Movers and Shakers July 2026

This content is informational only and does not constitute investment advice.

Each month, we highlight digital assets whose trading markets are approaching the criteria for inclusion in our pricing and market data coverage, based on the Coin Metrics Market Selection Framework and Trusted Volume Framework. These frameworks help assess whether an asset has sufficient real trading activity and dependable data across exchanges to make it suitable for standardized market analysis.

Market Selection Framework: This framework is a process used to evaluate whether a particular spot market (a traded asset pair on a specific exchange) reflects trading activity in a transparent and representative manner. Constituent markets approved through this process are used as inputs for Coin Metrics prices. 

Trusted Volume Framework: This framework evaluates exchanges to assess whether the volume observed reflects genuine market participation versus artificial or low-quality activity, measuring dependability using observable metrics such as transparency, resilience, security, data quality, API quality and regulatory compliance. Talos uses this framework to select venues for inclusion in Coin Metrics’s  data offerings. 

This Month’s Movers & Shakers

Below are the protocols whose trading markets are expected to meet the criteria of both frameworks during the month of July 2026.

Zama (ZAMA)

What it is: Zama (ZAMA) is a compute and private storage protocol enabling confidential asset trading on existing public blockchains.

How it works:

• Zama uses Fully Homomorphic Encryption (FHE) technology to support the issuance and management of assets to then be transacted with privacy.  
• Developers deploy applications with the Zama programming library to add confidentiality benefits. Applications such as payroll, RWA tokenization, and corporate payments can remain confidential on public networks.
• Validators executing transactions protect data and digital identities using a combination of FHE technology, Multi-Party Computation (MPC), and Zero-Knowledge Proofs.

Token utility:

• ZAMA tokens are used to pay for encrypting and decrypting transaction activity. ZAMA can be staked with protocol operators to earn additional rewards and participate in governance proposals.
• ZAMA tokens use the LayerZero OFT Standard, supporting cross-chain transfers and application development across blockchains.

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^{Disclaimer: The information herein is provided for informational purposes only. Talos Trading, LLC and its affiliates (“Talos”) does not give any representations or warranties in relation to the accuracy, validity, or completeness of the information of this material, including without limitation the factual information obtained from publicly available sources considered by Talos to be reliable at the time. Talos accepts no liability for any consequences of using the information contained in this material. Any opinions or estimates expressed herein reflect a judgment made by the author(s) as of the date of publication and are subject to change without notice. Neither this material nor any copy thereof may be taken, reproduced, or redistributed, directly or indirectly, without Talos’s prior written permission. Any views or opinions expressed are those of the authors and do not necessarily reflect the views of Talos. This communication does not constitute an offer to buy or sell, or a promotion or recommendation of, any digital asset, security, derivative, commodity, financial instrument, or product or trading strategy. This document and information are not intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.}

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