What’s New in DeFi

• Crypto exchange Bitget has launched U.S. stock options trading for eligible users, expanding its Stock+ platform beyond tokenized stocks and pre-IPO market access.
• The initial rollout supports long call and long put options, allowing users to take directional exposure to U.S. stocks or manage downside risk, with losses limited to the premium paid.
• Bitget CEO Gracy Chen said the launch is part of the exchange’s push to converge crypto and traditional markets, while more advanced multi-leg options strategies are planned for future updates.

• Ondo Finance, a real-world asset tokenization platform, launched tokenized versions of BlackRock’s iShares Core S&P 500 ETF (IVV) and Micron stock (MU) on Ethereum under the third-party custodial framework described by the SEC in January.
• Under the model, the underlying U.S.-listed securities remain in the traditional custody system, while Oasis Pro TA, Ondo’s SEC-registered transfer agent subsidiary, mints 1:1-backed tokens held by regulated custodians.

• Securitize, a tokenization platform for issuing and managing tokenized real-world assets, began trading on the NYSE under SECZ on July 2, 2026, after completing its merger with Cantor Equity Partners II, while also launching tokenized versions of its shares on Solana and Avalanche.
• Securitize said SECZ is the first stock to debut simultaneously on a traditional exchange and onchain, with the tokenized shares designed to enable broader global access, 24/7 trading, voting rights and dividend entitlements.

• eToro, a retail trading and investing platform, led a $12.5M strategic investment in Extended, an onchain perpetual futures exchange.
• The investment is tied to a new partnership between Extended and Zengo, a self-custody wallet acquired by eToro earlier this year, with the companies planning to connect Zengo’s wallet technology to Extended’s onchain trading infrastructure.
• The partnership is aimed at giving users broader access to global financial markets through decentralized trading tools.

• Europe’s MiCA crypto framework is now fully in force, marking a major shift for digital asset regulation across the region.
• The regime gives licensed crypto firms a clearer path to operate across the EU under one unified rulebook, while companies that failed to secure authorization may face service restrictions, consolidation pressure, or market exits.
• Large licensed platforms such as Kraken, Coinbase, OKX, and Crypto.com are positioned to benefit, while Binance’s lack of MiCA approval stands out as a major setback.

• Robinhood has launched Robinhood Chain on public mainnet, marking a major step in its push to connect traditional finance with decentralized finance.
• The new Layer 2 network, built with Arbitrum’s technology, supports 24/7 stock token trading for eligible users and launched with partners including Uniswap.

• Metaplanet added 2,823 BTC in the second quarter, bringing its total bitcoin holdings to 43,000 BTC.
• The company spent approximately $222M during the quarter, at an average purchase price of about $78,608 per bitcoin.
• The latest acquisition marks a slower pace compared with previous quarters, though Metaplanet remains committed to its goal of holding 100,000 BTC by the end of 2026 and 210,000 BTC by the end of 2027.

• A new Solana-based prediction market platform called World has launched through the Phantom wallet, adding another competitor to the fast-growing prediction market sector.
• The platform aims to combine Solana’s high-speed blockchain infrastructure with Phantom’s large wallet user base, making onchain event trading more accessible without requiring a separate app or wallet setup.
• With Chainlink providing oracle support for faster resolutions and payouts, World is entering a market already led by Polymarket and Kalshi, as demand grows for platforms tied to sports, politics, financial events, and other real-world outcomes.

• A new stablecoin, Open USD, or OUSD, was announced Monday by Open Standard, as a new dollar-backed stablecoin designed for businesses and expected to launch later this year.
• More than 140 companies, including Visa, Stripe, Mastercard, BlackRock, BNY, Standard Chartered, Google, Shopify, Coinbase, Ripple and Galaxy, joined the initiative, which will let businesses mint and redeem OUSD without fees or volume limits.
• Unlike stablecoins where reserve income is mainly kept by the issuer, OUSD is designed to share most reserve earnings with participating businesses after a small management fee, while Tempo, a payments-focused blockchain network developed by Stripe and Paradigm for stablecoin transactions, said the stablecoin will be natively issued on its network from day one.

• OKX AI, a beta agentic marketplace from crypto exchange OKX, launched to let autonomous AI agents find work, complete tasks and get paid in USDT or USDG stablecoins.
• The platform includes an Agent Marketplace, where builders can list AI agents, set services and pricing, and earn automatically when work is completed, and a Task Marketplace, where agents can post work, hire other agents and pay only after results are delivered.
• OKX said the platform uses a shared agent identity so each AI agent can build reputation across different workflows, with launch support from AWS, CertiK, the Ethereum Foundation, the Solana Foundation, AltLayer, DAPPOS, Opentensor Foundation and StraitsX.

• Strategy’s MSTR common shares and STRC preferred stock rebounded Monday after one of their worst weeks on record, as bitcoin steadied near $60,000 and investors assessed Executive Chairman Michael Saylor’s new Digital Credit Capital Framework.
• Strategy paused bitcoin purchases last week despite raising $1.15B through MSTR share sales, instead increasing its USD reserve to $2.55B and authorizing up to $1B in repurchases of digital credit securities including STRC, STRF, STRD and STRK.
• The company also approved a separate $1B MSTR buyback authorization, raised STRC’s July dividend rate to 12% and said its goal is for STRC to trade over time near its $99-$100 par value.

• Michael Saylor also has hinted that Strategy may be preparing to disclose another bitcoin purchase, even as the company’s BTC position sits roughly $13B underwater.
• On Sunday, Saylor posted Strategy’s bitcoin acquisition chart on X with the caption, “We’re gonna need more charts.”
• The post is widely read as his usual signal that a new purchase announcement could follow in a Monday filing.
• Strategy currently holds 847,363 BTC at an average cost of about $75,646.
• With bitcoin trading near $60,000, the company’s holdings are now worth significantly less than what it paid for them.
• The possible new buy would come after Strategy’s smallest recent purchase.
• On June 22, the company disclosed that it had bought 520 BTC for around $35M, a much slower pace than in previous weeks.

• Bitmine Immersion Technologies, the largest public Ethereum treasury company, said its holdings reached 5.70M ETH, equal to 4.7% of total ETH supply, after acquiring 27,084 ETH over the past week.
• The company reported $9.8B in crypto, cash, marketable securities and “moonshot” holdings, including 206 BTC, $555M in cash and marketable securities, a $180M stake in Beast Industries and a $74M stake in Eightco Holdings.
• Bitmine said 4.88M ETH, or more than 85% of its ETH holdings, are staked, with projected annualized staking revenue of $211M, and the company was added to the Russell 1000 Large-cap Index on June 26.

• South Korea’s Kiwoom Securities is reportedly in talks to acquire a stake in Bithumb, the country’s second-largest crypto exchange.
• According to a local media report, the deal would involve Bithumb issuing new shares through a third-party allocation, with Kiwoom purchasing those shares.
• The size of the investment and final ownership percentage are still being discussed, however, Bithumb has not confirmed a deal.
• A company spokesperson said no specific decision has been made, but added that Bithumb is speaking with several financial institutions and companies about possible partnerships.
• South Korea is also working on a broader crypto regulatory framework known as the Digital Asset Basic Act.

Chain Fee Generation

Daily Fees Generated across Ethereum, Solana, Tron & Sui

Stablecoin Supply

Stablecoin Supply by Token

Stablecoin Supply by Chain

Ethereum Gas Market

Hourly Average Cost to Transfer ETH (21,000 Gas)

Hourly Average Gas Fees Burnt per Block

Hourly Average Blob Gas Usage per Ethereum Block (Target: 6 Blobs)

Hourly Average Excess Blob Gas per Ethereum Block

Beacon Chain

Beacon Chain Summary

Beacon Chain Balance

Beacon Chain - Over the past week, the Beacon Chain balance rose from around 40.2M ETH to above 40.5M ETH, with deposits continuing to outpace withdrawals.

Ethereum staking has reached a fresh all-time high, reinforcing the structural shift of ETH from liquid supply into network security. More than 40M ETH is now committed under Proof-of-Stake, equal to roughly one-third of circulating supply.

Institutional participation also continues to deepen. BitMine reported ETH holdings of 5.70M tokens, with total crypto and cash holdings of $9.8B. Meanwhile, Bitcoin Suisse is upgrading its Ethereum staking stack with Obol Distributed Validators, using DVT to improve validator resilience, reduce single-point-of-failure risk, and support institutional-grade staking operations.

Uniswap V3

Uniswap V3 Hourly Transaction Count - Arbitrum

Uniswap V3 Hourly Volumes - Arbitrum

Liquidations

Liquidations across Aave & Compound