News linked to both this project and an event.
According to The Block, South Korea's largest cryptocurrency exchange Upbit saw a 273% surge in trading volume over the past 24 hours, reaching approximately $1.84 billion and marking its highest single-day level since mid-March. XRP was the most traded cryptocurrency on the platform, with approximately $419 million in volume, followed by Bitcoin, USDT, and Ethereum.
Odaily News - Investment firm Bernstein recently released a report assigning different ratings to two major Bitcoin miners transitioning to AI infrastructure: maintaining an "Outperform" rating on CleanSpark with a price target of $24, and initiating coverage on MARA Holdings with a "Market-Perform" rating and a price target of $17.Bernstein analysts stated that the core reason for the valuation divergence between the two companies lies in their differing progress in executing AI infrastructure transitions. CleanSpark has already signed an anchor tenant agreement for an AI data center and commenced construction, while MARA is still awaiting its first commercial AI contract.Regarding CleanSpark, the company previously announced the signing of a 20-year triple-net lease agreement with a global high-investment-grade technology firm, covering 175MW of IT capacity at its Sandersville, Georgia project. The agreement also includes exclusive cooperation arrangements for CleanSpark's total 885MW asset portfolio in Texas. Bernstein believes that CleanSpark's collaboration with tenant-designated engineering and construction contractors helps mitigate risks associated with its first large-scale AI infrastructure deployment. The first data center hall is expected to become operational in the fourth quarter of 2027.In contrast, Bernstein's assessment of MARA is more cautious. Analysts pointed out that the first commercial AI contract will serve as a key catalyst for a re-rating of MARA's stock, noting that company management previously indicated expectations of signing at least two AI lease agreements by the end of this year. (The Block)
Odaily Odaily News: Wall Street investment firm Bernstein has reaffirmed its "Outperform" rating on stablecoin issuer Circle Internet Financial, maintaining a $140 price target.Bernstein stated that Circle's second-quarter performance effectively addressed previous market concerns regarding intensifying stablecoin competition and the growth potential of reserve asset income. Analysts believe that Circle's expanding partnerships, regulatory licensing progress, and the upcoming Arc blockchain project will bring new revenue streams to the company—growth drivers that are not yet fully reflected in current market expectations.As the stablecoin market continues to expand, Circle is expected to further broaden its business model through payment infrastructure, on-chain financial services, and ecosystem collaborations, with its future growth potential still underestimated by the market. (The Block)
According to The Block, Cloudflare has announced the early launch program for programmable stablecoin wallets, designed specifically for AI agents to pay for APIs, data, and online content. The wallets are divided into two categories: Account Wallets for individuals and institutions to fund and control spending, and Virtual Wallets that operate via API keys, allowing AI agents to complete purchases autonomously. Users can set spending limits, authorized merchant lists, and per-transaction limits. The wallet will support the x402 protocol developed by Coinbase, enabling machine-to-machine micropayments without traditional accounts or subscriptions. Currently, users can claim wallet accounts in advance, with funding and payment functions going live soon.
据 The Block 报道，德克萨斯州州长 Greg Abbott 本周一下令要求公用事业委员会（PUCT）及电网运营商 ERCOT 对州内所有在队列中的数据中心项目展开审计，ERCOT 随即暂停了原定本月公布结果的"Batch Zero"大型用电审批流程。目前数据中心申请占 ERCOT 474GW 互联队列的约 90%。 Bernstein 分析师在周二发布的客户报告中指出，此次监管审查将抑制投机性开发、压缩新增电力容量供给，从而提升已获批电力容量的稀缺价值，利好现有比特币矿企及 AI 运营商。报告点名 Cipher Digital（CIFR）、CleanSpark（CLSK）及 Core Scientific（CORZ）受审计影响较大，因其近期扩张计划依赖德州电网接入；而 Terawulf（WULF）因电力资产分布于肯塔基、马里兰及纽约等多州，抗风险能力较强；Riot Platforms（RIOT）和 IREN 则因已在 ERCOT 拥有大规模获批运营资产而受益。
According to The Block, Bernstein analysts indicated that the likelihood of the U.S. Clarity Act passing within 2026 is declining, with the Senate left with only this week's window (before recess on August 7). Analysts noted that if the bill fails, the digital asset market may experience a negative reaction in the short term, but the SEC and CFTC will accelerate rule-making under the "Project Crypto" framework, covering token classification, DeFi, and self-custody regulatory details, while continuing to promote innovative areas such as tokenized real-world assets (RWA), perpetual contracts, and prediction markets. CFTC Chairman Michael Selig previously also warned that if Congress fails to act, regulators will be forced to "take over all rule-making". Currently, bipartisan senators Thom Tillis and Ruben Gallego have submitted a revised ethics compromise proposal, and negotiations are still ongoing.
According to The Block, the JPMorgan analyst team (led by Managing Director Nikolaos Panigirtzoglou) released a report on July 30 stating that the probability of the "Clarity Act" (Crypto Market Structure Act) passing in the US Senate within the year has dropped to a historic low. The Kalshi prediction market shows a passing probability of only 37%, while Polymarket is even lower at 26%. Analysts pointed out that disagreements on core issues such as ethical provisions, enforcement standards, stablecoin yields, decentralized finance, and illicit finance remain unresolved. Voting is expected to be difficult to complete before the Senate summer recess, and may be postponed until after senators return in mid-September.
According to The Block, bipartisan Senators Thom Tillis (Republican) and Ruben Gallego (Democrat) submitted a new ethics compromise proposal to the White House on Thursday morning local time, attempting to break the deadlock in advancing the Clarity Act cryptocurrency legislation. Currently, there is less than a week left until the Senate recesses on August 7, but the bill still has not obtained the 60 votes required for passage. Democrats insist on adding stricter ethics provisions to constrain the Trump family's crypto interests, including the Meme coins they issued and the World Liberty Financial project in which the family participates, while some Republican senators have objections to the stablecoin interest provisions, worrying that it will divert deposits from traditional banks to the crypto sector. Although the draft leaked last week prohibited public officials and their spouses from issuing digital assets, it did not cover other family members, and included a "sunset clause" expiring in January 2029, which critics believe essentially nullifies the entire ethics provision. Treasury Secretary Scott Bessent subsequently blamed the Democrats on X, stating that they "chose political gaming on the verge of a major victory". The Crypto Innovation Committee (CCI) warned that if the bill fails to pass, the US will hand over its global leadership position in the field of crypto regulation.
According to The Block, Bernstein analyst Gautam Chhugani lowered Circle (CRCL)'s price target from $190 to $140, but maintained an "Outperform" rating, implying approximately 118% upside potential compared to the current stock price of $64.32. Bernstein expects Circle's Q2 performance to be essentially flat, with USDC supply decreasing from $77 billion at the end of Q1 to $73 billion. Regarding market concerns over the competitive threat from the Open USD alliance, Bernstein believes its cohesion is insufficient; Visa also stated it will maintain a multi-currency, multi-chain strategy and will not bet on a single winner. Additionally, the profit-sharing agreement between Circle and Hyperliquid is expected to transfer approximately $190 million in reserve yield annually to the latter, with the full impact to be reflected in Q3. Bernstein also lowered its end-of-2026 USDC supply forecast by 37% to $83 billion, but remains long-term bullish on Circle capturing approximately 30% share of the global stablecoin market by 2035.
According to The Block, Alex Svanevik, CEO of on-chain data platform Nansen, stated that AI trading agents are expected to surpass human traders within the next two years. To this end, Nansen is expanding its platform from on-chain data analysis to direct trade execution, aiming to achieve "all-asset on-chain trading via agents." He mentioned that the platform has launched relevant trading features, with cumulative trading volume exceeding $500 million.
According to The Block, Bitcoin rose above $65,800 on July 22, hitting a new high in over a month, with a monthly gain of approximately 2%. Spot Bitcoin ETFs recorded net inflows for the sixth consecutive day, with single-day net inflows of $203 million on Tuesday. Spot Ethereum ETFs recorded net inflows of $37.5 million on the same day, marking three consecutive days of positive inflows. Analysts have identified the next key resistance level near $68,000 — this price level represents the convergence zone of the short-term holder cost basis and the Q2 opening price, where a large number of trapped buyers will break even, and the first touch is expected to trigger massive selling pressure.
Odaily data shows that Solana and Hyperliquid ETF trading volumes together account for nearly 80% of all non-BTC and non-ETH ETF trading volume. The Solana ETF currently has an assets under management (AUM) of $904 million, while Hyperliquid-related funds have accumulated a net inflow of $350 million since their launch two months ago. The combined ETF sizes of both represent approximately 2% of their respective tokens' market capitalizations. (The Block)
According to The Block, TD Cowen lowered The Smarter Web Company's target price from £1 to £0.64, maintaining a buy rating. The analyst cited factors such as revised Bitcoin price forecasts, recent treasury activities, and updated dilution assumptions, while noting that the company's Q2 Bitcoin holdings increased from 2,699 BTC to 2,878 BTC. The stock closed up 2% last Friday at £0.29.
According to The Block, JPMorgan analysts pointed out in the latest report that although recent spot Bitcoin ETF fund inflows have fluctuated significantly, Strategy's increase of USD reserves from $2.55 billion to $3 billion (covering approximately 20 months of preferred stock dividends), as well as Bitcoin futures (including CME futures and perpetual contracts) recording positive fund inflows this week, are both "positive signals" for Bitcoin's prospects. The analysts also noted that leveraged ETF inflows linked to Strategy have remained stable for seven consecutive weeks, mainly driven by retail investors, effectively supporting its stock price. Meanwhile, Strategy President and CEO Phong Le stated that the company is "very confident" in its balance sheet, will only consider debt risk if Bitcoin prices fall to the $8,000 to $10,000 range, and plans to continue issuing additional shares after the STRC preferred stock returns to a $100 par value, with the proceeds potentially used to purchase more Bitcoin.
Interactive Brokers has announced the addition of support for trading 12 new cryptocurrency tokens via Zero Hash and Paxos. With this expansion, its users can now trade a wider range of digital assets. The platform has also launched a stablecoin withdrawal feature, allowing clients to convert their U.S. dollar balances into stablecoins and withdraw USDC, PYUSD, and RLUSD to external wallets. This functionality means users can not only hold digital assets in their traditional brokerage accounts but also transfer stablecoins to on-chain wallets, further bridging the gap between traditional financial accounts and the crypto ecosystem. (The Block)
Odaily Benchmark has raised its price target for Hut 8 (HUT) from $85 to $165, citing the company's accelerated commercialization of its AI data center business and a total of $16.8 billion in long-term contracts for AI infrastructure. Analyst Mark Palmer stated that the commercialization progress of Hut 8's Beacon Point AI data center campus in Texas "has changed the company's valuation logic," significantly increasing the project's value.Currently, Hut 8's stock price is approximately $97, meaning Benchmark's new target implies roughly 69% upside. The stock had previously fallen nearly 30% over the past six weeks.According to Benchmark's estimates, the redesigned first phase of the Beacon Point campus will support 352MW of IT capacity, a 57% increase from the original 224MW plan. The base term value of the lease for this initial phase is approximately $9.8 billion, with an estimated annualized net operating income of around $655 million.Additionally, the lease agreement for Hut 8's River Bend data center, signed with Fluidstack and supported by Google, is valued at approximately $7 billion. The combined base term value of the two contracts reaches $16.8 billion. If tenants exercise the included 5-year renewal options, the potential total value could rise to $42.8 billion. (The Block)
According to The Block, Mizuho Bank analysts noted that while Circle's approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank helps enhance its compliance credibility, it is insufficient to resolve current core pressures—the continued shrinkage of USDC market cap and increasingly fierce competition from Open USD—which still constitute a significant drag on $CRCL stock price.
据 The Block报道，币安联席首席执行官 Richard Teng 表示，在币安因 MiCA 过渡截止而暂停部分欧盟服务后，相关用户提取的资金中，约 70% 流向自托管钱包，约 30% 转入持牌合规平台。
Standard Chartered stated that it maintains its Bitcoin price prediction of reaching $100,000 by the end of 2026, believing that the recent market decline triggered by Strategy's (formerly MicroStrategy) related activities is not due to a deterioration in the company's balance sheet, but rather a strategic adjustment that the market has not fully understood.Geoffrey Kendrick, Head of Digital Assets Research at Standard Chartered, noted in a report that Strategy's recent behavior is disrupting short-term market expectations for Bitcoin. The market had previously accepted the company's narrative of "never selling Bitcoin," but now Strategy appears to be shifting towards a more complex capital operation model. How clearly the company can communicate this change will determine when market pressure eases.Currently, Strategy holds 843,775 Bitcoins, representing approximately over 4% of the total 21 million Bitcoin supply. From 2020 to mid-2025, Strategy's mNAV (Market Value of Enterprise / Bitcoin Asset Value) was consistently above 1, allowing the company to raise funds through stock issuances to purchase Bitcoin and achieve shareholder value growth. The commitment to "never selling Bitcoin" was central to this model gaining market acceptance. However, with the current mNAV approaching 1, the leverage effect of this financing model is weakening.Kendrick believes Strategy is transitioning from a "Bitcoin accumulation tool" to a "Bitcoin credit support tool." This involves using its Bitcoin holdings as the credit basis for its perpetual preferred stock, STRC. Currently sized at approximately $10 billion, STRC is the largest financial instrument launched by Strategy, offering an annualized dividend rate of 12%, paid semi-monthly in cash, and is designed to maintain a price near its $100 par value through interest rate adjustment mechanisms.Standard Chartered indicated that STRC is currently trading around $90, while Strategy's dollar reserve for paying dividends stands at approximately $2.55 billion, covering an estimated 17.4 months of dividend expenses.Kendrick stated that Strategy's policy adjustment allowing for Bitcoin sales does not necessarily mean the company will continuously sell. He believes that as long as the market believes the new capital structure arrangement can stabilize the STRC price, Strategy may not actually need to sell Bitcoin. He compared this mechanism to a central bank's commitment to "do whatever it takes": mere restoration of market confidence may mean actual intervention never occurs. (The Block)
According to The Block, JPMorgan analysts pointed out in their latest report that although Strategy's Bitcoin selling plan has triggered market attention, it is not the core risk facing Bitcoin. The real structural threat lies in the fact that blockchain applications such as tokenization, payments, and settlements are increasingly occurring on permissioned chains (Permissioned Blockchain), rather than on public chains such as Ethereum. If this trend continues, the public chain ecosystem will face issues such as declining liquidity and weakened capital inflows, ultimately dragging down Bitcoin valuations. The analysts also warned that the proliferation of bank-built blockchain infrastructure and tokenized deposits could undermine the position of stablecoins in institutional payments; regulated alternatives such as SWIFT's blockchain plan, the digital euro, and the digital yuan also constitute competitive pressure. However, the analysts also pointed out that if hybrid public-private chain models emerge, stablecoin regulation becomes clearer, or Bitcoin continues to be held as "digital gold", the aforementioned risks may be mitigated.