While most of the market watched Big Tech catch its breath, a few unexpected players took the spotlight. Reddit posted real earnings growth, the housing market showed signs of life, and DeFi platforms quietly rallied.

Let’s dig in:

Reddit surprised nearly everyone with a strong Q2: ad revenue jumped 17%, and premium subscriptions rose faster than expected. But the real kicker? Their data licensing deals, including one with OpenAI, are starting to matter.

For the first time since going public, Reddit feels like a real business. Investors noticed. Shares jumped 12% after hours.

After a sluggish spring, July home sales finally turned a corner. With mortgage rates easing just enough to coax buyers off the sidelines, several key markets, including Tampa, Raleigh, and Phoenix, saw bidding wars reappear.

It’s far from a boom, but after months of stagnation, even a small pulse feels like momentum.

While centralized crypto platforms tread water, DeFi platforms are quietly waking up. Total value locked rose 6% overnight, with renewed volume on protocols like Uniswap and Aave.

The drop in ETH gas fees is helping, but so is investor fatigue with waiting on regulatory clarity. On-chain is looking attractive again, even if it’s not yet loud about it.

Tech took a breather, and the underdogs ran with it. Reddit’s legit. Housing isn’t frozen. And DeFi? It’s not dead, just pacing its comeback.

More moves like this, and the market could finally feel balanced again.