WuBlockchain’s latest daily crypto digest rounded up seven developments across regulation, trading, and corporate strategy. The biggest item on the supply side was next month’s token unlock calendar: one-off unlocks above $10 million are expected for HYPE, XPL, ENA, ZRO, H, CARDS, and ARB, while linear monthly unlocks above the same threshold include RAIN, SOL, CC, TRUMP, ZEC, ASTER, WLD, MORPHO, PUMP, TAO, AVAX, and NEAR. The total value of large linear unlocks over the next month was put at more than $1.535 billion. In macro data, U.S. ADP employment rose by 38,000 in August, below the 48,000 consensus and the previous 44,000 reading, marking the weakest increase since January. Strategy CEO Phong Le told Bloomberg TV that the company’s Bitcoin trading decisions are driven by cost of capital rather than spot price, defending prior sales around $60,000 to $65,000 and more recent purchases near $80,000. Elsewhere, August trading volume for CEX stock-linked perpetual futures reached $665.42 billion. Tether is facing a lawsuit tied to roughly $42.4 million in frozen USDT, and Hyperliquid Strategies raised its equity financing capacity to $2.5 billion. Thailand’s SEC also approved a new crypto Travel Rule that will take effect on Feb. 27, 2027.

Blockworks Research analyst AJC said Pons ($PONS), a token launch platform on Robinhood Chain, ranked 13th among revenue-generating crypto tokens over the past 30 days. Yet its fully diluted valuation-to-revenue multiple stood at just 0.7x, the lowest among the top 15 names in the dataset. The comparison, based on annualized 30-day revenue figures sourced from CoinGecko and DefiLlama, placed PONS far below peers such as Pump.fun-related tokens at 7.7x, Aave at 45.2x, and Chainlink at 212.2x. According to public information cited in the report, the protocol directs about 80% of revenue to buybacks and burns of $PONS. Over the past month and more, the platform has recorded trading volume in the multi-billion-dollar range, while the amount of PONS burned has approached 30% of total supply. Even so, the market has remained cautious on the quality and sustainability of that revenue. Users responding to the post questioned whether wash trading or volume inflation may have boosted the headline numbers, though those claims have not been cross-verified with additional on-chain data.

Blockworks Research researcher AJC said PONS ranked No. 13 in crypto market revenue over the past 30 days, yet its FDV-to-revenue multiple stood at just 0.7x, the lowest among the top 15 revenue-generating tokens. The comparison he shared showed CARDS at about 2.8x, PUMP at 7.7x, CAKE at 9.6x, AAVE at 45.2x, HYPE at 168.5x, and LINK at 212.2x. Based on those figures, AJC argued that PONS is trading at a valuation that is notably lower than other high-revenue protocols relative to its revenue base. The comment was published in an Odaily newsflash citing AJC’s post and focused on relative valuation rather than token price moves or broader market direction.

Several crypto tokens are scheduled for sizable unlocks next week, according to data from Token Unlocks, with Humanity Protocol (H) leading the list by value. The project is set to unlock about 266 million H tokens at 8:00 a.m. Beijing time on Aug. 25, an amount equal to roughly 7.92% of its circulating supply and worth about $19.9 million. Huma Finance (HUMA) follows with an unlock of about 459 million tokens at 9:00 p.m. Beijing time on Aug. 26. That tranche is equivalent to around 16.70% of circulating supply and is valued at about $9.5 million. Plasma (XPL) is also on the schedule, with about 88.89 million tokens set to unlock at 8:00 p.m. Beijing time on Aug. 25, worth about $8 million. Other projects listed by Token Unlocks include SoSoValue (SOSO), Falcon Finance (FF), Collector Crypt (CARDS), and Kamino (KMNO). Their planned unlock values range from about $5.6 million to $7.3 million, with unlock ratios spanning 2.57% to 6.35% of circulating supply.

The coming week brings a packed schedule for crypto markets and macro watchers, with token unlocks, exchange actions, protocol upgrades and key US economic releases all on the calendar. Humanity Protocol is set to unlock about 266 million H tokens on Aug. 25 Beijing time, while Huma Finance will unlock roughly 459 million HUMA on Aug. 26. Coinbase is scheduled to halt trading in 10 perpetual contracts, including MEME-PERP and SAND-PERP, and the European Union’s expanded crypto restrictions on Belarus under MiCA will begin to apply on Aug. 25. Macro events are also clustered midweek. The US will release July core PCE, personal spending, second-quarter real GDP revision and durable goods orders on Aug. 26. Nvidia’s earnings are due at 04:00 Beijing time on Aug. 27, with its guidance described in the source material as a key test for the AI capital spending cycle. On Aug. 28, Federal Reserve Chair Warsh is set to make his first appearance at the Jackson Hole global central bank symposium. The week also includes BNB Chain’s Pasteur hard fork, a TRON compatibility upgrade proposal vote, a Zcash holder vote on the scope of NU7, and several additional token unlocks across SOSO, XPL, FF, CARDS and KMNO.

July 31 brought a dense mix of crypto, equity-market, and policy headlines. On the corporate side, Coinbase reported $1.22 billion in second-quarter revenue, down 14% from the prior quarter and below the $1.29 billion expected by the market, while Strategy posted an $8.2 billion quarterly loss tied mainly to unrealized losses on its Bitcoin holdings and said it held 843,775 BTC at the latest disclosure. In one of the day’s most closely watched cross-market stories, people familiar with the matter said Citadel had acquired most of the equity portfolio of Situational Awareness, the $24 billion hedge fund founded by former OpenAI researcher Leopold Aschenbrenner, after losses tied to AI-related trades. Elsewhere, Aave said it would retire 50 low-adoption reserves and wind down deployments on six chains, Uniswap launched a beta product for token launches, and ENS DAO proposed creating a full-time operating foundation. On the policy front, U.S. senators submitted a new compromise proposal tied to ethics provisions in the Clarity Act, while South Korea said it had completed a draft digital asset framework bill and is also considering rules that could cover AI agent payments and suspicious-account payment freezes.

Market attention on July 29 centered on a mix of crypto, policy and tech developments. SK hynix reported second-quarter operating profit of KRW 60.5 trillion and revenue of KRW 79 trillion, both below market expectations, while saying DRAM average selling prices rose about 30% from the first quarter and that HBM4 supply will expand in the second half. In Washington, Senate Republicans are trying to move the Clarity Act to a procedural vote before the August recess, though the bill still faces a tight legislative calendar, internal Republican hesitation and Democratic demands tied to ethics provisions and limits on crypto-related benefits for Donald Trump’s family. Coinbase CEO Brian Armstrong publicly urged the Senate to advance the bill, describing it as a bipartisan framework for consumer protection and federal oversight of digital assets. In crypto markets, Solana is expected to raise its mainnet block compute limit from 60 million CU to 100 million CU through SIMD-0286 at the start of Epoch 1009, a roughly 66% increase. trade.xyz said it would fully compensate liquidation losses linked to an abnormal SKHYNIX mark price event on July 27, while Hyperliquid co-founder iliensinc said the relevant perpetual market was deployed and operated by the XYZ team. Elsewhere, Elon Musk’s fortune has fallen by about $650 billion since SpaceX peaked in June but still remains above $700 billion, according to the report. The day’s roundup also included Korean market regulation moves, Amazon’s internal AI model overhaul, Apple’s brief move above a $5 trillion valuation, several crypto fundraising announcements and project updates from 1inch, Lighter and Across Protocol.

Ethereum NFT gacha protocol Fake World Assets briefly moved ahead of Solana-based Collector Crypt in daily revenue after its July 20 relaunch, according to DefiLlama data cited by The Defiant. The protocol, built by the two-person team Token Works, posted $447,604 in revenue on July 25, its highest day so far, while total fees reached $1.6 million that day. Over the first four days after relaunch, it processed roughly 2,000 ETH in volume across about 90,000 transactions, including around 35,000 individual pulls. The lead did not last. In the most recent 24-hour window referenced in the report, Collector Crypt returned to the top with $270,186 in revenue, versus $167,869 for Fake World Assets. Even so, Fake World Assets remained the second-highest revenue-generating protocol on Ethereum, behind Sky at $464,303 and ahead of Aave, Uniswap, Lido, and even the amount of ETH burned by the network over the same period. The report also outlined the protocol’s mechanics, including ETH-backed NFT deposits, randomized pulls using Chainlink VRF, an 85% buyback option, and a 15-day token emission schedule for purchasers and depositors. It contrasted that early traction with Collector Crypt’s much larger June figures, including more than $209 million spent on packs and over $50 million in cumulative revenue by mid-June.