- Bitcoin holds near $63,801 as total crypto market cap rises to $2.27 trillion.
- Crypto industry H1 revenue falls 23% year-over-year to $47 billion, 1kx finds.
- Kalshi is in talks for a $750M round that would value it at $40 billion.
Bitcoin traded near $63,801, roughly flat over the past 24 hours and down 0.9% for the week, while Ethereum held around $1,891, up slightly on the day and down 0.8% weekly. XRP traded near $1.01, down 3.5% for the week, and Solana climbed to $76.35, up 4.4% weekly. BNB gained 2.9% for the week to $609.10, while Hyperliquid’s HYPE token jumped 4.0% to $58.17.
Total crypto market capitalization stood at $2.27 trillion, up 0.3% over the past day.
Trending Searches
XMAQUINA topped trending searches with an 86.9% surge, followed by Ether.fi, up 55.3%, and Pump.fun, up 26.1%. Among top gainers, Akedo led with a 350.9% jump, followed by Acurast at 31.5% and COTI at 30.7%, reflecting continued heavy speculative rotation into smaller tokens.
Crypto Industry Revenue Contracts Sharply in H1
1kx’s first-half 2026 report found total crypto industry revenue fell 23% year-over-year to $47 billion, driven by weaker finance-related income (CEX, derivatives, and market maker revenue down $5.2 billion; on-chain DeFi down $1.8 billion) and a continued slide in blockchain-native revenue, with staking and mining rewards falling $6.2 billion and transaction fees roughly halving.
Blockchain revenue now accounts for just 25% of the total, a record low. Bright spots included stablecoin and RWA issuer revenue, up $700 million, and prediction market fees, which grew roughly tenfold on an estimated $300 million increase.
Kalshi Nears Another Valuation Jump
Sources said Kalshi is in advanced talks with Sequoia Capital and Wellington Management for a $750 million round that would value the platform at $40 billion, just three months after raising $1 billion at a $22 billion valuation in May. Wellington, which manages $1.3 trillion in client assets, would be making its first investment in the company. Rival Polymarket recently secured $600 million from Intercontinental Exchange at a $15 billion valuation.
Anthropic Valuation Expectations Soar
A report circulating among investors suggested Anthropic’s annualized revenue could reach $100 billion to $120 billion by the end of 2026, more than 10 times its early-2026 run rate, with one investor suggesting a potential valuation near $3 trillion at a 30x revenue multiple if roughly 800% annual growth continues.
Separately, Databricks closed a $5 billion strategic round led by Coatue at a $190 million valuation, with CEO Ali Ghodsi disclosing an annualized revenue run rate exceeding $7 billion, up more than 80% year-over-year.
Crypto Treasury and Exchange Earnings
Crypto exchange Bullish posted a $280 million net loss in Q2 on a trading volume of $32.6 billion, down from $58.6 billion a year earlier. Gemini’s net loss narrowed 19% year-over-year to $107.7 million despite revenue growing 37% to $45.5 million, though platform assets fell from $18.2 billion to $8.4 billion as Bitcoin’s price dropped.
Ethereum treasury firm Bit Digital added 8,568 ETH in Q2 while posting a $107.2 million net loss, and Bitcoin treasury company Nakamoto reported a $133 million net loss with $48.7 million in digital asset valuation losses on its 4,467 BTC holding.
Tether Completes First Full Independent Audit
Tether announced KPMG US issued an “unqualified opinion,” its cleanest possible audit rating, on Tether International’s 2025 financial statements, marking the company’s first full independent financial audit after announcing the engagement in March.
Market Outlook Mixed as Bitcoin Consolidates
Analyst Garrett Jin said Bitcoin remains relatively weak, oscillating around $63,600 with support at $62,500 and resistance in the $65,000-$70,000 range, though he believes a bottoming structure beginning near $57,700 in July is still forming.
Separately, Equation News founder Vida disclosed trimming a third of his Bitcoin position near $63,000, citing AI’s dominance of market narrative and expecting to rebuy at $45,000-$55,000 within one to three years.
Related: Baltimore Sues Kalshi and Polymarket Over Sports Contracts
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