Marex Group umožnil klientům použít USDC, regulovaný stablecoin vydaný společností Circle, jako počáteční marži pro clearing amerických derivátových obchodů. Oznámení přišlo 16. července. První transakci provedla Prime Trading, LLC, chicagská proprietární obchodní firma, která vložila USDC jako marži; Marex jej poté převedl na hotovost, aby usnadnil její obchodní pozice, přes Coinbase Prime.
For decades, posting margin for derivatives trades meant wiring dollars through a system that still operates on banker’s hours. Marex Group, a publicly traded clearing firm on NASDAQ under the ticker MRX, just made that process look a little antiquated.
On July 16, Marex announced that clients can now use USDC, the regulated stablecoin issued by Circle, as initial margin collateral for US derivatives clearing. The integration runs through Coinbase Prime, which handles custody, instant fiat-to-USDC conversion, and the reporting infrastructure that keeps the whole thing compliant. The inaugural transaction was executed by Prime Trading, LLC, a Chicago-based proprietary trading firm that posted USDC as margin, which Marex then converted to cash to facilitate its trading positions.
How it actually works The Marex and Coinbase setup replaces a chunk of that friction with blockchain rails. USDC moves 24/7 at internet speed, meaning collateral can be posted, adjusted, or withdrawn at any hour, not just during US banking windows.
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In practice, a client holds USDC in a Coinbase Prime account. When margin is needed, the stablecoin is transferred into a segregated, CFTC-compliant environment that Marex manages for clearing operations. Coinbase provides bespoke reporting aligned with Marex’s clearing requirements, essentially acting as the bridge between the crypto-native asset and the regulatory framework that governs futures markets.
The regulatory green light In December 2025, the Commodity Futures Trading Commission issued a no-action letter that effectively permitted the use of stablecoins as margin collateral in derivatives clearing. That letter didn’t change the law, but it told clearing firms and their regulators: go ahead, we won’t pursue enforcement action if you do this within the right guardrails.
The fact that USDC was the stablecoin of choice matters too. It’s fully reserved, meaning every token is backed by cash and short-duration US Treasuries held in segregated accounts. That reserve structure is what makes it palatable to regulators and clearinghouses that need to know the collateral is actually worth what it claims to be.
What this means for institutional markets The most immediate benefit is operational. Firms that trade across time zones or in products linked to 24/7 markets can now manage margin without waiting for a wire to settle.
For Coinbase, the partnership extends its institutional infrastructure play beyond pure crypto trading. Acting as the custody and conversion layer for a regulated derivatives clearing workflow positions Coinbase as a bridge between digital assets and traditional financial market infrastructure.
The risk to watch is regulatory durability. No-action letters can be rescinded, and if a stablecoin used as margin were to depeg during a volatile session, the ensuing mess would give regulators plenty of reason to reconsider.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Coinbase uvedla, že růst USDC a bankovních vkladů jde současně, ne proti sobě. Za šest měsíců USDC vzrostl asi o 4,6–5 % a vklady v americkém bankovním systému zhruba o 4,5–5 %.
Banks have spent the better part of two years warning that stablecoins would siphon money out of the traditional financial system. Coinbase’s chief policy officer has a different take: the numbers don’t support that story.
Faryar Shirzad pointed to a six-month window in which USDC supply grew by approximately 4.6-5% while total demand deposits in the US banking system climbed by roughly 4.5-5%. Both went up. Neither ate the other’s lunch.
The data behind the argument USDC’s circulating supply has reached approximately $75 billion, making it the second-largest stablecoin by market cap.
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A July 2025 study from Charles River Associates, commissioned by Coinbase, examined whether USDC adoption had measurably harmed community bank deposits. The conclusion: no statistically significant negative effects. Community banks, the institutions most often cited as vulnerable to stablecoin competition, appear to be doing just fine.
Shirzad followed up with a blog post in September 2025 that directly rejected what he called the “deposit erosion myth” propagated by banking industry lobbyists.
Why banks keep pushing the narrative anyway Coinbase has obvious incentives here too. The company earns a revenue share of 100% from USDC held on its platform and 50% from other sources. USDC powers around 90% of Coinbase’s spot trading in USD/USDC pairs.
Coinbase’s broader USDC strategy The company’s USDC yield program has historically offered returns up to 5%. Coinbase has also been building out direct deposit functionality, letting users receive paychecks in USDC.
Coinbase is also partnering with other firms to expand stablecoin use in payments, pushing USDC closer to becoming a practical medium of exchange rather than just a trading intermediary.
What this means for investors For Coinbase shareholders, the USDC economics are worth watching closely. When the company earns a full revenue share on platform-held USDC and half on off-platform holdings, every billion dollars of USDC growth translates directly to the income statement. At $75 billion in circulation, the economics are already substantial.
Tether’s USDT still dominates the global stablecoin market, but USDC has been gaining ground in regulated markets, particularly in the US and Europe.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Hedera se integrovala s platformou Utila, čímž rozšiřuje bezpečný institucionální přístup k HBAR a tokenům HTS. Partnerství posiluje její enterprise zázemí a compliance infrastrukturu.
Enterprise blockchain adoption doesn’t get limelight overnight, but Hedera today added another piece to a much bigger puzzle. The network has integrated with Utila, which is known as an institutional grade digital asset custody and wallet infra provider.
By joining hands they are expanding secure access to HBAR and Hedera Token Service (HTS) tokens for enterprises operating at scale.
The partnership arrives as Hedera continues building its presence across regulated financial markets, where security, compliance, and operational control often matter more than hype.
Utila Brings Institutional-Grade InfrastructureUtila enters the collaboration with solid credentials. The platform has secured $51.5 million in funding and processes more than $200 billion in transaction volume, offering Multi-Party Computation (MPC) wallets, customizable policy controls, and enterprise-focused APIs.
For organizations managing HBAR and HTS tokens, the integration introduces compliance-focused custody infrastructure. Which is designed to simplify digital asset operations without compromising security. That lowers the entry barrier for financial institutions seeking blockchain exposure within regulated environments.
Project Acacia Expands Hedera’s ReachThe integration extends beyond custody services. Utila is serving as a key infrastructure provider for project Acacia, the Reserve Bank of Australia’s digital money pilot, alongside Hashgraph and Hashsphere. The initiative operates on a private network powered by Loading profile preview technology, placing the blockchain within a high-profile state-backed financial experiment.
That role reinforces Hedera’s growing reputation as infrastructure capable of supporting enterprise and government-level blockchain deployments.
Network Activity Continues To ScaleMoreover, the latest partnership follows another notable development for Hedera. Per onchain data the rising graph shows increases in transaction counts. Per chart, it is approaching 72 Billions in cumulative transactions count that has been processed across its network.
That figure highlights sustained enterprise usage rather than isolated bursts of activity. As transaction volumes continue growing, Utila integration appears less like an optional upgrade and more like a necessary step.
For Hedera, enterprise adoption isn’t being measured by announcements alone. It’s increasingly being backed by transaction volume, regulated infrastructure, and participation in large-scale financial initiatives.
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Solana za posledních 30 dní přilákala čisté přílivy přes 900 milionů USD a počet aktivních uživatelů v červenci vystřelil na rekordních více než 300 000.
Solana has reached a new milestone, becoming the leading blockchain network for real-world asset holders. The network recorded over 300,000 active users in early July, setting an all-time high for engagement with tokenized assets.
Net inflows surge, outpacing other blockchainsOn-chain analytics firm rwa.xyz reported that Solana saw net inflows exceeding $900 million in the thirty days leading up to July 3, 2026. This figure places Solana significantly ahead of competing blockchain platforms in attracting capital for tokenized real-world assets.
The data suggests that asset managers are increasingly opting for public blockchain networks, with Solana cementing its position as the preferred choice for institutions moving tokenized funds to on-chain platforms.
Blockchain30-day Net InflowActive UsersSolana$900 million300,000+Other leading blockchainsBelow $900 millionLess than 300,000Institutional adoption driven by speed and efficiencyAsset managers choosing Solana for real asset tokenization cite low transaction fees and near-instant settlement as key factors. Solana offers an infrastructure that supports high transaction throughput, enabling the network to process large volumes quickly and affordably.
These technical advantages allow both small and large payment operations, such as dividend distributions, to be executed at scale without significant costs. In addition, the streamlined settlement process helps institutions comply with regulatory requirements while keeping operational complexity to a minimum.
Mini dictionary: rwa.xyz is a blockchain analytics platform that tracks data and trends in the real-world asset sector. It provides insights on capital flows, user activity, and protocol adoption for tokenized assets across multiple networks.
Major platforms choose Solana for tokenized fundsWisdomTree, a global asset management firm, has integrated Solana with its tokenization services, including WisdomTree Connect and WisdomTree Prime. Investors and institutions can now mint, hold, and trade the full range of WisdomTree’s tokenized assets—ranging from money market to equity funds—directly on Solana’s blockchain.
Nick Ducoff, Head of Institutional Growth at Solana, stated that this integration signals rising demand for regulated, on-chain real-world assets. He noted that more than $1 billion in tokenized assets now reside on the Solana network.
Growth in regulated, on-chain real-world assets on Solana has pushed total on-chain value above $1 billion.
Byreal exchange and institutional-grade DeFi activity surgeByreal exchange, a decentralized platform built on Solana, marked its first year with more than $3.7 billion in total trading volume and 25.3 million processed transactions. The exchange offers access to over 20 tokenized equities through services such as Backpack, Tether Gold, and xStocksFi.
The platform has emerged as a major liquidity hub for real-world assets, benefiting from the rapid expansion of institutional-grade trading and the adoption of AI-centric decentralized finance infrastructure on the Solana network.
According to DeFi Planet, Solana’s ecosystem for tokenized assets previously reached a $3.4 billion peak in 2026, underlining growing institutional trust and capital movement toward public blockchain networks.
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.
A tokenized stock on Solana outtraded its own Nasdaq listing on a Sunday, adding to Solana's growing dominance in tokenized real-world assets.
Even when Wall Street shuts its doors for the weekend, trading on Solana carries on without interruption. A recent case involving RoboStrategy shows just how significant that difference can be.
RoboStrategy (Nasdaq: BOT), a closed-end fund focused on private robotics and physical AI companies, recorded more trading volume on Solana on a Sunday than it did on the Nasdaq the following business day, according to data shared by Solana on X.
A Sunday that outpaced a MondayBOT is ordinarily a Nasdaq-listed stock, which means it only trades during standard U.S. market hours from Monday through Friday.
However, a tokenized version of the stock also trades on Solana, a blockchain network designed for fast and low-cost transactions that continues operating around the clock, including weekends.
On Sunday, July 12, the tokenized version of BOT recorded $12.86 million in trading volume on Solana. The following day, with Nasdaq open for regular trading, BOT did $9.8 million in volume. In other words, the onchain version of the stock moved more money on a day when traditional markets were closed than the actual stock did during a full trading session.
Solana's post also noted that 68.5% of that Sunday volume came from registered Frontier Traders, suggesting the activity reflected a genuinely engaged base of users rather than a brief, isolated spike.
The timing is worth noting as well. RoboStrategy had recently completed a series of private share issuances between July 7 and July 14, raising approximately $16 million at an average price of $35.50 per share. It remains unclear whether that capital raise directly contributed to the weekend's trading activity, though the overlap in timing stands out.
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Solana's expanding role in tokenized stocksThis is far from an isolated example. Solana has steadily built a lead in the broader market for tokenized real-world assets.
According to data from rwa.xyz, Solana now counts 301,074 holders of tokenized real-world assets, the highest of any blockchain by that measure, ahead of Plume's 247,755, Ethereum's 200,860, and BNB Chain's 118,840 holders.
The network currently holds approximately $3.01 billion in tokenized assets spanning 2,121 different asset types, having briefly touched an all-time high of $3.62 billion earlier this month.
By total value, Solana ranks third among all networks, behind Ethereum and BNB Chain, though it leads decisively when measured by the number of individual holders.
Tokenized equities in particular have driven much of that growth. Solana recorded $3.47 billion in tokenized equity trading volume in June, a new monthly record, and accounted for more than 96% of all tokenized equity trading volume across every blockchain that month, according to data from Blockworks.
That figure suggests Solana is not simply hosting these tokenized assets, but has become the primary venue where the actual trading takes place.
Robinhood joins the lineupSolana's collection of tokenized stocks grew further on July 16, when the network announced that HOODx, a tokenized version of Robinhood Markets (Nasdaq: HOOD) stock, had gone live.
Robinhood is a commission-free trading platform widely used by retail investors to buy stocks, options, and crypto. HOODx is issued by Backpack Securities, a regulated entity that tokenizes real-world stocks, and is made accessible through Sunrise, Solana's dedicated gateway for bringing external, real-world assets onto the network.
In practice, this means investors can now buy and sell a tokenized version of Robinhood's own stock on Jupiter, one of Solana's largest decentralized exchanges, the same platform many traders use to buy and sell meme coins.
Ethereum tento týden vzrostlo o 8 % a překonalo Bitcoin, BNB, XRP, SOL i HYPE díky přílivu do ETH ETF, akumulaci BitMine a spuštění Robinhood Chain. ETH ale stále naráží na 100denní EMA.
Ethereum price today: $1,870Ethereum has outperformed crypto majors Bitcoin, XRP, SOL and HYPE following a market boost from cooling inflation reports.The Robinhood Chain launch, ETH ETF inflows, BitMine's accumulation and Clarity Act discussions are spurring the outperformance.ETH saw a rejection at the 100-day EMA after rising 10% over the past week.Ethereum (ETH) has outperformed the top 10 cryptocurrencies since the crypto market began a recovery last week. On a weekly timeframe, the top altcoin is seeing an 8% gain, compared to 2.4%, 1.4%, 1.6%, -1.8% and -3.5% for Bitcoin (BTC), BNB, XRP, Solana (SOL) and Hyperliquid (HYPE).
While cooling inflation reports and declining energy prices were primarily responsible for the recent broad rally across the crypto market, ETH's outperformance stems from several other key factors.
ETH vs Top Cryptos. Source: CoinGeckoWhy Ethereum is outperforming other top cryptosThe Robinhood Chain, launched on July 1 as an Ethereum Layer 2 (L2), has been spurring demand for native ETH. The amount of ETH bridged from the L1 to the L2 chain has surpassed $164 million, a 10x increase in the past week, according to onchain analytics platform Token Terminal.
"If adoption continues, the chain could become a meaningful new source of demand for Ethereum," the platform stated in a Thursday X post.
The chain has seen strong demand over the past week, attracting token launchpads and memecoin activity. In 2024, Solana saw a similar upsurge in memecoin activity before going on a run that outperformed major cryptocurrencies.
Beyond that, Ethereum is also attracting institutional capital again, with $96 million in net inflows over the past three days. Last week, US spot ETH ETFs ended an eight-week outflow streak after recording $84.4 million in net inflows, per SoSoValue data. Since the beginning of the month, the products have only seen two outflow days, while XRP and Solana products are struggling to attract capital.
Similarly, US spot BTC ETFs have posted four outflow days so far in July and are on track to end the week on negative flows.
In addition, Ethereum treasury firm BitMine Immersion has remained a consistent source of demand for the top altcoin, accumulating roughly 70,000 ETH in the past two weeks.
Strategy, on the other hand, which has been a major demand driver for Bitcoin, flipped to distribution over the past two weeks after it sold $216 million worth of BTC. The firm also failed to log any buying activity last week.
Increased discussion and positive sentiment around the Clarity Act are also filtering into Ethereum, as it hosts the majority of onchain activity. The L1 is the largest chain by total value locked (TVL) and tokenized assets, with $40.9 billion and $14.8 billion, respectively, according to DefiLlama data.
Despite several positive developments surrounding ETH currently, the broader crypto market recovery remains fragile amid resumed geopolitical tensions in the Middle East. Bitfinex analysts also noted that ETH ETF inflows are not yet strong enough to drive prices.
"The $96 million total sits against a market capitalization above $220 billion, which makes it a rounding error even allowing for the illiquid spot market. A bid concentrated in one issuer remains too narrow to call a regime," the analyst wrote in a Thursday market commentary.
"Whether Ether ETFs continue to draw buyer interest remains to be seen; they have struggled to do so across nearly two years since launch."
Bitfinex added that sustained improvements in onchain activity are a "stronger catalyst" for an L1 like Ethereum.
Ethereum Price Forecast: ETH fails to reclaim 100-day EMA despite 10% jumpOn the daily chart, ETH/USDT trades at $1,874, maintaining a constructive bullish bias as price remains above the 20- and 50-day Exponential Moving Averages (EMAs) at $1,780 and $1,810, respectively. The altcoin remains capped by the longer-term 100-day EMA at $1,948 after a 10% rise over the past week, suggesting room for further upside only if this barrier is reclaimed.
Momentum stays supportive, with the 14-day Relative Strength Index (RSI) around 60 and the Stochastic hovering in the low 70s, hinting at a cooldown after a strong rally.
On the topside, immediate resistance is located at the horizontal level of $1,909, followed by $2,018 and $2,107, where prior supply converges. Above these, additional resistance is seen at $2,211 and then $2,388.
ETH/USDT daily chartOn the downside, initial support emerges at $1,806, ahead of the nearby dynamic floors offered by the 50- and 20-day EMAs. Below these, more substantial demand is seen at $1,741, with deeper supports at $1,524, $1,404 and $1,155 in the event of a broader corrective slide.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
APAC firmy jako Sony, Upbit a Toss stále častěji staví na OP Stacku. Upbit plánuje GIWA Chain a Toss testuje proof of concept stablecoinu krytého korejským wonem.
Asia-Pacific enterprises are moving past the question of whether blockchain works and into deciding where it fits in their core business. From Mitsui & Co. Digital Commodities’ Zipangcoin on OP Mainnet to Sony Block Solutions Labs’ Soneium and Upbit operator Dunamu’s planned GIWA Chain, a wave of established consumer and financial platforms is building on the OP Stack. Juntaro Iwase, Managing Director for Japan and Southeast Asia at OP Labs, spoke with blockchainreporter about what’s driving this shift, how OP Enterprise addresses regulatory and operational demands, and why distribution — not just technology — is APAC’s biggest advantage.
1. What is the approach of Asia-Pacific-based enterprises toward blockchain adoption in comparison with Europe and the U.S.? The clearest difference is posture. Many APAC enterprises are no longer asking whether blockchain works. They are asking where it belongs in their core business. The recent examples speak for themselves. Mitsui & Co. Digital Commodities launched Zipangcoin on OP Mainnet. Sony Block Solutions Labs built Soneium for consumer and creator applications. Dunamu, the operator of Upbit, plans to use the OP Stack for GIWA Chain, and Toss has announced a proof of concept exploring a Korean won-backed stablecoin.
Europe and the U.S. are progressing too, as Kraken’s Ink and Bitpanda’s Vision Chain demonstrate. What stands out in APAC is the combination of large consumer platforms, digitally sophisticated users, and companies with the distribution to bring onchain products to millions of customers who already trust them.
2. Why are Optimism and other Ethereum L2 solutions gaining preference as infrastructure among APAC enterprises? Enterprises are not choosing an Ethereum L2 for scalability alone. They evaluate the full solution, including the infrastructure, the operating model, the ecosystem, and whether they can integrate the tools their business requires.
Those requirements differ by company. Toss is running a proof of concept on the OP Stack alongside KYC and AML infrastructure and Privacy Boost from Sunnyside Labs. GIWA Chain plans to use the Self-Managed tier of OP Enterprise so Upbit can retain control over its sequencer and configuration while receiving engineering support and backup resilience. Mitsui & Co. Digital Commodities launched Zipangcoin on OP Mainnet, which it has said supports its plans to reach investors worldwide.
The common thread is choice. Companies can build on an established public network or deploy dedicated infrastructure, and in either case work with the compliance, custody, monitoring, and privacy providers appropriate for their business.
3. What are the regulatory compliance and privacy demands of the APAC-based entities that are shifting on-chain? Regulated institutions open with questions about accountability, data visibility, operational control, and how blockchain fits into their existing systems. Public blockchains are transparent by default. If a financial product requires transaction details or customer balances to remain confidential, an additional privacy layer may be needed. Institutions may also need KYC, AML, transaction monitoring, custody, permissioning, and reporting tools. A blockchain infrastructure provider does not replace those functions or determine whether a product is compliant. Our role is to provide reliable infrastructure, clear operating models, and the technical integration points needed to work with specialist providers.
The Toss proof of concept demonstrates this layered approach. The OP Stack provides the blockchain infrastructure, Sunnyside Labs provides Privacy Boost, and separate KYC and AML infrastructure supports the compliance requirements. Each layer is handled by the party best equipped to handle it.
4. What is the role of the OP Enterprise in advancing enterprise-scale blockchain adoption across APAC? The hardest part of enterprise blockchain adoption is often not launching the technology. It is establishing an operating model that can support a critical business. Organizations need to know who runs the infrastructure, who responds when something breaks, how upgrades are managed, and how the network fits their internal security and procurement processes.
OP Enterprise is designed around those operational requirements. Companies can use a Fully Managed model or operate the infrastructure themselves through Self-Managed with direct engineering support. They can also begin on OP Mainnet before deciding whether they need a dedicated chain. The organization chooses the level of operational responsibility and control that fits its capabilities, and can change that answer as it matures.
5. How does the rollout of Optimism and Soneium benefit creator and consumer applications in Asia? Soneium shows how blockchain can support consumer experiences without requiring users to understand the technology underneath. Built by Sony Block Solutions Labs using the OP Stack, Soneium gives developers an Ethereum-compatible foundation for entertainment, gaming, creator, and community applications.
Sony has described its goal as making blockchain operate quietly behind the scenes while enabling trust, traceability, digital ownership, and clearer attribution of creative work. For creators and fans, this can support new ways to participate and collaborate, while the OP Stack provides the scalable infrastructure underneath those experiences. That philosophy of keeping the technology in the background and the experience in the foreground is exactly how consumer adoption happens in this region.
6. What is the significance of Upbit’s plan to develop the GIWA Chain via the OP Stack to advance the future of exchange-scale infrastructure? Upbit’s decision to develop the GIWA Chain reflects a broader shift in how major exchanges think about infrastructure. They increasingly want to own the infrastructure through which their users access onchain products. A dedicated chain can provide greater control over performance, transaction policies, user experience, product development, and the economics generated by the ecosystem.
Under the planned partnership between Dunamu and the Optimism Foundation, GIWA Chain intends to become the first chain on the Self-Managed tier of OP Enterprise. Upbit would retain control over the primary sequencer and configuration, while Optimism would provide monitoring, engineering support, and backup resilience.
7. Can you highlight the opportunities and challenges that shape enterprise-level blockchain adoption within the APAC region in comparison with the global markets? APAC’s biggest advantage is distribution. Sony, Upbit, Toss, and Mitsui & Co. Digital Commodities already have established brands, customers, and business relationships. They do not need to build an audience from zero. The challenge is turning blockchain infrastructure into a reliable and sustainable business. Regulations differ across Japan, Korea, Singapore, Hong Kong, and other markets. Companies must also integrate blockchain with existing systems and work with the appropriate providers across custody, identity, monitoring, privacy, and liquidity.
In my experience, local system integrators and trusted vendor relationships also play a major role in markets such as Japan. Technology matters, but local operational credibility often determines whether a project reaches production.
8. How will built-in interoperability for OP Chains facilitate enterprises developing in APAC? Native interoperability is still in development. Today, OP Chains rely on existing bridges and messaging solutions to connect across networks. The longer-term objective is to make participating OP Chains work more like a connected ecosystem. Assets and information could move between them more easily, allowing companies to operate dedicated infrastructure without creating completely isolated networks. This could be particularly valuable in APAC, where products often launch for a domestic market but may later seek international users, applications, and liquidity.
9. What is OP Stack’s contribution to ensuring resilience and scalability for massive institutional workloads? The OP Stack was designed for the performance, reliability, and flexibility that enterprises require as blockchain moves into production. Its modular architecture allows organizations to tailor infrastructure to their specific operational needs while continuing to benefit from Ethereum’s security and ongoing innovation.
The proof is in production. More than 50 chains run on the OP Stack today, including networks built by Sony, Uniswap, OKX, and Kraken. Rather than building and maintaining a blockchain from scratch, enterprises can deploy infrastructure that has been proven at scale, reducing technical complexity while supporting high transaction volumes and long-term growth.
10. What is Optimism’s strategy to deal with regulatory requirements for compliant financial institutions operating in Asia? Every regulated institution operates under different legal and operational requirements, and those requirements vary meaningfully across APAC jurisdictions. Rather than imposing a single deployment model, OP Enterprise gives institutions the flexibility to configure infrastructure according to their specific needs, including how the chain is operated, who controls the sequencer, and which compliance, custody, and privacy providers are integrated.
That flexibility supports institutions in meeting their own regulatory obligations in their own jurisdictions, while still benefiting from the Ethereum ecosystem’s security and innovation. Compliance decisions remain with the institution and its advisors, and the infrastructure supports a range of deployment and integration requirements.
11. How do fully self-managed tiers of OP Enterprise shape enterprise-focused blockchain strategies within the APAC region? The Self-Managed tier reflects a consistent request from large financial institutions. They want the ability to control their own blockchain infrastructure without taking on the burden of building everything themselves.
For regulated institutions, the appeal is programmable financial infrastructure that combines operational sovereignty, direct control, and dedicated engineering support. The institution decides how the infrastructure is operated, secured, and integrated with its existing systems, while drawing on proven technology underneath. For many APAC institutions, that combination is what finally moves blockchain from the innovation lab into the infrastructure roadmap.
12. What is APAC’s role in accelerating the expansion of Optimism’s network and Optimism’s network globally? APAC has become one of the strongest examples of how blockchain is evolving into enterprise infrastructure. Activity across finance, payments, consumer technology, and entertainment shows that adoption is no longer limited to crypto-native companies.
Across the region, organizations are deploying or exploring the OP Stack, OP Mainnet, and OP Enterprise. In doing so, they are helping define what enterprise adoption could look like at global scale.
Over the next twelve months, I expect the question in APAC boardrooms to shift from “should we pilot this” to “which of our products goes onchain.” The companies with distribution, regulatory discipline, and the right infrastructure partners will be best positioned to answer it.
Injective podala u SEC žádost o registraci transfer agenta, což má převést oficiální evidenci vlastnictví cenných papírů a RWA na blockchain. Zároveň zveřejnila MiCAR whitepaper pro regulovanou expanzi v EU.
Injective has officially filed its transfer agent registration with the US Securities and Exchange Commission (SEC).
The record of who owns a security is the backbone of every market. It decides who gets paid, who can vote, and who can sell. Today, that record is kept offchain by dedicated institutions, updated by hand, and reconciled across intermediaries. Injective is moving that function onchain. The filing starts a path toward performing a core market function directly onchain.
Tokenized securities and RWAs need compliant ownership records on infrastructure that settles in less than a second. Injective will be ready to do this at scale right here in the United States.
What A Transfer Agent DoesA transfer agent maintains the official ownership record for a security and processes changes to it. When shares change hands, the transfer agent updates the register, handles the transfer, and keeps the record authoritative. It is the function that makes ownership real and enforceable, and in traditional markets it sits with a specialized institution that maintains the ledger offchain.
Why Bringing It Onchain MattersThe Transfer Agent filing targets the gap between a tokenized security and the official record behind it.
With the transfer agent function onchain, the ownership record can live on the same chain as the asset. The token becomes the record instead of a pointer to a database somewhere else. Market participants can then record and transfer ownership of tokenized securities in seconds, without a chain of intermediaries reconciling after the fact.
That is the goal. Less delay. Less duplication. Fewer places for errors and disputes to creep in.
Part of A Larger FoundationThis filing sits alongside the rest of Injective's work to bring institutions onchain.
It also comes just hours after Injective officially published its MiCAR whitepaper, enabling Injective to expand its offering in a regulated manner across the European Union member countries. This marks another major vote of confidence for Injective and its rapidly growing ecosystem.
That is the market stack taking shape. Issuers can create assets with the right controls, record ownership onchain, and settle transfers in less than a second on infrastructure built for finance.
This is one of several announcements from the Injective Summit. More is on the way.
About InjectiveInjective is a lightning fast interoperable layer one blockchain optimized for building premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
Robinhood Crypto přidal INJ od Injective Protocol do spotového obchodování pro oprávněné uživatele v USA. Listing zpřístupňuje DeFi aktivum širšímu retailu.
Robinhood Crypto has added Injective Protocol’s native token, INJ, to its trading platform, making the DeFi-focused asset available for spot trading among eligible US users. The listing went live on July 16, with INJ trading in the range of roughly $4.76 to $5 and carrying a market capitalization near $494 million.
What Injective actually does Injective is a layer-1 chain built specifically for finance, with a focus on decentralized trading, tokenization, and cross-chain interoperability.
The INJ token serves multiple roles within this ecosystem. It functions as the governance token, giving holders voting rights on protocol decisions. It also powers the network’s staking mechanism, where validators and delegators lock up INJ to secure the chain and earn rewards. And it handles fee payments across the platform’s various financial applications.
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The Injective team has also been active on the supply side. A recent token burn destroyed 43,500 INJ, reducing the circulating supply.
Why this listing matters beyond the ticker Injective recently launched US-regulated futures contracts on Bitnomial, signaling that the project is actively pursuing institutional-grade market infrastructure alongside retail accessibility. Having both a regulated futures market and a major retail trading platform offering the same asset creates a more complete market structure.
Robinhood itself has been developing Robinhood Chain and exploring tokenized stock offerings, positioning itself as a participant in the broader tokenization movement. Adding INJ, a token from a chain that specializes in financial infrastructure, fits into that strategic direction.
What this means for investors INJ’s current price range of $4.76 to $5 sits well below its historical highs, which means new Robinhood buyers are entering at a point where the token has already experienced significant drawdowns.
For those already holding INJ, the Robinhood listing removes one of the persistent complaints about mid-cap DeFi tokens: accessibility. The asset is no longer something you need a crypto-native wallet or a specialized exchange to acquire. That broader distribution channel could prove valuable as the project pursues AI-driven economies and deeper real-world asset integration within its infrastructure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
What's Important This Week
⚙️ Robinhood Chain Mainnet is Now Live on the Arbitrum Platform
💳 ZeroDev Launches a New Wallet
🇬🇧 Founder House London Concludes with $300K Awarded
📣 Announcements Key updates from the Arbitrum ecosystem and Foundation.
Robinhood Chain Mainnet is Live
The launch of Robinhood Chain enables a more customized infrastructure designed to satisfy precise performance, security, and regulatory requirements. This environment establishes a robust foundation for the integration and development of decentralized financial primitives.
Introducing ZeroDev Wallet 0:00
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ZeroDev Wallet is an embedded wallet built on ZeroDev’s programmable account infrastructure. It gives teams one stack for wallet creation, signing, smart account execution, gas sponsorship, session keys, policies, recovery options, and transaction orchestration.
Meet the Winners of Founder House London
From more than 490 registrations, 140 founders were selected to join Founder House London for three days of targeted sessions and iteration on product-market fit and go-to-market alongside mentors from across the Arbitrum ecosystem. By the end of the program, teams had submitted 64 projects competing for a share of $300,000 in prizes and grants.
📚 Learn & Build New learning drops and hands-on resources from across the Arbitrum ecosystem.
Predictable Fees for Onchain Agents
As agentic commerce grows, predictable fees become increasingly important.
This article breaks down why predictable fees matter for agentic commerce, how gas pricing works, and how Arbitrum’s dynamic pricing is evolving to support this next wave of onchain demand.
Build Your First Robinhood Chain App
Want to get started in building on the Robinhood Chain? This article from @hummusonrails features a full walkthrough from code design to final deployment of your first dApp on Robinhood!
Arbitrum Supports x402 and MPP For Agentic Finance
Developers now have two new pathways for building agentic payment and settlement flows on Arbitrum. Arbitrum is supported by Coinbase’s hosted x402 facilitator, and Offchain has published arbitrum-mpp, an open-source implementation for making payments over MPP on Arbitrum.
How Smart Accounts Give Onchain AI Agents Safe Permissions
Agents need the ability to act. They also need boundaries. Smart accounts make that possible by moving permissions, policy, and enforcement to the account layer.
🔦 Ecosystem Highlights Fresh launches and standout threads from around the Arbitrum ecosystem.
$800K in Revenue in the Last 7 Days
Robinhood Chain generated more than $800K in revenue in the last 7 days, annualizing to $42M at this rate.
Introducing Swaps by Variational
Variational just launched Swaps, bringing Wall Street's widely used trading infra onchain with institutional liquidity for tokenized markets. A big step for @variational_io toward bringing TradFi into the programmable economy.
Rialto Goes Live on Robinhood Chain
We’re excited to welcome @rialto_xyz, an onchain exchange for trading and borrowing against tokenized equities, crypto and real-world assets, launched on the Robinhood Chain.
Prism is Live on Arbitrum 0:00
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Arbitrum is building the finance-native platform for the programmable economy. Prism is where the pieces of Arbitrum’s financial stack start coming together.
🛠️ Dev Tooling & Infra Updates to SDKs, CLIs, and developer workflows across the stack.
ZeroDev Wallet SDK
What does a smart-account-first embedded wallet SDK actually unlock?
ZeroDev breaks down 5 product flows to build with the ZeroDev Wallet SDK.
🗓️ Events Workshops, builder and founder programs, and ecosystem meetups to watch.
Recap: Founder House London If you’re a founder who missed the ultimate in-person mentorship experience, here’s a look at what went down at Arbitrum Founder House London 🇬🇧
We've brought teams together under one roof for a 3-day founder residency where they:
Built new financial products across tokenized capital markets, collateral and risk infrastructure, payments, tokenized equity, agentic finance and yield bringing products onchain via Arbitrum One and the Robinhood Chain Refined their product & GTM strategies Received mentorship from our ecosystem partners Competed for $300k in prizes Catch the highlights. 👇🏻
0:00
/0:58
To keep up with upcoming builder programs, funding opportunities, and ecosystem updates, subscribe to the Builder Newsletter.
What builders are debating and proposing this week.
[Constitutional] AIP: Ratification of Security Council Election Process Improvements In September 2025, the ArbitrumDAO showed varying degrees of support for five Security Council Election process improvements via a temperature check. This updated temperature check aims to ratify the DAO’s support for the inclusion of four and omission of one of the originally proposed improvements, ahead of an on-chain vote.
ArbitrumDAO Factsheet: Robinhood Chain Mainnet Launch Robinhood Chain went live on public mainnet on 1 July 2026, a dedicated Arbitrum chain settling to Ethereum, after a testnet that processed more than 200 million transactions.
Sedona, self-custodial trading platforma migrující na Arbitrum, se spojí s Fhenix a nasadí infrastrukturu FHE pro výchozí šifrování zůstatků, pozic i limitů AI agentů. Firma tím přechází od TEE ke kryptografickým zárukám.
Sedona, a self-custodial trading platform migrating to Arbitrum, is excited to announce its strategic partnership with Fhenix, a platform that computes sensitive data with full encryption. The purpose of this partnership is to replace Sedona’s existing Trusted Execution Environment (TEE)-based security model with fully Homomorphic Encryption. Basically, both firms specialize in protecting confidential data.
This integration powers private finance on Arbitrum, ensuring that user balances, portfolio positions, and Artificial Intelligence (AI) agent spending limits remain encrypted by default. Furthermore, Sedona was founded by Tyler Maxwell, a trading-first, self-custodial neo-bank that facilitates spot trading, perpetuals, and sketched products. Both platforms are expert in providing their services all over the world in terms of security and protection.
Fhenix and Sedona Advance Cryptographic Privacy for On-Chain Finance Guy Itzhaki, CEO of Fhenix, admires Sedona in good words. He said, “Sedona is exactly the kind of application Confidential FHE was built for. Trading platforms and financial applications need privacy that extends beyond transactions to balances, positions, and increasingly the parameters that autonomous agents operate within.”
“By moving from trusted hardware to cryptographic guarantees, Sedona is showing how confidential finance can become a native capability on Arbitrum rather than an optional feature. We believe this partnership is an important step toward making privacy a default expectation for on-chain financial applications.”
Now, Sedona is shifting from the Seismic ecosystem to Arbitrum. Once that migration is finished, Sedona will deploy Fhenix’s CoFHE infrastructure, moving the platform’s privacy model from hardware-based trust assumptions to cryptographic guarantees. This integration is the first-type in its nature.
Replacing Hardware Trust with Fully Homomorphic Encryption The landmark integration of Sedona and Fhenix is much more worthy for users and developers. Existing private Decentralized Finance (DeFi) solutions primarily depend on trusted execution environments, which only require users to depend on underlying hardware or on community-based models. Homomorphic encryption permits computations to be performed directly on encrypted data, diminishing those trust dependencies.
Tyler Maxwell, Founder of Sedona, also clarifies this integration. He said, “We started with TEEs because they were the most practical way to deliver privacy, but our goal has always been to remove trust assumptions wherever possible. Fully homomorphic encryption lets us protect sensitive financial data through mathematics rather than hardware, providing a much stronger foundation for the future of self-custody. “
“For many of our users – especially those in emerging markets who rely on stablecoins as their primary savings account and payment rail- financial privacy isn’t a luxury. It’s an expectation. Bringing FHE to Sedona means they can manage their assets, automate strategies, and use AI-powered tools without exposing the information that matters most.”
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.
Dnes se odemyká zhruba 92 milionů ARB, asi 1,65 % uvolněné nabídky, a míří do treasury Arbitrum DAO. Při ceně kolem 0,09 USD má toto odemknutí hodnotu asi 8 milionů USD.
Let me tell you what happens today on the highway we wrote about two days ago. Around 92 million new ARB tokens leave their vault, right as the token trades within sight of the all-time low it printed in late June. Unlock is the scariest word in a falling token’s vocabulary. But read the shipping label on this particular delivery, because where the tokens go matters more than how many there are.
ARB traded at $0.08989 on July 14 per this site’s tracking, and holds near the $0.09 area as the unlock lands on July 16, 2026, per CoinGecko. The token sits just above the all-time low set in late June, after our coverage this week flagged its 13.8% bounce as the rotation reaching the layer-2 shelf.
The Unique Angle: read the label, not the headline Here is the detail the word “unlock” hides. Today’s release of roughly 92 million ARB, about 1.65% of released supply, is directed to the Arbitrum DAO treasury, according to the project’s published vesting schedule. Not to team wallets. Not to early investors.
Why that distinction is the whole story: unlock damage comes from tokens that want to be sold. When vesting cliffs release coins to insiders and venture funds, history is unambiguous. Arbitrum’s own May 2024 unlock is the textbook case: 92.65 million ARB went to team, advisors and investors, portions flowed straight to exchanges, and the price slid on schedule. Those tokens had sellers attached.
Treasury tokens are different animals. They land in the DAO’s vault and sit there until governance votes to spend them on grants, incentives or operations. No fund manager is waiting to market-dump them this afternoon. The mechanical sell pressure from today’s event is close to zero on day one.
Now the honest other half, because unlocks earn their reputation two slower ways. First, treasury tokens are deferred supply, not cancelled supply: every grant and incentive program eventually turns some of them into sell flow, drip by drip, and that drip has run for years. Second, unlock headlines move prices all by themselves. Plenty of traders sell the word without reading the label, and in a token this beaten down, sentiment is the thinnest layer of all. Today can still print red for no mechanical reason whatsoever.
The One Number That Matters Roughly $8 million. That is the dollar value of today’s unlock at current prices, 92 million tokens times about nine cents.
Hold that against history. The May 2024 unlock of nearly identical token count was worth $92 million, because ARB traded above a dollar. Same event, one-tenth the dollar weight, and aimed at a vault instead of an exit. The number is small enough to say something bigger: after two years of decline, ARB’s unlocks have deflated from market-moving events into rounding errors. That is what capitulation pricing looks like from the supply side. Whether it also marks a bottom is a question the chart, not the calendar, will answer.
Key Levels The map from our prediction page stands. Support: $0.08, the line the whole recovery attempt rests on, now doubling as the post-unlock stress test. Resistance: the dime, $0.10, unchanged as the level where attention becomes conviction. Recent trading has also respected a tighter shelf near $0.078 on the downside. If unlock-headline selling appears, $0.08 is where it either exhausts or matters.
Supporting Context The paradox we built the ARB prediction page around got louder this month, not quieter. Robinhood launched the public mainnet of Robinhood Chain, a tokenized-stocks network built on Arbitrum’s own Orbit technology, with Uniswap integrated from day one. LG Electronics selected Arbitrum tech for a custom layer-2 aimed at advertising infrastructure. The network reports more than $18 billion in value secured. And the token that governs all of it trades within sight of its all-time low, at a $572 million cap as of this week’s reading.
Usage up, price down: the value-capture question in its purest form. Days like today feed both sides of it. Bulls point at institutions building on the highway; bears point at 92 million more tokens on a road where the toll still goes uncollected.
Bottom Line Today’s unlock is the mildest version of a scary event: small in dollars, aimed at a treasury, mechanically near-harmless on day one. The risks are the slow drip and the reflexive headline sellers, and $0.08 is the level that measures both. The story that actually matters is unchanged from our prediction page: the highway keeps winning tenants while the token waits to matter. Watch the dime above, the eight-cent line below, and let the post-unlock tape speak for itself.
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 the Arbitrum unlock today? Roughly 92 million ARB, about 1.65% of released supply, unlocks on July 16, 2026, directed to the Arbitrum DAO treasury under the published vesting schedule.
Will the ARB unlock crash the price? ARB trades near $0.09 as of July 16, 2026, just above the all-time low it set in late June, after a 13.8% bounce earlier this week.
Why is ARB so cheap if Arbitrum is widely used? The network secures over $18 billion and keeps winning institutional deployments like Robinhood Chain, but the market doubts how much of that value the governance token captures. That gap is the central ARB debate.
What are the key ARB levels to watch? Support at $0.08, with a tighter shelf near $0.078; resistance at the round $0.10. Holding $0.08 through the unlock would be the constructive outcome.
When is the next Arbitrum unlock? Arbitrum runs recurring monthly unlocks through 2027 under its vesting schedule. Check the official Arbitrum Foundation documentation for the next scheduled date and allocation.
AUTHOR
Simeon is a detail-driven editor who sharpens every piece with clarity and precision, ensuring clean, consistent, and professional content throughout.
Entity X zvýšila svou držbu Kaspy na 1,47 miliardy $KAS, tedy zhruba 42,9 milionu USD, a je největším známým neburzovním držitelem v síti. Poslední nákup zahrnoval 6,8 milionu $KAS z Bybit, Gate a Bitget.
A wallet cluster tracked on-chain as Entity X has lifted its total Kaspa ($KAS) position to 1.47 billion tokens, valued at approximately $42.9 million at current prices, making it the largest known non-exchange holder on the Kaspa network.
Fresh Inflows From Major Exchanges The latest leg of accumulation included a fresh inflow of 6.8 million $KAS drawn from liquidity pools at @Bybit_Official, @Gate, and @Bitget. The movement confirms a pattern of deliberate, exchange-sourced buying rather than peer-to-peer transfers, suggesting the entity is actively pulling tokens off trading venues and into cold or self-custodied storage.
On-chain data shows accumulation patterns consistent with whale positioning ahead of a known catalyst, a familiar playbook in crypto, but one that tends to accelerate when the underlying technical event is concrete rather than speculative. The @kaspaunchained ecosystem has been scaling toward a broader network upgrade, adding a layer of context to the timing of these moves.
Why the Kaspa Network Is Drawing Attention Kaspa has carved out a unique place in the cryptocurrency space as a pure proof-of-work Layer 1 blockchain built on a blockDAG (Directed Acyclic Graph) structure rather than a traditional linear chain. While Bitcoin processes a single chain of blocks and discards competing ones as orphans, Kaspa's BlockDAG architecture weaves those competing blocks into the ledger itself, enabling parallel block processing at a speed that no other proof-of-work network comes close to matching.
The Toccata hard fork successfully activated on Kaspa's mainnet, marking its most significant upgrade. It transitions the network from a high-speed proof-of-work payments chain to a programmable base-layer blockchain, introducing native Layer-1 covenant systems for expressive smart contracts, zero-knowledge proof verification opcodes, and support for KRC-20 tokens, all without requiring a global virtual machine.
Following that upgrade, the network is set to scale throughput through a series of structured block rate increases, moving from the current 10 blocks per second to 25 BPS, then to 40 BPS, and ultimately targeting 100 BPS as its long-term objective. On-chain data cited by analysts indicates declining Kaspa token balances on cryptocurrency exchanges, suggesting increased movement into self-custody wallets, a pattern interpreted as indicative of long-term holding behavior rather than active trading activity.
Whether Entity X represents a single institutional player or a coordinated group remains unknown. What the on-chain record shows clearly is a sustained, directional bet on the network at scale.
Sources:
Kaspa Roadmap 2026-2027: Every Upgrade Explained, Our Crypto Talk
Kaspa touted as 2026 altcoin standout with PoW BlockDAG edge, Crypto News
Kaspa Exchange Holdings On-Chain Data, Kaspalytics
Ondo Finance a SBI Group oznámily strategické partnerství pro uvedení japonských akcií on-chain. SBI zároveň začne distribuovat tokenizované produkty Ondo v rámci svého ekosystému a použije stablecoin JPYSC pro vypořádání a kolaterál.
Ondo Finance, the largest tokenizer of stocks globally, and SBI Group, one of Japan's largest financial conglomerates, today announced a strategic partnership. Under the partnership, the companies will bring Japanese equities onchain, distribute Ondo tokenized products across the SBI Group ecosystem, and adopt SBI's JPYSC stablecoin for onchain settlement and collateral.
The partnership connects one of the world's most sophisticated capital markets with the global tokenized economy, expanding access to Japanese assets and bringing Ondo tokenized products to millions of investors across Japan.
Under the strategic partnership, the two companies will work towards:
Tokenization and distribution of Japanese assets onchain, with tokenized instruments to be issued by Ondo Global Markets (BVI) Limited Use of SBI’s JPYSC stablecoin for settlement and collateral on Ondo tokenized assets Distribution of Ondo tokenized assets through the SBI Group ecosystem Cross-promotion of each party's products and services through their respective customers, channels, and strategic partners “Japan is one of the most sophisticated capital markets in the world, and SBI sits at the center of it. This collaboration creates a path to bring Japanese assets onchain and to connect Japan with the global tokenized economy,” said Ian De Bode, CEO, Ondo Finance.
“Ondo Finance has established itself as a global leader in the tokenization of real-world assets and is at the forefront of the tokenized equities market. We believe Ondo will be a key strategic partner as SBI Group forms a global corridor for digital assets, and we look forward to rapidly advancing a wide range of initiatives together,” said Yoshitaka Kitao, Representative Director, Chairman, President & CEO, SBI Holdings
Ondo Finance has established itself as a global leader in the tokenization of real-world assets and is at the forefront of the tokenized equities market. We believe Ondo will be a key strategic partner as SBI Group expands its global digital asset ecosystem, and we look forward to rapidly advancing a wide range of initiatives together.
Together, SBI and Ondo aim to build a bridge between Japan's capital markets and the global tokenized economy, expanding access to Japanese assets for investors worldwide and laying the groundwork for yen-denominated settlement onchain.
BlackRockův iShares Bitcoin Trust (IBIT) drží 734 762 BTC v hodnotě asi 47,1 miliardy USD. Fond od spuštění v lednu 2024 získal zhruba 62 miliard USD čistých přílivů.
@BlackRock's iShares Bitcoin Trust (IBIT) has accumulated 734,762 $BTC valued at approximately $47.1 billion, as institutional appetite for regulated Bitcoin exposure continues to drive inflows into the fund.
A Dominant Force in Spot Bitcoin ETFs IBIT has established a commanding lead over rival spot Bitcoin ETF products since launching in January 2024. BlackRock's fund commands roughly 49% of total US spot Bitcoin ETF assets, placing it well ahead of competitors including Fidelity's FBTC and Grayscale's GBTC. IBIT's cumulative inflows since its January 2024 launch stand at approximately $62 billion, underscoring the scale of institutional commitment to the product over its relatively short life.
BlackRock's Bitcoin position, held primarily through IBIT, represents one of the largest institutional Bitcoin treasuries globally. The ETF structure means BlackRock does not technically own these bitcoins outright. They are held in custody for IBIT shareholders. The shares of the iShares Bitcoin Trust ETF trade on the Nasdaq Stock Market under the ticker symbol IBIT, with Coinbase Custody Trust Company serving as custodian for the fund's Bitcoin holdings.
Institutional Demand and a Volatile 2026 The road to $47 billion has not been without turbulence. US spot Bitcoin ETFs drew $1.97 billion in April 2026, the best month of the year, with BlackRock's IBIT leading institutional demand. BlackRock's iShares Bitcoin Trust accounted for the bulk of April flows, attracting roughly $2 billion in net subscriptions. However, sentiment shifted sharply in the weeks that followed. US spot Bitcoin ETFs recorded $4.06 billion in net outflows during June 2026, the largest monthly redemption since the products launched in January 2024, with BlackRock's IBIT accounting for roughly $3.3 billion, or approximately 75% of the monthly total.
Despite those outflows, the fund's total Bitcoin treasury has held at a historically significant level, reflecting the ongoing structural demand from institutional allocators seeking regulated exposure to $BTC. Spot Bitcoin ETF inflows have become one of the most important signals for institutional Bitcoin demand in 2026, making IBIT's accumulation figures a closely watched metric across traditional finance and crypto markets alike.
Sources:
BlackRock Bitcoin ETF Holdings Hit Record 806,700 BTC Worth $63.7 Billion, Yahoo Finance
Spot Bitcoin ETFs Pull $1.97 Billion in Biggest Monthly Surge Since November, Yahoo Finance
BlackRock's IBIT Led $4.06B June Exodus After BTC ETF News, ICObench
Bitcoinová peněženka nečinná od prosince 2017 převedla 5 908 BTC v hodnotě zhruba 383 milionů USD na novou adresu. Na burzu zatím prostředky neodešly, takže nejde o jasný signál k prodeji.
English日本語한국어繁體中文ไทยPortuguêsItalianoDeutschFrançaisEspañol A Bitcoin wallet dormant since December 2017 transferred 5,908 BTC worth roughly $383 million to a fresh address at 7:15 p.m. ET on July 15, according to blockchain intelligence platform Lookonchain. The coins moved from legacy address “138EM…ReyiT” to a newer SegWit wallet, extending a run of long-idle holdings coming back to life this week.
The 2017-Era Wallet Holds a 284% Paper Gain Arkham data showed the wallet acquired the coins when Bitcoin traded near $16,800, giving the stack a cost basis close to $99.6 million. At current prices, the balance is worth about $383 million, a $283 million paper gain over roughly eight years. 7=
The stash peaked near $726 million during Bitcoin’s October 2025 record above $122,000, according to crypto.news reporting on cycle price data. The holder rode through the 2018 drawdown of nearly 80%, the 2021 rally to $69,000, and the late-2022 slump to about $15,500.
The recipient wallet has not sent funds onward, and no known exchange deposit address received the transfer, on-chain records confirmed.
Analysts Flag Whale Ratio Near Historic Highs Lookonchain wrote in the July 16 post that “the OG received 5,908 $BTC 8 years ago when $BTC was trading at $16,865 and had held it ever since,” noting the position was up 284%. CryptoQuant separately reported that its exchange whale ratio recently stood at 0.99, meaning the ten largest transfers made up nearly all Bitcoin deposited to exchanges.
The firm said elevated readings have historically preceded stronger selling pressure because sizeable deposits are more likely to precede sizeable disposals. Neither the July 15 move nor the earlier 2,931 BTC transfer flagged by Arkham has surfaced on-chain evidence of sales, blockchain researchers told crypto.news.
Why the Wallet Rotation Matters The transfer does not read as a straight exit, and CoinDesk noted that large holders often reshuffle assets to upgrade wallet formats, rotate private keys, prepare estate transfers, or arrange over-the-counter deals that never touch public exchanges.
The switch from a legacy “1” address to a newer “bc1q” SegWit format matches that pattern closely. That distinction matters for market impact, because OTC settlement absorbs supply privately while exchange deposits telegraph potential sell pressure.
Traders watching the whale ratio at 0.99 have a cleaner tape when dormant coins move sideways rather than into centralised order books.
Related Dormant Whale Activity Keeps Stacking This is the second seven-figure dormant transfer flagged this week. A separate wallet moved 2,931 BTC worth about $188 million after seven years of silence, when Bitcoin traded near $6,500. Arkham confirmed that the transfer went to a fresh, unlabelled address, matching the pattern seen this week.
Neither cohort has surfaced through known exchange deposit clusters, keeping selling assumptions inconclusive for now. The recipient address remains passive as of July 16, and the funds have not touched a labelled venue.
Bitcoin traded near $64,000 at publication time, down about 47% from October 2025 highs. Traders will watch whether the whale ratio holds above 0.9 and whether the recipient wallet shifts coins toward centralized exchanges in the coming sessions.
Breez a Turnkey spojily síly, aby vývojáři mohli do backendově řízených aplikací přidat neúschovné bitcoinové peněženky bez držení klíčů na serverech. Uživatel přitom schvaluje transakce přes passkey a server bez jeho souhlasu peníze nepošle.
Breez has partnered with Turnkey to let developers add non-custodial bitcoin to applications that run wallets from their own servers, the companies announced.
The partnership addresses a structural problem. Many mainstream apps operate from the backend, with a single service handling millions of users. Adding bitcoin under that design has meant holding user keys on company servers.
Holding keys makes a company a custodian, a status that carries licensing requirements, legal liability, and the security burden of a large store of user funds. The alternative has been to build a separate device-based wallet, a change that breaks the architecture these apps use to reach scale.
Under the new model, each user receives a wallet whose keys are created and stored inside Turnkey’s secure enclaves. According to the companies, those keys stay out of reach of the app’s servers, Breez, and Turnkey. The company’s backend holds a credential that defines what actions it can take, while authority to move funds rests with the user.
In other words, this partnership positions some of the world’s largest consumer apps to add non-custodial bitcoin without rebuilding their backend architecture or taking custody of user funds.
Turnkey supports Spark, the network the Breez SDK is built on. Paired with Breez’s server mode, a single backend can manage wallets for millions of users without storing keys.
Registered passkeys enable bitcoin self-custody apps The approval flow works as follows. The user holds a credential, such as a passkey registered with Turnkey at signup. The server prepares a transaction and displays the amount, the fee, and the destination.
The user approves the transaction, and it completes. The server cannot spend funds without that approval. For the user, the app’s existing flow does not change, and there is no seed phrase to record.
Turnkey provides embedded wallet infrastructure used by a range of consumer apps and holds a SOC 2 audit. In a note to Bitcoin Magazine, Breez positioned the release as a way for exchanges, fintechs, and neobanks to offer bitcoin and stablecoin services to large user bases without taking custody of funds.
Exchanges can automate payouts under rules their security teams define, and fintechs can add a non-custodial bitcoin service inside their existing interface.
The partnership extends a series of Breez SDK features aimed at lowering barriers to bitcoin integration. Passkey Login replaced the seed phrase, Stable Balance addressed price volatility, and a separate feature added support for sending the stablecoins USDT and USDC. The companies say the combined tools let backend-run products offer bitcoin and stablecoins to users while custody of the assets stays with those users.
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
Na XRP Ledger má brzy dorazit Permission Delegation, nová funkce pro compliance, která umožní delegovat konkrétní úkoly on-chain při uložení klíčů v cold storage. Podle Vet by mohla zjednodušit správu treasury.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Vet, an XRPL validator and director of community at the XRP Ledger Foundation, shared about an XRP Ledger feature that could change how treasury management works.
According to Vet, Permission Delegation is a new functionality for compliance coming to the XRP Ledger soon. The feature will allow users to delegate specific tasks onchain while keeping account keys in cold storage, with Vet adding that "It was born out of the need to manage a treasury."
Permission Delegation is a new functionality for compliance coming to the XRP Ledger soon.
Allowing to delegate specific tasks on chain while keeping account keys in cold storage.
"It was born out of the need to manage a treasury" pic.twitter.com/eSsz2fZu6w
— Vet (@Vet_X0) July 15, 2026 Permission Delegation is the function of granting various permissions to another account to send permissions on behalf of the user's account. Permission Delegation can be used to enable flexible security paradigms such as role-based access control, instead of or alongside techniques such as multi-signing.
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Discussions about Permission Delegation date back to 2024. The amendment XLS-75d "Permission Delegation" was introduced in XRPL v2.6.1 but was later disabled in September 2025 due to a bug that allowed an account to charge transaction fees to any other account and could have been maliciously used to drain an account's XRP balance; hence, the feature was not enabled on mainnet.
Vet's recent comments suggest that Permission Delegation might soon be coming to the XRP Ledger, which will unlock fresh potential on the XRPL.
XRP milestonesIn a recent milestone, the fixCleanup3_2_0 amendment — a collection of fixes for Single Asset Vaults, the Lending Protocol, the permissioned DEX, Multi-Purpose Tokens, and permissioned domains — has achieved a majority, entering a two-week activation period on the XRP Ledger with 30 yes votes.
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The XRP Ledger has surpassed 8 million accounts, thanks to continuous growth. According to XRP Ledger Services, an XRP explorer, the total currently stands at 8,001,658.
CryptoQuant reports that Binance's XRP reserves have hit their lowest level since February this month, falling to 2.61 billion XRP. This suggests a reduced supply of XRP on the world's largest cryptocurrency exchange.
TLDR XRP Ledger surpassed 8 million activated accounts, marking a new milestone in network adoption. Whale wallets accumulated 70 million XRP over the past week, according to on-chain analyst Ali Martinez. Activated accounts represent funded wallets capable of sending, receiving, and interacting with blockchain assets. Tokenization activity continues to expand, supporting digital bonds, private credit, real estate, and treasury products. RLUSD adoption and Ripple’s enterprise payment solutions continue to strengthen the network’s payment ecosystem. The XRP Ledger has surpassed eight million activated accounts, marking another measurable expansion of its global user base. The milestone coincides with fresh whale accumulation totaling 70 million XRP during the past week. Together, these developments highlight rising network activity and renewed demand during a period of market consolidation.
Activated Accounts Signal Broader Network Participation The XRP Ledger Foundation confirmed that more than eight million accounts now hold the minimum required reserve. Activated accounts differ from unused addresses because they can send, receive, and manage assets. Therefore, the total provides a clearer measure of funded participation across the network.
The $XRP Ledger crossed 8,000,000 activated accounts.
The settlement layer powering the continuous growth of tokenization, payments, and AI agents across XRP DeFi. pic.twitter.com/nHq073lAXQ
— XRP Ledger Foundation (@XRPLF) July 16, 2026
The XRP Ledger began as infrastructure for rapid and inexpensive cross-border payments. However, developers now use the network for tokenization, decentralized finance, stablecoins, and automated financial services. Its short settlement times and low transaction costs support these expanding applications.
Enterprises and financial institutions also use the XRP Ledger to build payment and settlement products. These organizations seek faster transfers, lower operational costs, and reliable access to XRP Ledger infrastructure. Consequently, the account milestone reflects growth across both retail and institutional activity.
Tokenization and Payment Services Expand Tokenization has emerged as a growing use case across the XRP Ledger ecosystem. Institutions can issue digital representations of bonds, private credit, property, and treasury products. These assets can move continuously while reducing settlement delays and administrative costs.
Ripple’s enterprise payment services also support transfers involving businesses and financial institutions. Meanwhile, RLUSD adoption adds another dollar-based settlement option for users and companies. The stablecoin supports payments and liquidity without changing the XRP Ledger’s core settlement model.
The XRP Ledger recently added an integrated hub linking artificial intelligence agents, developer tools, and payment systems. Autonomous agents can purchase services, access APIs, and settle automated tasks with supported assets. This structure connects machine-based transactions with decentralized financial infrastructure and direct blockchain settlement.
Whale Buying Supports XRP Market Structure On-chain analyst Ali Martinez reported that large wallets accumulated 70 million XRP during the past week. The purchases occurred while XRP traded through a period of price consolidation. However, the data confirms continued demand from wallets holding substantial balances.
XRP also remains inside a falling wedge on its technical chart. Traders often associate that structure with a possible reversal after sustained downward pressure. Still, price must break the upper boundary before the pattern confirms stronger momentum.
The XRP Ledger now combines eight million activated accounts with broader tokenization and payment activity. Whale accumulation has added another measurable development alongside the network’s expanding use cases. The latest figures show continued participation across users, institutions, developers, and large XRP holders.
Enso odhalilo „toxické pooly“ na Ethereum a Polygon, které při simulaci ukazují lepší cenu a při provedení obchodů doručí horší kurz. U dvou případů odhadlo zisk útočníka na asi 34 600 USD.
Enso says it found two real pools, on Ethereum and Polygon, engineered to pass a wallet’s pre-trade simulation with an attractive quote and then execute at a worse rate.
Posted July 16, 2026 at 9:00 am EST.
A new piece of research says some DeFi liquidity pools are built to lie to the software that routes a user’s trade.
Enso, an onchain development firm, published research on Thursday describing what it calls “toxic pools,” malicious pools that show an accurate, attractive price when a wallet or trading app simulates a swap, then deliver a materially worse result once the transaction is mined.
How the trick works Most wallets and aggregators decide which route offers the best price by simulating a trade before sending it. A toxic pool is engineered to game that step: it returns a strong quote during the simulation, so routing systems pick it, then behaves differently on-chain. Unlike ordinary slippage or MEV, the deception targets the quote itself, Enso said.
“The industry has spent years optimizing price discovery,” said Milos Costantini, Enso’s co-founder and chief product officer, in a statement accompanying the report he co-authored. “Our findings suggest the next challenge is verifying execution integrity. If transaction simulations can be manipulated while real execution tells a different story, we need better ways to verify what users actually receive.”
What the data shows Enso documented two cases. A manipulated Curve pool on Ethereum processed more than 129,000 swaps at worse-than-quoted rates, which Enso estimated overstated quotes by roughly $225,000 and burned close to $30,000 in gas on failed transactions. A separate Uniswap v4 hook on Polygon failed 99.1% of the time, repeatedly luring routers before reverting. Enso put the attacker’s realized profit across both pools at about $34,600.
Both pools have since gone quiet, with the Polygon one disabled in May and the Curve pool active through late June. But Enso said the same operator deployed other contracts, suggesting the technique can be repeated, and it found the Ethereum pool alternated between honest and manipulated behavior, so a single check would not catch it.
A vendor with a fix The disclosure comes as Enso expands Enso Shield, a product it sells to detect exactly this kind of manipulation. The company, which says it has helped settle more than $15 billion onchain, framed the finding as an industry-wide problem and called for independent validation, noting it worked with contacts at Curve and Oku.
Unchained has previously covered how MEV bots quietly extract value from ordinary DeFi trades.
Related Listen: DEX in the City: Why the Market Structure Bill May Not Be Good for DeFi
AI-assisted content: This article was produced with the assistance of AI tools and was reviewed, edited, and fact-checked by a member of the Unchained editorial team before publication.
Jesse Pollak předal consumer Base app zpět Coinbase a přiznal, že sázka na onchain social a creator coins byla „definitivně špatná“. Base se teď soustředí na trading, payments a agenty.
The Coinbase executive is refocusing the largest Ethereum Layer 2 on trading, payments and AI agents after conceding its onchain-social push failed
Jesse Pollak, the Coinbase executive who created Base, handed the consumer Base app back to Coinbase and named crypto investor Jordan Fish, known as Cobie, to lead it, while admitting that his two-year bet on onchain social products and creator coins was a mistake.
Pollak said in a post on X on Tuesday that he had made a "two pronged bet" to grow Base: that builders would drive the next wave of crypto adoption, and that the adoption would come from onchain-native social experiences. He said the first bet was right and the second was wrong. "the entire social side of the market that many of us had been building towards - farcaster, zora, miniapps, and yes, creator coins - disintegrated completely," he wrote. "i was definitively wrong."
Base ranks as the fifth-largest blockchain by total value locked, at $4.54 billion, and is the largest Ethereum Layer 2 by that measure, ahead of Arbitrum's $1.23 billion, according to DefiLlama data on Wednesday. Zora's ZORA token, tied to the creator-coin experiment Pollak singled out, trades about 95% below its August 2025 peak, at roughly half a cent, with a market value near $31 million, CoinGecko data show.
A Retreat From Onchain SocialThe handoff marks the clearest reversal yet of a strategy Coinbase spent more than a year promoting. Pollak said the focus on social had left Base trailing scaled competitors in perpetuals and prediction markets, and with ground to make up in tokenization and enterprise payments. "the collateral damage was pretty bad," he wrote. "and this year has been an exercise in eating shit."
Pollak said he had shifted his own attention back to Base's blockchain, away from the app, and questioned his prior assumptions. "I thought for a long time that social was the only thing that could drive the sort of viral growth to get crypto to a billion people," he wrote. "It's clear that better money is more than enough - we are seeing this live with stablecoins, predictions, perpetuals, tokenization."
He set three priorities for Base in 2026: "winning trading, payments, and agents." He said Base would aim to be "the place that the world's money settles over the next century," and named Robinhood and Stripe as competitors he welcomed.
Cobie Takes the Trading SurfacePollak said he had handed the app "back to the coinbase mothership," where Fish would run it and expand it "beyond the base ecosystem in ways that tbh i won't love as the leader of base." Coinbase brought Fish in-house last year when it acquired his fundraising platform Echo for a reported $375 million in cash and stock.
Fish framed his new remit more broadly than the Base app alone. "I am responsible for trading products at Coinbase (CB app / Pro / Baseapp / etc)," he said in a post on X on Wednesday. He described the decision in characteristically self-deprecating terms: "I cant explain why I did this except I like the opportunity to make something actually good more than I like playing Factorio. So ye maybe I'm an idiot, let's find out."
The Broader PivotThe move lands amid an industry-wide shift away from consumer social apps toward trading, payments and tokenization. Coinbase CEO Brian Armstrong said days earlier that the company's content coins "didn't work" and that Coinbase had "pivoted early this year," adding that its priorities had been "trading, payments, and agents (in that order)."
The timing also follows Robinhood's launch of its own Ethereum Layer 2 last week, built around tokenized stocks and meme trading, adding a well-capitalized rival in the same trading-first lane Base now says it will contest.
Top-Five NetworkPollak is reframing the app, not retreating from the chain. Base remains a top-five network by TVL and continues to process meaningful onchain trading, with about $886 million in decentralized exchange volume over the past 24 hours and $25.6 billion over the past 30 days, DefiLlama data show. Pollak said Base has posted quarterly growth in DEX market share and payment volume, though he did not provide supporting figures.
Fish's mandate also consolidates Coinbase's trading surfaces, the main Coinbase app, Coinbase Pro and the Base app, under one leader, suggesting the reshuffle is less a demotion of Base than a bet on unifying how Coinbase sells trading. Armstrong has framed the trading focus as a continuation rather than a reversal, saying most of Base's resources already go toward trading infrastructure.
Whether the reset closes Base's gap in perps and prediction markets will show up in onchain volume and market-share data in the coming quarters.
T. Rowe Price spustila první aktivně spravované krypto ETF TKNZ na NYSE Arca. Fond nabízí expozici vůči Bitcoinu, Ethereu, BNB, XRP, Solaně, Hyperliquidu, Dogecoinu a Shiba Inu.
T. Rowe Price, which manages nearly $2 trillion in assets, has launched the first active crypto ETF, which provides exposure to crypto assets such as Bitcoin, Ethereum, XRP, and Hyperliquid. Bloomberg analyst Eric Balchunas had previously said that this launch was notable because the asset manager was the largest active manager to enter the crypto space.
T. Rowe Price Unveils First Active Crypto ETF In a press release, the asset manager announced the launch of the first active crypto ETF, which began trading on the NYSE Arca today under the ticker TKNZ. “The fund is the first actively managed multi-token spot exchange-traded product* offered in the marketplace,” the firm noted.
The T. Rowe Price Active Crypto ETF notably offers exposure to Bitcoin, Ethereum, BNB, XRP, Solana, and Hyperliquid. The Fund will also hold top meme coins Dogecoin and Shiba Inu, making it the first U.S. Fund to offer spot exposure to SHIB.
The asset manager also noted that the crypto ETF is designed to capitalize on emerging trends, momentum-driven rallies, and market rotations among crypto assets. Meanwhile, the Fund will offer a net fee waiver, which will be effective until May 31, 2027. The management fee during this period will be 0.75%.
The T. Rowe Price Active Crypto ETF joins a host of other crypto ETFs that have launched this year, including the Hyperliquid ETFs. As CoinGape reported, Morgan Stanley’s Ethereum and Solana ETFs are about to launch, with the Wall Street giant filing amendments to its S-1.
‘Smart Timing’ For The ETF Launch Bloomberg analyst Eric Balchunas commended T. Rowe Price for the timing of the launch of its active crypto ETF. “I think they were smart with the timing- waiting till the Oct selloff dust settled a bit,” he said in an X post.
T Rowe Price’s Active Crypto ETF $TKNZ is ready for launch. Any day now, I’d guess Thursday. I think they were smart with the timing- waiting till the Oct selloff dust settled a bit. pic.twitter.com/5LZO5WHrqn
— Eric Balchunas (@EricBalchunas) July 14, 2026
It is worth noting that the SEC had approved the crypto ETF last month but waited until now to launch the Fund. The asset manager had first filed for the month in October last year, around the time of the infamous crypto crash.
Meanwhile, Balchunas had previously said that the T. Rowe Price Active Crypto ETF was notable because the asset manager was “by far the biggest active manager to apply their active prowess to this space.”
Cardano Foundation uvedla, že chytré kontrakty Plutus nyní zvládnou na řetězci nativně a levně ověřit tisíce podpisů díky BLS12-381. CIP-0133 má být součástí Protocol Version 11, plánované na květen 2026.
Verifying a thousand signatures on a blockchain typically sounds like a recipe for a massive gas bill. On Cardano, it is becoming a routine operation.
The Cardano Foundation has highlighted how Plutus smart contracts can now verify thousands of signatures natively using BLS12-381 elliptic curve cryptography, without routing the computation through external services or sacrificing cost predictability.
What BLS12-381 actually does BLS12-381 is a specific elliptic curve used in cryptography, most famously deployed by Ethereum’s beacon chain for validator signatures. The curve has a useful property: signatures created with it can be aggregated.
In English: instead of verifying one thousand individual signatures one by one, you can compress all one thousand into a single proof and verify that instead. The math checks out, and the on-chain cost stays flat regardless of how many signers were involved.
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CIP-0133, the Cardano Improvement Proposal driving these changes, proposes extensions for efficient multi-scalar multiplication over BLS12-381. The implementation is tied to Protocol Version 11, which is scheduled for rollout by May 2026 and will introduce five new Plutus built-in functions to support these operations.
Cardano’s deterministically executed eUTXO model does a lot of the heavy lifting on the cost side. Because execution costs are calculated before a transaction is submitted, users know exactly what they will pay. Adding new cryptographic primitives does not break that predictability.
Why this matters beyond the technical specs Cardano added native support for ECDSA and Schnorr signatures in 2023, which opened the door to improved multi-signature functionality and better cross-chain interoperability. The BLS12-381 work builds on that foundation, extending the cryptographic toolkit available to developers building on Plutus.
For developers, the removal of off-chain verification requirements is significant. Off-chain computation introduces trust assumptions: you need to rely on external services to do the work honestly and report results accurately back to the chain. Bringing verification fully on-chain eliminates that dependency and the attack surface that comes with it.
Market reaction and what investors should watch The honest read on the market response so far: muted. No significant price movement in ADA followed the announcement, which fits the pattern of infrastructure upgrades that take time to translate into visible ecosystem activity.
What investors should actually watch is developer uptake after Protocol Version 11 goes live. Multi-signature custody platforms, cross-chain bridge operators, and governance-heavy DeFi protocols are the categories most likely to respond first.
The risk, from an investor standpoint, is timing. May 2026 is still a development milestone on the horizon, and protocol upgrades have historically taken longer than initial projections across the industry. CIP-0133 and Protocol Version 11 are on the roadmap, but the gap between roadmap and mainnet deployment is where uncertainty lives.
Longer term, the accumulation of cryptographic primitives in Plutus, from Schnorr and ECDSA in 2023 to BLS12-381 arriving in 2026, represents a deliberate strategy of building serious infrastructure before optimizing for headline metrics.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Stablecoin giant Tether reportedly invested $20 million in the Argentine neobank Ualá, as part of its broader push in Latin America.
The investment formed part of a $197 million equity funding round announced by Ualá in March and led by Allianz X, according to Bloomberg. Ualá disclosed Tether as a participant in the round at the time but did not reveal the size of its investment.
Cointelegraph contacted Tether for confirmation but had not received a response by publication.
Earlier in July, Tether announced a $20 million investment in Brazilian crypto exchange Mercado Bitcoin to support the expansion of its onchain infrastructure across Latin America.
In April, Tether led a $14 million Series A funding round for the Argentine crypto platform Belo, with participation from Titan Fund, The Venture City, Mindset Ventures, G2 and other existing investors.
Tether issues USDt (USDT), the world’s largest stablecoin, which had a market capitalization of $184.4 billion at the time of writing, according to CoinMarketCap.
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.
Cardano ETF přilákaly více kapitálu než TRON: v roce 2025 zaznamenaly čisté přílivy 37,2 mil. USD a letos dalších více než 6,9 mil. USD. TRON naopak zaznamenal odlivy.
Cardano exchange-traded funds (ETFs) have attracted stronger investor inflows than TRON, underscoring growing institutional confidence in the Cardano ecosystem.
According to data compiled by Blockworks, Cardano-linked ETFs recorded $37.2 million in net inflows during 2025. The momentum has continued into the current year, with the products already attracting over $6.9 million in additional net inflows.
In contrast, investment products tied to TRON experienced substantial capital outflows over the same period. Blockworks data shows that TRON ETFs lost $33.38 million in 2025, while investors withdrew another $17.47 million from TRX-linked funds this year.
The contrasting performance suggests that institutional and professional investors continue allocating capital to Cardano despite broader market volatility.
Cardano and TRON ETFs Cardano ETFs Outperform TRON in AUM and Monthly Flows Cardano’s ETPs currently manage $48.3 million in assets under management (AUM) across eight active investment products. Some of the top offerings include 21Shares Cardano ETP (AADA), WisdomTree Physical Cardano, and Bitwise Physical Cardano ETP (RDAN)
These regulated investment products trade outside the United States, allowing investors in multiple international markets to gain exposure to ADA without directly buying or holding the cryptocurrency.
Moreover, recent investment activity also favors Cardano. Over the past 30 days, the eight Cardano ETPs attracted $1.17 million in fresh capital. Meanwhile, TRON’s exchange-traded investment products brought in just $534,000 during the same period.
The gap also extends to overall assets under management. While Cardano’s eight ETPs oversee $48.3 million in AUM, TRON currently has only two active ETPs with a combined $29 million in AUM.
International Demand Grows Ahead of Potential U.S. ETF The latest inflows have drawn attention across the Cardano community because they originate entirely from markets outside the United States.
Although U.S. investors still lack access to a spot Cardano ETF, Grayscale has already filed an application for one. Market observers expect the U.S. SEC to decide on the proposal later this year.
Current expectations point to a potential decision by October 2026, provided the regulatory timeline remains on schedule. The process gained momentum after CME Group launched Cardano futures in February 2026, triggering the SEC’s six-month regulated market observation period. Once that requirement concludes on August 9, 2026, ADA will satisfy a key eligibility criterion for consideration for spot ETFs.
If the SEC reviews Grayscale’s application under its streamlined 75-day approval framework, the agency could issue a final decision as early as October 23, 2026.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Alchemy spustila pro Stellar RPC endpointy, WebSockets a tři indexovaná Data API pro mainnet i testnet. Vývojářům tím odpadá nutnost provozovat vlastní indexer.
Alchemy Brings Full Infrastructure Stack to StellarAlchemy has gone live with RPC endpoints, WebSockets, and three indexed Data APIs for the Stellar network, covering both mainnet and testnet. The move hands Stellar developers a production-grade infrastructure layer without the overhead of running custom tooling.
The three indexed APIs give developers access to transfer histories, consolidated token balances through a single request, and NFT holdings spanning both traditional Stellar assets and Soroban-based assets. According to Build on Stellar, the APIs merge classic Stellar and Stellar Smart Contract assets into a single response, cutting out a step that has historically added complexity to application development.
Alchemy provides 99.99% uptime with global redundancy, RPC and WebSocket support, and battle-tested infrastructure with SOC 2 Type II certification. Developers can access all of this using the same API key they already use for other chains supported by the platform.
Why It Matters for Stellar BuildersBefore this integration, retrieving a full picture of a user's on-chain activity on Stellar typically required developers to build or maintain a custom indexer, a time-consuming task that pulls resources away from core product work. With Alchemy's Stellar Data API, developers can query indexed Stellar data across native, classic, and Soroban assets, including transfer history, account balances, and NFT holdings, without running their own indexer.
Stellar is a Layer 1 blockchain purpose-built for real-world payments and asset movement, combining high-performance smart contracts, sub-5-second finality, and native access to institutional financial rails. MoneyGram and PayPal integrate directly with Stellar for production settlement and payment flows, and the network currently supports approximately $2 billion in on-chain real-world assets.
The Alchemy integration adds to a growing list of developer tooling arriving on Stellar. SushiSwap V3 launched on Stellar in February 2026, with other key protocols including Blend for lending, Aquarius for AMM liquidity, Upshift for vault infrastructure, and Rails for perpetuals. The arrival of institutional-grade API infrastructure from a provider of Alchemy's scale is likely to lower the barrier further for teams evaluating Stellar as a build target.
Sources
Alchemy: Stellar Support Is Live on Alchemy
Alchemy Docs: Stellar Data API Overview
Stellar přidala do Tier 1 validátorů MoneyGram, Figure a Range, čímž posílila decentralizaci i odolnost sítě. Počet validátorů v síti Stellar od konce roku vzrostl o 13 %.
Three Industry Names Join Stellar's Validator CoreThe Stellar Development Foundation (@StellarOrg) has added three new organizations to its Tier 1 validator set: @MoneyGram, @Figure, and @range_org. The additions bring together institutions spanning global money movement, capital markets, and blockchain security infrastructure, deepening the network's decentralization at its most consequential layer.
Tier 1 organizations bear the safety and liveness of the Stellar network, meaning most other validators on the network require agreement from them to commit to a new ledger. The role is not self-appointed. To become a Tier 1 organization, a team must convince enough other organizations to trust them. Each Tier 1 member is also required to run three geographically dispersed full validators to ensure redundancy in the event that one node goes offline.
The new entrants bring real-world institutional weight. @MoneyGram has long been embedded in Stellar's payments ecosystem, using the network to process cross-border remittances. MGUSD, its dollar-pegged stablecoin issued via Stripe's Bridge, connects digital dollars to roughly 500,000 physical cash locations in MoneyGram's global remittance network. @Figure is a fintech firm active in capital markets, issuing YLDS, a yield-bearing dollar asset, on the Stellar network. @range_org adds blockchain security infrastructure expertise to the group.
Why the Expansion Matters for $XLMThe move is part of a broader push by SDF to raise the number of Tier 1 organizations and improve the network's fault tolerance. Since April 2025, there had been seven Tier 1 organizations, each operating three full validators, including Blockdaemon, Creit Technologies, Franklin Templeton, LOBSTR, Public Node, SatoshiPay, and SDF. Adding three more organizations meaningfully expands the quorum and reduces the risk of a network halt caused by a small number of participants going dark.
Tier 1 organizations bear the safety and liveness of the Stellar network on their shoulders. That accountability is also what makes them attractive to institutions. Under the Stellar Consensus Protocol, there are no monetary rewards for validators, who operate the network via Proof-of-Agreement through a system of federated voting. Validators participate because they have a direct operational stake in the network's health, not because they earn block rewards.
SDF has emphasised that its approach to decentralization is not about maximizing node count, but fostering trust, mission alignment, and resilience in real-world scenarios. The profiles of @MoneyGram, @Figure, and @range_org reflect exactly that philosophy: each has an active business reason to want Stellar running reliably.
Validator nodes on Stellar increased 13% since year-end, and the latest additions signal that institutional participation in network infrastructure is accelerating alongside growing stablecoin and asset issuance activity on the chain.
Sources:
Stellar Docs: Tier 1 Organizations
Stellar Development Foundation: Q1 2026 Network Update
Messari: State of Stellar Q1 2026
Zama uvedla, že její důvěrný vault pro USDC na Morpho dosáhl 23,23 milionu USD a je osmý mezi USDC vaulty Morpho V1 i V2 na Ethereum. Vault skrývá zůstatky i vklady pomocí šifrování.
Zama says a lending vault that accepts only confidential USDC has grown into one of the largest USDC vaults on Morpho’s Ethereum deployment, weeks after opening to depositors.
Summary
Zama says confidential USDC deposits reached $23.23 million, ranking eighth among Ethereum Morpho USDC vaults. The vault lets users earn DeFi yield while keeping individual balances and deposit positions encrypted. Morpho’s growing institutional use shows privacy tools are entering established onchain lending infrastructure at scale. According to a July 16 post from Zama, the Steakhouse Confidential Prime USDC vault held $23.23 million at Ethereum block 25,544,806. The company said that placed it eighth by total deposits among Morpho V1 and V2 USDC vaults on Ethereum. The ranking and deposit figure reflect Zama’s stated snapshot and can change as users deposit or withdraw funds.
Confidential USDC moves into established DeFi infrastructure The Steakhouse Confidential Prime USDC vault opened on June 23. Steakhouse Financial curates the strategy, Morpho provides the lending infrastructure, and Zama supplies the confidentiality technology.
Users deposit confidential USDC, or cUSDC, rather than standard USDC. Zama uses Fully Homomorphic Encryption to keep individual balances and transaction amounts encrypted while allowing the assets to interact with applications on Ethereum. Deposits ultimately enter a strategy using Morpho lending markets backed by collateral including cbBTC, WBTC and wstETH.
Zama points to $23.23M TVL as a demand signal Zama described the vault’s growth as evidence that users are willing to place capital into confidential financial infrastructure. The company said “capital is ready to flow through confidential rails,” while acknowledging that an ongoing incentive program has also helped attract deposits.
The vault launched with a 12-week reward program on top of the yield generated by its underlying Morpho strategy. Zama said the native strategy was producing about 4% when the product launched, while additional incentives rewarded early depositors. The company had reported more than $14 million deposited by July 2, before the total reached the $23.23 million figure reported on July 16.
Morpho attracts more institutional-style vault products The confidential vault arrives as Morpho attracts asset managers, wallets and professional curators. Bitwise launched its first onchain vault on Morpho in January, targeting stablecoin lending through a non-custodial structure.
Morpho has also expanded through consumer wallet integrations. As reported by crypto.news, Trezor added access to Steakhouse-curated USDC and USDT vaults in May. Those developments place Zama’s product within an existing lending market rather than requiring users to move liquidity to a separate blockchain.
Confidential finance still faces compliance questions Zama’s confidential USDC system has already faced a test involving the underlying stablecoin. In May, a US court order led Circle to temporarily freeze a Zama contract holding about $12.5 million in USDC. The order was later lifted, and Zama said the funds returned to normal operation.
As previously reported, the episode prompted Zama to accelerate work on compliance and controlled disclosure tools. The company says its system encrypts transaction details rather than making users anonymous and plans tools that can respond to legal and regulatory requirements.
Zama argues that its cross-chain confidentiality model can add privacy where liquidity already exists instead of requiring a new Layer 1 or Layer 2. The $23.23 million vault provides an early test of that approach, although continued deposits after the incentive program ends will offer a clearer measure of lasting demand.
Fireblocks integroval Circle Gateway, takže institucionální klienti získají jednotný zůstatek USDC napříč blockchainy. Po oznámení akcie Circle (CRCL) vzrostly o 17 %.
Fireblocks and Circle just made moving USDC across blockchains feel less like navigating a maze and more like sending a text. The two companies announced a strategic collaboration on September 9, integrating Circle Gateway directly into the Fireblocks platform to give institutional users a single, unified USDC balance that works across chains in under 500 milliseconds.
What the integration actually does Circle Gateway, now embedded in Fireblocks, provides customers with real-time, unified balances for USDC and EURC across supported blockchains. No separate chain-specific setups required.
For institutional players, this is more than a convenience upgrade. Pre-positioning capital across multiple chains ties up liquidity that could be deployed elsewhere. Eliminating that requirement frees up working capital and reduces the operational overhead that has kept some traditional finance firms from going deeper into digital assets.
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The integration builds on an earlier April 2025 connection between Fireblocks and Circle’s Payments Network, known as CPN, which established the interoperability backbone that makes this latest move possible.
Circle’s Arc and the institutional play The collaboration goes beyond Gateway. Fireblocks is a Day 1 launch partner for Circle’s Arc, an enterprise-grade Layer-1 blockchain designed specifically for stablecoin finance. Arc is built to handle the compliance and security requirements that banks and asset managers demand before they’ll touch crypto infrastructure.
By combining Fireblocks’ custody and transaction infrastructure, which has secured over $10 trillion in digital asset transactions across more than 120 blockchains, with Circle’s stablecoin ecosystem, the two companies are constructing what amounts to a turnkey institutional stablecoin stack.
Market reaction and what investors should watch The market’s verdict was swift and decisive. Circle’s stock, trading under the ticker CRCL, jumped 17% following the announcement.
In a market where Tether’s USDT has historically dominated by sheer volume, this kind of distribution advantage through institutional infrastructure could meaningfully shift the competitive landscape. USDC doesn’t need to overtake USDT in total supply if it becomes the default stablecoin embedded in every major institutional platform.
The risk side of the equation matters too. Concentration of institutional stablecoin activity within a single integration stack creates dependency. If Fireblocks or Circle experiences technical issues, compliance setbacks, or regulatory changes, institutions using this unified balance system could face disruptions that wouldn’t affect those with diversified stablecoin strategies.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Zcash (ZEC), a privacy-focused cryptocurrency, has delivered robust gains over the past three weeks. ZEC’s price climbed from late June lows of $368 to approximately $552 on Tuesday, representing a 56% rally. According to CoinGecko, ZEC jumped 11% in a single trading session and has now returned to levels last seen several months ago.
Technical breakout and resistance levelsTraders observed ZEC clearing two crucial resistance zones at $500 and $560. With these levels surpassed, attention has shifted to the $644 resistance, which now forms the central barrier confronting bullish momentum in the four-hour time frame. Market participants noted that a move above $644 would reinforce ZEC’s short-term bullish reversal, paving the way for further upside targets at $690 and $750.
In the latest session on Wednesday, July 15, ZEC advanced another 1.6%, consolidating near $566 at the upper Bollinger Band. The middle band currently sits at $464. The Chaikin Money Flow, a technical indicator tracking buying pressure, has held above +0.05 for the past three sessions, suggesting persistent accumulation by market participants.
On the daily chart, the Relative Strength Index reads around 62, above its moving average but below the overbought threshold at 70, indicating room for further upward momentum.
Key LevelStatus$368Late June low$500Broken resistance$560Broken resistance$644Current resistance$675-$680Next channel target$690Potential next target$750Potential next targetIronwood upgrade and security enhancementsMuch of the recent optimism stems from the imminent Ironwood shielded pool upgrade, scheduled to launch on the mainnet around July 28. This update aims to reinforce Zcash’s privacy and security infrastructure following the public disclosure in early June of a long-standing counterfeiting vulnerability within the Orchard shielded pool—an essential feature protecting user transactions from public view.
Project Tachyon, together with Zcash’s core development teams, continues to finalize mathematical proofs to ensure the Ironwood upgrade resolves these flaws without introducing new vulnerabilities. Community updates have highlighted successful progress, with all consensus rule changes implemented and extensive code audits underway.
Project developers reported that all Ironwood upgrade consensus rules have been implemented and are undergoing comprehensive audits, with technical specifications approaching finalization.
The legacy Zcashd full-node client will be deprecated on July 18, urging node operators to migrate to the updated Zebra implementation to ensure full network compatibility.
Mini dictionary: Zebra is Zcash’s new official consensus node software, built to provide secure and stable full-node functionality and replace the older Zcashd client. It is developed by the Zcash Foundation to improve network performance and security.
Rising open interest and macro driversBeyond technical elements, broader market conditions have also contributed to ZEC’s rally. The US Consumer Price Index in June came in at 3.5%, softer than the anticipated 3.8%, reducing expectations for further Federal Reserve rate hikes. This macro development boosted demand for risk assets, helping Bitcoin rise from $62,000 to above $64,000 and supporting a positive environment for alternative coins like Zcash.
Futures data shows open interest in ZEC contracts briefly topping $750 million, a surge of more than 12% in just 24 hours. Such increased activity reflects a notable shift in trader sentiment and risk appetite. Analyst Ali Charts spotlighted $675-$680 as the next major technical zone to watch, describing sustained buying pressure throughout July.
Analyst Ali Charts identified $675-$680 as the pivotal channel boundary for ZEC’s ongoing uptrend and noted that ZEC continues to climb on persistent momentum.
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.
Americký Senát jednomyslně přijal rezoluci, podle níž zakladatel FTX Sam Bankman-Fried nesmí dostat prezidentskou milost ani zmírnění trestu. Bankman-Fried byl v roce 2023 odsouzen za sedm bodů souvisejících s kolapsem FTX a ztrátou více než 8 miliard USD klientských prostředků.
The Senate unanimously approved a resolution declaring that FTX founder Sam Bankman-Fried should under no circumstances receive a presidential pardon or commutation.The bipartisan measure, led by Senators Cynthia Lummis of Wyoming and Ruben Gallego of Arizona, underscores lawmakers’ view of Bankman-Fried’s role in what prosecutors called one of the largest financial frauds in U.S. history.Bankman-Fried, convicted in 2023 on seven counts related to FTX’s collapse and the loss of more than $8 billion in customer funds, is not eligible for release until around 2044, and former President Donald Trump has said he has no plans to pardon him.The Senate agreed Wednesday that Sam Bankman-Fried should never receive clemency, passing a resolution that states the FTX founder should "under no circumstances" get a pardon or commutation.
It passed by unanimous consent, a procedure that clears as a measure if not a single senator objects to it.
Senators Cynthia Lummis, a Wyoming Republican, and Ruben Gallego, an Arizona Democrat, serve as the Senate Banking Committee's digital assets subcommittee's top Republican and Democrat, respectively.
Lummis is the crypto industry's most committed advocate in Congress and has spent years writing the legislation the industry wants. She has led the effort to keep one of its most infamous figures behind bars.
"He had his day in court," Lummis said when the pair introduced the measure on June 17. Gallego's statement ended with four words: "Keep him locked up."
Bankman-Fried is not eligible for release until around 2044. A jury convicted him in November 2023 on seven counts tied to the collapse of FTX, which prosecutors called one of the largest financial frauds in U.S. history, with American customers losing more than $8 billion.
President Donald Trump said in January he had no plans to pardon Bankman-Fried. He has cleared Binance founder Changpeng Zhao and Silk Road creator Ross Ulbricht, along with other white-collar offenders.
Bankman-Fried ran two companies at once. FTX was a crypto exchange, which holds customer money the way a broker does and is not supposed to touch it. Alameda Research was a trading firm he also owned. He moved billions of dollars in FTX customer deposits to Alameda, which spent the money on trades, venture investments, political donations, and Bahamian real estate, while FTX's software exempted Alameda from the rules that would have forced it to cover its losses like any other trader.
The facade was blown open after CoinDesk obtained Alameda's balance sheet in November 2022 and found that most of what the firm counted as assets was FTT – a token FTX had created itself and could issue at will.
The collateral propping up Alameda was, in effect, something its sister company had invented. Further cracks emerged after the prominent exchange Binance said, days later, it would sell its FTT holdings, leading to a rapid collapse in FTT prices.
Customers rushed to pull their deposits, and FTX could not return the money because it was no longer there. The exchange filed for bankruptcy on Nov. 11, 2022, just over a week after the story ran.
Aave DAO navrhuje mobilní aplikaci, která spojí fiat vklady, self-custody a DeFi lending v jednom rozhraní. Po převodu na stablecoiny by prostředky automaticky mířily do Stable Vaults přes Aave.
Aave DAO has just crossed a historic milestone by offering a consumer app integrating fiat, self-custody and DeFi lending. A breakthrough that could shake up the crypto ecosystem, by providing a simple, secure and decentralized alternative to giants like Binance. Is the platform war declared?
In brief Aave App could soon see the light of day on Aave DAO’s proposal, merging fiat and DeFi for a simplified user experience. A direct challenge to Binance with superior yields and total decentralization. MiCA and regulators could limit its expansion in Europe and the United States. Aave DAO Provides Fiat, Self-Custody, and DeFi Lending in a Single Crypto App Aave DAO has officially presented its proposal for an all-in-one mobile application, designed to democratize DeFi by combining fiat on-ramp, self-custody and lending. A first in the crypto ecosystem, addressing a pressing need: making decentralized finance accessible to the general public. With Aave Push as a regulated partner, users will be able to deposit currencies directly from their bank accounts, without going through centralized exchanges.
Once the funds are converted into stablecoins (USDC, USDT, GHO), they are automatically allocated to Stable Vaults, generating returns via the Aave protocol. All without an external wallet. This is possible thanks to ERC-6900 smart accounts secured by multiple audits (Certora, ChainSecurity, etc.). But the real game-changer? Balance Protection, a DeFi insurance covering losses linked to security breaches or technical bugs. A direct response to crypto users’ fears after recent exploits (Kelp DAO, rsETH).
If Aave App Comes to Life, what About MiCA in Europe? The likely arrival of the Aave App raises a crucial question: how will it adapt to MiCA in Europe? Effective in 2024, it imposes strict obligations on crypto service providers, notably regarding KYC, transparency and stablecoin stability. With its fiat integration via Aave Push, the app will have to comply with AML (anti-money laundering) requirements and obtain specific licenses in each European country.
Moreover, additional tightening could limit its operation or force Aave to adapt its model. In the United States, for example, the SEC and FinCEN could also impose restrictions on fiat on-ramps, as they have done for Kraken or Coinbase. Will the Aave App then have to sacrifice its decentralization to survive?
The Aave App could launch and transform DeFi. But its success will depend on its adaptation to regulations like MiCA. Between innovation and compliance, the challenge is significant. And you, would you trust a 100% decentralized app against centralized crypto giants?
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Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Two names are dominating the DeFi leaderboard right now, and neither of them is Ethereum, Solana, or Arbitrum. Stable, a blockchain most people haven’t heard of, posted the highest 30-day TVL growth of any chain tracked by DefiLlama. Meanwhile, Monad’s total value locked surged to $621 million, fueled largely by Aave’s decision to set up shop on the high-throughput Layer 1.
Stable’s quiet breakout Stable’s 30-day TVL growth clocked in at approximately 19.70%, enough to lead every blockchain on DefiLlama’s rankings. In absolute terms, the numbers are still modest: a DeFi TVL of around $33 million and a bridged TVL exceeding $129 million.
The gap between Stable’s DeFi TVL and its bridged TVL is worth noting. A bridged TVL of $129 million against $33 million in active DeFi usage suggests a significant amount of capital is parked on the chain but not yet deployed into protocols.
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Monad’s Aave-fueled surge Monad’s story is louder and more capital-intensive. The EVM-compatible Layer 1, which has positioned itself around high throughput and parallel execution, saw its TVL reach $621 million according to the latest figures. The catalyst was clear: Aave V3 launched on Monad on July 2, 2026.
The lending giant’s arrival wasn’t subtle. The Aave market on Monad attracted $83.5 million in deposits on its first day. Within 48 hours, that figure crossed $100 million. The Monad Foundation helped grease the wheels with $15 million in incentives for early adopters.
Aave V3 on Monad supports 12 assets, including major stablecoins like USDT and USDC, along with WETH, cbBTC, and Aave’s native stablecoin GHO.
On-chain data showed that initial utilization in the Aave Monad market sat around 38%, meaning roughly half of the deposits weren’t being actively borrowed against. One asset, syrupUSDC, accounted for about 43% of the total TVL in the Aave Monad market.
The growth trajectory Monad’s TVL trajectory has been steep even before Aave entered the picture. The chain went from roughly $80 million in TVL back in November 2025 to over $400 million by April 2026. The Aave deployment then pushed it to its current level of $621 million.
What this means for investors For Monad specifically, the 38% utilization rate is the number to watch. Healthy lending markets typically see utilization between 40% and 80% depending on the asset. If borrowing demand picks up as more protocols deploy on Monad, the ecosystem starts to look sustainable. If utilization stays low and syrupUSDC continues to dominate the deposit base, the $621 million TVL figure might be more fragile than it appears.
Stable presents a different risk profile. A $33 million DeFi TVL means the chain is early, possibly very early. Early-stage chains offer outsized growth potential but come with thinner liquidity, fewer audited protocols, and higher smart contract risk. The 19.70% monthly growth rate is impressive on a percentage basis, but it doesn’t take much capital movement to shift the numbers at that scale.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
ETRADE, a subsidiary of Morgan Stanley, has completed its rollout of spot services for Bitcoin, Ethereum, and Solana, enabling eligible clients to buy, sell, and hold these cryptocurrencies directly within their brokerage accounts. The service, which comes with a transaction fee of 50 basis points, marks a significant integration of traditional finance with the crypto market. This offering positions ETRADE competitively against other major platforms like Charles Schwab and Coinbase, which have higher fees. While the platform currently does not support transfers to external wallets, such functionality is expected to be added later this year.
Market participants appear to have responded positively to this development, particularly regarding the potential impact on Solana. The move may indicate increased demand and activity, contributing to market expectations of Solana’s price movement. Notably, this development coincides with a broader trend of traditional financial institutions embracing cryptocurrencies, potentially sparking a competitive environment around retail crypto fees.
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The introduction of spot access for these cryptocurrencies by a major financial institution like Morgan Stanley’s E*TRADE suggests increased mainstream acceptance and integration of digital assets. The market’s reaction appears consistent with scenarios where Solana could see heightened demand and volume.
Key Takeaways E*TRADE’s rollout of spot access for cryptocurrencies appears consistent with increased mainstream acceptance of digital assets. Market pricing suggests participants view this as supportive of increased Solana demand, potentially impacting its price. The competitive fee structure could lead to a broader retail crypto fee competition among traditional financial platforms. What to Watch Watch for potential announcements regarding the implementation of external wallet transfers, which could further influence market dynamics. Additionally, observe any strategic responses from competitors like Charles Schwab and Coinbase that may impact fee structures and market share. Solana’s price movements in the coming weeks will provide further insight into the market’s reaction to this integration, particularly if demand and volume increase as expected.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 11.5% — — View market → August 1 2026 0.4% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.4% — — View market → August 1 2026 1% — — View market → August 1 2026 0.9% — — View market → August 1 2026 3.8% — — View market → August 1 2026 0.5% — — View market → August 1 2026 8.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.2% — — View market → August 1 2026 0.1% — — View market → August 1 2026 40.5% — — View market →
DeltaDeFi, první DEX na Cardanu poháněný Hydra, okamžitě pozastavil provoz kvůli vyčerpání provozní rezervy. Tým chce později vrátit zbývající prostředky uživatelům.
The Cardano ecosystem has suffered another setback after a decentralized exchange powered by Hydra announced that it is suspending operations indefinitely due to operational constraints.
DeltaDeFi, the first Hydra Layer 2-powered DEX on Cardano, confirmed the decision in an operational update. The announcement has reignited concerns across the Cardano community, with many viewing it as the latest addition to a growing list of ecosystem projects that have either shut down or reduced operations in recent months.
DeltaDeFi Suspends Development and Maintenance In an update shared with its community, the DeltaDeFi team revealed that it had exhausted its operational runway. This left it with no choice but to pause the project effectively immediately.
As a result, the team will suspend both platform development and active maintenance until further notice. During the downtime, the developers plan to evaluate strategies that could enable the project to resume operations in the future.
Meanwhile, DeltaDeFi announced plans to return its remaining funds to users once sufficient minimum UTXO becomes available to process withdrawals. The team also advised users who do not automatically receive their funds to contact the developers through the project’s X account or Discord server for assistance.
How DeltaDeFi Advanced Cardano’s Hydra Ecosystem DeltaDeFi stands out from many decentralized exchanges by building on Hydra, Cardano’s Layer-2 scaling solution designed to increase transaction throughput while reducing settlement times.
Unlike most Cardano DEXs that rely primarily on automated market makers (AMMs), DeltaDeFi adopted an order-book-based trading model. This approach delivered a trading experience closer to traditional financial markets while preserving the benefits of decentralized infrastructure.
The platform promoted features such as sub-second transaction settlement, high-speed order execution, and improved trading efficiency through Hydra’s scaling capabilities. With the project’s suspension, Cardano loses one of its most prominent real-world demonstrations of Hydra’s decentralized finance (DeFi) potential.
It bears mentioning that Hydra recently introduced v2.2.0, focused on real-world use cases, enhanced benchmarking, and optimized snapshot latency.
Another Challenge for Cardano Builders DeltaDeFi’s decision adds to a growing list of Cardano projects that have recently scaled back operations or exited the ecosystem altogether. Projects including JPG Store, TapTools, and contributors such as Chicken have previously cited challenges ranging from rising operational expenses and limited funding to long-term developer sustainability.
Although each project has faced its own circumstances, several common themes have emerged. These include shrinking funding opportunities, increasing operating costs, prolonged market weakness, and ongoing ecosystem governance challenges.
DeltaDeFi’s operational pause reinforces concerns that even technically innovative projects on Cardano continue to face significant sustainability hurdles despite ongoing protocol upgrades and ecosystem development.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
Ondo Finance spustila první tokenizované akciové reprezentace kryté DTC tokenized entitlements a připojila se k tokenizační iniciativě DTCC. ONDO za posledních 24 hodin vzrostlo o 5,6 %.
Ondo Finance [ONDO] announced the launch of the first tokenized stock representations backed by DTC tokenized entitlements. Through this initiative, Ondo Finance joins a host of other TradFi giants, including BlackRock, J.P. Morgan, and Goldman Sachs, in participating in “DTCC’s largest tokenization initiative to date”.
Source: Ondo Finance on X Ian de Bode, CEO of Ondo Finance, said
Ondo is the only company simultaneously building all pathways for US securities tokenization. Today’s initiative with DTCC demonstrates that Ondo Stocks infrastructure is purpose-built to interoperate with institutional market infrastructure, not to compete with it.
The announcement has helped bolster the bullish sentiment around the decentralized finance platform and its native token, ONDO. The altcoin has rallied 5.6% in the past 24 hours, with an uptick of 51.7% to its daily trading volume.
The triangle pattern and an impending ONDO breakout Source: ONDO/USDT on TradingView The descending triangle pattern [green] came amid ONDO’s inability to flip the long-term bearish swing structure bullishly. The $0.47 swing high was tested but not convincingly breached.
As things stand, the bearish long-term outlook for the altcoin remains intact.
Yet, the descending triangle could change things around. The $0.31 zone has been defended since June. At the time of writing, the $0.336 local resistance zone has kept bulls from taking prices higher.
Neither the CMF nor the OBV signaled steady buying pressure on the altcoin. Unless proven otherwise, it would be prudent for ONDO swing traders to be cautious of a bullish outcome.
Traders’ call to action- Buy if… Source: ONDO/USDT on TradingView The H4 swing structure was also bearish. The local resistance zone coincided with the 50% retracement level at $0.343. This divided the premium and discount areas for swing traders.
A bullish breakout from the descending triangle pattern could still face rejection from the discount area overhead and be unable to climb past $0.372 and $0.394 resistances.
It would be best for traders and investors to wait for the market to show its hand. Trying to go long right now has its risks.
Final Summary News of Ondo’s launch of its first tokenized stock representations based on DTCC tokenized entitlements has buoyed market confidence. Volume trends and overarching price action drew question marks over the token’s ability to rally to $0.40 or higher.
Hyperion DeFi alokuje 500 000 staked HYPE do Skew Technologies, aby podpořila spuštění perpetual futures na Hyperliquid. Za to získá podíl ve Skew a část výnosů ze služeb spojených s listingem.
Hyperion DeFi, the NASDAQ-listed company trading under HYPD, is putting 500,000 staked HYPE tokens to work. The tokens are being deployed to Skew Technologies through a HYPE Asset Use Service (HAUS) agreement, giving Skew the economic backing it needs to launch perpetual futures markets on Hyperliquid’s HIP-3 permissionless infrastructure.
In return, Hyperion gets equity ownership in Skew plus a cut of the revenues generated from listing services. The revenue share has both fixed and scaling components, meaning Hyperion earns a baseline regardless of how much volume Skew’s new markets attract, while also participating in the upside if trading activity takes off.
How the deal actually works HIP-3, which went live on October 13, 2025, requires anyone deploying a new market to maintain 500,000 staked HYPE as what’s called “alignment capital.” That’s a meaningful barrier to entry, designed to ensure deployers have real skin in the game and face slashing risks if they misbehave.
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Through the HAUS agreement, effective July 15, 2026, Hyperion essentially lends its staked position to Skew, which can then spin up new HIP-3 perpetual futures markets without needing to source and lock up half a million HYPE tokens on its own.
Skew’s initial focus will be on perpetual futures through HIP-3, with plans to eventually expand into outcome-based markets under HIP-4 once the core perps business reaches operational stability.
Why Hyperion is betting big on infrastructure Hyperion DeFi holds the distinction of being the first US publicly listed company built around the Hyperliquid ecosystem. Hyperion CEO Hyunsu Jung has pointed to growing global demand for HIP-3 launches as a key driver behind the company’s HAUS strategy.
This isn’t Hyperion’s first HAUS agreement. The company previously partnered with Felix Foundation in late 2025 under a similar arrangement. Recent reports also indicate Hyperion has been unwinding some of its other HYPE deployment deals.
What Skew brings to the table Skew Technologies is founded by a team with experience in financial markets and institutional trading. David Gil, Skew’s founder, has framed this partnership as a foundation for innovative institutional trading products, suggesting the company sees HIP-3 as a launchpad rather than an endpoint.
What this means for investors For Hyperion shareholders, each HAUS agreement transforms staked tokens into equity positions and revenue streams. The fixed component of the revenue share provides downside protection, while the scaling component offers leverage to trading volume growth.
The risk side of the equation centers on slashing. HIP-3’s alignment capital is actively at risk. If a market operator behaves badly or a technical failure triggers slashing conditions, Hyperion could lose a substantial portion of its deployed capital.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ethereum se blíží k rezistence 2 000 USD, zatímco americké spotové ETF přilákaly denní čisté přílivy ve výši 58,34 milionu USD a jejich čistá aktiva přesáhla 10 miliard USD.
Ethereum is approaching a key technical threshold, with its price edging near the $2,000 level amid renewed institutional interest and increased network activity.
Spot ETFs and Institutional DemandAt the latest reading, Ethereum changed hands at $1,920.11, registering a 1.49% gain over the past 24 hours. The modest uptick is attributed to fresh investments flowing into spot Ethereum exchange-traded funds (ETFs) and consistently stable trading activity.
SoSoValue reported that U.S. spot Ethereum ETFs attracted $58.34 million in daily net inflows, growing total net assets above $10 billion. Persistent inflows from large-scale investors typically reflect improving sentiment and greater market liquidity.
Analysts assess that a single day of strong inflows may not mark the beginning of a sustained trend, but ongoing institutional interest could provide stronger support for further price recovery.
MetricValueETH Price$1,920.1124h Change+1.49%ETF Daily Net Inflows$58.34 millionTotal ETF Net AssetsAbove $10 billionTechnical Analysis and Key LevelsEthereum faces its next technical test just below the $1,930–$2,000 resistance zone, a region where previous attempts to rally have lost steam. Market observers suggest that a confirmed close above this band could reinforce a bullish outlook. In contrast, renewed selling may keep ETH in its longer-term trading range.
Technical signals have improved recently, with the Moving Average Convergence Divergence (MACD) staying in positive territory and its main line holding above the signal line, hinting at growing upward momentum.
Trading volumes have also increased as the price recovered, reflecting firmer buyer participation. Buyers have been actively defending the $1,874 support zone, which remains an important threshold if the trend weakens.
A breakout beyond $2,000, especially if fueled by sustained trading volume, could provide more definitive proof that buyers are commanding the market.
Mini dictionary: MACD (Moving Average Convergence Divergence), a momentum indicator used in technical analysis to identify trend changes and the strength of price movements.
On-chain Activity and Market SentimentAccording to DefiLlama, Ethereum’s Total Value Locked (TVL) remains near recent highs, and active addresses are at elevated levels. Steady on-chain participation suggests users are engaging with the network, even amid recent market fluctuations.
Sustained user activity is often seen as a positive long-term signal, reinforcing fundamentals beyond short-term speculation.
Market analyst Ted Pillows commented on Ethereum’s technical setup, emphasizing that the “real test of $ETH will now start.” Pillows explained that since August 2025, Ethereum has often formed local tops within a few days after its daily Relative Strength Index (RSI) moved above 65. If ETH consolidates instead of reversing sharply, it could point to a potential shift in market behavior, not seen since April 2025.
Since August 2025, Ethereum has consistently peaked shortly after the daily RSI crossed above 65. If ETH price manages to consolidate as the RSI resets, it would mark the first major reversal signal since April 2025.
Outlook and Key TriggersMarket participants are closely checking whether Ethereum will break above the psychologically significant $2,000 threshold or face sellers at resistance once again. A successful push higher may encourage renewed bullish momentum and attract further investment. Conversely, a dip below the $1,874 support could put pressure back on buyers and increase the chance of another pullback.
Ethereum’s price action in the coming days may determine the near-term direction for both technical traders and longer-term investors.
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.
Americké spotové Bitcoin ETF ve středu přilákaly čistý příliv 107,8 milionu USD a etherové fondy 53,8 milionu USD. Kumulativní čisté přílivy do Bitcoin ETF už přesáhly 51 miliard USD.
US spot Bitcoin ETFs attracted $107.8 million in net inflows on Wednesday, while their Ethereum counterparts pulled in $53.8 million.
The numbers in context Earlier in July, Bitcoin ETFs pulled in $181.1 million on a single day, July 14. So Wednesday’s figure represents a moderation from that pace, though still firmly positive.
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Cumulative net inflows into US spot Bitcoin ETFs have now surpassed $51 billion since their January 2024 launch.
At $53.8 million, Wednesday’s ether ETF inflows represented roughly half the Bitcoin figure. Ether ETFs launched several months after their Bitcoin predecessors.
Recovery from a rocky start to the year Earlier in 2026, both Bitcoin and ether ETFs experienced multi-week outflow streaks. The summer months have brought a clear reversal, with funds flowing back into both product categories.
BlackRock, Fidelity, and Grayscale have continued to attract the lion’s share of flows.
What this means for investors When the SEC approved spot Bitcoin ETFs in January 2024, the optimistic projections called for maybe $10 billion in the first year. The actual numbers have blown past even the most bullish forecasts, with cumulative net inflows now exceeding $51 billion.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Arthur Hayes koupil 1 293 ETH za zhruba 2,48 milionu USD a jeho denní akumulace přesáhla 1 900 ETH. Současně tři nové peněženky vybraly z Coinbase Prime 30 000 ETH.
Hayes Adds to ETH Position as On-Chain Activity Picks UpBitMEX co-founder Arthur Hayes (@CryptoHayes) purchased 1,293 $ETH worth approximately $2.48 million on July 16, according to on-chain tracker Lookonchain. The buy brought his total accumulation on the day to more than 1,900 ETH. The transaction was routed through OTC desks, with Lookonchain noting that Hayes had earlier sent $1.25 million in USDC to Galaxy Digital (@galaxyhq) in exchange for 646 ETH, while a separate $1.25 million USDC transfer was sent to FalconX (@FalconXGlobal), likely for another over-the-counter deal.
The purchase marks a continued return to Ethereum for Hayes. The latest buys follow his sale of 6,000 ETH at a loss of around $606,000 in June. Hayes, the outspoken co-founder of derivatives exchange BitMEX, has been vocally bullish on Ethereum's long-term trajectory, arguing the asset is positioned to benefit from expanding macro liquidity and its central role in facilitating collateral across the decentralized finance landscape.
Three New Wallets Pull 30,000 ETH From Coinbase PrimeThe Hayes purchase coincides with broader whale activity in the Ethereum market. According to Lookonchain, three newly created wallets withdrew 30,000 $ETH worth approximately $57.66 million from Coinbase Prime in the hours preceding the Hayes buy. The new wallets receiving the ETH showed no outgoing transactions, suggesting a holding or accumulation strategy rather than an immediate sale.
Coinbase Prime, the institutional trading platform of Coinbase, is commonly used by large investors, hedge funds, and corporate treasuries for secure custody and trading. Withdrawals from the platform to fresh wallets are generally read by market participants as a bullish signal, as they reduce the supply of tokens readily available on exchanges. Recent data showed Ethereum's exchange supply ratio declining to 0.129, a level last seen in 2016, indicating that more ETH is moving away from centralized exchanges.
The accumulation activity extends beyond Hayes and the three new wallets. Amid extended sideways price movement, a separate whale withdrew 30,010 ETH worth $52.84 million from Coinbase Prime, while Lookonchain reported two additional buyers: one new wallet pulled 8,239 ETH worth $14.5 million from multiple exchanges and another purchased 11,843 ETH worth $20.8 million. Whether sustained demand at this scale can produce a durable price recovery for Ethereum remains to be seen, but the concentration of large-wallet buying in a short window is drawing attention across the market.
Sources:
AMBCrypto: Ethereum Whale Accumulation Data
Yellow.com: Ethereum Whales Pull 87,083 ETH From Exchanges
Bitcoin.com News: Ethereum Whales Load Up
Hedera po exploitu Bonzo Lend ztratila během 24 hodin téměř 40 % TVL, když útočník zneužil chybu v oracle a odčerpal 9,05 mil. USD. Ve stejném týdnu ale Lloyds Banking Group, Aberdeen Investments a Archax dokončily na Hedeře první britskou FX transakci s tokenizovanými aktivy jako kolaterálem.
Hedera has had a genuinely split week. On one side, an oracle exploit drained $9.05 million from the network’s largest DeFi lending protocol and wiped out nearly 40% of Hedera’s total value locked in a single day. On the other, Lloyds Banking Group, Aberdeen Investments, and Archax completed the UK’s first foreign exchange transaction using tokenized real-world assets as collateral on Hedera — a genuine institutional milestone that landed in an HM Treasury-backed report the same week. Here’s what’s actually happening with HBAR right now, and why the network’s enterprise-heavy governance model makes this kind of split story more common than it is for most Layer 1 networks.
Key Takeaways Bonzo Lend, Hedera’s largest DeFi lending protocol, lost approximately $9.05 million on July 11 after an attacker exploited a verification flaw in a third-party Supra oracle, manipulating the price of SAUCE tokens to borrow far more than their collateral supported Hedera’s total value locked fell nearly 40% within 24 hours of the exploit, with Bonzo’s own TVL plummeting 77%; Hedera’s network-wide TVL now sits around $25.7 million HBAR fell to around $0.067-0.069 following the exploit, down roughly 71% over the past year and about 88% below its September 2021 all-time high of $0.5692 Days later, Lloyds Banking Group, Aberdeen Investments, and Archax completed the UK’s first FX transaction using tokenized real-world assets as collateral on the Hedera network, featured in an HM Treasury-backed Wholesale Digital Markets Champion report The Hedera Council — the network’s enterprise governing body — has grown to roughly 31-32 members including Google, IBM, Boeing, FedEx, Deutsche Telekom, and McLaren Racing, each operating a network validator node The Canary Capital HBAR spot ETF (HBR) has attracted cumulative inflows of roughly $93 million since launch, with net assets around $49 million, following the SEC and CFTC’s March 2026 classification of HBAR as a digital commodity What Happened in the Bonzo Lend Exploit How the Attack Worked According to Bonzo’s official incident report, the exploit began around 00:51 UTC on July 11, 2026, when an attacker deposited just 250 SAUCE tokens — worth only a few dollars — and submitted a manipulated price update to an on-demand oracle contract. The false update inflated SAUCE’s value by roughly 12 orders of magnitude, and critically, the oracle verifier accepted the update even though it carried a zeroed signature rather than a valid signature from the authorized oracle committee. Eight seconds later, the attacker used that inflated collateral to borrow approximately 6.6 million USDC and 34.5 million Wrapped HBAR (WHBAR), together worth about $9.05 million. A second wallet borrowed roughly $1 million during the same window before identifying itself to the Bonzo team as a white-hat responder and pledging to return the funds — bringing total abnormal borrowing during the incident to about $10.06 million, though Bonzo’s headline loss figure of $9.05 million excludes the funds the white-hat wallet said it would return.
Blockchain security researchers Specter and PeckShield tracked over $5.25 million of the stolen funds being bridged from Hedera to Ethereum via LayerZero and swapped from Wrapped Bitcoin into ETH. Bonzo Lend and Bonzo Points remain paused while the team evaluates recovery options; Bonzo Vaults, Bonzo Bridge, and single-sided staking were unaffected and continue operating normally. Bonzo attributed the failure specifically to a flaw in Supra’s third-party oracle verification infrastructure, stating the incident was not caused by vulnerabilities in Bonzo’s own smart contracts or in Hedera’s underlying network — a distinction that matters, since it means the exploit reflects a weakness in one DeFi protocol’s chosen oracle provider rather than a flaw in Hedera’s core consensus mechanism. Supra has since acknowledged the issue and deployed a fix to the affected verifier contract.
Why It Matters Beyond the Dollar Figure The exploit’s real damage may be to confidence rather than just the balance sheet. Hedera’s network-wide total value locked fell by nearly 40% in the 24 hours following the incident as users withdrew funds, and South Korean exchanges including Upbit, Bithumb, and Coinone issued investor caution notices regarding Hedera. The timing is also notable: the incident is one of three major DeFi exploits in a single week — alongside a $6 million Summer.fi exploit and a $20 million BonkDAO governance attack — that together account for more than $35 million in losses, part of a broader pattern CertiK’s H1 2026 report flagged as a security environment that “has not improved and has, in several respects, deteriorated” despite total dollar losses trending down. For more on how total value locked is tracked across DeFi, see our explainer on what DeFiLlama measures.
The Institutional Side of the Story: Lloyds, Aberdeen, and Archax While the exploit was still working through headlines, Hedera posted a genuinely significant institutional development. Lloyds Banking Group, Aberdeen Investments, and digital asset platform Archax completed the UK’s first foreign exchange transaction using tokenized real-world assets as collateral, executed on the Hedera network. The transaction involved tokenized units of an Aberdeen Investments money market fund alongside tokenized UK government debt, and was highlighted in an HM Treasury-backed Wholesale Digital Markets Champion report as an example of practical institutional blockchain adoption. The juxtaposition — a DeFi protocol exploit and a landmark traditional-finance pilot landing on Hedera in the same week — captures the split character of Hedera’s current position: a network with genuine enterprise credibility whose permissionless DeFi layer carries the same third-party smart contract risks as any other chain.
Who Governs Hedera: The Hedera Council An Enterprise Governance Model Unlike Most Blockchains Unlike Bitcoin or Ethereum, Hedera isn’t governed by anonymous validators or a founding team — it’s run by the Hedera Council (renamed from “Hedera Governing Council” in May 2025), a rotating body of up to 39 global organizations, currently numbering roughly 31-32 members. Each member holds one equal vote on protocol decisions regardless of company size, serves a three-year term with a maximum of two consecutive terms, and is required to operate a consensus node that validates transactions on the network. The structure is explicitly modeled on Visa’s original 1968 governance framework, in which a council of member banks ran a shared payment network without any single institution controlling it.
Who’s On the Council Council members span technology, finance, telecommunications, energy, and academia, and include Google, IBM, Boeing, FedEx, Dell, Deutsche Telekom, LG Electronics, Standard Bank, Chainlink Labs, Nomura Holdings, Ubisoft, McLaren Racing, and Accenture (which joined in April 2026 to build enterprise AI governance infrastructure on the network), alongside academic institutions including the London School of Economics and University College London. Modifications to Hedera’s total HBAR supply — capped at 50 billion tokens — require unanimous agreement from every council member, the highest governance threshold in the network’s structure.
HBAR Regulatory and Institutional Backdrop HBAR was one of 16 tokens the SEC and CFTC included on a formal digital commodity classification list published March 17, 2026, alongside Bitcoin, Ethereum, Solana, and XRP — a notable inclusion that expanded regulated institutional access to the token. That classification helped pave the way for products like the Canary Capital HBAR spot ETF (ticker: HBR), which has drawn cumulative inflows of roughly $93 million since launch, with net assets around $49 million, alongside a Hashdex index product that also includes HBAR exposure.
For more on the platforms tracking crypto market data, see our explainers on what Coinglass tracks in derivatives markets and what RWA.xyz measures in tokenized assets. For the broader crypto market picture, see today’s Crypto Market Today and Crypto News Today roundup.
AUTHOR
Max delves deep into the cryptocurrency realm, with a passion for altcoins and NFTs. Convinced of crypto's transformative potential, he envisions a decentralized financial future. Max's background in the financial sector grants him unique insights into global monetary systems. In his leisure, Max embraces the thrill of adventures and is an avid sports enthusiast, finding balance and rejuvenation away from work.
Circle přidala na Solanu novou likviditu v objemu 250 milionů dolarů tím, že na síť přímo mintovala USDC. To může posílit DeFi infrastrukturu i zájem institucí o Solanu.
$250 million in new liquidity has been added to the Solana blockchain, according to a recent report by @martypartymusic on social media. This development is attributed to Circle, the issuer of USDC, minting the stablecoin directly onto the network. The injection of capital is expected to bolster the infrastructure supporting decentralized finance (DeFi) protocols and exchanges operating within the Solana ecosystem. Market observers are noting this move as a potential indicator of increasing institutional interest in Solana as a robust platform for dollar-backed assets.
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The additional liquidity has been detected by on-chain monitoring services such as SolanaFloor and Whale Alert, which track significant blockchain transactions. This injection aligns with Solana’s strategy as a leading stablecoin hub, comparable to Ethereum and Base. As a result, market participants appear to be considering the implications of this liquidity boost on Solana’s price trajectory, particularly in the context of its ability to reach $90 in July.
Key Takeaways The addition of $250 million liquidity on Solana suggests potential support for increased market activity and institutional interest. Pricing in prediction markets appears consistent with scenarios where Solana’s price reaches $90 in July, reflecting moderate optimism. The transaction may indicate Solana’s growing appeal as a settlement layer for stablecoins, reinforcing its competitive position. What to Watch Market participants will be closely monitoring Solana’s price movements in the coming weeks, particularly any approach towards the $90 mark by the end of July. Key developments that could further influence market sentiment include potential upgrades to the Solana network, significant ETF inflows, or new financial products approved by regulatory bodies. Additionally, any macroeconomic shifts or regulatory changes affecting the crypto market could impact Solana’s ability to maintain or exceed current price expectations.
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Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 18.5% — — View market → August 1 2026 0.5% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.3% — — View market → August 1 2026 1.5% — — View market → August 1 2026 0.9% — — View market → August 1 2026 4.3% — — View market → August 1 2026 0.5% — — View market → August 1 2026 6% — — View market → August 1 2026 0.1% — — View market → August 1 2026 1.6% — — View market → August 1 2026 0.1% — — View market → August 1 2026 36% — — View market →
Solana se poprvé dostala nad 300 000 držitelů RWA a s 300 130 adresami je nově jedničkou mezi blockchainy podle počtu držitelů. Síť zároveň drží zhruba 3,32 miliardy USD v tokenizovaných reálných aktivech.
Solana has become the No. 1 blockchain by RWA holders after the network surpassed 300,000 RWA holders for the first time.
Data from rwa.xyz shows Solana now has 300,130 RWA holders, a new all-time high that puts the network ahead of other major blockchain ecosystems by holder count. The milestone adds to a string of records for Solana's growing tokenized asset market in 2026.
Solana's RWA Market Holds Above $3 Billion The total value of distributed real-world assets on Solana currently stands at approximately $3.32 billion. At the start of July, the ecosystem reached another milestone when its total RWA value briefly rose to an all-time high of $3.62 billion.
Solana now hosts more than 2,120 different kinds of RWAs, highlighting the expanding range of tokenized products available on the network.
Stablecoins still account for the largest share of tokenized asset value. However, tokenized equities, private credit products and other institutional assets continue to gain traction as issuers and financial platforms expand their onchain offerings.
The growth in the number of holders suggests the expansion has also begun to reach a broader user base. Solana now leads Plume, Ethereum, and BNB Chain by the number of RWA holders, and is now gradually closing the gap to Ethereum in terms of total RWA market value.
Tokenized Equity Trading Hits $3.47 Billion Record Tokenized equities have emerged as one of the fastest-growing parts of Solana's RWA ecosystem. Solana recorded $3.47 billion in tokenized equity spot trading volume in June 2026, marking a new monthly all-time high. The network also captured more than 96% of tokenized equity trading volume across blockchains during the month.
June's volume represented a sharp acceleration from previous months, and the figures show that Solana's RWA growth now extends beyond assets simply existing onchain. Traders are increasingly using the network as a venue for secondary market activity in tokenized stocks.
Wall Street Pushes Tokenization Solana's latest records come as traditional financial institutions accelerate their own tokenization efforts. Earlier today, July 15, the Depository Trust & Clearing Corporation successfully converted securities held at the Depository Trust Company into tokens and used them in real production trades. More than 30 traditional and digital market firms participated in the initiative, which DTCC described as its largest tokenization production effort by use cases, asset classes, and participants.
The tests covered collateral pledges, securities lending, U.S. Treasury and repo delivery-versus-payment trades, equity trades, token transfers and central counterparty margin workflows. Participants included BlackRock, Goldman Sachs, J.P. Morgan, Nasdaq, the New York Stock Exchange, Circle, Chainlink, Ondo Finance, Vanguard and several other major financial and digital asset firms.
DTCC plans to launch its Tokenization Service in October 2026. The service will allow DTC participants to create tokenized representations, or digital twins, of securities held at DTC and deliver them to approved wallets. Participants can also convert assets between traditional and tokenized forms.
A similar two-way mechanism is already live on Solana through some tokenized stock products offered by Backpack. Holders can redeem tokenized stocks for the underlying shares and transfer those shares to traditional brokerage accounts. Eligible shares can also move in the opposite direction, allowing investors to convert conventional securities into tokenized shares on Solana.
The mechanism also accounts for dividends and corporate actions. Traditional brokerage infrastructure processes these events for securities held through Backpack Securities, while tokenized stockholders receive equivalent economic treatment through onchain mechanisms.
Airbnb CEO Brian Chesky recently argued that something meaningful is emerging beneath the noise around RWAs, saying, “Most people won’t notice the plumbing change underneath. They’ll just wake up one day and owning anything, anywhere, will feel obvious.”
Chesky’s comments reflect a broader shift in how major figures in the technology and financial industries view tokenization. Rather than treating RWAs solely as a crypto trend, more established players are exploring how blockchain infrastructure could change the way people issue, hold, and transfer ownership of real-world assets.
Read More on SolanaFloor Claynosaurz Lands on Amazon Prime Video as Solana NFT Brand Goes Mainstream
Pump.fun Faces $121M Token Unlock as Robinhood Takes Memecoin Market Share
Celo vede mezi L1 a L2 v 30denním růstu držitelů tokenu díky odměnám CELO pro uživatele prohlížeče Opera. Síť je zároveň desátá podle celkového počtu držitelů.
Celo just topped every Layer 1 and Layer 2 blockchain in 30-day tokenholder growth, according to Token Terminal’s on-chain analytics. The network also sits at number 10 overall by total tokenholder count.
The catalyst is straightforward: Opera browser users who meet eligibility criteria can now earn CELO token rewards. That’s a distribution channel of meaningful scale, and it’s translating directly into new wallet holders at a pace no other chain is matching right now.
The numbers behind the surge Celo reports over 700,000 daily active users and transactions, which makes it the most active Ethereum Layer 2 by that metric.
The network’s MiniPay wallet, its flagship mobile product, has crossed 11 million users. That user base isn’t hypothetical DeFi degens rotating between yield farms. It’s largely composed of people in emerging markets using the wallet for actual payments.
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Monthly stablecoin volume on Celo surpassed $3 billion entering 2026. The chain has also passed one billion lifetime transactions, a milestone that places it in a relatively exclusive club of networks with demonstrated, sustained usage.
The Opera play and what it actually means Opera has hundreds of millions of users globally, with particular strength in Africa and Southeast Asia, regions where Celo has already concentrated its efforts. Celo isn’t trying to poach users from Arbitrum or Optimism. It’s going after people who may never have held a crypto token before, reaching them through a browser they already use daily.
The CELO rewards act as an onboarding mechanism, turning Opera users into tokenholders without requiring them to navigate exchanges or bridge assets.
Community proposals suggest that grants are tied to the Opera partnership, which means governance discussions are actively weighing the cost of user acquisition against the potential for token dilution.
From L1 to L2, and the tokenomics question Celo’s transition from an independent Layer 1 to an Ethereum Layer 2 has been one of the more interesting architectural pivots in crypto. Rather than competing with Ethereum, the network opted to build on top of it, gaining access to Ethereum’s security and liquidity while maintaining its mobile-first identity.
The chain recently implemented its Jello hard fork, which introduced zero-knowledge fault proofs.
Celo’s community is running a tokenomics redesign initiative that explores buyback-and-burn mechanisms for the CELO token. If implemented, this would create deflationary pressure on token supply, funded presumably by network revenue. A mechanism that systematically removes tokens from circulation could offset the new supply being distributed through programs like the Opera rewards.
What this means for investors The competitive landscape for Ethereum L2s is crowded and getting more so every quarter. Arbitrum, Optimism, Base, and others are all fighting for developer attention and user adoption. Celo’s differentiation is geographic and demographic: it’s not trying to be the fastest chain for DeFi traders. It’s trying to be the default payment rail for mobile users in markets where traditional banking infrastructure is thin.
Investors should watch two things closely. First, whether the tokenholder growth sustains after the initial Opera reward impulse fades. Second, whether the buyback-and-burn tokenomics proposal actually passes governance and at what parameters, since that will determine whether CELO’s supply dynamics shift from inflationary to deflationary.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Interactive Brokers přidal Aptos (APT) do své platformy pro obchodování s kryptoměnami v rámci širší expanze o devět tokenů. Klienti tak získají přímý přístup k APT přímo z brokerského účtu.
Interactive Brokers, one of the largest electronic brokerage firms in the US, has added Aptos (APT) to its cryptocurrency trading platform as part of a broader nine-token expansion. The move gives IBKR’s substantial client base, which skews heavily toward active traders and institutional participants, direct access to the Layer 1 blockchain token without needing to leave their existing brokerage accounts.
What IBKR is actually offering The July 14 integration brought APT alongside other tokens including AAVE, LDO, NEAR, and UNI to IBKR’s crypto trading desk. That’s a meaningful expansion from the brokerage’s early, cautious steps into crypto, which began back in 2021 with limited offerings routed through Paxos.
Commissions for crypto trades on the platform range from 0.12% to 0.18% of the transaction value, with a minimum fee of $1.75 per order. No additional custody fees or spreads are tacked on. If you buy $10,000 worth of APT, you’re paying somewhere between $12 and $18 in commissions.
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The backend infrastructure relies on a partnership with Zerohash for trade execution, while Paxos Trust Company and Zero Hash LLC handle custodial services.
Why Aptos specifically matters here Aptos was built by a team of engineers who previously worked on Meta’s Diem project (formerly Libra), the stablecoin initiative that regulators effectively killed before it could launch. The Aptos mainnet went live on October 18, 2022, with a genesis date of October 12 that same year. Its core selling point is speed: the network achieves sub-second finality on transactions. APT serves as the native token powering staking, governance, and network operations across the ecosystem.
The blockchain was designed from the ground up with scalability and security as primary engineering goals. That focus has attracted increasing institutional interest throughout 2026, with network-level security enhancements and tokenomics proposals continuing to evolve in the background.
The bigger picture: TradFi keeps absorbing crypto By keeping commissions between 0.12% and 0.18% with no hidden custody charges, IBKR is making a play to undercut many crypto-native platforms that rely on wider spreads or tiered fee structures. The $1.75 minimum per order applies to all crypto trades on the platform.
What this means for investors For APT holders and potential buyers, the IBKR listing represents a meaningful expansion of the token’s addressable market. IBKR’s client base includes hedge funds, proprietary trading firms, financial advisors, and sophisticated retail traders — segments that often have significant capital to deploy but have historically been reluctant to open accounts on crypto-native exchanges.
APT remains a relatively young blockchain competing in a crowded Layer 1 landscape against established players like Solana, Avalanche, and Ethereum’s expanding rollup ecosystem. Getting listed on IBKR doesn’t change the fundamental competitive dynamics.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Celestia Labs kupuje Sovereign Labs a rozšiřuje se na full-stack partnera pro vývoj vlastních blockchainů. Preston Evans se zároveň stává CTO společnosti Celestia Labs.
Today we are proud to announce that Celestia Labs is acquiring Sovereign Labs.
This acquisition establishes Celestia Labs as a full-stack custom blockchain development partner for companies building onchain, marking a new chapter for Celestia’s go-to-market strategy and ambitions.
Why Sovereign LabsSovereign Labs has been a core pillar of the Celestia ecosystem since its founding in 2021 by Cem Ozer and Preston Evans. Now in 2026, the Sovereign SDK is the industry's leading framework for application-specific, high-performance blockchains. It powers applications like Relay, the #1 bridge by volume powering over $8.5B of transfers, and Bullet, a perpetuals exchange capable of clearing orders in 1.2 milliseconds and processing over 30,000 TPS.
The addition of the Sovereign Labs team and the Sovereign SDK expands our in-house expertise at Celestia Labs to the entire stack of blockchain engineering, from Layer 1 through to the execution and application layers, enabling end-to-end development for peak scale, performance and customisation.
As part of the acquisition, Preston Evans is now CTO of Celestia Labs. His hands-on experience with customers at Sovereign Labs and general mastery of blockchain infrastructure will be crucial in this next phase.
The need for high-performance custom chainsThe blockchain industry is at an inflection point. Key application categories like stablecoins, decentralised exchanges, and prediction markets are hitting product market fit. Meanwhile, regulatory clarity is clearing the way for enterprises to roll out blockchain solutions at scale. However, these successful apps and enterprises need greater scale, performance and control than general purpose infrastructure can provide, leading many to build their own custom blockchains as a result.
Hyperliquid, the leading decentralized exchange, built its own blockchain to optimize for low latency and custom order flow rules. Polymarket, the prediction market which processed $6B in volume in H1 2025, is migrating to a custom chain to resolve congestion issues and build a more performant exchange. Robinhood launched its own chain this month, purpose-built for tokenized stocks.
The trend towards custom chains is only just starting and will accelerate as more blockchain applications go mainstream. Therein lies our opportunity.
Celestia’s next chapterOur thesis from the beginning has been that for blockchain applications to be usable at a global scale, the underlying blockchain infrastructure needs to be scalable, performant and customizable. Until now, we have focused exclusively on building the underlying Layer 1 technology to enable this, like Fibre which is capable of supporting up to 625M TPS. While that is a critical component, it is not the full picture.
Major applications and enterprises don’t just need a scalable Layer 1, they need a full-stack blockchain infrastructure solution with a hands-on design and engineering partner. The acquisition of Sovereign Labs completes the picture, adding the missing technology and expertise to meet the market where it is going.
A more ambitious era of digital markets requires more ambitious infrastructure to match. With Sovereign Labs on board, we are ready to build it.
Trump podepsal nařízení o vytvoření strategické bitcoinové rezervy, do níž má být převedeno asi 328 372 BTC zabavených federálními úřady. Bitcoin v rezervě nesmí být prodán, což ho vyřazuje z oběhu.
President Trump signed an executive order on March 6, 2025, establishing a Strategic Bitcoin Reserve capitalized with Bitcoin seized through federal criminal and civil asset forfeiture proceedings nationwide. The U.S. federal government holds approximately 328,372 BTC as of February 2026, making it the largest known state holder of Bitcoin in the world by a significant margin. Bitcoin deposited into the Strategic Bitcoin Reserve cannot be sold under current rules, effectively removing approximately 328,372 BTC from the circulating supply against Bitcoin’s 21 million coin hard cap. Interagency disputes between the Treasury Department and Commerce Department over custody and operational control have delayed full implementation of the reserve as of mid-2026 reporting. The BITCOIN Act (S.954) proposes acquiring up to one million BTC, while the American Reserve Modernization Act, introduced in May 2026, seeks a 20-year mandatory holding period. On March 6, 2025, President Donald Trump signed an executive order creating the Strategic Bitcoin Reserve, the first federal program to treat Bitcoin as a sovereign reserve asset alongside gold and petroleum.
The order directed that Bitcoin seized through law enforcement operations be consolidated into a permanent reserve that cannot be sold. A separate U.S. Digital Asset Stockpile was created for non-Bitcoin digital assets. As of mid-2026, the reserve faces implementation challenges, including interagency disputes over custody.
This article explains how the reserve works, what legislation is pending, and what it means for Bitcoin markets.
How the Executive Order Created the Reserve The March 6, 2025, executive order directed the Treasury Department to establish custodial accounts collectively known as the Strategic Bitcoin Reserve. The reserve was capitalized with all BTC held by the Treasury through final criminal or civil asset forfeiture proceedings.
Other agencies were directed to evaluate their authority to transfer government-held Bitcoin to the reserve within 30 days, as specified in the Federal Register filing.
The key rule is unambiguous: Bitcoin deposited into the reserve cannot be sold. The executive order stated that holdings “shall not be sold and shall be maintained as reserve assets of the United States.” The Secretaries of the Treasury and Commerce were authorized to develop budget-neutral strategies for acquiring additional Bitcoin, provided those strategies impose no incremental costs on taxpayers.
The order also created the U.S. Digital Asset Stockpile for non-Bitcoin assets. The stockpile operates under a different framework, with the development of “stewardship strategies” encouraged rather than a blanket no-sale rule, as the Lathrop GPM legal analysis explained.
The distinction between the Bitcoin reserve and the digital asset stockpile is significant. Bitcoin received the elevated “strategic reserve” designation with a permanent no-sale mandate. All other digital assets were placed in a secondary category with more flexible disposition rules.
This two-tier structure reflects the administration’s view that Bitcoin’s fixed 21 million coin supply and 16-year security track record set it apart from other digital assets.
Current Holdings and Supply Impact The U.S. federal government is the largest known holder of Bitcoin in the world. Total holdings stood at approximately 328,372 BTC as of February 2026, according to Wikipedia’s tracking of government disclosures. The initial tranche was estimated at roughly 200,000 BTC drawn from assets confiscated in law enforcement operations over multiple years, as Crypto Briefing reported.
The no-sale designation has direct supply implications. Approximately 328,372 BTC are now effectively removed from circulation, locked in government wallets with no mechanism to return them to the market under current rules. For an asset with a hard cap of 21 million coins, that represents roughly 1.56% of the total possible supply permanently off the table.
Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, stated in March 2025 that selling some U.S. gold holdings would be a budget-neutral way to acquire more Bitcoin, as reported by multiple outlets.
White House spokesperson Liz Huston stated the administration “continues to evaluate the best structure for a Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile.
Legislative Efforts to Codify the Reserve Multiple bills aim to convert the executive order into permanent law. The BITCOIN Act (S.954), introduced by Senator Cynthia Lummis with five co-sponsors in March 2025, proposes authorizing the acquisition of up to one million BTC over five years by diversifying existing federal funds.
Representative Byron Donalds introduced H.R.2112, which would give the executive order the force and effect of law, as recorded on Congress.gov.
The American Reserve Modernization Act (ARMA), introduced in May 2026, seeks to codify the reserve framework and impose a 20-year mandatory holding period on the assets. Neither the ARMA nor the BITCOIN Act has passed as of mid-2026.
The CLARITY Act’s uncertain timeline in the Senate suggests that comprehensive crypto legislation faces a narrowing window before the November 2026 midterm elections. The gap between executive action and legislative codification is the reserve’s most significant vulnerability. An executive order can be reversed by a future president.
Without congressional authorization, the reserve’s permanence depends entirely on political continuity. The multiple competing bills also suggest that lawmakers have not yet agreed on the reserve’s operational details, including acquisition authority, holding periods, and governance structure.
Interagency Disputes and Implementation Delays As of mid-2026, disputes between the Treasury and Commerce departments over custody and operational control have delayed full implementation. The March 2025 executive order assigned Treasury a central role in establishing accounts and managing holdings, but also directed Commerce to participate in acquisition strategy development.
The delay affects practical decisions around custody, auditing, interagency transfers, and any future acquisition strategy.
In January 2026, Patrick Witt, then executive director of the President’s Council of Advisors for Digital Assets, stated that the administration remained committed to establishing the reserve. However, the operational details remain unresolved.
Regulatory Implications The reserve sits at the intersection of asset forfeiture, sovereign treasury management, and digital asset custody. Congressional passage of the BITCOIN Act or ARMA would create a durable legal framework. Without legislation, the reserve’s status depends on executive authority alone.
Federal banking regulators, including the OCC and FDIC, announced in March 2025 that banks no longer need advance permission for crypto activities, complementing the reserve’s broader policy direction.
What’s Next? The Treasury and Commerce departments are expected to resolve the custody dispute in 2026. The ARMA bill’s 20-year holding provision, if passed, would establish the reserve’s longest proposed lock-up period.
The November 2026 midterm elections may determine whether crypto-friendly legislation advances or stalls. For markets, the reserve’s impact hinges on whether the government moves from holding forfeited Bitcoin to actively acquiring additional coins.
FAQs What is the U.S. Strategic Bitcoin Reserve?
The Strategic Bitcoin Reserve is a federal program established by executive order in March 2025 to hold Bitcoin seized through law enforcement as a permanent sovereign reserve asset.
How much Bitcoin does the U.S. government hold?
The U.S. federal government held approximately 328,372 BTC as of February 2026, making it the largest known state holder of Bitcoin in the world by a significant margin.
Can the government sell Bitcoin from the Strategic Reserve?
No, the March 2025 executive order states that Bitcoin deposited into the Strategic Bitcoin Reserve shall not be sold and must be maintained as reserve assets of the United States.
What is the BITCOIN Act?
The BITCOIN Act (S.954) is a Senate bill proposing authorization to acquire up to one million BTC over five years through diversification of existing federal funds without additional taxpayer costs.
How does the Bitcoin reserve differ from the Digital Asset Stockpile?
Bitcoin receives a strategic reserve designation with a permanent no-sale mandate, while non-Bitcoin digital assets enter a separate stockpile with more flexible stewardship and disposition options.
Why is there a dispute between Treasury and Commerce over the reserve?
The executive order assigned overlapping roles to both departments, creating friction over which agency controls custody, auditing, acquisition strategy, and operational management of the reserve assets.
Could a future president reverse the Strategic Bitcoin Reserve?
Yes, executive orders can be reversed by future presidents, which is why congressional legislation like the BITCOIN Act and ARMA seeks to codify the reserve permanently into federal law.
References The White House (March 2025). “Fact Sheet: President Donald J. Trump Establishes the Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile.” White House. Federal Register (March 11, 2025). “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile.” Federal Register. Congress.gov (2025). “H.R.2112: Establishment of the Strategic Bitcoin Reserve.” Congress.gov. Crypto Briefing (July 2026). “US Strategic Bitcoin Reserve Established as Long-Term National Asset.” Crypto Briefing.
BIP-110 rozděluje bitcoinovou komunitu: má omezit vkládání nefinančních dat do transakcí, ale kritici varují, že může zneplatnit platné transakce a rozdělit síť. Podporu zatím vyjádřilo jen 1 % těžařů.
In brief BIP-110 would restrict several methods used to embed non-financial data in Bitcoin transactions. Supporters say the proposal would reduce blockchain spam, while critics argue it would invalidate legitimate transactions and risk a chain split. Despite attracting little miner support, BIP-110 has become one of Bitcoin's biggest governance debates in years. A proposal to change Bitcoin's consensus rules has divided developers, miners, companies, and users over how the network should evolve and who gets to decide.
The dispute centers around Bitcoin Improvement Proposal 110, or BIP-110. If implemented, BIP-110 would temporarily restrict several methods used to embed arbitrary data in Bitcoin transactions.
Supporters say the proposal would reduce blockchain spam and reinforce Bitcoin's role as money, while critics argue it would reject valid transactions and could split the network.
The debate has drawn reactions from Bitcoin developer Luke Dashjr, Blockstream CEO Adam Back, Strategy Executive Chairman Michael Saylor, Casa Chief Security Officer Jameson Lopp, and Bitcoin advocate Samson Mow.
“There are 110 things more dangerous to Bitcoin than spam. BIP 110 turns a spam dispute into a consensus change that would invalidate some currently valid, fee-paying transactions,” Saylor wrote on X. “That precedent is the danger. We should save our energy for threats that really matter.”
What would BIP-110 change?Bitcoin transactions can include more than payments. They can also carry text, images, token metadata, and other information through transaction scripts and witness data.
As a soft fork, BIP-110 would tighten Bitcoin's consensus rules by limiting several techniques used to embed that data. The proposal would limit most new transaction outputs to 34 bytes, restore an 83-byte limit for OP_RETURN outputs, cap certain witness elements at 256 bytes, and temporarily restrict several Taproot features commonly used for inscriptions. (Inscriptions are to Bitcoin what NFTs and other similar assets are to blockchain networks like Ethereum and Solana.)
Critics argue that BIP-110 would invalidate some transactions that are currently valid under Bitcoin's consensus rules and set a precedent for future protocol changes. In a February blog post, Jameson Lopp argued that BIP-110 would weaken two of Bitcoin's defining properties: censorship resistance and predictability.
“Bitcoin's strength lies in its censorship resistance and predictability,” Loop wrote. “BIP-110 signals that the protocol can be altered to censor subjectively ‘undesirable’ transactions, eroding its image as permissionless programmable money.”
BIP-110's mandatory signaling period begins in August, and so far, only 1% of miners have shown support for BIP-110, according to the proposal's monitoring dashboard.
Blockstream CEO Adam Back argued that Bitcoin's decentralized design prevents users from imposing their preferences on others and that its technical consensus process is intentionally resistant to change. While supporters are free to create their own fork, he wrote, "Bitcoin won't be joining it."
“Now the tough pill, which is unfortunately true,” Back wrote on X. “If you won't listen to reason, educate yourself, learn, the same radical freedom applies to you: your permissionless recourse is to club together and create a fork.”
The debate began with OrdinalsThe current dispute dates back to early 2023 with the launch of Ordinals, a protocol created by Bitcoin developer Casey Rodarmor that allows images, text, video, and other digital content to be inscribed directly onto individual satoshis, the smallest unit of Bitcoin. Ordinals use features introduced by Bitcoin's SegWit and Taproot upgrades to create NFT-like assets directly on the Bitcoin blockchain.
As Ordinals and BRC-20 tokens gained popularity, demand for Bitcoin block space increased, pushing transaction fees higher. Supporters say those fees generated additional revenue for miners and strengthened Bitcoin's long-term security.
However, critics, including Dashjr, have argued that inscriptions exploit the Bitcoin network, describing them as spam rather than legitimate financial transactions.
Mow urges consensusIn an essay posted to X on Tuesday titled The Bitcoin Alliance, Samson Mow argued that Bitcoin participants should think of themselves as an alliance rather than a community, with developers, miners, companies, educators, and users each contributing to the network in different ways.
“During the Blocksize War, there was never this ‘if you're not with us, you're against us’ mentality on our side,” he wrote. “The small block camp never had to coerce anyone to join. We just all "got it" and were confident in our position.”
For reference, the Blocksize Wars (2015–2017) centered on whether Bitcoin should increase its 1 MB block size limit to process more transactions in a single block on the network. In the end, the "small block" camp won out, with "big blockers" forking off to create Bitcoin Cash in 2017 and later Bitcoin SV in 2018.
Mow wrote that he shares concerns about blockchain spam but opposes BIP-110 because he believes protocol changes require broad consensus. Mow also criticized Bitcoin Core developers for their handling of recent OP_RETURN policy changes, arguing that both sides contributed to escalating the dispute.
“The way they handled the OP_RETURN change was full of stupid mistakes, from banning people on GitHub to the ninja ACKs,” he wrote. “Any normal person could have predicted the reaction from the plebs. People store their time and value in Bitcoin. Anything that appears to threaten that will get people up in arms.”
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Studie Stanfordu a SMU zjistila, že pětiminutové bitcoinové trhy na Polymarketu pobízejí k manipulaci s cenou před vypořádáním. Odhadla přesun asi 1,28 milionu USD od běžných traderů k manipulátorům.
Researchers at Stanford University and Singapore Management University found that Polymarket’s five-minute Bitcoin prediction markets create incentives for traders to manipulate spot prices around settlement, allowing sophisticated participants to profit at the expense of retail traders.
The study examined contracts in which traders bet on whether Bitcoin’s price would end above or below a predetermined level after five minutes. Because the contracts settle using Chainlink price feeds based on Bitcoin’s price at the end of each trading window, traders have an incentive to influence the spot market immediately before settlement.
Analyzing trading activity before and after Polymarket introduced the contracts in July 2024, the researchers found sharp increases in Bitcoin spot-market order flow just before settlement, followed by rapid price reversals, which were consistent with settlement-price manipulation.
The study estimated that the behavior transferred about $1.28 million from ordinary traders to manipulators during the sample period. The researchers said extending contract durations from five minutes to 15 minutes largely eliminated the effect.
The researchers said the results do not indicate prediction markets are inherently vulnerable to manipulation, arguing instead that settlement design can reduce the risk. They pointed to longer settlement windows and alternative pricing methods, such as time-weighted average prices, as potential solutions.
The findings could extend beyond crypto. The paper notes that traditional exchanges, including Nasdaq and Cboe, have proposed event contracts tied to asset prices, making contract design an increasingly important consideration as prediction markets expand into regulated financial markets.
World Cup fuels prediction market growthPrediction markets posted record trading volumes in June as the expanded 2026 FIFA World Cup fueled activity across the sector. According to DefiLlama data, Kalshi processed about $9.4 billion in trading volume during the month, while Polymarket International handled roughly $4.3 billion.
The platforms’ World Cup winner markets have since generated more than $5.4 billion in combined trading volume, with Polymarket processing about $4.25 billion and Kalshi about $1.2 billion, according to data from the two platforms at the time of writing.
World Cup winner bets on Polymarket. Source: Polymarket
The sector’s growth has coincided with mounting legal scrutiny. Several US states have challenged companies, including Kalshi and Polymarket, this year, while the Commodity Futures Trading Commission has argued that federally regulated event contracts fall under its “exclusive jurisdiction” rather than state gambling laws.
The dispute is now moving through the federal courts, and legal observers have said conflicting appellate rulings could eventually prompt the US Supreme Court to decide whether states or the CFTC have primary authority over prediction markets.
Magazine: Strategy became a symbol of the dot-com crash: Could history repeat?
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CEO Phong Le potvrdil, že Strategy zůstává odhodlaná dál nakupovat Bitcoin i přes dluh. Rizika by začala řešit až při ceně Bitcoinu 8 000 až 10 000 USD.
In a recent statement, Strategy Inc. CEO Phong Le reaffirmed the company’s dedication to remaining a major Bitcoin purchaser despite existing debt concerns. Le highlighted that the company would only start evaluating risks associated with its debt if Bitcoin’s value fell to a range of $8,000 to $10,000. This statement underscores Strategy’s confidence in its financial stability and its commitment to its Bitcoin strategy. As the world’s largest corporate Bitcoin holder, Strategy Inc. currently holds 843,738 Bitcoin, valued at approximately $69,000 per coin. The company’s robust balance sheet appears to reassure market participants, even as the firm navigates significant debt obligations.
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Key Takeaways Strategy’s CEO Phong Le’s statement appears to reinforce the company’s ongoing commitment to Bitcoin purchases, with a focus on financial resilience. The company’s current financial position suggests it could cover its $6 billion debt even if Bitcoin prices dropped significantly. Market pricing implies a stable outlook for Strategy’s Bitcoin strategy, with no immediate debt-related concerns unless Bitcoin drops sharply. What to Watch Market participants will be closely observing any fluctuations in Bitcoin prices, specifically any movement toward the $8,000 to $10,000 range, as this could impact Strategy’s financial strategy. Additionally, any announcements from Strategy regarding further Bitcoin acquisitions or changes in financial strategy could influence market sentiment. The company’s financial health and Bitcoin strategy remain pivotal indicators for the future trajectory of its stock price, particularly as the December 31 deadline for STRC hitting $100 approaches.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 46% — — View market → September 30 24.5% — — View market →
