The Web3 landscape continues to evolve at a rapid pace, with significant movements across decentralized finance (DeFi), non-fungible tokens (NFTs), and blockchain infrastructure. One of the most notable developments this week is Coinbase’s stock reaching a record closing high, signaling renewed institutional and market confidence in the crypto ecosystem. As the broader digital asset space gains traction, key metrics in DeFi and NFTs also reflect growing adoption and investor interest.
This article dives into the latest data and developments shaping the Web3 world—from surging DeFi protocols and trending NFT collections to strategic investments and governance debates—offering a comprehensive overview of where innovation is accelerating.
DeFi at a Glance: Key Metrics Driving Confidence
Decentralized finance remains a cornerstone of the Web3 revolution, providing transparent, permissionless financial services to users worldwide. The following metrics highlight the current health and momentum of the DeFi ecosystem:
1. Total DeFi Token Market Cap: $110.75 Billion
The combined market capitalization of all DeFi-related tokens now stands at $110.75 billion, according to CoinGecko. This reflects sustained investor confidence despite macroeconomic uncertainties. Major protocols like Uniswap, Aave, and Curve continue to dominate market share, while newer layer-1 and layer-2 ecosystems contribute to diversification.
2. 24-Hour DEX Trading Volume: $5.72 Billion
Decentralized exchanges (DEXs) recorded $5.72 billion in trading volume over the past day—a strong indicator of active on-chain engagement. Platforms such as Uniswap, PancakeSwap, and Jupiter are seeing increased usage, driven by improved liquidity, lower fees, and enhanced user interfaces.
3. Total Value Locked (TVL) in DeFi: $110.58 Billion
The total value locked across DeFi protocols has reached $110.58 billion, per DefiLlama data. Ethereum remains the leading chain by TVL, followed by emerging competitors like Solana, Arbitrum, and Base. This growth is fueled by yield-generating opportunities, cross-chain interoperability, and institutional-grade infrastructure development.
👉 Discover how next-gen blockchain platforms are redefining decentralized finance.
NFT Market Revival: Signs of Renewed Activity
After a prolonged cooling period, the NFT market shows signs of resurgence, with both trading volume and collector interest on the rise.
1. Total NFT Market Cap: $163.96 Billion
The overall market capitalization of NFTs has climbed to $163.96 billion, according to CoinMarketCap. Blue-chip collections like Bored Ape Yacht Club (BAYC), CryptoPunks, and Art Blocks remain dominant, while utility-driven NFTs—such as those tied to gaming, identity, or access—are gaining momentum.
2. 24-Hour NFT Trading Volume: $1.967 Billion
NFT trading volume surged to $1.967 billion within 24 hours, reflecting heightened activity across marketplaces like Blur, OpenSea, and Magic Eden. This spike is partly attributed to new collection launches, celebrity endorsements, and integration with social and gaming platforms.
3. Top Gainers: 24-Hour Sales Surge
Several NFT projects saw explosive growth in sales volume over the past day. Projects like Pudgy Penguins, Doodles, and Moonbirds experienced double-digit percentage increases, indicating renewed speculative and cultural interest.
Headline: Coinbase Stock Reaches Record High
Coinbase (COIN) closed at **$375.07** on Thursday—the highest closing price since its April 2021 IPO—marking a 5.5% gain on the day and a staggering **40% increase over the past month**. Over just five trading sessions, the stock rose nearly 24%, surpassing its previous all-time high of $357.39 set in November 2021.
This rally coincides with broader optimism around regulatory clarity in the U.S., growing institutional adoption of crypto assets, and expectations surrounding spot Ethereum ETF approvals. With a market capitalization exceeding $89 billion, Coinbase is once again positioned as a bellwether for crypto market sentiment.
Analysts suggest that improved revenue visibility, cost optimization efforts, and expanding product offerings—including staking, custody, and Web3 developer tools—are contributing to investor confidence.
Meme Coin Meets Mainstream: Mullen Embraces Crypto Payments
In a bold move toward mainstream crypto adoption, Mullen Automotive (NASDAQ: MULN) announced it will accept Bitcoin and the TRUMP meme coin as payment for its commercial electric vehicles, including the Mullen FIVE and Bollinger Motors models.
This positions Mullen among a small but growing number of automakers embracing digital currencies. CEO David Michery stated that the decision aims to expand market reach and appeal to tech-savvy consumers and businesses. The company also plans to support additional major cryptocurrencies in the near future.
While meme coins often face skepticism due to their speculative nature, their integration into real-world transactions underscores a shift toward utility-based narratives—even for community-driven tokens.
DeFi Innovation & Governance Updates
OpenZK Network to Launch OZK Staking on July 14
OpenZK Network is set to launch OZK token staking on July 14, enabling users to earn rewards while securing the network. Beyond incentivization, OpenZK is exploring a dual-token gas model: users will be able to pay transaction fees using either ETH or OZK, increasing the latter’s utility and demand potential.
This development could serve as a blueprint for other ZK-based layer-2 solutions aiming to enhance tokenomics through practical use cases.
Draper Dragon Invests in AllScale: Bridging Enterprise Stablecoin Gaps
Venture capital firm Draper Dragon has officially invested in AllScale, a platform focused on simplifying enterprise stablecoin payments. AllScale enables businesses to securely manage stablecoin transactions for payroll, sales, and compliance—all within a regulated framework.
Backed by talent from Kraken, Block (formerly Square), Capital One, and OKX, AllScale is also supported by Amber Group, KuCoin Ventures, and Hong Kong’s Cyberport incubator program.
👉 Explore how enterprise blockchain solutions are transforming global payments.
Sui Name Service Acquires "sui.eth" Domain
Sui Name Service (SNS) has secured the "sui.eth" domain on Ethereum’s ENS system—a strategic step toward cross-chain identity interoperability. This follows SNS’s earlier launch of “The Portal,” a cross-chain messaging protocol.
By bridging naming systems across chains, SNS aims to simplify user experience and lay the groundwork for unified digital identities in Web3.
Across Co-Founder Denies Misconduct Allegations
Hart Lambur, co-founder of cross-chain bridge Across, has publicly refuted allegations made by Glue Protocol’s founder regarding fund misappropriation and vote manipulation.
Lambur clarified that Risk Labs—the non-profit overseeing Across—is governed under Cayman Islands law and operates transparently. He emphasized that the $23 million in question was allocated solely for protocol development, not personal gain. Additionally, he confirmed he receives a $100,000 annual salary and has not claimed any token incentives.
All voting activity, including wallets linked to team members, is publicly verifiable on-chain.
Polychain’s Celestia Investment Yields Over $80M Profit
According to Pavel Paramonov, founder of analytics platform Hazeflow, venture firm Polychain Capital earned over **$80 million** from its early investment in **Celestia**, having initially committed around $20 million.
By selling staking rewards rather than principal tokens, Polychain realized more than a 4x return—highlighting the profitability of early participation in modular blockchain ecosystems.
Frequently Asked Questions (FAQ)
Q: Why did Coinbase stock hit a new high?
A: Coinbase’s stock surged due to improved market sentiment, anticipation of U.S. spot Ethereum ETF approvals, stronger-than-expected financial performance, and growing adoption of crypto among institutions.
Q: What does Mullen accepting TRUMP coin mean for meme coins?
A: It signals a shift toward real-world utility for meme coins. While speculative in nature, such integrations may boost credibility and drive broader acceptance if adoption grows.
Q: How can I participate in OZK staking?
A: Starting July 14, users can stake OZK via OpenZK’s official platform. More details on eligibility, rewards rate, and lock-up periods will be published closer to launch.
Q: Is DeFi safe for retail investors?
A: While DeFi offers high yields and innovation, it carries risks such as smart contract vulnerabilities, impermanent loss, and regulatory uncertainty. Always conduct thorough research before investing.
Q: What is the significance of "sui.eth"?
A: Owning “sui.eth” allows seamless interaction between Sui’s native naming system and Ethereum’s ENS users—paving the way for easier cross-chain communication and unified digital identities.
Q: Can venture capital profits like Polychain’s be replicated?
A: Early-stage crypto investing can yield massive returns but requires deep technical understanding and risk tolerance. Most retail investors access similar opportunities through token launches or IDOs on reputable platforms.
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As Web3 continues maturing—from infrastructure upgrades to real-world use cases—the convergence of finance, identity, and decentralized governance is becoming increasingly tangible. With leaders like Coinbase setting new benchmarks and innovators pushing boundaries in DeFi and NFTs, the foundation for mass adoption is being laid—one protocol at a time.