Token prices are accelerating their decline to new yearly lows, and concerns over hashrate oversupply are emerging.

According to market data from BIT (bit.com), the US-listed optical communications sector saw broad declines, with Corning down 1.22%, Nokia down 1.14%, AAOI down 2.26%, LITE down 5.54%, MRVL down 0.14%, and POET down 2.19%.

Base has announced the launch of its Builder Grant Program, designed to support teams building products on the Base network. Eligible projects will receive seed funding of up to $5,000, along with go-to-market (GTM) and product support. The program’s focus areas include: prediction markets, token launchpads, consumer apps for new asset creation, AI Agent applications (covering business use cases, x402 payment implementation, and autonomous trading), and DeFi applications (including lending, revolving leverage, yield generation, vaults, and tokenized stocks). Selected projects will get up to $5,000 in funding, monthly GTM and product feedback, expedited technical support, and access to Base ecosystem resources. Applicants must meet the following criteria: have a live product, focus on Base ecosystem development, and seek support for product optimization and go-to-market efforts. The initiative aims to further boost the growth of applications and developer innovation within the Base ecosystem.

OKX CEO Star wrote in a post that his team completed a major engineering milestone last week: migrating the high-traffic core trading system from one country to another, with zero user-perceived downtime, even as the crypto market operates 24/7. Star noted that the only impact during the migration was a brief increase in latency lasting 30 to 40 minutes. The migration involved critical trading infrastructure, requiring simultaneous guarantees of data integrity, transaction continuity, and cross-jurisdictional operational stability—an extremely challenging task. He added that the team believes this achievement may be the first attempt of its scale in the industry; while they cannot confirm if it is a historical first, it is undoubtedly a highly challenging engineering feat. The event also demonstrates OKX’s trading system’s strengths in stability, engineering capability, and stress resistance.

South Korean crypto exchange Bithumb has announced that it will temporarily suspend deposits and withdrawals for certain virtual assets to ensure stable operations during maintenance of the Data Network (DATA) wallet system. The affected assets include Data Network (DATA) and Aria Protocol (ARIAIP), with ARIAIP being a withdrawal-only virtual asset. The suspension applies to the Data Network network, taking effect at 23:40 Korea Standard Time on August 10, 2026. Bithumb stated that deposit and withdrawal services will resume once network stability is confirmed, with the exact resumption time to be notified via a subsequent announcement. Trading functions will remain unaffected during the suspension period, though the exchange cautioned users to watch for potential sharp market fluctuations. For withdrawal requests submitted before the suspension that have not yet been processed, as well as deposit transactions generated during the suspension, Bithumb will process them in sequence and reflect the funds to users’ accounts after services are restored.

The South Korean government plans to enact the "Special Act on Super Special Zones" by the end of this year, to provide policy support for three national strategic projects: semiconductors, physical AI, and AI data centers, and accelerate the layout of related industries. Chief of Staff to the South Korean President Kang Hoon-sik stated that the new law will shorten project approval and environmental impact assessment processes, and accelerate the construction of supporting infrastructure such as power, water supply, transportation, housing and education, to enhance South Korea’s global competitiveness in the AI and semiconductor sectors. The South Korean government plans to complete the relocation and temporary adjustment of relevant military facilities in the second half of 2028, so that military airport land can be used as early as possible for semiconductor industrial park construction. In addition to the 8.3 million square meters of land currently planned to be designated as a national industrial park, the government will also consider expanding the surrounding development scope based on enterprise demands. Moreover, South Korea will formulate plans for recycled water utilization, water supply from surrounding dams, and power supply guarantees to meet the needs of large-scale semiconductor industrial clusters. Regarding the relocation of U.S. facilities at Gwangju Military Airport, the South Korean government also plans to hold consultations with the U.S., and the U.S. side is reportedly responding positively.

According to Bitget market data, both U.S. WTI and Brent crude oil rose more than 4.5%, with WTI crude trading at $79.72 and Brent crude at $85.16. On the news front, Iran has put forward multiple conditions before agreeing to fully reopen the Strait of Hormuz, including ending the U.S. naval blockade, withdrawing U.S. maritime and air forces around Iran, compensating for losses from recent conflicts, lifting sanctions, and unconditionally unfreezing Iran's assets. These demands have cast a shadow over the outlook for the normalization of shipping, and the market continues to price in supply disruption risk premiums into crude oil prices. Meanwhile, negotiations between Iran and Oman on establishing a secure shipping lane through the Strait of Hormuz have reportedly made some progress, but as the two sides have not yet reached an agreement on the full reopening of the strait, investors remain vigilant about energy supply risks. In addition, Yemen's Houthi movement claimed responsibility for a drone attack on Saudi Aramco's refining facilities, further intensifying market concerns over the safety of energy infrastructure in the Middle East.