According to Odaily Planet Daily, the number of new cryptocurrency listings on South Korean exchanges slowed significantly in the first half of this year, while the number of delisted coins with low liquidity and problematic tokens increased. EToday's statistics from five major exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—show that the net increase in new trading support (excluding terminations) in the first half of the year was 49, a decrease of approximately 74% compared to 191 in the same period last year. During the same period, the number of new trading supports decreased by 44% year-on-year, while the number of terminated trading supports increased by 258% year-on-year. The report states that with declining trading volumes and pressure on fee revenue, the focus of competition among South Korean exchanges is shifting from expanding listings to liquidity management, token vetting, and institutionalized regulatory responses. (EToday)

According to Onchain Lens monitoring, a whale trader experienced four consecutive short BTC positions liquidated within the past 24 hours, totaling 97.99 BTC, worth $6.18 million, resulting in a total loss of $298,750. The trader still holds a 40x short position of 67.98 BTC, worth $4.26 million, currently showing a floating loss of $179,220. The liquidation price is only slightly higher than the current BTC price of $902.

Odaily Planet Daily reports that Kraken has begun allowing eligible users to use a portion of tokenized stocks and ETFs as collateral for futures and margin trading, enabling them to open leveraged positions without selling existing holdings. The initial rollout supports 10 tokenized stocks and ETFs, including Apple, Nvidia, Tesla, Strategy, SPDR S&P 500 ETF, and Invesco QQQ Trust. This feature is currently only available to eligible users outside the United States. Kraken has also set collateral limits for different assets, with a maximum collateral value of $1 million for large-cap ETFs, $250,000 for most individual stocks, and $100,000 for tokenized gold and Circle shares. The platform states that collateral limits and discount rates will be reviewed regularly and may be adjusted based on market conditions. (Cointelegraph)

Despite the continued record highs in the US stock market, Bitcoin's performance this year has been relatively weak. Asset management firms Hashdex and Charles Schwab both believe this divergence will not last long. Hashdex Chief Investment Officer Samir Kerbage stated that current market funds are flowing more towards themes such as AI infrastructure, IPOs, and interest rate trading, rather than digital assets. This reflects a change in asset allocation, not a deterioration in the fundamentals of the crypto industry. He pointed out that stablecoin trading volume in the first half of this year has already exceeded the total volume for 2025, RWA's scale has grown by over 60% this year, and crypto network trading activity has also reached a record high. The divergence between on-chain fundamentals and market valuations has reached a historical high. Jim Ferraioli, Head of Digital Asset Research at Charles Schwab, stated that Bitcoin's current trend still conforms to historical cycles following halvings. Currently, the production cost for inefficient miners is approximately $95,000, while the average market holding cost is approximately $80,000. During the price rebound, there may still be some selling pressure from those looking to break even. He believes that as the Bitcoin market matures, the volatility of each cycle may decrease in the future.

In the past hour, total liquidations across the network reached $12.21 million, with $11.60 million from long positions, with $613,115.73 from short positions. BTC liquidation $920,203.25, ETH liquidation $3.59 million.