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CryptoInsights

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Insights

Tokenised infrastructure pushes Pharos deeper into RWA markets

  • Pharos Network has launched PGNGI+, an on‑chain infrastructure fund product linked to Partners Group, extending its RealFi ecosystem beyond basic DeFi into tokenised infrastructure income rights.
  • Pharos currently holds about US$127.75 million in active RWA value and US$6.79 million in DeFi TVL, which is materially smaller than leading RWA platforms such as Ondo ~US$3.44b TVL, Securitize ~US$4.96b, Maple ~US$2.23b and Centrifuge ~US$1.63b.
  • The broader RWA sector is fragmenting by niche - tokenised funds and Treasuries Ondo, Centrifuge, institutional credit, and regulated issuance across many chains - with competition centred on institutional access, compliance frameworks and on‑chain liquidity.
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Insights

Ethereum’s upgrade race puts rival chains under scrutiny

  • Ethereum is evaluating 66 proposals for its upcoming Hegotá upgrade, with FOCIL already chosen as the consensus-layer headliner and other ideas targeting privacy, account abstraction and censorship resistance.
  • Ethereum still dominates DeFi with about US$41.35 billion in TVL, well ahead of Solana ~US$4.82b, BNB Chain ~US$4.87b, Avalanche ~US$0.43b and Cardano ~US$0.06b.
  • Each rival chain is also upgrading—Solana on speed and client diversity, BNB Chain via the Pasteur hard fork, Avalanche with Helicon execution/validator changes, and Cardano through on-chain governed hard forks - creating different trade-offs in speed, security, governance and scalability.
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Insights

ETF uncertainty is reshaping the next crypto approval race

  • Grayscale has withdrawn three crypto ETF applications, putting the spotlight back on the next wave of token approvals.
  • The strongest comparable assets are Solana, XRP, Litecoin, and Ethereum, which remain central to ETF and institutional access discussions.
  • The biggest challenge remains regulatory approval standards and how the US SEC evaluates different crypto assets.
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The stablecoin cracks exposing deeper DeFi reserve risks

  • Neutrl halted redemptions for its US$486 million NUSD stablecoin after reserve concerns emerged around its exposure to Resolv.
  • The situation has drawn attention to reserve transparency, collateral structures, and liquidity risks across decentralised stablecoin projects.
  • Reserve quality and redemption access remain the key factors separating more resilient stablecoin models from structurally weaker ones.
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Insights

Bitcoin’s mining rebound puts rival proof-of-work networks in focus

  • Bitcoin miners generated US$875.35 million in July, up US$38.93 million from June’s US$836.41 million.
  • Bitcoin hash price rose from US$29.01 to US$31.59 per PH/s over 30 days, improving revenue from computing power.
  • Higher mining difficulty, BIP-110 signalling and competition for computing power remain key pressures across proof-of-work networks.
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Insights

Samsung’s stablecoin push puts five digital dollars in focus

  • Samsung Electronics plans native stablecoin support through Samsung Wallet as its Galaxy AI device base targets 800 million.
  • USD Coin (CRYPTO:USDC) had US$72.3 billion circulating on 27 July, while PayPal USD (CRYPTO:PYUSD) recently exceeded US$2.6 billion.
  • Samsung has not confirmed the stablecoin, blockchain, custody model, eligible markets or launch date, leaving the final distribution model unclear.
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Insights

BlackRock’s reserve push redraws the tokenised Treasury race

  • BlackRock (NYSE:BLK) launched two tokenised money market products for regulated US stablecoin reserve management.
  • Its existing BUIDL fund holds more than US$2.6 billion, while USDC circulation stood at US$72.3 billion on 27 July.
  • Regulatory eligibility, blockchain interoperability and institutional access remain key barriers as tokenised Treasury products expand.
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Insights

AI assistants enter crypto as wallet access expands

  • Anthropic's Claude AI has gained access to Google Wallet for cryptocurrency, allowing the assistant to interact with supported blockchain wallet data through Google's infrastructure.
  • The update highlights growing links between artificial intelligence, digital wallets and blockchain applications, with wallet providers expanding support for programmable financial services.
  • Privacy protections, wallet security and user permission controls remain the main challenges as AI gains greater access to digital asset tools.
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Banking pressure tests Washington's crypto rulebook

  • US banking associations asked Congress to amend the CLARITY Act before it advances, focusing on clearer rules for digital asset yield products.
  • The proposed changes aim to align crypto regulation with existing banking supervision as banks expand digital asset services.
  • Regulatory uncertainty remains a key barrier for banks, crypto firms and decentralised finance platforms operating in the US.
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