The global cryptocurrency market capitalization gained 1.3% over the past 24 hours to reach $2.28 trillion, with trading volume surging to $82.3 billion. Bitcoin (BTC) traded at $63,959, up 0.52%, while Ethereum (ETH) stood at $1,796, up 0.48%. The Crypto Fear & Greed Index improved from 24 (Extreme Fear) to 27 (Fear), signaling easing panic. Compared to July 6, total cap rose from $2.25T to $2.28T, daily gains expanded from 0.6% to 1.3%, and volume jumped from $48.7B to $82.3B, indicating stronger participation despite lingering caution.
ENS Co-Founder Proposes Delegating 5M Governance Tokens
Alex Van de Sande, co-founder of ENS, proposed delegating 5 million ENS tokens to community members to reduce voting power concentration and enhance decentralized DAO governance. If passed, the move would significantly disperse control currently held by a few large holders.
TeraWulf Inks 20-Year AI Data Center Agreement with Anthropic
Bitcoin miner TeraWulf signed a 20-year data center agreement with AI firm Anthropic, expecting to generate $19 billion in revenue. The deal marks a major expansion of mining infrastructure into AI computing, leveraging TeraWulf's power capacity for high-performance services.
BonkDAO Hit by Malicious Governance Proposal, Nearly $20M Stolen
BonkDAO disclosed that a malicious governance proposal led to the theft of nearly $20 million worth of BONK tokens. Authorities and exchanges are assisting in recovery efforts, highlighting the vulnerabilities in DAO proposal review mechanisms.
Trump Administration Reviews Legal Authority for Strategic Bitcoin Reserve
The Trump administration is examining the legal basis for establishing a U.S. strategic Bitcoin reserve, with multiple government departments evaluating possible management options. No final decision has been made.
Summer.fi Pauses Vaults After Active Attack, ~$6M Stolen
DeFi lending protocol Summer.fi paused all vaults amid an ongoing attack that resulted in the theft of approximately $6 million. Users were urged to avoid interacting with the protocol as the team works with security experts to investigate.
Other Market Developments
Variational plans to launch on-chain swaps in Q3 after securing over $1 billion in trading capacity; former Tether executive Richard Heathcote received approval to sell part of his 1.26% stake; crypto infrastructure startup M1X Global raised $5.5 million in seed funding for tokenized U.S. Treasury products; Securitize aims to spend about $400 million on acquisitions post-IPO to expand institutional tokenization; StarkWare proposed reducing delegated validators while increasing token allocations to improve validation quality. Top gainers included DeXe (+13.06%), Pyth Network (+11.02%), and LayerZero (+8.05%), while MemeCore (-11.68%) and Bonk (-9.09%) led the decliners.