What happened in crypto today: Solana’s RWA boom, $527M BTC ETF outflows, and more

Bitcoin’s [BTC] current cycle shows long‑term holders absorbing losses instead of capitulating. However, with emerging historical bear market patterns, a final washout to $50K by Q3 remains possible before a durable bottom forms.

Beyond Bitcoin’s looming price bottom, other major crypto headlines include Solana’s [SOL] surge in tokenized volume, Michael Saylor’s latest Bitcoin remarks, and continued outflows from BTC ETFs. 

Here’s a full breakdown of the top updates that shaped the market in the past 48 hours.

Solana’s tokenized asset spot volume jumped

For Solana, the total value of spot trading involving tokenized real-world assets (RWAs) on the Solana blockchain more than doubled over a three-month period.

The jump from $5.7 billion in Q2 indicates that investor activity and liquidity in Solana’s tokenized asset ecosystem increased significantly.

This surge suggests that more users, institutions, and decentralized finance (DeFi) applications are actively using Solana to trade tokenized real-world assets. In fact, the monthly price action of Solana was also positive, changing hands at $80.72 at press time, after a hike of roughly 30%. 

Strategy’s Saylor makes a fresh tease amidst criticism

Meanwhile, Michael Saylor has once again taken to X with his latest tease, where he noted,

This announcement is widely being interpreted by the crypto community as another teaser that Strategy may soon announce a fresh Bitcoin purchase. This speculation stems from Saylor’s history of sharing cryptic Bitcoin-themed messages shortly before the company reveals new acquisitions.

Several market participants echoed this sentiment, with comments such as “back to buying” suggesting that Strategy has likely resumed accumulating Bitcoin. While others speculated that the company could be using proceeds from its preferred stock offerings to expand its reserves. Some, however, questioned whether Strategy had recently raised enough capital to fund another significant purchase.

As of now, the company holds 847,363 BTC, worth approximately $53.2 billion at current prices, accumulated through 113 separate purchases, making it the world’s largest corporate Bitcoin holder. Meanwhile, investor optimism around another potential acquisition helped lift MSTR stock, which was trading at $100.77, a 7.9% gain. 

Bitcoin ETF bleeds again 

However, the continued outflows from spot Bitcoin ETFs indicate that investors have been withdrawing more money from these funds than they have been investing. 

Since the 15th of May, spot Bitcoin ETFs have largely remained on an outflow streak, with weekly withdrawals peaking at $1.72 billion. Most recently, from the 29th of June to the 2nd of July, the funds recorded another $527 million in net outflows, extending the streak to eight consecutive weeks.

Spot Ethereum ETFs followed a similar trend, posting $13.67 million in net outflows over the same period. In contrast, spot ETFs tied to SOL, XRP, and HYPE continued to attract fresh capital, recording net inflows of $5.75 million, $17.19 million, and $4.32 million, respectively.

Final Summary

• Michael Saylor’s Strategy has made another Bitcoin tease, but the Bitcoin ETF outflow streak is raising concerns.
• The spot volume of tokenized assets on Solana jumped to $5.7 billion in Q2, further supported by a 30% monthly hike in its price action.