The $81 million Ethereum purchase landed after the asset had already climbed 30% in a week. Buying after a move that sharp is usually the kind of behavior associated with momentum traders, not corporate treasuries. Tom Lee’s Bitmine did it anyway, recording its largest weekly ETH allocation since early July.
According to the original report, Lee said the weekly rally could signal a larger move ahead. That is a meaningful distinction. A desk that viewed the bounce as noise would more likely wait for consolidation. Bitmine increased exposure into strength instead.
A bigger Ethereum trade The buy is notable less for its dollar size than for the signal it sends about how treasury operators are treating ETH. An $81 million weekly addition is not going to move the global ether market on its own. But the pace of buying matters, especially after a period when activity had slowed since early July.
Bitmine’s position shows that some buyers are treating Ethereum as a balance-sheet asset rather than a pure trading vehicle. The network remains the dominant environment for developers and settlement volume, even as competitors have made inroads. BlockchainReporter’s Top 10 Blockchains by Developer Activity This Week puts Ethereum at the center of ongoing contract and tooling work, which tends to anchor longer-duration capital.
Institutional flows and the Ethereum bid The timing also lines up with a broader push of on-chain capital into assets that can produce or settle value without traditional intermediaries. Tokenized treasury products and real-world asset experiments have absorbed institutional attention, as covered in BlockchainReporter’s Weekly Tokenization Roundup. Ether occupies a different role from those instruments, but the demand logic is related: institutions are looking for native crypto exposure that has a network effect behind it.
That does not make the case risk-free. US policy remains a wildcard for any firm holding crypto on balance sheet. The Senate fight over a major crypto bill has shown how quickly the regulatory consensus can fray, as detailed in BlockchainReporter’s coverage of the banking opposition to the legislation. Bitmine has moved before those rules are settled.
For traders, the more important question is not whether Bitmine has spot demand but whether other corporate buyers will follow. Ether’s liquidity is deep enough that a single treasury purchase rarely dictates direction, but repeated institutional bids can tighten available float around psychologically important levels. That was the pattern in previous cycles when treasury announcements attracted more attention than the actual flow.
What remains unresolved Lee’s comment about a larger move is an expectation, not a guarantee. A 30% weekly rally can compress the risk-reward for new buyers even if the longer-term view is intact. Bitmine may be indicating conviction, or it may be adding exposure as part of a predetermined dollar-cost program that happened to align with the price move. The source material does not specify whether the firm will continue adding at this pace.
What the market will watch next is whether the buying continues after the weekly candle closes. Treasury operators tend to reveal their time horizon through follow-through. If Bitmine returns with another large weekly allocation, the trade becomes more than a one-off signal. If the pace drops, the $81 million buy may end up looking like a reaction to short-term momentum rather than a structural shift.
AUTHOR
Entrepreneur and freelance writer based in Nakuru, Kenya. I cover cryptocurrency, the Blockchain technology, and financial topics. It’s my joy to transform the simplest phrases in a way they reach a reader’s heart to help them discover how crypto is disrupting the world as we have known it. I believe in transforming the world, one word at a time.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin (CRYPTO: BTC) could extend its explosive rally toward $90,000 as traders see a shift from low-volatility consolidation to a momentum-driven market.
Why Bitcoin’s Breakout Could Have LegsSpeaking on the Aug. 22 episode of Technical Roundup, prominent trader DonAlt said Bitcoin’s breakout was preceded by repeated tests of weekly resistance after bouncing from monthly support.
More importantly, bearish catalysts repeatedly failed to push Bitcoin meaningfully lower, which he viewed as evidence of seller exhaustion.
Analyst Cred added that while the initial breakout was heavily influenced by short liquidations, Bitcoin continued climbing even as liquidations slowed.
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He interpreted that as evidence that fresh buying demand had replaced forced short covering as the rally’s primary driver.
That distinction matters because rallies fueled exclusively by liquidations can quickly reverse once shorts are cleared. Continued spot demand, on the other hand, could support a more durable move.
DonAlt sees Bitcoin holding a bullish structure above $72,000 to $73,000, while a drop below $70,000 could weaken momentum.
While $65,000 to $66,000 would threaten the breakout, he targets $89,000 to $94,000 on the upside before an orderly correction.
Why Ethereum Could Lead BTC Higher?DonAlt is also increasingly bullish on Ethereum (CRYPTO: ETH), which he believes is displaying stronger relative price action than Bitcoin.
Ethereum has bounced from its long-term range support around $1,600 to $1,700 and pushed through major resistance around $1,950 to $2,250.
A weekly close above roughly $2,300 would strengthen the breakout, according to DonAlt.
"ETH is realistically leading," DonAlt said, noting that Ethereum has already broken resistance that Bitcoin is still confronting.
He added that historically, Ethereum breaking resistance ahead of Bitcoin has sometimes increased the probability of Bitcoin subsequently following through.
DonAlt’s primary ETH target is therefore around $4,000, where he plans to reassess whether it can mount a sustainable breakout toward new highs.
US spot Bitcoin and Ethereum ETFs recorded a combined $492 million in net inflows for the August 21 session, extending a positive flow streak across both crypto ETF cohorts.
Farside Investors data showed spot Bitcoin ETFs adding $307 million, led by BlackRock’s IBIT with $239.3 million. Spot Ethereum ETFs brought in another $185 million, led by BlackRock’s ETHA with $151 million.
The August 21 session marked the fifth consecutive positive trading day for both groups, according to the flow data. Weekly inflows reached $1.92 billion for Bitcoin ETFs and $697 million for Ethereum ETFs.
That is a strong regulated-demand signal.
But the numbers should be read carefully: these are daily and weekly net-flow figures, not cumulative assets under management.
TL;DR Spot Bitcoin ETFs recorded $307 million in net inflows on August 21. Spot Ethereum ETFs added $185 million. Combined inflows reached $492 million, extending a five-day positive streak. ETF Flows Keep Supporting The Rally ETF demand has become one of the cleanest ways to track regulated crypto appetite.
When spot Bitcoin ETFs take in hundreds of millions of dollars in a session, it suggests traditional-market investors are adding exposure through familiar brokerage channels. When Ethereum ETFs also attract capital, the signal broadens beyond BTC alone.
That is what happened on August 21.
Bitcoin led the day, but Ethereum’s $185 million inflow was large enough to show that investors were not limiting themselves to the simplest crypto allocation.
The market likes that combination.
BlackRock Still Dominates Both Categories BlackRock led both ETF groups.
IBIT brought in $239.3 million for spot Bitcoin ETFs, while ETHA led Ethereum products with $151 million. That reinforces BlackRock’s role as the dominant institutional gateway in the crypto ETF market.
This matters because scale attracts more scale.
Large funds tend to offer deeper liquidity, tighter spreads, more investor confidence, and stronger distribution. Once a product becomes the default vehicle, it can keep pulling in flows even as competitors fight for attention.
That dynamic is now visible in both Bitcoin and Ethereum ETFs.
The Five-Day Streak Is Important One strong day can be noise.
Five consecutive positive sessions across both Bitcoin and Ethereum ETFs is harder to dismiss. It suggests investors were adding exposure consistently rather than making a one-off allocation.
That can help strengthen the market’s foundation.
A rally driven only by short liquidations can fade. A rally supported by multiple sessions of ETF inflows has a stronger demand backdrop.
Still, flow streaks can end quickly. Investors should not assume the next week will automatically look the same.
Daily And Weekly Figures Need Precision The $492 million figure is the combined net inflow for one session.
The $1.92 billion Bitcoin figure and $697 million Ethereum figure are weekly inflow totals. None of these numbers should be confused with cumulative assets under management or lifetime ETF flows.
This distinction matters because ETF headlines often blur timeframes.
Daily flows show immediate demand. Weekly flows show momentum across several sessions. Cumulative assets show longer-term product scale.
Each tells a different story.
What To Watch Next The next test is whether inflows continue as price volatility returns.
If Bitcoin and Ethereum ETFs keep taking in capital during pullbacks, that would suggest more durable institutional demand. If flows reverse quickly, the current streak may look like a momentum-driven allocation window.
Traders will also watch whether Ethereum continues to keep pace with Bitcoin.
BTC remains the larger institutional product, but ETH’s participation matters for the broader market. Strong ETH flows can support DeFi, staking, tokenization, and smart-contract narratives.
For now, the ETF data remains constructive.
Bitcoin and Ethereum funds are both pulling in capital, and the latest combined session adds another layer of support to the market’s risk-on move.
This article is based on public ETF flow data from Farside Investors.
This article was written by the News Desk and edited by Samuel Rae.
Quantum computing is still mostly a theoretical threat to crypto wallets. But the cryptography community isn’t waiting around to find out exactly when “theoretical” becomes “Tuesday.” NIST published its first finalized post-quantum cryptography standards in August 2024, and Ledger CTO Charles Guillemet has been walking through what those standards actually mean for Bitcoin, Ethereum, and the hardware security world his company operates in.
Two standards, two philosophies NIST’s August 2024 announcement formalized two digital signature schemes that matter most here. The first is ML-DSA, published as FIPS 204 and based on the CRYSTALS-Dilithium algorithm. It’s a lattice-based approach, meaning its security relies on the computational hardness of certain geometric problems in high-dimensional space.
The second is SLH-DSA, published as FIPS 205 and built on Sphincs+. This one takes a more conservative route: its security is grounded entirely in hash functions, the same cryptographic primitives that have been battle-tested for decades across computing. No novel mathematical assumptions required. The tradeoff is that Sphincs+ produces larger signatures, which matters a lot when you’re paying per byte on a blockchain.
Guillemet noted that ML-DSA has become the go-to choice in sectors outside of blockchain. Bitcoin and Ethereum, however, are leaning toward SLH-DSA. Sphincs+ doesn’t ask developers to trust any new mathematical hardness assumption. Its security chain runs back to hash functions like SHA-256 and SHAKE, tools that the Bitcoin and Ethereum communities have trusted since day one.
Why the divergence matters Bitcoin currently uses the secp256k1 elliptic curve for signatures. Ethereum uses a similar elliptic curve scheme. Both are efficient and well-understood, but a sufficiently powerful quantum computer running Shor’s algorithm could theoretically break elliptic curve cryptography by recovering private keys from public keys.
Ethereum researchers in mid-2026 have been exploring optimized Sphincs+ variants specifically designed to make verification more tractable within the Ethereum Virtual Machine. The challenge is that Sphincs+ signatures are substantially larger than what current blockchain transactions carry, which affects storage costs, bandwidth, and the economic math of running a node.
Ledger’s implementation timeline For Ledger, this isn’t a distant horizon problem. The company’s security team is actively working on integrating post-quantum cryptography into its hardware wallet firmware, targeting secure software elements specifically. Guillemet has indicated that Ledger plans to ship firmware support for both ML-KEM, the post-quantum key encapsulation mechanism, and ML-DSA by the end of June 2026.
ML-KEM handles key exchange, while ML-DSA handles signatures. Together they represent a reasonably complete post-quantum security posture for a hardware wallet, covering both the channel through which a device communicates and the authentication layer that proves a transaction came from the right person.
The transition also raises practical questions for existing wallet holders. Migration to post-quantum schemes will likely require users to move funds to new addresses generated under new cryptographic standards, similar to how early Bitcoin users moved from uncompressed to compressed public keys.
Ethereum’s ongoing research into EVM-compatible Sphincs+ verification is the practical test of whether the efficiency gap can be closed enough to make hash-based signatures viable at scale.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Ethereum [ETH] was trading around $2452 at press time, up 2.69% on daily charts, extending its 29% weekly gains. Since rising to $2546, Ethereum has cooled down, and the trend seems to be consolidating again. The altcoin has hovered between $2.4k and $2.5k.
Amid this market shift, both individuals and institutions have strategically positioned themselves, while others have cashed out.
Abraxas Capital adds $173 million worth of ETH Abraxas Capital has been aggressively shorting the market. Although the price skyrocketed recently, the entity seems to be expecting another pullback.
As a result, the firm has built $783 million in short positions on Hyperliquid. However, understanding the risk with such elevated leverage, it has turned to hedging on the Spot.
Source: Lookonchain According to Lookonchain, Abraxas Capital purchased 73,872 ETH worth $173.17 million from Binance over the past four days.
The move indicated sophisticated risk management, hoping one side could absorb risk from another. Often spot buys of such magnitude raise demand, which in turn absorbs the arising market pressure.
Why is Ethereum still under pressure? Interestingly, as the market rebounded, holders who have been underwater have increased spending significantly.
On Binance, for example, the netflow has remained positive for five consecutive days. Exchange Netflow across all exchanges also remained positive for two consecutive days, currently around 2.3k.
Source: CryptoQuant A sustained positive netflow suggests that traders have been mostly selling. Often such market behavior has weakened the market structure and led to poor price actions.
The continued rising exchange inflows have significantly increased the supply available for immediate selling. In fact, Exchange Supply Ratio on Binance climbed to a monthly high of 0.0328.
Source: CryptoQuant The rising ESR confirms that more traders are now selling more ETH than those buying. Under such circumstances, Ethereum remains stretched.
What’s next for ETH? While sellers remain active on exchanges, it seems their pressure is not strong. The demand from major buyers such as Abraxas Capital is absorbing the pressure, leaving the market at a state of equilibrium.
The tensions between ETH bulls and bears explain the recent sideways movement. Besides that, the market structure leans bullish, with the uptrend still strong.
Source: TradingView The MACD holds within an upward trajectory, hitting levels last seen in August 2025. At 149, MACD suggest a strong bullish momentum.
The ADX Trend indicator confirms this trend momentum, with +DI around 12 while the D- was at -22, leaving a contraction/expansion of 35.
These indicators suggest Ethereum is likely to breach the current range and target $2.8k. However, if selling persists, ETH could fail to hold $2.4k and fall to $2.2k.
Final Summary Abraxas Capital purchased 73,872 ETH worth $173.17 million from Binance over the past 4 days. Ethereum is experiencing strong pressure, but the trend leans bullish and is likely to continue, with $2.8k as the next target.
BitMine Immersion Technologies owns 5,847,611 ether. That is 4.79% of every ether in existence, and a tighter grip on Ethereum than Michael Saylor has ever held on Bitcoin.
Chairman Tom Lee told the Bankless podcast the company could reach its 5% goal before the end of 2026. The math is harder than it looks.
BitMine Built Its Ethereum Stack in 14 MonthsSaylor’s firm, MicroStrategy, took six years to gather 840,447 Bitcoin. That comes to 4.19% of the coins in circulation.
BitMine passed that share of ether in 14 months. It made its first purchase on June 30, 2025, and has bought every week since. Sixty weeks, no gaps.
Ethereum Treasury Holdings. Source: CoingeckoLee credits a plain balance sheet. BitMine paid for the stack with common stock, not loans or convertible notes. Several rival treasuries leaned on those tools and did not survive the downturn.
Ether traded near $2,480 on Monday, up 1% on the day. It rose about 30% last week, its best week since May 2025. BitMine used the rally for its largest weekly ETH purchase since early July.
“It’s about $350 million worth of ETH that we need to acquire to reach 5%… we could reach it by the end of the year,” Tom Lee, chairman of BitMine Immersion Technologies, speaking on Bankless.
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The 5% Finish Line Keeps MovingHere is the catch. Ether supply is not fixed, and right now it is growing. The network has added 85,893 ether over the past 30 days.
Total supply now sits at 121.98 million. That is about 1.3 million higher than the figure BitMine’s own disclosures use.
Ethereum Supply. Source: Ultrasound MoneyThat gap matters because a true 5% means 6.1 million ether. BitMine is about 251,000 tokens short, worth roughly $620 million at Monday’s price. Lee’s $350 million estimate was made before ether’s rally.
What Comes After 5%Lee rules out selling. BitMine has staked most of its ether, and those 5.07 million tokens generate about $330 million a year. That alone is roughly 12% of all staked ether on the network.
The yield covers the dividend on BMNP. That is a 9.5% preferred stock BitMine sold in June at $80, against a $100 liquidation value. Lee calls it a cheap three-year call option on ether.
The company is also turning into an Ethereum operator. Its validator arm MAVAN, short for Made in America Validator Network, launched in March.
BitMine then helped anchor three groups spun out of the Ethereum Foundation, alongside SharpLink and Ethereum co-founder Joe Lubin.
Lee ties the long-term case to tokenization and artificial intelligence rather than stablecoins. On that Wall Street adoption thesis, he named a number.
“I think Ethereum could easily be over 10,000 in that time frame.”
No listed rival is close. SharpLink, the next largest ether treasury, holds 888,938 tokens, about one-seventh of BitMine’s pile. The real contest is not with them. It is with a supply schedule that keeps printing.
Ethereum price today: $2,480BitMine acquired 32,447 ETH last week, lifting its holdings to 5.847 million ETH.Chairman Thomas Lee hinted that ETH could see further gains, similar to its moves after +30% rallies in May 2025 and July 2026.ETH's rally has slowed above $2,400.Ethereum (ETH) treasury company BitMine Immersion Technologies (BMNR) expanded its digital asset holdings last week with another round of acquisitions.
The firm purchased 32,447 ETH during the week, lifting its holdings to 5.847 million ETH. That represents its largest purchase since the first week of July.
The move comes after ETH registered a 30% gain last week, marking its biggest weekly gain since May 2025. The last +30% gain before that was in July 2021.
"In those two precedent instances, this weekly gain of >30% signaled a launch point for a larger move in ETH. In July 2021, ETH subsequently gained +167% and after May 2025, ETH gained +170%," said BitMine Chairman Thomas Lee in a Monday statement. "We expect easing financial conditions to be a tailwind for crypto."
ETH weekly performance since 2021. Source: BitMineLee also reiterated that tokenization and agentic AI on blockchains could drive a rally in the ETH/BTC ratio in the upcoming crypto cycle, similar to how ICOs, NFTs and stablecoins did in 2017, 2021 and 2025, respectively.
BitMine also maintained a 5.067 million ETH stake across its staking platform Made in America Validator Network (MAVAN), with a projected annualized yield of $330 million.
Meanwhile, US spot ETH exchange-traded funds (ETFs) recorded their best week since last October, after recording $697 million in net inflows last week, per SoSoValue data.
ETH ETF Flows. Source: SoSoValueBlackRock's iShares Ethereum Trust (ETHA) dominated flows, pulling in $536.8 million last week.
Ethereum Price Forecast: ETH rally slows above $2,400Ethereum has experienced $108.8 million in liquidations over the past 24 hours, led by $68.3 million in short liquidations, according to Coinglass data.
On the daily chart, ETH is extending a bullish near-term bias as price holds above a dense layer of Exponential Moving Averages (EMAs). The 20-, 50-, 100- and 200-day EMAs between roughly $1,975 and $2,140 underpin the advance, while nearby horizontal support at $2,431 reinforces the breakout from the prior range.
Momentum is stretched, with the 14-day Relative Strength Index (RSI) at 79 and the Stochastic at 89, hinting at overbought conditions that could slow the rally rather than reverse it immediately.
ETH/USDT daily chartOn the downside, initial support is seen at $2,431, followed by the current cluster of medium-term EMAs and horizontal levels at $2,172, $2,140 and $2,128, before deeper support emerges around $1,986–$1,961.
On the topside, ETH faces its next resistance at $2,678, ahead of a higher barrier at $2,865, where a pause or consolidation would be likely if bulls extend the run further into overbought territory.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Arthur Hayes: Maelstrom is fully invested in risk assets, with Bitcoin, Ethereum, and others as core bets.
Arthur Hayes published a post noting that his Maelstrom Fund is currently at "maximum risk exposure", with core bets on Bitcoin, Ether, Ethena, and Ether.fi. Hayes argues that whether U.S. Treasury Secretary Bessent increases U.S. dollar liquidity rapidly or gradually, Bitcoin will keep rising, though market volatility will also spike. As such, he advises against using leverage unless one is a full-time trader. Hayes also pointed out that Bessent’s recent move to expand long-term U.S. Treasury repurchase operations could further boost U.S. dollar liquidity, lifting Bitcoin and other risk assets. He projects that if U.S. Treasury yields approach 5% again, the U.S. Treasury may further expand repurchase volumes or take other steps to increase U.S. dollar liquidity.
25 minutes ago
Binance Alpha will roll out Teller first on August 26, with eligible users able to claim the airdrop.
According to official announcements, Binance Alpha will be the first to list Teller (TELLER) on August 26. Eligible users can visit the Binance Alpha event page to claim the airdrop using Binance Alpha points once trading opens, with specific airdrop details to be announced later.
25 minutes ago
Bitcoin mining company Metaplanet deposited 1,000 Bitcoin into Coinbase Prime one hour ago.
According to Lookonchain’s monitoring, Bitcoin mining firm Metaplanet deposited 1,000 BTC into Coinbase Prime an hour ago, valued at roughly $79.77 million. Earlier, the company purchased 43,000 BTC at an average price of $96,191, totaling approximately $3.48 billion.
25 minutes ago
Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million.
According to monitoring by @EmberCN, 10 minutes ago, Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million based on the price at that time.
25 minutes ago
Two whales plan to short $42.2 million worth of HYPE.
According to monitoring by TradingBeats (formerly Hyperinsight), two HYPE whales placed 509 non-"position-reduction-only" sell orders earlier today at higher price levels. They still plan to sell roughly 449,500 HYPE tokens, with a nominal value of around $42.226 million, at a weighted average order price of $93.94. The two sets of orders were created less than two minutes apart, but no data yet links the two addresses. The "US stock market winner" whale tracked yesterday (starting with 0x4e23) held 152,800 HYPE long positions as of yesterday and has now fully closed them for profit. Earlier today, it re-placed 24 sell orders within one minute, planning to short 327,300 HYPE tokens in the $90.385–$104.68 range, with a nominal value of about $31.5 million and a weighted average price of $96.25. Another whale starting with 0xf02d has already shorted 391,100 HYPE tokens, with a position value of ~$31.29 million, an average entry price of $75.92, and an unrealized loss of around $1.598 million. This address also placed 485 additional short orders in the $80.409–$99 range today, with a remaining planned short of 122,200 HYPE tokens (nominal value ~$10.726 million). The lowest tier of these orders is only ~0.5% away from the current price, and some have already started executing.
25 minutes ago
Maji opens $113 million worth of BTC and ETH long positions, account balance surges nearly 200 times.
According to Lookonchain’s monitoring, "Maji" (@machibigbrother) was once liquidated to the point where his account held less than $60,000. His account balance has since surged nearly 200 times, and he has opened long positions worth $113 million in Bitcoin (BTC) and Ethereum (ETH), including 23,350 ETH valued at $59 million and 668 BTC worth $54 million.
PANews reported on August 25 that, according to SoSoValue data, affected by combined factors including Bessent possibly deploying nearly $1 trillion in the TGA to buy bonds and the United States expanding economic sanctions against Iran, crypto market sectors resumed their upward trend. The Layer 2 sector stood out, rising 3.02% in 24 hours, with Polygon (POL) up 8.50%, Stacks (STX) up 4.76%, and Mantle (MNT) up 2.82%. Meanwhile, Bitcoin (BTC) rose 3.22%, touching $80,000 during the session; Ethereum (ETH) rose 2.38%, breaking back above $2,500 during the session.
In other sectors, the Layer 1 sector rose 2.21% in 24 hours, with Solana (SOL) up 6.14%; the CeFi sector rose 2.08%, with OKB (OKB) up 6.49%; the PayFi sector rose 1.97%, with Telcoin (TEL) up 7.81%; the Meme sector rose 0.44%, with dogwifhat (WIF) up 5.80%.
In addition, the DeFi sector fell 0.27%, but Ondo Finance (ONDO) was relatively resilient, rising 5.80%.
Arthur Hayes: Maelstrom is fully invested in risk assets, with Bitcoin, Ethereum, and others as core bets.
Arthur Hayes published a post noting that his Maelstrom Fund is currently at "maximum risk exposure", with core bets on Bitcoin, Ether, Ethena, and Ether.fi. Hayes argues that whether U.S. Treasury Secretary Bessent increases U.S. dollar liquidity rapidly or gradually, Bitcoin will keep rising, though market volatility will also spike. As such, he advises against using leverage unless one is a full-time trader. Hayes also pointed out that Bessent’s recent move to expand long-term U.S. Treasury repurchase operations could further boost U.S. dollar liquidity, lifting Bitcoin and other risk assets. He projects that if U.S. Treasury yields approach 5% again, the U.S. Treasury may further expand repurchase volumes or take other steps to increase U.S. dollar liquidity.
25 minutes ago
Binance Alpha will roll out Teller first on August 26, with eligible users able to claim the airdrop.
According to official announcements, Binance Alpha will be the first to list Teller (TELLER) on August 26. Eligible users can visit the Binance Alpha event page to claim the airdrop using Binance Alpha points once trading opens, with specific airdrop details to be announced later.
25 minutes ago
Bitcoin mining company Metaplanet deposited 1,000 Bitcoin into Coinbase Prime one hour ago.
According to Lookonchain’s monitoring, Bitcoin mining firm Metaplanet deposited 1,000 BTC into Coinbase Prime an hour ago, valued at roughly $79.77 million. Earlier, the company purchased 43,000 BTC at an average price of $96,191, totaling approximately $3.48 billion.
25 minutes ago
Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million.
According to monitoring by @EmberCN, 10 minutes ago, Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million based on the price at that time.
25 minutes ago
Two whales plan to short $42.2 million worth of HYPE.
According to monitoring by TradingBeats (formerly Hyperinsight), two HYPE whales placed 509 non-"position-reduction-only" sell orders earlier today at higher price levels. They still plan to sell roughly 449,500 HYPE tokens, with a nominal value of around $42.226 million, at a weighted average order price of $93.94. The two sets of orders were created less than two minutes apart, but no data yet links the two addresses. The "US stock market winner" whale tracked yesterday (starting with 0x4e23) held 152,800 HYPE long positions as of yesterday and has now fully closed them for profit. Earlier today, it re-placed 24 sell orders within one minute, planning to short 327,300 HYPE tokens in the $90.385–$104.68 range, with a nominal value of about $31.5 million and a weighted average price of $96.25. Another whale starting with 0xf02d has already shorted 391,100 HYPE tokens, with a position value of ~$31.29 million, an average entry price of $75.92, and an unrealized loss of around $1.598 million. This address also placed 485 additional short orders in the $80.409–$99 range today, with a remaining planned short of 122,200 HYPE tokens (nominal value ~$10.726 million). The lowest tier of these orders is only ~0.5% away from the current price, and some have already started executing.
25 minutes ago
If BTC rises an additional 2%, a certain whale that shorted $45.22 million yesterday will be forced to liquidate.
According to monitoring by TradingBeats (formerly Hyperinsight), BTC is currently trading at around $80,840, up roughly 4.3% over the past 24 hours. The whale address starting with 0x6046, which opened a large short position yesterday, is now approximately 2.5% away from its liquidation line, making it the largest address on Hyperliquid closest to liquidation at present. The whale shorted 559.4 BTC in batches last night, with an average entry price of $79,318.4. The current value of the short position stands at around $45.218 million, with an unrealized loss of about $851,000, translating to a -38.4% return. It is using 20x full leverage, with a current liquidation price of roughly $82,896.5. A further ~$2,057 (or 2.5%) rise in BTC from its current price would trigger liquidation. As of press time, the whale has not set public stop-loss, take-profit, or position-reduction orders, and still holds the full 559.4 BTC short position. This address is the first active account on Hyperliquid. Yesterday evening, it first received approximately 992,000 USDC from an address starting with 0x6b9e, and began shorting BTC roughly one and a half minutes after the deposit arrived. It later added around 1.6 million USDC as margin in two separate top-ups, accumulating a total of about $2.592 million in capital.
Binance Alpha will roll out Teller first on August 26, with eligible users able to claim the airdrop.
According to official announcements, Binance Alpha will be the first to list Teller (TELLER) on August 26. Eligible users can visit the Binance Alpha event page to claim the airdrop using Binance Alpha points once trading opens, with specific airdrop details to be announced later.
35 minutes ago
Bitcoin mining company Metaplanet deposited 1,000 Bitcoin into Coinbase Prime one hour ago.
According to Lookonchain’s monitoring, Bitcoin mining firm Metaplanet deposited 1,000 BTC into Coinbase Prime an hour ago, valued at roughly $79.77 million. Earlier, the company purchased 43,000 BTC at an average price of $96,191, totaling approximately $3.48 billion.
35 minutes ago
Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million.
According to monitoring by @EmberCN, 10 minutes ago, Longling Capital transferred 65 million WLFI tokens to Binance, valued at approximately $3.79 million based on the price at that time.
35 minutes ago
Two whales plan to short $42.2 million worth of HYPE.
According to monitoring by TradingBeats (formerly Hyperinsight), two HYPE whales placed 509 non-"position-reduction-only" sell orders earlier today at higher price levels. They still plan to sell roughly 449,500 HYPE tokens, with a nominal value of around $42.226 million, at a weighted average order price of $93.94. The two sets of orders were created less than two minutes apart, but no data yet links the two addresses. The "US stock market winner" whale tracked yesterday (starting with 0x4e23) held 152,800 HYPE long positions as of yesterday and has now fully closed them for profit. Earlier today, it re-placed 24 sell orders within one minute, planning to short 327,300 HYPE tokens in the $90.385–$104.68 range, with a nominal value of about $31.5 million and a weighted average price of $96.25. Another whale starting with 0xf02d has already shorted 391,100 HYPE tokens, with a position value of ~$31.29 million, an average entry price of $75.92, and an unrealized loss of around $1.598 million. This address also placed 485 additional short orders in the $80.409–$99 range today, with a remaining planned short of 122,200 HYPE tokens (nominal value ~$10.726 million). The lowest tier of these orders is only ~0.5% away from the current price, and some have already started executing.
35 minutes ago
Maji opens $113 million worth of BTC and ETH long positions, account balance surges nearly 200 times.
According to Lookonchain’s monitoring, "Maji" (@machibigbrother) was once liquidated to the point where his account held less than $60,000. His account balance has since surged nearly 200 times, and he has opened long positions worth $113 million in Bitcoin (BTC) and Ethereum (ETH), including 23,350 ETH valued at $59 million and 668 BTC worth $54 million.
35 minutes ago
If BTC rises an additional 2%, a certain whale that shorted $45.22 million yesterday will be forced to liquidate.
According to monitoring by TradingBeats (formerly Hyperinsight), BTC is currently trading at around $80,840, up roughly 4.3% over the past 24 hours. The whale address starting with 0x6046, which opened a large short position yesterday, is now approximately 2.5% away from its liquidation line, making it the largest address on Hyperliquid closest to liquidation at present. The whale shorted 559.4 BTC in batches last night, with an average entry price of $79,318.4. The current value of the short position stands at around $45.218 million, with an unrealized loss of about $851,000, translating to a -38.4% return. It is using 20x full leverage, with a current liquidation price of roughly $82,896.5. A further ~$2,057 (or 2.5%) rise in BTC from its current price would trigger liquidation. As of press time, the whale has not set public stop-loss, take-profit, or position-reduction orders, and still holds the full 559.4 BTC short position. This address is the first active account on Hyperliquid. Yesterday evening, it first received approximately 992,000 USDC from an address starting with 0x6b9e, and began shorting BTC roughly one and a half minutes after the deposit arrived. It later added around 1.6 million USDC as margin in two separate top-ups, accumulating a total of about $2.592 million in capital.
Ethereum could target $5,363 after breaking its current resistance, but a pullback toward the $2,235 realized price first remains possible.
Ethereum saw one of its biggest weekly moves in years after staging an impressive 30% rally. The altcoin crossed $2,500 briefly, then slipped back slightly below that level.
New data shared by crypto analyst Ali Martinez suggests that ETH could be on a path toward $5,000 if it clears a major resistance zone.
Growing Buying Pressure On August 19, Ethereum’s MVRV Ratio formed a golden cross above its 160-day moving average. Martinez also pointed to stronger whale accumulation. The number of addresses holding more than 10,000 ETH has increased by 1.74%. In fact, 17 new whale addresses joined the network over the past week.
At the same time, the token supply is moving off exchanges. More than 180,764 ETH, which is worth about $440 million, has been withdrawn over the past week. Martinez said the trend supports the case for increasing buying pressure.
However, it still faces a major resistance zone between $2,722 and $2,970. URPD data shows that 16.70 million were previously acquired within this range, which makes it a major supply wall. If Ethereum breaks through the zone, the next major MVRV Pricing Band is near $5,363, at the 2.4 level. The analysts also noted that a rejection could first send the altcoin back toward the Realized Price near $2,235 before a potential move toward the 2.4 MVRV band.
Besides, Ethereum has once again reached its 200-week moving average, which happens to be the 11th such instance over the past five years, ‘The Long Investor’ found, who pointed to a repeated pattern in the crypto asset’s price history. Each time it has moved below the 200 WMA, it has later returned to the moving average.
The analyst therefore called any percentage below the level “free money” and said investors cannot lose.
You may also like: Bitcoin’s Next Rally Could Send Ethereum Toward $20K: Analyst BTC, ETH, XRP Tumble as Wintermute Builds Heavy Short Positions ETH Rallied 30% After Sentiment Collapsed: Here’s the Level That Matters Next Additionally, ETH’s 50-week and 200-week moving averages are now at the same level. This creates a confluence zone. If the asset turns that level into support, the analyst expects bulls to take it back to its all-time highs. ETH remains a buy.
ETFs Draw Fresh Capital US spot Ethereum ETFs have attracted their biggest inflows since October 2025, as demand picked up sharply during the mid-week. Net inflows stood at $30.85 million on Monday and $71.47 million on Tuesday. The pace increased after Wednesday’s announcement from the US Treasury Department. The department said it would double the maximum size of liquidity-support buybacks for longer-dated government debt, lifting them from $2 billion to at least $4 billion per operation. Wednesday recorded a capital influx of $189.15 million.
The figure rose again to $220.77 million on Thursday, while Friday recorded another strong $185 million in net inflows.
Bitcoin is trading marginally higher on Monday as cryptocurrencies digest last week’s gains.
Notable Statistics:
Coinglass data shows 90,337 traders were liquidated in the past 24 hours for $420.39 million. SoSoValue data shows net inflows of $307.5 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $184.9 million. In the past 24 hours, top gainers include Injective, POL and Pudgy Penguins. Notable Developments:
Bitcoin’s 7-Sigma Move Signals a Big ‘Macro Transition’Strategy Raises $2 Billion as Bitcoin’s 24% Surge Turns Holdings ProfitableBitcoin Will Go To $85,000 Before a Dip but the Real Story Is Its Role in the AI Economy, Expert ArguesBitmine Buys $81 Million In Ethereum as BMNR Surges 4%: What’s Going On?CRCL Could Hit $140, Says Bernstein as Cathie Wood Praises Circle’s DisruptionEthereum Surged 30%, Watch Stocks to See What Happens Next, Top Analyst SaysThe Bitcoin, Ethereum, XRP Record Week Was Just ‘The Beginning,’ Prominent Analyst SaysTrader Notes:
Michael van de Poppe said “hyped” bullish sentiment could trigger a brief market sweep, flushing out leveraged long positions.
Crypto chart analyst Ali Martinez said Bitcoin’s reclaim of the 1,130-day SMA above $74,000 is a bullish signal, noting the level has historically marked the end of bear markets.
If the pattern repeats, Martinez believes Bitcoin’s bottom may already be in.
Daan Crypto Trades said Bitcoin is still outperforming most top 50 altcoins, with rising BTC dominance signaling a healthy Bitcoin-led breakout.
He added that widespread rallies in riskier altcoins typically emerge closer to a local market top.
Image: Shutterstock
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Leading cryptocurrencies and adjacent equities climbed on Monday as sustained demand continued to drive the ongoing rally.
Crypto Market AscendsBitcoin came close to breaking above $80,000 as strong buying continued to fuel its rally. Trading volume jumped 78% over the last 24 hours.
Ethereum rose to its highest level in almost seven months, trading between $2,425 and $2,530. Dogecoin was the outlier, falling 0.57% in the last 24 hours.
Cryptocurrency-related stocks also lifted, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 2.83% and 5.74%, respectively.
Over $420 million was liquidated from the cryptocurrency market in the last 24 hours, nearly evenly split between long and short positions, according to Coinglass data.
Bitcoin’s open interest fell 1.21% over the last 24 hours. Smart money sentiment, which refers to the collective outlook and capital allocation of institutional investors, turned "extremely bullish."
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.68 trillion, following an increase of 2.36% over the last 24 hours.
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S&P 500 Closes in the RedMajor indexes started the new trading week lower. The S&P 500 slid 0.28% to close at 7,652.86, while the tech-focused Nasdaq Composite declined 0.76% to end at 25,980.19.
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The Dow Jones Industrial Average was the silver lining, rallying 140.15 points, or 0.26%, to settle at 53,417.16.
Nvidia Corp. (NASDAQ: NVDA) second-quarter earnings report could be the key market catalyst this week.
Investors will later turn their attention to Fed Chair Kevin Warsh’s Friday speech at Jackson Hole, watching for signals about the central bank’s long-term monetary policy plans.
Another Bitcoin Bull Signal?Ali Martinez, a widely followed cryptocurrency analyst and trader, noted Bitcoin reclaiming its 1,130-day simple moving average as support after 80 days.
“Over the past four market cycles, Bitcoin began a new bull market shortly after reclaiming this moving average,” Martinez stated. “If history repeats, the market bottom may already be in.”
Michaël van de Poppe, another popular cryptocurrency researcher, said Bitcoin’s liquidity sweep of recent lows around $76,400, or, in a worst-case scenario, $74,000, could pressure altcoins lower.
Van de Poppe warned that even in a mild correction, altcoins can drop 10%-20% rapidly due to their higher volatility relative to Bitcoin.
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Photo Courtesy: Sodel Vladyslav on Shutterstock.com
Prominent analyst Doctor Profit on Sunday touted Ethereum (CRYPTO: ETH), Circle (NYSE:CRCL) and Coinbase (NASDAQ:COIN) as top three holdings going into the bull market.
Doctor Profit posted his weekly Bitcoin (CRYPTO: BTC) report on X, laying out a simple two-number framework. He treats $71,000 as the key support floor and $78,500 as the next major resistance.
Everything between those two levels is noise. A clean break above $78,500 opens the path toward $82,000, which he calls the start of a full bull market escalation.
He pushed back on the overbought RSI narrative directly, noting that weekly and monthly RSI readings remain in neutral territory.
The daily RSI looks overheated because forced short covering drove much of the move rather than fresh leveraged buying, leaving underlying market positioning less stretched than the indicator suggests.
Why ETH May Be a Bigger Bet Than BTC This CycleDoctor Profit holds 60% ETH to 40% BTC — the first cycle in his trading history where Ethereum outweighs Bitcoin.
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Since his entries, BTC is up 26%, ETH is up 33%, CRCL is up 50%, and COIN is up 15%.
He argued the reason to own all three goes beyond the current price move:
Circle issues USDC (CRYPTO: USDC)
Coinbase provides the regulated on-ramp
Ethereum serves as the settlement layer underneath both
Doctor Profit posted a follow-up on X Monday, addressing the traders who spent the past 30 days calling for a bearish August, an October bottom, and further downside from the Bear Market Resistance Bands.
He said he found no convincing evidence to support those views and expected a bullish August. He dismissed the mid-year cycle theory, arguing that macro tokenization and regulatory changes, rather than historical patterns, are shaping 2026.
Ethereum experienced one of the biggest technical changes in months, rising from under $2,000 to roughly $2,496 over the course of multiple trading sessions. As a result, the $3,000 target has come back into play, but before that level becomes the default, ETH still needs to overcome substantial resistance.
Ethereum's MagnitudeThe breakout from the extended consolidation between $1,850 and $1,950 is the most significant development. While its major moving averages remained in a bearish configuration, ETH had been stuck below $2,000 for the majority of July and August. That structure was suddenly altered by the most recent impulse.
ETH/USDT Chart by TradingViewAccording to the daily chart, Ethereum has now recovered all of the major moving averages. The biggest technical barrier, the long-term average around $2,140, has been decisively crossed. Shorter averages continue to be significantly lower at $1,934, $1,974, and $2,082, forming a significant support structure below the current price.
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Additional confirmation is provided by volume. One of the biggest volume spikes seen since February coincided with the first breakout candle, indicating that significant market participation rather than thin liquidity supported the move. Nevertheless, the same acceleration causes a temporary issue. Ethereum is now firmly in overbought territory as the daily RSI has reached about 80.
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Additionally, without creating much support between $2,150 and $2,400, ETH has increased by about 30% from its pre-breakout range. Therefore, even in a bullish continuation scenario, a correction or sideways consolidation would be typical. The most recent advance has momentarily halted at $2,500–$2,550, which is the immediate resistance.
A daily close above this region might reveal $2,600, with the $2,700–$2,800 range coming next. After that, $3,000 becomes technically feasible, which is an additional 20% increase over current prices. Ethereum should ideally defend $2,400 on shallow pullbacks in order to preserve the bullish structure.
The more crucial structural support lies between $2,140 and $2,200. $3,000 is still a reasonable medium-term goal rather than an impractical extension as long as ETH stays above that recovered long-term resistance zone.
Bitcoin Making a ComebackAlthough Bitcoin has made a strong comeback toward $79,000, the pace of the move has made room for a significant short-term decline. Even though Bitcoin's technical structure has significantly improved, a return to the $70,000 range should not be discounted. After starting from the $63,000-$65,000 consolidation range, BTC is currently trading at about $78,700.
BTC/USDT Chart by TradingViewIn just a few days, the breakout caused a significant increase in volume and propelled Bitcoin through multiple significant moving averages. Above all, Bitcoin recovered the long-term moving average at $71,765, which had served as resistance all summer. The medium-term picture is significantly improved by that breakout.
Nevertheless, without creating significant support between $72,000 and its current price, Bitcoin is currently almost 10% above this long-term average. Additionally, momentum appears stretched. The daily RSI is well within overbought territory, hovering around 82.
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An elevated RSI shows that Bitcoin has moved significantly faster than its underlying trend, but it does not always indicate an immediate reversal, especially during strong breakout phases. The first support, which corresponds to the recent consolidation after the initial vertical move, is situated between $76,000 and $77,000.
Bitcoin may be able to challenge $80,000 and eventually reach the May high of about $82,000 if this area is maintained. However, the $71,000–$72,000 range would be the focus of a deeper correction. The long-term moving average is currently close to $71,765, making this area especially crucial.
Bitcoin could verify whether previous resistance has truly turned into support by conducting a retest. The $67,000–$68,500 cluster, which has multiple shorter moving averages, is another significant support zone below that. Therefore, Bitcoin's comeback would not necessarily be invalidated by a move toward $70,000.
A retest of the breakout area might actually result in a more robust technical structure following such a sharp increase from roughly $64,000 to nearly $80,000. If Bitcoin fell below $70,000 and then failed to regain the long-term moving average, that would be a more serious warning.
Shiba Inu May Have More UpsideShiba Inu is demonstrating that, despite strong resistance near the long-term moving average, its most recent recovery may still have more room to grow. As a number of technical indicators continue to improve, SHIB is currently trading close to $0.00000543, holding onto the majority of the gains made during its most recent breakout.
SHIB/USDT Chart by TradingViewThe most significant development occurred when SHIB surged from roughly $0.00000445 to momentarily reach $0.00000620. The token was pushed through its short- and medium-term moving averages almost instantly by that move, which carried significant volume. The long-term moving average at $0.00000574, however, was directly hit by the rally.
SHIB produced a long upper wick and subsequent correction after briefly trading above it but failing to gain a daily foothold. This indicates that the main resistance zone is between $0.00000570 and $0.00000600. The recovery is not necessarily threatened by the rejection itself. SHIB is still above the orange moving average near $0.00000494, while the shorter averages are located at roughly $0.00000486 and $0.00000460.
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SHIB has created a significant technical buffer above a number of trend indicators for the first time in months. Another attempt is supported by momentum. The RSI is currently at about 62, which is lower than the overbought readings produced during the initial spike.
Another attack on $0.00000574 becomes feasible after that. $0.00000600–$0.00000620 would be exposed by a confirmed breakout above the long-term moving average, with the May resistance at $0.00000650 coming next. If SHIB loses $0.00000520, the negative scenario begins. The most crucial immediate support in that scenario is $0.00000490.
If that level is lost, the breakout will be significantly weakened and SHIB may return to $0.00000460. Although SHIB has not yet fully reversed its trend, its structure has undoubtedly improved. A further push above $0.00000574 would offer much more convincing proof that buyers desire more than a short-term respite.
Ethereum registered one of the largest technical movements in recent months, rallying from below $2,000 to approximately $2,496 over several trading sessions. This surge has revived interest in the $3,000 price target, though Ethereum must overcome considerable resistance for further advances.
Ethereum’s breakout and resistance zonesThe breakout from a prolonged consolidation phase between $1,850 and $1,950 stands as the most significant change in Ethereum’s trend. For much of July and August, ETH stayed below $2,000 while its major moving averages retained a bearish structure. The recent strong upward impulse has shifted this landscape.
On the daily chart, Ethereum has now closed above its main moving averages. The key long-term average, positioned around $2,140, has been decisively surpassed. Meanwhile, shorter-term moving averages at $1,934, $1,974, and $2,082 now create a notable support area beneath the current price.
Volume also reinforces the technical improvement. One of the largest spikes since February coincided with Ethereum’s initial breakout, suggesting that the rally drew broad participation. At the same time, the move has pushed ETH into overbought levels, with the daily relative strength index (RSI) reaching approximately 80.
The rapid increase, with ETH gaining about 30% from its prior range, left little time for new support to form between $2,150 and $2,400. Even if the broader trend remains positive, a pullback or consolidation in this region would be a typical occurrence following such an advance. Ethereum now faces immediate resistance between $2,500 and $2,550.
A daily close above $2,550 could open the way to $2,600, with $2,700 to $2,800 as subsequent targets. Only after these levels are cleared does the $3,000 objective come into realistic play. Ideally, Ethereum would hold $2,400 on pullbacks to sustain its bullish momentum.
The most crucial structural support now lies in the $2,140 to $2,200 area. As long as ETH maintains levels above this former resistance, the $3,000 target remains possible in the medium term.
LevelCurrent Status$2,140Key structural support$2,400Supports bullish momentum$2,550Immediate resistance$2,700–$2,800Potential next resistance$3,000Medium-term targetEthereum decisively broke past its long-term moving average at $2,140, attracting large trading volumes and restoring the possibility of a $3,000 move, provided it maintains key support levels during the next phase.
Bitcoin surges, but correction risk remainsBitcoin has also shown renewed strength by approaching $79,000. Despite this resurgence, the pace of the move suggests that a short-term correction cannot be ruled out. Bitcoin climbed from the $63,000–$65,000 box to currently trade near $78,700.
This breakout was accompanied by significant increases in trading volume, helping BTC pass multiple major moving averages. The long-term average at $71,765, which had capped prices all summer, now serves as a key reference point above the medium-term technical outlook.
However, with Bitcoin trading nearly 10% above this core moving average and daily RSI at about 82, momentum indicators signal that the market is overheated. While such conditions do not guarantee a sell-off, they frequently precede a cooling-off period or pullback.
Short-term support is seen between $76,000 and $77,000, in line with recent consolidation following the immediate vertical rally. Holding this area may allow a test of $80,000 and possibly the May high of roughly $82,000. In case of a deeper correction, the $71,000–$72,000 zone—near the long-term moving average—becomes crucial.
A retest of the $71,765 area could help confirm its transformation from resistance to support. Additional backup exists between $67,000 and $68,500, where shorter moving averages converge. As a result, even a move toward $70,000 would remain within the bounds of a healthy technical retracement.
Bitcoin’s sharp recovery from $64,000 to nearly $80,000 establishes key support zones but leaves the asset vulnerable to a short-term move back to $70,000, especially if momentum fades and supports are tested.
Shiba Inu targets further growth after breakoutShiba Inu, the widely followed meme coin, is signaling the potential for additional advances, despite encountering resistance at its long-term moving average. At present, SHIB is priced close to $0.00000543 and retains most of its gains from its recent upward move.
SHIB surged from approximately $0.00000445 to briefly touch $0.00000620 in a wave of high trading volume. This rally pushed the price through short and medium-term moving averages, yet the ascent stalled at the long-term average near $0.00000574.
After touching this resistance, SHIB produced a prominent upper wick followed by a correction. Key resistance now stands between $0.00000570 and $0.00000600. Despite this setback, SHIB continues to trade above its crucial support levels, including the orange moving average around $0.00000494 and shorter spans at roughly $0.00000486 and $0.00000460.
Momentum also supports the possibility of another upward push. SHIB has created a solid technical buffer over its trend indicators, with RSI currently at 62, notably lower than during the initial rally. Sustained strength above $0.00000574 could expose $0.00000600–$0.00000620 as new targets, followed by the May resistance at $0.00000650.
If immediate support at $0.00000520 is breached, downward pressure may increase, making the $0.00000490 level crucial to maintain the breakout’s structure. A further move below $0.00000460 would undermine the bullish setup. Although the overall trend has not fully reversed, SHIB’s technical posture has improved with recent movements above key averages.
Mini dictionary: Moving average, a technical indicator that smooths out price data by creating a constantly updated average price, helping traders identify trend direction and support/resistance levels.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Move ETH from Ethereum to Injective through the official Injective Bridge without creating a second wallet.
MetaMask manages both sides of the transfer. When you connect it to Injective, the same account receives an Injective address beginning with inj. Injective supports Ethereum based wallets at the account level, which lets MetaMask interact with the network directly. Read more in the Injective wallet documentation.
Your ETH becomes WETH when it reaches Injective. WETH is the wrapped form of ETH available across Injective applications.
This guide walks through the full process using the official Injective Bridge.
Before You BeginYou need:
MetaMask installed from the official MetaMask websiteETH in your MetaMask account on Ethereum MainnetAdditional ETH available for the Ethereum network feeThe same MetaMask account available throughout the transferCheck the domain before connecting your wallet. The official address is bridge.injective.network.
Never enter your MetaMask recovery phrase into a bridge or website.
Step 1 - Open the Injective BridgeGo to the Injective Bridge.
The bridge interface shows the source asset and network at the top. The destination asset and network appear below them.
Select the wallet control in the upper right corner.
Choose MetaMask from the available wallets. MetaMask will open and ask you to select an account. Choose the account holding the ETH you want to bridge, then approve the connection.
The Injective Bridge will assign an inj address to the connected MetaMask account. This is the Injective address tied to the same wallet key. You don’t need to create or paste a separate destination wallet.
Step 3 - Select Ethereum as the Source NetworkOpen the source network menu.
Select Ethereum. Make sure MetaMask is connected to Ethereum Mainnet when prompted.
The network selector should now read From Ethereum.
Step 4 - Select ETH as the Source AssetOpen the source token menu and select ETH.
The bridge will display the ETH balance available in your connected MetaMask account. Keep enough ETH in the wallet to cover the Ethereum network fee.
Step 5 - Select Injective and WETH as the DestinationOpen the destination network menu and select Injective Cosmos.
This label is expected. Injective has a Cosmos native account layer, while its account system lets Ethereum based wallets such as MetaMask sign transactions.
Open the destination token menu and select WETH.
Your completed route should show:
Source network as EthereumSource token as ETHDestination network as Injective CosmosDestination token as WETH
Step 6 - Enter the AmountEnter the amount of ETH you want to bridge.
Review the available balance and keep enough ETH for the Ethereum transaction fee. The amount sent and the amount received will appear in the bridge interface before you approve the transfer.
Start with a small transfer when using the bridge for the first time.
Step 7 - Review and Confirm the TransferCheck every transfer detail before signing:
The source network is EthereumThe source asset is ETHThe destination network is Injective CosmosThe destination asset is WETHThe destination is the inj address tied to your MetaMask accountThe amount and Ethereum network fee match your expectationsSelect Bridge.
MetaMask will open with the Ethereum transaction. Review the amount and gas fee inside MetaMask, then confirm the transaction.
The Injective Ethereum Bridge locks the Ethereum asset through its bridge contract. Injective validators process the deposit and issue the corresponding asset on Injective. The Injective Ethereum Bridge documentation explains this process.
Step 8 - Track the TransferThe bridge will show the transfer status after MetaMask submits the transaction.
Keep the page open while the Ethereum transaction confirms and Injective processes the deposit. The time required depends on Ethereum confirmation and bridge processing.
Use the transaction link shown by the bridge to follow its progress. You can also search the destination address or transaction on INJScan.
Step 9 - Verify Your WETH on InjectiveOnce the bridge marks the transfer as complete, open the Injective Hub Wallet.
Connect the same MetaMask account. Find WETH in the asset list and confirm the received balance.
Your ETH is now available as WETH on Injective. You can use it across supported Injective applications without managing another wallet.
Bridge ETH to InjectiveMetaMask gives Ethereum users a direct route into Injective.
Open the Injective Bridge, connect MetaMask, choose ETH on Ethereum and WETH on Injective, then approve the transfer. The same wallet controls the funds on both networks.
DisclaimerThis article is for informational purposes only. It is not financial or investment advice.
Bridge interfaces, supported assets, fees, and processing times can change. Verify the domain, networks, assets, destination address, amount, and fees before signing any transaction.
About InjectiveInjective is the first blockchain purpose-built for finance, enabling users, institutions, and AI agents to trade, tokenize, and transact at scale. Proudly made in America, Injective provides foundational blockchain infrastructure for global markets, with embedded financial primitives spanning stablecoins, real-world assets, payments, and programmable perpetuals through a unified onchain engine. Injective is used by Fortune 500 companies, banks, fintechs, and governments to power an open economy where any asset can be accessed anytime, from anywhere. Builders can deploy across multiple virtual machines like WASM and EVM, connect to native financial modules, and launch markets with deep liquidity from day one. INJ is the native token powering the rapidly growing Injective ecosystem and the new internet economy.
Abraxas Capital, Fasanara Capital, and Wintermute still hold over $600 million in short positions in Bitcoin (BTC) and Ethereum (ETH).
Blockchain tracker Lookonchain identified the positions as market maker hedging accounts. Their liquidation prices sit far above current market levels.
Liquidation Prices Sit Far Above SpotThe crypto market rally, fueled by policy moves, triggered a wave of short liquidations. BeInCrypto reported that on August 19, short sellers lost $1.3 billion within 60 minutes as Bitcoin climbed 2.5%.
The broader sell-off in bearish positions intensified, with short liquidations reaching $2.74 billion as 172,202 traders were liquidated. Short sellers then lost another $1.06 billion over the following 24 hours.
Lookonchain said the largest remaining on-chain short positions now appear to belong to market makers’ hedging accounts.
“It seems that all the big whales have been liquidated in this price surge! Currently, the largest short positions on the blockchain are held by market makers’ hedging accounts,” Lookonchain posted.
The three firms hold short positions of 138,569 Ethereum (ETH) worth $338 million and 3,425 Bitcoin (BTC) worth $265 million.
Abraxas Capital runs the largest book. Its two ETH shorts liquidate at $4,008 and $3,958, while spot trades near $2,440.
Its BTC shorts liquidate at $128,521 and $140,437 against a $77,381 spot price. Wintermute’s Bitcoin position survives until $251,307.
No position faces liquidation unless Bitcoin climbs 66% or Ethereum climbs 62%. That distance explains why the squeeze passed them by.
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Wintermute Added Shorts as Losses MountedAbraxas Capital carries roughly $58 million in unrealized losses across its four positions. The firm has not closed any of them.
Fasanara Capital sits 18.87% underwater on a $74.81 million ETH short at 15X leverage. Wintermute remains marginally profitable on both assets, according to Lookonchain data.
Separately, Onchain Lens tracked Wintermute raising short exposure on Hyperliquid. That book shows $5.85 million in unrealized losses across various assets.
WINTERMUTE IS DOUBLING DOWN ON SHORTS WHILE MOVING HUGE FUNDS TO BINANCE 🐻
They have deposited millions more into Hyperliquid and increased their short exposure from $146.19M to $190.77M, adding ~$44.58M in shorts since our last update.
— Onchain Lens (@OnchainLens) August 23, 2026 The latest data suggests the remaining short exposure is less a broad bearish bet and more a reflection of market-making and hedging activity.
With liquidation levels still far above current prices, the positions are unlikely to face immediate pressure unless Bitcoin and Ethereum extend their rally significantly.
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Coinbase announced it has launched tokenized stocks natively on Base, allowing users to hold US equity positions and participate in DeFi.
Coinbase announced that its issued tokenized stocks have launched natively on the Base blockchain, built on the B20 standard. The underlying stocks are held 1:1 by regulated custodian Alpaca in a bankruptcy-remote structure, with token holders holding direct ownership of the reference assets. Non-US users in compliant global jurisdictions only need a wallet and internet access to gain exposure to US stocks without a brokerage account or settlement delays, and can trade at any time on 24/7 AMM pools. The first supported assets include companies like Apple and NVIDIA. As standard B20 tokens, the tokenized stocks can be freely held, transferred, and traded, with no whitelisted wallet or platform lockups. Their key significance lies in DeFi integration: users can use tokenized NVIDIA stocks as collateral to borrow on Aave, or deposit Apple stocks in decentralized exchanges to earn yields, marking the first time stocks have shifted from static assets in traditional accounts to programmable liquidity building blocks on-chain. Dividends and stock splits are handled via on-chain multiplier mechanisms to ensure DeFi positions remain uninterrupted. Ecosystem projects including Aerodrome and Aave have publicly backed the B20 standard. Coinbase said it will launch more tokenized stocks in the coming weeks and continue advancing the on-chainization of other real-world assets, opening up new opportunities for developers to integrate traditional financial assets with the crypto-native ecosystem.
6 minutes ago
Bessent on Trump's increased tariffs on Canadian autos and steel: Trump hopes to sit down and negotiate in good faith.
US Treasury Secretary Scott Bessent commented on former President Donald Trump’s announcement to raise tariffs on Canadian autos and steel to 50%. Bessent said Trump wants Canada to engage in sincere negotiations. Trump posted earlier that Canada has long taken advantage of the U.S., imposing ridiculously high tariffs on American farmers and agricultural products, leaving these producers struggling to make ends meet, and creating a $60 billion trade deficit between the two nations over time. “This situation is unsustainable and will not continue!” Trump wrote. Starting January 1, 2027, tariffs will be hiked to 50% on all cars, trucks (large and small), auto parts, and steel. Goods manufactured in the U.S. will be fully exempt from tariffs. “Canada will no longer be treated as a state,” Trump added. “Whether in trade or other areas, Canada is among the world’s most difficult countries to deal with. They believe they deserve special treatment, but the truth is: we don’t need Canada—they need us! 95% of Canada’s business is conducted with the U.S., while our relationship with Canada is the exact opposite!”
6 minutes ago
Bessent discusses the US Treasury bond repurchase plan: No bonds have been purchased yet, and the next operation is scheduled for September 9.
US Treasury Secretary Bessent discussed the US Treasury bond repurchase program, noting: "We have not purchased any bonds yet, and the next operation is scheduled for September 9." The US Treasury Department earlier announced that starting September 9, it will raise the size of its long-end liquidity support repurchase operations from a maximum of $2 billion per operation to at least $40 billion. Additionally, market sources indicate the US Treasury may draw on nearly $1 trillion in funds from its Treasury General Account (TGA) to finance the recently unveiled expanded US Treasury bond repurchase program.
6 minutes ago
U.S. Treasury: Sanctions Imposed on Nearly 60 Iran-Related Entities, Individuals and Vessels
U.S. Treasury Department: Sanctions nearly 60 Iran-related entities, individuals, and vessels, covering nuclear, missile, cyber, and oil networks. The action imposes potential secondary sanctions on five sectors—including digital assets, technology, gold, aviation, and shipping—and suspends general licenses for certain remittances to Iran.
6 minutes ago
Multicoin Capital-associated address transferred 1,061,100 HYPE tokens to Coinbase.
According to monitoring by OnchainLens, a wallet linked to Multicoin Capital transferred 1,061,100 HYPE tokens (valued at around $8.41 million) to Coinbase Prime minutes ago, potentially indicating an imminent sell-off.
Jiang Zhuoer, founder of the Chinese mining pool BTC.TOP, has shifted his outlook on Ethereum, now projecting ETH to outperform Bitcoin during the current cryptocurrency cycle. This marks a significant change from his earlier bearish stance against Ethereum.
A reversal after losses on short positionsJiang previously bet on further declines in Ethereum, selling ETH at prices between $1,738 and $1,931. After Ether moved above the $2,000 mark, he closed out his short positions at a loss and repurchased ETH near $2,100. He has said he is now about 90% confident that the broader crypto bear market has ended and is positioning for Ethereum strength going forward.
His renewed optimism is grounded in ETH’s performance relative to Bitcoin, as shown by the ETH/BTC ratio. This metric has become a focal point for Jiang’s outlook, indicating potential for continued momentum if current conditions persist.
Recent analysis from Coinpaper also pointed to a positive technical shift, highlighting that ETH/BTC has broken above a lengthy downtrend. The 0.03 level is seen as a critical threshold for further gains, signaling potential upward movement for Ether against Bitcoin.
Jiang indicated he plans to deploy his remaining capital into Ethereum if Bitcoin’s price drops back toward the $67,000 to $72,000 range. If Bitcoin does not retreat to those levels, he expects to complete his ETH accumulation by the end of October.
Institutional flows have strengthened the bullish case for Ethereum, with US spot ETH exchange-traded funds (ETFs) bringing in approximately $220.8 million in a single session as Ether rose above $2,400. This wave of inflows coincided with a 29% weekly gain in Ethereum.
Ethereum’s exposure goes beyond price action, as its network underpins stablecoins, decentralized finance (DeFi) protocols, tokenized securities, and smart contract functionality.
Tom Lee, chairman of BitMine, has expressed a similar bullish outlook for Ethereum. BitMine holds over 5.8 million ETH, representing about 4.8% of Ethereum’s total supply. Lee argues that areas such as tokenization and artificial intelligence-related blockchain applications could drive future gains for ETH against Bitcoin.
Mini dictionary: BTC.TOP is a major Chinese cryptocurrency mining pool founded by Jiang Zhuoer that has played a significant role in Bitcoin mining and industry discussion within China’s crypto sector.
Bitcoin’s enduring leadership and Ethereum’s distinct profileWhile Jiang has turned bullish on Ethereum, he continues to highlight Bitcoin’s strong monetary narrative. Bitcoin remains the largest digital asset, offering greater institutional trading liquidity and a clearly defined scarcity case that appeals to investors.
Ethereum’s strength lies in serving both as an appreciating asset and the foundation for a growing set of blockchain applications. Its ecosystem extends to sectors not directly supported by Bitcoin, including DeFi and tokenization.
During the most recent week referenced by Jiang, Bitcoin gained around 22% while Ethereum surged about 30%. The ability of ETH to sustain this outperformance may hinge on the direction of the ETH/BTC pair.
AssetWeekly GainKey Technical LevelEthereum (ETH)30%ETH/BTC 0.03Bitcoin (BTC)22%$67,000–$72,000 SupportIf ETH/BTC maintains upward momentum and holds critical support, Ethereum’s extended period of underperformance could be ending. On the other hand, a pullback in the ratio below recent support could restore Bitcoin’s market leadership.
Whether the gap between Bitcoin and Ethereum persists will depend on future price action around the ETH/BTC pair and the reaction of institutional and retail investors to shifting market dynamics.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Coinbase announced it has launched tokenized stocks natively on Base, allowing users to hold US equity positions and participate in DeFi.
Coinbase announced that its issued tokenized stocks have launched natively on the Base blockchain, built on the B20 standard. The underlying stocks are held 1:1 by regulated custodian Alpaca in a bankruptcy-remote structure, with token holders holding direct ownership of the reference assets. Non-US users in compliant global jurisdictions only need a wallet and internet access to gain exposure to US stocks without a brokerage account or settlement delays, and can trade at any time on 24/7 AMM pools. The first supported assets include companies like Apple and NVIDIA. As standard B20 tokens, the tokenized stocks can be freely held, transferred, and traded, with no whitelisted wallet or platform lockups. Their key significance lies in DeFi integration: users can use tokenized NVIDIA stocks as collateral to borrow on Aave, or deposit Apple stocks in decentralized exchanges to earn yields, marking the first time stocks have shifted from static assets in traditional accounts to programmable liquidity building blocks on-chain. Dividends and stock splits are handled via on-chain multiplier mechanisms to ensure DeFi positions remain uninterrupted. Ecosystem projects including Aerodrome and Aave have publicly backed the B20 standard. Coinbase said it will launch more tokenized stocks in the coming weeks and continue advancing the on-chainization of other real-world assets, opening up new opportunities for developers to integrate traditional financial assets with the crypto-native ecosystem.
6 minutes ago
Bessent on Trump's increased tariffs on Canadian autos and steel: Trump hopes to sit down and negotiate in good faith.
US Treasury Secretary Scott Bessent commented on former President Donald Trump’s announcement to raise tariffs on Canadian autos and steel to 50%. Bessent said Trump wants Canada to engage in sincere negotiations. Trump posted earlier that Canada has long taken advantage of the U.S., imposing ridiculously high tariffs on American farmers and agricultural products, leaving these producers struggling to make ends meet, and creating a $60 billion trade deficit between the two nations over time. “This situation is unsustainable and will not continue!” Trump wrote. Starting January 1, 2027, tariffs will be hiked to 50% on all cars, trucks (large and small), auto parts, and steel. Goods manufactured in the U.S. will be fully exempt from tariffs. “Canada will no longer be treated as a state,” Trump added. “Whether in trade or other areas, Canada is among the world’s most difficult countries to deal with. They believe they deserve special treatment, but the truth is: we don’t need Canada—they need us! 95% of Canada’s business is conducted with the U.S., while our relationship with Canada is the exact opposite!”
6 minutes ago
Bessent discusses the US Treasury bond repurchase plan: No bonds have been purchased yet, and the next operation is scheduled for September 9.
US Treasury Secretary Bessent discussed the US Treasury bond repurchase program, noting: "We have not purchased any bonds yet, and the next operation is scheduled for September 9." The US Treasury Department earlier announced that starting September 9, it will raise the size of its long-end liquidity support repurchase operations from a maximum of $2 billion per operation to at least $40 billion. Additionally, market sources indicate the US Treasury may draw on nearly $1 trillion in funds from its Treasury General Account (TGA) to finance the recently unveiled expanded US Treasury bond repurchase program.
6 minutes ago
U.S. Treasury: Sanctions Imposed on Nearly 60 Iran-Related Entities, Individuals and Vessels
U.S. Treasury Department: Sanctions nearly 60 Iran-related entities, individuals, and vessels, covering nuclear, missile, cyber, and oil networks. The action imposes potential secondary sanctions on five sectors—including digital assets, technology, gold, aviation, and shipping—and suspends general licenses for certain remittances to Iran.
6 minutes ago
Multicoin Capital-associated address transferred 1,061,100 HYPE tokens to Coinbase.
According to monitoring by OnchainLens, a wallet linked to Multicoin Capital transferred 1,061,100 HYPE tokens (valued at around $8.41 million) to Coinbase Prime minutes ago, potentially indicating an imminent sell-off.
Bitmine Immersion Technologies (NYSE:BMNR) picked up 32,447 Ethereum (CRYPTO: ETH) last week for roughly $81 million, its largest single-week purchase since early July.
What the Latest Purchase ShowsAccording to a Bitmine press release Monday, the company now holds 5,847,611 ETH worth approximately $14.6 billion, putting it at 4.8% of Ethereum’s total supply of 120.7 million tokens.
Bitmine has added ETH every week for 60 consecutive weeks since launching its treasury strategy in June 2025, with roughly 187,000 tokens still needed to hit its 5% target.
On the staking side, Bitmine has put 5.07 million ETH to work through its MAVAN institutional staking platform, generating a 7-day annualized yield of 2.67% and projecting $330 million in annualized staking revenue at current prices.
Why Lee Thinks ETH’s 30% Week Could Signal MoreBitmine Chairman Tom Lee noted in the release that ETH’s 30% weekly gain is the largest since May 2025, and the prior instance before that was July 2021.
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Both times, the move proved to be a launch point rather than a peak, with ETH gaining 167% after July 2021 and 170% after May 2025.
Lee pointed to several factors converging at once behind the move: easing financial conditions, White House support for crypto, Treasury bond buybacks, Wall Street tokenization, and agentic AI beginning to settle transactions on blockchains.
He also expects the ETH/BTC ratio to keep rising this cycle, driven by tokenization and AI rather than the ICOs, NFTs, and stablecoins that powered prior ETH outperformance cycles.
Why the ETH/BTC Ratio MattersPrior ETH outperformance cycles were driven by ICOs in 2017 to 2018, NFTs in 2020 to 2021, and stablecoins in 2025.
Lee argued the next driver is tokenization and agentic AI, both of which he called far larger and more structurally significant than any prior catalyst.
The ETH/BTC ratio has already climbed from 0.018 to around 0.030 this cycle and entered what Fundstrat calls a confirmed uptrend.
Where BMNR Stands TechnicallyBMNR surges 4% Monday, extending the breakout above its 200-day EMA at $22.06 confirmed earlier this week and hitting fresh multi-month highs at $24.02.
MACD at 1.38 shows the widest histogram reading of the entire recovery, with momentum accelerating rather than fading.
Key levels for BMNR: $22 — 200-day EMA, breakout retest support $19.22 — 100-day EMA, deeper support below Photo via Shutterstock
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
In brief Tom Lee's Bitmine bought another 32,447 ETH, worth roughly $81 million, last week. Bitmine says its 5.85 million ETH represents about 4.8% of the supply. The price of Ethereum is up more than 30% in the last week. Bitmine Immersion Technologies is another step closer to its goal of owning 5% of Ethereum’s supply after buying another 32,447 ETH, worth roughly $81 million, last week.
The company said Monday that it held 5,847,611 ETH, worth around $15 billion as of August 23.
Myriad: Ethereum next price move? Click to make your prediction.With Ethereum’s supply at approximately 120.7 million tokens, the 5% mark is about 6.04 million ETH. That puts Bitmine roughly 187,000 ETH short of its goal.
Bitmine's latest buy comes amid renewed interest and excitement in the crypto market, with the price of Ethereum exploding over the last week. ETH is up a whopping 31.5% in the last seven days, outperforming even Bitcoin's impressive gains of nearly 24% in the last week. ETH is currently trading for just under $2,500, up almost 3% in the last day alone.
Sentiment around the asset has shifted on prediction markets as well. On Myriad, a prediction market developed by Decrypt's parent company Dastan, traders are now pricing in 64% odds that Ethereum hits $3K before dropping down to $1.5K. Those odds were reversed less than a week ago, with odds as high as 74% on the bearish outcome before the market turned.
Bitmine’s ETH accumulation began last summer, with the company reaching roughly 1% of Ethereum’s supply that August and 2% in September. Bitmine’s ETH holdings passed 4.66 million ETH in March 2026 and 5.2 million in May.
Five percent is Bitmine’s own target, and crossing that threshold would not trigger a change to Ethereum or grant Bitmine control over transactions, upgrades, or governance.
The purchase came as ETH recorded its largest weekly gain in more than a year, rising roughly 31% since August 19, 2026.
“This is the largest weekly gain since May 2025, prior to that it was July 2021,” Chairman of Bitmine, Tom Lee, said in a statement. “In those two precedent instances, this weekly gain of >30% signaled a launch point for a larger move in ETH.” (Disclosure: Tom Lee is an investor in Dastan, Decrypt’s parent company.)
Myriad: Bitcoin next price move? Click to make your prediction.Lee pointed to easing financial conditions, White House support for crypto, and Treasury purchases of long-term bonds that had improved investors’ appetite for risk.
With 87% of its ETH already staked, Bitmine has placed much of its supply outside active markets. It has not said whether it will stop buying at 5%.
Bitmine said it has staked 5,067,309 ETH, equal to 87% of its holdings, and the company projects $330 million in annual staking revenue.
Chairman Tom Lee said in May that Bitmine would slow its buying to avoid reaching 5% too quickly. Purchases continued, but at an uneven pace. By late July, its holdings had reached 5.79 million ETH.
For BMNR investors, 5% would bring more staking revenue if Ethereum performs well—and greater exposure to falling ETH prices, custody failures, financing costs, and regulatory changes if it does not.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
In brief Tom Lee's Bitmine bought another 32,447 ETH, worth roughly $81 million, last week. Bitmine says its 5.85 million ETH represents about 4.8% of the supply. The price of Ethereum is up more than 30% in the last week. Bitmine Immersion Technologies is another step closer to its goal of owning 5% of Ethereum’s supply after buying another 32,447 ETH, worth roughly $81 million, last week.
The company said Monday that it held 5,847,611 ETH, worth around $15 billion as of August 23.
Myriad: Ethereum next price move? Click to make your prediction.With Ethereum’s supply at approximately 120.7 million tokens, the 5% mark is about 6.04 million ETH. That puts Bitmine roughly 187,000 ETH short of its goal.
Bitmine's latest buy comes amid renewed interest and excitement in the crypto market, with the price of Ethereum exploding over the last week. ETH is up a whopping 31.5% in the last seven days, outperforming even Bitcoin's impressive gains of nearly 24% in the last week. ETH is currently trading for just under $2,500, up almost 3% in the last day alone.
Sentiment around the asset has shifted on prediction markets as well. On Myriad, a prediction market developed by Decrypt's parent company Dastan, traders are now pricing in 64% odds that Ethereum hits $3K before dropping down to $1.5K. Those odds were reversed less than a week ago, with odds as high as 74% on the bearish outcome before the market turned.
Bitmine’s ETH accumulation began last summer, with the company reaching roughly 1% of Ethereum’s supply that August and 2% in September. Bitmine’s ETH holdings passed 4.66 million ETH in March 2026 and 5.2 million in May.
Five percent is Bitmine’s own target, and crossing that threshold would not trigger a change to Ethereum or grant Bitmine control over transactions, upgrades, or governance.
The purchase came as ETH recorded its largest weekly gain in more than a year, rising roughly 31% since August 19, 2026.
“This is the largest weekly gain since May 2025, prior to that it was July 2021,” Chairman of Bitmine, Tom Lee, said in a statement. “In those two precedent instances, this weekly gain of >30% signaled a launch point for a larger move in ETH.” (Disclosure: Tom Lee is an investor in Dastan, Decrypt’s parent company.)
Myriad: Bitcoin next price move? Click to make your prediction.Lee pointed to easing financial conditions, White House support for crypto, and Treasury purchases of long-term bonds that had improved investors’ appetite for risk.
With 87% of its ETH already staked, Bitmine has placed much of its supply outside active markets. It has not said whether it will stop buying at 5%.
Bitmine said it has staked 5,067,309 ETH, equal to 87% of its holdings, and the company projects $330 million in annual staking revenue.
Chairman Tom Lee said in May that Bitmine would slow its buying to avoid reaching 5% too quickly. Purchases continued, but at an uneven pace. By late July, its holdings had reached 5.79 million ETH.
For BMNR investors, 5% would bring more staking revenue if Ethereum performs well—and greater exposure to falling ETH prices, custody failures, financing costs, and regulatory changes if it does not.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Account abstraction on Ethereum has been one of those features that’s perpetually six months away. The latest attempt to change that, EIP-8130, just got a notable endorsement from WalletConnect co-founder Pedro Gomes, who called it a simpler and more portable model than the competing EIP-8141 proposal.
Account abstraction is the umbrella term for letting Ethereum wallets do things that currently require clunky workarounds: paying gas fees in tokens other than ETH, batching multiple transactions into one, or logging in with a fingerprint instead of managing a 64-character private key.
What EIP-8130 actually does Proposed by Chris Hunter of Coinbase’s Base team on October 14, 2025, EIP-8130 introduces a new transaction type designated AA_TX_TYPE = 0x79. The proposal also creates an on-chain Keystore system contract. Instead of each wallet running its own custom validation code, the Keystore acts as a shared registry of authentication methods.
That registry supports multiple ways to prove you’re you: the traditional secp256k1 signatures that Ethereum has always used, P-256 curves (the kind your phone’s secure enclave speaks), and WebAuthn, the standard behind passkeys.
The key architectural decision is separating authentication from execution logic. In the current ERC-4337 model, bundlers simulate wallet bytecode to validate transactions before including them. EIP-8130 sidesteps that by defining a canonical set of authenticators that nodes can validate efficiently without ad hoc simulation.
Pedro Gomes’s preference for EIP-8130 over EIP-8141 comes down to this trade-off. EIP-8141 offers greater flexibility, letting users define their own validation and gas payment logic. EIP-8130 constrains those options in exchange for predictability and portability.
The cross-chain angle The shared Keystore and canonical authenticator set are designed to work identically across any EVM-compatible chain. Set up your account on Base, and the same authentication configuration should work on Optimism, Arbitrum, or Ethereum mainnet without reconfiguration.
Today, smart account deployments are chain-specific. Users who want the same wallet experience across multiple rollups often need to deploy separate contracts on each chain, each with its own gas costs and setup friction.
EIP-8130 is backed by Coinbase, Optimism, and WalletConnect. Coinbase operates Base, Optimism runs the OP Stack that powers multiple rollups, and WalletConnect serves as the connective tissue between wallets and decentralized applications.
Deployment is targeted for the Base Cobalt upgrade around September 2026. That timeline means Base would serve as the proving ground before any conversation about Ethereum Layer 1 activation, which has no active schedule.
How it compares to ERC-4337 ERC-4337 has been Ethereum’s account abstraction workhorse since 2023. It works at the application layer rather than the protocol layer, meaning it didn’t require a hard fork to deploy. Bundlers collect user operations, validate them, and submit them on-chain.
EIP-8130 claims a 63% reduction in transfer costs compared to ERC-4337. That gap exists because ERC-4337’s bundler architecture adds gas overhead for simulation, bundling, and the EntryPoint contract that processes user operations. By moving account abstraction into the protocol itself, EIP-8130 eliminates several of those intermediate steps.
What to watch As of August 2026, EIP-8130 remains a draft with active discussion happening across Ethereum Magicians and GitHub, with no active schedule for Layer 1 activation.
The September 2026 target for Base Cobalt gives the proposal roughly a year of runway for refinement from its October 2025 proposal date, covering a relatively contained scope of a single L2 deployment versus a mainnet hard fork.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The increase in ETH was expected for a long time, says Tom Lee, as BitMine buys 32,447 more ethers. This statement comes in a context marked by the recent evolution of the Ethereum market. The operation thus parallels two elements: the accumulation of ETH by BitMine and Tom Lee’s analysis. His comment sheds light on this progress. With this acquisition, BitMine directly strengthens its exposure to Ethereum, while Tom Lee highlights an increase he considers expected.
In brief BitMine buys 32,447 additional ETH, strengthening its exposure to Ethereum. Tom Lee believes the increase in ETH was expected for a long time. The acquisition comes as Ethereum experiences a rise, placing the operation in the news spotlight. The 32,447 ETH is the main figure shared, with no other details on purchase conditions. BitMine buys 32,447 additional ETH BitMine continues its accumulation with a new purchase of 32,447 additional ETH. This new purchase brings its holdings to 5,847,611 ETH and its total investment portfolio (cryptocurrencies, cash, negotiable securities, and others) to 14.9 billion dollars as of Monday. This operation constitutes the main concrete element of this news. It shows that the company continues to strengthen its exposure to Ethereum. The figure of 32,447 ETH particularly allows measuring the scale of this acquisition.
The company also does not just hold its ETH. A large portion of its holdings goes into staking. As of August 23, approximately 5.07 million ETH were staked, representing nearly 12.7 billion dollars. This strategy allows BitMine to seek to generate additional income through network rewards.
The company’s announcement comes as ETH experiences an increase. The connection between the two events gives a special context to the purchase made by BitMine. The company thus increases the amount of Ethereum it holds. However, the available information does not specify the price paid for the new purchase.
Tom Lee considers the Ether increase expected The acquisition also comes as Tom Lee reviews the evolution of ETH. According to him, the current rise of Ether is not a surprise. He believes this increase was expected for a long time and driven by tokenization on Wall Street and the support shown by Washington for digital assets. He stated:
We believe this ETH increase was expected given the strengthening fundamentals of the cryptocurrency sector, the multiple favorable factors of tokenization on Wall Street, and artificial intelligence. Furthermore, the support shown by the White House for cryptocurrencies and the long-term bond purchases by the U.S. Treasury have fostered a greater appetite for risk.
This analysis provides context to the acquisition made by BitMine. It especially emphasizes that the movement observed on Ethereum fits into an already identified expectation.
Tom Lee’s statement remains focused on the rise of ETH. It does not provide a new price target with the available information. It also does not specify the exact duration of this progression. The comment therefore only allows retaining his assessment of the current movement.
On its side, BitMine acts directly on the market with the purchase of 32,447 more ETH. This operation gives a concrete dimension to the news around Ethereum. Tom Lee offers a different reading, based on the asset’s evolution. The two elements complement each other without allowing for a precise forecast.
An acquisition that puts Ethereum at the center of the news The purchase of 32,447 ETH once again places Ethereum at the heart of this news. BitMine thus increases its exposure to the asset, while Tom Lee highlights the observed rise. However, the link between the two pieces of information remains limited to the communicated facts. No other element allows going beyond this observation.
Nevertheless, this operation provides a precise figure to monitor. The 32,447 ETH represent the announced volume in this acquisition. For Ethereum, this information comes as Tom Lee describes the rise as expected for a long time. The market therefore has two distinct indications concerning the asset.
BitMine’s acquisition is the main element to retain, while Tom Lee estimates that the Ethereum price increase was expected for a long time. However, the two pieces of information must be distinguished: one concerns a concrete operation, the other a market assessment. No provided element yet allows determining the asset’s future price evolution.
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Journaliste et rédacteur web passionné par l’univers des cryptomonnaies et des technologies Web3. J’y traite les dernières tendances et actualités afin de proposer un contenu de haute qualité à un large public du secteur.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Coinbase announced it has launched tokenized stocks natively on Base, allowing users to hold US equity positions and participate in DeFi.
Coinbase announced that its issued tokenized stocks have launched natively on the Base blockchain, built on the B20 standard. The underlying stocks are held 1:1 by regulated custodian Alpaca in a bankruptcy-remote structure, with token holders holding direct ownership of the reference assets. Non-US users in compliant global jurisdictions only need a wallet and internet access to gain exposure to US stocks without a brokerage account or settlement delays, and can trade at any time on 24/7 AMM pools. The first supported assets include companies like Apple and NVIDIA. As standard B20 tokens, the tokenized stocks can be freely held, transferred, and traded, with no whitelisted wallet or platform lockups. Their key significance lies in DeFi integration: users can use tokenized NVIDIA stocks as collateral to borrow on Aave, or deposit Apple stocks in decentralized exchanges to earn yields, marking the first time stocks have shifted from static assets in traditional accounts to programmable liquidity building blocks on-chain. Dividends and stock splits are handled via on-chain multiplier mechanisms to ensure DeFi positions remain uninterrupted. Ecosystem projects including Aerodrome and Aave have publicly backed the B20 standard. Coinbase said it will launch more tokenized stocks in the coming weeks and continue advancing the on-chainization of other real-world assets, opening up new opportunities for developers to integrate traditional financial assets with the crypto-native ecosystem.
6 minutes ago
Bessent on Trump's increased tariffs on Canadian autos and steel: Trump hopes to sit down and negotiate in good faith.
US Treasury Secretary Scott Bessent commented on former President Donald Trump’s announcement to raise tariffs on Canadian autos and steel to 50%. Bessent said Trump wants Canada to engage in sincere negotiations. Trump posted earlier that Canada has long taken advantage of the U.S., imposing ridiculously high tariffs on American farmers and agricultural products, leaving these producers struggling to make ends meet, and creating a $60 billion trade deficit between the two nations over time. “This situation is unsustainable and will not continue!” Trump wrote. Starting January 1, 2027, tariffs will be hiked to 50% on all cars, trucks (large and small), auto parts, and steel. Goods manufactured in the U.S. will be fully exempt from tariffs. “Canada will no longer be treated as a state,” Trump added. “Whether in trade or other areas, Canada is among the world’s most difficult countries to deal with. They believe they deserve special treatment, but the truth is: we don’t need Canada—they need us! 95% of Canada’s business is conducted with the U.S., while our relationship with Canada is the exact opposite!”
6 minutes ago
Bessent discusses the US Treasury bond repurchase plan: No bonds have been purchased yet, and the next operation is scheduled for September 9.
US Treasury Secretary Bessent discussed the US Treasury bond repurchase program, noting: "We have not purchased any bonds yet, and the next operation is scheduled for September 9." The US Treasury Department earlier announced that starting September 9, it will raise the size of its long-end liquidity support repurchase operations from a maximum of $2 billion per operation to at least $40 billion. Additionally, market sources indicate the US Treasury may draw on nearly $1 trillion in funds from its Treasury General Account (TGA) to finance the recently unveiled expanded US Treasury bond repurchase program.
6 minutes ago
U.S. Treasury: Sanctions Imposed on Nearly 60 Iran-Related Entities, Individuals and Vessels
U.S. Treasury Department: Sanctions nearly 60 Iran-related entities, individuals, and vessels, covering nuclear, missile, cyber, and oil networks. The action imposes potential secondary sanctions on five sectors—including digital assets, technology, gold, aviation, and shipping—and suspends general licenses for certain remittances to Iran.
6 minutes ago
Multicoin Capital-associated address transferred 1,061,100 HYPE tokens to Coinbase.
According to monitoring by OnchainLens, a wallet linked to Multicoin Capital transferred 1,061,100 HYPE tokens (valued at around $8.41 million) to Coinbase Prime minutes ago, potentially indicating an imminent sell-off.
BMNR jumps 8% as Bitmine raises Ethereum holdings to 5.85 million after latest buy Bitmine adds 32,447 ETH and moves closer to controlling 5% of Ethereum supply Bitmine stakes over 5 million ETH as its expanding treasury strategy gains scale Ethereum’s 30% weekly surge boosts the value of Bitmine’s massive crypto treasury Bitmine keeps its lead as the largest public Ethereum treasury after another buy Bitmine Immersion Technologies (BMNR) shares rose 8.26% to $24.72 after the company reported another major expansion of its Ethereum treasury. The company added 32,447 ETH last week and lifted total Ethereum holdings to 5,847,611 tokens. The latest purchase moved Bitmine closer to its target of controlling 5% of Ethereum’s circulating supply.
Bitmine Immersion Technologies, Inc., BMNR
Bitmine valued its crypto assets, cash, marketable securities, and strategic holdings at about $14.9 billion on August 23. Its portfolio also included 210 Bitcoin, $308 million in cash and marketable securities, and two strategic equity positions. Those positions included a $180 million stake in Beast Industries and an $89 million investment in Eightco Holdings.
The company currently controls about 4.8% of Ethereum’s estimated 120.7 million token supply. Reaching the 5% threshold would require about 6.04 million ETH at the current supply level. Therefore, Bitmine remains roughly 187,000 ETH short of its long-term accumulation target.
Ethereum Staking Supports Bitmine’s Treasury Strategy Bitmine has also increased the amount of Ethereum committed to staking through its treasury operations and staking partners. The company reported 5,067,309 staked ETH, representing about 87% of its total Ethereum holdings. At the stated ETH reference price, the staked position carried a value near $12.4 billion.
Bitmine launched its Made in America Validator Network earlier in 2026 to support institutional-grade Ethereum staking infrastructure. The platform currently handles part of the company’s treasury assets and could later serve outside institutions. This strategy connects Bitmine’s Ethereum accumulation plan with recurring staking income from its large treasury.
The company projected annualized staking revenue near $330 million based on its current staked balance and reported yield. Bitmine also estimated annual rewards could reach $381 million after staking its entire Ethereum treasury. The company reported a seven-day staking yield of 2.67% on an annualized basis.
Bitcoin Position Adds Broader Crypto Treasury Exposure Bitcoin remains a smaller part of Bitmine’s treasury, with the company holding 210 BTC alongside its larger Ethereum position. That structure reflects Bitmine’s decision to make Ethereum the central asset behind its corporate treasury strategy. Bitcoin still gives the company additional exposure to broader cryptocurrency market conditions and liquidity trends.
Bitmine ranks behind Strategy among major public crypto treasuries by total digital asset value. Strategy reportedly holds 840,447 Bitcoin, making it the largest corporate Bitcoin treasury globally. Meanwhile, Bitmine leads the public Ethereum treasury category through the scale of its accumulated ETH position.
The latest update follows a strong week for Ethereum, which gained about 30% and increased Bitmine’s treasury value. Management linked the advance to stronger crypto fundamentals, tokenization growth, artificial intelligence demand, and improving financial conditions. Bitmine has purchased Ethereum every week since launching its treasury strategy on June 30, 2025.
Ethereum price broke above $2,500 this week during a sharp market-wide rally, and BitMine Immersion Technologies used the moment to make its largest weekly purchase since early July.
The Tom Lee-chaired firm added 32,447 ETH, pushing its position closer to a stated “5% Alchemy” target.
Ethereum (ETH) Price Performance. Source: BeInCryptoBitMine’s Largest Purchase in WeeksBitMine spent $81 million to buy the new tokens, bringing its total holdings to 5,847,611 ETH, valued at approximately $14.6 billion at current prices.
Including 210 Bitcoin (BTC), stakes in Beast Industries and Eightco Holdings, and $308 million in cash and marketable securities, the company reported a combined treasury of $14.9 billion, up from $11.4 billion the previous week.
The company has purchased ETH every single week since launching its treasury strategy on June 30, 2025, a run of roughly 14 months without interruption.
Its current holdings amount to roughly 4.8% of Ethereum’s total supply, putting the firm about 97% of the way toward the 5% threshold it has pursued publicly since the strategy began.
Tom Lee’s Bitmine has bought another $81M worth of Ethereum, marking its largest weekly ETH accumulation since early July.
The purchase comes as ETH has surged around 30% over the past week, with Lee suggesting this move could be the beginning of a much larger trend.
While many… pic.twitter.com/jm3h1cE42m
— That Martini Guy ₿ (@MartiniGuyYT) August 24, 2026
Roughly 5,067,309 ETH, or 87% of BitMine’s holdings, sits staked through its Made in America Validator Network.
The company projects that the position could generate around $330 million in annualized revenue, though actual returns depend on network conditions and validator performance rather than being guaranteed.
Why Tom Lee Sees This Rally as DifferentETH traded near $2,511 as of August 24, according to BeInCrypto data, after surging roughly 30% over the past week, its strongest gain since May 2025. That climb outpaced Bitcoin’s own advance of roughly 22% over the same period.
Lee framed the past week’s price action as historically significant. This marks the largest weekly gain since May 2025, and in the two prior instances of similar magnitude, such a move signaled the launch point of a much larger rally, one he noted was followed by gains exceeding 160% in earlier cycles.
He pointed to several tailwinds behind the move: Wall Street’s growing tokenization efforts, expanding agentic AI applications built on blockchain infrastructure, supportive policy signals out of Washington, and easing broader financial conditions.
BitMine’s continued buying, even as ETH rallies rather than dips, signals institutional conviction rather than opportunistic bottom-fishing.
As the largest publicly traded Ethereum treasury company, it positions its steady accumulation and staking operations as a structural force behind the network’s growth, regardless of short-term price swings.
Whether this week’s breakout above $2,500 marks the start of the larger move Lee described will likely depend on whether the fundamental catalysts he cited continue building momentum in the weeks ahead.
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BitMine Immersion Technologies has just added more crypto to its expanding crypto treasury, namely Ethereum. The new acquisition arrives on back of a hefty weekly rally in ETH. The company is also closing in on the goal of buying 5% of Ethereum’s total supply.
BitMine Buys More Ethereum Amid Price Surge BitMine Chairman Thomas “Tom” Lee said that the company brought 32,447 ETH in the last week. The most recent purchase comes to approximately $79 million, based on the ETH price of $2,440, the company stated. Since the launch of its ETH Treasury Strategy on June 30, 2025, BitMine has been purchasing ETH weekly.
With the new Ether purchase, BitMine’s total holdings of Ethereum have risen to 5,847,611 ETH. This company now has 4.8% of the control of all the Ethereum coins with a total of 120.7 million coins. That takes it 97% of the way towards the “Alchemy of 5%” goal.
“ETH gained 30% in the past week. This is the largest weekly gain since May 2025, prior to that it was July 2021,” Lee said. Earlier, he shared a bullish Ethereum price prediction, which he has doubled down on.
He also highlighted the performance of ETH after the previous rallies. Ethereum has since rallied 167% following the July 2021 move, and 170% from the May 2025 surge. The week’s gain is the potential starting point for the latest weekly move, Lee said.
“We expect easing financial conditions to be a tailwind for crypto,” Lee added.
Lee also spoke of changes outside of the monetary arena. The rise of Wall Street’s attention to tokenization on the blockchain and agentic AI on blockchain networks could be useful to Ethereum’s next phase, he said.
BMNR Stock Surges After Latest ETH Purchase Bitmine’s stock has also rallied during Monday’s session. Market data at press time indicates that BMNR stock traded at $24.27, a change of $1.44 or 6.31%, from its previous close of $22.83. The stock started at $23.60 and maxed out at $24.46 during the day. Its low stood at $23.23.
BitMine has also staked 5,067,309 ETH, valued at about $12.4 billion at $2,440 per coin. Staked ETH is equivalent to 87% of its total ETH holdings.
The company now estimates annualized staking revenues to be $330 million. It earned a 2.67% 7-day annualized return from its own staking service.
BitMine’s total crypto, cash, marketable securities and “moonshots” were valued at $14.9 billion by the 23rd of August. The total is composed of 210 BTC, $308 million in cash and marketable securities, $180 million in stake in Beast Industries and $89 million in stake in Eightco Holdings.
BitMine was added to the Russell 1000 Large-cap index on June 26, 2026. It has a ticker symbol of BMNP, and is listed on the NYSE under its Series A Preferred Stock.
Bitmine Immersion Technologies increased its Ethereum holdings last week, buying 32,447 Ether (ETH) as the cryptocurrency surged sharply following a prolonged period of weakness. The company’s updated figures bring its total ETH holdings to 5,847,611, representing approximately 4.8% of Ethereum’s circulating supply.
Weekly accumulation strategy pushes Bitmine toward supply targetBitmine has maintained a disciplined Ethereum accumulation strategy, recording purchases every week since initiating its treasury program on June 30, 2025. With last week’s addition, the buying streak has continued uninterrupted for about 14 months.
NYSE-listed shares of Bitmine opened the week up 8.7%, building on a nearly 28% gain achieved over the previous six months. The company is now just three percentage points away from fulfilling its stated objective of owning 5% of ETH’s total circulating supply.
According to the latest disclosures, Bitmine has staked 5.07 million ETH, totaling about 87% of its entire Ethereum holdings. Alongside its crypto assets, the firm’s combined portfolio of cash, securities, and other investments stands at $14.9 billion.
Ether rallies past key levels, outpacing Bitcoin after US Treasury moveBitmine’s most recent Ether purchase coincided with a significant rally across the broader digital asset market. Over the past week, Ether has outperformed Bitcoin, particularly after the US Treasury revealed plans to double its monthly purchases of select longer-dated US Treasurys from $2 billion to $4 billion, beginning next month.
ETH has risen more than 32% since the announcement, climbing above $2,500 for the first time since January, according to CoinMarketCap.
ETH surged more than 32% following the US Treasury’s announcement, exceeding $2,500 for the first time since January and narrowing losses for institutional holders like Bitmine.
This strong performance contrasts sharply with the headwinds the asset faced earlier in the year, when falling prices left major holders with substantial unrealized losses. For Bitmine, the recent price recovery has dramatically reduced its paper losses.
Persistent volatility presents challenges for asset managersBitmine has invested more than $19.5 billion into its Ether treasury over the course of its accumulation strategy. According to DropsTab data, the company’s unrealized losses contracted from $8.4 billion a week ago to under $5 billion as ETH rebounded.
The recent turnaround comes as the crypto market remains prone to sharp swings, underscoring the challenges of actively managing large digital asset portfolios. Expanding and maintaining treasury positions in such an environment demands continuous analysis and sophisticated monitoring tools.
In a market where a single Fed decision or a sudden altcoin listing can change everything in seconds, jumping between different apps for charts, news, and portfolio tracking is costing investors money. Smart traders are now utilizing privacy-first tools like CryptoAppsy to consolidate everything. Without even the hassle of creating an account, you get real-time charts, smart price alerts, coin-specific news, and critical macro data all on one screen.
Bitmine’s experience highlights how pronounced digital asset volatility directly impacts treasury performance, making ongoing oversight and nimble strategy adjustments crucial for institutional participants.
The sharp swings highlight the challenges of managing digital asset treasuries, whose valuations can fluctuate significantly with changing market conditions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
In brief U.S. spot Bitcoin and Ethereum ETFs added $2.6 billion in net inflows for the week ending August 21, their best week since October 2025, while total assets under management jumped roughly $23 billion. Bitcoin ETF assets rose 25.4% to $96.1 billion and Ethereum ETF assets rose 35.9% to $14.3 billion, according to SoSoValue data. Bitcoin gained about 24% and Ethereum about 30% during the week after the Treasury doubled a bond-buyback program and a short squeeze wiped out billions in bearish bets. U.S. spot Bitcoin and Ethereum ETFs picked up roughly $23 billion in total value last week. Only $2.6 billion of that came from new money. Everything else came from Bitcoin and Ethereum simply getting more expensive.
That distinction may get lost in the euphoria of a market rally. A crypto fund's total value—what's called assets under management, or AUM—grows for two separate reasons: fresh cash coming in the door, or the coins already sitting inside becoming worth more. Last week, almost all of the growth was the second kind.
Myriad: Bitcoin next price move? Click to make your prediction.Spot Bitcoin ETFs added $1.92 billion in net inflows for the week ending August 21, while Ethereum funds took in $697.2 million. Combined, that $2.6 billion was the strongest week for both fund categories since October 2025, when Bitcoin was closing in on its all-time high.
The AUM side moved much further. Bitcoin ETF assets climbed 25.4% to $96.1 billion from $76.6 billion. Ethereum ETF assets jumped 35.9% to $14.3 billion from $10.5 billion.
Add those together and total assets rose about $23.3 billion for the week. Strip out the $2.6 billion investors actually put in, and roughly $20.7 billion of that increase was pure price appreciation—Bitcoin and Ethereum becoming worth more while sitting exactly where they already were.
Why the coins got more valuableBitcoin ran from around $62,000 to briefly above $79,000, a roughly 24% weekly gain and its best week since 2023. Ethereum climbed from under $1,900 to above $2,500, up about 30%.
Three separate forces pushed prices that hard. The clearest was the U.S. Treasury's move to double its long-bond buyback program—purchases of the government's own debt meant to support demand and lower borrowing costs—which weakened the dollar and pushed investors toward assets often used as inflation hedges, Bitcoin included.
Myriad: Ethereum next price move? Click to make your prediction.President Donald Trump also met crypto executives at the White House and pressed Congress on the Clarity Act, a bill meant to settle which regulator oversees which crypto assets. The third force did the most damage to skeptics: as prices broke through resistance, traders who had bet on Bitcoin falling got forced to buy back in at a loss to close those bets, a short squeeze that wiped out roughly $3 billion in bearish positions within 24 hours, with another $1 billion liquidated the day after. Each forced purchase pushed the price higher and triggered the next round of liquidations.
BlackRock's IBIT captured the largest share of the new money, at one point taking in 83 cents of every dollar that flowed into Bitcoin funds in a single day. XRP funds also drew fresh demand, pulling in $39.78 million and setting a record weekly volume of $271.74 million.
The rally hasn't erased 2026's damage. Bitcoin ETFs are still down in net outflows for the year, and Ethereum ETFs remain negative, narrowing the combined year-to-date deficit from $5.7 billion to $3.1 billion.
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In brief U.S. spot Bitcoin and Ethereum ETFs added $2.6 billion in net inflows for the week ending August 21, their best week since October 2025, while total assets under management jumped roughly $23 billion. Bitcoin ETF assets rose 25.4% to $96.1 billion and Ethereum ETF assets rose 35.9% to $14.3 billion, according to SoSoValue data. Bitcoin gained about 24% and Ethereum about 30% during the week after the Treasury doubled a bond-buyback program and a short squeeze wiped out billions in bearish bets. U.S. spot Bitcoin and Ethereum ETFs picked up roughly $23 billion in total value last week. Only $2.6 billion of that came from new money. Everything else came from Bitcoin and Ethereum simply getting more expensive.
That distinction may get lost in the euphoria of a market rally. A crypto fund's total value—what's called assets under management, or AUM—grows for two separate reasons: fresh cash coming in the door, or the coins already sitting inside becoming worth more. Last week, almost all of the growth was the second kind.
Myriad: Bitcoin next price move? Click to make your prediction.Spot Bitcoin ETFs added $1.92 billion in net inflows for the week ending August 21, while Ethereum funds took in $697.2 million. Combined, that $2.6 billion was the strongest week for both fund categories since October 2025, when Bitcoin was closing in on its all-time high.
The AUM side moved much further. Bitcoin ETF assets climbed 25.4% to $96.1 billion from $76.6 billion. Ethereum ETF assets jumped 35.9% to $14.3 billion from $10.5 billion.
Add those together and total assets rose about $23.3 billion for the week. Strip out the $2.6 billion investors actually put in, and roughly $20.7 billion of that increase was pure price appreciation—Bitcoin and Ethereum becoming worth more while sitting exactly where they already were.
Why the coins got more valuableBitcoin ran from around $62,000 to briefly above $79,000, a roughly 24% weekly gain and its best week since 2023. Ethereum climbed from under $1,900 to above $2,500, up about 30%.
Three separate forces pushed prices that hard. The clearest was the U.S. Treasury's move to double its long-bond buyback program—purchases of the government's own debt meant to support demand and lower borrowing costs—which weakened the dollar and pushed investors toward assets often used as inflation hedges, Bitcoin included.
Myriad: Ethereum next price move? Click to make your prediction.President Donald Trump also met crypto executives at the White House and pressed Congress on the Clarity Act, a bill meant to settle which regulator oversees which crypto assets. The third force did the most damage to skeptics: as prices broke through resistance, traders who had bet on Bitcoin falling got forced to buy back in at a loss to close those bets, a short squeeze that wiped out roughly $3 billion in bearish positions within 24 hours, with another $1 billion liquidated the day after. Each forced purchase pushed the price higher and triggered the next round of liquidations.
BlackRock's IBIT captured the largest share of the new money, at one point taking in 83 cents of every dollar that flowed into Bitcoin funds in a single day. XRP funds also drew fresh demand, pulling in $39.78 million and setting a record weekly volume of $271.74 million.
The rally hasn't erased 2026's damage. Bitcoin ETFs are still down in net outflows for the year, and Ethereum ETFs remain negative, narrowing the combined year-to-date deficit from $5.7 billion to $3.1 billion.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
Crypto prices are pausing today after a powerful week of gains, and the timing lines up with a major geopolitical announcement out of Washington.
XRP is up 49.5% this past week, but remains nearly flat over the last 24 hours, trading near $1.48. Bitcoin is trading near $78,738 today, up 23.4% over the past week overall, while Ethereum climbed 29.8% over the past week, and now trades near $2,468 currently. Solana and Hyperliquid also posted strong weekly gains of 26.6% and roughly 13% respectively.
The pattern across the board is the same. Big weekly gains, but a quieter 24 hours, suggesting the market may be pausing to digest fresh news rather than continuing its climb.
Bessent Announces a New Campaign Against Iran
Treasury Secretary Scott Bessent unveiled a new global economic offensive targeting Iran’s financial networks, framing it in stark terms. “Iran now faces a very clear choice, with only two paths before them,” Bessent said. “Complete global isolation and a subsistence economy, or a path back to normalcy with an opportunity to rejoin the global economy.”
He named the effort Operation Economic Outcast, describing it as an attempt to close off every remaining option available to Tehran. “Today, we are launching Operation Economic Outcast to foreclose every other option available to the Iranian regime,” Bessent said, drawing a historical comparison to the D-Day campaign.
“D-Day marked the historic beginning of a campaign with our allies to target and drive the enemy from its positions, including those in third countries,” he said. “Today, in that same spirit, we are launching an economic onslaught against Iran’s financial connections around the globe.”
What the Campaign Actually Targets
Bessent said the Treasury has mapped every node Iran uses to evade global sanctions, including the networks the regime relies on to smuggle oil and move money internationally. He described the approach as “zero leakage,” aimed at leaving the regime “no minimal breathing space” to rebuild funding sources tied to the Islamic Revolutionary Guard Corps.
According to Bessent, coordinated actions from the Treasury and other federal agencies are intended to block every remaining revenue stream connected to the IRGC.
Why Markets Might Be Reacting Cautiously
Announcements involving Iran sanctions and geopolitical escalation have repeatedly injected volatility into both traditional and crypto markets throughout the year, often triggering short-term risk-off behavior even when the news itself doesn’t directly target financial markets.
Today’s relatively flat 24-hour price action across major cryptocurrencies, despite a strong week overall, may mean traders taking a more careful stance while assessing how this new sanctions campaign could ripple into broader market sentiment in the days ahead.
Story Ends Here
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U.S. Treasury: Sanctions Imposed on Nearly 60 Iran-Related Entities, Individuals and Vessels
U.S. Treasury Department: Sanctions nearly 60 Iran-related entities, individuals, and vessels, covering nuclear, missile, cyber, and oil networks. The action imposes potential secondary sanctions on five sectors—including digital assets, technology, gold, aviation, and shipping—and suspends general licenses for certain remittances to Iran.
16 minutes ago
Multicoin Capital-associated address transferred 1,061,100 HYPE tokens to Coinbase.
According to monitoring by OnchainLens, a wallet linked to Multicoin Capital transferred 1,061,100 HYPE tokens (valued at around $8.41 million) to Coinbase Prime minutes ago, potentially indicating an imminent sell-off.
16 minutes ago
ZEC hits an approximately 8-year high, briefly touching $888; the NU7 network upgrade snapshot is imminent.
According to HTX market data, ZEC hit an approximately 8-year high today, touching its highest price since 2018 at $888 with a weekly gain of over 70%. It is currently holding steady near the $844 level. The Zcash community will launch an 18-day token holder vote starting on the 24th (Beijing time: early morning of the 25th) to determine the scope of the upcoming NU7 upgrade. The minimum voting participation threshold is 1 million ZEC. Voting rights are based on spendable, shielded ZEC held in the Ironwood pool at the snapshot time (estimated 19:00 UTC on the 24th, mainnet block height approx. 3,459,350). The vote opens August 25 and closes at 19:00 UTC on September 14. Votes are cast privately via supported wallets, including Zodl, Vizor, Zkool, and Keystone hardware wallets; only aggregated data will be released, with no individual voting details disclosed. The initiative aims to gather holders’ feedback on the upgrade scope for reference by the community and developers.
16 minutes ago
Whale’s short positions, which first set 10 major price targets, may see their unrealized losses expand to $6.88 million.
As Bitcoin rebounds to hit the $80,000 mark, the massive short positions in Bitcoin and Ethereum held by the whale codenamed "Set 10 Big Goals First" may return to loss if they retain their original positions. The open positions are as follows: - BTC short positions: 1,830.724 BTC, worth approximately $139 million, average entry price $76,397.56 - ETH short positions: 12,756.739 ETH, worth approximately $30.25 million, average entry price $2,371.57 Based on current BTC price of $79,300 and ETH price of $2,499, the total unrealized loss on the whale's address could reach $6.88 million. The whale has previously resumed live trading on Binance but is currently in an invisible status, making it impossible to confirm whether the trader has closed positions to stop loss.
16 minutes ago
Scott Bessent plans to take aggressive measures to push the 10-year U.S. Treasury yield to 5%.
According to Fox Business News, Wall Street executives stated that U.S. Treasury Secretary Scott Bessent is preparing to take aggressive measures to push the 10-year U.S. Treasury yield to around 5%. The Trump administration is not expected to pursue fiscal austerity policies, but instead aims to reduce debt via tax increases. Earlier reports noted that Bessent is eyeing the trillion-dollar "emergency fund pool" to cover U.S. Treasury obligations, leveraging the powerful tool of the Treasury General Account (TGA) to influence long-term bond yields.
16 minutes ago
Coinbase will list spot trading for BASECAT and DRB.
Coinbase to Launch Spot Trading for Basecat (BASECAT) and DebtReliefBot (DRB). If liquidity conditions are met and trading is supported in relevant regions, the BASECAT-USD and DRB-USD trading pairs will open today.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Ethereum has posted a strong recovery over the past week, climbing nearly 31% to trade around $2,495. This surge comes as traders watch for signs of a broader altcoin season, yet key market trackers remain unconvinced a genuine altseason has begun.
Leading gains, but rotation remains limitedEthereum (ETH) saw its price climb to approximately $2,494.68, representing a daily gain of 2.59% and a weekly increase of 31.01%. Bitcoin (BTC) also experienced a solid performance, trading near $78,411 with a 23.25% rise over the same period.
A small number of altcoins outpaced Ethereum. XRP advanced roughly 49%, and Zcash (ZEC) gained about 64% in the past seven days. However, BTC maintained a dominant market position, accounting for over 59% of the total cryptocurrency market value. ETH’s share was recorded at about 11.4%, indicating that capital has not broadly shifted from Bitcoin to altcoins.
Market sentiment remains high, with CoinMarketCap reporting a Fear and Greed Index score of 80 out of 100, suggesting prevailing optimism among investors.
Coin7-Day Change (%)Market Share (%)Bitcoin (BTC)23.2559Ethereum (ETH)31.0111.4XRP49—Zcash (ZEC)64—Altseason trackers hold steadyThe concept of an altseason—when alternative cryptocurrencies outperform Bitcoin over an extended period—is closely monitored by indexes from CoinMarketCap and BlockchainCenter. These platforms set clear thresholds for defining such periods.
CoinMarketCap establishes an altseason as a period when at least 75 of the top 100 cryptocurrency assets outperform Bitcoin over a rolling 90-day span. If 25 or fewer outperform BTC, the tracker signals a “Bitcoin season” instead.
BlockchainCenter uses a similar methodology, analyzing performance among the top 50 coins. For an altseason declaration, at least 75% of these need to surpass BTC over 90 days. As of the latest readings, the BlockchainCenter index stood at 43, well below the altseason threshold.
BlockchainCenter reported that more than 332 days have passed since the last recognized altcoin season. Both indexes exclude stablecoins and asset-backed wrapped tokens from their calculations.
Mini dictionary: BlockchainCenter, an analytics platform specializing in cryptocurrency metrics, provides various indices to measure performance and market trends in digital assets. Its Altcoin Season Index is widely referenced to gauge market cycles between Bitcoin and alternative cryptocurrencies.
Market signals and expert outlooksOn August 24, Glassnode, an on-chain analytics company, wrote that the altcoin market “has entered a state of optimism,” noting that 85% of altcoins showed funding rates above their historical average. This marked the highest level since Bitcoin reached its all time highs. Glassnode added that such situations have previously persisted for several weeks during earlier altcoin seasons.
Glassnode observed, “In an alt season, these conditions can last for many weeks,” describing the current phase as marked by heightened optimism among altcoin holders.
Arthur Hayes, co-founder of BitMEX—a major cryptocurrency derivatives trading platform—expressed a bullish stance on Ethereum. In a conversation with Laura Shin, Hayes explained that ETH remains his second-largest holding after Bitcoin. He argued that Ethereum could rally above $3,000 and potentially exceed $5,000, given its perceived lower risk compared to smaller altcoins.
Hayes further remarked on the Altcoin Daily podcast that he expects ETH to outperform other large-cap assets during the current liquidity-driven phase, possibly pushing Bitcoin’s market dominance down toward 40%.
Arthur Hayes suggested Ethereum’s recent price action “leaves significant room to catch up,” emphasizing its potential to lead altcoins while moderating portfolio risk compared to less established tokens.
Lingering caution amid optimismDespite recent market enthusiasm, traders and analysts remain cautious. In June, Cryptopolitan reported that altcoin selling hit all-time highs, with the season index at 49. On June 30, more than 84% of altcoins were trading below their 200-day moving averages, marking the longest sustained downturn since the 2022 bear market.
CryptoQuant analyst Darkfrost pointed out that altcoins have remained highly correlated with Bitcoin, so even strong BTC rallies do not necessarily translate into sustained gains across the entire altcoin sector. This pattern has favored brief rallies in a small number of liquid assets, rather than widespread growth among alternative coins.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
TLDR ETH is trading at $2,443.79, up 1.34% over the past 24 hours. The key resistance level to watch sits at $4,811.71. Analyst JAVON MARK says ETH has gained roughly 55% since reclaiming support. Whales withdrew more than 54,700 ETH, worth about $121 million, from Binance. A breakout above resistance could open the door toward $8,500. Ethereum is trading at $2,443.79 as of August 23, 2026. That’s up 1.34% over the past 24 hours.
The price move comes after ETH reclaimed a support level. Market watchers are now looking at the next resistance test.
Trading volume for the day sits at $17.11 million. Ethereum’s market cap stands at $294.76 billion.
Crypto analyst JAVON MARK shared his view on X. He said Ethereum has extended its recovery after reclaiming a post-breakout support zone.
$ETH surged approximately 55% off of this post breakout support.
The breakout target it can be headed to retest is at a precise technical level of $4,811.71 and prices could be set this time to break above.
According to Mark, ETH has gained roughly 55% from that support level. He points to this as a sign of renewed buying pressure.
Mark’s post suggests bulls are working to build a stronger upward structure. He flagged $4,811.71 as the next key resistance for Ethereum.
Whale Activity Picks Up Onchain tracker Lookonchain also posted new data on X. The account reported that Ethereum whales have pulled large sums from Binance in recent weeks.
One wallet, labeled 0x2d59, withdrew 30,000 ETH worth $67.42 million. That brings the same wallet’s three-week total to 120,000 ETH, worth $237.7 million.
Abraxas Capital also withdrew ETH from Binance. The firm pulled 18,000 ETH, valued at $39.56 million.
A newer wallet, 0x2261, withdrew 6,704 ETH worth $14 million. Combined, these transactions add up to over 54,700 ETH worth about $121 million.
Withdrawals from exchanges often mean holders plan to keep coins rather than sell. Traders track this activity as a sign of demand.
What the $4,811 Level Means The $4,811.71 mark is described as the resistance standing between Ethereum and further gains. A clean break above it would confirm bullish structure.
Ethereum Price on CoinGecko If ETH clears that level, some analysts point to $8,500 as the next target. That target depends on the breakout holding.
Failure to break through could lead to consolidation instead. Ethereum may trade sideways or slip back if buyers lose momentum at resistance.
For now, Ethereum sits below the $4,811 mark while whale withdrawals continue. The combination of price action and exchange outflows remains the focus for traders watching ETH this week.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bithumb announced it will launch a new PROM Korean won (KRW) trading market, supporting Ethereum network-based deposits and withdrawals. Trading is scheduled to commence at 13:00 on August 24, with a base price of 3975 KRW. Deposits and withdrawals are expected to open within two hours of the announcement.
US crypto-related stocks show mixed performance in pre-market trading, with PURR rising over 3%.
According to market data from BIT (bit.com), U.S. pre-market crypto-related stocks were mixed, with: CRCL down 1.59%, MSTR down 0.36%, MARA down 1.15%, COIN down 1.37%, RIOT down 0.66%, BMNR up 0.51%, and PURR up 3.12%.
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He Yi Reminds: CZ Does Not Use WeChat, Beware of Scams
Binance co-founder He Yi has issued a statement noting that CZ does not use WeChat. The highly active "Binance Mall" WeChat groups and the fake CZ accounts within them are run by scammers promoting pyramid schemes. Please alert one another to guard against fraud.
6 minutes ago
Analysis: Bull-Bear Indicator Reaches Bullish Inflection Point, Signals of Market Recovery Strengthen
CryptoQuant analyst Darkfost has published a post noting that the bull-bear market indicator has just shifted into the early phase of a bull market. Though the indicator is not a flawless market signal, this shift confirms that market conditions have improved notably. This trend warrants close monitoring in the weeks ahead.
6 minutes ago
Iranian Foreign Ministry Spokesperson: Has Not Yet Received an Invitation to Join the Mecca Agreement
Iranian Foreign Ministry Spokesperson stated, "We have not yet received an invitation to join the Mecca Agreement, but we have put forward a dialogue proposal to these countries (Saudi Arabia, Bahrain, Turkey) regarding regional security issues."
6 minutes ago
Hong Kong-listed large language model concept stocks continue to decline, with Zhipu AI falling more than 11%.
According to Bitget market data, Hong Kong-listed large language model concept stocks have continued to slump. Zhipu fell over 11% intraday, while MINIMAX dropped more than 10%.
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Unitree Robotics has over 20 billion yuan wiped off its market cap in a single day.
C Yushu-W opened lower and trended downward today. By the close of trading, it was priced at 603.08 yuan, down over 10%, with a total market capitalization of 243.9 billion yuan. Calculated based on the previous trading day's closing price, Yushu Technology's market cap evaporated by more than 20 billion yuan intraday, and by over 200 billion yuan compared to its opening on the first day of listing.
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