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Token Watch, operated by Token Post, has launched a new "Interactive Relationship Graph" feature. This tool visually maps the connections between cryptocurrency projects listed on the Korean Won market, their investors, and key individuals. The graph allows users to explore investment backgrounds, see which investors co-invest in other projects, and track the past and present affiliations of core team members. Key features include the ability to filter by project, investor, or person, and to view different relationship types: general investment, lead investment, current affiliation, and past affiliation. A focus mode lets users isolate connections within two degrees of a selected node for clearer analysis. The graph is designed to help users identify co-investors, frequent VC partnerships, investor overlap between competing projects, and recurring key figures across the ecosystem. The underlying data for investors and individuals is sourced from RootData, with some verification by the Token Post editorial team. The web-based tool is available in both Korean and English. Token Watch emphasizes that the information is for reference and analysis purposes only and does not constitute investment advice.

Weekly Data Recap: S&P Pantera Index Launches, Robinhood Chain Volume Ranks Fourth This week saw a mixed performance for risk assets amidst internal reshuffling. Bitcoin closed slightly down at $64,444, while Ethereum gained 0.6%. A key development was the launch of the S&P Pantera Digital Assets Index (SPPDA), co-created by S&P Dow Jones Indices and Pantera Capital. This 18-token benchmark index, powered by Artemis's revenue and supply data, filters for protocols with actual revenue and weights constituents by market cap. Notably, Bitcoin and XRP were excluded due to the revenue requirement. Meanwhile, Robinhood Chain, an Arbitrum Orbit L2 launched on July 1st, surged to become the fourth-largest chain by DEX volume with $4.7B weekly trading. However, analysis reveals a gap between its intended purpose and current reality. While marketed for tokenizing real-world assets (RWAs) like stocks, the chain is currently dominated by memecoin trading, accounting for ~75% of DEX volume. Robinhood's own stock tokens represent only 4.2% of the chain's $595M TVL, with 70% locked in third-party protocols like Morpho and Ethena. Uniswap commands a near-monopoly (98%) on the DEX layer. The launchpad pons.family captured most activity, generating fees roughly five times the chain's total gas fees. Robinhood currently earns basic transaction fees, while third-party applications capture significant economic value, illustrating a "fat app, skinny chain" dynamic. Other notable developments include Hyperliquid's open interest hitting a record $11.4B, consistent weekly inflows into Ethereum ETFs (~$104M), and the end of a six-week outflow streak for Bitcoin ETFs. Regulatory news included the LSE announcing a 24/5 trading venue and the SEC scheduling a roundtable on 24-hour stock trading, while the GENIUS Act's implementation was delayed to 2027.

**How Much Did the 2026 World Cup Boost Prediction Markets? A Data Review.** The 2026 World Cup provided a major, temporary boost to leading prediction markets, according to an analysis of Kalshi, Polymarket, and predict.fun. During the tournament, total nominal trading volume reached $543.38 billion on Kalshi, $209.88 billion on Polymarket, and $10.92 billion on predict.fun. While Kalshi maintained an overall lead, Polymarket narrowed the gap significantly in World Cup-specific markets. All platforms saw daily trading volumes roughly double or more during the event compared to pre-tournament levels, but activity largely retreated to baseline shortly after the final. Fee revenue also surged. Kalshi's weekly fees peaked at over $100 million in the fourth week, totaling $473.2 million for the tournament. Polymarket's weekly fees stabilized around $20 million, totaling $111.4 million. Predict.fun saw its weekly fee income rise from a pre-tournament $159k to a peak of $755k, with a six-week total of $3.48 million. Post-tournament, daily fee income declined for all three. Analysis of Total Value Locked (TVL) showed Polymarket's deposits remained flat around $4.4-$4.8 billion during the World Cup and later fell, suggesting the event spurred high-frequency trading but not long-term capital commitment. In contrast, predict.fun's TVL saw a clear inflow during the tournament's knockout stages, rising to a peak near $25 million before easing. The data confirms that mega-sports events can generate massive, concentrated trading volume and revenue for prediction platforms. However, the post-tournament pullback indicates this growth is largely event-driven and doesn't automatically translate into sustained higher activity. The World Cup validated sports as a core trading category and helped users develop repeated trading habits, setting the stage for the next phase of competition focused on user retention and creating consistent trading demand.

South Korean conglomerates POSCO International and LG CNS have launched a pilot project to tokenize real trade accounts receivable on the Injective blockchain, using actual commercial data from POSCO's overseas subsidiaries. POSCO International, a major trading firm with over $22 billion in revenue, and LG CNS, a leading IT services provider, are testing this as an advanced real-world asset (RWA) initiative in Korea. The pilot issues POSCO's receivables as permissioned tokens on Injective. Authorized parties can hold and transfer these assets, with settlements executed on-chain. This moves away from the current fragmented tracking by subsidiaries, banks, and counterparties—which slows reconciliation and delays cash access—to a single shared ledger. Compliance rules are embedded with the tokens, enabling uniform checks across jurisdictions. Injective was chosen for its native real-world asset module, which enforces regulatory compliance at the protocol level. Its fast transaction finality (under one second per block) and built-in order book designed to prevent front-running were cited as essential for tokenizing real monetary claims. The companies aim to build a unified infrastructure for inter-subsidiary trade, enabling faster settlements than the current multi-day cycle and border-agnostic compliance. POSCO plans to refine the pilot structure in the second half of the year for real business application. This project is part of a global acceleration in enterprise tokenization, with Korea being a particularly active market.

Institutional Investors Shift Directions: Data Reveals Bitcoin Outflows and Rotation into Altcoins Amidst ongoing volatility in Bitcoin and altcoin prices, a notable shift in capital flows within spot ETFs has emerged. US spot Bitcoin ETFs have experienced net outflows for three consecutive days. On July 27th, data from Farside Investors showed net outflows of approximately $11.6 million from these funds, primarily led by BlackRock's IBIT ($8.8M) and Fidelity's FBTC ($2.8M). However, the pace of outflows is slowing. Conversely, the Ethereum ETF segment saw a reversal, with a net inflow of roughly $11.7 million on the same day. This entire inflow was attributed to BlackRock's ETHA fund. In the broader altcoin ETF space, spot Solana ETFs recorded a net inflow of $1 million, while the HYPE ETF saw a $2.9 million outflow. XRP ETFs showed no significant activity. This data suggests a potential rotation of institutional capital from Bitcoin towards Ethereum and select altcoins like Solana. *This is not investment advice.