Vangrid contributors are currently paid bounties, Brighton said, noting that a token is planned for later this year.

"Whether Hyperliquid eventually surpasses in market cap other tokens such as Solana and XRP remains to be seen," analysts said.

Large crypto holders are accumulating bitcoin, ether, and XRP as prices remain under pressure, CryptoQuant said.

Binance has launched Lite Loan, a bitcoin-backed borrowing product that lets eligible users borrow up to $1,000 in USDT.

Uniswap has teamed up with Morpho to launch Earn, a new lending product that lets users earn yield via Gauntlet-curated vaults.

The falling odds of the Clarity Act passing the Senate before year-end are a setback for crypto markets, JPMorgan analysts said.

Crypto payments company MoonPay now lets users move money through ChatGPT and Claude with a new AI payment vault called PayBox.

CEO Ian De Bode said the Ondo Network is the "evolution" of the company's earlier Ondo Chain initiative and now underpins Ondo Perps.

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The "first close" of the WLD token sale was led by Pantera and included Bain Capital Crypto, Eightco Holdings, Selini, Susquehanna other investors.

The addition makes Discover the third major U.S. card network supported by MoonPay, alongside Visa and Mastercard.

Canton Network developer Digital Asset has raised an additional $10 million from Shinhan Financial Group and SC Ventures.

Galaxy has launched the Bitcoin Quantum Readiness Initiative, including committing up to $5 million in developer grants.

Morpho has launched Midnight, a fixed-rate, fixed-term lending protocol on Base that complements its existing variable-rate lending protocol.

CryptoQuant said Michael Saylor's Strategy still needs still needs clearer rules for when to buy and sell bitcoin.

Strategy's larger cash reserves and improving institutional demand in bitcoin futures are "encouraging signs" for bitcoin, JPMorgan said.

Built on Hyperliquid, Trasia was co-founded by former Multicoin Capital partner Mable Jiang and aims to serve Asian traders.

Crypto unicorn MoonPay has acquired Glide, a Y Combinator-backed crypto deposits startup, in an all-equity deal.

Strategy would begin considering risks associated with its debt only if bitcoin falls to around $8,000-$10,000, CEO Phong Le said.

Glacis aims to expand ZeroDelta, its multichain clearing platform for stablecoins, into tokenized securities and foreign exchange over time.

The Japanese financial giant's recent crypto deals offer insights into how traditional finance is approaching digital assets.

CryptoQuant said bitcoin's recent rebound should be viewed as a bear-market recovery rather than a trend reversal.

JPMorgan says Strategy isn't bitcoin's main structural risk, but blockchain adoption that fails to benefit public blockchains and tokens.

Chitra said he expects tokenization and vaults to grow the DeFi market faster than overall stablecoin growth over the next few years.

Binance Wallet has added Plume's yield vault, giving users access to tokenized funds managed by Invesco and Bitwise.

Crypto venture firm Paradigm has raised its fourth fund, a $1.2 billion vehicle that will invest in crypto, AI, robotics, and other startups.

Institutional crypto platform EDX Markets has closed a $76 million Series C funding round, with Japan's SBI Holdings as the sole investor.

"Strategy is selling more bitcoin. But this will restore confidence in its financing structure and help bitcoin find a more durable bottom."

M1X Global, which worked with the Republic of the Marshall Islands on the issuance of the onchain sovereign bond USDM1, has raised funds.

Bitcoin deposits to exchanges recently climbed to nearly 49,000 BTC, "a rare extreme" seen only four other times this year, CryptoQuant said.

Strategy introduced "avoidable two-way risk" into crypto markets with its recent bitcoin sale policy, according to JPMorgan analysts.

Erik Voorhees' crypto-AI startup Venice has raised $65 million in a Series A funding round at a $1 billion equity valuation, led by Dragonfly.

The passage of the crypto market structure bill, or Clarity Act, before the November midterm election is "far from assured," said TD Cowen.

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Sophon, which has raised $70 million in total funding, is shutting down its Layer 2 blockchain and moving to Base to build consumer apps.