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Updated: July 20, 2026, 09:30 (UTC+8) | Author: MEXCHeadlinesCardano completes its first fully on-chain governance hard forkExpectations for the CLARITY Act to pass in 2026 turn bearishTether has two Updated: July 20, 2026, 09:30 (UTC+8) | Author: MEXCHeadlinesCardano completes its first fully on-chain governance hard forkExpectations for the CLARITY Act to pass in 2026 turn bearishTether has two

MEXC On-chain Daily Report：Expectations for the CLARITY Act to pass in 2026 turn bearish

#Industry Perspectives

2026/07/20 08:56

Updated: July 20, 2026, 09:30 (UTC+8) | Author: MEXC

Headlines

Cardano completes its first fully on-chain governance hard fork
Expectations for the CLARITY Act to pass in 2026 turn bearish
Tether has two years left to determine its US compliance strategy
South Korea plans infrastructure for won-backed stablecoins
New Uniswap protocol fees will be directed to UNI burns

Industry Updates

Trasia Labs Raises $1.75 Million in Seed Funding With Participation From Multicoin Capital

According to Odaily Planet Daily, Trasia Labs has completed a $1.75 million seed funding round, with Multicoin Capital participating as the sole institutional investor. The company develops Trasia, a perpetual futures trading platform built natively on Hyperliquid and focused primarily on Asian markets. Trasia currently operates through a non-custodial model and connects to Hyperliquid’s native perpetual markets, allowing users to trade without transferring custody of their assets to the platform. The team plans to launch proprietary perpetual contracts through the HIP-3 protocol and expand its selection of Asia-focused markets and liquidity services.

HIP-3’s Seven-Day Average Share of Hyperliquid Trading Volume Reaches Record 46.6%

According to Odaily Planet Daily, HyperliquidNews reported that HIP-3 markets now account for a record 46.6% of Hyperliquid’s total trading volume on a seven-day average basis. For comparison, HIP-3 recorded a single-day all-time high of 59% several days earlier. The data indicates that markets deployed through HIP-3 have become a major component of Hyperliquid’s trading activity. Their contribution is no longer limited to a temporary one-day peak, with the seven-day average also continuing to rise. As more teams use HIP-3 to launch proprietary markets, the protocol’s influence on Hyperliquid’s overall trading structure is expanding.

Native Markets: USDH Website Conversion Portal Shut Down, With Bridge to Provide Redemption Services in the Coming Months

According to Odaily Planet Daily, USDH issuer Native Markets has shut down the conversion portal on the official USDH website. Conversion services will be transferred to Bridge’s official platform, which will continue offering 1:1 USDH redemption and conversion services over the coming months. However, users will need to complete a separate account registration and onboarding process with Bridge. USDH holders seeking to convert or redeem their assets should access Bridge only through official links published by Native Markets, verify regional eligibility and account requirements in advance, and avoid submitting information through the discontinued portal or unofficial websites.

South Korean Financial Regulators Begin Sanctions Proceedings Against Upbit Operator Dunamu

According to Odaily Planet Daily, South Korean financial regulators have issued an investigation report to Upbit operator Dunamu and initiated sanctions proceedings following a KRW 44.5 billion hack. The Financial Supervisory Service has been investigating whether Dunamu violated the Virtual Asset User Protection Act. However, current regulations do not establish direct penalties for hacking incidents or computer system failures, leaving the potential severity of any disciplinary action uncertain. After Dunamu submits its explanation, regulators will issue an advance notice outlining their proposed sanctions. The final measures will require approval from several regulatory review committees.

South Korea Plans AI-Based Virtual Asset Oversight After Reporting More Than 30 Crypto Cases in Two Years

According to Odaily Planet Daily, South Korea’s Financial Services Commission said regulators have completed approximately 40 investigations into unfair virtual asset trading since the Virtual Asset User Protection Act took effect two years ago. More than 30 cases have been reported or referred to judicial authorities, with price manipulation representing the majority, and 25 suspected offenders have been transferred to law enforcement. The cases involved short-term manipulation, pump-and-dump schemes, borrowed API keys, issuer-assisted manipulation, and coordinated trading across overseas markets. South Korea now plans to introduce AI-powered real-time monitoring, second-by-second price analysis, and automated detection of suspicious accounts.

SBI Holdings Acquires a Majority Stake in Coinhako After Receiving Regulatory Approval

According to Odaily Planet Daily, Japanese financial services company SBI Holdings has completed its acquisition of a majority stake in Singapore-based cryptocurrency trading platform Coinhako after receiving regulatory approval. Coinhako is a local digital asset platform serving the Singapore market. The transaction further expands SBI Holdings’ cryptocurrency business across Asia and brings the Singapore market into its existing digital asset portfolio. Through a locally regulated platform, SBI will be able to expand its regional services and strengthen business connections between the Japanese and Southeast Asian digital asset markets.

New Hampshire Signs Blockchain Basic Laws as Texas Invests Approximately $5 Million in a Bitcoin Reserve

According to Odaily Planet Daily, New Hampshire Governor Kelly Ayotte has signed HB 639, known as the Blockchain Basic Laws, which provides additional legal protections for digital asset users, developers, miners, validators, and businesses while protecting the rights to use and self-custody digital assets. An earlier state law allows the treasury to allocate up to 5% of eligible public funds to precious metals and qualifying digital assets, with only Bitcoin currently meeting the market capitalization threshold. Texas, meanwhile, established its Strategic Bitcoin Reserve under SB 21 and made an initial investment of approximately $5 million through a spot Bitcoin ETF from a $10 million appropriation.

Nigerian President Signs Executive Order Regulating the Virtual Asset Industry

According to Odaily Planet Daily, Nigerian President Bola Tinubu has signed an executive order establishing a new virtual asset regulatory framework and targeting unregistered operators. The measures took effect immediately. A newly established Virtual Asset Committee will oversee policymaking and interagency coordination, chaired by the Central Bank of Nigeria, with the tax authority and securities regulator serving as deputy chairs. Securities-related activities will be supervised by the securities regulator, while the central bank will oversee payments, settlement, and custody involving non-security virtual assets. The central bank will also establish a regulatory sandbox, and an implementation framework must be completed within 30 days.

Bank of America Appoints New Digital Asset and AI Leaders to Advance Tokenized Deposits and Stablecoins

According to Odaily Planet Daily, Bank of America has appointed Sonali Theisen as head of its global digital asset platform. She will oversee the platform’s design, development, expansion, and governance while integrating digital asset systems with traditional financial infrastructure. Adam Dixon will lead work involving tokenized deposits and stablecoins, digital collateral movement, cryptocurrency trade settlement, and custody. Kevin Milsom has been appointed head of platform AI transformation and will promote the use of artificial intelligence across business platforms and daily operations. The appointments establish a dedicated management structure for the bank’s digital asset, on-chain settlement, and AI initiatives.

Zignaly Co-Founder: Zignaly Trading Volume Exceeds $10 Billion, but RWA Tokenization Is Not About Minting Tokens

According to Odaily Planet Daily, Abdul Rafay Gadit, co-founder of Zignaly and the Layer 1 network Zigchain, said the critical challenge in real-world asset tokenization is not simply minting tokens. Instead, projects must establish the underlying structures governing legal ownership, custody, valuation, redemption, and eligible holders. He argued that a dedicated Layer 1 blockchain can embed eligibility requirements, geographic restrictions, and transfer rules directly into an asset, placing execution, ownership, settlement, and reconciliation within the same verifiable state. Zignaly has grown to more than 500,000 users and surpassed $10 billion in cumulative trading volume.

MEXC Market Heatmap

Data note: Based on real-time MEXC market data recorded before 09:30 (UTC+8). Figures may subsequently change with market fluctuations.

Top 24H Gainers

BANK/USDT (+35.38%)
TOFU/USDT (+35.03%)
SHOT/USDT (+13.12%)

Top 24H Trading Volume

BTC/USDT (330.227M)
ETH/USDT (170.927M)
USDC/USDT (32.911M)

Trending Meme Tokens

4. On-Chain Calendar

Upcoming High-Risk Token Unlocks

Kaito/USDT — Jul. 20, 09:00: $11.92M (7.33%) — Very high sell-pressure risk
LayerZero/USDT — Jul. 20, 21:00: $21.17M (6.57%) — Very high sell-pressure risk
TON/USDT — Jul. 23, 21:00: $59.27M (1.35%) — High sell-pressure risk

Key Macro Events Today

Jul 20, 09:15 — China | People’s Bank of China | One-year and five-year LPR [Lending rates affect renminbi liquidity and risk appetite.]

Jul 20, 14:00 — Germany | Federal Statistical Office | PPI MoM and YoY [Producer prices affect inflation expectations and the euro rate outlook.]

Jul 20, 19:30 — Brazil | Central Bank of Brazil | Focus Market Readout [Economic expectations affect domestic interest rates and capital allocation.]

Jul 20, 20:30 — Canada | Statistics Canada | CPI and core inflation data [Inflation changes affect rate expectations and the Canadian dollar.]

5. Security Alert

Users should remain alert to cryptocurrency scam websites disguised as legitimate investment platforms. According to the FBI, criminal groups commonly contact victims through social media or unsolicited messages before promoting fraudulent high-return investment opportunities. These platforms may display fabricated profits, but when users attempt to withdraw funds, scammers demand additional taxes, unlocking fees, or deposits. US authorities have seized more than 503 “.com” domains used in such schemes. Users should not download applications or connect wallets through links provided by strangers, nor should they make additional payments to recover funds already deposited. Anyone encountering suspicious activity should stop transferring funds, preserve chat logs, domain names, wallet addresses, and transaction hashes, and report the incident to the relevant platform and law enforcement. Users should also avoid secondary scams involving paid asset-recovery services.

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