Merkle3s Weekly Recap:
Robinhood Chain sees explosive on-chain activity in its first week; NOXA launch platform fees briefly surpass Pump fun; CZ burns community tokens as BSC Meme sentiment cratered; BTC hovers near $63,000 in the late stages of its correction as CPI comes in below expectations
1️⃣ Macro: Fed Strikes Neutral Tone, Storage Stocks Drag on Indices
➡️ The Fed dot plot signaled a neutral stance, ruling out near-term aggressive rate hikes while not expecting imminent cuts
➡️ US storage stocks are correcting sharply, dragging indices lower. BTC and crypto appear in the late stages of adjustment with improving risk-reward
➡️ June CPI came in below expectations; core CPI was flat MoM (smallest increase since early 2021) on falling gasoline prices. Equities and BTC rallied
2️⃣ Robinhood Chain: Explosive On-Chain Metrics in Its First Week $HOOD
➡️ Since July 1: 17M+ transactions, ~350,000 addresses, ~$250M TVL, $1B+ DEX volume, 300,000+ daily active wallets, ~20,000 new tokens/day — top-tier among public chains
➡️ NOXA dominates with ~75% of daily token deployments: 23,699 deployers, 272,000 active wallets, 59,583 tokens, $13.6M lifetime fees — daily fees briefly exceeded Pump fun
➡️ Cashcat listed perps on Hyperliquid — its first new crypto contract in ~3 months. OI peaked at $5.7M; funding rates hit ~120% annualized
3️⃣ BSC Meme: CZ Burns Community Tokens, Sentiment Cratered
➡️ BNB Chain memes crashed hard — $CZ, $TCC, $BIBI and others pulled back 80–90% from peaks
➡️ On July 12, CZ burned community-sent meme tokens, calling it a "wallet cleanup." Markets read it as a cooling signal
4️⃣ Perp DEX: Hyperliquid HIP-3 TradFi Share Hits New High hyperliquid:native
➡️ Hyperliquid total OI hit a 2026 high of ~$10.5–11B; HIP-3 OI reached a new ATH of ~$3.4–3.6B. HIP-3 weekly volume hit ~$17B vs. ~$25.7B for crypto perps
➡️ TradFi share reached 42.9%, a historic high. Trade xyz drove the majority of HIP-3 volume
5️⃣ Prediction Markets: World Cup Nears End, Volume Pulls Back From Peaks
➡️ Polymarket's World Cup Winner market surpassed $4.2B in volume, overtaking the 2024 US Presidential Election (~$3.69B) as the highest-volume single event in Polymarket history. Combined with Kalshi: ~$5.8B across 52 World Cup markets
➡️ Daily volume has pulled back as the tournament nears its end, though prop markets stay active — "Did Ronaldo cry?" hit $5.4M in volume
➡️ Whether prediction markets sustain elevated activity post-World Cup will be a key industry metric
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