Ondo-linked addresses have transferred another 13.43 million ONDO to Coinbase, according to on-chain analyst Ai Yi. The monitored wallets were identified as 0xFA06...8223 and 0xEA57...75e1. Ai Yi said the related addresses appear to have sold ONDO worth $29.94 million over the past 30 days. In the latest activity, two multisig wallets moved tokens worth $4.42 million to Coinbase over the past 10 hours. Despite those transfers, the linked addresses still hold ONDO worth $12.68 million on-chain. The update was reported by Odaily as a brief market item and did not include any additional statement from the Ondo team or Coinbase. The report focuses on the latest wallet movements and the scale of recent suspected selling tied to the addresses being tracked.

CoinDesk’s Aug. 13 Daybook excerpt centered on the risk tied to concentrated bitcoin treasury strategies after two of the largest listed holders disclosed massive unrealized losses. Tokyo-listed Metaplanet said its 43,000 BTC position carried a $1.5 billion paper loss as of the end of June, while Strategy, described as the world’s largest public digital asset treasury company, reported a comparable $8.2 billion unrealized loss last month. Together, the two figures come to nearly $10 billion. CoinDesk framed that amount by saying a hypothetical token representing those losses would rank as the 11th-largest digital asset by market capitalization, behind DOGE and ahead of ONDO, ZEC and AAVE. The report said the figures highlight both bitcoin’s growing financialization and the risk of concentrating exposure in a single token, especially as many digital asset treasury firms have relied on debt issuance to fund BTC purchases. Even so, the market has not shown obvious concern so far, with bitcoin holding in a $62,000 to $66,000 range for weeks and trading mostly below $64,000 during the session discussed in the report. Analysts cited by CoinDesk remained divided between technical optimism and macro-driven positioning ahead of Jackson Hole and upcoming economic data.

Ondo Finance has decided it will not run both Ondo Chain and Ondo Network in parallel, with CEO Ian De Bode confirming the company has abandoned the blockchain-based execution model and will keep Ethereum as the settlement layer instead. The revised design moves execution into trusted execution environments, where approved code runs inside hardware-isolated enclaves and key material is split across operators, while asset transfers continue to settle on Ethereum. The argument behind the shift is straightforward: for order matching, Ondo sees blockchain as an expensive bundle of consensus, replication, transparency, and final-state settlement. In its view, consensus and replication add latency, while transparency exposes information that a trading venue does not want to publish in real time. The piece contrasts this approach with examples from traditional finance and crypto, including ASX’s failed CHESS replacement, DTCC’s tokenization push, Coinbase’s Base, Robinhood’s tokenized stock effort, dYdX’s app-chain move, Hyperliquid’s validator model, and Unichain’s struggle to capture Uniswap activity. The article also notes that trusted execution environments come with their own risks. Recent hardware attacks against Intel and AMD, including the TEE.fail research, showed that physical access can break assumptions around enclave security. Ondo’s next phase will separate code attestation, key custody, and server hosting across different entities, while posting final state on-chain and adding proof-of-stake and slashing later.

A PANews opinion piece by columnist Haotian argues that the crypto market has shifted away from trading on narratives and pre-launch expectations and is now focusing far more on cash flow and real-world execution. Based on discussions with several experienced on-chain participants, the author lays out four screening rules for the current cycle. First, he favors tokens with clear value-capture mechanisms, especially protocols that generate fees and return value to holders through buybacks, burns, or distributions, citing $UNI, $PUMP, $PONS, and $HYPE as examples. Second, he says projects should have already achieved product-market fit and built a working business loop, with asset tokenization and the so-called Agentic Economy named as two areas to watch, including examples such as $ONDO, $VVV, and $VIRTUAL. Third, he argues that assets with strong cross-cycle market consensus, including $DOGE, $PEPE, $PEOPLE, $ZEC, and $TAO, remain relevant because they have survived multiple boom-and-bust phases. Finally, he warns against pure VC-backed tokens with high fully diluted valuations, low circulating supply, and ongoing unlock pressure. The article states that the discussion reflects personal views only and does not constitute investment advice.

Grayscale Investments has released the second-quarter 2026 rebalancing results for several of its multi-asset crypto funds, with changes made under the methodology of the indexes each product tracks. In the Grayscale Smart Contract Platform Fund, the firm sold part of its existing holdings and used the proceeds to buy BNB, making it the fund’s largest position as of Aug. 3. In the Grayscale Decentralized AI Fund, NEAR Protocol was sold and the capital was redistributed across the fund’s remaining components. Grayscale also adjusted its DeFi Fund by selling Uniswap and reallocating the proceeds based on the existing weight of current holdings. The updated portfolio breakdowns disclosed by the firm show how those moves reshaped exposure across BNB, ETH, SOL, TAO, RENDER and other tokens.

Grayscale has completed the scheduled rebalancing of its multi-asset digital asset funds for the second quarter of 2026, according to Globenewswire. The changes covered the Grayscale DeFi Fund, the smart contract fund and the decentralized AI fund. In the DeFi portfolio, the firm sold Uniswap (UNI) and redistributed the proceeds based on existing component weights. As of Aug. 3, UNI still accounted for 34.16% of the fund, followed by ONDO at 25.44%, AAVE at 19.97%, ENA at 12.19%, CRV at 4.42% and LDO at 3.82%. In the smart contract fund, Grayscale sold part of its existing holdings under index rules and used the proceeds to buy BNB, which became the fund’s largest position at 30.6%. The decentralized AI fund sold NEAR and reallocated the proceeds across current holdings, with NEAR, TAO, RENDER and FIL listed as of Aug. 3.

MarsBit’s Weekly Editor’s Picks for July 25-31 gathers a broad set of market and policy readings across crypto, macro, AI infrastructure, tokenized equities, Ethereum staking, and platform risk. The roundup highlights a Federal Reserve meeting described as one of the most uncertain in recent years, with softer June CPI, weaker nonfarm payrolls, and lower oil prices arguing for patience, while sticky inflation, Middle East tensions, hawkish Fed remarks, and an unclear policy record from Chair Waller kept a hike risk on the table. The piece says markets had already paid for that risk. On regulation, the selection says the Clarity Act has reached the political equivalent of the final yard line, but its 2026 passage odds were cut to 30% because of limited time and Democratic objections to the current ethics language. It also notes competition for Senate floor time with other contested bills. Elsewhere, the roundup points to Lido’s migration of more than 8 million ETH, worth about $16 billion, into a new validator architecture after Pectra; ONDO’s 30% rise over three weeks as tokenized stock activity picked up onchain; and a string of AI and memory-market stories focused on credit risk, capital spending visibility, and how SK Hynix is being judged against already elevated expectations.

Real-world asset markets kept expanding in the week covering July 24 to July 31, 2026, even as stablecoin settlement activity remained weak. Data from RWA.xyz showed on-chain RWA market capitalization reached $36.82 billion as of July 31, up 2.43% from a month earlier, while the number of holders climbed to 1.4469 million, a 40.81% monthly increase and the largest monthly gain on record. In stablecoins, total market capitalization was largely unchanged at $296.63 billion, but monthly transfer volume dropped 29.29% to $5.07 trillion, extending a sharp slowdown in on-chain settlement demand. Regulation also moved across several jurisdictions. South Korea advanced work on a comprehensive digital asset bill that would cover stablecoin issuance and exchange standards, while lawmakers are also set to review an opposition proposal to scrap a crypto tax scheduled for 2027. Kenya lowered the minimum paid-up capital requirement for stablecoin issuers by 40% to about $2.32 million, and Zimbabwe approved seven crypto and tokenization projects for its regulatory sandbox. On the industry side, the Bank for International Settlements-led Project Agorá completed a live cross-border payment test worth about $1 million across six currencies with five central banks and 28 commercial banks. In Europe, 10 financial institutions formed the Regulated Layer One cooperative, or RL1, to build tokenized asset infrastructure for regulated markets. Ondo Finance also introduced Ondo Network, a new execution layer that replaces the prior Ondo Chain direction.