Magnet Web3 Digest here: your weekly snapshot of what’s actually moving markets in Web3. Regulators aren’t fighting anymore; they’re integrating. Ethereum quietly outpaced Bitcoin. NFTs are roaring back. Influencers are losing immunity. Hackers netted seven-figure scores. Let’s unpack!
The United States is changing its stance on crypto. With “Project Crypto” from the SEC and support from the Trump administration, regulators are pivoting from enforcement to structured integration. The Genius Act, now signed into law, lays down the first federal framework for stablecoins, mandating full reserves and regular audits. The Clarity Act and tokenized securities guidelines are also gaining traction. It’s no longer about shutting down Web3 — it’s about fitting it into the financial system without killing its spirit.
Ethereum has overtaken Bitcoin in both spot and futures trading for the first time since 2022. Glassnode data shows that ETH now leads in derivatives volume, while CryptoQuant reports $25.7B in ETH spot trades last week, beating Bitcoin’s $24.4B. Some see this as a shift in institutional focus toward more agile L1 platforms, especially with Ethereum rolling out its next-gen scaling upgrades. It’s not just narrative anymore, liquidity is moving too.
NFTs are heating up again. Weekly sales volume jumped to $221.5M, up 41%, marking a 2025 high, according to Crypto.News. Surprisingly, OG collections like CryptoPunks are leading the charge with a 590% spike in activity, despite falling floor prices. Analysts suggest a fresh wave of hype-driven trading is back, fuelled by emotional plays and renewed attention on Solana and Blast NFTs. Whether this is a full-cycle return or just a sugar rush, time will tell.
Regulators are coming for Web3’s loudest voices. After multiple pump-and-dump exposés, influencers who promoted tokens without disclosing paid partnerships are now facing the possibility of civil and even criminal liability. Cointelegraph and Decrypt report growing momentum for policies enforcing ad disclosure and onchain transparency. If you’re shilling tokens without saying it’s sponsored, you may be next. The age of “undisclosed hype” may be coming to an end.
Crypto lost $142 million to hacks and exploits in July, a 27% increase over June, per PeckShield. The biggest blow came from Indian exchange CoinDCX, which saw $44M drained in a sophisticated attack. In total, 17 major incidents were recorded, including insider leaks, contract vulnerabilities, and social engineering. As attack methods grow more advanced, even well-funded players are proving vulnerable. Security remains the elephant in the Web3 room.
