Whale Who Previously Shorted 16 Altcoins to Net $3.5 Million Suspected of Selling $13.69 Million Worth of ETH Again

Bitwise releases its third-quarter 2026 crypto market review report. The report shows that in the second quarter, the Bitwise 10 Large-Cap Crypto Index fell 15.4%, with 8 of its 10 constituent tokens declining; spot Bitcoin ETFs recorded their worst quarterly outflows. On-chain activity, trading volume and DeFi assets all declined, the correlation between the crypto market and equities rose, and the sector notched a third consecutive quarter of negative returns, marking its longest stretch of quarterly losses since 2022. However, the report also highlights several bright spots: prediction market trading volume reached $43.2 billion, surging nearly 18 times year-over-year; tokenized real-world assets (RWA) grew 50.3% this year to $32.89 billion; the Bitwise Crypto Innovators 30 Index rose 30.6%; stablecoin settlement volume was 2.3 times that of Visa, with U.S. Treasury holdings exceeding those of most countries; Hyperliquid, PancakeSwap and Aave each generated roughly $900 million in revenue over the past year. Bitwise stated that compared to the 2022 bear market bottom, Ethereum transaction activity has grown about 13 times, DeFi total value locked (TVL) has risen more than 60%, and stablecoin assets under management (AUM) have roughly doubled—only prices have failed to keep pace. Prices reflect bear market valuations, but the industry’s size is now twice that of the last cycle’s bottom: liquidity is deeper, fundamentals are stronger, and Wall Street has entered the on-chain space.

According to HTX market data, Bitcoin briefly broke through the $64,000 threshold and is currently trading at $63,953, with a 24-hour gain of 3.58%.

The Ethereum Foundation’s Protocol Support Team (EF Protocol Support) announced on X that the team has been disbanded. The group was primarily responsible for coordinating Ethereum protocol development, including organizing and coordinating core developer meetings, tracking Ethereum network upgrades, supporting EIP advancement, and operating the Ethereum protocol.

Security protocol Relay Protocol has issued a warning that a large number of scam tokens have emerged on the newly launched Robinhood Chain, putting investors at risk of total loss of funds after purchase. Relay Protocol confirmed it has received multiple user reports stating that after buying certain tokens, the assets immediately vanished from their wallets and cannot be sold or transferred. These honeypot tokens are restricted via smart contract code, allowing buys but blocking sales, leading to permanent locking of investors’ funds. The surge in scam tokens has coincided with the recent explosive growth in user activity and token creation volume on Robinhood Chain.

According to official announcements, OKX will launch spot trading for Solstice (SLX) at 20:00 on July 10. Users can start depositing assets at 10:00 the same day, pre-place orders for SLX/USDT between 19:00 and 20:00, and withdrawals will open at 22:00.

The Kobeissi Letter noted in a post that the AI arms race is driving large technology companies to borrow at record levels. Data shows that since the start of 2026, Amazon, Alphabet, Nvidia, Meta, Oracle, and SpaceX have issued a record $182 billion in investment-grade bonds, a 1,300% jump from roughly $13 billion in the same period of 2025. These six firms account for nearly 15% of total U.S. corporate bond issuance so far this year, and contribute over 50% of the growth in this year’s corporate bond market. Meanwhile, the U.S. market has seen a record seven bond transactions worth $25 billion or more, matching the total number of such deals between 2019 and 2025. Six of these seven large bond deals came from the aforementioned six companies, with the remaining one from Salesforce. AI-related capital demand is reshaping the corporate bond market.