DEX

Grayscale Investments said several leading revenue-generating crypto protocols are trading at relatively low valuation multiples. The asset manager said a potential CLARITY Act vote in the coming weeks could bolster growth in on-chain finance and tokenized assets. The firm pointed to revenue rankings that it said highlight discounted multiples across major on-chain applications.

Price can tell one story, while trading-volume dominance tells another. Solana is notching a market-structure milestone tied to network usage rather than where SOL is trading. The key signal is activity concentrating on Solana-based DEXs instead of being reflected in token price performance.

Atlas plans to launch USAFi in Q3 2026 under Dubai’s VARA framework, positioning it as a regulated permissionless digital security backed by a Nasdaq-listed ETF. The initiative marks economist Nouriel Roubini’s first step into digital assets after years as one of crypto’s most vocal critics. Atlas says the token will be supported by Nasdaq-listed USAF reserves and is intended to offer DeFi access while helping preserve value.

San Francisco-based Ground came out of stealth on June 24 after raising $3.6 million in a pre-seed round co-led by Bain Capital Crypto and ParaFi. The raise was structured as a SAFE with token warrants and did not grant investors any board seats or advisor roles. The financing closes a fundraise that started in September 2025 and wrapped the following month.

On-chain indicators diverged from UNI’s bearish spot-price trend. The data pointed to a change in the composition of holders.

Grayscale says revenue-generating crypto protocols are trading at unusually low multiples. It argues these valuations create attractive entry points.

Hyperliquid, a decentralized derivatives exchange that also runs its own blockchain, accounts for 44% of on-chain perpetuals trading volume. It launched without venture capital backing or a token presale. The project’s HYPE token is used across staking, governance and the HyperEVM environment, and is also tied to an automated buyback mechanism. The model comes with risks that include leveraged trading dynamics, validator intervention and future token unlocks.

A joint investigation by blockchain analytics firm Elliptic and Thailand’s police has identified more than half a billion dollars in suspicious cryptocurrency transactions across Southeast Asia. The probe traced activity across 32 blockchains.

Standard Chartered said Aave could reach $3,500 by the end of 2030, implying a 50x gain. The forecast is based on the bank’s expectation that the value of assets active in DeFi will expand sharply and on a recovery following the KelpDAO incident.

DeFi protocols have lost roughly $45 billion in total value locked across all chains since January, as exploits and price declines weighed on the sector. CryptoRank data show DeFi TVL has fallen every month this year, sliding from about $115 billion to around $70 billion as of late June. The pullback has been broad-based, with only a small number of major chains posting gains.