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Nearly 1 in 5 crypto spot trades now happen on DEXs as centralized exchange volume collapses

Centralized crypto exchanges lost 31.2% of their spot crypto trading volume in July, falling to $727 billion and marking the lowest monthly total since October 2023. Decentralized exchanges also lost volume, but only 9.82%, settling at $176 billion.　　That gap pushed DEXs to a record 19.5% share of combined spot volume.Venue typeJuly spot volumeMonthly changeWhat the number showsCentralized exchanges$727B-31.2%CEX spot activity collapsed to the weakest level since Oct. 2023Decentralized exchanges$176B-9.82%DEXs also fell, but proved more resilientDEX share of combined spot19.5%Record highShare rose because the denominator shifted, not because DEX volume surged　　Where the CEX collapse concentrated　　BlockBeats July crypto trading-platform ranking shows spot volume on major CEXs fell 35.5% month over month, while perpetual futures volume fell a smaller 19.6%.　　The gap suggests spot was the weakest part of centralized crypto trading, while demand for leveraged trading proved relatively more resilient. The same dataset showed major CEX website traffic rose 3.0% even as app downloads slipped 2.1%, pointing to caution.　　Robinhoods app recorded $18 billion of crypto trading in the second quarter, down 35% year over year, even as equity notional volume on the same platform jumped 85% and options activity rose 50%.　　Coinbase said consumer crypto spot volume fell 38% year over year in the

08-20

Hyperliquid Burns $4.2M in HYPE Tokens as Trading Fees Surge

Hyperliquid, a leading decentralized perpetuals exchange, has burned approximately $4.24 million worth of its native $HYPE token over the past 24 hours. The burn was fueled by roughly $4.4 million in trading fees generated on the platform during the same period, according to data from blockchain analytics firm Onchain Lens.　　How the Hyperliquid Burn Mechanism Works　　Hyperliquid uses a deflationary token model where a portion of the platforms trading fees is used to repurchase and permanently remove $HYPE tokens from circulation. This process reduces the total supply over time, potentially increasing scarcity for remaining holders. The latest burn represents a significant daily amount, reflecting strong trading activity on the exchange.　　The burn mechanism is part of Hyperliquid‘s broader tokenomics, which aims to align the interests of token holders with the platform’s long-term success. By consistently removing tokens from the market, the protocol can counterbalance inflationary pressures and reward long-term participants.　　Market Context and Implications　　The $4.2 million burn comes amid a period of heightened activity in the decentralized finance (DeFi) sector. Hyperliquid has positioned itself as a major player in perpetual futures trading, offering low fees and high-speed execution. The platforms daily trading volume has consistently ranked among the top in the industry, driving substantial

08-20

HYPE Rallies Over 17% as Trump Confirms CFTC Push to Onshore Hyperliquid

$HYPE is up over 17% over the past 24 hours, rising from around $58 to a high of $72. This comes immediately after President Trump stated that the Commodity Futures Trading Commission is working to bring the decentralized exchange into the United States. Trump made the comment on Wednesday at a White House gathering of executives across crypto, tech and finance. “I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion,” he said, referring to CFTC Chairman Michael Selig, and adding that Selig was working very hard on it.　　JUST IN: hyperliquid:native has jumped over 17% to above $68 after President Trump said the CFTC is working to bring Hyperliquid into the United States in a “fully compliant and legal fashion.”　　This matters because the CFTC has already cleared US venues like Coinbase…　　As of this writing, $HYPE is trading above $70 and less than 10% from its all time highs of $76.95 set on June 16. Its worth noting that nothing has been approved thus far and no comment has been made on what an onshore Hyperliquid would actually be, which registrations it would need, or how long that would take.　　The

08-20

Bitcoin breaks out of six-week range, tops $71,000 as $3 billion in shorts get wiped out

Bitcoin $BTC$71,936.32 extended Wednesdays advance, climbing above $71,000 for the first time since June. The largest cryptocurrency has added 3.5% since midnight UTC and 11% over 24 hours, having broken decisively out of the range that had held it since July 8.　　The price move was mechanical rather than narrative-driven. $BTC spent six weeks between roughly $62,000 and $66,900 with volatility grinding down to multi-year lows, a setup that encouraged traders to fade every approach to the range high.　　That left a thick band of short liquidation levels between $65,000 and $67,000. The U.S. Treasurys announcement that it would at least double long-dated buyback operations to $4 billion pulled the 30-year yield back from 5.337%, its highest since 2007, and the resulting bid in risk assets was enough to clear the ceiling.　　Once that fell, $3 billion of shorts were force-bought back into thin resting supply and the spiral carried bitcoin up more than 8% inside an hour.　　President Donald Trumps comments landed hours later into a market that had already made the bulk of its move. His call for Congress to pass the Clarity Act, a suggestion that the U.S. may buy sizable amounts of bitcoin and the reveal that regulators are working

08-20

WikiBit Exchange Exit Risk Ranking Vol.3: The “Penny Stock Exchange” Wrapped in a DAO Disguise — Why Is UZX Being Called a “Pig Butchering Scam” by Users?

Introduction:　　In the first two episodes, we exposed HashKey (the “compliance model student”) and HTX (a platform caught in a regulatory storm). This time, we are looking at an exchange with an even more bizarre storyline — UZX.　　The exchange comes with some extremely flashy labels: “the worlds first DAO-governed exchange,” “managed by a Cayman Islands foundation,” and “affiliated with a Nasdaq-listed company.” Sounds decentralized, sophisticated, and high-end, right？　　But on the other side of the story: a 2.3 rating on Trustpilot, waves of withdrawal complaints, and a parent company whose stock price has collapsed into penny-stock territory.　　How did a “newcomer” exchange founded only in 2023 manage to package itself as a “Nasdaq concept stock”？ Today, we peel away the DAO disguise layer by layer.1. Regulatory Compliance: All Talk About Licenses, But Mostly Just “Stickers”　　The so-called licenses: two MSB registrations, and thats it　　UZX claims on its official website that it has obtained a U.S. MSB (Money Services Business) license and a Canadian MSB registration.　　Sounds impressive？ Not really.　　In the United States, an MSB registration is simply a filing with FinCEN (Financial Crimes Enforcement Network). The threshold is extremely low — it does not require an assessment of the business model, does not verify solvency,

08-20گہرا غوطہ

Arthur Hayes proposes 20% FLOP testnet allocation

Arthur Hayes has proposed allocating roughly 20% of Flop Networks FLOP token supply to testnet participants over 10 years as part of a self-funded decentralized computing network for artificial intelligence agents.　　Arthur Hayes said in an Aug. 19 Substack article that Flop Network would connect AI agents seeking computing power with miners operating internet-connected hardware, using FLOP as the networks payment and reward token.　　The BitMEX co-founder described the proposed system through a fictional creation story, but the article also provided new information about the projects token distribution, economic model, and intended users. Hayes said the token launch would follow a fair-start model, with no presale needed because he had funded the development team himself.　　Under the planned distribution, people who contribute to the Flop Network testnet would collectively receive about one-fifth of the supply by the end of a 10-year period. Hayes did not disclose the total number of FLOP tokens, the rate at which the testnet allocation would be released, or the activities that would determine each participants share.　　Flop Network would sell compute through FLOP　　Flop Network‘s proposed market would price AI workloads according to the number of floating-point operations, or FLOPs, required within a defined period. Miners would process requests using

08-20

Trump Crypto Summit Details: Attendees, Clarity Act, Hyperliquid and More

US President Donald Trump just hosted a high-stakes crypto summit at the White House, during which he once again called on the Senate to promptly pass the CLARITY Act so that America may maintain its financial dominance.　　CLARITY Act and crypto summit attendance　　Notably, the event saw attendance from crypto and traditional finance executives in addition to federal regulators.　　Crypto invitees included Coinbase CEO Brian Armstrong, Robinhood Markets CEO Vlad Tenev, Ripple CEO Brad Garlinghouse, Gemini Founders the Winklevoss twins, Chainlink Co-founder Sergey Nazarov and Kraken co-CEO Arjun Sethi.　　Traditional finance participants were Chairman of the New York Stock Exchange (NYSE) Jeffrey Sprecher, in addition to representatives from Nasdaq, CME Group and the DTCC.　　Regulators present were Chairman of the US Securities and Exchange Commission (SEC) Paul Atkins, and Chairman of the Commodity Futures Trading Commission (CFTC) Mike Selig. Also present was the White House Crypto Advisor Patrick Witt.　　Key takeaways　　Regarding the CLARITY Act, Armstrong warned about pushback from the banks, saying they “dont want the competition.”　　Aside from that, Trump and the regulators touted the new innovative-friendly regulation initiatives and how they starkly contrast to the strict rules of the previous regime. Here, they noted 583 IPOs since Trump‘s inauguration, raising a total of $208 billion

08-20

240 Million XRP Pulled From Major Exchanges Since Early Summer: Why It Matters

$XRPs struggle near $1 continues even as its peers display modest gains this week. The crypto asset is down by almost 10% over the past month.　　Despite the weakness, much more $XRP is being withdrawn than deposited across major platforms.　　Reserves Slide　　According to the latest analysis shared by CryptoQuant, $XRP reserves across Upbit, Binance, and Bithumb have fallen by roughly 240 million from their late-May and early-June levels, as of August 19. South Korean giant Upbit held 6.40 billion $XRP, down from 6.51 billion on May 30, which is a decline of about 110 million, or 1.7%.　　The figures for Bithumb fell to 1.82 billion from 1.85 billion on June 2, a decrease of roughly 30 million, or 1.6%. Meanwhile, Binance recorded the largest percentage decline, with its reserves for the token dropping to 2.62 billion from 2.72 billion over the same period, which translates to a reduction of approximately 100 million $XRP, or 3.7%.　　Combined reserves across the three exchanges decreased from about 11.08 billion to 10.84 billion, representing a decline of roughly 2.2%. Despite the overall reduction, Upbit remains the largest holder of the crypto asset among the three exchanges. In fact, Upbit and Bithumb together hold about 8.22 billion $XRP and

08-20

Coinbase's Base Is Betting Big on AI Agents With $100K Startup Accelerator

In briefThe Base accelerator plans to select 10 startups for its eight-week Batches 004 accelerator.Each selected team will receive a $100,000 investment from the Base Ecosystem Fund.The program is targeting startups building AI agents, trading, payments, and financing products.　　The team behind Base, Coinbases Ethereum layer-2 network, is narrowing its startup accelerator to 10 teams for its latest cohort, with each selected company receiving a $100,000 investment upfront, Coinbase announced on Wednesday.　　Applications for Base Batches 004 are open through September 9, Coinbase said. The eight-week virtual program will conclude with a Demo Day in New York in November.　　Myriad: Ethereum next price move？ Click to make your prediction.　　“Weve learned that the best results come from going deeper with a smaller, more focused group of exceptional builders,” Daniel Bronheim, Base Ecosystem Fund Lead, told Decrypt. “For Batches 004, we are shifting away from broad cohorts and zeroing in on high-signal teams, then offering hands-on support and deep Base ecosystem integration.”　　The program is seeking pre-seed startups focused on trading, payments, financing, and AI agents, including products that use stablecoins for agent-driven shopping, trading, and payments, as well as infrastructure for lending, e-commerce, and decentralized AI.　　“Blockchains are the native financial rails for AI, and agents

08-20

Binance, Upbit, Coinbase See Surging XRP Outflows, as Investors Pull $2B From Futures Market

$XRP outflows have dominated major exchanges such as Binance, Upbit, and Coinbase, despite the persistent bearish pressure.　　$XRP continues to struggle, trading more than 72% below its all-time high of $3.66. However, despite the downtrend, investors have continued moving $XRP off exchanges. This could reduce the amount of $XRP available for immediate selling and, in turn, ease some of the selling pressure.　　Binance, Upbit and Coinbase See $XRP Outflows　　Recent CoinGlass data confirms this trend. Over the past seven days, all major exchanges except Bitstamp and Gemini recorded net $XRP outflows.　　Binance led the withdrawals, with investors moving $32.32 million worth of $XRP off the exchange. Upbit followed with $23.94 million, while Coinbase recorded $8.12 million in outflows. Bybit ranked next with $6.91 million in withdrawals.　　$XRP Exchange Outflows | Source: Coinglass　　Essentially, Binance, Upbit, and Coinbase alone accounted for $63.17 million in $XRP outflows during the week.　　Other major exchanges also recorded withdrawals. Gate saw $1.25 million leave its platform, while OKX and Kraken recorded outflows of $1.20 million and $1.01 million, respectively.　　Bitstamp and Gemini were the only major exchanges to record inflows, but their figures remained small at $1.21 million and $230,000, respectively.　　$XRP Futures Flows Turn Negative　　The $XRP futures market has shown a different trend

08-20

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