Ethereum fell by 25.2% in Q2, marking the first time in its history that it has closed lower for three consecutive quarters.

Grayscale Head of Research Zach Pandl published a note stating that Solana has evolved into a blockchain network capable of supporting large-scale applications. It currently hosts over 1,000 decentralized applications (dApps), has processed an average of more than 100 million daily transactions since 2026, with an average throughput of over 1,200 transactions per second, roughly 4.3 million daily active users (DAUs), and has generated approximately $100 million in cumulative transaction fees for the network. Grayscale pointed out that the Solana ecosystem spans multiple sectors including decentralized finance (DeFi), social trading, and decentralized physical infrastructure networks (DePIN). Among these, the Solana decentralized exchange (DEX) sector, home to trading platform Raydium, has seen cumulative trading volume exceed $360 billion year-to-date; meme coin launch platform Pump.fun has around 1.3 million monthly active users (MAUs) and generates roughly $690,000 in daily revenue; and DePIN project Geodnet focuses on providing centimeter-level positioning infrastructure for physical AI systems such as autonomous vehicles, robots, and drones. Grayscale added that Solana is continuously driving on-chain activity through its diverse application ecosystem, with SOL offering investors exposure to the network’s long-term growth.

The U.S. Department of Labor’s Office of the Inspector General (OIG) noted in a report that while the Bureau of Labor Statistics (BLS) has taken steps to bolster data protection following multiple pre-disclosure incidents of key economic data in 2024, further efforts are needed to prevent such events from recurring. The audit evaluated three separate incidents, including the premature release of Consumer Price Index (CPI) data, delays in employment data publication, and cases where statistical methods were disclosed only to a very small number of personnel. The OIG stated: "In response to these incidents, the BLS has fixed gaps in information technology security, revised performance standards, strengthened management oversight, updated policies and procedures, and delivered relevant training. However, we found the BLS still has room for improvement to reduce the risk of improper disclosure of key economic information." (Source: Jinshi)

The Dutch Public Prosecution Service has filed a bankruptcy application with the Rotterdam District Court for crypto platform Knaken and its affiliated payment institution Stichting Knaken Payments, stating the move is in the "public interest." Knaken ceased operations in early June, leaving around 30,000 users unable to withdraw funds from the platform. Prosecutors said the platform did not hold a license from the Netherlands Authority for the Financial Markets (AFM) as required by the EU’s Markets in Crypto-Assets (MiCA) regulation, lacked orderly liquidation procedures, halted customer payments, and was reportedly advised users not to file compensation claims. Meanwhile, the Dutch Fiscal Information and Investigation Service (FIOD) has launched a criminal probe, searched relevant premises on Monday, and seized laptops, mobile phones, and some corporate assets; no arrests have been made so far. If the court approves the bankruptcy application, a court-appointed trustee will take over the company’s assets and be responsible for determining repayment arrangements for customers and other creditors.

According to monitoring by Onchain Lens, publicly listed Bitcoin mining company Riot Platforms has deposited 500 BTC worth approximately $29.48 million with NYDIG Custody. Related on-chain activity indicates the company is selling this portion of its Bitcoin.

According to Bitget market data, Circle is extending its opening-day decline, currently down over 13% with its stock temporarily priced at $65.82, and its market capitalization has fallen to $16.351 billion. On the news front, dozens of financial institutions including Visa, Stripe, Mastercard, BlackRock, and Coinbase plan to jointly launch a new stablecoin named OUSD, adopting a revenue-sharing business model among partners.

According to a WSJ report, officials familiar with the matter revealed that internal power struggles in Iran are threatening US-Iran peace talks: Civilian leaders aim to unfreeze tens of billions of dollars in assets, while hardline military officials are striving for control over the Strait of Hormuz. The civilian leadership, led by Iranian President Masoud Pezeshkian, seeks to unlock tens of billions of dollars in funds to alleviate the hardships faced by millions of Iranians. However, other powerful factions in Iran, including the now-dominant Islamic Revolutionary Guard Corps (IRGC), have different plans. The IRGC intends to maintain full control over the strategically vital strait at all costs and plans to establish a lucrative toll system for vessel transits, which would both boost the armed force’s finances and let it dominate regional security dynamics. The IRGC has told mediators that if it fails to secure guarantees during the Doha talks that Iran will have sole control over the Strait of Hormuz, it will once again close the waterway. Additionally, the group has demanded that the United States and other countries abandon plans to have vessels transit the southern part of the strait, near Omani waters.