Gate recorded $19.21 million in net inflows over 24 hours, ranking first globally, and $122.64 million over seven days, tying with Binance for the top two spots among centralized exchanges, according to DefiLlama.

Crypto markets on Aug. 10 were driven by a mix of trading data, policy signals, corporate developments and geopolitical headlines. On centralized exchanges, BMT and TUT posted the largest gains among the top 10 tokens by trading volume, while OKX’s 24-hour leaderboard was led by BOME and PEOPLE. On-chain, GMGN’s most watched meme tokens were TODA, REMUS, LOUIE, RISK and PUMPGUY. Away from the tape, Unitree Robotics officially opened subscriptions for its STAR Market IPO, with the market estimating an allotment rate of just 0.02% to 0.03%. In U.S. crypto legislation, Polymarket data showed the probability of the CLARITY Act becoming law by Dec. 31 had dropped to 21%, while Senate procedure points to a first cloture vote on Sept. 15. Industry updates included Bithumb restricting deposits and withdrawals tied to three entities sanctioned by the U.S. Treasury’s Office of Foreign Assets Control, fresh data showing more than 100 crypto projects have shut down or filed for bankruptcy in 2026 so far, and DeFiLlama figures showing Pump.fun’s 30-day protocol revenue moved ahead of Hyperliquid. Separate updates covered Strategy’s lack of Bitcoin purchases since June, a $10.5 million seed round for Dow Protocol, and proposed South Korean tax and VASP rule changes.

Hyperliquid is posting record derivatives activity, with open interest rising above $11 billion on July 13 and 30-day perpetual futures volume nearing $178 billion. Its share of global open perp positions has climbed to roughly 9%, up from under 7% in late May. Yet the platform’s gross protocol revenue has moved the other way, falling from about $357 million in Q3 2025 to around $202 million in Q2 2026, according to DefiLlama. The main reason is HIP-3, a structure that lets qualified external builders launch their own perpetual markets on Hyperliquid’s order books and keep up to half the trading fees. Those builder-deployed markets accounted for about 2% of perp volume at the start of 2026 and now make up roughly half. Much of the growth has come from tokenized stocks and commodity perps, which reached $3.6 billion in open interest this month and, for one week in July, generated 52% of total platform volume. The expansion has strengthened user activity but also increased fee pass-through, dependence on a single deployer, and pressure on the buyback engine that supports HYPE.

Multiple crypto KOLs have revealed that meme launchpad pump.fun is offering rival FOMO's users a $20,000 signing bonus plus $30,000 per month to migrate to its app. The deal reportedly comes with strict terms: users must transfer their funds and positions, use a dedicated wallet and publicly declare it their only wallet, permanently delete their FOMO accounts, avoid using the wallet on competing platforms, and accept a non-disparagement clause. The controversial poaching effort arrives as revenue fortunes diverge. DefiLlama data shows pump.fun earned $6.49 million over the past seven days — still the undisputed No. 1 — while FOMO has climbed to $2.64 million since July, repeatedly hitting new highs. Flap, buoyed by the stock-coin meme wave on BSC and Robinhood Chain, brought in $1.39 million. Coming right after pump.fun launched social trading features this week, the recruitment push reads as an attempt to crush fast-rising rivals in the cradle. Crypto lawyer Ariel Givner said the move, however contentious, does not violate any laws and is a classic commercial transaction.

Tether reported $1.5 billion in net operating profit for the second quarter, with most of the earnings coming from interest generated by its U.S. Treasury holdings and repurchase agreements. As of June 30, the company said it had a $4.11 billion reserve buffer, meaning assets exceeded liabilities by the same amount. The circulating supply of USDT rose by $446 million to $184.6 billion, giving it more than 60% of the global stablecoin market. DeFiLlama data put the total stablecoin market at about $307 billion. Tether also said it remains one of the major holders of U.S. Treasury securities. The update came alongside news that asset manager BlackRock has launched two tokenized money market products aimed at stablecoin issuers. The products are designed to help issuers meet reserve requirements under the U.S. GENIUS Act. One fund tokenizes existing shares of a Treasury liquidity strategy on Ethereum, while the other is built as an institutional money market tool that supports multiple chains and automatically reinvests yield.

Centralized exchange (CEX) crypto perpetual futures volume fell to $4 trillion in July 2026, the lowest monthly total since December 2023, as leveraged trading continued to cool across the market. The figure marked a pullback after a brief recovery between April and June. Spot markets weakened in tandem: Coinglass data shows average daily spot volume dropped from $17.8 billion to $13.6 billion during July, a 23.6% decline. Decentralized exchanges also lost ground, with DeFiLlama data putting DEX perpetual volume at $531 billion for the month — down roughly 21% from June 2026's $676 billion and the weakest reading since June 2025. DEX perpetual open interest meanwhile eased from $19.4 billion in September 2025 to $17.9 billion in July. The pullback spans both centralized and decentralized venues, a sign that leveraged demand is broadly fading. Analysts attribute the downturn to reduced investor risk appetite and a retreat of leveraged capital, while pointing to growth in tokenized real-world assets (RWA) as a potential next driver for on-chain derivatives markets.

According to data from DefiLlama, hackers stole $247 million in crypto assets during July, making it the second-largest month for thefts so far in 2026. Only April was higher, with $644 million stolen. The July total also jumped sharply from $75 million in June and $60 million in May. Galaxy Digital said the Coldcard vulnerability was the largest attack event of the month. The firm confirmed three rounds of exploits affecting 7,300 wallets, with at least $100 million in Bitcoin stolen. It also identified a suspected fourth round that could bring total losses to around $130 million. DefiLlama's hack tracker estimates losses tied to the vulnerability at $115 million. Other July incidents include a $9 million attack on DeFi lending protocol Bonzo Lend, a $2.6 million theft from the Cardano-based wallet SecondFi, a $24 million drain of Arbitrum-based perpetual trading platform AFX, and a $7.5 million loss at Verus Ethereum Bridge.

ChainFeeds’ Aug. 7 research brief pulled together five strands that are shaping the digital-asset market in very different ways, but all point to the same shift: crypto is being pushed out of its old liquidity-driven phase and into a more rules-based, value-tested one. The report says Japan has become a rare market where regulators, large banks and stablecoin issuers are all building around AI agents at the same time, with FIEA amendments, tax reform expectations and licensed yen stablecoins setting the backdrop. On Ethereum, imToken Labs examined FOCIL, a proposal that would move transaction inclusion power away from a single proposer and toward a validator committee, turning censorship resistance into something enforced by protocol rules rather than participant promises. Axel Adler Jr, writing on Bitcoin, argued that the recent price rebound still lacks demand confirmation: both the 30-day apparent demand-to-issuance ratio and 30-day net age flow have recovered from July lows, but remain below zero. The brief also highlighted growing concern over HYPE’s value capture model as HIP-3 trading becomes increasingly concentrated in trade.xyz, even as Hyperliquid’s broader volumes remain large. Finally, it argued that collapsing valuations and project shutdowns do not by themselves signal industry decline, but a repricing in which revenue, users and token value capture matter more than narrative alone.