According to BlockBeats, on July 22, David Hoffman, co-founder of Bankless, stated that during the second phase of the US-Iran conflict, oil prices are likely to fluctuate between $75 and $95 per barrel, and will not rise to the high levels seen during the first phase of the conflict. However, even if oil prices remain within this range, it will still be detrimental to global inflation.

According to BlockBeats, on July 22, Eric Balchunas, senior ETF analyst at Bloomberg, stated that Bitcoin has risen approximately 8% since the 250th anniversary of US independence, outperforming most assets. Meanwhile, Bitcoin spot ETFs have seen a rebound in inflows, with net inflows of approximately $750 million over the past week.

Balchunas stated that it's still difficult to fully believe this rally has stabilized, but the rebound after Bitcoin's previous pullback is not unexpected, and its future trajectory remains to be seen. The continuous selling by early Bitcoin holders over the past nine months has been putting downward pressure on prices; if these holders were to stop selling, Bitcoin could rebound.

According to BlockBeats, on July 22nd, a16z crypto reported that as of the end of June, the total market capitalization of tokenized stocks reached approximately $1.7 billion, more than five times the $329 million a year ago, making it one of the fastest-growing tokenized asset classes. More than half of the current market capitalization comes from assets that were not yet on-chain a year ago, indicating that the growth is primarily driven by new issuance, rather than solely by rising underlying stock prices.

The market structure has also changed significantly. The market capitalization share of crypto-related products has decreased from 79% a year ago to 21%; the "Other" category, consisting of hundreds of smaller assets, has risen to 35%. Large-cap tech stocks have increased from 0.6% to 10.6%, and ETFs and index products have increased from 4.5% to 17.3%. AI and chip-related tokenized stocks have seen the fastest growth, with their market capitalization share rising from 0.3% in June 2025 to 15.5%.

On-chain activity also increased. The monthly transaction volume of tokenized stocks reached $9.22 billion in June, more than 170 times the $53 million in the same period last year. Related transactions included on-chain buying and selling, wallet-to-wallet transfers, and depositing collateral into DeFi protocols.

Institutional infrastructure is being rolled out at an accelerated pace. DTCC has completed its first tokenized US Treasury and stock production environment transactions on Canton Network; Robinhood has launched its own blockchain; the NYSE's parent company has formed a joint venture with OKX, planning to offer tokenized NYSE stocks upon approval; Coinbase and Binance have also launched or plan to launch tokenized US stock services for non-US users.