to use the asset within infrastructure they already rely on.
Hon. David Paul, the Marshall Islands’ Minister of Finance, Banking and Postal Services, also commented on the partnership.
He noted that the government “truly appreciates BitGo’s partnership and is proud to see this infrastructure put to work built on trusted legal frameworks.”
He described USDM1 as anchored in the full faith and credit of the Marshall Islands government, secured by underlying US Treasury collateral.
Beyond institutional finance, the Marshall Islands has deployed USDM1 in a nationwide Universal Basic Income program.
The program distributes funds quarterly across more than 1,200 islands over a 20-year period. Financial institutions have also begun using USDM1 as a treasury instrument in daily operations.
Grayscale is turning its Solana staking ETF into something that actually pays you. The asset manager filed a prospectus supplement on July 17, 2026, outlining a Third Amended and Restated Trust Agreement for its Grayscale Solana Staking ETF, ticker GSOL, that introduces mandatory quarterly cash distributions of staking rewards to shareholders.
The amendment is expected to take effect on or around August 7, 2026. In plain terms: instead of staking rewards quietly accumulating inside the fund, Grayscale will now convert those rewards to cash and send the net proceeds to investors every quarter, or more frequently if it chooses.
## What the restructuring actually means
Here is how it works. GSOL stakes 100% of its SOL holdings, currently generating gross staking rewards of around 6.1% annually. Under the new structure, those rewards get liquidated to US dollars on a quarterly cadence, expenses and sponsor fees get deducted, and the remainder flows to shareholders as a cash distribution.
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The catch, and it is a real one, is that distributions are not guaranteed. The amounts will fluctuate based on actual rewards received, which means they move with Solana’s network conditions, validator performance, and the prevailing staking yield at any given time.
Grayscale also used the filing to lock in a fee structure it had already begun rolling out. Effective June 25, 2026, the sponsor fee dropped from 0.35% to 0.19%. More meaningfully, the staking fee, the cut Grayscale takes from gross rewards before passing anything along, fell from 23% to 7%.
At 23%, Grayscale was keeping nearly a quarter of every staking reward before expenses. At 7%, the fund retains far more of the yield it generates, making the cash distribution policy substantially more attractive than it would have been under the old terms.
## GSOL’s road from private placement to NYSE Arca
Grayscale launched GSOL in November 2021 as a private placement vehicle. It spent years trading over the counter before Grayscale uplisted it to NYSE Arca on October 29, 2025, giving retail investors proper exchange access.
The cash distribution policy follows a template Grayscale already tested with its Ethereum Staking ETF, which began distributing staking rewards as cash in January 2026.
## What investors should watch
GSOL is not the only Solana staking ETF on the market. The REX-Osprey SOL + Staking ETF, trading under the ticker SSK, has already been offering monthly distributions, giving it a cadence advantage over GSOL’s quarterly schedule.
The tax angle is also worth flagging. Grayscale explicitly notes in the filing that cash distributions carry tax implications, and the fund encourages investors to consult tax advisors. Cash distributions from a staking ETF are likely treated as ordinary income in most jurisdictions, which is a different outcome than holding unstaked SOL or a non-distributing staking product.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Summary SBI Ventures Asset acquired majority control of Coinhako on July 16. The deal is the fifth SBI digital-asset move in five weeks, alongside JPYSC, Bitbank, EDX Markets, and SBI Solana Global. JPYSC remains restricted to SBI VC Trade accounts with no external wallet access. The Bitbank acquisition still requires Japan’s Fair Trade Commission approval. SBI Ventures Asset Pte. Ltd. closed on a majority stake in Coinhako on July 16, folding Southeast Asia’s longest-running licensed crypto exchange into a Japanese financial conglomerate that already counts more than 14 million users across its brokerage, banking, and insurance arms. Taken on its own, the deal looks like a routine acquisition in a year full of them. Taken alongside everything SBI Holdings has announced since late June, four other announcements in five weeks, the Coinhako purchase reads as the final piece of a corridor SBI has been assembling in full public view over five weeks. SBI’s buildout looks different from the Circle- and Tether-centered infrastructure stories dominating Western crypto coverage this year: a Tokyo securities house trying to own every layer between a Japanese yen and a Southeast Asian retail account.
SBI Ventures Asset bought out Coinhako’s shareholders without disclosing terms The mechanics of the Coinhako deal are laid out in SBI Holdings’ own notice to shareholders. SBI Ventures Asset Pte. Ltd. obtained approval from the Monetary Authority of Singapore for a capital injection into, and a purchase of shares from existing investors in, Holdbuild Pte. Ltd., the entity behind Coinhako. The acquisition closed on July 16 and made Coinhako a consolidated subsidiary; neither company disclosed the price. Coinhako itself operates through two regulated units, Hako Technology Pte. Ltd., which holds a Major Payment Institution license from the MAS, and Alpha Hako Ltd., registered with the British Virgin Islands Financial Services Commission. Yusho Liu and Gerry Eng co-founded the exchange roughly a decade ago; coverage of the deal consistently puts its user base in the hundreds of thousands.
SBI Holdings chairman and CEO Yoshitaka Kitao framed the purchase as a step toward a global corridor for digital assets by connecting exchanges worldwide, language that shows up again almost verbatim in SBI’s other July announcements, suggesting it is the operating thesis rather than a one-off soundbite. On Coinhako’s own blog, Liu described joining the group as the natural next chapter for Coinhako, a company he said had spent ten years building a compliant platform inside one of the world’s more demanding regulatory environments.
Five weeks, five announcements, one corridor What separates this from an ordinary run of M&A is how tightly the pieces interlock once laid side by side on a timeline. Each move slots into a different layer of the same stack: an exchange layer for onboarding users, an asset layer for tokenizing what they trade, a ledger layer for where those tokens actually live, and a settlement layer for how money moves underneath all of it.
Jun 24, 2026 · Settlement
JPYSC goes live
SBI Shinsei Trust Bank issues, SBI VC Trade distributes
Jun 25, 2026 · Exchange (Japan)
Bitbank acquisition agreed
¥46.7bn (~$289M) via SBICAH GK, pending JFTC clearance
Jul 7, 2026 · Institutional access (US)
EDX Markets Series C
SBI leads $76M round
Jul 13, 2026 · Ledger
SBI Solana Global formed
Solana Foundation takes equity stake in renamed SBI R3 Japan
Jul 16, 2026 · Assets
Ondo Finance partnership
Japanese equities tokenized via Ondo Global Markets, settled in JPYSC
A Japanese stock tokenized through Ondo Global Markets would move across SBI’s own channels, SBI Securities, SBI VC Trade, Bitbank, Coinhako, and settle in JPYSC on Solana rails. Every link in that chain is owned, part-owned, or contractually bound to SBI, exactly what Ondo’s own release meant by plans to connect Japan with the global tokenized economy.
JPYSC’s Type III classification removes the ¥1 million ceiling that limits its only domestic rival The settlement layer deserves closer attention because it is the part of the stack that is hardest to replicate quickly. JPYSC launched on June 24, issued by SBI Shinsei Trust Bank and distributed exclusively through SBI VC Trade, developed jointly with Singapore-based Startale Group. Japan’s amended Payment Services Act classifies it as a trust-type Electronic Payment Instrument, a structure that, unlike the funds-transfer license underpinning the rival JPYC stablecoin, carries no cap on holdings or remittances. JPYC, live since October 2025, is bound by a roughly one million yen limit on balances and transfers under its Type II registration; JPYSC’s trust-bank structure sidesteps that ceiling entirely, and its reserves are permitted to hold up to half their value in Japanese Government Bonds rather than sitting purely in cash.
The limitation, and it is a real one, is that JPYSC currently cannot leave SBI’s own walls. A company spokesperson told CoinDesk that its use remains confined to accounts within SBI VC Trade and that it does not yet support withdrawals to external wallets or settlement across public blockchains. Every tokenized-equity trade the Ondo partnership eventually enables will, for now, settle inside a closed loop rather than on an open chain a third-party wallet could touch.
Bitbank still needs the Fair Trade Commission’s signature before the math holds up The exchange layer inside Japan runs through Bitbank, and that deal is signed but not finished. SBI agreed on June 25 to acquire the exchange for roughly ¥46.7 billion, about $289 million, structured through its subsidiary SBICAH GK, which will first buy shares directly from Bitbank CEO Noriyuki Hirosue and other individual holders, then subscribe to a new share issuance that Bitbank will use to buy out its two largest corporate shareholders, MIXI and Ceres.
Combined with SBI VC Trade, the merged entity would become Japan’s largest crypto exchange by assets under custody, at least on paper.
¥46.7bn
Deal size (~$289M)
¥1.1tn
Combined AUM (~$6.8B)
2.92M
Combined accounts
Oct 2026
Expected close, pending JFTC
None of that is final. The transaction still requires clearance from Japan’s Fair Trade Commission and is not expected to close until around October. Most coverage of this deal already describes the combined entity as Japan’s largest crypto exchange. That description only becomes accurate once the JFTC clears it.
For anyone trying to trade this rather than just read about it, the gap between announcement and access is the whole story right now. ONDO has already moved on the distribution news, but there is no tokenized Japanese equity live yet to actually buy, and JPYSC’s closed-loop status means none of the settlement layer is reachable from outside SBI’s own accounts. Positioning ahead of the JFTC decision on Bitbank means betting on regulatory timing, not a live product.
Nobody else in Asia is building every layer at once Joseph Goh, director and head of Asia Pacific at crypto investment bank Areta, told CoinDesk that SBI is the first financial group in Asia to go after the entire digital asset value chain, spanning issuance, settlement, trading infrastructure, and retail distribution, and doing it regionally rather than only at home. That is a meaningful distinction from how most exchanges or stablecoin issuers have approached the market, picking one layer and defending it. SBI frames the spending as long-term infrastructure, not cycle-chasing, a claim backed by its $76 million lead investment in US-based EDX Markets and a stake in risk manager Gauntlet, neither of which touches its home markets at all. Read together, those two bets look like a hedge across regions rather than a bet on any single one.
The corridor only works once JPYSC leaves SBI’s own servers Every structural strength above comes with a corresponding constraint. JPYSC’s closed loop means the settlement rail underneath this entire corridor cannot yet move value to anyone who isn’t already an SBI VC Trade customer, which caps its usefulness for the cross-border, third-party liquidity that the Ondo and Coinhako deals are theoretically supposed to unlock. Domestic competition is not standing still either: Japan’s three largest banking groups, MUFG, SMBC, and Mizuho, are jointly developing their own stablecoin and have targeted live commercial transactions within fiscal 2026. Zoom out further and the concentration risk becomes a regulatory theme rather than an SBI-specific one. The Bank for International Settlements used its 2026 annual report to argue that privately issued stablecoins broadly lack the institutional safeguards to function as systemic money, a warning aimed at the stablecoin model in general but one that applies with particular force to a structure where a single conglomerate controls the exchange, the tokenization venue, the ledger, and the settlement asset all at once. Whether that concentration reads as smart corporate strategy or a regulatory red flag depends entirely on whether JPYSC ever actually leaves SBI’s own subsidiaries.
What actually closes the loop between now and October Three things will tell you whether this becomes the “sovereign corridor” SBI is describing or stays a loosely connected string of acquisitions. The first is the Fair Trade Commission’s decision on Bitbank, expected around October, without which the “largest exchange in Japan” claim remains unverified. The second is whether JPYSC gains any bridge to public blockchains or external wallets, the single change that would convert it from an internal ledger entry into actual settlement infrastructure other institutions could plug into. The third is more mundane but just as telling: whether Ondo Global Markets actually issues a first tokenized Japanese equity under this partnership. A distribution agreement and a live, tradable token are not the same thing. July has produced four press releases describing intent, not one product a retail investor can currently buy.
Mauricio Pochettino is expected to make a decision next week on whether he’ll continue leading the US Men’s National Team, and the outcome could ripple well beyond the pitch. The Argentine manager, who took the job in September 2024, has an offer from US Soccer on the table following the team’s round-of-16 exit from a home World Cup.
The money behind the whistle Pochettino’s compensation package is estimated at $6 million per year, making him the highest-paid coach in US Soccer history. That figure reportedly includes a $2.5 million signing bonus, which gives you a sense of how aggressively the federation pursued him.
US Soccer CEO JT Batson has confirmed that contract renewal discussions are ongoing.
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Kraken and Chiliz circle the opportunity Two notable names from the digital asset world have shown interest in USMNT-related sponsorships tied to the 2026 World Cup: Kraken, one of the largest crypto exchanges by volume, and Chiliz, the company behind the Socios.com fan token platform.
Chiliz operates the infrastructure powering fan tokens for some of the biggest clubs in world football, including Barcelona and Paris Saint-Germain. Its native token, CHZ, serves as the currency within that ecosystem.
If Pochettino stays, the USMNT retains a coaching figurehead with genuine international cachet, having previously coached Tottenham Hotspur in a Champions League final and managed Paris Saint-Germain and Chelsea. If he leaves, potential sponsors face uncertainty about the team’s direction.
No major token launches tied directly to Pochettino’s USMNT role have been announced as of early July 2026. Chiliz already has the technical platform ready, having rolled out fan tokens for dozens of clubs worldwide.
Traders should watch for any formal sponsorship announcements in the weeks following Pochettino’s decision. History suggests that confirmed partnerships between major sports entities and crypto firms tend to produce measurable, if temporary, price movements in associated tokens.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Fluxers! Welcome back to another ecosystem update! On Wednesday, July 15, we had an AMA, and in today’s blog, we are going to recap everything, so let’s dive in.
High-Level Ecosystem Shifts To start off, Flux is restructuring its operations around a leaner, more community-driven model. The core team remains in place, but the project expects less direct corporate involvement from InFlux, greater community participation, and a transition of its corporate focus from the United Kingdom to the United States.
Next up, we will soon be sending notifications to FluxNode operators still running legacy nodes, stating that if they do not update to PoUW v2, they will be brought offline. Essentially, operators running legacy nodes will be given a deadline to migrate to the currently supported node environment. Nodes that remain on the legacy system after that deadline will be banned from FluxCloud.
Additionally, we plan to implement community referral codes and profit sharing. For example, if a Fluxer helps bring 30 new machines to the network, they would receive a portion of that revenue by entering their personal code on any deployments they make.
Expanding further on revenue sharing, Flux is exploring partnerships in which it supplies infrastructure and development support in exchange for a share of the participating company’s revenue or business. The community would be asked to approve how proceeds from these arrangements are incorporated into PNR.
FluxAI Developments Flux is building its own Large Language Model (LLM), and we will train it on FluxEdge GPUs. Our aim is not to compete with ChatGPT or Claude; we want to build an LLM that is highly specific to Flux and does not train on user data.
This specialized LLM will operate for particular FluxAI and customer applications. The team emphasized that FluxAI is designed around business privacy and does not harvest customer data in the manner associated with many mainstream AI platforms.
PNR Update Next, Progressive Node Rewards (PNR) are almost ready. With PNR, there will be an allocation specifically for node operators for what we refer to as “flex time,” where if your machine runs workloads at a higher rate, you will be compensated accordingly.
PNR differs from conventional mining economics. In a proof-of-work system, increasing competition can reduce an individual miner’s share of a largely fixed block-reward pool. Under the proposed PNR model, increased paid workload demand would instead expand the amount distributed to eligible node operators.
For PNR, as demand increases, payouts rise; conversely, when demand wanes, payouts decrease. When PNRs are implemented, node operators will be paid in proportion to their machines’ runtime depending on whether assigned workloads scale up or down.
Building out a PNR pay structure that dynamically adjusts to network demand requires extensive development. The team has largely finalized its proposed approach to PNR and hopes to introduce it during Q4 2026, subject to development progress, publication of a governance proposal and community approval.
Flux Foundation Update The Flux Foundation will adopt a bounty-payout feature that operates like a job marketplace. Flux community members can post a job they need completed with a bounty, and other community members can complete it to earn FLUX. Part of the Foundation’s yield-generating infrastructure will be allocated to fund the bounty program.
Conclusion This AMA reinforced that Flux is entering its next phase with a sharper focus on sustainability, community participation, and real-world adoption.
From restructuring operations and strengthening FluxAI to developing Progressive Node Rewards, referral incentives, and community bounties, the goal is to create an ecosystem in which contributors, operators, developers, and community members can all benefit from the network’s growth.
Many of these initiatives are still being developed and will require further technical work, governance proposals, and community approval before they are fully implemented.
However, the direction is clear: Flux is working toward a leaner, more decentralized ecosystem that rewards meaningful participation and ties node-operator earnings more closely to genuine platform demand. The future runs on Flux.
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.
Injective [INJ] traded back above $5 as the token attempted to extend its recovery from June lows, with buyers now facing resistance around the $5.20 region.
The latest price move comes as Injective filed its transfer agent registration with the U.S. Securities and Exchange Commission [SEC]. This is part of the blockchain network’s push to bring on-chain regulated real-world assets [RWAs] and securities infrastructure.
Injective files for SEC transfer-agent registration Injective announced on July 16 that it had officially filed its transfer agent registration with the SEC.
Transfer agents maintain official ownership records for securities and process changes when those assets change hands. Injective wants to bring this function on-chain, allowing the ownership record to exist on the same blockchain as the tokenized security rather than relying on a separate off-chain database.
According to Injective, moving the transfer-agent function on-chain could allow market participants to record and transfer ownership of tokenized securities within seconds while reducing the need for multiple intermediaries to reconcile transactions.
The filing begins the registration process and should not be interpreted as SEC approval or confirmation that Injective is already operating as a registered transfer agent.
Regulatory push extends beyond the U.S. The SEC filing forms part of Injective’s broader push to expand its regulated financial infrastructure.
Injective said the announcement came hours after it published its MiCAR whitepaper, which the project says will support its expansion across European Union member states within the region’s regulatory framework.
Together, the developments highlight Injective’s efforts to position its blockchain infrastructure for institutional and regulated markets across the U.S. and Europe.
However, the developments have yet to trigger a decisive breakout for INJ.
At press time, INJ was trading at approximately $5.05, with the latest 12-hour candle gaining around 2.5%.
The token has recovered considerably since falling towards $4.10 in late June. However, its price action throughout July has largely remained within a consolidation range between approximately $4.50 and $5.20.
Source: TradingView The Relative Strength Index [RSI] stood at 56.20, above the neutral 50 level, suggesting that buying momentum had strengthened. However, the indicator remained well below overbought territory, leaving room for further upside if demand increases.
The immediate challenge is the $5.20 region, which has repeatedly limited INJ’s recovery attempts during July. A decisive move above this area could signal a breakout from the recent consolidation range and strengthen the case for an extended recovery.
Failure to overcome the resistance, however, could leave INJ range-bound and expose the token to another test of support around the lower end of its recent trading range.
Final Summary Injective has filed for SEC transfer-agent registration to bring official ownership records for tokenized securities on-chain. INJ has recovered above $5 with its RSI rising to 56.20. Still, the token must overcome resistance around $5.20 to confirm a breakout from its July consolidation range.
Injective (INJ), a decentralized finance protocol focusing on interoperable, lightning-fast smart contracts, is drawing attention after filing a transfer agent registration with the US Securities and Exchange Commission (SEC) and signaling a push into regulated digital securities.
INJ Price Performance and Market OutlookAt the time of reporting, INJ trades at $4.88 with a 24-hour trading volume of $109.18 million and a market capitalization of $488.92 million. The native token has experienced a 3.77% decline over the past day, moving in line with cautious sentiment across the broader crypto market as Bitcoin also trends downward.
Despite recent weakness, analyst CryptoBoss reported building bullish momentum for INJ, driven by technical factors and increased activity from large investors. On the four-hour chart, the cryptocurrency has reclaimed the $5.00 mark, considered a psychologically significant level by traders.
On the trading setup, analysts outlined a potential long position with an entry near $5.02 and stop-loss at $4.42, pointing to renewed buyer control. Upside price targets stand at $5.39, $5.69, and $6.04 if bullish momentum persists.
Technical analysts remain positive about the sustainability of the current trend, but warn of downside risk if INJ falls below key support. Sustaining support and clearing immediate resistance zones will be critical for any continued upward move.
MetricValueCurrent Price$4.8824h Volume$109.18 millionMarket Cap$488.92 million24h Change-3.77%Bullish Targets$5.39 / $5.69 / $6.04SEC Transfer Agent Filing and RWA EcosystemInjective has registered as a transfer agent with the SEC, taking its first formal step toward offering regulated infrastructure for tokenized securities. This landmark move could position Injective to enable issuance, transfer, and administration of tokenized securities under US regulatory oversight.
If the application is approved, Injective could serve institutional partners seeking compliant access to blockchain-based capital markets. The development also positions the protocol as a key enabler in the expanding market for real-world assets (RWAs) through tokenization.
Mini dictionary: SEC transfer agent, an entity registered with the US Securities and Exchange Commission to oversee the issuance, transfer, and recordkeeping of securities on behalf of companies and investors. In the blockchain sector, registration as a transfer agent could pave the way for legal management of tokenized financial assets within US law.
Market watchers highlight the importance of this regulatory milestone, viewing it as a step that could accelerate institutional adoption and expand Injective’s role in digital finance. However, the platform remains sensitive to shifts in broader market sentiment, especially movements in BTC.
Ongoing Risks and Critical LevelsWhile forecasts suggest that INJ could reach as high as $6.04 if bullish conditions persist, any breakdown below key support could leave the token vulnerable to further losses. Traders are closely monitoring Injective’s progress with the SEC, aware that regulatory approvals could drive renewed attention and inflow to the protocol.
For investors, monitoring Injective’s SEC registration process and maintaining awareness of key technical levels will be important as the platform seeks to establish itself within regulated blockchain finance.
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.
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.
London, United Kingdom, July 17th, 2026, Chainwire
ether.fi, the leading onchain neobank for digital asset management, has selected Nexus Mutual to provide crypto’s largest-ever ETH Slashing Cover. The cover protects ether.fi‘s validators against up to 15,000 ETH worth of slashing penalties.
As ether.fi continues to see rapid adoption from both retail and institutional audiences, securing industry-leading protection against slashing risk for ether.fi users is critical. Over the last year, ether.fi has been systematically strengthening their stack across infrastructure, risk management, operational security and real-time defense systems.
Since ether.fi operates one of the largest validator sets on Ethereum, slashing is a real tail risk for them. By working with Nexus Mutual, ether.fi has mitigated this with protection that kicks in to secure against validator losses. This cover was calculated to protect ether.fi in even the most extreme scenarios and represents more than all historical losses from ETH slashing combined.
“We’ve always believed the safest protocols will ultimately win. That’s why we’ve invested heavily in audits, operational security, staking architecture, and now the largest insurance program in the industry. We are excited to partner with Nexus Mutual to make this a reality,” said Mike Silagadze, Founder & CEO of ether.fi.
“We’ve known the ether.fi team since before it was ether.fi, and they’ve been focused on risk from day one. Covering their users for up to 15,000 ETH in slashing penalties is a historic step, and we’re proud they chose Nexus Mutual to take it with them,” said Hugh Karp, Founder of Nexus Mutual.
About ether.fi
ether.fi is the leading onchain neobank for digital asset management. With $6B+ in AUM across Cash (crypto card), Stake (restaking), and Liquid (liquid restaking derivatives), ether.fi has established category dominance in crypto neobanking. It’s the rare institutional-grade product built for consumer adoption.
About Nexus Mutual
Nexus Mutual is the first crypto insurance alternative. Since 2019, they have covered more than $7 billion against smart contract hacks, slashing, and other digital asset risks. As the industry leader, they have become a trusted partner for everyone from individuals to institutions to help manage onchain risk.
Contact Head of Marketing
Phil Johnston
Nexus Mutual [email protected]
@RobinhoodCrypto's Ethereum Layer 2 network is only 16 days old, and it is already moving serious money. Robinhood Chain recorded $5.254 billion in weekly DEX volume, a 490% jump week over week, according to DefiLlama data. For a chain that only opened its public mainnet on July 1, 2026, the numbers are difficult to ignore.
Uniswap Is Doing Almost All of the Work The volume story is largely a single-protocol story. @Uniswap accounted for $588.93 million of the $594.74 million traded on the chain in the most recent 24-hour window, making every other protocol on Robinhood Chain a rounding error by comparison. That concentration reflects Uniswap's position as the designated public liquidity layer on the network, a role it was given at launch alongside infrastructure partners including Chainlink, BitGo, and Morpho.
Robinhood Chain was built on Arbitrum's Orbit technology and settles to Ethereum as an optimistic rollup. The chain was unveiled at Robinhood's "The World Is Flat" event in London and was positioned from the outset as infrastructure for tokenized real-world assets, offering stock tokens available in more than 120 countries alongside a DeFi lending product called Robinhood Earn, which routes user deposits into a Morpho-powered USDG vault at an estimated 7% annual yield.
Strong Flows, But TVL Lags the Volume The gap between trading activity and capital locked on the chain is wide. DeFi TVL stands at $220 million against $5.25 billion in weekly volume, with $816 million bridged into the network. The chain itself booked $175,178 in revenue in a single day, a meaningful figure for a network still in its first weeks.
The chain's stated focus on tokenized real-world assets remains a small part of the actual activity. Early volume has been driven heavily by speculation, including a surge in meme coin trading, rather than the tokenized stock use case Robinhood originally advertised. Still, the raw throughput has been enough to push Robinhood Chain into the top tier of DEX networks globally. On July 12, the chain ranked second in 24-hour DEX volume across all networks, trailing only Solana, according to DefiLlama data.
The chain launched with a built-in distribution advantage that most new L2 networks do not have. Robinhood operates a brokerage serving nearly 28 million customers, giving the network a ready-made audience from day one. Whether that early volume converts into sustained DeFi activity and genuine RWA adoption will be the question to watch in the weeks ahead.
Sources
Robinhood Chain on DefiLlama: TVL, Volume and Revenue
CoinDesk: Robinhood Rolls Out Public Blockchain
Bitcoin.com: Robinhood Chain Surges Past $3 Billion in DEX Volume
SUI showed resilience in the market with its price maintaining a strong support level, despite lower participation from derivatives traders and subdued volume. As of publication, SUI traded at $0.7324, marking a 0.89% decline over the past 24 hours. The altcoin continued to face resistance near $0.757, although increasing user activity suggested ongoing interest in the network.
Technical outlook: SUI defends key supportA review of daily price charts indicated that SUI managed to remain above its crucial $0.70 support after several months of declining momentum. Repeated retests of this level helped to prevent the asset from falling further, while current trading volumes reflected a cautious atmosphere as investors wait for a clearer catalyst.
Technical indicators pointed toward potential improvement. The moving average convergence divergence (MACD) showed early signs of shifting positive, as its histogram turned green and the MACD line approached a bullish crossover. Analysts suggested that the reduction in selling pressure could continue, but emphasized the need for a solid breakout above $0.757 with higher volume to confirm a true reversal in SUI’s trajectory.
Should buyers successfully push through the $0.757 resistance, the technical landscape for SUI would likely become more positive.
Support LevelResistance LevelCurrent PriceMACD Signal$0.70$0.757$0.7324Approaching Bullish CrossoverCommunity optimism and shifting market sentimentThe Sui Community, an independent group of supporters and ecosystem builders for the Sui blockchain, recently described SUI as “one of the stars in the upcoming rising market” and shared optimism for a strong comeback. The community cited the platform’s unique approach as a reason for its growing attention among users.
Sui Community members expressed confidence in a possible SUI resurgence, highlighting rapid development and distinctive features compared to other crypto projects.
However, market data painted a mixed picture. While retail engagement appeared to increase, as evidenced by rising active addresses and comments from the community, leveraged participants remained cautious, with open interest on derivatives platforms falling from about $700 million to $600 million.
Sui Network, the blockchain platform underlying SUI, offers high-speed and scalable smart contract functionality, aiming to differentiate itself from other networks through novel technology and development strategies.
Mini dictionary: Sui Network is a layer 1 blockchain designed for low-latency and high-throughput smart contract execution. Developed by Mysten Labs, Sui aims to enhance user experience and scalability through parallel transaction processing and a unique object-centric data model.
User activity strengthens the ecosystemOn-chain data suggested continued ecosystem engagement even as spot prices faced pressure. According to DefiLlama, SUI’s total value locked (TVL) has stabilized around $430 million, and daily active addresses have risen sharply during July. This uptick in user activity was interpreted as a sign of ongoing adoption, with users choosing to interact with the network rather than withdraw assets.
Stable TVL combined with growing daily active addresses points to sustained interest in the SUI ecosystem, despite a challenging price environment.
Ongoing reductions in open interest, as indicated by CoinGlass, implied lower speculative activity. This has corresponded with SUI’s continued inability to break above the key $0.757 resistance for now.
MetricEarlier ValueCurrent ValueTotal Value Locked (TVL)N/A~$430 millionOpen Interest~$700 million~$600 millionPriceN/A$0.7324For the time being, SUI continued to trade within a consolidation zone. A decisive movement above $0.757 could encourage bullish momentum, while a dip below $0.70 may lead to renewed selling pressure.
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.
Circle’s euro-backed stablecoin EURC has roughly doubled in market capitalization since the start of the year, climbing from approximately $205 million to around $430 million. The token’s circulation now sits at approximately €378 million as of mid-July, with its share of the euro stablecoin market ballooning from about 17% a year ago to north of 40%.
MiCA did the heavy lifting MiCA’s full enforcement in late 2024 and early 2025 created a compliance gauntlet that most euro stablecoin issuers couldn’t survive. The most notable casualty was Tether’s EURT, which exited the market rather than meet the new regulatory requirements.
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Circle secured a French Electronic Money Institution license back in 2024, giving it a single regulatory passport to operate across the entire EU and European Economic Area. The supply numbers tell the story cleanly. EURC’s token supply grew from roughly 309 million at the end of 2025 to approximately 390 million in early 2026, nearly tripling in a compressed timeframe.
Multi-chain expansion and Base launch Circle has been deploying EURC across multiple blockchain networks, including Ethereum and Solana. The most recent expansion landed on July 9, when EURC went live on Coinbase’s Base network.
Daily active addresses for EURC hit an all-time high of 1,760 shortly after the Base launch. The broader euro stablecoin market has reached record highs approaching $900 million as of mid-2026, with EURC commanding roughly 40–50% of that total.
What this means for investors The institutional character of this growth is worth noting. The supply expansion and market cap gains appear driven by enterprise-level integrations rather than grassroots consumer adoption. The company has reportedly been building payment integrations with partners like Visa and exploring point-of-sale terminal support through Ingenico, which would push EURC into physical retail environments.
With the overall euro stablecoin market still under $1 billion, it remains a fraction of the dollar stablecoin market, which is measured in the hundreds of billions.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Key Takeaways HOOD shares declined approximately 5% Friday without specific company news catalyzing the selloff ARK Invest divested more than $7 million in HOOD holdings through two distinct transactions The Nasdaq index declined over 1%, creating headwinds for high-beta fintech stocks Goldman Sachs elevated its price target to $137; Piper Sandler maintains a Buy rating at $135 Q2 2026 results scheduled for July 29, with consensus forecasts of $0.41 EPS and $1.21B revenue Robinhood Markets (HOOD) shares declined approximately 5% during Friday’s trading session, settling around $100.82, without any quarterly report or significant company-specific catalyst triggering the decline.
Robinhood Markets, Inc., HOOD
The decline appears to reflect portfolio rebalancing rather than a fundamental deterioration in the company’s outlook.
The most significant identifiable catalyst came from ARK Invest, which reduced its HOOD exposure through multiple transactions. ARK divested roughly $3.2 million in HOOD shares in one trade and separately offloaded 33,466 shares from its ARKK ETF worth approximately $3.9 million.
ARK regularly rebalances positions to maintain individual holdings below 10% of fund assets. However, continued selling from a prominent institutional investor typically pressures sentiment irrespective of the underlying rationale.
Broader market dynamics compounded the pressure. The Nasdaq declined more than 1% during the session, creating unfavorable conditions for high-beta fintech equities. The S&P 500 also registered modest losses, signaling a cautious market tone.
HOOD had been trading 17.6% above its 20-day moving average and more than 30% above its 50-day moving average prior to Friday’s selloff. Such extended positioning often precedes sharper corrections when buying momentum dissipates.
Analyst Price Targets Stay Elevated Notwithstanding Friday’s weakness, Wall Street’s outlook on HOOD remains constructive. Goldman Sachs reaffirmed its Buy rating this week while increasing its price objective to $137. Piper Sandler’s Patrick Moley similarly maintained a Buy stance with a $135 target.
The average price target among 27 analysts stands at $119.41, representing meaningful upside from current trading levels.
Asset-Backed Securities and Credit Card Expansion In separate developments, Bloomberg reported this week that Robinhood intends to issue at least $400 million in asset-backed securities, with the possibility of reaching $500 million. The instruments would be collateralized by consumer credit card receivables.
Robinhood introduced a $695 platinum-plated card in March, building on its zero-fee Gold Card launched two years earlier. The ABS offering represents part of a strategic diversification beyond traditional brokerage operations.
From a technical perspective, HOOD is currently hovering near its 200-day moving average at $101.73. The stock traded below this threshold on an intraday basis, which technical analysts suggest could dampen near-term bullish sentiment.
Critical support resides at $93. Overhead resistance is positioned at $112.50.
Q2 2026 earnings are slated for release on July 29. Analysts are projecting earnings per share of $0.41 and quarterly revenue of $1.21 billion.
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.
HSK Chain, an Ethereum Layer-2 (L2) blockchain built by HashKey Group, is pleased to announce its strategic integration with Euler Finance, a decentralized lending protocol on the Ethereum blockchain. This partnership is aimed at enabling decentralized, non-custodial lending and borrowing on HSK Chain, along with improved on-chain capital efficiency for users and institutions.
🔔 Euler Finance @eulerfinance has officially deployed on HSK Chain.
As a modular DeFi lending protocol, Euler enables asset lending and borrowing on HSK Chain, helping global users and institutional investors improve capital efficiency.
1️⃣ Enables asset lending and borrowing… pic.twitter.com/MkVAKLiH9c
— HSK Chain (@HSKChain) July 17, 2026 HSK Chain is purposefully built to support decentralized applications (dApps) and Decentralized Finance (DeFi) services. It also provides infrastructure for scalable on-chain financial applications. Euler Finance permits users to lend and borrow crypto assets without depending on centralized parties. This integration is a combination of services from two blockchain-based platforms. HSK Chain has shared this news through its official social media X account.
Euler Finance Brings Flexible Crypto Lending and Borrowing to HSK Chain Euler Finance works in a non-custodial manner, which means users retain control of their assets throughout the lending process. Basically, Euler Finance is strategically deploying on HSK Chain, users will be able to lend and borrow digital assets on HSK Chain and also improve capital efficiency by allowing idle assets to earn yield.
Furthermore, Euler Finance expands DeFi opportunities for both retail users and institutional investors. No doubt, this collaboration empowers HSK Chain’s DeFi ecosystem by adding a trusted lending protocol. With this, users can attain more ways to utilize their assets while developers and institutions benefit from deeper liquidity and more efficient on-chain financial services.
Delivering Flexible On-Chain Lending Solutions The unification of HSK Chain and Euler Finance also facilitates a flexible non-custodial lending experience, giving users full control over their funds. Both platforms are entirely built on advanced technology and are successfully able to perform their duties around the world.
This integration is not confined only to developers, but it is also beneficial for institutions for deeper liquidity and more efficient on-chain financial services. This is a greatly admirable step from both partners toward users.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Key Highlights Fifth Third Bancorp reported Q2 net earnings of $763 million, representing a significant increase from $591 million in the prior-year period Adjusted earnings per share reached $1.02, surpassing Wall Street expectations of $0.84 Net interest income soared 48% year-over-year to $2.22 billion, largely due to the Comerica transaction Capital markets fees climbed 71% to $154 million; wealth and asset management revenues increased 54% to $256 million FITB shares gained 1.6% to $60.29 during premarket hours following the earnings announcement Fifth Third Bancorp delivered second-quarter earnings of $763 million on Friday, marking a substantial improvement from the $591 million recorded in the comparable quarter of the previous year. The robust performance was primarily fueled by successful integration of the Comerica acquisition and impressive fee-based revenue growth across the organization.
FIFTH THIRD BANCORP $FITB Q2 FY26 EARNINGS HIGHLIGHTS
• Revenue: $3.28B (Est. $3.25B)
• Adj. EPS: $1.02 (Est. $0.86)
• Net Interest Income: $2.22B
• Net Charge-offs: 0.30%
• Net Interest Margin: 3.36%
On an adjusted basis, the bank generated $1.02 per share, comfortably beating the Street’s estimate of $0.84 according to FactSet consensus data. FITB shares climbed 1.6% to $60.29 in early trading following the disclosure.
Net interest income experienced a dramatic 48% year-over-year expansion to $2.22 billion. This substantial growth stemmed from the consolidated Comerica operations, ongoing repricing of fixed-rate assets, and what management characterized as prudent liability management strategies.
Fifth Third Bancorp, FITBI
The bank’s average portfolio of loans and leases expanded to $177.57 billion from $123.07 billion in the year-ago quarter — an increase that underscores the transformative impact of the Comerica acquisition.
Noninterest income advanced 41% to $1.06 billion. Each principal business segment delivered robust double-digit revenue expansion, encompassing wealth and asset management, commercial payments, consumer banking operations, and capital markets activities.
Capital markets fee revenues jumped 71% to $154 million during the three-month period. Meanwhile, wealth and asset management income rose 54% to $256 million.
Broad-Based Fee Revenue Momentum Fee-generating businesses have emerged as an increasingly vital component of Fifth Third’s overall revenue structure. Regional banking institutions like Fifth Third have been strategically expanding their capital markets capabilities to capitalize on elevated deal flow, which has accelerated under the present political environment.
Global merger and acquisition activity announced year-to-date has surpassed $3 trillion, based on Dealogic data — and financial institutions with sophisticated capital markets operations are reaping the rewards.
Noninterest expenses, however, also escalated — rising 67% to $2.11 billion. Employee compensation and benefits increased 62%, technology and communications expenditures nearly doubled, and occupancy-related costs surged. A substantial portion of these increases relates to integrating Comerica’s infrastructure and personnel.
Comerica Transaction Shapes Financial Performance The Comerica acquisition represents the dominant factor influencing this quarter’s financial metrics. The transaction elevated loan volumes, net interest income, and fee-based revenues — while simultaneously expanding the cost structure.
Adjusted tangible net income attributable to common shareholders totaled $986 million for the quarter, compared with $608 million in the same period last year.
Management provided full-year guidance for net interest income between $8.74 billion and $8.80 billion.
On a GAAP basis, earnings per share came in at $0.83, declining from $0.88 in the prior year — a reflection of the expanded share count resulting from the acquisition.
Headquartered in Cincinnati, Ohio, Fifth Third has substantially enlarged its geographic presence and balance sheet capacity through the Comerica transaction.
Fifth Third’s stock traded up 1.6% at $60.29 in premarket activity as of Friday morning.
17 July 2026 | 16:40 Ethereum was rejected near $1,930 and subsequently fell through the 0.382 Fibonacci retracement. The decline has returned ETH to the former resistance area that blocked buyers for almost 10 days before the breakout. That makes the current pullback a direct test of the new market structure.
Key Takeaways ETH was rejected near $1,930 and lost the 0.382 Fibonacci retracement during the pullback. Price is now testing an area that capped ETH for almost 10 days before the breakout. Open interest has fallen from above $15B toward $11.5B, showing that derivatives exposure is being reduced. Funding remains positive, leaving the smaller pool of open positions tilted toward longs. Derivatives positioning adds an important qualification. Open interest has contracted significantly, indicating that traders are reducing exposure, but funding rates remain positive. The market is less leveraged than it was near the recent open-interest peak, although the positions still open remain biased toward the bullish side.
Former Resistance Becomes the Main Decision Zone The support being tested is more important than an isolated Fibonacci level because of the time ETH previously spent below it. Sellers controlled this area for nearly 10 days before buyers finally forced a breakout.
Daily Ethereum price chart. A successful retest would show that supply at the former resistance has been absorbed. ETH would then need to recover the 0.382 Fibonacci level before making another attempt at $1,930.
Failure would indicate that the breakout did not establish durable support. In that case, the 50-day SMA and the 0.236 Fibonacci retracement would form the next major area for buyers to defend.
The daily close matters more than a intraday move through the level. A temporary dip followed by a recovery would leave the structure intact, while a close below support and a failed retest would provide stronger evidence of a breakdown.
Funding and Open Interest Tell Different Parts of the Story Ethereum open interest across all exchanges rose above the $15B area during the middle of the latest 90-day period before declining toward approximately $11.5B, per CryptoQuant data.
Ethereum open interest trends across exchanges. That contraction shows that traders have been closing positions rather than adding substantial new derivatives exposure. The market is therefore in a de-risking phase after the earlier build-up.
Lower open interest reduces the amount of leverage available to fuel a fresh liquidation cascade. It does not eliminate downside risk, but it means the current pullback is not developing alongside an aggressive expansion in open positions.
Funding rates provide the other half of the picture. Most readings across the latest 30 data points have remained positive, with recent values around 0.004 to 0.011. Long traders are still paying shorts, showing that perpetual positioning remains bullish overall.
Ethereum funding rate fluctuations on exchanges. The occasional negative dips demonstrate that sentiment can reverse quickly, but the latest combination is clear:
Total derivatives exposure is shrinking. The positions that remain are still tilted toward longs. That is a less crowded setup than rising open interest combined with strongly positive funding. The remaining risk is that a support failure forces those long-biased traders to reduce exposure further.
A recovery would be more convincing if open interest stabilizes or begins rising gradually after ETH holds support. Price bouncing while open interest continues to fall would suggest that the move lacks broad derivatives participation.
What the Derivatives Data Needs to Show The chart already defines the key support and resistance levels. The derivatives data can show whether the next move has enough participation to continue.
ETH Market Sentiment Indicator
🟢 Strong Recovery
ETH holds the breakout zone with rising or stable open interest. Positive funding remains constructive- provided it avoids the danger of crowded long positioning.
⚪ Weak Recovery
Price bounces while open interest falls, indicating that the move is fueled by short-covering or position closures rather than genuine new exposure.
🔴 Greater Downside Risk
ETH loses key support while funding remains positive, leaving long-biased traders highly vulnerable to a potential cascade of position reductions.
Open interest has already fallen substantially from its recent peak, so the market is less leveraged overall. The next signal is whether traders begin rebuilding exposure after support holds or continue withdrawing from the derivatives market.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
HSBC wins Bank of England approval to enter Digital Securities SandboxThe Bank of England approved HSBC Orion to go live in its Digital Securities Sandbox, with the first Digital Gilt Instrument transaction expected in the first quarter of 2027.
HSBC, one of the world’s largest banks, has received approval to operate in the United Kingdom’s Digital Securities Sandbox (DSS), allowing its digital assets platform, HSBC Orion, to support the issuance, servicing and settlement of digital securities.
The bank announced Tuesday that HSBC Orion will operate as a digital securities depository within the DSS, a regulatory environment designed to test new technology for securities markets. HSBC said it is the first company approved by the Bank of England to go live in the sandbox.
HSBC’s platform will support digitally native bond issuance, including the UK’s planned digital sovereign bond — Digital Gilt Instrument (DIGIT) — and corporate bonds. HSBC said HSBC Orion has enabled more than $5 billion in digital bond issuances globally.
HM Treasury said Thursday that the first DIGIT transaction is expected by Q1 2027, adding that HSBC and London Stock Exchange Group also signed a memorandum of understanding to develop connectivity that supports investor access to the pilot issuance.
Launched in 2024, the DSS is operated by the Bank of England and the Financial Conduct Authority to test distributed ledger technology for issuing, trading and settling securities in a live regulatory environment.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
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.
HSBC has secured approval to operate within the United Kingdom’s Digital Securities Sandbox (DSS), enabling its digital assets platform, HSBC Orion, to issue, service, and settle digital securities in a live regulatory framework.
HSBC Orion goes live in regulated testing environmentThe bank announced that HSBC Orion has been authorized as a digital securities depository within the DSS, a regulatory initiative aimed at testing new technologies for securities markets. HSBC stated it is the first company to receive the green light from the Bank of England to participate actively in the sandbox.
Through this approval, HSBC Orion will facilitate the issuance of digitally native bonds, including the planned Digital Gilt Instrument (DIGIT), which represents the UK’s digital version of a sovereign bond, as well as various corporate bonds. The platform has previously enabled over $5 billion in digital bond issuances on a global scale, according to HSBC.
HSBC highlighted its role as the first operator approved in the sandbox, stating that this step will support both government and corporate digital bond issuance.
Mini dictionary: HSBC Orion is HSBC’s proprietary digital assets platform designed to facilitate digital bond issuance, servicing, and settlement using advanced ledger technologies.
HM Treasury stated that the first transaction involving the Digital Gilt Instrument is anticipated by the first quarter of 2027. The treasury also confirmed that HSBC and London Stock Exchange Group have entered a memorandum of understanding to collaborate on infrastructure that improves investor access to these pioneering digital bond offerings.
Platform/InitiativeMain RoleNotable MilestoneHSBC OrionDigital securities depository and bond issuance platform$5 billion in digital bond issuances globallyDSS (UK Digital Securities Sandbox)Regulatory testing for digital securities technologyLaunched in 2024DIGIT (Digital Gilt Instrument)UK digital sovereign bond initiativeFirst transaction expected by Q1 2027Digital Securities Sandbox and regulatory collaborationThe DSS was introduced in 2024 and is jointly operated by the Bank of England and the Financial Conduct Authority. Its objective is to test technologies such as distributed ledger technology (DLT) for the real-time issuing, trading, and settling of securities under direct regulatory oversight.
Mini dictionary: The Digital Securities Sandbox (DSS) is a UK regulatory framework that allows financial institutions to experiment with digital securities technology in a live environment, while remaining under supervision by authorities.
The initiative is designed to position the UK at the forefront of digital finance experimentation, focusing on safeguarding market integrity, investor protection, and financial stability as major institutions deploy new digital products.
Through the DSS, authorities aim to balance innovation in capital markets with appropriate regulatory checks to ensure safe adoption of these emerging technologies.
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.
HSBC just became the first company to get a full green light from the Bank of England to operate a digital assets platform inside the UK’s Digital Securities Sandbox. The approval lets HSBC Orion function as a Digital Securities Depository, handling the issuance, servicing, and settlement of digitally native bonds.
This isn’t a proof of concept or a whitepaper promise. HSBC Orion has already facilitated over $5 billion in digital bond issuances globally, and now it has the regulatory blessing to bring that infrastructure to the UK’s domestic market.
What the approval actually means The Bank of England’s Digital Securities Sandbox is essentially a controlled testing ground. It lets financial firms experiment with distributed ledger technology under flexible regulatory rules that run until January 2029.
HSBC passed what’s called “Gate 2” of the sandbox process. It had already cleared Gate 1 back in July 2025, which was more of a preliminary nod. Gate 2 is the one that matters. It means the platform is now live and can actually process real transactions as a recognized depository.
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The platform itself isn’t new. HSBC Orion launched back in February 2023 and has since facilitated landmark digital bond transactions across multiple jurisdictions. What’s new is the UK regulatory stamp.
The digital gilt connection HM Treasury selected HSBC back in February 2026 as the platform provider for something called the Digital Gilt Instrument pilot, or DIGIT. This is essentially the UK government’s experiment with issuing tokenized government bonds.
The DIGIT pilot is expected to launch by the first quarter of 2027. The Orion platform’s new depository status is a prerequisite for making that pilot work.
Tokenized government bonds sound exotic, but the mechanics are straightforward. Instead of bonds being recorded across multiple intermediaries with T+1 or T+2 settlement windows, they live on a shared ledger. Settlement can happen faster, counterparty risk drops, and the whole chain of custody becomes more transparent.
Why this matters beyond HSBC The real significance here isn’t that one bank got an approval. It’s the precedent. Other major banks have been exploring tokenization, but none have secured this specific type of regulatory approval in the UK.
For investors, this approval validates the thesis that institutional adoption of tokenized assets is accelerating. The $5 billion in global digital bond issuances HSBC has already processed gives a sense of the existing demand, and UK regulatory approval should expand that addressable market.
The sandbox runs until January 2029, giving HSBC and any firms that follow roughly two and a half years to prove the model before permanent regulatory frameworks need to be finalized.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The most viewed coin on CoinGecko today is not Bitcoin, not Ethereum, and not a meme. It is Zano, a $9.94 privacy coin most traders could not have named a month ago. The reason it is there has a lot to do with Zcash, whose monster run this month sent the whole market hunting for the next privacy play. Before anyone buys a coin because it is trending, it helps to know what the thing actually is. That is what this guide is for.
Zano (ZANO) trades at $9.94 as of July 17, 2026, up 2.1% on the day, per CoinGecko, sitting first on the platform’s most-viewed list and inside the trending list at the same time. What follows is the plain-language version of what it does, why it exists, and what the honest risks are.
What Is Zano, in one paragraph Zano is an open-source layer-1 blockchain where privacy is the default, not a feature you switch on. Every transaction hides the sender, the receiver, the amount, and even which asset was transferred; an outside observer can only see that a transaction happened. This is enforced at the protocol level. Where Bitcoin is a glass ledger and most “privacy tools” are curtains you can choose to draw, Zano is built windowless from the foundation up.
Where it came from Zano descends from the CryptoNote lineage, the same cryptographic family that produced Monero, and it uses the classic toolkit of that school: ring signatures to obscure senders, stealth addresses generated fresh for every payment, and confidential transactions that hide amounts. What separates it from its ancestors is ambition. Zano is not positioned as just a private currency; it is a private platform, a base layer where developers can issue their own tokens and build applications that inherit the chain’s confidentiality automatically.
How it works: the four pieces that matter Privacy by default. Nothing to configure, no optional mixing, no opt-in shielded pool. Every ZANO is identical to every other, which gives the coin true fungibility: no unit carries a traceable history that an exchange or chain-analysis firm could flag or blacklist.
Hybrid consensus. Zano alternates Proof of Work and Proof of Stake blocks. An attacker would need to dominate both hashpower and stake simultaneously, so no single attack vector is sufficient. The staking side got its signature upgrade in the Zarcanum hardfork, which introduced something genuinely novel: the first Proof of Stake implementation with hidden amounts. You can stake without revealing how much you hold, extending privacy past transactions into consensus itself.
Confidential Assets. Anyone can issue tokens on Zano, and those tokens inherit the full privacy stack: hidden addresses, hidden amounts, hidden asset type. In practice this means private stablecoins, shielded versions of existing assets, and privacy-native project tokens, all without launching a separate blockchain. The chain’s built-in exchange, Zano Trade, uses a mechanism called Ionic Swaps for peer-to-peer trading where neither side gains an information advantage.
Selective transparency. For the situations where privacy is a problem rather than a solution, Zano offers auditable wallets: opt-in transparent wallets a business can use to prove balances to an auditor or counterparty, without weakening privacy for anyone else on the network. The project’s stated position on backdoors for authorities is a flat no; auditability is offered as the compliant alternative.
Smaller conveniences round it out: on-chain aliases (human-readable @names tied to addresses at the protocol level) and built-in TOR support in the wallet.
The tokenomics: a very small door Here is the number that explains Zano’s price behavior more than any feature list: the circulating supply is tiny, roughly 13 to 14 million coins per recent public data. At $9.94 that implies a market cap somewhere near $140 million, small-cap territory, and the float that actually trades is thinner still, spread across tier-2 exchanges rather than the majors. Small float plus sudden attention is a recipe for violent moves in both directions. The coin’s all-time high near $18.18, set in 2025, stands a little under double today’s price, and the road between here and there was never smooth.
Why is Zano trending right now? The honest answer: rotation. Zcash’s rally to above $500 this month, which our Zcash coverage tracked as the strongest large-cap move on the board, put the privacy narrative back at the center of the market. When a sector’s flagship reprices that hard, traders immediately go hunting down the shelf for the smaller names that have not moved yet, and Zano, as a technically respected privacy L1 with a microscopic float, is a natural candidate for that search. Most-viewed status measures curiosity, not commitment. Whether the lookers become buyers is precisely what the next weeks decide, and nothing obligates them to.
The honest risks Every privacy coin carries the same regulatory sword: exchange delistings and compliance pressure arrive without warning and without respecting charts, the exact gap risk we flag on every Zcash update. Zano adds three of its own. Its liquidity lives on second-tier venues, meaning exits get expensive exactly when everyone wants one. Its float is small enough that single large holders can move the price materially. And trend-driven attention, the thing lifting it today, is the least loyal force in crypto; coins have topped the most-viewed list on the way to both doublings and halvings. None of this is a verdict. All of it belongs in the decision.
Bottom Line Zano is one of the more technically serious projects in the privacy corner: default confidentiality, hidden-amount staking, private asset issuance, and a deliberate answer to the compliance question. It is also a sub-$150 million coin on thin exchanges, trending because its sector’s big brother went vertical. Learn it for what it is, a private financial base layer with real engineering, and size any position for what it also is, a small-cap riding a narrative. Both descriptions are true at once. They usually are.
This article is for information only and is not investment advice. Crypto assets are extremely volatile and you can lose your entire stake. Always do your own research.
Frequently Asked Questions What is Zano in simple terms? Zano is a layer-1 blockchain where every transaction is private by default: sender, receiver, amount and asset type are all hidden at the protocol level. It also lets developers issue private tokens and build apps on the same chain.
Is Zano like Monero? They share the CryptoNote cryptographic lineage and core privacy tools. Zano differs by being a platform for confidential assets and apps, using hybrid PoW/PoS consensus, and offering hidden-amount staking via its Zarcanum upgrade.
Can you stake Zano? Yes. Zano's Proof of Stake component supports staking with hidden amounts, meaning you can earn staking rewards without publicly revealing the size of your holdings.
Why is Zano trending today? Zano topped CoinGecko's most-viewed list at $9.94 on July 17, 2026, amid a broad rotation into privacy coins following Zcash's rally above $500 this month.
What is Zano's all-time high? About $18.18, set in 2025, a little under double the current price.
Is Zano a good investment? Zano combines serious privacy engineering with small-cap risks: thin liquidity on tier-2 exchanges, a very small float, and the regulatory pressure all privacy coins face. Treat it as high-risk speculation and verify current data before any decision.
AUTHOR
Farhan Karim is a technology writer and content strategist with 15+ years of experience writing thousands of articles, blogs, whitepapers, and ebooks on Blockchain, Cryptocurrency, and other tech niches. His expertise in content strategy, SEO, and a keen eye on the ever-evolving tech space have led him to work with companies like Pepsi, Huawei, Arab News, and now Blockchain Reporter.
Zano, a privacy-centric blockchain that has been quietly building since 2019, just pulled the curtain back on Zenith, a new consensus protocol that will move the entire network from its hybrid proof-of-work/proof-of-stake setup to a pure proof-of-stake model.
The announcement, made on July 16, positions Zenith as the most significant architectural change in Zano’s history. A full network transition is targeted for 2027, with no specific activation date locked in yet. In the meantime, the project has a more immediate milestone on the calendar: Hard Fork 6, expected to activate around August 25-27, which will introduce new gateway addresses to the ecosystem.
What Zenith actually changes Zenith cuts target block time from 60 seconds down to approximately 15 seconds. Recommended confirmations drop from 10 to just 4-6, which means typical confirmation times land somewhere in the 60- to 90-second range.
First, all transaction fees will be burned. Not partially redistributed to validators, not sent to a treasury. Burned. Every fee paid on every transaction gets permanently removed from the circulating supply.
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Second, the protocol is moving to a lower block reward emission schedule. Validators will still earn rewards for producing blocks, but those rewards will be smaller than what miners and stakers received under the hybrid model.
Third, Zenith introduces what the team calls “ephemeral blocks” to optimize chain size and efficiency, designed to prevent the blockchain from bloating as transaction volume increases.
Privacy stays private Zano solved the challenge of private staking with Zarcanum, a protocol the team developed that enables fully private staking. Stake amounts remain hidden, and block production is non-linkable, meaning observers cannot connect a specific validator to a specific block. Zenith builds directly on top of this foundation, so the transition to pure PoS does not compromise any of the privacy guarantees that already exist.
The project has been working on this in collaboration with Common Prefix, a blockchain research and development firm.
The broader context for privacy chains Zano’s mainnet launched in 2019 with a hybrid consensus model that let users both mine and stake. The shift to pure PoS simplifies that architecture, removing two consensus mechanisms, two potential attack vectors, more complicated upgrade paths, and higher overhead for node operators.
What this means for investors The combination of burned transaction fees and reduced block rewards creates a dual supply reduction mechanism. Moving entirely off proof-of-work also eliminates the energy-intensive mining component.
The Hard Fork 6 activation in late August will serve as an immediate proving ground for the team’s ability to execute network upgrades on schedule, with gateway addresses being introduced as the primary change in that fork.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Brain (BRAIN), a new memecoin developed on the Base blockchain, experienced a remarkable surge after Coinbase CEO Brian Armstrong changed his social media profile picture. Investors interpreted Armstrong’s move as indirect support for the project, causing the token’s price to rise sharply in a short time, with its market capitalization briefly exceeding $30 million.
According to market data, BRAIN’s total market capitalization later declined slightly, stabilizing at approximately $20.14 million. Despite this, the token achieved one of the most remarkable performances of the day, gaining over 3,800% in value in the last 24 hours.
The main reason for the rise is said to be Coinbase CEO Brian Armstrong changing his profile picture on social media to an image resembling the Brain token’s symbol.
Despite the lack of an official statement of support, investors viewed this change as a positive signal. In the cryptocurrency market, particularly for memecoin projects, social media interactions and posts by well-known figures can have a significant impact on price movements.
Brain is among the projects using the new B20 token standard introduced with the latest update to the Base network. This technical infrastructure aims to facilitate the development of next-generation token projects within the Base ecosystem.
According to on-chain data, there are approximately 8,850 wallet addresses holding the BRAIN token. Furthermore, it’s noted that 12.68% of the supply is held in the top 10 wallets. This distribution indicates a relatively concentrated ownership structure for the token.
Analysts emphasize that such sharp increases in the memecoin market involve high volatility and significant price fluctuations can occur in a short period. According to experts, price movements originating from social media may not necessarily signify a lasting increase in value. Therefore, investors should consider the project’s technical infrastructure, liquidity, and risk factors before making transactions, rather than solely relying on popularity or speculation.
*This is not investment advice.
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MEXC, a pioneer in 0-fee digital asset trading, has listed five Ondo tokenized stock trading pairs on its spot market in collaboration with Ondo Finance. The five companies span a supply chain that runs from semiconductor and precision component manufacturing to industrial cooling and power infrastructure supporting AI data centers, allowing users to trade these U.S. stocks using USDT on MEXC around the clock, with instant settlement and no traditional brokerage account required.
The trading pairs include tokenized shares of STMicroelectronics N.V. (STMON/USDT), Fabrinet (FNON/USDT), Trane Technologies (TTON/USDT), Amphenol (APHON/USDT) and Quanta Services (PWRON/USDT). All five pairs went live for spot trading at 13:30 on July 16, 2026 (UTC), with withdrawals set to open at 13:30 on July 17, 2026 (UTC).
Ondo Finance brings traditional financial assets on-chain through compliant infrastructure, giving users access to U.S. stocks and ETFs in a blockchain-native format. Each tokenized asset is backed by the corresponding underlying security held through regulated custodial brokers, allowing users to purchase fractional amounts and giving holders the same economic exposure as the underlying stock, with dividends automatically reflected in token value. The listing further broadens the range of traditional assets available for MEXC users to trade.
To meet different user needs, MEXC offers multiple pathways for U.S. equity exposure: users can trade Ondo’s tokenized stocks on the platform, or directly purchase real shares of U.S.-listed companies through RealStocks, which now covers more than 7,000 U.S. stocks and ETFs, holding the corresponding stock assets, participating in price movements, and enjoying the full benefits of stock ownership.
About MEXC MEXC is the world’s fastest-growing cryptocurrency exchange, trusted by more than 40 million users across 170+ markets. Built on a user-first philosophy, MEXC offers industry-leading 0-fee trading and access to over 3,000 digital assets. As the Gateway to Infinite Opportunities, MEXC provides a single platform where users can easily trade cryptocurrencies alongside tokenized assets, including stocks, ETFs, commodities, and precious metals.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC
This content does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.
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SBI announced three major crypto and blockchain moves this week, including partnerships with Solana and Ondon Finance. (Chris 73/Wikimedia Commons)Summary
Japan’s SBI Group acquired a majority stake in Singapore-based crypto platform Coinhako as part of a broader push to build a global digital asset corridor across Asia.The company is expanding its digital asset footprint through partnerships with Ondo Finance and the Solana Foundation to tokenize real-world assets and develop yen-based on-chain settlement using its JPYSC stablecoin, though JPYSC cannot yet be moved to external wallets.Recent deals, including the planned purchase of Tokyo exchange Bitbank and investments in EDX Markets and Gauntlet, reflect SBI’s long-term strategy to control the full digital asset value chain rather than chase short-term crypto market cycles.SBI Group acquired a majority stake in Singapore-based crypto platform Coinhako, the Japanese financial services conglomerate said on Friday. Coinhako holds a Major Payment Institution license from the Monetary Authority of Singapore (MAS) and operates in Singapore, SBI said.
"The SBI Group seeks to establish a global corridor for digital assets by connecting exchanges worldwide," Yoshitaka Kitao, CEO of SBI Holdings, Japan’s largest online securities firm with more than 14 million users and $308 billion in assets under custody.
The acquisition follows SBI teaming up with Ondo Finance on Thursday to tokenize Japanese equities and other assets using its JPYSC stablecoin for settlement.
The company's regional expansion is also backed by a new partnership with the Solana Foundation. Under the agreement, the foundation will take an equity stake in SBI R3 Japan, which will be renamed SBI Solana Global. The new entity will focus on issuing stablecoins and on tokenizing real-world assets, such as corporate bonds and real estate.
The company said the strategy is intended to connect traditional financial markets with blockchain-based infrastructure.
“SBI is the first financial group in Asia to go after the entire digital asset value chain at once, from issuance and settlement through trading infrastructure, asset management and retail distribution, and to do it across the region rather than only at home,” Joseph Goh, director and head of Asia Pacific at crypto investment banking and advisory firm Areta, told CoinDesk.
“The real prize is the yen side of onchain settlement, one of the most strategic positions in Asian finance over the coming decade, and that is exactly what SBI is building toward,” he added.
One technical limitation remains. JPYSC does not yet support withdrawals to external wallets.
"Regarding JPYSC, its use is currently limited to accounts within SBI VC Trade, and it does not yet support withdrawals to external wallets or remittances and settlements via public blockchains," the spokesperson said.
For now, that limits JPYSC's use outside SBI's own platform. Investors cannot yet move the stablecoin to external wallets or use it to settle transactions across public blockchains.
Sota Watanabe, CEO of Startale Group, which works with SBI Holdings on JPYSC, said the company's continued investment in digital assets reflects what he sees as growing institutional confidence in blockchain infrastructure.
"SBI Holdings' continued commitment to digital assets likely signals confidence in the future architecture of global finance," Watanabe told CoinDesk.
He said blockchain is increasingly being viewed as financial infrastructure rather than an emerging technology, adding that Japan is well-positioned to lead the sector due to its regulatory framework and financial institutions.
SBI expansionSBI agreed to buy Tokyo-based cryptocurrency exchange Bitbank for around $289 million in June. The acquisition is expected to close in October, subject to regulatory approval. SBI previously acquired crypto exchange Bitpoint in 2022. The firm also led a $76 million Series C funding round for institutional exchange EDX Markets and a $25 million Series C round for crypto risk manager Gauntlet, the spokesperson said.
SBI said these investments are part of its effort to build an end-to-end digital asset business spanning exchanges, tokenization, stablecoins and blockchain infrastructure across Asia.
The company said its investment strategy is based on long-term infrastructure development rather than short-term crypto market cycles.
"In light of the expansion of cryptocurrency ETFs in the United States, as institutional investor participation raises liquidity, market credibility, and risk management standards, we expect that retail participation will also expand, and both will develop in a mutually complementary manner," the spokesperson said.
The spokesperson said the company's investments and expansion are not driven by short-term market sentiment.
Activity around Ondo Finance [ONDO] is picking up! This is happening in tandem with its new infrastructure and partnerships, so it looks like good days are ahead.
Here’s the latest.
Ondo Finance’s on-chain activity shoots up Per Santiment Intelligence, new addresses have increased for three straight days. The metric hit 754 on July 16; that’s about twice the pace seen earlier in the month. Daily active addresses also followed the pattern, going from 1,410 to 2,589 over the same period.
Source: Santiment Intelligence The key inference here, is that new developments have attracted attention to the platform.
Ondo recently launched tokenized stock representations using entitlements generated through DTCC’s tokenization infrastructure. This connects its products more closely with the systems used in traditional US markets.
The company stated that with this, they’re joining a select club of leading TradFi and DeFi firms. Some of the other well known names include BlackRock, JPMorgan, Goldman Sachs, Nasdaq, and the NYSE.
It also partnered with Japan’s SBI Group to bring Japanese equities onchain. The aim is to distribute Ondo products through SBI’s network and explore the use of a yen-backed stablecoin for settlement.
About the same, Ian De Bode, CEO, Ondo Finance, said,
This collaboration creates a path to bring Japanese assets onchain and to connect Japan with the global tokenized economy.
Venice AI updates its token economics: introduces a buyback mechanism and raises the supply cap for DIEM.
Venice AI has issued an announcement updating its token economics, with two primary changes: First, a new programmed burn mechanism: For every $100 worth of API credits purchased, $5 will be allocated to buy VVV on the open market and permanently burn the tokens. Second, DIEM’s supply target has been raised for the first time, from 38,000 to 40,000 (an increase of 2,000 units). The adjustment will be rolled out in phases, with the full target expected to be achieved by September 14.
3 hours ago
Trump Media Company prices exclusive early access to Trump’s posts at $100,000 per month.
According to the Financial Times, Trump Media & Technology Group is pitching a $100,000 monthly service to clients that delivers fast access to former President Donald Trump’s posts. Earlier reports noted that Trump Media would sell premium, faster access to posts on its Truth Social platform; the new service allows traders and investors to pay for real-time pushes of Truth Social content. This data feed service will launch next month for institutional clients, including high-frequency algorithmic trading firms.
3 hours ago
Cardano will hand over control of its core software to an external team starting in August.
Cardano developer Input Output will transfer control of key blockchain components—including Haskell nodes, the Plutus platform, and the Daedalus wallet—to external professional teams starting in August, as part of its multi-year decentralization initiative. Independent firms such as Se7en Labs and Teragone will oversee portions of the core infrastructure. At least three Cardano implementations will be maintained in Haskell, Rust, and Go, under community oversight and formal specification management. Cardano is currently grappling with weak network activity and a sharp drop in the ADA token’s price. Founder Charles Hoskinson framed the restructuring and ecosystem-related setbacks as necessary "growing pains" on the path to full decentralization.
3 hours ago
France blocks prediction market Polymarket.
French gambling regulator ANJ announced on July 17 that Polymarket’s website will be blocked in France, following its November 2024 ban on financial transactions with the platform. The ANJ stated that the site’s ongoing operation—with real-time updated odds for various events—qualifies as advertising. Even after banning French accounts from conducting trades on Polymarket, accesses to the platform from French internet addresses have continued to rise, reaching 578,751 visits in June.
3 hours ago
Meta is in talks with Anthropic over a computing power leasing agreement, with the potential deal valued at up to $10 billion.
According to The New York Times, Meta Platforms is in talks with Anthropic over a computing power leasing agreement, with the potential deal size reaching up to $10 billion for a two-year term. The negotiations remain in the early stages. Additionally, market data from BIT (bit.com) shows Meta's share decline has narrowed to 3%.
3 hours ago
Serenity: Its investment portfolio has posted a nearly 50% drawdown this month, and it firmly believes that the current round of adjustment is merely leverage-driven volatility, with its growth logic remaining intact.
Serenity posted a statement noting that their portfolio suffered a 49.4% drawdown this month, with main holdings concentrated in AI bottleneck sectors including memory, photonics, robotics, and upstream semiconductors. Serenity acknowledged pressure from the short-term market crash, but maintained that the volatility stems from liquidity and leverage rather than a breakdown in the structural growth logic of these fields.
TLDR: Hyperliquid price falls about 12% toward $59 as suspected a16z-linked wallets move nearly $59 million in HYPE across several exchanges. Long liquidations reach roughly $14.61 million, while open interest drops on Binance and Bybit as leveraged traders reduce exposure. HYPE breaks below a symmetrical triangle and its major four-hour moving averages, placing the $57 to $59 demand zone under pressure. A loss of $57 could expose $55.55, $52.65, and the deeper $42.74 to $43.30 zone, while any rebound first faces resistance near $63. Hyperliquid price prediction signals turn cautious after HYPE drops about 12% within 24 hours. The token trades near $59 after falling from a daily high above $66. Trading volume also rises as sellers move large positions across several exchanges.
The decline follows major transfers from wallets reportedly linked to venture capital firm a16z. One address deposits about 437,000 HYPE, worth approximately $28.38 million, across Hyperliquid, OKX, Bybit, and Gate. A second suspected wallet adds further pressure, taking the combined transfers close to $59 million.
Hyperliquid Price Prediction Weakens After Whale Sales On-chain trackers identify the first wallet as an address that previously accumulated a large HYPE position. The wallet reportedly withdraws 471,500 tokens before routing most of them toward exchange deposit addresses.
The second wallet receives HYPE from several connected addresses and sends portions to OKX and Bybit. It also transfers stablecoins to Kraken. Distributing funds across several venues may reduce the effect on one order book, although exchange deposits do not confirm that every token has sold.
🚨 An a16z-linked whale has deposited 𝟰𝟯𝟳𝗞 𝗛𝗬𝗣𝗘 ($𝟮𝟴.𝟯𝟴𝗠) across Hyperliquid, OKX, Bybit, and Gate over 2 days — a second suspected a16z wallet moved another $𝟯𝟬.𝟱𝟳𝗠 to exchanges. HYPE has fallen 𝟭𝟮% over the same window.
𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: Two a16z-linked… pic.twitter.com/2vTiBiGSZY
— Hupzy (Spot On Chain) (@hupzy_agent) July 17, 2026
The timing places the transfers at the centre of the latest Hyperliquid price prediction. HYPE falls as the deposits reach exchanges, while higher spot volume reflects heavier market participation. CoinGecko data also shows a sharp weekly decline during the broader market pullback.
Derivative activity adds pressure. Most reported HYPE liquidations come from long positions, showing that leveraged buyers carry the largest losses. Open interest also falls as traders close positions and reduce exposure.
That combination often creates unstable conditions. Forced liquidations can accelerate a decline, while lower leverage may later reduce additional selling. The current data does not confirm that the liquidation cycle has ended.
Hyperliquid also recently joined discussions with the SEC Crypto Task Force. The July 14 meeting covers the protocol, its markets, and possible routes for compliant access to on-chain trading.
HYPE Tests Demand as Bearish Chart Pressure Builds The four-hour chart places HYPE near a demand area between $57 and $59. This zone supported the early July rally and now acts as the main level within the Hyperliquid price prediction.
Price trades below the 20, 50, 100, and 200-period exponential moving averages. Those averages are turning lower, while the latest rebound forms a lower high near $68.93. The structure shows sellers gaining control after the earlier rejection around $72.
Meanwhile, the Relative Strength Index drops near 27, placing HYPE in oversold territory. That reading may support a relief rebound, but it does not confirm a lasting reversal.
Source: TradingView Holding the demand zone could allow price to retest the moving-average cluster between $63 and $66. A stronger recovery would then place $68.93 and the $71.85 to $72.93 supply area in focus.
A confirmed break below $57 would weaken the Hyperliquid price prediction further. The next support levels sit near $55.55 and $52.65. A deeper decline could expose the wider $42.74 to $43.30 area if exchange inflows and derivatives selling persist.
Competition for decentralized trading volume also draws attention. Robinhood Chain recently surpassed Hyperliquid during individual 24-hour periods, helped by heavy memecoin trading and new network activity.
Crypto-style derivatives and prediction markets have gained a foothold in AI compute markets, as reported by The Block. New offerings from Architect Financial Technologies and Hyperbolic Labs have introduced perpetual futures tied to GPU and DRAM rental benchmarks, preceding the anticipated futures from CME Group and ICE that await regulatory approval. This development marks a significant milestone in the financialization of AI infrastructure, with crypto derivatives currently offering the only hedging tools for AI compute volatility. The launch of these products indicates a swift movement towards treating GPU capacity as a commodity, with implications for both traditional finance and the cryptocurrency markets.
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Key Takeaways Market activity suggests growing interest in crypto-style derivatives for AI compute, as indicated by the launch of perpetual futures by Architect Financial Technologies and Hyperbolic Labs. The absence of regulatory-approved futures from CME and ICE points to crypto derivatives as the current primary mechanism for hedging AI compute costs. The introduction of these financial products may indicate increased investment interest in related assets, such as Hyperliquid, as markets adapt to new hedging tools. What to Watch Market participants may observe potential regulatory developments from CME and ICE that could influence the landscape of AI compute futures. Any progress towards approval of these futures might shift interest away from crypto derivatives. Additionally, changes in market sentiment or new partnerships involving Hyperliquid could further impact pricing dynamics. Key indicators to monitor include institutional involvement and technological advancements in AI infrastructure.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 30% — — View market → January 1 2027 6.2% — — View market → January 1 2027 4% — — View market → January 1 2027 65.5% — — View market → January 1 2027 9.2% — — View market → January 1 2027 4.5% — — View market →
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.
Venice AI updates its token economics: introduces a buyback mechanism and raises the supply cap for DIEM.
Venice AI has issued an announcement updating its token economics, with two primary changes: First, a new programmed burn mechanism: For every $100 worth of API credits purchased, $5 will be allocated to buy VVV on the open market and permanently burn the tokens. Second, DIEM’s supply target has been raised for the first time, from 38,000 to 40,000 (an increase of 2,000 units). The adjustment will be rolled out in phases, with the full target expected to be achieved by September 14.
3 hours ago
Trump Media Company prices exclusive early access to Trump’s posts at $100,000 per month.
According to the Financial Times, Trump Media & Technology Group is pitching a $100,000 monthly service to clients that delivers fast access to former President Donald Trump’s posts. Earlier reports noted that Trump Media would sell premium, faster access to posts on its Truth Social platform; the new service allows traders and investors to pay for real-time pushes of Truth Social content. This data feed service will launch next month for institutional clients, including high-frequency algorithmic trading firms.
3 hours ago
Cardano will hand over control of its core software to an external team starting in August.
Cardano developer Input Output will transfer control of key blockchain components—including Haskell nodes, the Plutus platform, and the Daedalus wallet—to external professional teams starting in August, as part of its multi-year decentralization initiative. Independent firms such as Se7en Labs and Teragone will oversee portions of the core infrastructure. At least three Cardano implementations will be maintained in Haskell, Rust, and Go, under community oversight and formal specification management. Cardano is currently grappling with weak network activity and a sharp drop in the ADA token’s price. Founder Charles Hoskinson framed the restructuring and ecosystem-related setbacks as necessary "growing pains" on the path to full decentralization.
3 hours ago
France blocks prediction market Polymarket.
French gambling regulator ANJ announced on July 17 that Polymarket’s website will be blocked in France, following its November 2024 ban on financial transactions with the platform. The ANJ stated that the site’s ongoing operation—with real-time updated odds for various events—qualifies as advertising. Even after banning French accounts from conducting trades on Polymarket, accesses to the platform from French internet addresses have continued to rise, reaching 578,751 visits in June.
3 hours ago
Meta is in talks with Anthropic over a computing power leasing agreement, with the potential deal valued at up to $10 billion.
According to The New York Times, Meta Platforms is in talks with Anthropic over a computing power leasing agreement, with the potential deal size reaching up to $10 billion for a two-year term. The negotiations remain in the early stages. Additionally, market data from BIT (bit.com) shows Meta's share decline has narrowed to 3%.
3 hours ago
Serenity: Its investment portfolio has posted a nearly 50% drawdown this month, and it firmly believes that the current round of adjustment is merely leverage-driven volatility, with its growth logic remaining intact.
Serenity posted a statement noting that their portfolio suffered a 49.4% drawdown this month, with main holdings concentrated in AI bottleneck sectors including memory, photonics, robotics, and upstream semiconductors. Serenity acknowledged pressure from the short-term market crash, but maintained that the volatility stems from liquidity and leverage rather than a breakdown in the structural growth logic of these fields.
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.
HyperCore data is now on Arkham Intel. You can now see an address’s Hyperliquid trades, current positions and performance.
Hyperliquid Positions
Hyperliquid positions have been added as part of an address’s cross-chain portfolio. You can see an entity’s current perpetual positions alongside their spot holdings on ETH, Solana, and HyperEVM. Across all of their wallets, Abraxas Capital has over $1 Billion in combined on-chain spot and perpetual margin.
Past Performance
Hyperliquid PnL has been added to an address’s Balance Graph module. See anyone’s Hyperliquid performance alongside their on-chain PnL. Want to know if someone is better at perps or on-chain? Compare their PnL with one click.
Hyperliquid Trades
Review a complete record of any address or entity’s trades on Hyperliquid. Filter their trades by market, size, or even time period.Arkham shows you a complete record of any entity’s trades over any time period. You can also filter for trades executed within a certain price range or at a certain sizing.
The Robinhood Chain memecoin's slide has erased most of a 4,000% run, even as its spot price held through a 60% perp wick that liquidated leveraged traders.
CASHCAT, the flagship token of the two-week-old Robinhood Chain, has fallen roughly 70% from its record high, unwinding most of the run that briefly carried its market value above $200 million after leveraged trading arrived.
The token changed hands at about $0.065 on Friday, down about 70% from its all-time high of $0.2278 set on July 11, according to CoinGecko. CASHCAT dropped about 25% in the past 24 hours and roughly 58% over the past week. Bitcoin was little changed over the same 24 hours and Ether fell about 2%, according to CoinGecko. The token's market value stood near $63 million, down from a peak of $200 million.
The decline shows how quickly a thin, newly created token can retrace. CASHCAT existed for under two weeks before Hyperliquid, the largest onchain perpetuals exchange by volume, and Binance's wallet added leveraged markets, drawing speculative flows into an asset backed by shallow spot liquidity.
'Not an Endorsement of the Project'Hyperliquid listed CASHCAT perpetual futures on July 11, capping the market at 3x leverage with isolated margin.
"By community request, you can now long or short $CASHCAT perps with up to 3x leverage," Hyperliquid said in a post on X, adding that trading was restricted to "low leverage and isolated margin only" and that the "listing is not an endorsement of the project."
Isolated margin limits a trader's losses to the collateral posted for a single position rather than drawing on the full account balance. The 3x cap is conservative for a memecoin market, where venues often allow far higher leverage.
Binance's wallet followed on July 14 with a CASHCAT perpetual offering up to 10x leverage, according to the exchange.
A 60% Wick Shortly after the Hyperliquid listing, the CASHCAT perpetual collapsed more than 60% in minutes, wicking from above $0.19 to roughly $0.08 before rebounding, while the spot price barely moved.
The gap between the two markets points to the mechanics of a new derivatives venue attached to a thinly traded asset, rather than a broad selloff in the token. Because the perpetual settles against a spot index that never fell as far, the wick hit leveraged position holders while spot buyers were largely untouched.
CASHCAT launched on Robinhood Chain, the network Robinhood brought to mainnet on July 1, and takes its name and mascot from the company's pre-launch branding. The token has no formal affiliation with Robinhood. It rose more than 4,000% in its first week as it dominated activity on the new chain, before the leveraged markets opened and the retracement began.
