Bitcoin's on-chain activity has plunged to multi-year lows, with the 30-day moving average of daily active addresses falling to 609,688 on July 19, 2026—comparable to the 570,710 seen in July 2018. The 100-day average hit 621,957 on July 27, similar to January 2019's 605,433, according to Cryptoquant analyst chesscryptoonchain. Historically, such depressed levels have appeared near market bottoms, suggesting the current downturn may be forming a base. However, analysts caution this is just one signal and should not be used in isolation. The drop in network engagement reflects broader market fatigue, with Bitcoin struggling to sustain upward momentum despite occasional price pops.

The total market capitalization of stablecoins has contracted by nearly $15 billion from May to August 2026, dropping from roughly $280 billion to $266 billion. CryptoQuant analyst Darkfost notes that this sustained decline signals a continued drain of liquidity from the crypto market. The erosion in stablecoin supply is hindering Bitcoin's price recovery, as there is no fresh capital inflow to fuel rallies. This trend underscores a risk-off environment where traders are withdrawing funds rather than deploying them into digital assets, keeping upward price pressure muted despite occasional bullish on-chain data elsewhere.

A South Korean ruling party lawmaker plans to introduce a bill to postpone the taxation of virtual asset income by three years, pushing the start date from January 1, 2027, to January 1, 2030. The current framework would classify gains from crypto transfers and lending as "other income" subject to a 22% tax rate (including local levies) for profits exceeding 2.5 million won. The proposed delay aims to allow time for a comprehensive review of the tax system and to establish safeguards that prevent institutional confusion and provide clearer guidance for taxpayers. The move reflects ongoing regulatory uncertainty in one of Asia's most active crypto markets.

South Korea's Financial Supervisory Service has begun overhauling its loss compensation system to include virtual assets in financial fraud calculations, targeting an October 2026 rollout. The reform will move away from a purely won-based calculation, instead incorporating the type and quantity of virtual assets involved. When payments are suspended, the won equivalent value of the crypto holdings will be factored into refunds. This system upgrade acknowledges the rising prevalence of voice phishing scams that involve cryptocurrency, providing a tangible path for victim reimbursement in one of the region's most stringent regulatory environments.

From 2022 through May 2026, South Korean won-based exchanges terminated trading support for 394 cryptocurrencies, according to Financial Supervisory Service data. The leading cause was project risk (155 cases), followed by investor protection risks (108 cases), market risks (56 cases), technical risks (50 cases), and other risks. The mass delistings highlight the strict listing maintenance standards in the country, which have intensified scrutiny on token viability and investor safeguards, forcing many projects to exit the Korean market entirely.

South Korean exchange Bithumb will block all crypto deposits and withdrawals for Shelbit, Aban Tether, and Crypto Home DMCC after the U.S. Treasury's OFAC sanctioned them for allegedly supporting terrorist groups, including Iran's Islamic Revolutionary Guard Corps, and facilitating money laundering. The move reflects Bithumb's compliance with international sanctions, which carry implications for Asian exchanges dealing with counterparties under U.S. restrictions. It reinforces the trend of Korean platforms strengthening anti-money laundering measures to avoid regulatory backlash.

Hong Kong's Securities and Futures Commission added Polar Tensor and 17 associated websites to its list of suspicious virtual asset trading platforms. The SFC warned that the entity is not licensed to conduct regulated activities in Hong Kong. The action is part of the city's ongoing effort to protect investors from unlicensed operations as it pursues a path toward becoming a regulated digital asset hub. The alert follows a string of similar warnings as the SFC tightens oversight of crypto exchanges operating without approval.

Police in Dongguan, a major manufacturing city in China's Guangdong province, intercepted a crypto investment fraud just minutes before the victim was set to hand over 1.1 million yuan (approximately $150,000) in cash. The scam lured the victim with promises of high returns through an "internal crypto investment channel" and used fake profit screenshots to build trust. The fraudsters instructed the victim to withdraw cash for an offline "USD exchange" to fund the investment. The incident underscores the persistent risk of crypto-related fraud in China's mainland market, where aggressive police intervention continues to be a key defense.

Unitree Technology, dubbed China's first listed humanoid robot company, began its IPO subscription on the Shanghai Stock Exchange's STAR Market, with analysts estimating a single lot could yield profits exceeding 200,000 yuan ($28,000). Given the small free float and the thematic appeal, the expected allotment ratio is as low as 0.02-0.03%. Based on average first-day gains of 276% for A-share IPOs in 2026, the stock could deliver huge returns, amplifying retail frenzy. This listing reflects China's push into advanced robotics, a sector that saw Chinese manufacturers account for over 97% of global humanoid robot shipments in the first half of 2026.

Kong Tao, previously head of ByteDance's robotics team, has moved to Xiaomi to lead its robotics foundation model research, according to multiple independent sources. Kong joined Xiaomi in the summer of 2025 and brought along several former ByteDance employees. Xiaomi's robotics division now has about 200 staff covering robot hardware, "cerebellum" and "brain" systems, and operating systems. The hire deepens Xiaomi's AI ambitions and signals a talent race among Chinese tech giants to build the next generation of embodied intelligence, which could intersect with decentralized AI and robotics developments in the crypto space.