According to data from SoSoValue, as reported by Odaily Planet Daily on July 29th, the crypto market saw a partial rebound, with the NFT sector performing particularly well, rising 8.07% in the last 24 hours. Specifically, Audiera (BEAT) rose 20.20%, while APENFT (NFT) and Pudgy Penguins (PENGU) rose 0.48% and 0.49% respectively. The PayFi sector rose 1.03%, with Trust Wallet (TWT) rising 4.14%. Other sectors also saw gains: CeFi rose 0.90% in the last 24 hours, with OKB (OKB) rising 1.69%; Layer 1 rose 0.43%, with Cardano (ADA) rising 4.98%; Layer 2 rose 0.40%, with Optimism (OP) rising 1.60%; DeFi remained unchanged, with Lighter (LIT) rising 6.06%; and the Meme sector fell 0.10%, but Cheems Token (CHEEMS) rose 10.94%. The crypto sector indices, which reflect the historical performance of the sector, show that the ssiRWA, ssiPayFi, and ssiLayer1 indices rose by 2.07%, 1.43%, and 1.29%, respectively.

Odaily Planet Daily reports that DRW founder and CEO Don Wilson stated in an article that there is a widespread misunderstanding of perpetual futures by the market and regulators. Perpetual contracts are essentially futures contracts without an expiration date. Wilson pointed out that features such as high leverage, automatic deleveraging (ADL), 24/7 trading, and continuous margin settlement are not inherent attributes of perpetual contracts, but rather product mechanisms designed by crypto trading platforms based on digital collateral and real-time margin calculation environments. He stated that the core innovation of perpetual contracts lies in eliminating the need for investors to repeatedly roll over their positions, reducing transaction costs, market impact, and slippage, allowing positions to move closer to the front end of the futures curve. Regarding the regulatory debate in the US about whether perpetual contracts should be classified as futures or swaps, Wilson believes it should be judged based on economic substance. There is no reason for perpetual contracts to be classified as swaps simply because they lack an expiration date; their essence remains that of futures. He called for the wider application of perpetual futures in commodity, securities, and crypto asset markets for price discovery and risk management.

According to Odaily Planet Daily, on July 28th (Eastern Time), Morgan Stanley Solana Trust (ticker symbol MSOL) officially listed on the NYSE Arca, bringing the total number of listed SOL spot ETFs to nine. According to SoSoValue data, MSOL saw zero net inflows on its first day of trading, with a trading volume of $19.03 million and a total net asset value of $1 million. MSOL supports cash creation/redemption, has a management fee of 0.14%, and plans to support the Solana staking yield mechanism. Yesterday, only the Bitwise Solana Staking ETF (BSOL) experienced net outflows, with a single-day net outflow of $18.0734 million, and a current historical total net inflow of $891 million. As of press time, the total net asset value of SOL spot ETFs is $852 million, the SOL net asset ratio is 1.99%, and the historical cumulative net inflow has reached $1.127 billion.

Odaily Planet Daily reports that U.S. Senators Ruben Gallego and Thom Tillis are finalizing a bipartisan ethical counter-proposal regarding the CLARITY Act, which they plan to submit to the White House within days. (Cointelegraph)

Odaily Planet Daily reports that South Korea's Ministry of Finance is internally reviewing measures to stabilize the South Korean stock market. (Jinshi)