Avalanche’s native token, AVAX, has attracted renewed attention following a substantial increase in on-chain activity and improved technical signals, prompting some market analysts to take a more positive stance on the asset.
Stablecoin Supply and Institutional Engagement on AvalancheMichaël van de Poppe, a prominent crypto analyst, observed that AVAX could soon move away from its current price range. He attributed this expectation to robust growth in the Avalanche ecosystem and a constructive technical outlook.
Van de Poppe reported on X that the stablecoin supply on Avalanche expanded by 48% within a single week. At the same time, BlackRock’s BUIDL fund—an institutional-grade tokenized asset available on blockchain platforms—more than doubled in size on the Avalanche network over the same period. He described this growth as evidence of accelerating blockchain adoption and increasing ecosystem momentum.
“The activity continues to expand on AVAX, a strong signal of adoption and ecosystem growth,” van de Poppe stated, underscoring surging stablecoin liquidity as a sign of improving capital efficiency for decentralized applications and traders engaged in lending, trading, and on-chain transactions.
Rising stablecoin balances often reflect increasing liquidity and active capital within a blockchain, giving users and protocols more flexibility to support transactions and investments without friction.
Mini dictionary: BlackRock BUIDL fund, a tokenized money market fund launched by global asset manager BlackRock, provides blockchain users with exposure to US Treasury bills and cash equivalents through tokenization, aiming to facilitate broader institutional adoption of blockchain infrastructure.
MetricPrevious WeekCurrent WeekChange (%)Stablecoin supply (AVAX)Baseline48% higher+48%BUIDL fund on AvalancheBaseline100%+ higher+100%Technical Analysis and Key Price LevelsAlongside ecosystem metrics, van de Poppe pointed to several favorable technical patterns for AVAX. According to his analysis, the token recently formed a bullish divergence on the daily chart, and established a higher low—a common support signal in technical analysis.
Building on these patterns, van de Poppe outlined a potential scenario in which AVAX could test higher resistance levels if current supports hold, noting, “What’s the potential target for this one? I would be looking at $10+.” He emphasized that achieving this target relies on the token maintaining strength above the present support band.
For investors, real-time on-chain data such as expanding stablecoin supply and institutional product growth can provide a more nuanced view than daily price movements alone, highlighting deeper trends in adoption and liquidity.
Avalanche has positioned itself as a leading platform for asset tokenization and decentralized finance, aiming to attract both retail and institutional users seeking efficient, scalable blockchain solutions.
Implications for Investors and Market OutlookAnalysts believe continued growth in stablecoin liquidity, rising Total Value Locked (TVL), and institutional adoption — such as the expansion of the BUIDL fund — reinforce the network’s underlying fundamentals.
A key focus for market participants is whether AVAX can preserve its higher-low support level and successfully break above immediate resistance. A breakout may confirm the bullish technical signals, while a failure to hold support could delay any move toward higher targets.
Monitoring stablecoin inflows, institutional asset growth, and overall network usage will be important for assessing the sustainability of recent positive price action. Persistent increases in these areas could help underpin stronger momentum for AVAX within the broader crypto market.
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.
Interpol operation exposes $122M crypto wallet tied to romance scam launderingA crypto wallet linked to a suspected romance-scam money launderer processed more than $122.5 million in 10 months, according to Interpol.
Interpol said that Thai authorities arrested two suspects and uncovered a money-laundering network that funneled proceeds from romance scams into cryptocurrencies, using cross-chain token swaps to obscure the trail.
The investigation was part of Operation First Light 2026, an Interpol-coordinated campaign targeting social engineering scams and the financial infrastructure used to launder their proceeds.
The operation involved authorities in 97 countries and territories, resulting in 5,811 arrests and the seizure of $293 million in illicit assets tied to fraud and money laundering.
Romance scams, also known as pig-butchering scams, often involve criminals building trust with victims through social media or online dating platforms before steering them toward fraudulent investment schemes.
InterpolAuthorities carried out raids on scam centers. Source: Interpol
Hyundai completes USDT treasury settlement pilot between US and MexicoHyundai Motor's US and Mexican units completed a pilot cross-border treasury transfer using Tether's USDT stablecoin, settling a $20,000 payment in about seven minutes on the Avalanche blockchain.
Hyundai Motor America converted the funds into USDT, transferred the stablecoin to Hyundai Motor Mexico and converted it back into US dollars. The transfer and verification process took about seven minutes, compared with three to four hours or more for a traditional cross-border bank transfer.
Tether said the pilot used Axiym's settlement infrastructure, while Hyundai Card designed the remittance structure and oversaw the regulatory, compliance, accounting and operational requirements needed to support the proof of concept.
Japan’s SBI to launch yen stablecoin lending with 3% yieldTokyo-based SBI VC Trade will begin accepting applications Thursday for a Japanese yen-denominated stablecoin lending service offering an initial annualized rate of 3% on JPYSC lent for 12 weeks.
Customers will lend JPYSC to the SBI Holdings subsidiary from Thursday and receive the tokens back with a lending fee at maturity, the company said in a Monday press release. At the advertised rate, the gross return over the 12-week term would be about 0.69%, before tax.
The company said the product pays more than the 0.325% to 1% annual rate SBI cited for ordinary yen deposits. Still, it is not a bank deposit, is not covered by deposit insurance and generally cannot be canceled early.
Japanese lender launches Bitcoin-backed loans of up to $6.2MJapanese lender CRYL has launched Bitcoin-backed loans of up to 1 billion yen ($6.2 million), allowing individuals and businesses to raise fiat currency without selling their BTC.
On Thursday, the company announced that borrowers can access between $6,200 and $6.2 million at annual rates of 3.5% to 7%. The loans carry collateral ratios of 40% to 60%. They run for one year and can be used for expenses, including taxes, business funding and property purchases.
The launch expands Japan’s small market for regulated crypto-backed financing. In 2020, Fintertech, a Daiwa Securities Group and Credit Saison joint venture, launched a similar service and currently lends up to $3 million against Bitcoin or Ether. However, CRYL's service advertises a higher ceiling and a lower minimum, while limiting collateral to BTC.
Metaplanet explores Bitcoin-backed digital credit with JPYC in JapanJapanese Bitcoin treasury company Metaplanet has teamed up with stablecoin issuer JPYC and tokenization infrastructure provider Progmat to study Bitcoin-backed digital credit products in Japan.
The investigation will examine whether Bitcoin can be used as collateral or credit enhancement for digital corporate bonds and other credit instruments, with 24/7 accessibility, settlement and daily interest accrual for holders, issued on the blockchain ledger. No product has been launched yet as part of the experiment.
The news suggests Metaplanet is looking beyond its role as a Bitcoin treasury company and testing how Bitcoin could be used as a productive balance sheet asset.
Digital credit instruments have been an important part of Strategy’s playbook. The world’s largest corporate Bitcoin holder has relied on "digital credit" instruments such as the STRC preferred stock as a primary vehicle for raising capital to acquire more Bitcoin.
MetaplanetJoint study in the digital credit domain utilizing Bitcoin, JPYC, and security tokens. Source: Metaplanet
Japan stablecoin payments advance with Lawson trial, Netstars launchJapanese convenience-store operator Lawson plans to test yen-denominated stablecoin payments at a Tokyo location in August, examining whether stablecoin payments can work within a standard convenience store checkout flow.
On Monday, blockchain company HashPort said it had signed an agreement to conduct the trial at the Lawson Takanawa Gateway City store. Participants will use HashPort's non-custodial wallet, while the store will process payments through the company's point-of-sale system without needing to open or manage crypto wallets.
The pilot aims to explore how stablecoin payments can be integrated into Japan’s existing retail infrastructure while shielding merchants from much of the operational complexity associated with accepting digital assets.
Bitdeer stock jumps 14% as company expands US mining hardware productionBitdeer shares rallied after the company announced a $36 million Nevada manufacturing facility that will produce its SEALMINER Bitcoin mining machines and expand its hardware business.
The gains for the Singapore-based miner followed Bitdeer’s announcement that it will build a manufacturing facility in Sparks, Nevada. It will produce key mining hardware components, with commercial production expected to begin by the end of the year.
BitdeerBitdeer Technologies Group (BTDR) stock. Source: Yahoo Finance
Hong Kong regulator orders new anti-phishing measures for crypto platformsThe Hong Kong Securities and Futures Commission (SFC) on Thursday issued new requirements for phishing-resistant authentication methods for virtual asset trading platforms (VATPs) and online brokers in the special administrative region.
The new standards require stronger phishing-resistant authentication methods and device binding while prohibiting the use of one-time passwords through SMS, email or app-based logins. Platforms must implement the changes within the next 12 months.
Bank of Korea stands firm on bank-led stablecoin push as deposit token pilots advanceThe Bank of Korea (BOK) has doubled down on its stance that won-denominated stablecoins should first be issued through bank-led consortiums.
According to local reports from Digital Asset and EDaily, the BOK also called for new safeguards including a statutory policy body involving relevant agencies to oversee the sector.
The latest comments reinforce the BOK's months-long push to keep won stablecoin issuance under bank-led structures. The central bank's stance has divided policymakers and industry groups and contributed to delays in South Korea's digital asset bill.
Regulators invited Binance to seek new licenses after MiCA setback, co-CEO saysBinance co-CEO Richard Teng says some regulators have invited the exchange to apply for crypto licenses after it failed to secure permission to operate in Europe.
Teng said the discussions are still “premature” and declined to identify the jurisdictions.
MiCA created a single licensing framework for crypto firms across the European Union, with non licensed firms unable to operate in the block after July 1. Binance withdrew its application for a MiCA license in Greece on June 24, after report that Greek regulators were planning on knocking it back.
“It caught us by surprise because we submitted a fully compliant application. The regulators told us as much,” Teng said.
“We are not quite sure why the approval kept being delayed. We withdrew the application because otherwise our users would have faced a very short transition period,” he added.
Richard TengRichard Teng. Source: Binance
Asia crypto news in brief
Temasek says no to crypto
Singapore sovereign wealth fund Temasek is still smarting from having to write down $275 million on its FTX investment. Its Global Investment Head said this week that crypto remains “off the table” for now, though it’s still keeping an eye on developments in the blockchain sector.
HSBC’s blockchain note
HSBC and Marketnode teamed up to complete the private placement of a “digitally native” USD denominated note issued on blockchain in Hong Kong.
Japan’s crypto ETFs and credit
The Japanese government remains on track to launch crypto ETFs in the country, following recent legislative amendments to the Financial Instruments and Exchanges Act
SBI Solana Global
Japanese asset manager SBI Holdings has teamed up with the Solana Foundation to launch a new division called SBI Solana Global, focused on stablecoins, international payments and RWAs.
India crypto ban looms
The Reserve Bank of India said it is “leaning” toward a total prohibition on crypto and has recommended that legislators prevent banks and financial institutions from getting involved in the sector.
Thailand stablecoin audits
The Bank of Thailand and the Thai SEC are using blockchain analytics tools to investigate suspicious high-volume stablecoin transactions, with a particular focus on USDT.
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.
Credible Finance’s initial coin offering (ICO) on the MetaDAO platform has markedly surpassed its fundraising goal, with commitments reaching $18.2 million against a target of $4 million. This overperformance by more than 4.5 times underscores robust demand for Solana-native fundraising mechanisms, highlighting MetaDAO’s effectiveness in capital formation. This development comes as the ICO still has three days left, presenting the potential for further financial commitments. MetaDAO, which operates as a decentralized capital formation layer on Solana, has previously facilitated significant oversubscriptions, such as Umbra’s 200-fold accomplishment.
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The market response to this news has been swift, with the odds of exceeding higher commitment thresholds by the end of August now reflecting heightened optimism. Current market data shows that the probability of surpassing $20 million in commitments is priced at 100% YES, while exceeding $25 million and $30 million stands at 93% and 70% YES respectively. This suggests that market participants view the possibility of reaching these higher thresholds as increasingly likely.
Key Takeaways The $18.2 million commitment significantly exceeds the $4 million target, suggesting strong demand in the market. MetaDAO’s platform has demonstrated its capacity to attract substantial oversubscription, consistent with previous fundraising events. Current market pricing suggests a high probability of commitments surpassing $20 million, reflecting optimistic expectations. What to Watch With three days remaining in the ICO, further developments could influence the final commitment total. Observers should watch for announcements from MetaDAO or Credible Finance regarding any changes to the fundraising cap or additional institutional commitments. The market’s pricing of over $30 million and $40 million thresholds suggests that surpassing these figures would be consistent with recent trends, potentially influencing the broader perception of Solana-based fundraising projects.
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Term Structure
Contract Odds Δ since publish Volume 24h August 31 2026 99.8% — — View market → August 31 2026 92.8% — — View market → August 31 2026 37% — — View market → August 31 2026 69.5% — — View market → August 31 2026 99.9% — — View market →
Goldman Sachs: Semiconductor industry fundamentals remain supported, while leveraged ETFs amplify volatility in tech stocks.
Goldman Sachs’ latest research report points out that the recent sharp volatility in global tech stocks is mainly driven by liquidity deleveraging triggered by highly leveraged transactions, rather than a deterioration in the semiconductor industry’s fundamentals. The U.S. investment bank noted that newly launched single-stock 2x leveraged ETFs in South Korea have amplified market volatility, with multiple leveraged ETFs tracking Samsung Electronics and SK Hynix once posting single-day declines of over 30% recently. To maintain their leverage ratios, the funds were forced to offload underlying stocks, creating a liquidity stampede feedback loop of "price drops → forced selling → deeper declines." Goldman Sachs estimates that around 62% of recent net selling by South Korean institutional investors comes from the liquidation of these ETFs. Meanwhile, the Leuthold Group pointed out that the U.S. margin balance has risen by roughly 54% over the past 12 months, entering a historically high range. Leveraged funds are heavily concentrated in the AI and semiconductor sectors, making the market structure more fragile. However, Goldman Sachs believes the semiconductor industry has not yet reached its cycle peak. The firm noted that earnings expectations for Samsung Electronics and SK Hynix have not been revised down. Limited expansion of memory chip production capacity means supply tightness is expected to persist until the second half of 2028, and the current pullback is more a position adjustment than a fundamental reversal of the industry.
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US government transfers nearly $300 million in crypto assets linked to fraud and money laundering cases involving BTC-e, Farace and others.
According to on-chain data platform Arkham’s monitoring, U.S. government-associated wallets transferred approximately $288 million in seized crypto assets to Coinbase Prime on Monday. The sum includes 2,875 BTC (valued at around $178 million) from the seized address linked to Ryan Farace’s "xanaxman" case, and 925.512 BTC (about $57 million) from the closed BTC-e exchange case—both were routed through newly created intermediate addresses before reaching Coinbase Prime. Separately, a wallet tied to the Brian Krewson money laundering case directly sent 30,007 ETH (worth roughly $53.09 million) to the platform. The transfer follows a March 2025 executive order signed by Trump, which mandates that seized Bitcoin for the strategic Bitcoin reserve should not be sold in principle. Notably, the funds’ transfer to Coinbase Prime does not signal a sale, as the platform provides services including custody, financing, and asset management. As of press time, U.S. government-related wallets hold approximately $20.65 billion in crypto assets, comprising 324,552 BTC, 28,394 ETH, and 145.5 million USDT. The latest transfer represents only a small fraction of their total holdings.
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BlackRock’s on-chain tokenized assets have reached $2.93 billion, with BUIDL accelerating its expansion into multi-chain ecosystems.
BlackRock’s U.S. institutional digital liquidity fund BUIDL has reached an on-chain assets under management (AUM) of approximately $2.93 billion, continuously hitting new all-time highs, reflecting sustained growing demand among institutional investors for tokenized U.S. Treasury products. Currently, BUIDL is deployed across multiple public blockchains including Ethereum, Avalanche, and Solana, with Securitize handling its tokenized issuance and BNY Mellon providing custody services. Data shows Ethereum remains BUIDL’s largest deployed network, holding over $1 billion in locked assets; Avalanche has seen the fastest recent growth, with its asset size doubling in a single week of July to roughly $900 million, while Solana’s on-chain assets exceed $550 million. Reports note that BUIDL primarily invests in U.S. Treasuries, repurchase agreements, and cash equivalents, maintaining a $1 net asset value (NAV) per share and offering an annualized yield of around 3% to 5%. As more DeFi protocols adopt BUIDL as collateral and liquidity assets, its use cases are expanding beyond institutional cash management to on-chain financial infrastructure. Market analysts view BUIDL’s rapid expansion as a key case of convergence between traditional finance (TradFi) and blockchain, driving continued growth in the global tokenized Real World Asset (RWA) market.
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Institutions: The strong U.S. dollar is suppressing gold prices in the short term, but may further reinforce gold’s status as a long-term reserve asset.
Gold prices have fallen roughly 25% from their year-to-date all-time high, weighed down by elevated interest rates, a strong U.S. dollar, and higher energy prices that have lifted holding costs, leaving the metal under notable short-term pressure. However, multiple market participants argue that this correction has not altered gold’s long-term investment thesis. Paul Wong, a market strategist at Sprott, attributes the recent gold decline to a stronger U.S. dollar, rising expectations of Federal Reserve rate hikes, and concentrated liquidations by quantitative funds. He notes that the current gold price drop has significantly outpaced the actual rise in the dollar and short-term interest rates, indicating that the headwinds from high rates and a strong greenback have been largely priced in. Wong points out that while a stronger dollar tends to weigh on gold in the short term, over the long run, the stronger the U.S. currency, the greater the global incentive to seek alternative reserve assets to the dollar, which in turn boosts gold’s strategic standing as a neutral reserve asset. Against a backdrop of widening global fiscal deficits, central banks’ continued gold purchases, and rising geopolitical fragmentation, gold is gradually evolving from a mere inflation hedge into a currency hedge, reserve asset, and even a potential international financial collateral. He believes that gold and the U.S. dollar could strengthen in tandem over the long term for different reasons: the dollar benefits from its core role in the global financial system, while gold benefits from the trend toward diversification of global reserve assets. However, at the cyclical level, gold prices still tend to maintain an inverse correlation with the U.S. Dollar Index.
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Wall Street is on alert for tonight's CPI "fake cool down"; bond markets have already priced in a July interest rate hike.
The US will release June CPI data at 20:30 Beijing time tonight. Market consensus expects that driven by falling gasoline prices, the overall June CPI may decline by 0.1% to 0.2% month-on-month, with its year-on-year growth rate projected to drop from 4.2% in May to 3.8%. Core CPI is forecast to rise around 0.2% month-on-month, with its year-on-year figure falling to approximately 2.8%. However, multiple Wall Street institutions argue that this inflation slowdown stems more from the pullback in energy prices, and does not mean US inflationary pressures have faded. Housing, auto insurance, travel services, and the pass-through of tariffs on goods prices may still keep core inflation sticky. Meanwhile, the bond market is further pricing in a Federal Reserve rate hike. Interest rate options data shows the implied probability of the Fed raising rates by 25 basis points in July has risen from less than 10% to around 50%, with the two-year US Treasury yield staying above 4.25%. Earlier, Fed Governor Waller stated that if core inflation rises again, a rate hike should be considered in the near term. Institutions generally believe that even if the overall CPI declines due to lower energy prices, the performance of core CPI and its sub-components will remain key to judging whether US inflation has truly peaked and the Fed’s subsequent policy path.
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Hyperliquid's contracts posted a 24-hour trading volume exceeding that of Bitcoin (BTC), making it the platform's most active asset.
On the Hyperliquid platform, the combined 24-hour trading volume of SK Hynix-related contracts SKHX and SKHY has reached $1.836 billion, surpassing BTC to become the platform’s top active asset by trading volume. Specifically, SKHX posted a 24-hour trading volume of $1.63 billion, with open interest (OI) of $635 million; SKHY recorded a 24-hour trading volume of $206 million, and its open interest stood at $101 million. As of now, SKHY still carries a roughly 26% premium over SKHX.
Circle, the company behind USD Coin (USDC), minted nearly $750 million worth of USDC on the Solana blockchain on July 13, bringing the total USDC issued on Solana in 2026 to approximately $68.26 billion, according to Onchain Lens. This significant activity highlights Solana’s growing role as a major platform for dollar-backed crypto liquidity.
USDC issuance and Solana’s positionUSDC serves a vital function in the digital asset ecosystem, facilitating trade settlement, acting as collateral in lending and derivatives, and powering tokenized real-world asset transactions. Increased minting volumes often signal shifts in capital allocation and investor sentiment across the market.
Onchain Lens reported that the latest batch of tokens was sent to the Solana address 7VHUFJHWu2CuExkJcJrzhQPJ2oygupTWkL2A2For4BmE. The growing trend of USDC issuance on Solana has been evident throughout 2026. For example, in April, Circle minted $3.25 billion of USDC on the network within a single week, executed across thirteen separate tranches of 250 million tokens each.
Circle, a global financial technology firm, is known for issuing stablecoins and providing blockchain-based payment solutions. Solana is a high-performance blockchain recognized for its speed and low-cost transactions, making it a preferred venue for both projects and traders seeking fast settlements.
Mini dictionary: Onchain Lens, a blockchain tracking and analytics platform that monitors major activity and trends in cryptocurrency networks.
Gross issuance, supply, and liquidity flowWhile $68.26 billion represents the total USDC minted on Solana this year, much of this amount does not remain on the network. According to DefiLlama, the current USDC supply on Solana is about $7.3 billion. Industry data shows that across all blockchains, total USDC supply stands near $73.5 billion.
MetricSolanaAll Blockchains2026 Gross USDC Issuance$68.26 billionn/aCurrent USDC Supply$7.3 billion$73.5 billionThis means only 10.7% of the USDC issued on Solana remains on the chain, with the remainder likely redeemed, burned, or moved to other blockchain networks as market participants adjust their strategies. Far from suggesting lost assets, these numbers indicate that liquidity is actively recycled, confirming that Solana operates as an efficient settlement layer for large-scale dollar flow.
Circle has consistently emphasized the importance of measuring USDC issuance alongside redemptions and circulating supply. The company’s transparency reports specifically distinguish between new minting, redemptions, and total supply, suggesting that issuance alone is not a complete indicator of market dynamics.
USDC is a digital dollar backed 100% by highly liquid cash and cash-equivalent assets and is always redeemable 1:1 for US dollars.
— Circle
As the ecosystem continues to evolve, these transparency measures are designed to provide greater clarity for market participants and institutional users.
Key drivers behind Solana’s USDC activitySolana remains a leading hub for digital asset trading activity, which helps explain Circle’s heavy USDC issuance on the network. Earlier this year, USDC accounted for 52% of all stablecoins held on Solana, reaching $14.7 billion in reserves. Major decentralized exchanges on Solana, including Raydium, Jupiter, and Orca, support high transaction volumes that rely on a robust stablecoin reserve for liquidity.
Circle’s expansion into institutional finance further drives USDC issuance on Solana. In June, BNY became the first institutional partner to offer direct custody and minting of USDC. The company also collaborates with global banks such as Standard Chartered, reinforcing its broader mission to integrate traditional finance with blockchain infrastructure.
The USDC reserve is primarily composed of cash and short-term US Treasury instruments, maintaining full backing and allowing users to redeem USDC 1:1 for U.S. dollars. This model has helped USDC retain its position as the world’s second-largest stablecoin by market capitalization, trailing only Tether’s USDT.
Going forward, observers are likely to focus on the speed and frequency with which newly minted USDC either stays on Solana or transitions off the chain. Solana’s prominence is increasingly measured by the scale of dollar volumes moving through its network, rather than any fixed snapshot of circulating supply.
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.
Cardano founder Charles Hoskinson (@IOHK_Charles) has pushed back at community criticism following Japanese financial giant SBI Holdings' decision to partner with Solana for its stablecoin and real-world asset (RWA) tokenization ambitions, a move that has stoked frustration among $ADA holders.
SBI Bets on Solana for Japan's Onchain Financial Market SBI Holdings and the Solana Foundation announced SBI Solana Global on July 13, 2026, to build Japan's first onchain financial market. The partnership will see SBI R3 Japan adopt the planned trade name SBI Solana Global and pursue a new growth strategy alongside shareholders SBI Holdings and Sumitomo Mitsui Financial Group.
SBI Holdings lists supporting the issuance and distribution of stablecoins, supporting the structuring and distribution of tokenized RWAs, and developing payment infrastructure for AI agents among SBI Solana's functions. According to SBI, the platform is intended to connect Japanese financial assets with global liquidity pools.
The partnership builds on Japan's existing regulatory framework for stablecoins and security token offerings, one of the more established regimes among major financial markets.
Hoskinson: Use the Treasury, Stop Expecting IOG to Do It All Japanese financial giant SBI Holdings' move onto the Solana blockchain sparked a public clash within the Cardano ecosystem, with the corporation's announcement triggering a wave of criticism among ADA holders. Some pointed to Japan's historic role in supporting Cardano as reason enough for Hoskinson and Input Output Global (IOG) to have secured a comparable deal.
Hoskinson rejected that framing. He argued that commercial deals of this kind should be funded through Cardano's onchain treasury rather than relying on IOG or himself to deliver every institutional partnership. Hoskinson stressed that if the community wants deals on the scale of SBI, it must fund commercial initiatives itself instead of demanding solutions on social media.
The conflict has exposed a systemic challenge for Cardano. While Solana operates through aggressive, centralized foundations that directly secure integrations, Cardano is attempting to live by the rules of pure democracy, where every grant must pass through lengthy rounds of voting.
For Hoskinson, it is a manifesto: decentralization means that every token holder is now responsible for the network's commercial success, not a single prominent leader. Whether the broader $ADA community accepts that argument, and whether Cardano's treasury governance is agile enough to compete for deals at the speed that institutional partners demand, remains an open question.
Sources:
CoinDesk: SBI Holdings' blockchain initiative pivots to Solana for tokenization, stablecoin issuance
U.Today: Charles Hoskinson fires back at Cardano community after Solana's Japan deal
Finance Magnates: SBI Holdings taps Solana to build Japan's institutional onchain finance market
Kylian Mbappe is fit and ready for France’s 2026 World Cup semifinal against Spain. That’s the word from coach Didier Deschamps, who confirmed his star forward has fully recovered from the minor ankle injury he picked up during the quarterfinal win over Morocco on July 9.
Mbappe was substituted during the Morocco match as a precautionary measure after tweaking his ankle. He still managed to score his eighth goal of the tournament before leaving the pitch.
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Deschamps has since confirmed there are “no problems” with Mbappe’s fitness. The striker has participated fully in training sessions ahead of the semifinal, putting to rest any speculation about his availability.
With 20 World Cup goals across his career, Mbappe has cemented himself as one of the most prolific scorers in the tournament’s history.
Meme tokens and the Mbappe effect Unauthorized Solana-based meme tokens, including ones trading under tickers like $MBAPPE and $MBAPEPE, have seen significant spikes in trading volume that correlate directly with the forward’s on-field performances. Every time Mbappe scores, these tokens light up.
These tokens don’t represent ownership, royalties, or any contractual relationship with Mbappe. They represent the collective enthusiasm of traders who want to ride the narrative wave of the World Cup’s most electrifying player.
Why crypto traders should think twice These tokens lack any form of regulatory oversight. They are unauthorized, meaning Mbappe’s camp could issue a cease-and-desist or public disavowal at any moment, which would likely crater prices instantly. There is no underlying asset, no revenue stream, no governance structure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
SBI Holdings and the Solana Foundation have announced a strategic partnership to develop Japan-originated on-chain financial markets.
As part of this agreement, the initiative will bring the Solana Foundation into the newly renamed SBI Solana Global. This will be, alongside SBI and Sumitomo Mitsui Financial Group (SMFG), one of Japan’s three largest banks.
The partnership will initially target JPY stablecoins, tokenized real-world assets, cross-border payments, and institutional services. It will also combine SBI’s regulatory expertise with Solana’s high-speed, low-cost infrastructure.
Source: SBI Holdings Rather than positioning blockchain against traditional finance, the initiative aims to modernize regulated financial markets. If the collaboration succeeds, it could strengthen Japan’s role as a leading hub for institutional on-chain finance across Asia.
Meanwhile, Japan is advancing regulated yen stablecoins to strengthen its digital financial infrastructure. The initiative aims to support secure, compliant blockchain-based financial services.
The partnership comes shortly after SBI advanced its JPYSC project, Japan’s first trust bank-backed yen stablecoin. These moves highlight the group’s broader push to expand regulated blockchain-based financial services.
JPY Stablecoins anchor the initiative This strategy places JPY stablecoins at the center of SBI and Solana’s long-term vision for regulated on-chain finance. Rather than serving retail payments, these assets will support institutional settlement, tokenized real-world assets, and cross-border transactions.
It also provides both familiar yen-denominated liquidity and reduces dependence on traditional settlement rails. The sustained expansion of institutional wallet activities using Solana and the continued use of their stablecoins are evidence that institutional adoption will continue to grow.
Needless to say, this has boosted the potential for more financial organizations to move their regulated payment flows to blockchain-based infrastructure. Even so, long-term success will depend on sustained transaction growth instead of issuance alone.
Ultimately, Japan’s regional ambitions now depend on execution, not policy alone. Cross-border payment activity must continue expanding.
Sustained institutional adoption and deeper liquidity will determine the partnership’s long-term impact. Stronger tokenized asset growth could position Japan as Asia’s leading regulated on-chain finance hub.
Final Summary SBI’s regulated on-chain strategy places JPY stablecoins at the center of Japan’s digital finance expansion. Institutional adoption and cross-border usage will determine the long-term success of Japan’s on-chain finance strategy.
SBI Holdings and the Solana Foundation announced a strategic collaboration on July 13 to build what they called an on-chain financial market originating from Japan, according to a joint statement filed by SBI Holdings.
As part of the deal, SBI R3 Japan, an existing subsidiary jointly owned by SBI Holdings and Sumitomo Mitsui Financial Group (SMFG), will take on the working name SBI Solana Global and pursue what the companies described as a new growth strategy, with the Solana Foundation acquiring an equity stake in the company alongside its existing shareholders.
SBI Solana Global plans to build its business around deployment on the Solana network, supporting the issuance and distribution of stablecoins including JPYSC, the yen-denominated stablecoin SBI launched last month; the structuring and distribution of tokenized real-world assets such as corporate bonds, commercial paper, funds and real estate; cross-border settlement infrastructure; on-chain financial services for institutional investors; and payment infrastructure built for the AI-agent era.
The companies said Japan's deep pools of financial assets and advanced legal framework for digital assets make it a starting point to connect Solana's network to markets across Asia and globally.
The tie-up extends a run of digital asset dealmaking SBI has pursued in rapid succession this year. The conglomerate acquired Japanese crypto exchange Bitbank for close to $289 million in June, became the sole investor in risk-management firm Gauntlet's $125 million Series C, and led EDX Markets' $76 million Series C the week prior. Layered together, the moves point to SBI positioning itself across multiple layers of digital market infrastructure at once: exchange access through Bitbank, institutional trading through EDX, risk tooling through Gauntlet, and now a dedicated vehicle for stablecoin issuance and real-world asset tokenization through SBI Solana Global.
The Solana Foundation confirmed the partnership in a post on X, describing SMFG as a globally systemically important bank and framing the deal as bringing "RWA and stablecoin markets from Japan to the world." Neither party disclosed the size of the Solana Foundation's stake in SBI Solana Global or a timeline for when the venture's products will go live.
Major altcoins in the crypto market, such as Ripple (XRP), Cardano (ADA), and Solana (SOL), are trading in the red on Tuesday, extending their 2% to 3% decline from the previous day. The technical outlook for XRP, ADA, and SOL shows a near-term bearish bias, with prices trending below their respective 50-day Exponential Moving Averages (EMAs).
XRP remains vulnerable to deeper lossesXRP nears the $1.00 psychological threshold at press time on Tuesday, maintaining a steady decline as the 50-day EMA and a declining resistance trendline capped recovery around $1.18 on July 4. XRP maintains a clear bearish configuration, heading toward the recent swing low of $1.00 from June 26.
From a technical perspective, a potential slip below $1.00 could target the 127.2% and 161.8% Fibonacci extension levels at $0.94 and $0.86, respectively, measured over the $1.29 to $1.00 downswing.
Momentum is losing strength on the daily chart, with the Relative Strength Index (RSI) at 39, reflecting a downward trend, while the Moving Average Convergence Divergence (MACD) risks crossing below its signal line as buying pressure wanes.
XRP/USDT daily price chart.On the topside, initial resistance is seen at the overhead trendline near the 50% retracement at $1.14, reinforced by the 50-day EMA at $1.15.
Cardano at risk of erasing early July gainsCardano trades in the red on Tuesday, maintaining a near-term decline over the last 10 days. The 50-day EMA at $0.1802, well below the 200-day EMA at $0.2812, keeps the altcoin capped in the short term.
The RSI at 40 has dipped below its midline, hinting at renewed downside momentum, while the MACD and signal line risk a bearish crossover amid flattening histogram bars.
On the downside, the swing low at $0.1385 from June 26 emerges as the crucial support level in sight.
ADA/USDT daily price chart.Looking up, the 50-day EMA at $0.1802 remains a key dynamic barrier, guarding the upside to the $0.2000 psychological threshold.
Solana drops below its 50-day EMA amid mounting selling pressureSolana trades below $75.00 at press time on Tuesday, keeping a bearish near-term tone as it holds beneath the 50-day EMA at $76.66 and the 200-day EMA at $97.65. From a technical perspective, the key support for SOL is at the $67.50 horizontal level, which helped trigger a rebound on June 26.
The MACD has crossed below its signal line, triggering a fresh wave of bearish histograms, while the RSI at 46 falls below the midline. Taken together, they suggest waning buying pressure as sellers regain strength.
SOL/USDT daily price chart.On the flip side, initial resistance is at the 50-day EMA near $76.63, followed by the longer-term 200-day EMA at $97.65.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Solana and SBI Holdings are entering a strategic partnership to bring advancement in Japan’s stablecoin and Real World Asset (RWA) ecosystem. Solana is a high-speed Layer 1 blockchain built to support decentralized applications (dApps). SBI Holdings acts as a Japanese financial bridge between traditional banking and digital assets. The basic purpose of this integration is to build Japan’s first on-chain financial market for stablecoins and tokenized real-world assets (RWAs).
SBI Holdings brings regulatory expertise, financial infrastructure, and institutional relationships; on the other hand, Solana Foundation aids the growth of the Solana blockchain ecosystem. Both partners have specialized abilities to minimize the dependency on traditional banking systems and take users to the peaks of digital and instant banking.
SBI Solana Global to Drive Institutional Adoption of Stablecoins and RWAs The joint venture of SBI Holdings and Solana Foundation will see SBI R3 Japan adopt the planned trade name SBI Solana Global and resume a new growth strategy with shareholders and Sumitomo Mitsui Financial Group. This news is confirmed by the company’s statement on Monday.
Furthermore, SBI Solana Global will help the issuance and division of stablecoins such as JPYSC, the group’s yen-denominated stablecoin, with the structuring and distribution of tokenized real-world assets. These RWAs include corporate bonds, commercial paper, funds, and real estate. This amalgam helps to facilitate on-chain financial services for institutional investors and develop payment infrastructure for AI agents.
Bring Blockchain Innovation to Japan’s Financial Markets The alliance of Solana and SBI Holdings combines traditional financial infrastructure with Solana’s blockchain technology. This integration plays an important role in the development of Japan in terms of stablecoins and RWAs as a daily-life utility asset and for payment. Digital assets continuously need protection, transparency, and scalability for effective and better ownership purposes.
In the history of Japan, this is the first strategic step in the development of a trusted and secure system for stablecoins and RWAs. Japanese people will be able to enjoy an advanced experience and securely deal with cryptocurrency matters. This collaboration is fully focused on providing advanced-level infrastructure for the considerable growth of the Japanese people. The world is changing drastically and always demands improvement and adaptability to innovation.
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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.
Cardano founder Charles Hoskinson has defended the ecosystem’s founding entities, particularly EMURGO, against criticism over their inability to secure major institutional partnerships.
The discussion comes after Japanese financial giant SBI partnered with Solana to develop on-chain financial markets in Japan. The announcement prompted some Cardano community members, including Depinity co-founder Welf Brandolf, to question why the network failed to secure a similar collaboration despite its longstanding ties to Japan.
However, Hoskinson rejected that argument. He acknowledged that Cardano built a strong presence in Japan during its early years but emphasized that historical relationships alone do not translate into commercial partnerships.
EMURGO Has No Mandate to Secure Commercial Deals: Hoskinson According to him, attracting institutional collaborations requires dedicated business development teams with clear objectives and funding.
Furthermore, Hoskinson stressed that neither EMURGO nor the Cardano Foundation is contractually obligated to negotiate or deliver commercial deals on behalf of the ecosystem.
He argued that if the community believes Cardano needs stronger business development efforts, it should assign that responsibility to an organization specifically funded and mandated to pursue partnerships.
Treasury Should Fund Cardano’s Commercial Expansion The latest comments come amid growing frustration over Cardano’s absence from several major industry initiatives.
For example, the network was excluded from the OpenUSD (OpenUSD) stablecoin initiative, which brought together major blockchain companies, including Ripple, Solana, Coinbase, Fireblocks, and Aave.
As criticism intensified, Hoskinson accused some Cardano Delegate Representatives (DReps) of blocking treasury proposals designed to accelerate the ecosystem’s commercialization. He argued that despite Input Output Global (IOG) submitting proposals aimed at expanding Cardano’s commercial reach, DReps have repeatedly voted them down.
Boosting Cardano Commercialization Efforts In his latest remarks, Hoskinson once again encouraged the community to take advantage of Cardano’s decentralized governance model by leveraging the network’s on-chain treasury.
He proposed creating and funding a dedicated organization responsible for commercial representation. In his view, the entity would have a clear mandate to negotiate partnerships, engage enterprise clients, and expand Cardano’s presence in strategic markets.
Meanwhile, Hoskinson’s defense of EMURGO also comes as the company continues to prioritize recovery efforts following the SecondFi wallet security incident.
After the attack, EMURGO stepped back from its role within the Pentad governance body to focus on supporting the recovery process and assisting the broader Cardano ecosystem. The company has since concentrated its resources on addressing the aftermath of the incident rather than pursuing broader ecosystem initiatives.
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.
Goldman Sachs: Semiconductor industry fundamentals remain supported, while leveraged ETFs amplify volatility in tech stocks.
Goldman Sachs’ latest research report points out that the recent sharp volatility in global tech stocks is mainly driven by liquidity deleveraging triggered by highly leveraged transactions, rather than a deterioration in the semiconductor industry’s fundamentals. The U.S. investment bank noted that newly launched single-stock 2x leveraged ETFs in South Korea have amplified market volatility, with multiple leveraged ETFs tracking Samsung Electronics and SK Hynix once posting single-day declines of over 30% recently. To maintain their leverage ratios, the funds were forced to offload underlying stocks, creating a liquidity stampede feedback loop of "price drops → forced selling → deeper declines." Goldman Sachs estimates that around 62% of recent net selling by South Korean institutional investors comes from the liquidation of these ETFs. Meanwhile, the Leuthold Group pointed out that the U.S. margin balance has risen by roughly 54% over the past 12 months, entering a historically high range. Leveraged funds are heavily concentrated in the AI and semiconductor sectors, making the market structure more fragile. However, Goldman Sachs believes the semiconductor industry has not yet reached its cycle peak. The firm noted that earnings expectations for Samsung Electronics and SK Hynix have not been revised down. Limited expansion of memory chip production capacity means supply tightness is expected to persist until the second half of 2028, and the current pullback is more a position adjustment than a fundamental reversal of the industry.
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US government transfers nearly $300 million in crypto assets linked to fraud and money laundering cases involving BTC-e, Farace and others.
According to on-chain data platform Arkham’s monitoring, U.S. government-associated wallets transferred approximately $288 million in seized crypto assets to Coinbase Prime on Monday. The sum includes 2,875 BTC (valued at around $178 million) from the seized address linked to Ryan Farace’s "xanaxman" case, and 925.512 BTC (about $57 million) from the closed BTC-e exchange case—both were routed through newly created intermediate addresses before reaching Coinbase Prime. Separately, a wallet tied to the Brian Krewson money laundering case directly sent 30,007 ETH (worth roughly $53.09 million) to the platform. The transfer follows a March 2025 executive order signed by Trump, which mandates that seized Bitcoin for the strategic Bitcoin reserve should not be sold in principle. Notably, the funds’ transfer to Coinbase Prime does not signal a sale, as the platform provides services including custody, financing, and asset management. As of press time, U.S. government-related wallets hold approximately $20.65 billion in crypto assets, comprising 324,552 BTC, 28,394 ETH, and 145.5 million USDT. The latest transfer represents only a small fraction of their total holdings.
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Institutions: The strong U.S. dollar is suppressing gold prices in the short term, but may further reinforce gold’s status as a long-term reserve asset.
Gold prices have fallen roughly 25% from their year-to-date all-time high, weighed down by elevated interest rates, a strong U.S. dollar, and higher energy prices that have lifted holding costs, leaving the metal under notable short-term pressure. However, multiple market participants argue that this correction has not altered gold’s long-term investment thesis. Paul Wong, a market strategist at Sprott, attributes the recent gold decline to a stronger U.S. dollar, rising expectations of Federal Reserve rate hikes, and concentrated liquidations by quantitative funds. He notes that the current gold price drop has significantly outpaced the actual rise in the dollar and short-term interest rates, indicating that the headwinds from high rates and a strong greenback have been largely priced in. Wong points out that while a stronger dollar tends to weigh on gold in the short term, over the long run, the stronger the U.S. currency, the greater the global incentive to seek alternative reserve assets to the dollar, which in turn boosts gold’s strategic standing as a neutral reserve asset. Against a backdrop of widening global fiscal deficits, central banks’ continued gold purchases, and rising geopolitical fragmentation, gold is gradually evolving from a mere inflation hedge into a currency hedge, reserve asset, and even a potential international financial collateral. He believes that gold and the U.S. dollar could strengthen in tandem over the long term for different reasons: the dollar benefits from its core role in the global financial system, while gold benefits from the trend toward diversification of global reserve assets. However, at the cyclical level, gold prices still tend to maintain an inverse correlation with the U.S. Dollar Index.
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Wall Street is on alert for tonight's CPI "fake cool down"; bond markets have already priced in a July interest rate hike.
The US will release June CPI data at 20:30 Beijing time tonight. Market consensus expects that driven by falling gasoline prices, the overall June CPI may decline by 0.1% to 0.2% month-on-month, with its year-on-year growth rate projected to drop from 4.2% in May to 3.8%. Core CPI is forecast to rise around 0.2% month-on-month, with its year-on-year figure falling to approximately 2.8%. However, multiple Wall Street institutions argue that this inflation slowdown stems more from the pullback in energy prices, and does not mean US inflationary pressures have faded. Housing, auto insurance, travel services, and the pass-through of tariffs on goods prices may still keep core inflation sticky. Meanwhile, the bond market is further pricing in a Federal Reserve rate hike. Interest rate options data shows the implied probability of the Fed raising rates by 25 basis points in July has risen from less than 10% to around 50%, with the two-year US Treasury yield staying above 4.25%. Earlier, Fed Governor Waller stated that if core inflation rises again, a rate hike should be considered in the near term. Institutions generally believe that even if the overall CPI declines due to lower energy prices, the performance of core CPI and its sub-components will remain key to judging whether US inflation has truly peaked and the Fed’s subsequent policy path.
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Hyperliquid's contracts posted a 24-hour trading volume exceeding that of Bitcoin (BTC), making it the platform's most active asset.
On the Hyperliquid platform, the combined 24-hour trading volume of SK Hynix-related contracts SKHX and SKHY has reached $1.836 billion, surpassing BTC to become the platform’s top active asset by trading volume. Specifically, SKHX posted a 24-hour trading volume of $1.63 billion, with open interest (OI) of $635 million; SKHY recorded a 24-hour trading volume of $206 million, and its open interest stood at $101 million. As of now, SKHY still carries a roughly 26% premium over SKHX.
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Trump plans to strengthen control over the Strait of Hormuz, while the U.S. Strategic Petroleum Reserve has fallen to its lowest level since 1983.
US President Donald Trump said the U.S. should control and operate the Strait of Hormuz, and is considering charging passing vessels a fee equivalent to 20% of the value of their cargo to compensate for the cost of maintaining security in the strait. Separately, Trump noted that the U.S. may continue military operations against Iran, with U.S. forces carrying out airstrikes on Iran for the third consecutive night. Analysts pointed out that against the backdrop of the Strait of Hormuz’s navigation not returning to normal and the U.S. being in its summer peak travel season, the U.S. Strategic Petroleum Reserve (SPR) and commercial crude oil inventories will likely continue to decline, further supporting rises in international oil prices. In the week ending July 3, the U.S. SPR fell to 319.5 million barrels, the lowest level since 1983, and only slightly above the recommended safety floor of around 250 million barrels. Market players believe that if the Strait of Hormuz remains disrupted for a long time, even with relatively sufficient domestic crude oil supply in the U.S., global benchmark crude oil prices may continue to rise, further pushing up inflationary pressure and increasing the likelihood that the Federal Reserve will maintain high interest rate policies. Iranian Foreign Minister Abbas Araghchi responded that any party ensuring safe passage through the Strait of Hormuz should be compensated, but deemed the 20% fee rate too high.
Spain has recorded the largest fan token burn of the FIFA World Cup 2026 after more than 1.16 million SPAIN Fan Tokens were permanently removed from circulation following the team’s quarter-final victory.
Summary
Spain burned 1.16 million SPAIN Fan Tokens after defeating Belgium in the World Cup quarter-finals. The Burn to Glory campaign has now removed nearly 3 million SPAIN tokens from circulation. Chiliz and LBank expanded fan token trading with new futures products and live trading competitions. According to Chiliz, Spain’s 2-1 win over Belgium triggered the destruction of 1,161,234 SPAIN Fan Tokens under its Burn to Glory campaign, reducing the token’s total supply to 27.25 million. The company said the burned tokens were worth about $649,050 and pushed Spain to the top of the tournament’s burn leaderboard with nearly three million tokens removed so far.
With Spain now through to the semi-finals as the first World Cup affiliate among Chiliz’s national team partners, another victory over France would take the cumulative burn above the three million token milestone, according to the campaign’s mechanics.
Spain extends its lead in Chiliz’s Burn to Glory campaign Burn to Glory ties token burns to on-field success, permanently removing part of a participating national team’s fan token supply after qualifying wins. Spain has benefited the most from the mechanism during this year’s tournament, while Belgium remains second on the leaderboard despite leaving the competition.
Chiliz said Belgium’s quarter-final defeat did not change its standing as the second-largest contributor to the campaign, with about 870,000 BELG Fan Tokens already burned during the World Cup.
Argentina has also continued climbing the rankings after beating Switzerland to reach the final four. According to Chiliz, a total of 160,000 ARG Fan Tokens have been burned across the tournament. The company added that Argentina’s treasury burn allocation will increase from 5% to 7.5% as a result of its semi-final qualification.
Portugal, which exited after losing to Spain in the Round of 16, also took part in the campaign. Chiliz reported that 208,000 POR Fan Tokens were permanently removed before the team’s elimination.
Fan token trading expands beyond tournament results Alongside the burn campaign, Chiliz has continued adding trading features around fan tokens as interest in the World Cup ecosystem grows.
Crypto exchange LBank has introduced perpetual futures for Argentina and Portugal fan tokens while announcing plans to list futures contracts for several major football club tokens. According to the exchange, upcoming additions include tokens linked to Atletico Madrid, Barcelona, Juventus, Paris Saint-Germain, Manchester City, Galatasaray and Arsenal.
Elsewhere, Chiliz has launched live weekly trader competitions through its Vibe Trading and Battle Trade products, allowing participants to compete while World Cup matches are being played.
Away from the tournament, the company is also preparing its next expansion for the Socios platform. Following regulatory approval in the United States, Chiliz said it is working toward launching college sports fan tokens on the app, with the rollout scheduled for the 2026 college sports season.
Earlier in the tournament, the Socios team also organized a Token Hunt promotion that allowed users to collect SPAIN and BELG Fan Tokens along with CHZ rewards before the latest Burn to Glory milestones were reached.
Together, those initiatives show that Chiliz has continued building activity around fan tokens beyond match-day price movements, while tying token supply changes directly to results on the pitch.
Shiba Inu (SHIB) extends its losses, trading below $0.0000042 on Tuesday, pointing to four consecutive days of correction since last week. Weakening on-chain data and negative derivatives metrics support a bearish bias. In addition, risk-off sentiment amid rising US-Iran tensions suggest a deeper sell-off is possible for the meme coin.
Fading interest among SHIB investorsSantiment’s Social Dominance metric for Shiba Inu supports a bearish outlook. The index measures the share of SHIB-related discussions across the cryptocurrency media. It has fallen sharply since a high on July 12, now at 0.014% on Tuesday, nearing the lows seen in early July. This fall indicates fading market interest and sentiment among SHIB investors.
SHIB social dominance chart. Source: SantimentDerivatives metrics show bearish biasIn the derivatives markets, traders are supporting a negative outlook for the meme coin. SHIB’s long-to-short ratio stands at 0.91 on Tuesday, nearing the lowest level over a month. This ratio, being below 1, reflects bearish sentiment in the market, as more traders are betting the asset’s price will fall.
SHIB long-to-short ratio chart. Source: CoinglassIn addition, the funding rate remains negative at -0.0136% on Tuesday, indicating that shorts are paying the longs and suggesting bearish sentiment.
SHIB funding rates chart. Source: CoinglassApart from bearish on-chain and derivatives metrics, rising tensions between the US and Iran this week have dampened traders’ risk appetite. As a highly speculative meme coin, SHIB remains vulnerable to shifts in investor sentiment, increasing the likelihood of a deeper correction.
Shiba Inu Price Forecast: Weakening momentum indicatorsShiba Inu price extends its losses, slipping below $0.0000042 on Tuesday, correcting over 5% in the last three days after facing rejection from the descending trendline (drawn by joining multiple highs since mid-May).
If SHIB continues its correction, it could extend the decline toward the yearly low at $0.0000040.
The Relative Strength Index (RSI) on the daily chart reads 31, pointing downward toward oversold conditions and indicating strengthening bearish momentum. The Moving Average Convergence Divergence (MACD) indicator lines are about to flip a bearish crossover, further supporting the negative outlook.
SHIB/USDT daily chartOn the other hand, if SHIB recovers, it could extend the advance toward the descending trendline around $0.0000044.
Binance has released its 44th proof-of-reserves report, showing that customer Bitcoin holdings increased during June while Ethereum and Tether balances declined.
Summary
Binance users raised Bitcoin holdings 1.22%, adding 7,715 BTC during June, the latest snapshot showed. Ethereum and Tether balances declined, while Binance continued publishing monthly reserve data for customer verification. Reserve snapshots show account balances, but they cannot explain whether users bought, sold, or withdrew. The report used a snapshot taken on July 1 and compared the figures with customer balances recorded on June 1.
Customer Bitcoin holdings rose 1.22% to about 640,000 BTC, an increase of 7,715 BTC. Ethereum holdings fell 1.41% to around 4.08 million ETH, a decline of 58,591 ETH. Customer Tether holdings dropped 1.51% to about 33.7 billion USDT, falling by roughly 510 million USDT.
Binance customer Bitcoin holdings continue rising The July figures extend the rise in customer Bitcoin balances reported one month earlier. Binance users added 25,838 BTC in May, lifting their total holdings by 4.26% to about 630,000 BTC in the exchange’s 43rd proof-of-reserves report.
The latest increase was smaller than the previous month’s gain, but it kept customer BTC balances moving higher. The report does not show whether the change came from purchases, deposits, transfers between Binance services, or movements from other assets. It records balances at one point in time rather than individual customer activity.
Ethereum and USDT balances decline Ethereum moved in the opposite direction after recording a strong increase in the previous report. Customer ETH holdings had risen 10.17% in May to about 4.14 million ETH. The July snapshot showed that the total fell by 58,591 ETH during June.
USDT balances also declined for a second monthly report. Binance users held about 34.3 billion USDT in the June 1 snapshot after balances fell by roughly 460 million tokens in May. The latest decrease brought the total to about 33.7 billion USDT. Lower stablecoin balances do not confirm that users converted USDT into Bitcoin or withdrew funds.
A similar pattern recently appeared at other major exchanges. As reported by crypto.news, Bybit and OKX recorded higher customer Bitcoin holdings while USDT balances fell in their latest reserve snapshots. However, the reports did not identify the reasons behind the balance changes.
Binance says customer assets remain backed Binance states on its proof-of-reserves page that it holds customer assets on a 1:1 basis, along with additional reserves. The exchange uses Merkle Trees and zero-knowledge proofs to let customers check whether their account balances were included in the total liabilities covered by each report.
A proof-of-reserves report can show whether listed wallets hold assets linked to customer balances at the time of a snapshot. However, it does not provide a complete financial audit or explain every off-chain liability. A recent proof-of-reserves explainer noted that useful disclosures should remain recent, frequent and matched against customer liabilities.
The figures should therefore be read as a record of asset backing and customer balances on a specific date. They do not show the exchange’s complete financial position or the reasons customers moved assets between accounts, platforms or private wallets.
Report follows braoder changes at Binance The latest reserve report arrived after a month of active derivatives trading. Binance recorded about $1.63 trillion in futures trading volume during June, its highest monthly total of 2026, according to CryptoQuant data.
Binance also introduced service changes for some European users when the European Union’s MiCA transition ended on July 1. As previously reported, the exchange said affected users could continue using options already communicated to them, including withdrawals where available. The date matched the snapshot used for the latest reserve report.
Earlier reserve rankings placed Binance ahead of other major exchanges. As reported by crypto.news, CoinMarketCap data ranked the platform first in January 2026 with about $155.6 billion in proof-of-reserve assets. The July report adds a new monthly view of customer balances, with BTC rising while ETH and USDT moved lower.
SoftBank's Masayoshi Son: AI boom will require $5 trillion in annual investment.
SoftBank Group founder Masayoshi Son stated that by 2040, global artificial intelligence (AI) infrastructure will require $5 trillion in annual investment to support the expansion of data centers, power supplies, and humanoid robots, thereby driving the shift from a "human-centric" work model to a new paradigm. He pointed out that as AI evolves into Artificial Superintelligence (ASI), the revenue generated will justify these massive expenditures. "AI will revolutionize our lives—and this transformation will bring profits," Son said. (Jinshi)
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South Korea's four government departments will hold a meeting on Thursday to discuss the risks of single-stock leveraged ETFs.
According to a report by The Korea Times, South Korea’s financial regulators will hold a high-level meeting on Thursday to discuss risks and countermeasures for single-stock leveraged ETFs. The meeting is expected to take place under the framework of the "F4 Meeting" — the South Korean government’s macroeconomic and financial issue coordination mechanism — with officials from the Ministry of Economy and Finance, Financial Services Commission, Financial Supervisory Service, and the Bank of Korea in attendance. Recently, volatility in South Korea’s stock market has continued to intensify, drawing growing attention from regulators and market participants to single-stock leveraged ETFs. Stakeholders believe these products have become a key factor driving sharp stock price fluctuations. An official with knowledge of the matter said regulators have been coordinating relevant plans internally in recent days, but no final policy direction has been set yet. Possible measures under market discussion include raising margin requirements, limiting daily price fluctuation ranges, and adjusting leverage multiples. However, regulatory officials noted that these measures may only provide temporary relief and cannot fundamentally resolve the structural causes of market volatility. (Jinshi)
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Binance will conduct wallet maintenance for the Ethereum (ETH) network on July 16.
According to an official announcement, Binance will conduct wallet maintenance for the Ethereum network (ETH) at 14:00 UTC+8 on July 16, 2026. To facilitate this maintenance, Binance will suspend ETH network deposit and withdrawal services starting at 13:55 UTC+8 on the same day. The maintenance is expected to take 1 hour, and deposit and withdrawal services will automatically resume after completion.
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Over 320,000 retail leveraged accounts in South Korea were forcibly liquidated by securities firms, with some investors still owing funds to their brokers after the liquidations.
U.S. financial blog portal ZeroHedge noted in a post that as of July 13, South Korea had a total of 1.2 million retail leverage accounts that triggered margin calls, with approximately 320,000 to 360,000 of these accounts fully liquidated by securities firms, and some accounts still owed funds to the firms following the liquidations.
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NOXA: Web domain offline, new ENS-based interface set to launch soon
Robinhood Chain’s Launchpad platform NOXA announced that its web domain is currently offline. The team is testing a new ENS-based frontend interface, which is nearly complete. Once the new interface goes live, creators will be able to claim their creator fees via the frontend again. NOXA serves as the launchpad for CASHCAT, with cumulative protocol fees exceeding $14.5 million.
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Margin call amounts in South Korea's stock market exceeded 324 billion won last week.
South Korea's stock market has seen intensified volatility recently, with risks from leveraged trading starting to surface en masse. According to data from FreeSIS, the Korea Financial Investment Association, the total value of actual reverse transactions conducted by South Korean securities firms for unsettled funds last week (July 6 to July 10) stood at approximately 324.095 billion won. This is about 32% higher than the average of roughly 244.921 billion won over the prior five weeks, marking a week of notable elevated pressure. Compared with the relatively calm week of June 15 to June 19, last week’s figure was roughly five times that level. In terms of daily data, forced liquidation pressure in South Korea’s stock market intensified significantly on July 9. That day’s actual reverse transaction value hit around 142.197 billion won, accounting for 10.2% of unsettled funds, the highest of the week. On July 10, the amount remained at approximately 81.613 billion won, with a 5.7% share. The three preceding trading days saw figures of 39.698 billion won, 31.741 billion won, and 28.846 billion won respectively. The so-called "reverse transactions" refer to cases where, after investors buy stocks using margin or unsettled funds, if they fail to top up funds in a timely manner, securities firms will forcibly sell the relevant stocks in accordance with rules. This data is not equivalent to the number of margin liquidation cases, but it reflects the scale of forced liquidation of leveraged accounts during market downturns. Analysts note that when the index experiences consecutive corrections and individual stock declines widen, margin accounts and short-term trading accounts are more likely to face margin calls or forced liquidation pressure. If market sentiment continues to weaken, reverse transactions could further amplify intraday volatility, creating a vicious cycle of "declines → forced liquidations → further declines".
Apple is building a chip that could hold 1.5 terabytes of unified memory. That’s not a typo, and it’s not a spec for a data center rack. It’s for a desktop computer.
According to Mark Gurman’s Bloomberg Power On newsletter from July 12, the M7 Ultra is slated for a 2028 release and aims to deliver AI performance “closer to” Nvidia’s Blackwell-class accelerators.
What Apple is actually building The M7 Ultra’s 1.5TB unified memory target represents roughly double the capacity of the current M5 Ultra. To put that in perspective, it matches the highest RAM configuration Apple ever offered on its 2019 Intel Mac Pro.
Unified memory lets the CPU and GPU share the same memory pool, which eliminates the bottleneck of shuttling data between separate chips. For running large language models and AI inference workloads, that architectural choice matters enormously.
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The M7 Pro and Max variants are expected to arrive by the end of 2027, with the Ultra following in 2028. Apple’s silicon timeline is accelerating: the M7 is projected to tape out just six months after the M6. The research also notes Apple is strategically skipping specific high-end M6 variants to expedite the launch of a dedicated AI-optimized M7 line.
The full 1.5TB configuration depends on high-bandwidth memory supply chains cooperating. Memory chip shortages have already forced Apple to limit configurations on recent Mac Studio models.
Why crypto and DeFi builders should care Running a 70-billion-parameter model locally currently requires specialized hardware or creative quantization tricks. A machine with 1.5TB of unified memory could theoretically run models that today demand multi-GPU server setups.
Projects building decentralized GPU networks, think Render, Akash, and similar protocols, have historically relied on Nvidia hardware as their backbone. If Apple silicon reaches competitive AI performance at potentially lower power consumption, it introduces an alternative hardware path for node operators and inference providers.
The Nvidia question Nvidia’s Blackwell architecture represents the bleeding edge, and Apple positioning the M7 Ultra as “closer to” that benchmark is both ambitious and carefully hedged.
Nvidia’s pricing power directly affects the economics of decentralized compute. When Nvidia GPUs are expensive and scarce, the cost per inference on decentralized networks rises, which flows through to token valuations, staking yields, and protocol competitiveness.
What to watch from here High-bandwidth memory shortages have been a persistent theme across the semiconductor industry, affecting everything from gaming GPUs to AI accelerators. If those shortages persist into 2028, the M7 Ultra’s most impressive configuration might ship in limited quantities.
Apple’s M7 Pro and Max chips arriving in late 2027 will serve as an early signal. Their memory capacities, AI benchmark results, and pricing will telegraph what the Ultra tier can realistically deliver.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
OpenAI’s GPT-5.6 Sol Ultra is having quite the first week. The model, which launched on July 9 as part of the broader GPT-5.6 family, has already been credited with generating a complete proof for the Cycle Double Cover Conjecture, a famously unsolved problem in graph theory. It completed the task in under one hour using 64 parallel subagents.
Naturally, the crypto world responded the only way it knows how: someone launched a meme token.
What GPT-5.6 Sol Ultra actually did The GPT-5.6 model family includes three tiers: Terra, Luna, and the flagship Sol. The Sol Ultra mode is the heavy hitter, distinguished by its parallel multi-agent reasoning capability.
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On July 10, just one day after general availability, Sol Ultra tackled the Cycle Double Cover Conjecture. For the non-mathematicians in the room: this is a problem in graph theory that has stumped researchers for decades. The conjecture asks whether every graph without a specific type of edge (called a “bridge”) can have its edges covered by a collection of cycles where each edge appears exactly twice.
The prompt and resulting proof were made publicly accessible, which is notable. OpenAI is clearly signaling confidence in the output’s validity by inviting peer scrutiny rather than keeping it behind closed doors.
Sol Ultra scored 91.9% on Terminal-Bench 2.1, a benchmark designed to measure advanced reasoning. Pricing for the Sol tier sits at $5 per million input tokens and $30 per million output tokens, with Terra and Luna offering lower price points for less demanding workloads.
The Erdős connection, and the confusion Here’s where things get murky. Claims have circulated that Sol Ultra solved “Erdős problem #793” using an improved construction. The Erdős problems are a legendary collection of open questions posed by Hungarian mathematician Paul Erdős, many carrying cash bounties for solutions.
What’s verified is that earlier 2026 AI models from OpenAI worked on the Erdős planar unit distance problem. There is no confirmed, independently verified connection between GPT-5.6 Sol Ultra and a specific Erdős problem numbered 793.
The Cycle Double Cover Conjecture proof is the documented achievement. Everything else is, at this point, unverified.
Enter the meme token A Solana-based meme token called $5.6SolUltr appeared almost immediately after the GPT-5.6 launch. The token has no disclosed utility beyond its namesake association with OpenAI’s model. It does not appear to be affiliated with OpenAI in any capacity. The token shows near-zero trading volume and negligible liquidity since inception.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The launch of Robinhood Chain on an Ethereum layer-2 network is bullish for long-term value and network effects, argue analysts.
Robinhood Chain has generated $816,000 in gross revenue since launching on July 1, with 89% captured by Robinhood, 10% by Arbitrum as middleware, and only 0.15%, or $1,538, paid to Ethereum for settlement, which doesn’t sound great.
Robinhood Chain is an EVM-compatible Arbitrum-based layer-2 network that uses ETH as its native gas token, but Ethereum is not seeing any revenue benefits yet.
Bullish or Bearish for Ethereum? Lorenzo Valente, director of research at Ark Invest, said, “If your thesis is ‘ETH is money,’ Robinhood building here is ultra bullish.” “More activity, more ETH collateral, more lindyness,” he added.
However, for those who believe ETH is a revenue-generating asset, “this is the ultra-bear case.” He added that Robinhood was never going to build on Solana, Sui, or any “monolithic layer-1” because it wants stack customization.
“They want to be landlords, not renters. Ethereum won this deal on merit. It’s just not pricing it right … Ethereum sells the most valuable settlement layer in crypto at marginal cost.”
Valente said that a healthier split would be 75% to Robinhood, 10% to Arbitrum, and 15% to Ethereum.
The Robinhood Chain is the cleanest case study of what happened to ETH’s economics over time.
Since inception, @RobinhoodApp Chain has grossed ~$816K in revenue.@Arbitrum, the middleware provider, takes 10%: ~$80K.
Arbitrum then pays Ethereum for settlement: $1,538.
The… pic.twitter.com/Jc8k4yi60M
— Lorenzo Valente (@LorenzoARK) July 13, 2026
Responding to the post, Consensys founder Joe Lubin said Ethereum layer-1 revenue fees should stay low to foster growth.
You may also like: Expert: Bitcoin Faces $8B Attack Risk, Ethereum More Secure Bitmine Snaps Up Over 30,500 ETH as Tom Lee Focuses on Crypto’s New Success Story AI Found a Real Ethereum Bug – But the Bigger Story Is What Comes Next “Tens of thousands of companies will set up shop over the next 2-3 years on some mix of Ethereum L1, L2s, and private permissioned EVMs.”
“Monetary premium will grow very large, fee revenue to L1 from so much activity,” he added before concluding that staking and other locking away of ETH will reduce supply, and “net burning of ETH under ultrasound conditions will further grow the value of ETH.”
Since its launch a fortnight ago, 82,895 ETH worth around $147.5 million has been bridged to Robinhood Chain, according to Defillama. Analysts say this has become another demand sink, along with staking, which has 33% of the supply locked, treasury companies, and ETFs.
No Love For ETH Prices Despite this bullish narrative, Ether prices remain at multi-year bear market lows with low volume and negative sentiment. ETH is trading flat on the day at around $1,780 following a dip to $1,750 during early Tuesday trading in Asia.
It has moved off its cycle low of just over $1,500 in late June, but has hit resistance at $1,800 six times over the past ten days. This remains the barrier to break for ETH to continue its slow climb higher.
The major catalysts for Ether are macro and likely to be inflation coming down and lower chances of a Fed rate hike.
Moonbeam, once the crown jewel of Polkadot’s parachain ecosystem, is pulling the plug. The network will cease operations on July 31, 2026, and every user with funds parked on the chain, whether through Moonwell, Wormhole, or any other protocol, has a hard deadline to get their money out.
What’s happening and why it matters Wormhole, the cross-chain interoperability protocol that enables token transfers across blockchains, has issued a direct warning to its users. Any assets bridged to Moonbeam via Wormhole must be withdrawn and transferred to other networks before the shutdown date. Once the parachain winds down, Wormhole contributors will not be able to assist with any stuck assets.
Moonwell, the decentralized lending protocol that operates on Moonbeam, is taking the threat seriously. The protocol has introduced governance proposal MIP-M45, which aims to halt all new supply and borrowing activity on Moonbeam ahead of the parachain’s closure. The proposal also calls for withdrawing reserves from various markets on the chain.
The assets affected on Moonwell include GLMR, xcDOT, USDC, FRAX, and ETH. Users with open lending or borrowing positions on the protocol’s Moonbeam deployment need to close them manually. There is no automatic migration, no safety net, no do-over.
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Moonwell’s strategic retreat from Polkadot Moonwell deprecated its Moonriver deployment on January 29, 2026. Moonriver is Kusama’s equivalent of what Moonbeam is to Polkadot, essentially a canary network that served as a testing ground.
Then, on May 21, 2026, Moonwell migrated its governance from Moonbeam to the Ethereum mainnet. MIP-M45 is the final chapter of that migration story. By halting all new lending and borrowing on Moonbeam, the protocol is effectively telling its remaining users: we’re leaving, and you should too.
The GLMR token migration to Base For holders of GLMR, Moonbeam’s native token, there’s a specific path forward. The token is scheduled to migrate on a 1:1 basis to an ERC-20 token on Base, Coinbase’s Layer-2 network built on Ethereum’s OP Stack.
A migration bridge has been set up for this purpose, but it comes with the same hard deadline. The bridge is expected to remain operational only until July 31, 2026. After that, any GLMR still sitting on Moonbeam becomes unrecoverable.
Moonbeam was the first parachain on Polkadot to support full Ethereum-compatible smart contracts, having launched on January 11, 2022.
What investors and users should do now The immediate priority is straightforward: if you have any assets on Moonbeam, move them. This applies whether you’re using Moonwell, Wormhole, or any other protocol deployed on the chain.
For Moonwell users specifically, the steps involve closing any open lending or borrowing positions on the Moonbeam deployment. For GLMR holders, the 1:1 migration to an ERC-20 token on Base needs to happen before the bridge closes on July 31, 2026.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The US government on Monday deposited about $288 million worth of confiscated Bitcoin and Ether onto Coinbase Prime, according to Arkham Intelligence data.
The transferred assets are linked to three separate enforcement cases involving Brian Krewson, convicted darknet drug trafficker Ryan Farace, and the now-defunct crypto exchange BTC-e.
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Krewson, a former Oracle employee known outside work as the performer “Mr. Poto,” came under Justice Department scrutiny over allegations that he helped safeguard millions of dollars in crypto connected to convicted cocaine traffickers. He has not been charged with a crime.
Although moving funds to Coinbase Prime often raises expectations of a possible sale, these transfers alone could simply be an administrative transfer, and do not indicate the government intends to sell the crypto assets.
The government-labeled wallets currently hold 324,551 Bitcoin worth over $20 billion at current market prices.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Investinglive analyst Eamonn Sheridan said the U.S. June Consumer Price Index (CPI) is expected to fall 0.2% month-on-month, the first decline since the pandemic, driven entirely by a 15% drop in gasoline prices from mid-May to the end of June. The annualized inflation rate is projected to slow from 4.2% in May to 3.8%. Core CPI is forecast to rise 0.2% month-on-month, with the annualized core inflation rate only edging down slightly from 2.9% to 2.8% in May. This means that even if headline inflation data improves nominally, the Federal Reserve has almost no basis to ease policy. This poses a dilemma for Waller, who is set to appear at a congressional hearing for the first time this week: he must demonstrate resolve to curb inflation without appearing overly hawkish, which would lead to excessive tightening of credit conditions. Meanwhile, the fragile Middle East ceasefire has brought two-sided risks to the energy price outlook, and this balance largely depends on how the Middle East situation evolves and its impact on oil prices. (Jin10)
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Goldman Sachs: The key support level for South Korea's KOSPI index is 6,500 points; if it breaks below this level, it may test 6,100 to 6,000 points.
Goldman Sachs Korea Trading Desk has stated that the key support level for South Korea’s KOSPI index stands at 6500 points. If this level fails to contain selling pressure, the index could drop further to the 6100–6000 point zone. Per Bitget data, South Korea’s KOSPI index fell by more than 5% intraday today, hitting a low of 6448.86 points and breaking the 6500 threshold. It has since rebounded to 6676 points, narrowing its decline to 1.97%.
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Foreign investors have net sold nearly $110 billion worth of South Korean stocks this year, putting increased pressure on retail investors to absorb the selling.
Since the start of this year, foreign investors have withdrawn a total of nearly $110 billion from South Korea’s stock market, hitting a record high, mainly to avoid portfolio allocation imbalances caused by the market’s rapid rally. This has left domestic retail investors in South Korea shouldering most of the buying demand. After net purchasing 42.4 trillion won worth of stocks in June, South Korean retail investors have added a net 13.2 trillion won in KOSPI stocks so far this month. As of July 14, the margin balance retail investors held for KOSPI investments stood at 28 trillion won, following a record high of 29.8 trillion won on June 24. Alexander Redman, chief equity strategist at CLSA, said: "South Korea remains the most overweight market in our portfolio, but I have started reducing positions. My concern is that the market is currently dominated by retail investors, as they are making heavy use of margin trading." (Source: Jin10)
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Analysis: Rising expectations of a July interest rate hike by the Federal Reserve have pressured Bitcoin lower.
Bitcoin has fallen more than 2% in the past 24 hours, trading at around $62,380. Market expectations of a Federal Reserve (Fed) interest rate hike as early as July have risen sharply: funding markets now put the probability of a rate hike this month at roughly 50%, up from only about 10% just a few days ago. The shift in expectations stems from Fed Governor Christopher Waller’s remarks that officials may need to raise rates to curb price pressures. U.S. two-year Treasury yields have since climbed to 4.29%, hitting their highest level since the start of last year. Escalating U.S.-Iran tensions and a sharp rally in oil prices have also amplified inflation concerns: WTI crude oil futures have risen from $67 per barrel at the start of the month to nearly $80 per barrel. The U.S. Labor Department will release June’s Consumer Price Index (CPI) on Tuesday. Economists surveyed by Bloomberg expect the year-over-year rise in headline CPI to fall below 4%, with both headline and core inflation likely seeing their first monthly decline since January; May’s figures were 4.2% and 2.9% respectively. However, the recent oil price surge may lead markets to view this CPI data as a lagging indicator. If inflation proves more persistent, it could further intensify rate hike fears. Markets will next focus on Federal Reserve Chair Jerome Powell’s testimony before Congress. ING analysts note Powell can emphasize that inflation expectations remain relatively moderate, and there is sufficient basis to keep interest rates unchanged; even if a rate hike is ultimately delivered, it could be reversed shortly after, with future rate cuts likely to exceed hikes in magnitude.
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The U.S. stock market's VIX volatility index surged 14.17% in a single day, pushing cryptocurrency markets back into the "extreme fear" zone.
According to Cboe data, the U.S. stock market's VIX volatility index is currently at 17.16, up 2.13 points from its previous close of 15.03, marking a 14.17% daily gain. Still, it remains within the normal fluctuation range and has not entered panic territory. Separately, data from Alternative.me shows today’s Crypto Fear & Greed Index stands at 22, down from 26 yesterday, returning to the "extreme fear" zone.
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China Southern's twice-leveraged long SK Hynix ETF sees its decline widen to 18%.
According to Bitget market data, the Nanfang 2x Long SK Hynix ETF’s decline has widened to 18%, while the Nanfang 2x Long Samsung Electronics ETF is down 6.6%.
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Foreign investors have net sold South Korean stocks for the fifth consecutive month.
Data released by the Bank of Korea on Tuesday shows that despite the South Korean stock market rising on the back of tech stocks, foreign investors were net sellers of South Korean stocks for the fifth consecutive month in June. According to the BOK, foreign investors net sold a total of $30.72 billion worth of South Korean stocks and bonds in June, following a net sell of $26.15 billion in May. They have remained net sellers since February. The Bank of Korea noted that concerns over overheating investment in AI infrastructure have dampened investor sentiment, leading to an expansion in foreign investors' net sell volume compared to the previous month. It added that as South Korean equities rose, foreign investors reduced their stock holdings during portfolio rebalancing, further accelerating net capital outflows. (Jinshi)
The broader cryptocurrency market risk-off sentiment builds as US President Donald Trump formally declares war with Iran to the US Congress. Bitcoin (BTC) holds at $62,000 on Tuesday, while Pi Network (PI) and Worldcoin (WLD) are leading losses over the last 24 hours.
CoinMarketCap’s Fear and Greed Index is at 28 on Tuesday, down from 31 on Sunday, reaffirming the declining risk appetite in the industry.
Fear and Greed Index. Source: CoinMarketCapBitcoin nears $60,000 amid renewed pressureBitcoin trades near $62,000 on Tuesday, after a 2% drop the previous day, keeping the near-term trend trapped below the 50-day Exponential Moving Average (EMA) at $65,070. The reversal risks a retest of the $60,000 psychological level, with the swing low near $58,115 in place.
Momentum signals are comparatively modest, with the Relative Strength Index (RSI) hovering around a neutral 46.9 and the Moving Average Convergence Divergence (MACD) staying in positive territory but not yet strong enough to challenge the dominant downside structure.
BTC/USDT daily price chart.Looking up, a potential breakout of the 50-day EMA at $65,070 could extend the rally to the $70,000 mark.
Pi Network and Worldcoin poised for further declinePi Network trades at a record low level near $0.0740 on Tuesday, testing the breakout below a descending support trendline of a falling channel pattern. The PI token targets the 161.8% Fibonacci extension level at $0.0679 as immediate support, measured from the downswing from $0.1998 to $0.1183, where a daily close could extend its decline to steeper levels.
The MACD and signal line extend the declining trend, with expanding negative histograms indicating firm bearish momentum, while the RSI near 11 keeps the pair deeply oversold, suggesting that, while downside pressure is dominant, short-term bounces cannot be ruled out.
PI/USD daily price chart.Looking up, a potential rebound in the bearish setup from the support trendline could test the 127.2% Fibonacci level at $0.0961.
Worldcoin trades below $0.4000 at press time on Tuesday, following a 6% decline the previous day. The 50-day EMA at $0.4268 caps the near-term trend, pushing WLD price below the 50% retracement at $0.4048, measured from $0.7229 to $0.2267. A steady decline below could target the 23.6% Fibonacci retracement level at $0.2980.
That said, the RSI at about 42 still leans toward softness, while the MACD remains marginally below its signal line, suggesting downside pressure persists despite the latest stabilization.
WLD/USDT daily price chart.Looking up, the 50-day and 200-day EMAs at $0.4268 and $0.4851, respectively, serve as key resistance levels.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin (CRYPTO: BTC) tapped $64,000 the previous week, but Glassnode’s Weekly Market Pulse report shows weakening spot participation, declining on-chain activity, and defensive options positioning underneath the price recovery.
What Is The Spot Market Actually Saying?Bitcoin’s 14-day Relative Strength Index jumped from 50.8 to 66.9, pushing the asset into overbought territory.
Spot trading volume fell 21.5% to $4.1 billion, well below Glassnode’s lower threshold of $4.7 billion.
Spot cumulative volume delta flipped from positive $17.2 million to negative $58.8 million, meaning aggressive sellers now outnumber aggressive buyers even as price climbs.
“The advance has been driven by relatively thin liquidity rather than broad-based buying conviction,” Glassnode wrote.
Are Futures And Options Traders Buying This Move?Futures open interest barely moved, slipping from $31.4 billion to $31.3 billion, meaning traders are holding existing positions rather than adding new bets.
Meanwhile, funding payments rose above the upper statistical band, meaning long holders are paying a growing premium to stay in their trades while actual buying intensity collapsed 81.7% in perpetual markets.
Options traders are hedging rather than speculating. Put options are trading at a premium to calls, with traders paying more for downside protection than for upside exposure. The options market is not convinced this rally holds.
U.S. spot Bitcoin ETF flows turned positive, recording $161.3 million in net inflows after weeks of outflows.
ETF trading volume fell 11.97% to $8.4 billion, so the return looks like gradual allocation rather than aggressive re-entry.
What Does On-Chain Data Show?Network activity moved against the price recovery. Daily active addresses fell 7.6% to 599,000, approaching Glassnode’s lower threshold of 594,600.
Transfer volume dropped 16.1% to $4 billion and total fee revenue fell 13.9% to $168,400, below the lower statistical band.
Long-term holders remain firm, with the short-term to long-term supply ratio falling to 12.1%, below the lower band of 12.5%.
Moreover, capital is still leaving Bitcoin on the net, just at a slower rate than before.
Glassnode’s takeaway is that Bitcoin is consolidating after recent lows rather than breaking out.
Spot volume recovering, sellers turning into buyers, and on-chain activity stabilizing are the conditions the data still needs to show before this recovery carries real conviction.
Image: Shutterstock
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Baiju Bhatt (right) and Vlad Tenev, founders of Robinhood (Getty Images/Spencer Platt)Summary
Robinhood Chain, an Ethereum layer-2 launched July 1 to host tokenized stocks, has quickly become one of crypto’s busiest new networks, with about $312 million in total value locked and 3.6 million daily transactions.Despite Robinhood’s pitch of a regulated venue for tokenized real-world assets, those assets account for only about $12.8 million on the chain, while memecoins like CASHCAT and stablecoins dominate activity and market value.The chain’s future hinges on whether speculative memecoin traders convert into users of its tokenized equity and real-world asset offerings.Robinhood Chain, the blockchain network built by the popular trading app to power tokenized stocks, has become one of the busiest new chains in crypto. But despite being built around tokenized stocks and other real-world assets (RWAs), speculative memecoin trading has so far become the network's defining use case.
A cat-themed token called CASHCAT, named after Robinhood's former mascot before the company rebranded, has surged 2,158% over the past 7 days, and the memecoin has a $156 million market cap. By comparison, tokenized real-world assets on the chain are worth just $12.81 million, of which $10.68 million is stocks, with the rest split across commodities, tokenized ETFs and a $410,000 sliver of U.S. Treasuries as of Monday morning.
The contrast comes as the chain has posted explosive early growth since it officially went live on July 1.
Data reviewed by CoinDesk shows that total value locked for the chain reached about $135 million, up more than sevenfold from $17 million on July 3, according to DefiLlama. It even ranked among the top three networks for decentralized exchange trading volume over the past week, generating $3.1 billion in volume.
Robinhood chain's trading volume by DEX (DeFiLlama)This means the tokenized-equity book remains tiny in a chain that clears billions of dollars in weekly trading volume. The pattern is similar to when prominent exchange Coinbase launched its own network, Base, in 2023. Memecoins and speculation filled it first, while the durable applications arrived later, per CoinDesk reports from that time.
Robinhood Chain also recently surpassed Base in daily transaction count, according to Token Terminal. "Robinhood Chain overtook Base in just 1.5 weeks. Yesterday, Robinhood Chain processed 10.4 million transactions versus Base's 6.4 million," it posted on X.
What is Robinhood Chain?Robinhood Chain is an Ethereum layer-2 built on Arbitrum's Orbit stack. It settles transactions on the Ethereum network and uses ether to pay network fees.
An anchor product of the chain is Stock Tokens, onchain versions of equities like Nvidia and Apple that trade around the clock and, unusually, are structured as tokenized debt securities barred to U.S. persons. Crypto applications, including Uniswap, Chainlink and the Morpho lending protocol, were also integrated at launch.
As of Monday morning, the value of all tokens locked on the protocol is $312 million, and the total asset market cap is $480 million. The chain has drawn nearly 800,000 lifetime active addresses, processed 3.6 million transactions in a day, and cleared $838 million in decentralized exchange volume over 24 hours. Fees run a fraction of a cent per transaction.
Robinhood positioned it as a regulated venue where tokenized real-world assets plug into decentralized finance (DeFi), enabling blockchain-based versions of traditional financial assets to interact with onchain lending, trading and other applications.
Yet the composition of activity tells a different story.
According to data tracked by Dune Analytics, asset management accounts for 40.5% of value locked on the chain, while lending accounts for 38.3%. Spot exchanges are 11.9% and perpetual futures 5.2%. Real-world assets, Robinhood's flagship use case behind the chain's existence, are just 4.1%.
The CASHCAT memecoin has also spawned an entire ecosystem of Robinhood-themed tokens, including Cash Dog in Hood, Little John, Hoodrat, and Arrow, none of which existed two weeks ago. The launchpad feeding them, NOXA.fun, and a trading bot called basedbot now have their own dedicated tracking dashboards.
Stablecoins account for much of the remaining activity.
Global Dollar, the USDG token issued by the Paxos-led consortium Robinhood helped found, holds about $200 million of the roughly $299 million stablecoin market cap on the chain, with Ethena's USDe making up most of the rest.
'Works great for memes'While the chain may not yet be serving its original purpose, speculative trading often provides the earliest burst of activity on new blockchains, generating addresses, liquidity and transaction volume well before their intended use cases mature.
But it remains to be seen if the traffic converts. Memecoin traders run to where the activity is and are not loyal to any specific chain, meaning Robinhood Chain's current users may not overlap with the investors it ultimately hopes to attract.
And the platform's executives might even be leaning into that behavior.
On July 2, Robinhood's CEO, Vlad Tenev, told CNBC that assets without utility do not serve a lasting purpose and that tokenized real-world assets were the durable direction for crypto.
Six days later, as CASHCAT climbed, he posted that while the company is building the chain to be the best for real-world assets, 'it works great for memes too.' He later followed the token's X account.
The key question over the coming months is whether Robinhood can convert speculative demand into adoption of its tokenized equity platform. If tokenized real-world assets grow beyond today's roughly $13 million while memecoin activity fades, the strategy may be working.
But if real-world assets stay flat while the speculation moves on to the next flashy chain where memecoins start to rack up quick profits, Robinhood Chain may risk following a familiar crypto pattern: attracting an early wave of speculation without becoming the financial infrastructure it was built to support.
Read more: Robinhood Chain surges into top five by DEX volume: Bernstein
Pepecoin changed the modern memecoin market by showing that internet culture could attract serious capital. Its rise to a $14.73 billion peak turned meme assets from side bets into a full market category. Even in 2026, PEPE remains active today, posting a 15.67% weekly gain and more than $207 million in average daily volume.
The next cycle, however, may not be led by another standalone token. It may come from new AI memecoin platforms that create, launch, and support many meme assets at once.
PEPE Built the First Modern Supercycle PEPE’s success was not only about price. It changed how traders viewed liquidity, community, and cultural momentum.
The token proved that a meme project could move beyond a small retail crowd and attract institutional-level turnover. That helped open the door for newer launchpads, social trading tools, and automated token creation platforms.
PEPE still shows relative strength today. Its short-term trend has improved, supported by a rising 50-day moving average and fresh sector rotation.
The larger challenge remains overhead resistance. Its 200-day moving average continues to limit a clean long-term breakout, showing that established meme assets now face heavier technical barriers than they did during their earliest stages.
MemeToro Turns Trends Into Launches MemeToro ($MT) takes the supercycle idea in a different direction. Instead of waiting for one community token to go viral, its AI agent monitors online narratives and converts rising themes into launch-ready assets.
The system scans social platforms, news flows, and digital communities for early signs of attention. Once a trend is validated, it can prepare the token concept, branding materials, visual assets, and launch structure through one automated workflow.
Users can review the generated package before deployment. The final token then enters the market under a fair-launch model without private pre-allocations or insider reserves.
This turns AI from a research assistant into an active creation engine.
Why MemeToro Could Drive the Next Wave The platform supports several parts of the launch process that older meme cycles handled manually:
Real-time narrative tracking Automated token and brand creation No-code fair-launch deployment Anti-bot and anti-whale safeguards Automatic PancakeSwap liquidity migration Creator fees of up to 1.2% These tools matter because the next memecoin cycle may reward infrastructure rather than one mascot alone. A platform that repeatedly identifies narratives and launches assets can participate across many cultural moments instead of depending on one token’s popularity.
MemeToro ($MT) is currently in Stage 4 of its presale. It has raised $66,670.37 toward an $80,785.59 target, filling 82.52% of the round. The current price is $0.00171 per $MT. The next stage increases that rate to $0.00190.
MemeToro Adds a Second Layer to Meme Culture MemeToro also extends beyond token generation. Its roadmap includes prediction markets where users can forecast crypto moves, macro events, sports outcomes, and cultural trends while earning rewards in $MT and USDC.
That gives the platform another way to capture the same attention cycles that drive memecoins. Instead of only buying a trending asset, users can speculate on the event or narrative behind it.
The system also includes audited smart contracts, staking yields of up to 35% APR, and a fixed 1.2 billion token supply. Those elements provide structure around an ecosystem built for fast-moving themes.
The Next Supercycle May Be a Platform Cycle PEPE proved that meme communities could command enormous liquidity. MemeToro ($MT) is testing whether AI can industrialize that process by finding trends, building assets, and launching them repeatedly.
That does not guarantee another supercycle. It does suggest the next one may be powered less by a single token and more by platforms that turn internet attention into on-chain markets.
More Information on MemeToro ($MT) Presale Here:
Website: https://memetoro.com/
X: https://x.com/memetoro_mt
Telegram: https://t.me/memetoro_mt
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Jito DAO just put its money where its tokenomics are. The protocol has introduced JIP-38, a governance proposal that would channel 100% of Jito’s 80% revenue share from its upcoming JTX Trade platform directly into automated buybacks and burns of the JTO token, with a minimum commitment of one year.
What JIP-38 actually does The mechanics are straightforward, even if the implications are not. JTX Trade, Jito Labs’ forthcoming self-custodial trading terminal built on Solana, will generate trading fees. Under the current structure, Jito DAO receives an 80% cut of those fees.
JIP-38 proposes taking that entire 80% share and routing it into a programmatic mechanism called a Rev Splitter. The Rev Splitter would automatically purchase JTO tokens on the open market and then burn them, permanently removing them from circulation.
In English: every dollar of fee revenue Jito earns from JTX Trade gets used to buy JTO and destroy it. No treasury allocation debates, no discretionary spending. Just automated supply reduction, running for at least one year through Q4 2027.
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The on-chain nature of the Rev Splitter means anyone can verify the buybacks in real time.
JTX Trade and Jito’s product evolution To understand why JIP-38 matters, you need to understand what JTX Trade represents for Jito’s broader strategy. The protocol built its reputation on Solana infrastructure: the Jito Block Engine handles MEV (maximal extractable value) optimization, and JitoSOL is one of the most widely adopted liquid staking tokens on the network, used by entities as large as Coinbase.
JTX Trade is a self-custodial trading terminal designed for what Jito describes as “pro-retail” users, essentially experienced individual traders who want institutional-grade tools without giving up custody of their funds. The platform was announced in May 2026, with a launch window targeting July 2026.
Initially, JTX Trade will focus on spot trading. The roadmap extends into perpetual futures and even prediction markets.
The buyback playbook in DeFi JIP-38 didn’t emerge in a vacuum. Jito’s community has been debating fee allocation strategies for months. A previous proposal, JIP-24, also centered on routing fees toward buybacks, suggesting this is a conversation the DAO has been iterating on rather than a sudden decision.
By locking in the policy for at least one year, Jito is essentially telling the market: we believe JTX Trade will generate enough fees to make this worthwhile, and we’re willing to stake our treasury allocation on that conviction.
What this means for JTO holders and the broader market For current JTO holders, if JTX Trade generates substantial trading volume, the automated buybacks create persistent buying pressure on JTO while simultaneously removing tokens from circulation.
There’s also a governance dimension worth watching. JIP-38 positions Jito as one of the most explicitly “shareholder-friendly” DAOs in crypto. By making every fee dollar traceable and every buyback verifiable on-chain, the protocol is creating a level of financial transparency that most traditional companies would struggle to match.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Jito has published JIP-38, a governance proposal that would formally designate the protocol as a token-centric network, under which all major network revenues will flow to the DAO and be governed by JTO token holders.
The only exception is 20% of JTX platform fees, which will continue to be reinvested in JTX development, according to the proposal posted on July 13.
JIP-38 is now live.
Value should live with the Network. This proposal formally establishes Jito as a token-centric network, committing 100% of the Jito DAO's revenue share from @JTX_trade to programmatic buyback and burns of $JTO for at least 1 year from JTX launch.
— Jito (@jito_sol) July 13, 2026
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The plan would commit 100% of the DAO’s JTX revenue share to open-market JTO buybacks and permanent token burns for a minimum of one year through Q4 2027.
As noted, buybacks would be executed automatically through a Rev Splitter mechanism overseen by the Dev Council, while governance documentation would be updated to reflect the network’s token-centric policy.
JIP-38 also outlines governance and implementation measures including updating official governance documentation to reflect Jito’s token-centric model, progressively automating the Rev Splitter, and completing existing revenue allocation mandates before conducting a comprehensive review of all protocol fee streams in Q4 2027.
That review will evaluate the effectiveness of buybacks, growth incentives, and other capital deployment strategies, after which JTO holders will determine the network’s next long-term revenue allocation framework through governance voting.
According to the proposal, this framework is intended to ensure that the value generated by the network accrues to the token rather than external corporate entities.
JTO surged as much as 8% shortly after the team unveiled JIP-38, per CoinGecko.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
Jito has proposed a governance overhaul that would direct 100% of the DAO’s JTX revenue share toward open-market JTO buybacks and permanent token burns through at least Q4 2027.
Summary
Jito has proposed using DAO revenue for JTO buybacks and permanent token burns through Q4 2027. JIP-38 would place most protocol revenue under DAO control, with JTO holders governing allocations. JTO rose as much as 8% after the governance proposal was unveiled, according to crypto.news. According to a governance proposal published by Jito on July 13, the protocol has introduced JIP-38, which would formally classify Jito as a token-centric network where nearly all major network revenue flows to the decentralized autonomous organization and remains under the control of JTO token holders.
JIP-38 is now live.
Value should live with the Network. This proposal formally establishes Jito as a token-centric network, committing 100% of the Jito DAO's revenue share from @JTX_trade to programmatic buyback and burns of $JTO for at least 1 year from JTX launch.
— Jito (@jito_sol) July 13, 2026 The proposal triggered an immediate market reaction, with Jito (JTO) climbing as much as 8% shortly after its release, according to data from crypto.news.
Revenue would be redirected to JTO holders Under JIP-38, Jito proposes using the DAO’s entire share of JTX revenue to buy JTO tokens on the open market before permanently removing those tokens from circulation. According to the proposal, this arrangement would remain in place for at least one year, extending through the fourth quarter of 2027.
One exception remains in the framework. The proposal states that 20% of JTX platform fees would continue to be reinvested into JTX development rather than being allocated to buybacks and burns. Jito said the remaining major revenue streams would continue flowing through the DAO under governance controlled by JTO holders.
To carry out the program, the proposal calls for buybacks to be executed automatically through a Rev Splitter mechanism overseen by the project’s Dev Council. Alongside the automation process, Jito plans to update its governance documentation so the protocol’s operating model formally recognizes the token-centric structure.
According to JIP-38, existing revenue allocation commitments would be completed before a comprehensive review of protocol fee streams takes place in Q4 2027.
During that review, governance participants would evaluate the performance of token buybacks, ecosystem incentives, and other capital allocation methods before JTO holders vote on the network’s next long-term revenue framework.
Governance changes extend beyond token burns Beyond the buyback program, JIP-38 outlines several operational changes intended to support the new revenue structure. According to the proposal, the Rev Splitter would become progressively more automated while governance records would be updated to match the revised economic model.
Jito also stated in the proposal that the framework is designed so value generated across the network accrues to the JTO token instead of external corporate entities. Any future changes to revenue allocation after Q4 2027 would require approval through governance voting by JTO holders.
The proposal arrives as Jito continues expanding its presence across the Solana ecosystem. Earlier this year, as previously reported by crypto.news, 21Shares launched the 21Shares Jito Staked SOL ETP (JSOL) on Euronext Amsterdam and Euronext Paris.
The issuer said the product provides regulated exchange-traded exposure to Solana through JitoSOL while embedding staking rewards, allowing investors to access the asset through traditional brokers and banks without managing wallets or staking infrastructure.
Institutional support for the protocol has also grown over the past year. As previously reported by crypto.news, Andreessen Horowitz’s (a16z) crypto division invested $50 million in Jito to help expand the Solana staking protocol’s ecosystem.
The investment included an allocation of JTO tokens to the venture firm, adding another high-profile backer as the protocol seeks approval for its latest governance proposal.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Jupiter just teamed with Collector Crypt to launch onchain gacha packs to its millions of users.
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Jupiter unveiled Jupiter Gacha today, a beta release that lets users rip digital packs containing real, graded Pokémon and One Piece cards that are vaulted slabs tokenized onchain and instantly tradeable on the leading Solana DEX.
Notably, the launch is powered by a partnership with Collector Crypt, the current heavyweight of the onchain gacha scene.
Introducing Jupiter Gacha
Real graded Pokémon & One Piece cards, fully onchain.
Every pull is an authenticated slab, the same cards you chased as a kid, now tradeable on Jupiter.
You can pull cards worth multiples of what you paid AND earn up to $100,000 rewards while you do… pic.twitter.com/Yyrsif62Fv
— Jupiter (@JupiterExchange) July 13, 2026 What's the Scoop?The mechanics: Every Jupiter Gacha pull yields an authenticated, PSA-style graded slab that can be worth multiples of the pack price, and Jupiter is dangling up to $100k in rewards for early users who participate in the beta and climb the product's leaderboard.The partner: Collector Crypt processed over $209M in gacha spends in June 2026 alone, nearly two-thirds of the category's record $324M month. This deal plugs the vertical's dominant player directly into Solana's largest DEX frontend.The pattern: Jupiter keeps positioning itself as Solana's RWA gateway; Securitize also recently tapped the DEX for its tokenized stocks rollout. Tokenized trading cards are on the cultural side of RWAs, yet onchain gacha activity has doubled since March, so Jupiter is clearly taking this category seriously. Now, we'll have to see if other DEXes get inspired to make similar integrations.Tokenized Trading Card Gachas Blow Past $300M in June on Bankless
June marked a new ATH for onchain gacha spending volume, the category’s fourth record month running.
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MEXC, a pioneer in 0-fee digital asset trading, announced the addition of five Ondo tokenized stock and ETF trading pairs to its spot market, the latest expansion of its ongoing collaboration with Ondo Finance. The new pairs cover the semiconductor, energy and AI infrastructure sectors, expanding the range of tokenized U.S. equities available to users and allowing them to trade these assets using USDT.
The trading pairs include tokenized stocks and ETFs tracking Direxion Daily Semiconductor Bull 3X ETF (SOXLON/USDT), Direxion Daily Semiconductor Bear 3X ETF (SOXSON/USDT), Halliburton (HALON/USDT) and Core Scientific (CORZON/USDT), all now open for trading on MEXC’s spot market.
SK hynix completed its Nasdaq listing on July 10, 2026, raising $26.5 billion in one of the largest U.S. listings this year, with shares initially trading under the ticker SKHYV before switching to SKHY on July 13, 2026. The company is a leading global supplier of high-bandwidth memory (HBM) chips, a component in high demand amid the expansion of AI infrastructure. To meet user demand for trending U.S. stocks, MEXC will add SKHYON/USDT, tracking SK hynix (Nasdaq: SKHY), to the spot market at 13:30 on July 13, 2026 (UTC).
Ondo Finance focuses on bringing traditional financial assets on-chain through compliant infrastructure, allowing users to access assets such as U.S. Treasuries, stocks and ETFs in a blockchain-native format, with each tokenized asset backed by the corresponding underlying security held through regulated custodial brokers. This deepened collaboration with Ondo reflects MEXC’s continued build-out in the tokenized real-world asset space. As a one-stop trading platform, MEXC provides users with diverse access to global markets, offering both Ondo’s tokenized stocks and RealStocks, a product that allows users to hold real share ownership and dividends.
About MEXC MEXC is the world’s fastest-growing cryptocurrency exchange, trusted by more than 40 million users across 170+ markets. Built on a user-first philosophy, MEXC offers industry-leading 0-fee trading and access to over 3,000 digital assets. As the Gateway to Infinite Opportunities, MEXC provides a single platform where users can easily trade cryptocurrencies alongside tokenized assets, including stocks, ETFs, commodities, and precious metals.
MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC
This content does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, project fundamentals, and potential financial risks before making any trading decisions.
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Hyperliquid, a decentralized derivatives exchange, saw its total open interest climb to an all-time high of $11.07 billion on July 13, 2026, according to data from DeFiLlama, cited by Wu Blockchain. The platform’s open interest later settled slightly lower at $10.88 billion, but remained near record levels, indicating robust participation in derivatives trading.
Elevated open interest signals strong activityDeFiLlama, which tracks decentralized finance market metrics, reported that Hyperliquid’s open interest reached its peak for the year as traders kept substantial positions open. Open interest reflects the total value of active derivatives contracts that have yet to be settled or closed out.
Analysts noted that open interest levels above $11 billion indicate strong engagement from market participants, despite minor pullbacks after the spike. Open interest, on its own, does not distinguish between the betting direction of traders; it merely highlights the aggregate capital locked into ongoing contracts.
Open interest gauges not only the activity within derivatives markets but also signals broader leveraged exposure across decentralized finance, irrespective of price direction or momentum.
Market observers continue to compare open interest data with factors like trading volume and price movements to assess risk and leverage in the ecosystem.
HIP-3 and RWA markets drive growthWu Blockchain added that HIP-3 markets contributed approximately $3.69 billion to Hyperliquid’s total open interest, setting a new record for that segment on the decentralized exchange. HIP-3 represents a category of perpetual futures tracking multiple assets, expanding the range of products offered on Hyperliquid.
In addition, MSB Intel reported that real-world asset (RWA) open interest on Hyperliquid surged to about $3.6 billion. This milestone put a spotlight on increased demand for tokenized traditional assets in decentralized trading platforms.
Mini dictionary: RWA (Real-World Assets): Tokenized representations of traditional assets such as commodities, securities, or credit products, traded on blockchain-based platforms.
Institutional interest in tokenized asset derivatives is pushing RWA open interest to new highs, with $3.6 billion reached on Hyperliquid and a total platform open interest of $11 billion for 2026.
The expansion in RWA-based derivatives highlights growing appetite for exposure to non-crypto instruments within decentralized finance. However, analysts emphasize the continued need for effective liquidity monitoring and risk controls as volumes expand.
MarketOpen InterestRecord DateTotal (Hyperliquid)$11.07 billionJuly 13, 2026HIP-3$3.69 billionJuly 13, 2026RWA$3.6 billionJuly 13, 2026Technical levels and future outlookCharts show that Hyperliquid open interest has rebounded sharply from early 2026 lows near $5 billion, forming higher highs and higher lows throughout the year. Analysts point to resistance zones between $11 billion and $12 billion, with a breakout above this level potentially opening the door to targets near $13 billion to $15 billion. The historical peak region between $15 billion and $16 billion also serves as a reference for future movements.
On the downside, initial support lies between $9 billion and $9.5 billion, while a further decline could find stability near $6 billion to $7 billion. These key technical areas may influence trader behavior and leverage deployment across Hyperliquid’s markets.
Hyperliquid’s recent surge in open interest and record-setting performance in both HIP-3 and RWA markets demonstrate the evolving structure and growing sophistication of decentralized derivatives trading in 2026.
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.
Galaxy Digital CEO Mike Novogratz has stated that cryptocurrency volumes have increased by 20% to 30% from previous lows, suggesting a renewed enthusiasm in the market. He highlighted that smaller positive developments are contributing to this upswing. Novogratz’s remarks align with recent data indicating a 19% rise in centralized exchange volumes, a notable growth over four consecutive months. Additionally, Robinhood Chain, an Ethereum Layer 2 network, reported significant usage, surpassing Hyperliquid’s activity on its launch day. This surge in activity on new platforms like Robinhood Chain reflects a shift in liquidity, potentially affecting the dynamics within the crypto market.
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Key Takeaways Novogratz’s statement suggests a positive shift in crypto market sentiment, with volumes increasing significantly from recent lows. Robinhood Chain’s debut highlights a migration of liquidity toward emerging networks, surpassing established platforms like Hyperliquid. Market participants appear encouraged by these developments, indicating a shift from speculative interest to practical use cases. What to Watch Observers will be keen to see if the increase in volumes sustains and influences the broader market, particularly in relation to Hyperliquid’s performance. Any further announcements from major platforms like Robinhood or strategic partnerships involving Hyperliquid could provide additional insights. Markets will also watch for shifts in sentiment and volume that could impact the pricing of Hyperliquid, especially as the year progresses toward the end of 2026.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 39% — — View market → January 1 2027 5.4% — — View market → January 1 2027 4% — — View market → January 1 2027 68.5% — — View market → January 1 2027 9.2% — — View market → January 1 2027 4.5% — — View market →
Financials Crypto Sector protocols, such as Hyperliquid’s $HYPE, are reportedly outperforming Consumer & Culture Sector tokens. This development is attributed to strong fundamentals, including real cash flows, stablecoins, tokenization, and increased blockchain adoption. Hyperliquid, a decentralized perpetuals exchange, has emerged as a leader in on-chain derivatives, benefiting from fees and a robust token buyback program. The protocol’s success is further bolstered by institutional interest and strategic partnerships, including Circle’s investment and integration with USDC on its HyperEVM platform.
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Key Takeaways Market activity suggests that $HYPE’s performance is consistent with a broader trend favoring financial sector tokens with strong cash flow fundamentals. Current pricing indicates a moderate increase in the probability of Hyperliquid reaching $100 by the end of 2026, suggesting positive investor sentiment. The financial sector’s focus on real yield and tokenization appears to be driving market rewards over consumer-focused narratives. What to Watch Watch for further institutional involvement, such as new partnerships or investments, which could support a YES outcome for Hyperliquid reaching $100. Potential risks include regulatory challenges or security breaches that could impact sentiment negatively. Developments in blockchain technology adoption and stablecoin integration will also be key indicators for the protocol’s future performance.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 39% — — View market → January 1 2027 5.4% — — View market → January 1 2027 4% — — View market → January 1 2027 68.5% — — View market → January 1 2027 9.2% — — View market → January 1 2027 4.5% — — View market →
Hyperliquid’s HIP-3 markets have experienced a significant increase in perpetual futures market volume, now accounting for nearly 50% of the protocol’s total perp volume. This marks a substantial rise from roughly 2% at the beginning of 2026. The surge is primarily driven by the onchain activity in real-world assets, including tokenized U.S. equities and commodities. With 23 of the top 30 Hyperliquid pairs by open interest, the growth reflects a shift towards 24/7 access to traditional assets, especially during periods of geopolitical volatility when legacy markets are closed. Market participants are increasingly favoring HIP-3’s framework for its ability to offer continuous exposure to these assets.
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Key Takeaways The increase in HIP-3’s market share appears consistent with growing interest in onchain access to tokenized real-world assets. Hyperliquid’s recent performance suggests market participants are rotating from altcoins to tokenized stocks and commodities. The rise in onchain stock activity may indicate a longer-term trend toward integrating traditional financial assets into blockchain ecosystems. What to Watch The market will be closely monitoring if Hyperliquid can sustain or further increase its market share in perpetual futures. Key indicators include announcements of partnerships or technological advancements that could enhance Hyperliquid’s offerings. Additionally, developments in geopolitical events or regulatory changes impacting real-world asset tokenization could significantly influence market sentiment and pricing, potentially affecting Hyperliquid’s trajectory towards its $100 price target by the end of 2026.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 39% — — View market → January 1 2027 5.4% — — View market → January 1 2027 4% — — View market → January 1 2027 68.5% — — View market → January 1 2027 9.2% — — View market → January 1 2027 4.5% — — View market →
Hyperliquid’s HIP-3 markets have surged to nearly 50% of the protocol’s perpetual futures volume, reflecting a significant shift towards on-chain activity in tokenized traditional assets such as U.S. stocks, commodities, and indices. As of July 12, 2026, the HIP-3 markets have reached an open interest of $3.68 billion, with cumulative volume surpassing $309 billion since the upgrade’s launch in October 2025. This growth underscores the increasing appeal of non-crypto assets in the crypto derivatives markets, as they now dominate seven of Hyperliquid’s top ten volume markets. The trend challenges centralized exchanges and traditional finance infrastructure by attracting more participants towards decentralized avenues.
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Key Takeaways The surge in Hyperliquid’s HIP-3 market volume suggests a growing interest in on-chain access to tokenized traditional assets. Non-crypto assets are now predominant in Hyperliquid’s top volume markets, indicating a shift in the focus of crypto derivatives. Market pricing implies that the increased activity could support scenarios where Hyperliquid’s value continues to rise, consistent with increased YES outcomes. What to Watch Future developments could further influence Hyperliquid’s market trajectory. Announcements of major partnerships or technological advancements by Hyperliquid could be supportive of YES scenarios, potentially driving the asset closer to the $100 mark by the end of 2026. Conversely, any reports of security issues or regulatory challenges could suggest scenarios leading to a decline in market confidence. Market participants will be closely monitoring these factors and their potential impacts on Hyperliquid’s pricing trends.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31 39% — — View market → January 1 2027 5.4% — — View market → January 1 2027 4% — — View market → January 1 2027 68.5% — — View market → January 1 2027 9.2% — — View market → January 1 2027 4.5% — — View market →
The Pump.fun business model is making profits at a much quicker pace than it is spending on narratives. According to the recent data, the platform’s annualized revenue has hit $344 million, with the network earning approximately $944,000 every day for the past three months.
Meanwhile, more than $407 million worth of PUMP tokens have already been bought back and removed from circulation.
In simple terms, PUMP is no longer relying solely on speculation. The platform is generating enough cash flow to consistently return value to token holders.
Source: Pump.fun Approximately half of the revenue is returning According to AMBCrypto’s close analysis on the network data, over 50% of its revenue is allocated to token buybacks. This cements the network’s long-term project of reducing circulating supply while at the same time boosting its volatility.
Every day when the platform generates income, some part of the income is spent on buying PUMP coins from the market before destroying them.
The impact of the process has been significant. Up until now, 149 billion PUMP tokens have been destroyed, thereby covering almost 15 percent of the entire circulating supply.
The process does not guarantee higher prices. However, it creates a steady source of demand regardless of broader market conditions.
Source: Pump.fun How are network users reacting to the developments? Normally, buybacks are only effective if the underlying business continues generating revenue. At least for now, that does not seem to be the case.
The number of active addresses is still high. In most cases, it has exceeded 7,000 users per day throughout the past few months. The consistency matters since it suggests that the platform’s revenue is being supported by actual network activity rather than a short-lived spike in trading volume.
In other words, the allocation of a bigger proportion of revenue on buyback seems to bear some fruit. If the activity sustains, the current bullish momentum could be accelerated.
Source: Santiment Is $0.001698 next for PUMP? On the daily chart, the token’s price action has just broken past the 20-period Simple Moving Average (20 SMA). The Bollinger Band’s divergence is wide enough, suggesting that the market still has more volatility for a potential explosive move. But the direction is not clear.
However, with the token Stochastic RSI now dropping below 25, which often points to an oversold market, the current bullish push could be prolonged. At press time the token had recorded a 10% surge and was trading at around $0.001495.
The resistance level at $0.001698 stands as the next target for the market buyer if the current bullish run is sustained.
All in all, Pump.fun is already generating nearly $1 million per day. If that pace continues, buybacks will continue removing supply regardless of short-term market sentiment. When combined with positive technicals, the projected bullish run continuation nears certainty.
Source: TradingView Final Summary Pump.fun’s annualized revenue has surged to $344 million, with the platform generating nearly $944,000 per day over the past three months. More than $407 million has been allocated to buybacks, removing nearly 15% of PUMP’s total supply from circulation.
The U.S. government has transferred 2,874.9 Bitcoin worth approximately $183.28 million to Coinbase Prime, according to blockchain data shared by Galaxy Research.
The transaction was performed across Bitcoin blocks 957893 and 957894 from a government-controlled address.
The latest movement brings the total amount of BTC sent by U.S. authorities to Coinbase Prime today to nearly 4,000 BTC.
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Speculation about transfer The translation has raised some speculation about whether the coins could be prepared for liquidation or internal custody operations.
In March 2025, an executive order was signed to establish the Strategic Bitcoin Reserve, directing the Treasury Department.
Treasury Secretary Scott Bessent previously said that the government would not purchase Bitcoin directly for the Strategic Bitcoin Reserve but would retain confiscated BTC instead of selling it.
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The latest Coinbase Prime transfer has therefore raised questions among investors about whether the US government is preparing for potential sales.
imagine US gov is selling
— RunnerMU (Micron-san) (@RunnerXBT) July 13, 2026 Notably, the coins trace to multiple unrelated cases (BTC-e and others). It is highly unusual for the government to move them at the same time.
