Crypto venture capital firm 1kx analyzed that in the second quarter, on chain protocol fees decreased by 33% year-on-year, with DEX fees decreasing by $625 million, blockchain and MEV fees decreasing by 40% to $362 million, and Launchpad fees decreasing by 57%. Meteora, Raydium, and PancakeSwap led the decline in DEX fees, while Pump.fun accounted for nearly half of Launchpad fees. Perpetual contracts and forecasted market fees increased by 22% year-on-year, led by edgeX and Hyperliquid, with Polymarket fees approaching $100 million per quarter.

According to Onchain Lens monitoring, an entity pledged 1.49 million HYPEs worth approximately $88.2 million through 8 wallets, with a single pledged quantity ranging from 115700 to 390400. On chain data shows that all wallets have been held since extracting HYPE from Bybit about 9 months ago.

According to CriptoNoticias, the Argentine government plans to pass the Deregulation Act, allowing mutual investment funds (FCIs) to invest in Bitcoin and cryptocurrencies, and allowing virtual assets to serve as collateral. The draft was drafted by Economy Minister Federico Sturzenegger and will be submitted to Congress after being signed by President Javier Milei. The draft allows FCI to allocate virtual assets and create qualified investor funds. The Argentine National Securities Commission is responsible for reviewing the legality and technical solvency of FCI, while the central bank regulates the registration or transfer infrastructure of cryptocurrencies and tokenized assets. The draft also allows securities to be issued, stored, and traded through encrypted networks.

AMD has released new AI chips, microprocessors, upgraded AI accelerators, and server designs, claiming that the performance of the new AI chips exceeds that of Nvidia and targeting the $2 trillion market. （Coin Bureau）

According to data from Alternative. me, the cryptocurrency panic and greed index dropped to 28 today, compared to 31 yesterday, indicating a state of panic in the market.