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Coinbase Institutional and Glassnode released the report "Charting Crypto Q3 2026," maintaining a neutral outlook on the crypto market.The report shows that on-chain data indicates Bitcoin may be transitioning from a correction phase to an accumulation phase, but the Fed's hawkish stance, weak spot ETF demand, and geopolitical risks continue to pressure the market outlook.

According to official news, Ripple announced the launch of Ripple Mint, a unified platform for institutional users to access, mint, redeem, and manage RLUSD.The platform provides both a user interface and application programming interface access, supporting institutional automation of stablecoin operations, integrating RLUSD into existing systems, and achieving cross-chain digital dollar liquidity management. Currently, this service is open to existing RLUSD users.

According to the Bitwise "Q3 2026 Staking Report," Q2 2026 presents a divergent pattern of "increased on-chain activity and decreased fee revenue," with the core driving factor being various protocols actively reducing block space costs.In terms of core data across chains, Ethereum's active staking volume reached a historic high of 40.2 million ETH (accounting for 33% of the total supply), while network revenue decreased by 51% year-on-year to $64 million, although it rebounded in ETH terms quarter-on-quarter; Solana's Q2 Real Economic Value (REV) dropped to $51 million, significantly down from the peak of $812 million in Q1 2025, but non-voting transaction volume reached 9.8 billion, maintaining resilience in on-chain activity; Hyperliquid's Q2 total protocol revenue was $174.8 million, with perpetual contract trading volume reaching $65.2 billion, and the proportion of non-crypto assets (commodities, stock indices, etc.) rose to 32%; Avalanche C chain's transaction volume grew approximately fourfold year-on-year to 236 million transactions, but network revenue plummeted due to a significant drop in fees, leaving only $330,000; NEAR saw a dramatic 75% drop in on-chain transaction volume to 77.7 million transactions due to the collapse of Kai-Ching application activity, but the Intents execution layer generated fees approximately 68 times that of the base chain.In terms of institutional adoption, BlackRock launched an Ethereum staking ETF (ETHB), Coinbase and Circle each staked 500,000 HYPE, and Bitwise, 21Shares, and Grayscale successively launched HYPE spot ETFs. Additionally, the stablecoin payment chain Tempo, incubated by Stripe and Paradigm, processed $386 million in transfers in its first quarter, while the global payroll platform Deel distributed approximately $30 million to 7,200 contractors through this chain.

According to PR Newswire, stablecoin operator Notabene announced a strategic investment from Ripple, with the specific investment amount not disclosed. The two parties will collaborate on enterprise-level stablecoin payments, including the integration of Ripple's USD stablecoin RLUSD into Notabene Flow B2B stablecoin payment platform.They also plan to further expand the application of RLUSD in institutional payment networks, accelerating the adoption of compliant stablecoin infrastructure by banks, payment institutions, and fintech companies.

Pendle co-founder TN and Head of Growth Dan reviewed the developments in the first half of 2026 during the latest community meeting and announced the roadmap for the second half of the year. The team stated that in the first half, Pendle's ecosystem focused on building fixed income infrastructure, with Pendle V2 continuing to solidify its position as an on-chain fixed income protocol, while Boros made initial progress in the on-chain interest rate derivatives market.Data shows that Pendle V2 had an average daily TVL of approximately $1.3 billion in the first half of the year, with 9 out of the 11 major markets on the platform adopting real-world assets (RWA) as collateral, reflecting that institutional funds are continuously flowing into the RWA sector. Additionally, Pendle has launched on the Monad network and within less than a month became one of the top five protocols by TVL on that network, with a locked amount of approximately $150 million. In terms of protocol upgrades, Pendle has completed the migration from vePENDLE to sPENDLE, with about 36% of PENDLE currently staked, of which 93% of stakers have not yet unstaked. The protocol has also utilized revenue to repurchase approximately 2 million PENDLE and significantly reduced weekly liquidity incentives from about 90,000 to 21,000, further enhancing capital efficiency.At the same time, Pendle launched an in-app one-click Loop feature to simplify the operational process of leveraged yield strategies. Another core product, Boros, has surpassed $14 billion in cumulative trading volume within less than a year since its launch, with the number of users increasing by 50% since the beginning of the year. It has also introduced four-legged arbitrage strategies, acceptance of block trades, and a funding rate data dashboard to meet professional trading needs. Looking ahead to the second half of 2026, Pendle will focus on advancing curation infrastructure, allowing external teams to create PT/YT markets, and promoting PT assets as collateral for lending protocols; at the same time, it will collaborate with partners like Morpho to launch Pendle-branded yield vaults, expanding distribution channels for fixed income products. In terms of institutional business, the team is working with several RWA issuers in New York, planning to introduce tokenized ETFs, single bonds, and other on-chain yield products to Pendle, creating a platform for institutional RWA yield discovery and distribution. Boros will shift its strategic focus to cross-exchange funding rate arbitrage, prioritizing services for institutional arbitrageurs, and plans to launch a peer-to-peer acceptance market, funding rate visualization tools, and one-click strategy products for ordinary users, further improving the on-chain interest rate derivatives ecosystem.

CryptoQuant analyst Darkfost stated that the fund flow of spot Bitcoin ETFs over the past 30 days has seen a net outflow of approximately $2.1 billion, and the new demand from Strategy and other Bitcoin treasury companies has been close to zero for several weeks.He estimates that the monthly demand from treasury companies reached about $6.6 billion in August 2025, when BTC was around $115,000, while the current BTC is about $65,000, and the related demand has basically disappeared.

Fox Business crypto reporter posted on the X platform stating that the bill outlines the rules for handling digital assets in the event of bankruptcy of exchanges or custodians.The bill helps ensure that customer assets receive the same protection as traditional financial assets and remain the property of the customers, rather than becoming part of the company's bankruptcy estate. This could help prevent a situation similar to FTX from occurring again.

On-chain data analyst Murphy stated that this cycle is significantly different from the past due to the influx of traditional institutional funds brought in by the BTC spot ETF. He pointed out that the net flow of the ETF essentially records the subscription and redemption results of authorized participants (AP) in the primary market. It will only translate into net inflows or outflows in the data when the selling pressure in the secondary market continues to push the ETF price away from its net asset value and exceeds the arbitrage cost line.Murphy analyzed the data from glassnode and noted that from January to February, the market showed "high trading volume + slight net outflow," indicating that although there was obvious panic selling at that time, there was still a large amount of buying support. In contrast, from May to July, the market exhibited "low trading volume + significant net outflow." The more core signal was not a significant increase in selling pressure, but rather the absence of marginal buying, leading to the ETF consistently trading at a discount and resulting in AP redemptions.He believes that this stage is more likely to reflect a second round of "surrender" at the institutional level, which typically belongs to the tail-end clearing pattern of the market, and judges that this may provide new layout opportunities for retail investors, although the duration cannot be clearly determined by the current data.

Ethereum Improvement Proposal EIP-8222 aims to separate staking deposits from withdrawals through a STARK-based cryptographic mechanism and to re-anonymize validators to reduce the traceability of validator activities. Currently, about one-third of ETH is staked.Thibault Dubuis, Head of Staking and Decentralized Finance Products at Sygnum Bank, stated that the current deposit addresses, validators, and withdrawal credentials create visible links, making institutional holdings, entry times, and staking strategies nearly public. This proposal is still in the discussion phase and has not yet scheduled a deployment time. Its design may involve arrangements such as fixed deposit denominations and asset withdrawal waiting periods, and institutional users may need to bear higher execution costs, process delays, and compliance work.

Digital asset investment company CoinShares announced the launch of a new investment platform and the CoinShares Bitcoin Mining UCITS ETF, entering the UCITS (Undertakings for Collective Investment in Transferable Securities) market ecosystem in Europe, which is worth $30 trillion.CoinShares stated that this initiative aims to help CoinShares expand its business towards major institutional investors in Europe, including pension funds, insurance companies, and private banks.

According to the official announcement, Kraken Pro has launched European-style cash-settled options contracts for Bitcoin (BTC) and Ethereum (ETH) for eligible professional and institutional clients. The new contracts feature a linear structure and are settled in USD, with the first batch supporting weekly, monthly, quarterly, and semi-annual expiration dates, traded through a request-for-quote (RFQ) mechanism.The platform defaults to combined margin, with spot, futures, and options sharing a unified wallet, supporting over 30 currencies as collateral. Kraken stated that it plans to introduce a public order book in the future, expand asset coverage, and expects to open to the European market in the second half of 2026.

According to CoinDesk, a survey by financial technology service provider Broadridge of 200 North American financial services executives shows that 84% of the responding institutions believe that tokenization is of significant importance to their business, indicating that Wall Street is transitioning from the experimental phase of blockchain to preparing for the integration of tokenized assets into everyday market infrastructure.The survey reveals that 68% of respondents believe that tokenization will partially reshape financial markets in the next 3 to 5 years, with nearly one-third of institutions planning to increase their investment in tokenization projects by 26% to 50% or more over the next 2 years. Meanwhile, 92% of institutions expect digital assets and traditional assets to coexist in the foreseeable long term, and 69% plan to integrate tokenization into existing infrastructure rather than building a native on-chain system from scratch.

According to The Block, U.S. regulators failed to issue the final rules necessary to implement the federal stablecoin framework within the one-year deadline set by the GENIUS Act. This act was signed into law by Trump on July 18, 2025, requiring the OCC, the Federal Reserve, the FDIC, the NCUA, the U.S. Department of the Treasury, and state stablecoin regulatory agencies to complete the supporting rulemaking by no later than July 18, 2026.As of the afternoon of July 18 local time, the main rule proposals released by the OCC, FDIC, NCUA, and the Treasury remain in the proposal stage, with some rules related to the Federal Reserve and anti-money laundering regulation still open for public comment. The report notes that the act does not stipulate that missing the deadline will automatically extend it, nor does it suspend the relevant statutory requirements or delay the overall framework's effectiveness.Among them, the OCC's comprehensive implementation proposal covers reserve assets, capital, liquidity, custody, risk control, and reporting requirements; the FDIC's proposal involves reserves, redemption, custody, and the deposit insurance treatment of stablecoin reserves; the NCUA proposed licensing and operational risk control plans in February and May, respectively, but the comment period for the latter only ended the day before the deadline, making it objectively impossible to complete formal rulemaking before the statutory deadline. The report indicates that this means that some key rules necessary for the operation of the stablecoin framework will not be finalized until at least after the deadline.

According to official news, the L1 blockchain ILITY has received a $1 million investment from Archer Capital and TBV to accelerate the layout of the Agent ecosystem. It is reported that ILITY's AI Agent economic ecosystem is about to launch, and this round of funding will mainly be used to deepen this emerging sector.ILITY Network is an infrastructure aimed at the AI Agent economy, providing verifiable on-chain identities for autonomous AI agents, real-time machine-to-machine (M2M) payment settlements between agents, and a reputation system that can be carried across services based on real on-chain performance records; its native token $ILY serves as the Gas and settlement currency for this ecosystem.Previously, the project's last round of financing was supported by institutions such as Animoca Brands, DuckDAO, UZ Capital, and Vega Ventures.

Gate Research Institute recently released the market report titled "June Market Structural Adjustment, Funds Concentrated on Impulsive Volume Opportunities," indicating that in June 2026, the cryptocurrency market weakened again under the multiple influences of macro pressure, institutional capital outflows, and a decline in risk appetite.From the market structure perspective, June did not see a widespread recovery, but rather a localized profit effect driven by a few long-tail assets. About 71% of the top 500 tokens recorded a decline, with only a quarter achieving an increase. BTC, ETH, and most mainstream assets faced pressure simultaneously, while low market cap tokens like CYDX, ANSEM, VELVET, SYN, and CX recorded increases of several times or even hundreds of times due to event catalysts and capital speculation, significantly raising the overall average returns.Volume analysis shows that the average trading volume amplification factor for 450 valid samples is 2.54x, with a median of only 0.49x. Only 17 tokens had a volume increase of more than 3 times, and 8 tokens exceeded 10 times. TEMPLE (289.05x), CX (259.13x), and MTBILL (128.15x) ranked at the top of the volume list.Overall, the market in June is still in a phase of shrinking risk appetite, and true recovery signals still need to be observed in the stabilization of leading assets like BTC and ETH, as well as the re-diffusion of funds from long-tail speculation back to mainstream assets.

RootData has integrated stock perpetual contract-related data into the API Professional Edition subscription system, covering core data such as stock perpetual contract trading pairs, market conditions, and liquidity.Currently, the RootData API has served over 220 institutional clients, covering not only mainstream trading platforms like Binance, OKX, Bitget, and Gate, but also widely adopted by market makers and quantitative institutions such as Amber Group and Presto Research. With continuously expanding data dimensions and stable real-time data service capabilities, RootData is gradually becoming an important provider of institutional-level crypto data infrastructure.

Michael Saylor posted on the X platform, stating that fiat currency is the problem, and strengthening companies, institutions, securities, and technologies related to Bitcoin is part of the solution. People can discuss viewpoints, and allies should not be mistaken for enemies.

According to The Block, crypto infrastructure and capital markets company Keyrock has completed the acquisition of BlockFills' institutional trading and brokerage business. This transaction brings Keyrock BlockFills' trading technology, institutional client relationships, and a team of experienced derivatives traders.The announcement stated that this acquisition also expands Keyrock's regulatory footprint, establishing a CIMA-registered entity in the Cayman Islands and planning to obtain FCA authorization in the UK. Keyrock's announcement did not disclose the acquisition price. According to previous court documents and reports, Keyrock was selected for $3.25 million in BlockFills' bankruptcy restructuring process. Chicago-based BlockFills filed for bankruptcy protection in early 2026 after suffering significant losses due to the cryptocurrency market crash in February.

According to Cointelegraph, ARK Invest's research director Lorenzo Valente published a rebuttal to a16z crypto's view that "traditional finance will adopt blockchain rather than DeFi," arguing that institutions will increasingly rely on DeFi infrastructure in the future.Valente stated that public chains are leading private chain projects in actual development, with the growth of tokenized assets on open networks like Ethereum as an example. He also believes that crypto-native companies like Circle and Coinbase are better positioned than traditional financial institutions to build the next generation of financial infrastructure.a16z crypto previously stated that banks and asset management institutions would not directly adopt DeFi but would choose blockchain technologies that comply with existing regulatory, governance, and operational requirements, including features like tokenization and atomic settlement, while continuing to maintain licensing and institutional control.Sentora co-founder Jesus Rodriguez also disagreed with a16z's viewpoint, suggesting that institutions might adopt the underlying infrastructure of DeFi and overlay compliance, custody, and other enterprise-level controls on top of it.