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Today · 2026-08-26 · Wed

Bitwise: The Q2 encrypted market recorded negative returns for the third consecutive quarter, predicting nearly 18 times more market transactions than the same

On 10 July, Bitwise issued the encrypted market review report for the third quarter of 2026. The report shows that the Big 10 market value encryption index fell by 15.4 per cent in the second quarter, with 8 of the 10 component shares falling; that the spot bitcoin ETF recorded the worst quarterly outflows; that chain activity, trade volume and DeFi assets all declined; and that the encryption market increased in relation to equities, with negative returns recorded for the third consecutive quarter, with the longest decline since 2022. At the same time, however, the report points to a number of bright spots: market transactions are projected at $43.2 billion, nearly 18 times the same level of growth; monetization of RWA has grown by 50.3 to $32.89 billion this year; the Bitwise encryption innovator 30 index has increased by 30.6 per cent; stable currency has settled 2.3 times as much as Visa and most countries with more than their United States debt; and Hyperliquid, PancakeSwap and Aave have each generated about $900 million in revenues over the past year. Bitwise states that trading activity in the Taifa increased by about 13 times compared to the bottom of the bear market in 2022, that DeFi locked up by more than 60 per cent, and that the stable AUM roughly doubled, except for prices that were not kept up. Prices reflect bear market valuations, but the industry is already twice the size of the bottom of the previous cycle — more liquid, more basic, and Wall Street is in the chain。

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NEAR RELEASES 2.1.3.0 MAIN NETWORK UPGRADES, BACK-QUAN SIGNATURE AND DYNAMIC RESECTION FUNCTIONS DOWN

On 10 July, NEAR issued an upgrade to the main network of 2.1.3. The upgrades include back-quant signature support, dynamic reshuffles, Gas keys (precedentable Gas balances and 1,024 parallel nonce channels to achieve a single account running multiple agent-free transactions simultaneously), assignment of certainty typeld ID, nodal synchronization now through point-to-point approach, etc。

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Zcash's major upgrade is expected to activate at 8 p.m. Beijing time on July 28th

On 10 July, according to news from Zcash core developer Sean Bowe on platform X, the ZcashIronwood main network activated block heights were determined and marked. All major organizations pledged to activate the NU6.3 upgrade at the height of 3,428,143 blocks, which is expected at 8 p.m. Beijing time on 28 July. According to earlier information, this upgrade originated from a previous hole in the Orchard pool, which might have allowed the assailants to forge the forged ZEC in unlimited quantities, and because of the privacy of the Orchard pond, the team was unable to determine whether the forged ZEC had been forged before the loophole was repaired. The Ironwood upgrade will take two core measures: first, to introduce a new privacy pool using the Orchard protocol, which will be phased out; and second, to add a control sign to the Zero Knowledge Proof circuit, which will disable the transfer to other users in the pool, while retaining the zero function。

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HSBC Bank issues primary digitally constructed products in Hong Kong

On 10 July, The Defiant reported that HSBC had completed Hong Kong ' s first issue of primary digitally constructed products (in United States dollar denominated notes). The instrument is issued directly on the block chain rather than after-effect digitization. Marketnode acts as a monetifier and digital payment agent for the management of payments flows between issuers and investors. Previously, HSBC Bank, together with Marketnode and the Bank of Daohua (UOB), had participated in the Project Guardian project of the Singapore Monetary Authority and submitted case studies on the issuance of digitally-incorporatized instruments。

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Relay Protocol warning: Robinhod Chain has a large "honey can" currency scam

On 10 July, Relay Protocol, the security agreement, warned that a large number of fraudulent coins had appeared on the newly online Robinhod Chain, and that investors were at full risk of losing their funds when they purchased them. Relay Protocol confirmed that it had received multiple user reports stating that, after purchasing certain tokens, they had disappeared from their wallets and could not be sold or transferred. Such honey cans are restricted by smart contract codes that allow buy-in but not sell-out, leaving investors ' funds permanently locked. The proliferation of fraudulent tokens coincided with the recent explosive growth of Robinwood Chain's user activity and the creation of tokens。

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THE KOREAN FINANCIAL REGULATORY AUTHORITY IS CLOSELY MONITORING THE IMPACT OF SINGLE STOCK LEVERAGE ETF ON THE MARKET

On 10 July, it was reported that Kim Yong-beom, the Chief Secretary of Presidential Policy of Korea, had indicated to journalists in Seoul on Friday that the Korean Financial Regulatory Authority was closely monitoring the impact of single stock leverage ETF on the market. Kim Yong-beom stated that the Korean Ministry of Enterprise Finance, the Central Bank of Korea, the Finance Commission and the Financial Supervisory Authority would make a comprehensive assessment of the market implications of the single stock ETF since its listing in May this year. Regulatory bodies will also examine and finalize the need for new regulatory frameworks. (FIA)

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MORGAN CHASE'S AI AGENT RAN A 60/40 PORTFOLIO IN RETURN

ON 10 JULY, BLOOMBERG REPORTED THAT MORGAN CHASE RESEARCHERS HAD BUILT A NUMBER OF AI INVESTMENT AGENTS THAT COULD BE ADAPTED TO MARKET CONDITIONS FOR DYNAMIC CONFIGURATION BETWEEN STOCKS AND BONDS. IN RETURN, THE BEST-PERFORMING AI PROXY ANNUALIZED RATE OF RETURN OVER THE PAST TWO DECADES WAS 0.7 PERCENTAGE POINTS HIGHER THAN THE TRADITIONAL 60/40 PORTFOLIO AND LOWER VOLATILITY, WHILE AT THE SAME TIME BETTER THAN THE MORGAN CHASE RULE-DRIVEN MARKET-STATE MODEL. RESEARCHERS POINT OUT THAT THE RESULT IS A HISTORICAL SIMULATION RATHER THAN A PHYSICAL INVESTMENT, WARNING THAT IT SHOULD NOT BE SEEN AS EVIDENCE THAT AI CAN CONTINUE TO WIN THE MARKET, AND EMPHASIZING THAT “AGENT AI NEEDS TO BE BASED ON A WELL-THOUGHT-OUT ASSET ALLOCATION PROCESS RATHER THAN ON THE NAIVE ASSUMPTION THAT THE AGENT ITSELF CAN BECOME A SOURCE OF KNOWLEDGE IN THE FIELD”。

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North Carolina, United States, will tax the forecast market by 6 per cent, recognizing federal jurisdiction. Right

On 10 July, Bitcoin.com reported that the budget bill signed in North Carolina had taken a very different regulatory path to predicting markets and sporting games. Since 1 January 2027, the canton has imposed a 6 per cent tax on income from net transactional fees on forecasted market platforms such as Kalshi and Polymucket, but expressly does not require them to obtain a state licence, which in essence recognizes the CFTC ' s federal regulatory authority; the sports lottery rate has been raised from 18 per cent to 23 per cent over the same period. The state became the first to refuse to impose a state-level licensing requirement, while recognizing the legitimacy of the CFTC registered forecast market. By contrast, Kentucky (14.25 per cent excise tax) and Illinois (incorporated into a sports lottery regulatory framework) chose to confront the platform and faced litigation. The Federal Court is currently divided on this issue — Kalshi won in New Jersey and Tennessee, but lost in Maryland, Nevada, Arizona, Ohio and the Southern District of New York. CFTC has sued at least nine states to defend its jurisdiction over the incident contract, and the market generally expects that the dispute will eventually be brought before the Supreme Court。

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The Hyperliquid whale, which made $3.5 million out of 16, probably sold $13.69 million

On 10 July, according to the chain analyst @ai 9684xtpa monitoring, Hyperliquid whale, which had been empty for about $3.5 million, was suspected to sell $13.69 million. The address was 0x410.75d081 hours ago, 7863 ETHs were proposed from Spark and were subsequently fully loaded into Binance, suspected of being sold; a week ago he also transferred 6860 ETHs, approximately $10.8 million, to the exchange。

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