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S&P Dow Jones Indices and Pantera Capital have launched the S&P Pantera Digital Asset Index, a cryptocurrency index built around protocol revenue and the economic benefits received by token holders. Rather than selecting assets based only on market overheating or size, the index includes tokens only after checking whether they have sustained quarterly operating profitability above a minimum threshold and whether those earnings are actually passed on to token holders through mechanisms such as buybacks and staking yields excluding inflation-driven rewards. Artemis is responsible for on-chain data verification. The index launched with 18 constituents, with weightings based on market capitalization adjusted for actual circulating supply. The initial basket includes Hyperliquid (HYPE), Solana (SOL), and Aave (AAVE). On an annualized basis, revenue generated over the past two quarters by all included tokens exceeds $3 billion.

The Winklevoss twins, founders of U.S. cryptocurrency exchange Gemini, donated about $10.01 million worth of Bitcoin to MAGA Inc., a super PAC supporting President Donald Trump, last month, CryptoSlate reported. According to disclosed filings, MAGA Inc. sold the donated Bitcoin through Gemini and converted it into cash.

AI shopping agent developer ORO said it lost about $630,000 worth of ALPHA tokens in an attack by a North Korean hacking group. According to Protos, citing ORO’s incident report, an employee was infected with malware while joining a video call after being contacted on Telegram by an acquaintance the employee had met at an offline conference. ORO said the hackers, believed to be the North Korean state-backed group

Ethereum’s privacy-focused proposal EIP-8222 could address the exposure of institutional investors’ staking strategies, but it would also increase operating costs and complexity, Swiss digital asset bank Sygnum said, according to Bitcoin.com. Thibault Dubuis, Sygnum’s head of staking and DeFi, said staking deposit addresses, validators and withdrawal information are currently linked, allowing institutions’ holdings, entry timing and operating strategies to be tracked on-chain. He added that adding privacy features could lower barriers to market entry for institutions while raising the practical barriers to trade execution and operations. If adopted, EIP-8222 would use STARK-based cryptography to separate deposits and withdrawals and re-anonymize validators, making it possible for institutions to stake without disclosing their operating strategies. Dubuis said a fixed-denomination deposit structure and waiting times for withdrawals could reduce capital efficiency and slow processing, while operational burdens tied to key management, custody, slashing and regulatory reporting would still remain.

South Korean exchange Upbit announced it will temporarily suspend deposits and withdrawals for cryptocurrencies on the Polygon (POL) network starting at 11:00 a.m. UTC on July 29 due to a Polygon network hard fork. As a result, deposits and withdrawals on the Polygon network for cryptocurrencies including POL and GMT will be temporarily halted from that time.

An ETH whale address beginning with 0x121c sold its entire 1,862.3 ETH position, worth about $3.58 million, around 10 hours ago at an average price of $1,923 per token, locking in a loss of about $1.42 million, according to a CoinNess analysis citing Lookonchain. The loss amounted to a -28% return. The whale had bought the 1,862.3 ETH in January at an average price of $2,685 as ETH was in a steep decline at the time. According to CoinMarketCap, ETH was recently trading at $1,933.09, up 1.07%.

Coinbase (Nasdaq: COIN) is working to build an all-in-one platform in Canada integrating cryptocurrency, tokenized stocks and prediction market trading, Eric Richmond, head of Coinbase Canada, said in an interview with BNN Bloomberg. Richmond said blockchain technology enables 24/7 trading and can remove the time limits of traditional financial markets, adding Coinbase is working with Canadian authorities to prepare the platform’s launch. He also said Coinbase plans to launch a tokenized stock service this month for users outside the U.S. Richmond added that establishing regulations for a Canadian dollar-pegged stablecoin could create an opening for innovation in new financial products.

Dollar-linked stablecoins could act as a new form of digital dollarization in emerging markets and threaten local monetary sovereignty, according to an analysis by researchers at the Bank for International Settlements, or BIS. The BIS researchers analyzed foreign reserve holdings across more than 130 countries and stablecoin inflow data, finding that changes in reserve holdings clearly reflected macroeconomic risks, while stablecoins appeared to show little response to capital controls or foreign-exchange regulations imposed by authorities in emerging markets, Odaily reported. BIS emphasized that stablecoins could undermine monetary sovereignty in emerging economies and said authorities need new tools to address financial stability risks stemming from stablecoins.

A wallet believed to be tied to crypto investment firm Multicoin Capital appears to have moved 607,000 HYPE worth $37 million in what may be a sale, on-chain analyst EmberCN said. EmberCN said the address deposited 395,000 HYPE into Coinbase four hours ago and also requested the unstaking of 211,000 HYPE that had been staked on Hyperliquid. The holdings appear to have been acquired over the counter through Galaxy Digital in February at about $30 per token. With HYPE now trading at $61, the whale would have realized an estimated $18.8 million profit if all of the tokens were sold, according to the analysis. EmberCN added that a Coinbase deposit and an unstaking request alone are not enough to conclude an actual sale took place.

BlackRock withdrew 1,789.6 BTC worth $119.17 million from Coinbase Prime early today, according to Onchain Lens. The BTC outflow from the exchange may have been part of BlackRock's operational processes, including settlements tied to inflows and outflows in its spot crypto ETFs.

Solana- and Hyperliquid-linked ETFs account for about 80% of altcoin ETF trading volume excluding Bitcoin and Ethereum, and still have room to grow relative to Bitcoin ETFs, according to an analysis by The Block. SOL ETFs have $904 million in assets under management, while HYPE ETFs hold $350 million. The two ETF categories each amount to about 2% of their tokens' respective market capitalizations, compared with roughly 9% for BTC, suggesting further upside if they attract more investors. The Block said BTC and ETH have a higher share of long-term and passive investors, while SOL and HYPE are still drawing more risk-tolerant investors amid regulatory uncertainty and higher volatility. It added that if the two projects work with regulators and expand tokenized real-world asset, or RWA, infrastructure, that could bring in new investors.

Polygon (POL) said on its official X account it has deployed the Ithaca hard fork on the Amoy testnet. The Ithaca hard fork is scheduled to go live on the mainnet at 2:00 p.m. UTC on July 29. The upgrade is designed to make Polygon-based payments more stable, with an automatic mechanism that intervenes if issues arise on the chain to help keep payments running smoothly. If exchanges also support the upgrade, deposits and withdrawals on affected exchanges may be temporarily suspended.

CoinMarketCap’s Altcoin Season Index, a broad cryptocurrency market indicator, rose two points from yesterday to 52. The index is calculated by comparing the price performance of Bitcoin with that of the top 100 coins by market capitalization, excluding stablecoins and wrapped coins. If 75% of those top 100 coins outperform Bitcoin over the past 90 days, the market is considered to be in altcoin season; if the opposite is true, it is viewed as Bitcoin season. A reading closer to 100 indicates a stronger altcoin season.

South Korea’s KOSPI climbed more than 5% early in the session to reclaim the 7,000 level for the first time in five trading days since July 16. The sharp rise prompted the Korea Exchange to trigger a buy-side sidecar for a second straight day after doing so yesterday. The KOSPI was recently trading at 7,138.78, up 5.79% from the previous session.

Bitcoin has recently recovered, but spot demand has yet to emerge, crypto analyst Sunny Mom said in a CryptoQuant contribution. Sunny Mom said BTC recently rose from $64,000 to $66,000, driven not by simple short covering but by fresh leveraged positions. Funding rates have not yet reached overheated levels, while spot trading volume has remained dry since April. Futures volume has also stayed near neutral levels rather than surging. Sunny Mom added stablecoin flows have not declined, but their pace has slowed. That suggests capital has not exited the market so much as shifted into a wait-and-see mode. Spot Bitcoin ETFs have recently posted net inflows, Sunny Mom said, but those inflows have not been enough to pull overall spot trading volume out of its dry spell.

CoinMarketCap’s in-house Crypto Fear and Greed Index rose three points from yesterday to 40, shifting from fear to neutral. The index indicates extreme fear when it is closer to zero and extreme optimism when it is closer to 100. CoinMarketCap calculates the index based on price moves among the top 10 cryptocurrencies by market capitalization, market volatility, derivatives-market indicators such as the put/call ratio, the stablecoin supply ratio (SSR), and CoinMarketCap’s own search data.

Spot CVD is an order-book analysis chart for the BTC/USDT spot pair. The upper section shows the Volume Heatmap, while the lower section shows cumulative volume delta, or CVD. - The upper volume heatmap tracks trading volume at each price level. The background color becomes brighter when the price stays in a specific range for an extended period or makes a large move. Brighter areas may act as support or resistance. - The lower cumulative volume delta, or CVD, indicates buy and sell orders by fund size. As buy orders increase, the line in the corresponding color rises. The yellow line represents $100 to $1,000 orders, while the brown line represents large orders worth $1 million to $10 million.

On-chain analytics firm Santiment said XRP’s brief recovery to $1.16 was driven by accumulation by whale and shark wallets. In a post on its official X account, Santiment said holdings in wallets holding between 100,000 and 100 million XRP rose 2.8% over the past five weeks, while balances in small wallets holding under 0.1 XRP fell 5.2%. Large investors have steadily accumulated XRP while small holders have reduced their balances, it said. Santiment added XRP has historically tracked the moves of major holders more closely than those of retail investors, calling that a signal supporting the recent rebound. According to CoinMarketCap, XRP was recently trading at $1.14, up around 2.89%.

Bitcoin’s spot market remains sluggish, while speculative sentiment in the futures market is showing signs of recovery, according to blockchain analytics firm Glassnode. In its latest report, Glassnode said Bitcoin spot trading volume had fallen below the statistical lower bound of $4.5 billion, with liquidity continuing to weaken and investor participation remaining subdued. Glassnode said this kind of weak spot trading often appears when the market is moving sideways without establishing a clear direction. By contrast, open interest in the futures market rose to $32 billion, indicating an increase in leveraged positions. Perpetual CVD also rebounded to $123.2 million, shifting back to net buying dominance, which Glassnode said means aggressive market buy orders are beginning to outpace selling pressure.

The Digital Chamber, a U.S. crypto lobbying group, has sued Illinois over its introduction of a 0.2% tax on digital asset transactions, The Block reported. In a complaint filed in an Illinois circuit court on July 21, local time, The Digital Chamber argued Illinois was taxing digital assets differently from other assets and said it was not seeking preferential treatment, but equal treatment for economically identical assets regardless of the technology used to record ownership, transfer, or settlement. Illinois Governor JB Pritzker had earlier signed the Digital Asset Tax Act, which imposes a 0.2% tax on crypto transactions, drawing industry backlash. U.S. Commodity Futures Trading Commission Commissioner Michael Selig had also criticized the Illinois transaction tax as "sin" and said it was holding back technological progress.

About 49.6 million U.S. adults hold Bitcoin, more than the 28.8 million who hold gold, Cointelegraph reported, citing data from U.S. bitcoin financial services firm River Financial. According to the data, about 18.6% of U.S. adults hold Bitcoin, compared with 10.8% for gold holders.

Democratic opposition to a cryptocurrency conflict-of-interest provision agreed by U.S. President Donald Trump and Republicans is continuing, leaving the congressional path for the CLARITY crypto regulatory bill uncertain, CoinDesk reported. The White House recently outlined the ethics and conflict-of-interest provision accepted by Trump, but talks with Democrats remain difficult, according to CoinDesk. The biggest sticking point is enforcement authority. Democrats want state attorneys general to have enforcement power, while the White House and Republicans say the U.S. attorney general should hold final authority. CoinDesk added that even if the two parties reach a last-minute deal, the bill would still need to clear the Senate and then win House reapproval in September before final passage.

Digital Asset, the developer of the institutional finance-focused blockchain Canton (CC), has raised an additional $10 million, The Block reported, citing sources familiar with the matter. The sources said the funding came from Shinhan Financial Group and SC Ventures, the venture arm of Standard Chartered, and valued the company at an unchanged $2 billion. The latest round brings Digital Asset’s total funding to $365 million.

The three major U.S. stock indices closed higher today. - S&P 500: +0.89% - Nasdaq: +1.29% - Dow Jones: +0.74%

The White House is urging Senate Democrats to pass a compromise version of the CLARITY Act, a U.S. crypto market structure bill, according to CoinDesk. The bill’s release was delayed for several days as talks focused on provisions restricting cryptocurrency business activities by senior government officials, including President Donald Trump. Trump’s side has made a partial concession on the ethics provision, but Democratic senators say they have not yet been briefed on the details of the agreement. The White House said the administration has made every effort to address Senate Democrats’ concerns.