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Asia-based Web3 research and consulting firm Tiger Research said in a report titled "Shifts in the 2026 Crypto Market: From Narratives to PMF" that no single narrative drove the broader market in the first half of 2026, while stablecoins, real-world assets, meme coins, DeFi and prediction markets either survived or grew despite weak market conditions. The report said a single narrative had guided the market in the past, but real demand is now determining its direction. It added that core sectors such as stablecoins, DeFi, real-world assets, and meme coins remain intact even amid the downturn, and that only projects with PMF, or product-market fit, that generate revenue from real users are likely to survive. According to the report, projects that have endured so far have secured recurring user bases and demonstrated that through concrete performance metrics such as trading volume, total value locked and fee revenue. It said true PMF is achieved only when sustainable revenue models and network effects are added, and while token prices may drive initial interest, long-term survival depends on usage frequency, retained capital, revenue and operational capabilities.

Binance announced it will temporarily suspend deposits and withdrawals for TRX at 6:00 a.m. UTC on July 23 for Tron wallet maintenance.

Pump.fun (PUMP), a Solana-based memecoin issuance platform, has introduced BOOST, a new token launch mechanism that will apply by default to all new tokens issued on the platform, The Defiant reported. The project said more than $100 million in liquidity had effectively remained locked up each year as tokens moved from the Bonding Curve to liquidity pools, and it plans to use BOOST to reinject future generated liquidity into each token.

U.S. spot Ethereum ETFs recorded $37.5 million in net inflows on July 21, according to Farside Investors. It marked a third consecutive trading day of net inflows. - BlackRock ETHA: +$52.8 million - Fidelity FETH: -$15.3 million

U.S. spot Bitcoin ETFs recorded a combined net inflow of $203.2 million on July 21, according to Farside Investors, marking a sixth consecutive trading day of net inflows. - BlackRock IBIT: +$163.9 million - Fidelity FBTC: +$23.1 million - Invesco BTCO: +$9.7 million - Grayscale BTC: +$6.5 million

a16z Crypto, the cryptocurrency unit of global venture capital firm a16z, said its proprietary data showed monthly on-chain transaction volume for tokenized stocks surged about 170-fold to $9.22 billion in June from $53 million a year earlier.

HTX has continued rotating wallets across four blockchains to avoid sanctions screening after British authorities sanctioned the crypto exchange in May over allegations it supported illicit Russian fund flows, The Block reported, citing a TRM Labs report. According to TRM Labs, HTX has periodically changed hot wallets and funding addresses on Tron (TRX), Ethereum (ETH), BNB Smart Chain (BSC) and Solana (SOL).

Grayscale said it has appointed Sebastian Pulido as managing director and head of on-chain asset management, a newly created role in which he is set to lead product and strategy development tailored to institutional demand for on-chain investments. Pulido previously served as director of institutional and DeFi at Aave Labs, the developer of the DeFi protocol AAVE, where he launched Aave Horizon, an on-chain lending market based on tokenized assets. He also worked on institutional blockchain strategy and market structure at JPMorgan’s tokenization platform Kinexys, then known as Onyx, and at Goldman Sachs.

A survey by OKX, a cryptocurrency exchange with Chinese roots, found 70% of 1,400 U.S. crypto investors are willing to let artificial intelligence manage their portfolios. The figure includes both investors willing to give AI full discretion and those willing to let it operate within risk limits they set. By age group, 38% of Gen Z respondents and 37% of millennials said they could give AI full control over portfolio management, while the share for baby boomers was 11%. The survey also showed growing AI usage, with 51% saying they use AI several times a week for investment research or trading, and 77% saying they used chatbots to research crypto investment information over the past three months.

Balance Coin (BLC), an algorithmic dollar stablecoin, plunged more than 99% after losing its dollar peg following an exploit at 42DAO. According to CoinMarketCap, BLC was trading at $0.001412, down 99.85% over the past 24 hours. Blockchain security firm PeckShield said on X, "42DAO suffered a $915,000 exploit and the drop followed." BLC’s market capitalization was only about $3.51 million before the depegging, suggesting the broader market impact is likely to be limited.

Move Industries CEO Torab Torabi said Move Industries has no relationship with MVMT Labs, which filed for Chapter 11 bankruptcy protection, and was not involved in the related bankruptcy process. In a post on X, Torabi said MVMT Labs had filed for bankruptcy but was a separate company from Move Industries. Torabi added that Movement is currently operating as a global fintech company using a licensed stablecoin payments network. Before Torabi’s clarification, MVMT Labs, the developer behind Movement (MOVE), had been reported to have filed for Chapter 11 bankruptcy protection. Move Industries emerged from Movement after last year’s MOVE plunge and alleged misconduct tied to a market maker, positioning itself as a fintech company developing stablecoin payment solutions.

South Korean exchange Upbit announced it will temporarily suspend POLYX deposits and withdrawals from 3:10 a.m. UTC on July 22 due to a Polymesh network upgrade.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $73.21 million liquidated (88.91% shorts) - ETH: $40.27 million liquidated (77.49% shorts) - SNDK: $10.05 million liquidated (86.39% shorts)

Financial platform Ramp has launched stablecoin accounts that support the Solana chain, SolanaFloor reported. Ramp’s stablecoin accounts support multiple chains, including Solana, and allow businesses to hold and make payments in USDC and USDT. Ramp is a financial platform used by more than 70,000 businesses.

U.S. data centers are projected to increase their share of the nation’s electricity consumption from about 5.9% currently to 20%, or 106 GW, by 2035 as demand from AI and cryptocurrency mining surges, BloombergNEF said, according to Crypto Briefing. BloombergNEF expects Bitcoin mining companies to use their large-scale power infrastructure to work with major technology companies such as CoreWeave in converting facilities into AI-focused data centers, with 20% of mining capacity likely to be repurposed for AI use by 2027.

Progressive U.S. groups are pressuring Democrats not to support the CLARITY Act, a crypto market structure bill, while criticizing Democratic Sen. Kirsten Gillibrand for mediating a compromise on the bill’s ethics provisions, Axios reported. Indivisible, Demand Progress and the Revolving Door Project sent a letter to every Democratic Senate office arguing that, because of crypto industry activity involving Gillibrand’s son, Democrats could be left with less ground to criticize President Donald Trump’s crypto business. Gillibrand holds that elected officials and their spouses should be barred from issuing or endorsing their own cryptocurrencies. Both parties are continuing negotiations to secure the 60 votes needed to pass the bill, with the ethics provision seen as the biggest obstacle. Republican lawmakers are discussing a compromise with the White House, but details have not been disclosed.

Hut 8, which has recast itself from a Bitcoin mining company into an AI infrastructure firm, has seen its stock surge by nearly 200% at its peak this year, while American Bitcoin, or ABTC, the subsidiary handling its Bitcoin mining business, has remained under pressure, BeInCrypto reported. According to the outlet, TradingView data showed Hut 8 shares rising from $44 to $133 this year. It said the rally was influenced by a $9.8 billion, 15-year AI data center lease deal with a large private technology company. By contrast, ABTC, which was spun off in March 2025, failed to meet market expectations despite continuing to expand its mining equipment and Bitcoin holdings. Its stock is down more than 76% this year, while the value of Eric Trump's stake has also reportedly fallen by more than $600 million. Hut 8 CEO Asher Genoot told CNBC the company’s shift from a Bitcoin mining-focused business to AI infrastructure was delivering positive results for shareholders.

Bitcoin has risen more sharply on Japanese exchanges than on South Korean platforms this month as the yen fell to its weakest level in 40 years, Maeil Business Newspaper reported. On Japan’s bitFlyer exchange, BTC has gained 14.57% so far this month, compared with a 9.21% rise on South Korean exchange Upbit. The dollar-yen exchange rate climbed to 163.16 yen from 161 yen this month, while the dollar-won rate fell to 1,480 won from 1,552 won.

Daily trading volume on South Korean cryptocurrency exchanges fell 88% from a year earlier to 412.7 billion won ($297.1 million) on July 20, ZDNet Korea reported. The outlet said the decline was mainly attributed to falling cryptocurrency prices, including Bitcoin, and added that weaker exchange earnings could have broader effects, including sales of held assets.

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%.