Hinkal reported suspicious onchain activity in which EOA 0xbB3f01a1b1C68F3DEB36C55342b5F5706c32fc20 ran multiple Transact calls after a Proofless Deposit, taking about 800,000 USDC from the Hinkal contract.

SoSoValue data shows SOL spot ETFs recorded a total net inflow of $2.1998 million on July 2 Eastern Time, with only the Bitwise Solana Staking ETF BSOL adding $2.1998 million. Total SOL spot ETF net asset value was $936 million, SOL made up 1.99% of assets, and cumulative net inflows reached $1.135 billion.

SoSoValue data shows Solana spot ETFs saw a total net inflow of $2.1998 million on July 2 Eastern Time. Bitwise Solana Staking ETF BSOL was the only fund with inflows, adding $2.1998 million for the day and lifting its cumulative net inflow to $898 million. Total net asset value reached $936 million.

Huoxing Finance reported that on July 3, eToro said it led a $12.5 million strategic investment in Extended, an onchain perpetual futures trading platform, with Jump Crypto also joining the round. The financing is paired with a strategic partnership involving Zengo, eToro's self-custody wallet. The parties plan to explore ways to integrate traditional financial assets into decentralized trading venues, aiming to broaden onchain access to global financial markets. Extended, founded by former Revolut employees, expects to open trading by the end of 2024 and is being built on StarkWare's onchain scaling engine, StarkEx.

eToro said July 2 that it led a $12.5 million strategic funding round for Extended, an onchain perpetual futures exchange, with Jump Crypto also joining the raise, according to The Block. The investment is linked to a strategic partnership with eToro"s self-custody wallet Zengo. The two sides plan to work on connecting traditional financial assets with decentralized trading venues, aiming to broaden onchain access to global financial markets. Extended was founded by former Revolut employees, opened for trading in late 2024, and is built on StarkWare"s onchain scaling engine StarkEx.

Stablecoin supply fell in the second quarter of 2026, reversing almost three years of steady quarterly expansion and highlighting a widening divide between crypto-native yield products and stablecoins structured around traditional reserve assets. A Q2 2026 stablecoin report from crypto exchange CEX .IO shows total supply declined 15% in the quarter—down more than $3.5 billion—marking the first quarterly drop since Q3 2023. CEX .IO estimates total stablecoin supply at $312 billion in Q2. The report also flags softer network activity: adjusted transaction volume slipped 5.5%, while overall transaction counts posted a notable decline. Key data points from the report - Total stablecoin supply fell by more than $3.5 billion in Q2 2026, ending the category's quarterly growth streak that had run since Q3 2023. - Crypto-native yield stablecoins contracted sharply. Ethena's sUSDe supply dropped 52% (nearly $2 billion), while Sky's sUSDS declined 16%. - Treasury-backed yield products expanded. BlackRock's BUIDL rose 2%, Circle's USYC increased by nearly 16%, and Ondo Finance's USDY climbed by more than 66%. - Transaction activity weakened materially. Stablecoin transaction counts fell by 530 million to 4.48 billion, which CEX.IO describes as the largest quarterly decline on record. - Smaller transfers were comparatively resilient. Transfers under $250 rose 5% to $19.39 billion despite broader weakness. Crypto-native yield tokens lose traction CEX .IO describes Q2 as a clear divergence within the stablecoin yield market. Yield-bearing stablecoin supply fell largely because crypto-issued, crypto-native products pulled back. Ethena's sUSDe was the biggest driver, shedding 52% of supply—nearly $2 billion—over the quarter. Sky's sUSDS also retreated, down 16%. For users and market participants, the takeaway is that stablecoin "yield" is not a single, uniform category. Products tied closely to onchain activity and crypto trading or hedging structures can see supply contract quickly when demand for those strategies fades. Treasury-backed products gain share While crypto-native yield tokens shrank, treasury-backed offerings moved higher. CEX.IO reports BlackRock's BUIDL gained 2% in Q2, Circle's USYC rose by nearly 16%, and Ondo Finance's USDY surged more than 66%. The pattern suggests some investors rotated toward yield products perceived as more directly anchored to traditional reserve mechanisms rather than crypto market activity. The shift may help stabilize parts of the stablecoin ecosystem even as crypto-native demand cools, though the broader question remains whether this growth can offset contraction elsewhere. First quarterly decline since Q3 2023 CEX .IO frames Q2 as a turning point: the first quarterly contraction since Q3 2023, with total supply at $312 billion. The 5.5% drop in adjusted transaction volume points to moderation not only in issuance but also in the flow of stablecoin-related activity. On the transaction side, the report shows total stablecoin transaction counts declined by 530 million to 4.48 billion. At the same time, transfers below $250 increased 5% to $19.39 billion. That mix points to relative resilience in smaller, retail-style usage, while weakness appears concentrated in higher-frequency, larger-value, and more automation-dependent segments. Q1 signals hinted at the slowdown The pullback followed early signs of cooling. In Q1 2026, stablecoin supply still rose by about $8 billion to a record $315 billion, according to reporting cited by CEX.IO. Yet the report notes that retail-sized transfers fell 16% in Q1, while automated activity accounted for roughly 76% of stablecoin transaction volume. By Q2, transaction counts dropped sharply even as sub-$250 transfers increased, suggesting the composition of activity shifted toward smaller transfers as overall usage softened. Broader crypto demand concerns The Q2 contraction also aligns with wider concerns about weakening momentum in crypto markets. Institutional data provider Talos recently pointed to declining stablecoin supply, spot Bitcoin ETF outflows, and slower Bitcoin purchases by Strategy as three demand channels that weakened in Q2. In comments cited by Cointelegraph, Talos's Tanay Ved said a rebound in stablecoin supply would be a useful indicator of "fresh capital coming back into the ecosystem more broadly," supporting onchain liquidity. Ved also emphasized that spot ETF flows remain a key signal of institutional appetite, and noted that ETF flows, corporate Bitcoin purchases, and stablecoin supply often move together as market momentum shifts. That framing positions stablecoins not only as settlement tools but also as a barometer of capital rotating into or out of crypto—especially in segments dependent on active trading and capital deployment. Looking ahead, the core question is whether Q2 marks a temporary reset or the start of a more sustained downtrend. CEX.IO's data shows a sharp internal reallocation—crypto-native yield tokens losing supply while treasury-backed products gain—making both the headline issuance trend and reserve-model mix important to watch in the next quarterly update.

Solana's real-world asset (RWA) footprint has reached a new high, with total value locked (TVL) rising to $3.4 billion, according to DeFiLlama data. At the same time, Solana's on-chain stablecoin supply has expanded beyond $16 billion. DeFiLlama's Solana RWA TVL dashboard showed the $3.4 billion record as of July 2, 2026. DeFiLlama's Solana stablecoin supply dashboard put the on-chain stablecoin figure above $16 billion on the same date. The combination of higher RWA TVL and growing stablecoin supply is being read as a sign of increasing network usage, reflecting demand from developers and institutions for Solana's low-latency settlement layer. The data point comes with important caveats. RWA figures should not be conflated with speculative memecoin activity, and the milestone does not imply a guaranteed price move. Execution risk, liquidity conditions, and regulatory uncertainty remain key variables. For now, the update adds a verified snapshot of where activity is clustering on Solana. Further dashboard updates, protocol-level records, filings, or official statements will determine whether the trend extends beyond a short-term spike. Sources: DeFiLlama. The article was written by the News Desk and edited by Samuel Rae.

Ethereum (ETH) remains in a broader downtrend, but has staged a near-term rebound, up 8.05% over the past week and 4.9% in the last 24 hours. Fund flows paint a less constructive picture. Data from Farside Investors show Ethereum spot ETF flows have totaled -$358.3 million since June 17, 2026, a stretch of persistent redemptions that continues to weigh on sentiment toward the largest altcoin. Technically, ETH has already broken two key support zones this year: $3.2k and $2.0k. AMBCrypto noted ETH around $1.5k has drawn heavy bearish positioning, while also flagging conditions that could set up a short squeeze. Derivatives metrics have firmed. CryptoQuant data indicate the taker buy/sell ratio pushed back above 1 over the past few sessions, with the 7-day moving average also reclaiming the 1 level. That suggests recent gains have been supported in part by more aggressive buying in perpetual swap markets. Open Interest has also edged higher, pointing to rising speculative activity that could amplify a squeeze if shorts are forced to cover. That said, the rally's durability may hinge on whether Open Interest continues to build. A renewed slowdown would imply the move was driven more by short covering than by sustained demand. For longer-term investors, Glassnode's MVRV extreme deviation pricing bands highlight an important reference level. The 1.0σ band—one standard deviation below the all-time MVRV mean—is currently near $1,549 and has been acting as dynamic support. Crypto analyst Ali Martinez added that July opened with a monthly TD Sequential buy signal. When the same signal appeared on the monthly timeframe in September 2022 and March 2025, ETH went on to rally 235% and 182%, respectively. Still, ETF outflows and broader market tone do not yet point clearly to a major bottom. Whether ETH stabilizes here or faces another leg lower remains an open question. Final Summary: Perpetual market data show a higher taker buy ratio and rising Open Interest, signaling increased short-term speculative interest. At the same time, spot Ethereum ETF flows have remained negative over the past two weeks, reinforcing weak investor conviction.

Meteora (MET) extended its advance as crypto markets steadied over the past 24 hours, with MET up about 14% at the time of writing. The move is being supported by improving on-chain fundamentals and fresh capital entering the protocol, raising the question of whether the rally can hold. A key tailwind has been changing supply dynamics tied to total value locked (TVL), which tracks how much MET is deposited and locked in the protocol. Rising TVL is often read as a constructive signal, reflecting investors willing to commit tokens for yield via the protocol's APY. Over the past 23 days, Meteora's TVL has increased by roughly $55.53 million, according to DeFiLlama. Usage metrics have also strengthened. DEX trading volume has climbed from about $101.93 million around June 27 to nearly $195.3 million at the time of writing, close to a twofold increase over the period. The combination of locked capital inflows and improving activity suggests conditions remain supportive for further gains in the days ahead. Revenue momentum has been another notable catalyst. In under 48 hours, Meteora's gross revenue rose toward $1 million, totaling $944,590 for the period. Gross profit came in at $108,080, a little over 11% of revenue, DeFiLlama data show. Within Solana DeFi, Meteora continues to rank among the larger protocols, sitting 13th by TVL. Over the past 24 hours, it generated more fees than Jupiter (JUP) and Sanctum combined, the two largest Solana protocols by TVL. One weakness is the value being returned to governance token holders. "Holder Income," a metric tracking value distributed back to holders, fell sharply from $12.68 million in Q4 2025 to $47,770 in Q2 2026, highlighting limited current pass-through to participants. Derivatives positioning has turned mildly constructive. In MET perpetuals, buying activity has increased alongside a positive funding rate, indicating net bullish bias. CoinGlass data show the OI-weighted funding rate at 0.0059% at press time. The reading suggests optimism without heavy long positioning, keeping leverage-related risk from appearing overstretched. MET is up 14% as TVL added $55.53 million and DEX volume rose to nearly $195.3 million, while revenue approached $1 million in under 48 hours. Perpetual-market signals remain slightly bullish, pointing to positive sentiment without clear signs of overextension.