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Wall Street investment bank TD Cowen has lowered the target price for Bitcoin treasury company Nakamoto Inc. (NASDAQ: NAKA), reducing the split-adjusted target price from $40 to $17, a decrease of 58%, but still maintaining a "Buy" rating. TD Cowen analysts stated that this adjustment is mainly due to the pressure on Nakamoto's highly leveraged capital structure from the decline in Bitcoin prices.Although the new target price still implies about a 275% upside from the current stock price of $4.65, the company's stock is highly sensitive to fluctuations in Bitcoin prices. TD Cowen expects Bitcoin to rebound to $100,000 by the end of 2026, which is about 25% lower than the historical high of $126,000 set last October. At the same time, the firm anticipates that Nakamoto will suspend further Bitcoin purchases before 2027.Analysts pointed out that Nakamoto's core value still comes from its Bitcoin assets, with the company currently holding 4,467 BTC, valued at approximately $290 million, ranking 22nd among publicly listed companies in terms of Bitcoin holdings. However, the company's debt and preferred stock financing structure have also compressed the asset value available to common stockholders. Recently, Nakamoto has completed several financial adjustments, including repaying approximately $45 million in debt, extending the principal of $105 million to June 2027, reducing financing costs, and approving a $25 million stock buyback plan. Additionally, the company has closed its previously operated medical clinic business and will focus on Bitcoin media, asset management, and consulting services in the future. Data shows that NAKA's stock price has fallen over 71% this year, while Bitcoin has declined about 26% during the same period. Market attention is shifting from "continuously purchasing BTC" to the asset-liability structure and financing capabilities of Bitcoin treasury companies.

According to on-chain analyst Yu Jin (@EmberCN), half an hour ago a giant whale bought 18,030 ETH on-chain for 35.85 million DAI, at an average price of about 1,988 USD.

The 51st repurchase and destruction of SUN tokens has been successfully completed. Since its launch in December 2021, the total amount destroyed has exceeded 678 million tokens (678,547,188.32 tokens), continuously demonstrating the deflationary effect. Among them, the three major business lines of SunSwap V2, SunPump, and SunX contributed approximately 382 million tokens, 286 million tokens, and 10.7 million tokens respectively, providing solid support for the long-term destruction mechanism through diversified revenue sources.The number of tokens destroyed this period is 9,025,027.40 tokens, and all tokens have been transferred to the black hole address for permanent storage. This mechanism continues to reduce the circulating supply in the market, further strengthening the scarcity attribute of SUN tokens and laying a solid foundation for the long-term healthy development of the token economic model. The SUN team will unwaveringly promote the repurchase and destruction strategy, continuously enhancing ecological value and giving back to the community for their long-standing trust and support.

Meanwhile, Dogecoin (DOGE) only rose about 6% during the same period, while other dog-themed tokens saw increases of around 10%, indicating that funds were mainly concentrated in SHIB.In the derivatives market, during this round of increases, approximately 2,300 traders' SHIB positions and 1,000 SHIB positions were liquidated, with a total liquidation amount of about 6 million dollars, of which short positions accounted for about 5 million dollars. However, analysts believe that the short position liquidations were more a result of the price increase rather than the main driving factor of this market trend.

Cryptocurrency payment infrastructure company Moonpay has supported payments from the U.S. card network Discover, allowing Discover Network cardholders to buy and sell cryptocurrencies through the Moonpay platform. Discover Network becomes the third major card brand supported by Moonpay in the U.S., alongside Visa and Mastercard. Moonpay stated that this support covers over 500 of its business partners, including wallets, exchanges, and applications. Moonpay also supports Apple Pay, Google Pay, PayPal, Venmo, bank transfers, and regional payment channels. Founded in 2019, Moonpay serves over 30 million customers across 180 countries and holds a BitLicense from New York, a limited purpose trust license from New York, multi-state money transmission licenses in the U.S., and MiCA authorization in the European Union.

The decentralized AI infrastructure project DeAgentAI, leading in the SUI and BNB ecosystems, announced the completion of a $5 million AIA token buyback plan. It is reported that the first batch of 1 million AIA tokens has been executed early, and the second batch of 10 million AIA tokens has been completed, with a total of 11 million tokens destroyed, accounting for 23.1% of the total repurchased amount, all sent to a black hole address for permanent destruction.Notably, DeAgentAI announced that the quarterly destruction mechanism is officially online, and the AIA destruction plan will continue to be executed quarterly, marking the normalization of the deflationary mechanism. The source of the buyback funds is the project protocol revenue and its own AI trading model profits, unrelated to external financing or token issuance.On-chain destruction record: 8G2MPM3sK7zEqax715HqLqAPzTvw6JV5yDUHepZ1Nycr

On July 23, WEEX announced that the platform has launched the "WXT Gold Rush Season." During the event period (7/21 18:00 - 7/28 17:59:59 UTC+8), new users who make their first spot trading purchase of WXT can receive 100 WXT + 100 USDT contract bonus; all users whose net purchase of WXT reaches specified tiers can participate in sharing the prize pool of 60,000 WXT / 100,000 WXT / 200,000 WXT / 300,000 WXT; new users who participate in WXT Staking for the first time and reach the specified staking amount can receive a 5% or 10% APR interest coupon; existing users who increase their staking amount to reach the specified tier can receive a 5% or 10% APR interest coupon.

CryptoQuant analyst Darkfost stated that the fund flow of spot Bitcoin ETFs over the past 30 days has seen a net outflow of approximately $2.1 billion, and the new demand from Strategy and other Bitcoin treasury companies has been close to zero for several weeks.He estimates that the monthly demand from treasury companies reached about $6.6 billion in August 2025, when BTC was around $115,000, while the current BTC is about $65,000, and the related demand has basically disappeared.

According to Lookonchain monitoring, Arthur Hayes (@CryptoHayes) bought 644.34 ETH 8 hours ago, worth 1.25 million dollars.In the past 8 days, he has accumulated a total of 3270 ETH, worth 6.27 million dollars, with an average purchase price of about 1917 dollars.

Tesla's Bitcoin reserves remain unchanged at 11,509 BTC, continuing a status of not buying or selling the cryptocurrency for nearly four years, and accounting for a post-tax impairment loss of $112 million on its digital asset holdings.Bitcoin fell 14% in the second quarter from about $83,000 to $58,000, then rebounded to around $65,840. Tesla's revenue in the second quarter was $28.2 billion, exceeding expectations; adjusted earnings per share were $0.33, below expectations.

On-chain data analyst Murphy stated that this cycle is significantly different from the past due to the influx of traditional institutional funds brought in by the BTC spot ETF. He pointed out that the net flow of the ETF essentially records the subscription and redemption results of authorized participants (AP) in the primary market. It will only translate into net inflows or outflows in the data when the selling pressure in the secondary market continues to push the ETF price away from its net asset value and exceeds the arbitrage cost line.Murphy analyzed the data from glassnode and noted that from January to February, the market showed "high trading volume + slight net outflow," indicating that although there was obvious panic selling at that time, there was still a large amount of buying support. In contrast, from May to July, the market exhibited "low trading volume + significant net outflow." The more core signal was not a significant increase in selling pressure, but rather the absence of marginal buying, leading to the ETF consistently trading at a discount and resulting in AP redemptions.He believes that this stage is more likely to reflect a second round of "surrender" at the institutional level, which typically belongs to the tail-end clearing pattern of the market, and judges that this may provide new layout opportunities for retail investors, although the duration cannot be clearly determined by the current data.

According to Onchain Lens monitoring, a Hyperliquid whale deposited 3.71 million USDC and placed an order to buy 30 BTC (2.68 million USD) in the price range of 65,945 to 66,214 USD.It currently holds a long position of 8.67 million USD with no short position: CL 14x long position unrealized profit of 749,700 USD, BRENTOIL 11x long position unrealized profit of 359,400 USD.

The core project of the TRON ecosystem, JustLend DAO, has completed four consecutive rounds of efficient buyback and burn plans. Over 17% of the total supply of $JST has been permanently removed from circulation, marking a milestone in the deflationary process. All funds for this round were raised in compliance with the established mechanisms approved by the community and were fully transparent on-chain, with burn data verifiable at any time.As the cornerstone of the TRON DeFi ecosystem, JustLend DAO will continue to optimize the buyback and burn mechanism, advancing the continuous deflation of the token economic model as the market evolves, and building a more solid long-term value expectation for JST holders.

Well-known crypto trader Doctor Profit stated that he has closed all cryptocurrency short positions, including a Bitcoin short position established in the $115,000 to $125,000 range, another Bitcoin short position established in the $79,000 to $82,000 range, and over 100 altcoin short positions opened in the past few months, claiming that these positions have all achieved significant profits.He also mentioned that he has re-entered Bitcoin spot at $64,000, marking his first long allocation since September 2025. His plan is to invest 5% of the planned funds daily for spot purchases when Bitcoin is in the $54,000 to $64,000 range, continuing for a maximum of 20 days; if the price approaches $54,000, he will increase the buying intensity. Doctor Profit believes that there is a clear "herd behavior" in the current market: investors who were previously bullish at high levels up to $150,000 are now generally waiting for Bitcoin to drop to $40,000 to $50,000, viewing September or October as the bottom of the four-year cycle. When a large number of investors are waiting for the same price and time point, the market may not operate according to this expectation, which is why he chose to build positions in advance, judging that this round of bottom may appear earlier than the market generally expects.He also listed regulatory clarity, asset tokenization infrastructure, and institutional adoption progress as structural reasons for the shift to buying, and retracted his previous prediction that Bitcoin would drop to $40,000 to $50,000. However, he still retains all short positions in the S&P 500 index, believing that the crypto market has undergone significant repricing, while U.S. stock valuations remain relatively high.

According to Onchain Lens monitoring, 5bro.eth (0x58bro) deposited 1.5 million USDC and placed a limit order to buy 2000 ETH, approximately 3.73 million dollars.If executed, their position will decrease from a short position of 6500 ETH to a short position of 4500 ETH. The address has a lifetime profit of 34.7 million dollars. The address is 0x418aa6bf98a2b2bc93779f810330d88cde488888.

According to Decrypt, the decentralized hedge fund Numerai announced the completion of its third strategic buyback of Numeraire (NMR), purchasing $1.2 million worth of NMR from the open market, bringing the total buyback amount to $3.2 million over the past year. Numerai stated that this buyback aims to continuously support its machine learning competition ecosystem based on the NMR staking mechanism.Data scientists submit models by staking NMR, with rewards for outstanding performance and penalties in the form of lost staked tokens for poor performance. This mechanism is used to optimize the Stake-Weighted Meta Model that drives the Numerai hedge fund.Official data shows that since the first buyback launched in July 2025, the number of active accounts on the platform has more than doubled, and the assets under management (AUM) have increased from approximately $560 million at the end of 2025 to about $700 million currently.As of this buyback, the Numerai treasury still holds approximately 3.1 million NMR. It is reported that this buyback was completed before the announcement was made, with transactions executed in batches on the open market through Coinbase Institutional to minimize the impact on market prices.

According to on-chain analyst @ai_9684xtpa, the whale trader "sets 10 big targets first" has opened a long position of 69.4 BTC, worth approximately 4.43 million USD, with an opening price of 63,827.06 USD.Data shows that since June 25, Jason's three BTC long position trades have each exceeded 200 million USD, achieving a total profit of approximately 3.94 million USD.

Venice AI announced an update to its tokenomics, with the main updates being the following two items:New programmatic burning: From now on, for every purchase of $100 in API credit points, $5 will be used to buy and permanently burn VVV on the open market. DIEM supply target raised for the first time: gradually increased from 38,000 to 40,000 (an increase of 2,000), to be implemented in phases, with the highest target expected to be achieved by September 14.

According to the official announcement, Binance has announced that it will gradually launch Aerodrome (AERO) to SimpleEarn flexible products, the "Buy Crypto" page, Binance Instant Exchange, Binance Leverage (cross margin and isolated margin), and VIP lending starting from July 17, 2026, at 16:00 (UTC). Users can instantly purchase AERO through VISA, MasterCard, and other methods, and use AERO in the instant exchange, leverage, and lending features. Related services will be available within one hour after the AERO spot launch.