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Ionet (IO) announced on its official X account that it has burned one million IO tokens in the first month since implementing its burn mechanism. The move follows the network generating cumulative revenue of $25.75 million. In June, Ionet unveiled its new tokenomics model, the Incentive Dynamic Engine (IDE). The core feature of the IDE is the permanent burning of IO tokens using revenue from service usage, which adjusts the token supply based on network activity.

Nigel Farage, leader of the hardline conservative party Reform UK, has announced he will resign from his seat in the House of Commons and run in a by-election amid an investigation into illegal crypto lobbying. According to The Block, Farage announced his resignation on X, denying the allegations and stating there was no wrongdoing or misuse of public funds. He is currently under investigation for allegedly lobbying the Bank of England on cryptocurrency policy after receiving an undeclared donation of £5 million ($6.7 million) from Christopher Harborne, a major shareholder in Tether.

The XRP Ledger (XRPL) has released its server software V3.2.0, CoinDesk reported. The new version includes features designed to reduce network operating costs and improve stability, along with enhanced security for single-asset vaults, permissioned decentralized exchanges (DEX), multi-purpose tokens (MPT), and lending protocols. It also adds a function to prevent residual data from being left behind by deleted accounts. However, for the upgrade to be implemented, it must be supported by over 80% of validators on the Unique Node List (UNL) for two consecutive weeks. Meanwhile, a separate on-chain vote is underway for an amendment containing security fixes.

Jeff Walton, Chief Risk Officer (CRO) at strategic Bitcoin investment firm Strive, has assessed Strategy's recent sale of 3,500 BTC as effectively bullish news that will help the company purchase more Bitcoin in the future, according to BitcoinTreasuries. He explained that the sale supports Strategy's financial structure and enhances its capacity for future growth, ultimately serving as a foundation for acquiring additional Bitcoin. Walton added that MicroStrategy (MSTR) shareholders should therefore view this shift in asset management positively.

India's central bank has reaffirmed its position that its cryptocurrency policy should be geared towards a ban, Reuters reported. According to an Indian government document reviewed by the outlet, major government agencies in the country favor stricter regulations on crypto. However, the Indian government has not yet finalized an official policy to either fully ban or regulate cryptocurrencies.

According to CoinNess market monitoring, BTC has fallen below $62,000. BTC is trading at $61,976 on the Binance USDT market.

The Hyperliquid (HYPE) team is earning $1 million in daily interest from its staked HYPE holdings, EmberCN reported. According to the report, the team was allocated 238 million HYPE ($16 billion), all of which is currently staked, generating a daily yield of 14,400 HYPE. In the 1.5 years since the token's listing, the team has accumulated 8.08 million HYPE ($565 million) in staking rewards and has sold approximately 4.93 million of those tokens. As a result, the team's current holdings are estimated to be 241 million HYPE ($16.5 billion), exceeding its initial allocation.

U.S. President Donald Trump stated that he considers the negotiations for a memorandum of understanding (MOU) with Iran to be over. He added that he does not want to deal with them, calling them sick people.

Canton Network (CC) is evolving beyond real-world asset (RWA) tokenization to become an integral part of the financial market's structure, according to a new report from Asian Web3 research and consulting firm Tiger Research. The firm highlighted Canton's institution-focused design, which uses smart contracts to protect sensitive trade secrets while eliminating transaction risk through atomic settlement—the real-time, simultaneous exchange of assets and payments. In its report, titled 'The Capital Market Below the Iceberg: The Financial Infrastructure Canton Network is Changing,' Tiger Research noted that the network is expanding from the West into Asia. In South Korea, participants in its ecosystem include Hanwha Investment & Securities, Shinhan Investment & Securities, Shinhan Asset Management, and KB Securities. New businesses and products leveraging Canton's technology are also emerging in Japan, Hong Kong, and Singapore. The report argued that the current market focus on asset tokenization is merely the "tip of the iceberg," with a market worth trillions of dollars hidden beneath it that could fundamentally reshape traditional finance. Tiger Research stressed that for financial firms, joining this trend is "a matter of survival, not choice," urging them to learn from companies that lost their lead by hesitating to adopt the internet.

AmberCN reported that HyperLabs deposited 452,000 HYPE, worth $32.3 million, to an address associated with market maker Flowdesk. A portion of these funds was subsequently sent to OKX, Bybit, and Gate.io. In response, analytics firm Hubzy, formerly Spot On Chain, noted that selling through a market maker is a clear sign of supply pressure. The firm added that Flowdesk's deposits to exchanges suggest the sell-off may still be in progress and advised monitoring the HyperLabs wallet for further withdrawals, as any additional token movements could create more direct selling pressure.

The trading volume of traditional finance (TradFi) asset futures on crypto exchanges has surged 1,472-fold in about 18 months, according to a new report from crypto data platform CoinGecko. The report, titled "2026 TradFi on Crypto Exchanges," found that volume reached $347.1 billion in May of this year, a massive increase from $230 million in January 2025. The cumulative TradFi futures volume from January to May 2026 hit $1.32 trillion, already far exceeding the $104.2 billion recorded for all of 2025. Additionally, futures trading volume for real-world assets (RWA) surpassed spot volume for the first time last November. Among the 12 exchanges surveyed, MEXC led in the number of listed products with 358 (199 spot and 159 futures), followed by Gate with 224 and Weex with 192. In terms of market share, Binance holds the top position with 35.9%, while MEXC is second at 22.8% and decentralized derivatives exchange Hyperliquid is third with 19.8%. CoinGecko noted that tokenized stock trading volume is still less than 1% of the actual stock market, suggesting there is significant room for growth as infrastructure and liquidity mature.

The Solana-based liquid staking token Jito (JTO) has experienced a sharp drop since around 7:00 a.m. UTC today. The token is trading at $0.6343 on Binance against USDT, down 19.65% over the past 24 hours.

Cardano (ADA) founder Charles Hoskinson has accused the Ethereum (ETH) Foundation of copying a concept that Cardano has been developing for a decade without giving credit. According to The Crypto Basic, Hoskinson described Cardano's extended UTXO model as one of the greatest innovations in smart contract design, a topic he has researched for over 10 years. He asserted that the Ethereum team is attempting to replicate the concept while making any mention of Cardano taboo, and suggested they might copy other Cardano innovations in the future. The media outlet added that the Ethereum Foundation's proposal outlines a UTXO payment system to reduce network load by processing transactions as one-time events instead of through the existing stateful method. The proposal credits Bitcoin's one-time payment model for the idea, with no mention of Cardano.

Iran's Foreign Ministry issued a statement condemning the United States for what it described as a blatant violation of a temporary agreement between the two countries.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.53% long, 50.47% short - Binance: 48.86% long, 51.14% short - OKX: 49.34% long, 50.66% short - Bybit: 48.85% long, 51.15% short

Japanese brokerage Shibo Securities, which was acquired by the Bitcoin-accumulating firm Metaplanet, has announced plans to change its name to Metaplanet Securities. The change is subject to shareholder approval at a meeting scheduled for July 13. Following the integration, the company intends to build a "BTC x Finance" platform to provide Bitcoin-based products to retail investors. This move follows Metaplanet's previously announced acquisition of a 100% stake in Shibo Securities for 2.1 billion yen ($13 million).

Australian exchange Swyftx has obtained an Australian Financial Services Licence (AFSL) from local financial authorities, signaling its entry into the cryptocurrency payments business, Cointelegraph reported. The license permits the company to offer crypto derivatives to retail investors and provide non-cash payment services, but it does not include the authority to handle spot cryptocurrencies. Swyftx also plans to expand its international presence beyond New Zealand and the United States.

On July 7, the Solana (SOL) and Hyperliquid (HYPE) spot ETFs recorded net inflows, while the XRP spot ETF saw no net change. - SOL: +$1.7 million - HYPE: +$4.3 million

The Robinhood Chain-based memecoin Cashcat (CASHCAT) has extended its rally, surpassing $0.11. According to CoinMarketCap, the token is currently trading at around $0.112, up approximately 1,600% from yesterday, with a market capitalization of about $112 million. CASHCAT began its sharp ascent on the morning of July 8, driven by its association with Robinhood and speculation about a potential future listing.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section displays a Volume Heatmap, while the bottom shows the Cumulative Volume Delta (CVD). - The top section, the Volume Heatmap, tracks trading volume at specific price levels. The background color brightens when the price consolidates in a range or makes a significant move. These brighter areas can potentially act as support or resistance levels. - The bottom section, the Cumulative Volume Delta (CVD) indicator, shows buy and sell orders categorized by size. An increase in buy orders causes the corresponding colored line to rise. For example, the yellow line represents orders between $100 and $1,000, while the brown line indicates large orders ranging from $1 million to $10 million.

Stocks of recently listed cryptocurrency-related companies have fallen sharply from their post-listing highs, according to 10x Research. Among these firms, Gemini (GEMI) saw the largest drop at 91%, followed by Amber (AMBR) at 89%, BitGo (BTGO) at 79%, Circle (CRCL) at 78%, Coinbase (COIN) at 63%, and Securitize (SECZ) at 41%. The data indicates that the stock prices of eight recently listed virtual asset companies have declined by an average of 73% from their post-listing peaks. The report noted that a sharp decline in stock prices after listing has become a common trend for cryptocurrency company IPOs.

A sell-side sidecar, which temporarily halts program sell orders, was triggered for the KOSPI amid a sharp decline in the index. This marks the second consecutive trading day the measure has been activated.

U.S. spot Bitcoin ETFs saw net inflows of approximately $21.5 million on July 7, marking the third consecutive day of positive flows, according to data from Farside Investors. - BlackRock's IBIT: +$54.8 million - Fidelity's FBTC: -$24.9 million - Ark Invest's ARKB: -$8.4 million

U.S. spot Ethereum ETFs recorded a net inflow of $26.9 million on July 7, marking the fourth consecutive trading day of inflows, according to data from Farside Investors. - BlackRock (ETHA): +$26.9 million

Vladimir Tenev, CEO of the U.S. stock and crypto trading app Robinhood (Nasdaq: HOOD), stated that while the Robinhood Chain is being optimized for real-world assets (RWA), it also demonstrates excellent performance for running projects like memecoins. His remarks follow a surge of approximately 950% in the last 24 hours for CASHCAT, a memecoin on the Robinhood Chain. This appears to contrast with his comments on July 3, when he said the future of digital assets lies in RWA. At that time, he emphasized bringing proven real-world assets on-chain rather than creating tokens without tangible utility, such as memecoins, adding that there is no point in creating hundreds of memecoins if they are not productive assets.