US chip stocks declined, with the Philadelphia Semiconductor Index falling around 5%.

US President Donald Trump said Iran has submitted a meeting request via intermediaries, adding that the U.S. is holding "good negotiations" with Iran and there is "a very good chance of reaching some outcomes." "Iran wants to meet, and we will meet with them," Trump stated. He also emphasized that he has "plenty of patience and ample time," noting that the U.S. has a large stockpile of ammunition and hopes to acquire more. Regarding the situation in the Strait of Hormuz, Trump said the U.S. will use Iranian funds to cover losses related to the waterway. Additionally, he revealed that the U.S. and Israel have certain differences on the Iran issue but are "very close to reaching an agreement." Trump also said he will later consult Russian President Vladimir Putin about Russia’s actions regarding Iran and inquire about relevant satellite imagery. He added that the U.S. is mass-producing Patriot missiles and may need to get involved in issues related to the Houthi movement.

US President Donald Trump stated that the United States "should have the lowest interest rates in the world," adding that members of the Federal Reserve Board are "political." Trump called on Federal Reserve Chair Kevin Warsh to address internal issues within the board and push for interest rate cuts. The U.S. leader has repeatedly criticized the Federal Reserve for keeping interest rates too high, arguing that elevated rates limit economic growth. His latest remarks have once again intensified market...

WTI and Brent crude oil futures fell more than $0.5 in the short term, currently trading at $82.28 per barrel and $86.45 per barrel respectively. On the news front, U.S. President Donald Trump told reporters on Monday while traveling on Air Force One to Michigan that the U.S. is currently holding "good negotiations" with Iran. Trump said he has "ample time" to handle the Iran issue, adding that when it comes to a potential deal with Iran, "something very likely will happen." Additionally, he noted that he will ask Russia about providing satellite imagery to assist with the Iran issue. Trump stated that once the war ends, people will see a significant drop in prices.

Moonshot AI’s latest model, Kimi K3, has officially launched on Hugging Face and quickly climbed to the platform’s Trending Top 1 list. Hugging Face CEO Clem Delangue noted that Kimi K3 garnered over 4,000 likes just 30 minutes after its release, marking one of the fastest launch growth rates in the platform’s history. The Kimi K3 launch further expands the influence of Chinese large models in the global open-source community. As Chinese domestic models such as DeepSeek and Qwen continue to advance the open-source ecosystem, Chinese AI models are accelerating their entry into the global developer competition system.

Ondo Finance has announced the launch of its new Ondo Network, a high-performance execution layer designed to combine centralized exchange (CEX)-level transaction speed with the non-custodial, secure settlement capabilities of blockchain. Ondo CEO Ian De Bode stated that the Ondo Network is an evolved version of the original Ondo Chain plan. The company will not operate two separate networks; instead, it has adjusted its roadmap from building a full blockchain to focusing on an execution layer architecture. According to the introduction, Ondo initially planned to comprehensively tokenize real-world assets (RWAs) via Ondo Chain. However, after developing the Ondo Perps perpetual contract trading platform and communicating with users, the company found that the core bottleneck in the current market is not asset settlement, but transaction execution efficiency. The Ondo Network adopts a modular architecture that separates execution, validation, and settlement. It uses secure hardware-isolated execution environments to boost transaction speed while retaining key blockchain features: user self-custody of assets, verifiable transactions, and permissionless access. Currently, Ondo Perps is the first application built on this network, supporting 24/7 trading of perpetual contracts for stocks and commodities, and allowing tokenized real-world assets to be used as collateral. Ondo added that the network will also support other high-performance, privacy-protective, verifiable execution applications in the future, such as spot trading, lending, and structured products. Additionally, the launch of Ondo Network will not change the positioning of the ONDO token. The CEO said that ONDO will remain the governance and incentive token for Ondo’s RWA ecosystem and market infrastructure. As the network gradually decentralizes, ONDO will be used to coordinate the incentive mechanisms for validators, observers, and other ecosystem participants.

July 20–July 26, 2026 #LookonchainWeeklyReport ?? Overview Stablecoin supply was little changed last week, while DEX trading cooled and institutional activity remained muted, with public companies reducing 360 BTC and Bitmine buying just 9,946 ETH. ?? Stablecoin Market The total stablecoin market cap increased by $113.2M. ?? Spot & Perps Trading Volume on DEXs DEX trading cooled last week, with spot volume down 6.65% and perp volume down 14.9% WoW. ?? Protocol Revenue Top protocol revenue rem...