TL;DR
- U.S. spot XRP ETFs now maintain a file 1.47% of complete provide value $1.04 billion, with establishments front-running the CLARITY Act’s Senate deadline forward of the Aug. 7 recess
- Grayscale’s Zach Pandl says Bitcoin has outgrown its four-year halving cycle, pointing as an alternative to the Fed’s July 28–29 assembly because the market’s subsequent actual catalyst
- AFX Commerce, Verus Bridge and B² Community misplaced a mixed $35.56 million in three separate DeFi exploits, with Verus hit twice in three months by the identical unresolved bug
- U.S. spot Bitcoin ETFs logged a seven-day, $1 billion influx streak as Kazakhstan launches state-backed mining and Circle brings USDC to twenty million Kakao and Toss customers in Korea
XRP leaves exchanges for ETF vaults forward of decisive Senate vote
U.S. spot ETFs have eliminated a file 1.47% of XRP’s complete provide from market circulation. In accordance with the newest SoSoValue information as of July 23, 2026, the funds now maintain 977.41 million tokens value a mixed $1.04 billion.
Institutional accumulation is accelerating because the deadline for the CLARITY Act approaches within the U.S. Senate. Lawmakers have about two weeks left to achieve a consensus on digital asset oversight guidelines earlier than Congress leaves for its conventional August recess, which begins on Aug. 7.
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Expectations of long-awaited regulatory readability are prompting funds to methodically buy the underlying asset on the spot market and isolate it in custodial wallets, fully eradicating these cash from alternate circulation.
The value context solely underscores the arrogance of main gamers. XRP is presently trapped inside a descending channel close to $1.1338, hovering round native assist at $1.1158 with a impartial RSI studying of 54.82.
The hole between the whole quantity traditionally invested within the ETFs, $1.49 billion, and their present web asset worth of $1.04 billion clearly reveals that the funds are sitting on unrealized losses. Nonetheless, institutional holders usually are not chopping their losses and proceed to keep up positions primarily via Bitwise, which has recorded $501 million in web inflows, and Franklin Templeton, with $416 million.
Though every day exercise throughout the ETFs stays average at round $10.9 million in buying and selling quantity, the elimination of practically 1.5% of the XRP provide is decreasing the depth of alternate order books. If the Senate manages to go the CLARITY Act earlier than the Aug. 7 recess, a surge in consumers will encounter an apparent scarcity of liquidity on the spot market.
Why Grayscale not believes in Bitcoin halving cycles
The main cryptocurrency has outgrown the coaching wheels of the halving cycle and now lives by the grownup guidelines of Wall Road, in keeping with Grayscale Analysis head Zach Pandl, who has urged buyers to erase Bitcoin’s “four-year cycle” charts from their boards.
In his view, crypto has lastly reworked right into a mature macroeconomic asset that listens to the Federal Reserve slightly than the miners’ calendar.
At this level within the cycle, crypto skeptics would often count on a deep plunge. The normal idea predicted that Bitcoin would fall under $25,000 by autumn following final yr’s file excessive of $126,000. As a substitute, the coin is presently holding firmly close to $65,800, down a comparatively modest 48% from its peak by crypto-winter requirements.
Pandl due to this fact believes that, offered the U.S. financial system stays resilient, the market backside could already be behind us.
The inspiration of this shift might be seen in macroeconomic charts from Bloomberg and Coin Metrics. Since 2014, Bitcoin’s worth bottoms have carefully coincided not with provide discount dates, however with declines within the ISM Manufacturing Index and peaks in U.S. two-year Treasury actual yields.
The primary occasion of the week is now the Federal Reserve assembly scheduled for July 28–29. Rates of interest are presently being held at 3.50%–3.75%. If the regulator formally confirms a pause and guidelines out additional will increase, Bitcoin will obtain a transparent path towards development, additional cementing its standing because the main barometer of worldwide liquidity.
‘Black Thursday’ for DeFi: Three crypto protocols hacked for $35.56 million
It was a very stormy morning for the decentralized finance market, as three tasks had been focused by hackers one after one other. AFX Commerce, Verus Bridge and B² Community discovered themselves on the heart of the exploits, with complete losses reaching $35.56 million.
The hackers ruthlessly focused the business’s predominant weak factors: cross-chain bridge vulnerabilities and compromised administrative keys.
The most important blow hit the AFX Commerce protocol on Arbitrum, the place attackers drained $24.15 million in USDC stablecoins from its custodial bridge. The mission crew responded instantly by suspending operations, bringing cybersecurity heavyweights SlowMist and Zellic into the investigation and providing the hacker a deal.
The attacker might be allowed to maintain 30% of the stolen quantity as a authentic bounty if the remaining 70% is returned.
In the meantime, the Verus–Ethereum cross-chain bridge has fallen into the identical lure once more, turning its exploits into an ongoing sequence. The hacker used an previous repeated-import vulnerability, withdrew 3,816 ETH value round $7.55 million and is already laundering the funds via the Twister Money mixer.
The irony is that the mission was already exploited via an identical technique in Might. In July, the crew triumphantly returned the recovered funds to the liquidity swimming pools, solely to undergo one other an identical exploit by July 23 after failing to repair the vital bug within the code.
The L2 mission B² Community on BNB Chain suffered the smallest lack of the three, though it was nonetheless substantial. Its staking contract was focused, permitting attackers to steal $3.86 million earlier than builders closed the vulnerability.
To the crew’s credit score, it shortly contained the issue and instantly promised to totally compensate affected customers from its personal reserve funds.
Whereas B² Community prepares the repayments and AFX waits for the hacker’s response, the day has as soon as once more demonstrated that bridges stay the weakest hyperlink in crypto. Hackers have once more proved that taking hundreds of thousands out of code is simpler than attracting these hundreds of thousands within the first place, whereas customers have as soon as extra been reminded who often pays to shut such holes.
Crypto market outlook: Bitcoin ETF influx streak reaches $1 billion amid sovereign reserve formation and growth in Asia
Institutional capital is stabilizing the market, as a seven-day influx streak into U.S. spot Bitcoin ETFs has introduced in $1 billion, offsetting current promoting strain.
Whereas Bitcoin stays in a spread slightly below the important thing technical barrier at $65,500, the long-term development is shifting towards the nationalization of mining and the deeper integration of stablecoins into Asian cost ecosystems.
Key checkpoints:
- ETF momentum accelerates: After a chronic interval of outflows, U.S. spot Bitcoin funds have recorded a seven-day inexperienced streak, bringing round $1 billion into the market, whereas BlackRock and Constancy remained the normal leaders.
- Bitcoin exams a technical reversal: The main cryptocurrency is being squeezed right into a narrowing vary, buying and selling at $65,495 after encountering a long-term descending development line. The closest assist has shaped at $63,800, whereas a break above the $67,433 point-of-control degree is required to set off an aggressive bullish state of affairs.
- BIP-110 faces rejection from miners: The controversial proposal to quickly limit the Ordinals and Runes protocols by imposing an 83-byte restrict on the OP_RETURN area is dropping its probabilities of success. Regardless of builders’ makes an attempt to clear blocks of spam, just one.1% of miners have expressed assist for the replace, successfully eliminating the danger of a tough fork.
- State-backed mining takes root: Kazakhstan has formally launched fastened electrical energy tariffs for licensed miners for 10 years in alternate for transferring a part of the mined BTC to the central financial institution’s nationwide reserve. The nation has joined El Salvador and Bhutan in pursuing a technique of sovereign cryptocurrency accumulation.
- USDC enters Korean tremendous apps: Stablecoin issuer Circle has signed agreements with know-how giants Kakao Group and Toss to deploy blockchain-based settlements. The combination will present greater than 20 million lively customers in South Korea with authorized entry to digital belongings.
- Finish of an period for a legendary derivatives alternate: BitMEX, which helped pioneer leveraged cryptocurrency buying and selling in 2014, will fully stop operations on Sept. 23, 2026. The phased closure of positions will start on Aug. 26.
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