Edgen AI operates independently of, and is not controlled by Aspen Digital Financial Limited.
Bitcoin tops $65,000 as Polymarket Fed hold odds hit 93%
Edgen Crypto·Jul 21 2026, 05:14Share to
Share to
Copy link
[1] Polymarket odds for July Fed hold jump to 93% after Bitcoin tops $65K (https://blockchain.news/news/polymarket-odds- ...)[2] Stock market today: Nasdaq clings to a gain after Trump comments; AMD rises (live coverage) (https://www.msn.com/en-us/money/top-stocks/st ...)[3] S&P 500 Index (https://www.marketwatch.com/investing/index/s ...)[4] Polymarket traders cut Clarity Act passage odds to record low as Senate delay drags on (https://www.coindesk.com/markets/2026/07/17/p ...)[5] Prediction Markets Are Betting Against Rocket Lab: Here's What the Odds Say (https://247wallst.com/investing/2026/07/17/pr ...)
Related News
Jul 21 2026, 12:58
Korbit sells 15 BTC and 60 ETH as Korea exchange volumes hit 2-year low
South Korean crypto exchange Korbit sold 15 bitcoin and 60 ether from its corporate reserves to cover operating costs as trading volumes across the country's five major platforms fell to a two-year low. "The prolonged volume downturn has made it unsustainable for smaller exchanges to operate without tapping reserves," a person familiar with Korbit's operations said, declining to be named because the matter is private. Korbit, Upbit, Bithumb, Coinone and Gopax all recorded their lowest monthly trading volumes since at least mid-2024, according to CoinGecko data. Upbit, the market leader, saw weekly XRP trading volume drop 51% to 258 million tokens by mid-July from 530 million in late June, on-chain data from CryptoOnchain shows. The Kimchi premium — a price gap that historically signaled strong Korean retail demand — has largely disappeared across major tokens, with XRP on Upbit trading about 1.1% below its global fair value. The volume collapse comes as South Korea's Supreme Court prepares to implement new civil execution rules in October 2026 that will allow judges to directly freeze debtor wallets on exchanges and block asset transfers, according to a court filing. The rules would make exchange-held crypto easier to seize than self-custodied assets, raising compliance pressure on platforms already struggling with thinning revenue. Korbit's decision to liquidate reserves — rather than raise fresh capital or cut costs — signals the severity of the revenue shortfall at smaller Korean platforms. The exchange sold into a market where bitcoin traded at $66,504 as of 07:00 UTC Monday, up 2.96% in 24 hours, while ether changed hands at $1,941.22, up 3.72%, according to CoinGecko. The broader crypto rally, fueled by renewed hopes for the CLARITY Act in the US, has done little to revive Korean exchange volumes. The divergence suggests local retail traders remain on the sidelines even as global prices rise, a dynamic that historically preceded deeper liquidity crunches at smaller platforms. South Korea's five exchanges collectively handle a disproportionate share of global altcoin trading, and the sustained volume drought raises the risk of further operational strain. If volumes fail to recover, smaller exchanges may face a choice between additional reserve liquidation, cost-cutting or consolidation — none of which bode well for the market's retail-driven structure. This article is for informational purposes only and does not constitute investment advice.
Jul 21 2026, 12:55
Aster Chain mainnet launches with 450M staked and 112 RWA markets
Aster Chain activated its mainnet with 450 million ASTER tokens staked and 112 real-world asset markets live, the privacy-focused Layer 1 said July 21. The project, which began as a decentralized perpetual futures exchange on BNB Chain, has backing from YZi Labs, the family office of Binance founder Changpeng Zhao. "The transition to a sovereign chain gives Aster control over its own consensus rules and fee structures," the project said in a statement. The network uses zero-knowledge proofs to verify transactions without exposing trade details, a feature aimed at institutional users. Block times of 50 milliseconds position it among the fastest settlement layers in crypto, compared with roughly 12 seconds on Ethereum and 400 milliseconds on Solana. Public staking is now live, allowing any token holder to participate in securing the network. The 112 RWA markets include tokenized stock perpetuals, letting traders gain exposure to equity prices without holding shares. The move puts Aster in direct competition with dYdX, which migrated to its own Cosmos-based chain, and Hyperliquid, which built a custom Layer 1 for perpetuals. Aster's roadmap includes permissionless features, governance upgrades, and developer tools called Aster Code. The 450 million ASTER tokens staked at genesis represent a substantial portion of the circulating supply, though the project has not disclosed the exact percentage. The tokens secure the network through proof-of-stake consensus, with validators processing transactions on the new chain. Aster's privacy angle is particularly relevant as traditional finance institutions exploring on-chain trading have flagged transaction privacy as a requirement. ZK proofs enable verifiable transactions without public exposure of trade counterparties or amounts, according to the project's technical documentation. The competitive field for on-chain perpetuals has grown more crowded. dYdX migrated to its own Cosmos application chain in 2023, while Hyperliquid launched its custom Layer 1 in 2024. Aster enters the arena with a differentiated bet on zero-knowledge privacy and tokenized real-world assets, backed by one of the most prominent names in crypto venture capital. This article is for informational purposes only and does not constitute investment advice.
Jul 21 2026, 12:41
Tether's USDT market cap drops $5.4B as stablecoin supply contracts
Tether's USDT market capitalization fell $5.4 billion to $184 billion over 60 days, the largest contraction for the world's biggest stablecoin since the 2022 crypto credit crisis. "A $5.4 billion reduction in the largest stablecoin's circulating supply typically signals capital exiting the crypto ecosystem," said Diana Chen, crypto regulation analyst at Edgen. "The timing aligns with US regulators tightening requirements for foreign-issued stablecoins." The supply dropped from $190 billion to $184 billion as of July 21, according to DefiLlama data. The contraction comes as the US GENIUS Act introduces compliance rules due by mid-2026, with restrictions on foreign-issued stablecoins like USDT taking effect by 2028 unless issuers meet new standards. A sustained reduction in USDT supply could reduce overall market liquidity, potentially pushing crypto asset prices lower. The shift may also accelerate migration toward USDC and other dollar-backed stablecoins compliant with US rules, reshaping the $200 billion stablecoin market. USDT remains the dominant stablecoin by market cap, holding roughly 92 percent of the sector. But the 60-day outflow suggests holders are redeeming tokens for fiat currency or rotating into alternative stablecoins ahead of the regulatory deadline. Circle's USDC, which is issued under US oversight and publishes monthly reserve attestations, has emerged as the primary beneficiary of similar regulatory shifts in Europe under MiCA. The GENIUS Act, which establishes a federal framework for payment stablecoins, requires foreign-issued stablecoins to meet reserve, disclosure and anti-money laundering standards to remain accessible on US platforms. Tether has not disclosed whether it plans to seek US regulatory approval, though the company has expanded compliance efforts in non-US jurisdictions including El Salvador and Switzerland. For crypto markets, the USDT supply contraction introduces a liquidity headwind at a time when trading volumes across major exchanges have already declined from first-quarter peaks. A smaller stablecoin float means less dry powder available for spot purchases, which could amplify downward moves during selloffs. This article is for informational purposes only and does not constitute investment advice.