Crypto’s payments moment

Bitcoin and the broader crypto market finished the week higher, with Bitcoin recovering from below US$59K to hit a two-week high. The rebound was helped by a more supportive macro backdrop, as easing inflation concerns and a softer June jobs report improved sentiment toward risk assets.

Over the seven days to 5 July 2026, Bitcoin and Ethereum edged higher by 4.86% and 12.57%, respectively. Bitcoin’s market capitalisation rose to US$1.27 trillion, while the global crypto market stood at US$2.2 trillion. Bitcoin’s market dominance¹ dropped slightly to 58.1%, as altcoins outperformed.

Tokenisation’s next frontier may not be faster settlement or 24/7 trading, but personalised investing. According to New York Life Investment Management, blockchain technology could allow asset managers to build highly customised portfolios at scale by combining tokenised funds, bonds and other assets in ways that are difficult and costly using today’s financial infrastructure².

Tokenisation is evolving beyond digitising assets to reshaping how investment portfolios are constructed, managed and distributed. As blockchain infrastructure matures, personalisation could become one of its most compelling use cases.

Standard Chartered has become the first global systemically important bank (G-SIB) to offer institutional clients direct access to mint and redeem USDC through its own banking platform. By integrating banking, custody and stablecoin services into a single onboarding process, they have removed a key operational barrier for institutions looking to use digital dollars for settlement and treasury management.³

Stablecoins are no longer just being adopted by crypto firms – they are becoming part of mainstream banking infrastructure. As major banks integrate regulated digital dollars into their core services, the gap between traditional finance and blockchain-based payments continues to narrow.

Coinbase shares rose on renewed optimism around US crypto regulation, especially stablecoin legislation. The market sees clearer stablecoin rules as a direct positive for Coinbase because USDC-related revenue is a meaningful part of its business, alongside trading and custody. In simple terms: regulatory clarity is being priced as a growth catalyst, not a headwind⁴.

Coinbase is held in the CRYP Crypto Innovators ETF ⁵. CRYP provides exposure to global companies at the forefront of the crypto economy.⁵

This chart shows what Bitcoin’s least reactive investors are doing, rather than what short-term traders are saying. When long-term holders are accumulating, it usually means experienced holders are absorbing supply during weakness instead of using rallies to exit.

According to data from Glassnode as of 4 July 2026, the score indicates long-term holders have shifted back from net distribution to net accumulation, adding roughly 50,000 to 100,000 BTC on a net basis. That is important because it suggests holders are becoming more patient, even though the broader market has not yet returned to clear bullish momentum.

This chart shows whether recent buyers are in profit or still under pressure. A reading below 1.0 means the average short-term holder is underwater, which can create selling pressure as rallies approach their cost base.

According to data from Glassnode as of 5 July 2026, the short-term holder MVRV (market value to realised value, a ratio comparing current price to the average price paid) is still below breakeven, with the latest public chart showing about 0.90, after recently improving from roughly 0.81. That is important because it shows the market has stabilised somewhat, but new demand has not yet been fully repaired, so the recovery remains fragile rather than confirmed.

Cardano (ADA) recovered over 32% in the last week and 18.2% in the month to 6 July. Prices were pushed higher due to whale accumulation during the recent market weakness and improving derivatives positioning. Rising open interest, positive funding rates and stronger momentum indicators suggest the move was driven less by fresh news and more by renewed risk appetite and positioning⁷.