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Crypto marketplace analysts are optimistic arsenic July winds to a close, and Bitcoin reserves connected crypto exchanges are down 2% connected the month.
This is simply a bullish signal. A alteration successful speech reserves indicates radical are taking their Bitcoin (BTC) disconnected exchanges and holding it, anticipating the terms to spell higher. While 2% connected the period sounds similar tiny potatoes, it continues the wide alteration successful speech reserves since January.
In the US, the House of Representatives passed 3 crypto laws successful July. One of them — the GENIUS Act regulating stablecoins — was signed into instrumentality by President Donald Trump. With acceptable rules for stablecoins, and a regulatory model successful the signifier of the CLARITY Act making its mode done the Senate, observers foretell important maturation successful the stablecoin sector.
The worth of tokenized real-world assets (RWAs) continues to grow, with full RWA worth onchain increasing by 2.6%. Firms are embracing tokenized stocks, but further adoption could travel with ineligible trouble.
Here’s July by the numbers.
Stablecoin marketplace adds $4 cardinal successful marketplace headdress arsenic GENIUS Act becomes law
On July 18, Trump signed the GENIUS Act into law, which acceptable retired a bid of regulations for the stablecoin industry.
It didn’t see provisions for stablecoin issuers to connection their customers involvement — a large sticking constituent from manufacture bigwigs similar Coinbase CEO Brian Armstrong — but the instrumentality was hailed arsenic a large measurement guardant for the crypto industry.
In July, astir $4 cardinal was added to the stablecoin supply, bringing the wide marketplace cap of stablecoins supra $250 billion.
Stablecoins person besides go much active. The fig of monthly progressive addresses was up implicit 20% successful July to implicit 38 million. This reflects increasing adoption of stablecoins, the full transaction worth of which reached implicit $7 trillion successful the archetypal 4th of 2025.
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Sygnum main concern serviceman Fabian Dori antecedently told Cointelegraph that the GENIUS Act “gives assurance to organizations and issuers to make original, innovative ‘killer apps’ that don’t conscionable service their customers’ existent needs but make request for wholly caller services, including payments.”
Bitcoin speech reserves proceed downward trend
The magnitude of Bitcoin sitting connected exchanges is going down. In July, Bitcoin speech reserves decreased 2%, continuing a inclination that has persisted since the opening of 2025.
When looking astatine the inclination since January, the fig of Bitcoin reserves connected exchanges is down 14%.
July besides marked the archetypal clip since 2018 that little than 15% of the wide Bitcoin proviso was connected exchanges. This deficiency of proviso connected exchanges and over-the-counter (OTC) desks has led immoderate analysts to believe that determination volition beryllium a Bitcoin “supply shock” successful the adjacent future, arsenic purchaser request meets with decreased supply.
Bitcoin investigation relationship Crypto Chief noted the important variance successful Bitcoin’s price, which precocious deed all-time highs, and the debased proviso of BTC connected OTC desks and exchanges: “The Bitcoin equilibrium disposable OTC is successful freefall. We person ne'er seen specified a divergence betwixt equilibrium and price! You are witnessing a proviso occupation play out.”
Diminishing proviso connected exchanges means that radical are switching to semipermanent holding. This could mean that investors are expecting a terms rally oregon further volatility successful the market, according to Ben Zhou, CEO of speech Bybit.
Related: Bitcoin successful limbo: Watch these BTC terms levels up of FOMC
He said astatine a property league successful July, “In the past fewer months, the centralized speech holding of Bitcoin reserves has been connected a downtrend. That typically means radical are not trading the marketplace arsenic overmuch and they deliberation the terms is fluctuating. So, it really means that there’s not truthful overmuch confidence.”
Tokenized RWAs walk $25 billion
The full worth of tokenized RWAs surpassed $25 billion, increasing by astir 2.5% successful July.
A study from Binance stated, “As regulatory frameworks go clearer, the assemblage is poised for continued maturation and accrued information from large manufacture players.”
Indeed, the full worth of the RWA marketplace has grown by 260% this twelvemonth alone, driven chiefly by tokenized backstage recognition and US Treasury debt.
In July, the worth of tokenized stocks grew 15% to implicit $400 million.
More wealth entered tokenized stocks successful July. Source: RWA.xyzTrading app Robinhood announced astatine the opening of the period that it volition beryllium offering RWA trading. At publishing time, tokenized banal addresses were up astir 700% connected the month.
Related: Boom successful RWA tokenization expected aft passing of GENIUS Act — Aptos exec
Tokenized stocks whitethorn beryllium an absorbing mode for firms to rise capital, but determination are inactive ineligible questions, peculiarly erstwhile backstage firms similar OpenAI connection alleged “equity” with nary ownership rights to the nationalist done tokens.
Regulators successful immoderate jurisdictions person raised concerns implicit whether determination is capable capitalist protection for banal tokenholders.
Three US states walk crypto laws; Arizona axes crypto reserve bill
While the GENIUS Act and Congress’ crypto week stole headlines successful July, states person besides been moving connected expanding their regulatory frameworks for cryptocurrencies. Three states — Missouri, New Hampshire and Oregon — passed laws pertaining to crypto successful January.
Missouri introduced regulations for crypto ATMs and a instrumentality that treats golden and metallic specie, arsenic good arsenic metals-backed physics currencies, arsenic ineligible tender.
New Hampshire established a committee “to survey and make a imaginable regulatory model for unchangeable tokens and tokenized real-world assets (RWAs),” which volition taxable its findings by Nov. 1.
Oregon updated its instrumentality connected abandoned spot to see crypto, “treating them arsenic abandoned aft 3 years and obligating holders to remit or, if instructed, liquidate them for the State Treasurer.”
In Arizona, Governor Katie Hobbs vetoed House Bill 2324, which would make a authorities stockpile from crypto seized by instrumentality enforcement authorities. Hobbs blocked the measure due to the fact that it “disincentivizes section enforcement from moving with the authorities connected integer plus forfeiture by removing seized assets from section jurisdictions.”
Crypto firms people regulatory support successful 7 countries
Governments worldwide person introduced licensing frameworks to modulate the cryptocurrency industry.
In July, 7 countries formed ineligible structures oregon issued licenses to cryptocurrency firms.
The Hong Kong Monetary Authority finalized its rules for stablecoins and launched a nationalist registry for licensed issuers.
In Europe, Bybit, OKX and CoinShares each received licenses nether the Markets successful Crypto-Assets (MiCA) regulatory framework. Bybit officially launched operations successful Austria, portion OKX and CoinShares set up store successful France.
Meanwhile, Ripple announced it was seeking a license nether MiCA and is eyeing a European enlargement done Luxembourg. AllUnity, a stablecoin task from DWS and Deutsche Bank, received support from German fiscal regulators, who granted an E-Money Institution (EMI) licence that volition let it to contented a euro-denominated stablecoin.
Crypto speech Bitstamp volition be capable to service customers successful Singapore pursuing support from the country’s Monetary Authority.
In the US, some Ripple and Circle are seeking banking licenses. The licence would let the firms to connection custodial services and run nationally nether the oversight of the Office of the Comptroller of the Currency, alternatively than having to use individually with authorities regulators.
Magazine: Crypto traders ‘fool themselves’ with terms predictions: Peter Brandt
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