A race against time
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 5th August 2026.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
Don’t invest in crypto unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more.
What’s up
Stocks Soar; DeFi Coins Scamper
Stocks surged to dizzying heights yesterday with the S&P 500 closing above 7,700 for the first time. This mid-summer rally carried over into the futures market as of early today. Earnings have been robust. Wall Street seems convinced smooth sailing is set to return to water routes throughout the Middle East.
The crypto market, meanwhile, is ambivalent. Bitcoin has barely budged, although it did inch (barely) across the $64,000 threshold on a 0.8% gain over the past 24 hours, as of 9:15 a.m. (EST), according to CoinGecko.
Although Congressional efforts to pass sweeping crypto market structure legislation appears stalled with the clock winding down, a slew of DeFi assets are enjoying healthy green spurts on the one-day charts. This cohort of coins (up 3%-4%) includes HYPE, ONDO and UNI. DeFi developer constraints remain a major sticking point in the ongoing CLARITY debate which includes voices from the U.S. law enforcement community who are insisting "mixing" technology creators bear responsibility for any, even inadvertent, dealings with bad actors.
One of the biggest gainers over the past 24 hours is Bitway (BTW) which bills itself as a Bitcoin liquidity bridge. Following a 20% surge, BTW’s market capitalization increased to $308M, making it the 126th-largest digital asset, according to CoinGecko. In the past day, BTW’s per-coin spot price has been as high as nearly 15 cents. Its all-time high of 19 cents occurred some six weeks ago.
What's down
Crude Oil Falls Amidst Growing Optimism Surrounding Crucial Strait
Oil prices fell about 5% on Tuesday after Treasury Secretary Scott Bessent said the U.S. and Iran were potentially closing in on a deal to reopen the Strait of Hormuz as soon as even possibly today. Iran is said to be considering allowing European nations to remove mines from the crucial waterway, said the Wall Street Journal, citing ANZ research analysts. Meanwhile, U.S. military leaders insist commercial vessels are already free to transit. The “southern route of the Strait of Hormuz remains free and open,” said Central Command, referring to a route through waters off the coast of Oman.
Brent crude oil futures, which touched $100 per barrel as of two weeks ago, are now hovering at about $80. However, front-month oil contracts actually ticked up earlier today after Yemen's Houthis said they attacked a Saudi vessel in the Red Sea.
What's next
Landmark Crypto Legislation Running Out Of Time
Time is tight for the CLARITY Act.
For a landmark package of crypto regulations to advance out of limbo, the Senate will need to file for “cloture” by the end of today. Cloture is a fancy term for a petition motion to end ongoing debate, circumventing any possible filibuster effort by opponents. The “let’s get on with it” petition only needs the support of 16 Senators while the measure itself would require 60 yes votes. That vote couldn't happen until Friday, which is when the Senate is set to begin summer recess.
At this very moment, Democrats are said to be girding to try to thwart cloture on CLARITY, owing reportedly to concerns about ethics language and regulatory scope, per Cointelegraph, citing Punchbowl News.
