Track market-moving stories before they get noisy

NEAR Protocol just rewrote its economic rulebook. The protocol’s on-chain governance body, House of Stake, passed proposal HSP-027 between June 20 and 27, 2026, voting to eliminate the developer gas rebate entirely. Starting with a nearcore upgrade expected around August 2026, every eligible execution fee on the network will be burned rather than partially returned to smart-contract owners.

NEAR co-founder Illia Polosukhin confirmed the vote’s outcome, endorsing the shift toward full fee burns as a step in the right direction for the NEAR token’s long-term economics.

What was the rebate, and why kill it now? The 30% developer gas rebate let smart-contract owners reclaim a slice of the gas fees their contracts generated. The average rebate per contract fell from roughly 27.6 NEAR in June 2025 to just 1 to 5 NEAR per month by 2026.

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Proposal HSP-027, authored by NEAR One’s Anton Astafiev, made the case that the rebate had diluted to the point of irrelevance. No significant dissent was recorded during the discussion period.

The implementation timeline is tied to the nearcore v2.14 upgrade, currently scheduled for around August 2026. Until that upgrade ships, the existing rebate mechanics remain in place.

The deflationary mechanics behind the vote Under the old model, 30% of eligible execution fees were recycled back to contract developers. Under the new model, those same fees get burned, permanently removing NEAR from circulation.

What this means for developers and investors For developers currently building on NEAR, if your dApp was accounting for gas rebates as any part of its revenue model, that line item disappears when nearcore v2.14 ships. For most projects, 1 to 5 NEAR per month was barely worth the accounting overhead. The governance proposal acknowledged this, with the community framing the change as a push toward more sustainable business models.

HSP-027 passed without significant opposition. Watch the August nearcore v2.14 upgrade closely, as the on-chain burn data in the weeks following implementation will be the first real-world test of how much additional supply pressure the rebate removal generates.

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

Team1, the global community arm of the Avalanche ecosystem, has rolled out a new Builder Grants program designed to put money directly into the hands of early-stage builders. The program offers two tiers of funding: Mini Grants of up to $10,000 and Accelerator Grants that can reach $30,000.

The program launched on July 1, 2026.

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Two tiers, two different builders Mini Grants, capped at $10,000, target what Team1 calls “budding entrepreneurs.” Accelerator Grants step things up to $30,000 and come with a more rigorous selection process. A voting committee made up of both Avalanche insiders and community members decides who gets funded.

Team1’s growing role in Avalanche Team1 isn’t new to the Avalanche ecosystem, and it isn’t operating on a shoestring budget. The group received a $1.15 million grant from the Avalanche Foundation back in December 2024, funding that was earmarked for community support and operational expansion.

The organization now claims more than 450 members spread across over 40 countries. Its playbook includes events, workshops, and educational resources, all aimed at converting curious developers into active Avalanche builders.

What this means for the Avalanche ecosystem and investors The $1.15 million that the Avalanche Foundation invested in Team1 in late 2024 is now being recycled into direct builder support. For AVAX holders, more builders on Avalanche means more applications, which means more transactions, which means more demand for the network’s native token.

The limited external coverage of this initiative suggests Team1 is playing an inside game, focusing on converting its existing community of 450-plus members into active builders rather than making a splash for the broader crypto market.

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

In the run-up to a major release, Aqua, we have strengthened our leadership team by appointing a chief product and technology officer and a new head of product design.

As Chief Product and Technology Officer (CPTO), Holly Atkinson will focus on shaping product strategy to ensure that 1inch continues to innovate with its core routing infrastructure and successfully launches a new shared liquidity product, Aqua.

Holly brings experience across full-stack engineering, blockchain architecture, product development and executive leadership. Before joining 1inch, she worked as a Blockchain Architect at The Sandbox, led metaverse technology initiatives at Boson Protocol and began her Web3 career as a Full Stack Engineer at Tracr.

1inch also welcomes George Evans as Head of Product Design. George joins us with more than 15 years of experience building and leading design teams at companies including Careem, Noon and Majid Al Futtaim. At 1inch, he will lead the product design function, focusing on creating intuitive user experiences, strengthening design across the product portfolio and ensuring design plays a central role in product development.

These appointments come as we prepare for major product launches. Following recent major integrations, including the partnership with Robinhood Chain to expand access to tokenized real-world assets, we are preparing the public launch of Aqua, a shared liquidity protocol. 

As one of the company's most significant upcoming initiatives, Aqua is designed to address liquidity fragmentation across DeFi and contribute to the next generation of on-chain finance infrastructure.

Check out 1inch products.

Hyperliquid’s suite of spot ETFs just pulled in $112 million in a single week, setting a new record for the decentralized perpetual futures platform. The bulk of that capital flowed into Grayscale’s HYPG, a staking ETF that launched on June 3, 2026, and has already accumulated roughly $128.6 million in assets under management.

The numbers behind the HYPE Three ETFs currently offer exposure to Hyperliquid’s native HYPE token: 21Shares’ THYP, Bitwise’s BHYP, and Grayscale’s HYPG. All three launched between mid-May and early June 2026, and the early data is striking.

Combined cumulative net inflows topped $150 million within just the first month of trading. By mid-June, the trio had amassed roughly $209 million in total assets, representing about 1.4% of HYPE’s market cap.

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Trading volume across the three products surged to nearly $900 million. THYP and BHYP hit peak daily inflows of approximately $25.5 million around May 20-21, contributing to weekly records that exceeded $70 million before HYPG even entered the picture.

Not a single week of net outflows has been recorded across any of the three funds in early data. HYPE experienced an eight-day inflow streak in late May that coincided with the token’s price surging past the $62 to $73 range, with the token hitting multiple all-time highs and peaking somewhere between $60 and $75.

Why institutions are paying attention Grayscale’s HYPG charges a 0.29% management fee and offers staking rewards north of 2% annually, giving investors exposure to HYPE’s price action while earning yield through a regulated wrapper.

Hyperliquid itself runs on a custom Layer-1 blockchain with sub-second transaction finality. The platform built its reputation as the dominant venue for decentralized perpetual futures trading, but it’s been expanding into stocks and commodities.

During the same period that HYPE ETFs were setting records, Bitcoin and Ethereum ETFs experienced outflows, with investors appearing to rebalance toward HYPE products for regulated exposure.

What this means for investors The $209 million in combined ETF assets representing only 1.4% of HYPE’s market cap suggests substantial room for growth if institutional adoption deepens, compared to Bitcoin ETFs where ETF holdings represent a significantly larger share of total supply.

Risks remain real. Hyperliquid’s platform concentration in derivatives trading means a single exploit or regulatory action could dent confidence quickly. The expansion into stocks and commodities adds another variable: if Hyperliquid successfully bridges traditional and crypto markets on a single infrastructure layer, the HYPE token’s value proposition grows considerably.

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

Source: Binance EN

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From its all-time high of $126,198 in October 2025, Bitcoin has fallen over 51% to its current price of slightly above $62,000.

Recent releases from three on-chain datasets that came out in quick succession paint a picture that goes beyond a simple price chart: this correction seems to be structurally distinct from the ones that came before it.

The Efficiency Problem Is Real, And It's Not Going Away

On July 1, Ki Young Ju, CEO of CryptoQuant, offered a comprehensive examination of capital efficiency over Bitcoin's cycles.

This research offers a different viewpoint on the idea that "Bitcoin still has 10x left" regarding its potential for growth.

The astounding return of 55,436% was the product of $2.7 billion in net inflows in 2011. A return of around 2,000% was achieved on an investment of $365 billion between 2018 and 2021.

A meager 689% gain has been produced by $697 billion in realised-cap growth in the current cycle.

An injection of about $5 million in fresh cash was necessary in 2011 to accomplish a doubling of the price. Currently, $101 billion is the anticipated sum needed.

It's time to reevaluate Bitcoin's essence, and that's not merely a minor point.

Institutional investors are now needed to make a dent in a market where millions used to be enough to make a dent.

Ju's analysis emphasizes how dire the situation is: Bitcoin needs to gain more than $1 trillion in fresh market capitalization to experience another parabolic leap.

This calls for seeing it as an essential macro allocation instead of just an ETF transaction aimed at ordinary investors.

The market value of gold is over $27 trillion.

About $1.3 trillion is the market capitalization of Bitcoin.

While the gap suggests a bright future, the difficulties in streamlining processes are to blame for the slower pace of development and higher capital needs compared to the plans for 2017 or 2021.

Even if the monetary quantities involved are historically unprecedented, the technical conclusion is that future rallies will look less steep in percentage terms when compared to the last one.

Some important mathematical discoveries were recently brought to light by CryptoQuant, which makes it difficult for anybody to predict if Bitcoin will maintain its 2017 percentage increases.

The Float Is Drying Up - And That Cuts Both Ways

There is a change on the supply side that is arguably more closely related to the present price fluctuations than the efficiency narrative.

A record high of 79% of the supply was held by long-term investors, according to a study published June 15 by K33 Research.

Furthermore, as of June 6, just 218,421 BTC that had been dormant for more than two years were activated, which is the lowest amount seen since the same date in 2012, when just 70,600 BTC had migrated.

During what K33 calls a distribution phase in June 2024, 1.18 million BTC were released from cold storage.

Contrarily, according to on-chain tracker Alphractal, the percentage of long-term holders has risen to 78% from 74% in the last cycle.

Also, in the past few months, some 830,000 BTC have been moved out of temporary wallets.

K33's Vetle Lunde argues that record holder concentration, low reactivation, and dropping trading volume are not signs of fresh selling forces but rather a tendency that usually emerges in the later stages of Bitcoin downturn markets.

Logic dictates that there will be fewer coins available for trade when over 80% of them are dormant.

So, because the order book isn't as strong, prices are more affected by any spike in demand, be it from institutions, individual investors, or ETFs.

The way one sees liquidity dynamics is rather bullish, but it doesn't show whether demand will come through or not.

Investments from ETFs, stablecoin growth, and institutional interest have not yet reached levels that would suggest a long-term recovery, and this is the key point that businesses like Bitfinex, Wintermute, and Glassnode have been stressing.

Although supply-side tightening is critical, it is not sufficient to ensure a market bottom on its own.

CoinDesk data from late June showed that long-term investors were holding almost 5.58 million BTC at a loss, which was the second-highest total ever recorded, second only to March 2020.

Despite this group's total percentage of supply continuing to expand, this occurs. In the same tales, one will find both confidence and hardship.

The P&L Signal: Fourth Time This Metric Has Flashed Since 2022

Among the data points published by CryptoQuant on July 3, the most recent and important aspect stands out.

The realized profit-and-loss ratio of Bitcoin has dropped to -0.35, the lowest level in 43 months.

This slump is reminiscent of December 2022, just after the FTX collapse, when BTC was worth less than $16,000.

Significant market rallies followed readings below -0.35 in 2015 and 2019, according to CryptoQuant's historical data.

This indicator shows how much of the total supply is now making money as opposed to losing money, as calculated on a realized basis.

Capitulation has already taken place, not that it is imminent; according to readings, this is negative.

Crucial is the context.

With a low of around $57,950 achieved on July 1, BTC hit its lowest price in 652 days. In the duration after, it saw a 7% bounce and is now trading between $61,000 and $63,000.

Adam Livingston of Swan Bitcoin points out that the current price of Bitcoin is just 16% higher than its realized value.

Returns of 41% for six months and 81% for twelve months have been achieved in the past thanks to this spread.

Matt Hougan, CIO of Bitwise, brought up the unwinding of Strategy's Stretch (STRC) preferred shares in a recent thread.

There were worries regarding the long-term viability of dividends connected to Michael Saylor's treasury concept when this stock dropped below its $100 par value to about $75 in June.

Instead of portending imminent stress, Hougan posited that this occurrence could have contributed to the system's elimination of unnecessary risk.

The market is currently assessing a clearly defined barrier.

Despite four separate tests this year, $60,000 support has remained strong, and centralized exchange inflows have remained around 50,000 BTC per day, suggesting a tendency of exhaustion rather than aggressive selling, whenever selling pressure has escalated.

If one looks at the daily and weekly charts, one could see a potential "W" reversal forming.

This would coincide with the lower Bollinger Band and show tiny fractal patterns inside the bigger framework, according to experienced technician John Bollinger.

If the price falls below $60,000, it will expose the realized-price region around $53,000, which proponents of the capitulation bottom argument must defend if it is to remain valid.

The Macro Overlay

All of these deals take place within a larger macro framework.

BlackRock's IBIT has led the way in redemptions, with spot Bitcoin ETFs marking their worst month since their launch in June, seeing net outflows of over $4.5 billion.

K33 reports that sales have slowed but have not yet translated into cash inflows.

The markets are still adjusting to the idea of a Federal Open Market Committee headed by Kevin Warsh, and the change in leadership at the Federal Reserve creates substantial uncertainty.

Interest rate policy has always been a major short-term driver for Bitcoin.

There has been a little reduction in the probability of rate rises following a June employment report that was disappointing, adding just 57,000 jobs instead of the expected 100,000+.

With the launch of meinKrypto by DZ Bank for Bitcoin trading and custody under MiCA and the preparations underway for a similar rollout by DekaBank across about 340 German savings banks, institutional plumbing is slowly but surely evolving at the periphery.

But this is more of a demand driver than a flow catalyst.

A future upward rise, should it materialize, will require far more institutional finance than earlier cycles to accomplish comparable percentage increases, according to the synthesis: declining capital efficiency.

The amount of accessible float to absorb that capital is more constrained than ever before due to record-long-term holder concentration.

The market has probably taken a lot of surrender into consideration, as the P&L reading is at a 43-month low.

When taken independently, each data point provides unique insights.

Taken as a whole, they show how the market is structured to facilitate bottom-forming, but a key component, institutional demand on a broad scale, is still up in the air.

XRP traded near $1.13 on July 7, down 1.69% in the past 24 hours, according to crypto.news market data. 

Summary

XRP’s rebound needs a clear break above $1.14 to confirm stronger short-term momentum for bulls. ETF inflows remain positive, but CLARITY delays have removed a near-term policy catalyst for XRP. Spot CVD has improved across exchanges while Binance perpetual traders keep selling into rebounds. The token moved between $1.11 and $1.16 during the session, while trading volume stood at about $1.73 billion.

The rebound from the late-June low near $1.00 remains intact, but buyers have not yet turned it into a stronger breakout. the token pushed back toward the $1.14 to $1.18 zone, but it failed to hold the upper part of that range.

The price now sits near a short-term decision area. A close above $1.14 would show that buyers are gaining control. A clean move above $1.18 to $1.20 would give bulls a stronger signal and place the next resistance levels back in focus.

The downside level is also clear. If XRP loses $1.10, the current rebound would weaken. A move below that area could expose $1.06, which some traders now see as the next retest zone.

XRP ETF inflows help, but policy catalyst slips The recovery has come while XRP-linked investment products continue to attract demand. The latest background data showed spot XRP ETFs recorded a ninth straight week of net inflows, adding $17.19 million despite broader policy uncertainty.

Those inflows have helped support the market, but they have not been enough to break the larger downtrend. As previously reported, XRP ETFs gave investors regulated access, but they did not solve the wider legal question around XRP’s status under U.S. law.

The CLARITY Act remains the main policy catalyst for many traders. The bill missed its July 4 target and now faces an Aug. 7 deadline before the Senate’s summer break.

That delay removed a near-term trigger for digital assets. The bill has passed the House, cleared the Senate Banking Committee, and sits on the Senate calendar, but staff still need to merge Banking and Agriculture versions before a full Senate vote.

Moreover, Standard Chartered has said XRP ETFs could attract $4 billion to $8 billion in first-year inflows if CLARITY passes. That forecast depends on legal clarity unlocking larger institutional demand.

Technical setup stays mixed The XRP/USDT daily chart shows price recovering from the late-June low, but the broader trend remains weak after the June breakdown. The token is trading above the middle Bollinger Band near $1.10, which keeps the short-term rebound alive.

The upper Bollinger Band sits near $1.18. That matches the area traders are watching for a stronger breakout. Until the token closes above that zone, the move remains a rebound inside a weak structure rather than a confirmed trend shift.

XRP price chart, source: crypto.news The lower Bollinger Band sits near $1.01. That level remains important if selling pressure returns. A break below $1.10 would increase the risk of a move back toward that area.

Momentum also shows a mixed picture. The Stochastic RSI is elevated, with readings near 88.63 and 95.08. That shows strong short-term momentum, but it also places XRP close to overbought territory. Since the faster line has moved below the slower line, the rebound may be losing some force.

EGRAG Crypto said XRP must defend $1.10 after moving below the 21 EMA on the four-hour chart. He said, “Hold $1.10 = structure still alive,” while a loss of $1.06 would increase caution.

#XRP – The Retest That Matters 👀 – Short-Term ( 4H TF): #XRP is now at the real short-term test.

📒Note: We broke below the 21 EMA, and you all know the 21 EMA is my momentum gauge across timeframes.

📒Note: But the structure is not dead yet. Why? Because #XRP is now wicking… pic.twitter.com/8T7pBTbQHE

— EGRAG CRYPTO (@egragcrypto) July 6, 2026 Dark Defender took a more bullish weekly view and said XRP is “launching the Wave 5 without the Clarity Act.” Other analysts also pointed to higher long-term targets, but those views still depend on price clearing the current resistance zone first.

Spot demand rises while perps stay defensive On-chain and derivatives data show a split market. CryptoQuant analyst Amr Taha said XRP’s estimated spot CVD across centralized exchanges rose from about minus $42 million on May 12 to plus $406 million by July 7.

That change points to stronger spot buying across exchanges. It suggests market buyers have absorbed more available XRP supply over the past two months.

The derivatives market shows the opposite trend. Binance perpetual CVD fell from about minus $48 million to minus $783 million over the same period. That shows sustained sell-side pressure from perpetual traders.

Open interest also fell from about $255 million on May 22 to $203 million on July 7. That drop suggests leveraged traders have reduced exposure while spot buyers have become more active.

Binance spot data has improved, but it has not turned positive. Estimated spot CVD on Binance rose from about minus $212 million on June 25 to minus $173 million on July 7, showing that selling pressure has eased but not fully reversed.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Hyperliquid (@HyperliquidX) $HYPE has overtaken Dogecoin (@dogecoin) $DOGE to claim ninth place in the global cryptocurrency market cap rankings, marking one of the more notable ranking shifts of the current cycle.

What Is Driving the Move The rally has been underpinned by a combination of rising platform usage, competitive fees, and a mechanical buyback programme embedded directly in the protocol. Around 99% of fees from Hyperliquid's perpetuals and spot order book are routed to the Assistance Fund, which continuously purchases and burns HYPE tokens, removing them permanently from circulating supply. The result is a structural link between trading volume and token demand: the more the exchange trades, the more tokens get bought and destroyed.

That volume has been substantial. Hyperliquid has now crossed $1.1 billion in cumulative buybacks, with the protocol recording a single buyback of $283 million, described as the largest in the industry since the start of 2026. The platform has burned over 41 million tokens to date, reducing circulating supply by roughly 4.2%.

Geopolitical tension also played a role. When Middle East volatility spiked, Hyperliquid's around-the-clock trading gave it an edge over venues that observe fixed daily halt periods. TD Securities noted that the platform's oil perpetual futures volume jumped from $25 million to over $550 million across three weekends of the US-Israel-Iran conflict, as traders sought continuous price discovery when traditional markets were closed.

Where HYPE Stands Now HYPE set an all-time high of $76.87 on June 16, 2026. At the time of writing, the token sits approximately 9% below that level, having gained 13.3% over the prior seven days, according to CoinGecko data. The token has risen roughly 205% since January 2026.

Institutional interest has added further support. The Bitwise spot HYPE ETF began trading in May 2026 and spot HYPE ETF products collectively recorded $111 million in inflows as of June 30, a contrast to outflows seen in Bitcoin and Ethereum funds over the same period.

The broader narrative around the ranking change reflects a shift in what the market is rewarding. DOGE, which held a top-ten position for much of the past two years, has lacked comparable fundamental catalysts. Analysts have noted that the 2026 cycle has broadly favoured tokens with clear revenue streams over legacy meme coins.

Sources:
DeFiLlama: Hyperliquid Protocol Fees and Revenue
Crypto Briefing: Hyperliquid Records Largest Crypto Buyback at $283M Since January
Watcher.Guru: Hyperliquid Overtakes Dogecoin, Eyes New All-Time High

Etherfi submitted a TEMP CHECK proposal to the Aave governance forum on July 3 to build a dedicated, Etherfi-managed Aave V4 whitelabel instance on Optimism mainnet. The goal: replace Etherfi Cash’s existing proprietary debt manager with Aave’s battle-tested lending architecture, starting with a $175M initial asset cap and a plan to scale toward $500M by the end of 2026.

What the deal actually looks like Etherfi would operate a specialized Aave V4 hub exclusively for its credit card backend. In exchange, Aave DAO would receive 20% of all reserve-factor revenue generated by the instance. At full deployment, that revenue share translates to an estimated $5-6 million annually flowing to the Aave DAO.

The proposal also calls for deploying a dedicated GHO GSM on Optimism. This would create direct demand for GHO through real-world card spending.

Etherfi currently reports approximately 70,000 active cardholders with $1 billion in annualized spending flowing through its Visa card product.

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Why Optimism, and who’s paying for what The Optimism Foundation is committing $20M from its treasury to support the initiative, alongside additional incentive arrangements that haven’t been fully detailed in the governance discussion yet.

The deployment timeline is aggressive. Etherfi is targeting completion within July 2026, with an initial five-day feedback window for the governance community before the proposal moves to a snapshot temp check vote.

The bigger picture for Aave and DeFi lending The current total value locked in discussions around this deployment sits at approximately $220M, with the $175M initial cap designed to prove the concept before scaling.

The GHO integration deserves particular attention. Aave’s stablecoin has struggled to find demand drivers that don’t rely on incentive programs or recursive yield strategies. A credit card product that converts GHO to fiat at the point of sale creates the kind of sustainable, repeated demand that purely on-chain use cases haven’t delivered at scale.

What this means for investors For AAVE token holders, the revenue-sharing model creates a new income stream tied to real-world consumer spending rather than volatile crypto trading activity. The $5-6M annual projection at full scale might not sound massive for a protocol with Aave’s market cap, but the precedent matters more than the initial dollars.

The risk side of the equation isn’t trivial. Running a credit card backend on a smart contract protocol introduces attack surface that traditional fintech infrastructure doesn’t have. Any exploit on this instance could mean disrupted card payments for tens of thousands of users.

There’s also governance risk to consider. The proposal still needs to pass through Aave’s full governance process, and the community has historically been cautious about whitelabel deployments that could create reputational exposure. The five-day feedback window will be telling.

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

PYTH gained more than 25% over the past week, outperforming most large-cap altcoins. The Pyth Core upgrade on July 31 ends free, permissionless access to the network’s price feeds. All subscription revenue flows to the Pyth DAO, which funds monthly open-market token buybacks. Santiment ranks Pyth among the top three Solana ecosystem projects by development activity. Pyth Network’s native token has climbed more than 25% over the past seven days, trading around $0.045 with a market capitalization of $355 million, according to CoinMarketCap data. The rally comes three weeks before the Pyth Core upgrade goes live on July 31, a structural overhaul that ends the network’s free price data model and replaces it with paid subscriptions whose revenue feeds directly into PYTH buybacks. he timing invites an obvious reading – traders positioning before the deadline – though the move also coincides with a broader altcoin rotation, so the upgrade cannot claim sole credit. What the pace does show is acceleration: 12% of the gain arrived in the past 24 hours alone.

The end of free data Any developer has been able to pull Pyth’s price data free of charge since 2021, an arrangement that ends this month. According to the official Pyth Network blog, accessing any Price Feeds API after July 31 will require an active paid plan and an API key managed through the Pyth Terminal.

Pricing follows a tiered structure: the entry-level Starter Plan covers crypto prices, NAV data, redemption rates and indices, traditional asset classes sit in separate brackets, and institutions that want everything pay a flat monthly rate at the top of the scale.

Plan Coverage Monthly price Starter Crypto, NAV, redemption rates, indices $500 Individual asset classes US equities, futures or FX, per bracket $2,500 – $6,500 Full access All asset classes $10,000 The team stresses that API endpoints stay identical, so protocols built on Pyth since 2021 will not face broken integrations. The infrastructure serving those endpoints is another matter. Core feeds merge into the same scaling technology that powers Pyth Pro, which the project says reduces latency, improves price accuracy and expands symbol coverage well beyond the current catalog.

Three moving averages down, one barrier left The 4-hour PYTH/USDT chart from TradingView, based on Binance data, shows the token cutting cleanly through its 50, 100 and 200-period simple moving averages during the latest leg up. Those averages now sit clustered between $0.0361 and $0.0389, well below the current price near $0.0452. When a price trades above all three of these lines, it usually signals that short, medium and longer-term momentum have aligned in the same direction, something PYTH has not managed since its early May local top above $0.062.

The same chart carries a warning for anyone entering at current levels. The Relative Strength Index, an indicator that measures how fast and how far a price has moved, briefly pushed above 80 before settling near 72. Readings above 70 typically describe an overbought market, meaning the asset has risen quickly enough that a pause or pullback becomes more likely in the short term. The candle that tagged $0.048 on July 7 already met sellers, and the price has since retreated about 2%.

Metric Value Price $0.04512 24h change +12.01% 7d change +25.39% Market cap $355.35M 50 / 100 / 200-period SMA $0.0389 / $0.0369 / $0.0362 RSI 72 For traders watching levels, the former resistance band around $0.042, where the price stalled twice in early July, now acts as the first area of potential support. A deeper retracement would bring the moving average cluster near $0.038 back into focus. On the upside, $0.048 remains the barrier that rejected the latest push.

A buyback engine tied to real revenue Every dollar of subscription revenue flows to the Pyth DAO. From there, the Pyth Reserve spends one third of its accumulated treasury balance each month on open-market PYTH purchases, creating a direct link between commercial adoption and buying pressure on the token.

The scale of what becomes billable is not trivial. The network entered 2026 with more than 2,850 active price feeds serving over 650 onchain applications, usage that until now generated no recurring revenue. If even a fraction of those integrations convert into paying subscribers, the DAO treasury grows, and with it the monthly buyback budget.

The supply side makes the rally more notable than the percentage alone suggests. On May 19, Pyth released roughly 2.13 billion tokens from vesting, an unlock worth around $92 million that expanded the circulating supply by more than a third, according to data from Tokenomist. Cliffs of that size usually cap price action for months while the market digests the new float. PYTH instead spent seven weeks basing near its yearly lows and is now climbing into the upgrade with that overhang already behind it.

Some rough arithmetic shows what is at stake. If just 200 of those 650 integrations take the $500 Starter Plan, that is $1.2 million in annual recurring revenue reaching the DAO – modest against PYTH’s $355 million market cap, but recurring. The bull case requires institutional brackets: fifty clients on full access would mean $6 million a year, and a third of the growing treasury converting into monthly market buys. Neither scenario is confirmed, and that is precisely why the first revenue disclosure matters more than the upgrade date itself.

The upgrade also retires older parts of the network. Pyth is deprecating its original Pythnet appchain and winding down Oracle Integrity Staking emissions as data delivery migrates to the newer Pyth Lazer pipeline. Fewer emissions combined with recurring buybacks tilt the token’s supply dynamics toward scarcity, provided the subscription business actually generates meaningful revenue. That remains the open question, and the Core tier has no revenue history yet to test it against – the only disclosed figures so far come from Pyth Pro’s institutional side, which crossed $1 million in annual recurring revenue with a few dozen subscribers.

A hard deadline for builders Teams running infrastructure on Pyth face a hard deadline. Anyone using the standalone Price Pusher to manage on-chain updates must upgrade to version 10.5.0 or later and attach a Hermes access token obtained through the Pyth Terminal, otherwise automated price updates will start failing on July 31, according to the network’s developer documentation. The DAO will handle major contract switches automatically, but new integrations should fetch the updated contract addresses from the Pyth Developer Hub rather than relying on legacy references.

Development data gives the rally support that is independent of the upgrade itself. Santiment Intelligence placed Pyth third among all Solana ecosystem projects by development activity in its latest monthly ranking, behind only Chainlink and Solana itself, based on enhanced GitHub event data. Sustained developer output during a commercial pivot is not a given, and Pyth holding that position suggests the engineering side is keeping pace with the business restructuring.

Broader market rotation is working in the token’s favor too: CoinMarketCap’s Altcoin Season Index has climbed to 49, and capital moving into mid-cap tokens has lifted several oracle and infrastructure names this week. The next real test comes after July 31, when the first subscription figures will show whether the buyback program has meaningful funding behind it or whether the market front-ran a mechanism that still needs paying customers.

USD1 Goes Live Across Zebec's Full Platform@Zebec_HQ has integrated @worldlibertyfi's $USD1 stablecoin into its entire ecosystem, covering payrolls, payments, and yield. The move positions $USD1 as a core settlement asset within Zebec's financial infrastructure and extends the stablecoin's real-world utility beyond trading and DeFi.

According to CryptoNews, $USD1 is now supported natively inside the Zebec Super App, meaning teams can use the stablecoin directly within the existing platform without bridging to another network or switching tools. Users with @ZebecCards can also receive payroll spend in $USD1, and the integration provides direct access to WLFI markets from within Zebec.

Zebec has also indicated it plans to add further yield solutions later this year, signalling that the $USD1 integration is a starting point rather than a finished product.

What USD1 Brings to Zebec's InfrastructureTimes of Blockchain reports that the rollout reaches more than 65,000 workers across the US and global markets, giving staff the ability to receive, use, and move $USD1 via wallets and cards issued by Zebec. Employees can also access funds through Zebec-issued cards, linking blockchain settlement with everyday payment rails.

$USD1 is custodied by BitGo Trust Company and backed by cash and short-duration US Treasury bills held through government money market funds. Launched in March 2025, the stablecoin had grown to a circulating supply near $4.5 billion by Q1 2026, making it one of the fastest-growing fiat-backed stablecoins in the market.

For Zebec, the integration also aligns with the platform's broader institutional ambitions. Zebec completed its final ZBCN token unlock in March 2026, shifting to a deflationary revenue-funded buyback model, and has been expanding its payroll infrastructure across multiple blockchains. The addition of $USD1 reinforces its position as a multi-chain payroll and payments platform targeting enterprise-scale adoption.

Sources:
CryptoNews: World LibertyFi's USD1 Is Now Live In The Zebec Super App
Times of Blockchain: Zebec Expands USD1 Daily Payroll to 65K+ Global Workers
Eco: USD1 Stablecoin by World Liberty Financial

Michael Saylor, the man who turned a mid-tier software company into the world’s largest corporate Bitcoin piggy bank, is doing something he swore he’d never do: selling Bitcoin.

But before anyone panics, here’s the thing. Strategy, formerly MicroStrategy, plans to sell roughly 0.2% of its Bitcoin holdings per month while simultaneously buying back five to ten times that amount.

The tactical sell that isn’t really a sell During Strategy’s Q1 2026 earnings call on May 5, Saylor laid out the new playbook. The company, which held over 818,000 BTC at the time of the call, would begin modest monthly sales to generate cash for dividends on its STRC perpetual preferred stock.

“Even if we were to sell one Bitcoin, we’d be buying 10 to 20 more Bitcoin.”

Between May 26 and May 31, Strategy executed its first Bitcoin sale since 2022, offloading exactly 32 BTC for approximately $2.5 million at an average price of roughly $77,135 per coin. That 32 BTC represents about 0.004% of the company’s total holdings.

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By early June 2026, Strategy’s Bitcoin stash had grown to over 843,000 BTC, with later filings confirming 846,842 BTC. The company’s average cost basis sits between $75,000 and $75,700 per coin, reflecting years of aggressive accumulation dating back to 2020 when Saylor first pivoted the company’s treasury strategy toward Bitcoin.

Why sell at all? The short answer: preferred stock dividends need to be paid in dollars, not satoshis. Strategy has been raising capital through various instruments, including its STRC perpetual preferred stock, which come with cash dividend obligations requiring actual fiat currency.

Rather than focusing purely on total Bitcoin held, Saylor wants investors to evaluate how much Bitcoin each share of Strategy stock represents. If the company sells 0.2% of its Bitcoin monthly but buys back five to ten times that amount through capital-raising efforts, the Bitcoin-per-share ratio actually increases over time.

Saylor emphasized during the earnings call that Strategy plans to be a “net buyer of Bitcoin in every month and every quarter going on forever.”

What this means for investors For Bitcoin market participants, the immediate impact of Strategy’s sales is negligible. Thirty-two BTC in a market that trades billions of dollars daily is a rounding error.

Strategy isn’t reducing its position. The company added over 25,000 BTC between the May 5 earnings call and early June, pushing from 818,000 to over 843,000 BTC.

For Strategy stockholders specifically, the Bitcoin-per-share metric that Saylor keeps highlighting deserves close attention. If the company can consistently grow that number, the stock functions as a leveraged Bitcoin proxy with yield.

Strategy’s average cost basis of roughly $75,000 per BTC means the company is currently sitting on unrealized gains, but a sustained Bitcoin downturn could turn those modest monthly sales into more significant liquidations if dividend obligations remain fixed while Bitcoin’s price drops. Strategy has one asset, one thesis, and 846,842 BTC — a position worth well over $60B at current prices.

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

Ethereum [ETH] has rallied 11.7% over the past week, but it is possible that short-term holders were preparing to exit the market.

Source: Glassnode The exchange net position change had been negative since mid-May, but posted a positive bar on its histogram on Sunday, July 5.

Negative net position change implies a net outflow of assets from exchange-affiliated addresses. A shift toward positive indicates that net inflows were greater in volume.

This inflow can be interpreted as readiness for selling from holders, though it need not provide an immediate bearish price reaction.

Recently, AMBCrypto pointed to a discrepancy between trader and developer activity. Alongside the monthly TD Sequential buy signal, bulls had hopes of a move toward $2,000.

That optimism faded as Bitcoin [BTC] faced rejection from the $63k area, unable to assail the $64k local supply zone in earnest. This rejection has caused an Ethereum price slide below $1,800.

Ethereum bullish hopes misplaced? Source: CryptoQuant Crypto analyst Darkfost drew attention to the severe decline in Open Interest. From a record high of $33.9 billion in October 2025, to just $11.2 billion, the corrective leg of the cycle has shaken market conviction.

Examining the liquidation volume bubble map showed a high volume of long liquidations towards the end of June, rivaling the size of the October long liquidations.

Source: CryptoQuant The Coinbase Premium Index has been negative since late April, another sign of bearish market sentiment. U.S.-based investors have not been taken in by the recent price bounce toward $1.8k.

The large volume of short liquidations showed that many traders had been positioned for further downside before the recent rally forced them to exit. A small corrective bounce amid a wider downtrend has caused $314.5 million in short liquidations so far in July.

Source: Glassnode The Ethereum holder accumulation ratio tracks the proportion of active users who are increasing their holdings, compared to those who are decreasing. Lower ratios indicate bearish momentum, and tend to mark periods of distribution and profit-taking.

The drop in the holder accumulation ratio since May suggested the current distribution has not ended.

Final Summary Ethereum was up by 11% over the past week of trading, triggering over $300 million in liquidations within a week. Other onchain metrics showed that the current distribution trends were likely to cause a deeper ETH price slide.

Cardano has reached one of the final technical checkpoints before the Chang hard fork, with node version 9.0.0 now released by IntersectMBO.

For more details, visit the official GitHub platform.

TL;DR Cardano node 9.0.0 has been released on GitHub.The upgrade is tied to the final preparation stage for the Chang hard fork.Chang is expected to move Cardano closer to on-chain governance. For ADA holders, this is not just a routine software update. Node releases are how Cardano’s governance roadmap becomes operational. The Chang hard fork has long been framed as the step that brings more formal decentralized governance into the network’s live structure.

Why Node 9.0.0 Matters Blockchains do not upgrade because a roadmap says they should. They upgrade when node operators, stake pool operators, exchanges, and infrastructure providers actually move to compatible software. That is why a major node release is worth watching.

Node 9.0.0 supports the technical path toward bootstrap governance thresholds. In plain English, it helps prepare the network for the governance machinery that Chang is supposed to activate. The more operators adopt the release, the closer the network gets to the conditions needed for the hard fork.

Governance Becomes The Test Cardano has always leaned heavily into research, process, and formal governance. Critics argue that this can make the ecosystem slow. Supporters argue that it is exactly what gives the chain durability. Chang will test that thesis in public.

The market response may still depend on broader ADA sentiment, but the development signal is straightforward: Cardano’s next major governance upgrade is moving from planning into execution.

This report is based on the Cardano node 9.0.0 release on GitHub.

This article was written by the News Desk and edited by Samuel Rae.

Tether, the company behind USDT, is preparing to issue the stablecoin natively on Bitcoin through the RGB protocol version v0.11.1. Deployed by the UTEXO software lab, USDT is set to return to the chain where it first launched in 2014 via the Omni-Mastercoin Layer. 

UTEXO, the company leading the commercial rollout, has positioned itself as the issuer and distributor of this Bitcoin-native USDT in partnership with Tether.  “Finally, after eight years of development—if not more—we are the company that is launching USDT over Bitcoin with strong support from Tether,” said Viktor Ihnatiuk, UTEXO co-founder, in an exclusive interview with Bitcoin Magazine. 

The RGB protocol combines its novel client-side validation with the Lightning network for instant, private settlements, while anchoring security to Bitcoin’s UTXO model. Users can expect to be able to handle USDT on native Bitcoin addresses as well as send and receive it over the Lightning network with compatible wallets. 

The RGB protocol on Bitcoin also offers significant privacy features to USDT users as the asset benefits from Bitcoin’s UTXO model, which standardizes fresh addresses for every transaction compared to the account-based address reused commonly in EVM blockchains like Tron, Ethereum or Solana. Address reuse is the first mistake of onchain privacy, yet most altcoins built their interfaces to reuse addresses, despite the risk it poses to users. RGB’s integration with the Lightning network further protects user privacy by moving USDT via the offchain payments network, which leaves few marks on the public blockchain. The deep integration with Tether also means that there are fewer middleman companies charging extra fees or collecting data. 

On the topic, Vktor emphasized that, “We built Utexo so that USDT could move on Bitcoin the way money is supposed to move: instantly, privately, with no surprises on costs. Our partners integrate our API once and can route USDT on the most resilient open network ever built, with full control over cost structure.”

UTEXO vs TRON UTEXO emerged from a joint venture involving Viktor’s Boosty Venture Studio, Fulgur Ventures, and Tether Investments. The goal was straightforward: bring RGB to mainnet after years of delays under prior development teams. The protocol had been in active development since at least 2016, but failed to be ready for the 2017 bull market, giving the TRON blockchain dominance over USDT volume and usage throughout the developing world, a dominance which it still retains. 

UTEXO of specifically building “the last mile” of software needed for wide USDT deployment across the Bitcoin ecosystem, which includes a software development kit, APIs, mid-level protocols, UI design work and even a mint bridge that is live today at mint.utexo.com. This bridge lets users move USDT across popular blockchains with “deterministic low fees” and no middlemen thanks to its direct integration with Tether as the primary mint. The RGB protocol layer was developed by Bitfinex R&D Strategist Federico Tenga.

“Right now if you want to swap USDT to Bitcoin you need to pay high fees for all these wallets who charge you a one percent wallet fee plus a swap provider charge of one percent plus, and you have slippage one percent as well, so you pay three percent, and also you wait forever until the swap happens” Viktor told Bitcoin Magazine, adding that; “with USDT and Bitcoin over Lightning, for the first time you have two main assets on one chain, you can swap instantly without any slippage. You can swap decentralized USDT to Bitcoin and back on-chain. The price is almost the same as spot markets in Binance.”

Networks like Tron that are primarily used to move USDT also add extra fees, swap commissions and friction to the user experience. They require a different address type, with fees paid in an asset like TRX, which is only ever used to move the stablecoin. With most of the monetary volume in the crypto market concentrated in Bitcoin and Tether, having to buy an altcoin just to pay fees ends up feeling like red tape. 

Bitcoin, as the payment rails of USDT, also comes with blockchain levels of security that other chains simply can not offer. While USDT will always be fundamentally centralized in Tether as a corporation, the rails can also add risk, for example, if a contentious fork occurs or major bugs are found on novel blockchain systems. Bitcoin, being the oldest and most conservative blockchain, delivers a quality assurance of sorts that can not be matched by other chains. 

RGB traces its roots to Peter Todd’s single-use seals back in 2014 and was formalized in 2016 by Giacomo Zucco and Riccardo Casatta. The RGB acronym, originally derived from “Riccardo Giacomo Bitcoin,” was later rebranded “Really Good Bitcoin”. Tether explored the protocol early but faced delays with the previous team. Had RGB shipped on schedule around 2019, the stablecoin landscape and broader DeFi industry might have developed differently around Bitcoin’s UTXO model instead of Ethereum’s account-based system.

As such, bringing USDT back to Bitcoin is a core motivation for UTEXO. Viktor minced no words on the matter: “For the first time in eight years or nine years, USDT is coming back home. We have no chance to fail. If we fail, no one will think about Bitcoin as a settlement layer anymore.”

USDT on Bitcoin via RGB is expected to be launched within weeks, possibly this July, with wallets like Tether Wallet among others announcing support, and exchanges across the world announcing integrations.

Former Tether chief investment officer Richard Heathcote is seeking to sell part of his 1.26% stake in the stablecoin issuer, according to a Bloomberg report citing people familiar with the matter.

Heathcote stepped down as Tether's chief investment officer in March to take an advisory role after overseeing the stablecoin issuer's investment portfolio. Bloomberg reported the planned sale involves only part of his 1.26% ownership stake.

Tether issues USDt (USDT), the world's largest stablecoin by market capitalization. With a circulating supply of roughly $184 billion, USDT accounts for roughly 59% of the stablecoin market, according to DefiLlama data.

The planned sale could offer a rare look at ownership in Tether, which remains privately held despite becoming one of the crypto industry's most profitable companies.

The sale also comes as Tether navigates regulatory pressure in Europe. USDT has been delisted by a growing number of MiCA-authorized platforms after Tether opted not to comply with the European Union's crypto framework, with Revolut announcing this month that it will remove the stablecoin from its platform.

Crypto companies weigh IPOs While Tether CEO Paolo Ardoino has said outright that the stablecoin issuer does not need to go public, several other crypto companies are reportedly mulling initial public offerings (IPOs).

Kraken has taken several steps toward a public listing. Fortune reported in September 2025 that the crypto exchange had raised $500 million at a $15 billion valuation, fueling expectations that the exchange was preparing for an IPO.

Source: Paolo Ardoino

The company also announced it had confidentially filed a draft registration statement with the US Securities and Exchange Commission for a proposed initial public offering in November 2025. However, Bloomberg later reported that the IPO plans could be pushed back until 2027 following layoffs tied to the company's expanding use of artificial intelligence.

South Korean crypto exchange Bithumb also announced in April that it is delaying its IPO until after 2028 as it works to strengthen its accounting policies and internal controls following earlier regulatory setbacks.

Magazine: The end of anonymity? AI could unmask crypto’s hidden identities

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.

Jul 6, 2026, 4:00 p.m.

1 min read

Visa stablecoin data shows fiat-pegged token monthly activity increased to a record $1.79 trillion in June. ((Media/Visa)Summary

Circle’s USDC accounted for about 70 percent of adjusted stablecoin transaction volume in the first half of 2026, widening its lead over Tether’s USDT, which held roughly 25 percent.Adjusted stablecoin transaction volume hit a record $1.79 trillion in June 2026, up 63 percent from May and 125 percent from June 2025, contributing to $8.82 trillion in volume for the first six months of the year.Growing adoption of stablecoins by banks and financial institutions, including new USDC services from Standard Chartered and BNY, reflects a broader shift toward established fiat-pegged digital asset networks.Circle’s USDC stablecoin widened its lead over competitor Tether’s USDT by transaction volume during the first half of 2026, according to fresh data from Visa’s onchain dashboard.

In June alone, stablecoin activity increased to a record $1.79 trillion in adjusted transaction volume, up 63% from May's $1.1 trillion and 125% from about $795 billion in June 2025. Visa removes bot activity, exchange transfers and other blockchain transactions that do not reflect real economic activity before calculating adjusted volume.

These figures come as banks and other financial institutions expand their use of stablecoins for payments, settlement and treasury operations. Standard Chartered and BNY recently added services around Circles’s USDC rather than building their own infrastructure which also reflects a broader shift toward using established stablecoin networks as activity and demand for fiat-pegged digital assets increases.

The first six months of the year totaled $8.82 trillion in adjusted stablecoin transaction volume. That is more than the $5.8 trillion recorded during all of 2024 and $2 trillion less than the record $10.8 trillion reported in 2025.

USDC accounted for about 70% of adjusted transaction volume during the first half of 2026. USDT represented roughly 25%..

In 2020, USDT made up nearly 90% of adjusted transaction volume. USDC accounted for less than 10%. By 2022, USDC accounted for about 45% of adjusted transaction volume.

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Building the Zcash Machine: Tachyon and Quantum Readiness

Building the Zcash Machine: Tachyon and Quantum Readiness

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Jun 30, 2026

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Why it matters:

Zcash’s Tachyon upgrade aims to scale shielded payments, improve quantum readiness, and test whether its funding, security, and governance can hold.

Paxos says the SEC has ended its investigation into BUSD without recommending an enforcement action, giving the stablecoin sector a rare piece of regulatory relief in the United States.

For more details, visit the official Paxos platform.

TL;DR Paxos says the SEC will not recommend enforcement in its BUSD investigation.The decision removes a major legal question around one of the market’s former top stablecoins.The closure comes as stablecoin regulation is becoming more formal in the U.S. and Europe. The BUSD case mattered because it sat at the intersection of stablecoin issuance, exchange branding, and U.S. securities law. If regulators had pushed a broad enforcement theory, it could have complicated the entire stablecoin market.

A Cleaner Outcome For Paxos Paxos framed the closure as confirmation that its dollar-backed stablecoin activity should not have been treated as a securities violation. That does not create a universal safe harbour for every issuer, but it does weaken the idea that regulated fiat-backed stablecoins automatically belong in the same bucket as speculative tokens.

The decision also lands at a moment when stablecoins are being pulled into clearer legal frameworks. Europe is already enforcing MiCA rules. U.S. lawmakers continue to debate stablecoin legislation. Issuers want clarity, but they also want to avoid regulation through enforcement.

What It Means For The Market BUSD itself is no longer the giant it was during Binance’s peak stablecoin push. The bigger point is precedent and tone. A closed investigation tells the market where the SEC chose not to go, and that can be almost as important as where it chooses to act.

For stablecoin issuers, the message is not that risk has disappeared. Reserve structure, disclosures, redemption rights, and distribution partners still matter. But Paxos now has one of the cleaner outcomes the sector could have hoped for: a formal end to a high-profile probe without an enforcement recommendation.

This article is based on information from Paxos.

This article was written by the News Desk and edited by Samuel Rae.

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

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

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

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

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

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

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

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

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

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

That approval was the key moment.

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

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

That appears to be what happened here.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Solana price has held above key technical support even after slipping 1.7%, while U.S.-listed spot Solana ETFs have continued attracting fresh inflows as Bitcoin and Ethereum funds recorded weekly withdrawals.

Summary

Solana held above key support as $5.75 million in spot ETF inflows contrasted with Bitcoin and Ethereum fund outflows. Solana ranked second in weekly spot trading volume, while non-vote transactions topped 1 billion for the first time. Rising active users, strong DApp revenue, and bullish technical indicators continue to support Solana’s recovery. After climbing more than 15% last week, Solana (SOL) price met selling pressure near the $80 level, where traders again defended resistance amid the broader market pullback. Even after the recent recovery, the token remains about 73% below its all-time high of $294.33 reached on Jan. 19, 2025.

Meanwhile, Bitcoin fell 1.65% during the same period, dragging the total cryptocurrency market capitalization down 1.47% to $2.14 trillion.

ETF demand has stayed positive despite market weakness Fund flow data showed Solana diverging from the two largest cryptocurrencies during the latest reporting period. Spot Bitcoin ETFs recorded net outflows of $527 million between June 29 and July 2, extending their losing streak to eight consecutive weeks. Spot Ethereum ETFs also registered net outflows totaling $13.67 million.

By contrast, U.S.-listed spot Solana ETFs attracted $5.75 million in net inflows over the same period. The inflows indicated that investors continued adding exposure despite weakness across the wider digital asset market.

Capital also moved into several other altcoin investment products. XRP ETFs recorded $17.19 million in net inflows, while HYPE ETFs added another $4.32 million during the week.

Away from fund flows, on-chain activity continued to strengthen. According to SolanaFloor, Solana ranked second in global spot crypto trading volume for the second consecutive week, processing $12.25 billion across centralized and decentralized exchanges. That total remained ahead of Bybit’s $10.57 billion, although Binance retained the top position among exchanges during the reporting period.

SolanaFloor also reported that weekly non-vote transactions surpassed one billion for the first time. Unlike validator voting activity, non-vote transactions represent actual network usage generated by users, decentralized applications, and traders. The sharp rise at the beginning of July points to heavier activity across the ecosystem.

Technical structure still favors buyers above key support Network participation has accelerated alongside the recovery. According to Artemis data, Solana’s weekly active addresses climbed from 16.8 million to 29.7 million in just two weeks, an increase of roughly 12.9 million wallets, or about 76.8%. The rebound followed slower activity during June as users returned to decentralized applications across the network.

Source: Artemis Separate ecosystem rankings also kept Solana at the top of several blockchain activity metrics. The network led all Layer 1 and Layer 2 chains in both 24-hour and seven-day decentralized application revenue while also recording the highest decentralized exchange trading volume over those periods. Polygon, Ethereum, Base, BNB Chain and Hyperliquid followed behind across the tracked categories.

Price action continues to support the improving network data. On the daily chart, Solana remains above its 20-day, 50-day and 100-day moving averages, while the MACD indicator is still in bullish territory despite momentum easing after last week’s rally.

Solana daily price chart — July 6 | Source: crypto.news On the 4-hour chart, the Supertrend indicator continues to hold below price near $78.30, and Chaikin Money Flow has stayed slightly above zero, indicating modest buying pressure.

Solana price 4-hour chart — July 6 | Source: crypto.news The latest consolidation has left immediate resistance around the recent high near $84, while the Supertrend level near $78 and the Fibonacci support around $76 remain the first areas buyers may need to defend if selling pressure returns. Together with steady ETF inflows and rising network activity, those technical levels suggest Solana’s recovery remains intact unless those support zones give way.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

BonkDAO, the decentralized autonomous organization tied to the Solana-based memecoin BONK, said Monday it was the target of a malicious governance proposal that drained an estimated $20 million worth of BONK tokens from its treasury, according to a post on its official X account. The DAO said the…

BonkDAO, the decentralized autonomous organization tied to the Solana-based memecoin BONK, said Monday it was the target of a malicious governance proposal that drained an estimated $20 million worth of BONK tokens from its treasury, according to a post on its official X account.

The DAO said the attack routed through a governance vote rather than a smart-contract bug, a vector that has hit other protocols this year, including a June governance takeover at Balancer-linked TOP token pools that drained $1.58 million.

BonkDAO said it has already identified the exchange wallets used to buy BONK ahead of the proposal being submitted, a pattern suggesting the attacker positioned tokens before pushing the malicious vote through. The DAO is "actively working with exchanges, bridges and Solana Foundation to best manage the situation," per its statement.

Law Enforcement NotifiedBonkDAO said law enforcement has been notified and that it continues working with "relevant parties to recover funds and identify those responsible," according to the same post. The DAO did not name a suspect or disclose the specific governance mechanism exploited to pass the proposal.

The disclosure came directly from BonkDAO's verified X account, with no on-chain transaction hash, security-firm tracing report, or third-party confirmation yet available. BONK is among the largest Solana memecoins by market capitalization, and a governance-level treasury drain of this size marks one of the larger DAO exploits reported this year via the proposal-attack vector rather than a code vulnerability.

Germany’s seized Bitcoin stash is back at the centre of the market conversation after wallets linked to the country’s Federal Criminal Police Office moved another large tranche of BTC toward major exchanges.

For more details, visit the official Arkham platform.

TL;DR Arkham-tracked wallets tied to Germany’s BKA have continued sending Bitcoin to exchanges.The flows are being watched closely because exchange deposits can signal potential selling pressure.The story is less about one transfer and more about how much supply the market can absorb. The important detail is where the coins are going. Transfers to Coinbase, Kraken, Bitstamp, and other exchange-linked destinations are not the same as cold-storage reshuffling. They usually make traders ask whether more supply is about to hit the order books.

A Government Wallet Becomes A Market Signal State-held Bitcoin does not move like ordinary whale supply. The wallets are visible, the balances are large, and the market tends to react before anyone can say with certainty whether coins have actually been sold. That is why the German wallet has become one of the most watched addresses in crypto this week.

The selling risk comes at an awkward time for Bitcoin. Spot ETF demand has been choppy, macro traders are still watching rate-cut expectations, and older supply events such as Mt. Gox repayments are also sitting in the background. Put together, the market is dealing with a cleaner version of an old problem: even bullish structure can wobble when too much BTC appears to be heading toward exchanges at once.

What Traders Should Watch The next question is whether these transfers become actual sell orders, and whether buyers are deep enough to absorb them without a sharper move lower. Exchange inflows alone do not prove a sale has happened, but they do tighten the window between potential supply and market impact.

For now, the BKA-linked wallet is not just an on-chain curiosity. It is a live supply story, and Bitcoin traders will keep watching every move until the exchange flows slow down or the market proves it can take the pressure.

This report is based on wallet data from Arkham Intelligence.

This article was written by the News Desk and edited by Samuel Rae.

Sui has crossed the $1 billion total value locked mark on DeFiLlama, giving the Move-based network a clearer claim to serious DeFi liquidity.

For more details, visit the official DeFiLlama platform.

TL;DR Sui’s DeFi TVL has moved above $1 billion, according to DeFiLlama data.Lending and native DeFi protocols are helping drive capital onto the chain.The milestone strengthens Sui’s pitch as a high-performance smart contract network. TVL is an imperfect metric, but it remains one of the easiest ways to see where capital is willing to take smart contract risk. For Sui, crossing $1 billion is a meaningful marker because it moves the chain further away from early-stage experimentation and closer to the conversation around durable DeFi ecosystems.

Liquidity Is The Real Test Fast blockchains are common. Sustainable liquidity is rarer. Users can rotate through incentive programs quickly, especially when yield campaigns are generous. The question for Sui is whether capital stays after the first wave of rewards and novelty fades.

The current growth points to rising activity in lending, trading, and native protocols. That matters because a chain needs more than one flagship app to feel alive. The healthier version of Sui’s growth story is not just that TVL crossed a number, but that more capital is being deployed across several functions.

What Comes After The Milestone The next test is depth. Sui needs liquidity that supports real usage, not just headline TVL. Stablecoin availability, reliable lending markets, strong bridges, and developer retention will decide whether this becomes a lasting DeFi base.

For now, the $1 billion level gives Sui a stronger seat at the table. Move-based chains have been fighting for attention against Ethereum L2s, Solana, and other high-throughput networks. Sui now has a clearer data point to show that capital is paying attention.

This report is based on DeFiLlama data for Sui.

This article was written by the News Desk and edited by Samuel Rae.

Alex Van de Sande, a co-founder of the Ethereum Name Service (ENS), proposed Monday that the ENS DAO delegate 5 million ENS tokens from its dormant community treasury to individual participants.

Alex Van de Sande, a co-founder of the Ethereum Name Service (ENS), proposed Monday that the ENS DAO delegate 5 million ENS tokens from its dormant community treasury to individual participants, a step he said would end the DAO's reliance on what he called “just a 1-of-1 multisig.”

“Currently, one delegate has enough quorum to not only execute any proposal, but also to outvote the next 50 other delegates,” Van de Sande said in the proposal, in an apparent reference to ENS co-founder Nick Johnson.

Van de Sande filed the idea as a formal draft, "Reform DAO governance by delegating 5M ENS tokens," in the Meta-Governance section of the ENS DAO's discourse forum. In a post on X, he said participants would not own or be able to sell the delegated tokens, which belong to the DAO, and floated adding another 5 million tokens next year, an undelegation trigger after six months of inactivity, and a full sunset of the arrangement after two years.

Van de Sande said the proposal draws on unclaimed supply from ENS's original airdrop five years ago, which set aside half its tokens as a "community treasury" to be distributed over five years. That window has now lapsed with little of the allocation distributed, he said.

Part of a Wider FightThe proposal follows weeks of conflict over control of ENS DAO's treasury and governance. On June 19, ENS Labs COO Katherine Wu published a temp-check proposal to shift the DAO's operational wallet, ENS holdings and Karpatkey-managed Endowment to a five-seat ENS Foundation board, as The Defiant reported.

Three days later, Johnson said he would self-delegate his ENS to back the measure, a move delegates said gave him effective control of the outcome. Rotki founder Lefteris Karapetsas wrote on the forum that Johnson had "delegated ~50% of the voting supply to himself, essentially becoming the DAO," and Security Council member Brantly Millegan called the proposal "the equivalent of treasury capture by ENS Labs," The Defiant reported.

The dispute widened in late June when Johnson, using that same delegated voting power, blocked an onchain vote to renew the DAO's Security Council, a multisig empowered to cancel malicious proposals already in the timelock queue. Johnson controls an estimated 3.26 million ENS tokens, roughly half of all ENS currently delegated to any address. Christoph Jentzsch, who wrote code for the original 2016 "The DAO," responded by proposing on X that ENS DAO dissolve itself outright, calling the DAO "broken," The Defiant reported.

Both the Foundation temp check and the Security Council renewal remain unresolved. Van de Sande's plan would not change that dispute directly — it draws on a separate, dormant pool of DAO-held tokens — but it lands amid an active debate over whether ENS's governance concentrates too much power in one delegate.

Key Takeaways Approximately 1 million purchasers of the TRUMP memecoin — representing two-thirds of all participants — experienced collective losses of $3.81 billion by June’s conclusion The former president collected more than $630 million from the cryptocurrency token despite its 97% decline from all-time highs Early, well-informed investors secured $4 billion in gains before the market collapse World Liberty Financial token participants also faced significant setbacks, with 85% of monitored wallets recording $83 million in combined losses Despite SEC’s 2025 decision to cease memecoin oversight, civil litigation remains a possibility according to legal scholars The self-branded cryptocurrency was introduced just seventy-two hours ahead of Trump’s January 2025 inauguration ceremony. After reaching a high exceeding $73 per token, the price has plummeted to approximately $1.70 — representing a decline surpassing 97%.

Trump Price Blockchain analytics provider Nansen reports that 988,905 digital wallets — approximately 66% of all participants — experienced financial losses on the cryptocurrency. The aggregate damage amounts to $3.81 billion through late June 2026.

Trump’s official financial disclosure document, published in June’s final week, revealed earnings exceeding $630 million specifically from the TRUMP cryptocurrency. His overall cryptocurrency-related income for the previous year surpassed $1.4 billion.

2/3 of retail investors lost money on the $TRUMP memecoin…

According to the New York Times, close to 1 million people lost a combined $3.81 billion on Trump's memecoin, which launched in early 2025.

The meme is still worth more than $400M but is well down from all-time highs… pic.twitter.com/Nx8P07r9uJ

— BSCN (@BSCNews) July 6, 2026

Nansen characterized the situation as one where “a limited group of initial purchasers secured massive profits while the widespread retail participant base shouldered the financial burden.” Approximately 500,000 early and knowledgeable investors collected a total of $4 billion in earnings.

The token’s design enabled Trump to generate revenue through transaction fees independent of price fluctuations. Following the launch, Trump actively promoted the cryptocurrency through multiple posts on his Truth Social platform.

Nicholas Pinto, who supported Trump in the 2024 election and lost approximately half of his $500,000 stake, shared with the New York Times: “It is almost a legal scam.”

The White House rejected this assessment. Press representative Anna Kelly stated that Trump “proudly made the United States the crypto capital of the world” and emphasized that all decisions were executed “in the best interest of the American people.”

World Liberty Financial Participants Experience Similar Outcomes Nansen’s analysis extended to World Liberty Financial, a cryptocurrency enterprise associated with Trump and his three sons. The platform offers a token designated as WLFI, initially priced at 1.5 cents before increasing to 5 cents.

Among nearly 27,000 monitored wallets, 85% registered losses accumulating to $83 million. The remaining participants gained a combined total of $23 million.

The cryptocurrency has depreciated 82% since becoming accessible on secondary trading platforms in September. A representative for World Liberty attributed the decline to wider market downturns.

Trump’s financial disclosure indicated earnings just below $800 million from the World Liberty Financial venture. A Trump-affiliated entity receives 75% of all WLFI token sales irrespective of market valuation.

Potential Legal Consequences Remain Uncertain The Securities and Exchange Commission declared in February 2025 its intention to discontinue memecoin transaction investigations, potentially restricting immediate regulatory intervention concerning Trump.

The TRUMP memecoin platform featured a disclaimer characterizing the token as an “expression of support” rather than an investment vehicle.

Nevertheless, Stephen Gillers, who teaches legal ethics at NYU, indicated that such disclaimers might not prevent future civil litigation from investors who sustained financial losses.

During a CNBC interview addressing potential conflicts of interest, Trump maintained there was “nothing illegal” and “nothing wrong” regarding his cryptocurrency earnings, stating that others managed his investment activities.