Today's News Recap

ETF Flexibility - NYSE adjusts rules to list Trump Media's Bitcoin-Ethereum ETF, potentially impacting crypto market access.

Volatility Spike - Bitcoin's $14B options expiry increases market uncertainty amid rising put-call ratio.

XRPL Upgrade - XRP Ledger brings token escrow, other upgrades for DEXs in new release.

Full News Recap

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Full Market Overview

Messari Protocol Reporting

Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.

LayerZero Pulse Report

  •  Interoperability & cross-chain messaging across 130+ blockchains

  • Market cap +53% YoY to $245B; transfer volume hit $3.7T/month, outpacing Visa

  • OFT (Omnichain Fungible Token) standard allows stablecoins to maintain a unified supply across chains

  • 25% of major issuers now use OFT, including Tether (USDT0), Ethena (USDe), PayPal (PYUSD), Ondo (USDY), Frax (frxUSD)

U2U Pulse Report

  • Layer-1 blockchain built for real-world DePIN and decentralized infrastructure

  • High-performance EVM-compatible chain using DAG + Helios consensus

  • Emerging as local leader in Vietnam, where 21% of  population owns crypto

  • $23.8M in Funding: Backed by Vietnam’s largest financial institution (SSI) and global investors

NodeOps Pulse Report

  • DePIN enabling permissionless compute coordination

  • Expands beyond node management with Staking Hub and real-time security tools, targeting full-stack decentralized compute

  • $52M+ in delegated assets, 17% of all BEAM staked, and growing validator share

  • NODE-to-Credits model bootstraps usage pre-launch, tying token value to real network activity

Messsari Research

Look Up: A Helium Valuation and Catalysts for Growth

By: Dylan Bane

Enterprise Sneak Peek 

Helium’s network is booming—but the market hasn’t caught up.

In our latest report, Look Up: A Helium Valuation and Catalysts for Growth, we unpack the growing disconnect between Helium’s on-chain fundamentals and HNT’s price performance. Despite generating $32M+ in annualized revenue and doubling its subscriber base in H1 2025, HNT has fallen over 60% year-to-date.

  • What’s behind the mispricing?

  • Where does Helium go from here?

  • What could a buyback or value-share model look like?

We dive into detailed revenue projections, segment valuations (offload vs. MHNO), and catalysts like:

  • The August 1 halving

  • Telefónica’s rollout in Mexico

  • Inversion’s MVNO strategy in LatAm

If Helium can align Nova Labs’ MHNO revenue with tokenholders, the network may force a sector-wide revaluation of DePIN.

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