Key Developments in Crypto Today
The cryptocurrency market witnessed several major events on July 7, 2026. Bitcoin spot ETFs recorded $265.69 million in net inflows, while the memecoin Bonk plunged 8% following a $20 million treasury hack. Meanwhile, Strategy (formerly MicroStrategy) executed its largest Bitcoin sale to date, divesting 3,588 BTC for $216 million.
Bitcoin ETF Inflows Surge
According to SoSoValue, Bitcoin spot ETFs saw a total net inflow of $265.69 million. BlackRock’s IBIT led the charge with $209.40 million in daily inflows, bringing its historical total to $60.20 billion. Grayscale’s Bitcoin Mini Trust (BTC) followed with $42.25 million, while Grayscale’s GBTC recorded the largest outflow at $44.45 million, pushing its cumulative net outflow to $27.22 billion. The total net asset value of Bitcoin spot ETFs now stands at $77.32 billion, representing 6.04% of the Bitcoin market.
Bonk Falls After $20 Million Treasury Exploit
Bonk slumped on Monday after attackers drained approximately $20 million worth of the memecoin from BonkDAO’s treasury via a malicious governance proposal. The decentralized autonomous organization linked to the Solana-based cryptocurrency confirmed the breach and stated it has traced the wallets involved. BonkDAO is coordinating with major exchanges, bridges, and the Solana Foundation to recover funds, and law enforcement has been notified.
Strategy Sells $216 Million in Bitcoin
Bitcoin treasury firm Strategy sold 3,588 BTC between June 29 and July 5 for $216 million under its newly introduced BTC monetization program. The company stated the program is designed to support dividend payments and strengthen credit quality while maintaining long-term Bitcoin exposure. After the sale, Strategy still holds 843,775 BTC worth approximately $53.88 billion, along with $2.55 billion in USD reserves.
Stellar Network Eyes Protocol 27 Upgrade
Stellar validators are set to vote on the Protocol 27 upgrade, nicknamed “Zipper,” on July 8. The upgrade aims to introduce native authentication delegation, allowing one account to authorize another to act on its behalf. This change simplifies developer access and improves the account authorization system within the XLM ecosystem.
Belgium Warns Six Crypto Platforms
Belgium’s Financial Services and Markets Authority (FSMA) added six crypto platforms to its warning list: Aurum Foundation, Bank Bit, Bithf Pro, Dxago, Global Dynamic Trade, and ZeriaFunding. The regulator stated these firms are operating without authorization under the EU’s Markets in Crypto-Assets (MiCA) framework, which came into full effect on July 1. The warning highlights increased enforcement of the new crypto regulations across Europe.