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Today's News Recap
Binance Blip - Binance futures trading back online after brief outage.
AI Accusations - Eliza Labs founder sues Elon Musk’s X over alleged anticompetitive actions and account suspension.
Sei Proposals - 21Shares files for Sei ETF with possible staking as SEC reviews altcoin funds.
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Scans across dozens of DEXs to give traders the most efficient swap rates automatically.
Daily swaps jumped +204% QoQ (407k/day), driven by Binance Alpha airdrops that pushed BNB Chain volume up 781%, now 79% of Aggregation Protocol traffic
Solana and Unichain, brought MEV protection and new wallet integrations, Pathfinder upgrade improved swap efficiency by up to 6.5%
1inch routed $28.6B in Q2, capturing 59% of all aggregator volume across EVM chains, far ahead of competitors
Raydium remained the leading Solana DEX with 28.9% daily volume share in Q2, though down from 44.9% in Q1
RAY delivered a 9.7% yield in Q2 2025 ($0.21 EPT on adjusted market cap), making it one of the highest-yielding protocols
Token launchpad went live in April, driving $1.1B in Q2 volume and $4M in revenue (~22% of Raydium’s total)
Concentrated liquidity pools overtook legacy AMM pools for the first time, capturing 76% of Raydium’s Q2 volume
XRP futures listed on Coinbase and CME, fulfilling SEC requirements for potential U.S. spot ETF approval this fall
Ripple’s RLUSD hit $65.9M (+49% QoQ), XRPL’s largest stablecoin; new stablecoins (USDC, EURØP, etc.) launched on XRPL
Tokenized treasuries, commercial paper, and real estate pushed XRPL’s RWA market cap to an all-time high of $131.6M.
XRP remains the 4th largest crypto asset ($132B market cap, +8.5% QoQ)
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Two Bits
Lever Up on Reality
By: Whynonah
Prediction markets are the new old thing… again!
After peaking during the 2024 U.S. election cycle, most expected prediction market volume to fall off a cliff. Instead, the drop was gradual, and in recent months, volume has stabilized and even started crawling back up. It turns out people like betting on world events (especially when they think they have an edge and the UI makes them feel like they’re sophisticatedly trading, not gambling).
While volumes have “leveled” out, the infrastructure around prediction markets hasn’t. Gondor, a new protocol built to let users borrow against their illiquid Polymarket positions, just came out of stealth with an angel round led by Maven11 and more. The team interviewed ten active Polymarket traders, three of whom had traded over $1M in volume, and found that, on average, users were willing to borrow up to $100K at 15% interest through a simple, purpose-built interface. Meanwhile, prediction markets are drawing in a wider mix of platforms, investors, and institutions:
Polymarket × X: Polymarket became the official prediction market partner of Elon Musk’s X and xAI, with plans to integrate live markets directly into the social and content feed.
Kalshi × Robinhood: Kalshi, the only CFTC-regulated U.S. prediction market, recently hired a crypto-native head of strategy and launched sports-focused markets in partnership with Robinhood.
FanDuel × CME: The Chicago Mercantile Exchange and FanDuel have announced a collaboration to bring event-based contracts to retail audiences, marking another bridge between traditional finance and prediction-based speculation.
The Clearing Company: Founded by former Polymarket and Kalshi team members, the project raised $15 million from Coinbase Ventures and Union Square Ventures to build a new onchain, permissionless prediction market protocol.
1789 Capital × Polymarket: Donald Trump Jr.’s investment firm has taken a stake in Polymarket.
Though “activity” has cooled since the election, all things point to a sector positioned for longer-term growth.
