Lookonchain said trader 0x4c8f made more than $1.2 million in profit in less than seven hours, a reported 77x return on a PIPEDOG trade. According to the on-chain tracker, the trader spent 8.39 ETH, worth about $16,000, six hours earlier to buy 293.75 million PIPEDOG. The wallet later sold 34.55 million PIPEDOG for 32.67 ETH, or about $62,000. The address still holds 259.2 million PIPEDOG, valued at about $1.18 million based on the figures cited in the report. Lookonchain said the trader’s total profit exceeded $1.2 million.

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.

PIPEDOG, a meme coin on the Robinhood chain, reached a market capitalization of more than $74.5 million within four hours of launch, according to data cited by BlockBeats from GMGN. Trading volume stood at $34.8 million at the time of the update. The move put the token on traders’ radar shortly after listing, with both market cap and turnover climbing quickly in its first hours on the market. BlockBeats also carried a risk reminder alongside the data, saying that meme coins often lack practical use cases and can see large price swings. The outlet urged users to stay cautious when making investment decisions.

An AI investment fund set up or led by Liquid Capital founder Yilihua and his team has released its first research report, focusing on Axe Compute as a U.S.-listed AI infrastructure company it says deserves closer attention. The report argues that the company, formerly Predictive Oncology, has shifted from a micro-cap biotech profile to an AI compute and treasury model tied to Aethir’s ATH token. It highlights a series of contracts announced in 2026, including a newly disclosed $1.3 billion AI infrastructure agreement on July 22, and lays out how Axe’s Immediate Access and Build programs are supposed to scale into recurring revenue. The note also compares Axe with CoreWeave, reviews the company’s first-quarter financials, and presents valuation models based on forward price-to-sales and price-to-ARR metrics. At the same time, the report flags risks around contract execution, revenue conversion, financial verification, and broader AI infrastructure valuation assumptions. Its core view is that Axe Compute remains materially underpriced if signed contracts turn into reported revenue and annual recurring revenue as management expects.

Bitcoin treasury firm BSTR will not complete its SPAC merger with Cantor Equity Partners I under the original terms and is now discussing a revised structure.

Nasdaq-listed digital insurance products company Zhibao Technology said it has signed a non-binding term sheet with Joyertech and Information OPC for a proposed private investment in public equity, or PIPE, transaction. Under the plan, Zhibao would sell stock and receive about 3,500 BTC as consideration, valued at roughly $220 million at current prices. The proposed deal has not been finalized and remains subject to several conditions, including final valuation, custody arrangements, audit verification, regulatory review, Nasdaq compliance, and execution of definitive agreements. The term sheet also indicates that, at closing, the buyer is expected to designate a majority of Zhibao’s board members, while the existing management team would continue to handle day-to-day operations. Separately, Zhibao disclosed on July 15 that it had received a Nasdaq deficiency notice because its share price had fallen below the $1 minimum bid requirement. The company said it has 180 calendar days, until January 6, 2027, to regain compliance.

Kraken has reportedly paused its IPO plans as crypto market weakness pressures valuations and investor appetite. The exchange had confidentially filed with the SEC after raising $800 million at a $20 billion valuation.

Strive has raised its Bitcoin holdings to 13,628 BTC, moving ahead of Tesla’s 11,509 BTC. The company said structured finance, share sales, and cash reserves are supporting its ongoing accumulation strategy.