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Ethereum’s 29% Price Rally Divides Whales Across the Market

A sophisticated phishing operation targeting Tornado Cash users has allowed attackers to steal 1,010 ETH through a compromised web interface. The incident occurred when a user accessed the protocol using an old bookmarked link, which directed them to a malicious version of the official site.

Phishing operation exploits expired Tornado Cash domainTornado Cash is an Ethereum-based coin mixing protocol designed to enhance transaction privacy. Following recent US sanctions imposed in 2022, its original team failed to renew the tornado.cash domain, leading attackers to acquire it and recreate a convincing replica of the protocol’s frontend.

According to sources including Wu Blockchain, the affected user inadvertently deposited funds into Tornado Cash’s legitimate smart contracts but interacted with a fake interface. This phony frontend secretly captured the private withdrawal notes necessary to access the deposited ETH.

Within 12 hours, the attackers used these notes to drain the user’s 1,010 ETH from the system. The assets remain in wallets linked to the attackers, and on-chain analysis suggests that nearly 4,000 ETH may have been stolen via similar phishing tactics over the last year.

The event highlights the significant risk posed by expired domains and outdated bookmarks. Even if a project’s core code remains intact, web-based user interactions can expose sensitive information if malicious actors control the user interface.

Attackers took advantage of an expired Tornado Cash domain, luring users to a cloned interface that captured withdrawal credentials and enabled them to siphon more than 1,000 ETH in a single incident.

Loss of control over the tornado.cash domain occurred after the original team was sanctioned and was unable to maintain its web presence. This provided an opportunity for cybercriminals to purchase the domain and conduct imitative phishing operations.

Users relying on older or bookmarked links remain highly vulnerable, as they may unknowingly supply information to interfaces that are no longer operated by the original team.

Unlike typical smart contract attacks, this incident did not require compromising the protocol itself. The adversaries simply harvested the private withdrawal notes as users interacted with the fake site, granting them direct access to victims’ funds.

Mini dictionary: Withdrawal note, a unique piece of information provided to users by mixer protocols like Tornado Cash to permit fund recovery; disclosing it to a third party enables access to the related deposit.

Suspicious on-chain activity adds complexityOn-chain researcher Specter reviewed transactions tied to the victim and noted that the individual’s wallet moved 73 BTC—about $4.6 million—out of the privacy-focused Whirlpool mixer in the weeks leading up to the theft. Later, parts of these funds transferred to Ethereum and eventually reached the compromised Tornado Cash interface.

The user claimed previous exposure in a Coldcard-related hacking incident, allegedly prompting him to move funds from Bitcoin to Ethereum. However, Specter questioned the multiple transfers between privacy mixers before the phishing attack occurred.

Chain analysis revealed large movements of Bitcoin through Whirlpool and then into Ethereum, ultimately leading to the Tornado Cash phishing operation, raising questions about both the source and the intent behind the flows.

Specter also identified links between the wallet in question and Telegram communities dedicated to discovering or brute-forcing private keys. This raises further doubts around the funds’ original ownership, but no definitive link to other crimes has been established.

The case underscores the broader threat posed by inactive crypto domains, which may remain linked to obsolete bookmarks long after the original teams lose control.

IncidentMethodAmount StolenPeriodThis attackMalicious frontend, expired domain1,010 ETHSingle incidentAll similar attacks (past year)Domain phishing4,000 ETH12 monthsUltimately, the attack stemmed entirely from weaknesses in user behavior and interface control rather than a flaw in Tornado Cash’s underlying smart contract infrastructure.

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.

Bearish crypto traders absorbed $1.06 billion in short liquidations over 24 hours as the total crypto market capitalization rose 3.7%. 

Liquidations across the market reached $1.24 billion. The wipeout caught 141,191 traders, while long positions gave up only $174.41 million. 

Bitcoin Drove the Bulk of Short LiquidationsBitcoin (BTC) alone drove $789.68 million of the losses after climbing 8.4% to $74,998. The cryptocurrency touched an intraday high of $75,744 early Friday, its strongest print since May 27. 

That peak stopped narrowly below the True Market Mean of $75,800. Ethereum (ETH), followed by $206.88 million in liquidations, while XRP (XRP) added $41.94 million.

Crypto Liquidations on August 21. Soure: CoinglassAccording to BeInCrypto Markets data, XRP led the large caps with a 16.2% daily gain to $1.26. Ethereum climbed 10.1% to $2,315, comfortably ahead of Bitcoin’s move.

The XRP price rally extends one of the token’s strongest stretches since 2020. Meanwhile, sentiment has swung from fear to greed in a matter of days. Perspective still matters. 

Despite an 18.4% weekly gain, Bitcoin trades roughly 40% below its $126,080 record set on October 6, 2025. Whether spot buyers replace the liquidated shorts will decide if this holds.

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Bears Keep Paying for a Rally That Started in WashingtonThe latest rally traces back to the bond market. The Treasury doubled its long-end debt buybacks on August 19, raising each operation to at least $4 billion.

That initial move caught bearish traders off guard. As Bitcoin rose, short positions hit liquidation levels, forcing exchanges to buy BTC to close them. Those forced purchases pushed prices higher, triggering more liquidations and creating a self-reinforcing squeeze.

The loop has now run for three sessions. BeInCrypto reported that shorts lost $1.3 billion in 60 minutes as BTC climbed 2.5%. Yesterday, short liquidations reached $2.74 billion as 172,202 traders got wiped out.

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Ethereum price today: $2,320Short traders are opening new positions, and profit-taking is rising following large exchange inflows.Bulls are defending the rally as whale accumulation rises and exchange outflows increase.ETH is targeting the $2,431 resistance after its recent rally.​Ethereum (ETH) continued its rally on Thursday as capital gradually flowed back into the derivatives market after the recent leverage flush.

ETH open interest, which is the total worth of outstanding contracts in a derivatives market, has risen by 270K ETH to 13.2M ETH over the past few hours. Funding rates also spiked to 0.011%, their highest level since late May, indicating more longs are betting on a continuation of the upside.

ETH Funding Rates. Source: CoinglassThe move comes as the crypto market recorded its largest short liquidations in history on Wednesday, worth roughly $3 billion. ETH short liquidations represented about 40% of that figure. Following the wipeout of short positions, Ethereum's open interest dropped to 12.93 million ETH, its lowest level since March 8, before the modest recovery.

A few whales have begun opening short positions in anticipation of a potential correction following the squeeze, according to Lookonchain data. Wallets 0x004e and 0x2E88 opened 20K and 9.3K ETH short positions, respectively.

Others are booking profits by distributing tokens through centralized exchanges. The move is evident in the Exchange Inflow, which shows two recent key spikes, indicating investors are moving coins from private wallets to exchanges to book profits as ETH has posted a 20% gain since Wednesday.

ETH Exchange Inflows. Source: CryptoQuantOn the other end of the spectrum, whales are defending the rally, with fresh accumulation. Whale wallets 0x2d59, Abraxas Capital, and newly created wallet 0x2261 withdrew 30K, 18K and 6.7K ETH from Binance, respectively.

The Exchange Outflow metric has also surged higher, showing rising buying pressure to counter the selling.

ETH Exchange Outflow. Source: CryptoQuantExchange-traded fund (ETF) investors also supported the rally as US spot ETH ETFs pulled in $189.1 million on Wednesday, their largest single-day inflow since last October, per SoSoValue data.

Ethereum Price Forecast: ETH eyes $2,431 resistance after recent price jumpOn the daily chart, ETH is extending a strong bullish phase above its key Exponential Moving Averages (EMAs). Price holds well above the 200-, 100-, 50- and 20-day EMAs at $2,177, $1,932, $1,961 and $1,902, reinforcing a supportive backdrop.

Momentum is stretched, with the 14-day Relative Strength Index (RSI) at 84 and the Stochastic Oscillator (Stoch) at 92, hinting at overbought conditions that could slow the advance without yet signaling a clear reversal.

On the topside, immediate resistance is seen at the horizontal barrier near $2,431, where a clear break would open the way to further gains.

ETH/USDT daily chartOn the downside, initial support sits around the 200-day EMA and the nearby horizontal level at $2,172, forming a first demand cluster. A deeper pullback would find additional support around the 20-day EMA and horizontal line at $1,961, followed by the 100- and 50-day EMAs, before stronger structural floors at $1,809, $1,701 and $1,507.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

After being stuck in a narrow consolidation between $63,000 and $65,000 throughout August, Bitcoin has now emerged. In a single session, Bitcoin increased by nearly 4% to about $71,950, but the move put the cryptocurrency squarely in its most crucial resistance zone. Technically, the breakout is significant.

Bitcoin's sharp surgeBitcoin successfully recovered the intermediate average near $66,500 after clearing the short-term moving averages between $64,200 and $64,900. The candle carries significantly more participation than prior recovery attempts, as evidenced by the trading volume's sharp expansion during the move. 

BTC/USDT Chart by TradingViewThe issue is the $71,500 black long-term moving average. The $71,500–$72,500 range is the main barrier separating the current recovery from a more general trend reversal because BTC is currently testing this level almost exactly. Momentum has already been stretched. The daily RSI surged to about 79, clearly moving into overbought territory. 

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This greatly increases the likelihood of volatility and profit-taking following such a swift move, but it does not necessarily imply an instant reversal, especially during a breakout. The structure of Bitcoin would be significantly improved by a daily close above $72,000. The previous May consolidation was between $77,000 and $82,000, and the next pertinent targets would be around $75,000. 

$66,500 becomes the first significant support if BTC is unable to maintain the breakout. The clustered averages between $64,000 and $65,000 below it indicate the crucial region that bulls must protect. The conversion of $71,500 from long-term resistance to support is now necessary for confirmation of Bitcoin's strongest bullish signal in months. 

Ethereum is even sharperCompared to Bitcoin, Ethereum has produced an even more aggressive breakout, breaking through several resistance levels in a single session to reach roughly $2,290. The move significantly altered ETH's technical structure. Ethereum broke above the short-term moving averages around $1,875–$1,940 after being compressed below $1,950 for weeks. It then attacked the long-term moving average around $2,125 right away. 

ETH/USDT Chart by TradingViewWith the biggest volume spike since the June sell-off, the asset has now firmly moved above that level. Thus, the most crucial level to watch from this point on is $2,125. In the past, this moving average served as a significant dynamic barrier during the overall decline. If it were held above, there would be much more evidence that Ethereum is moving away from its current bearish structure.

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Additionally, there is room for the next major supply zone. ETH previously consolidated between $2,300 and $2,400 in April and May, indicating that the current price has already reached a level where sellers may become significantly more active. 

A clean break through $2,400 might reveal the $2,500–$2,600 range. Momentum is the current issue. The RSI has surged to about 83, well above the typical overbought threshold. Even if the larger breakout is still valid, ETH has moved hundreds of dollars without creating intermediate support, raising the possibility of a steep retracement. 

The first significant support is approximately $2,125. The next defensive zone is formed below that by $1,935 and $1,875. Price, volume, and the moving-average structure all moved in tandem, making Ethereum's breakout technically convincing. 

But holding onto $2,125 after such a dramatic one-day surge is far more important than immediately extending the rally. A successful retest would provide a much more solid basis for the breakout. 

Hyperliquid turns 180Among the major altcoins, Hyperliquid has produced one of the best breakouts, rising about 3.4% on the current daily candle and momentarily surpassing $74. The action pushes HYPE back toward the upper limit of the trading range that was established following its rally in June. There has been a significant improvement in the technical structure. 

For the majority of August, HYPE recovered from the $52–$54 range, where buyers were able to hold the rising long-term moving average close to $51.60. The price then recovered the orange average around $57.30, the short-term average around $59.10, and—above all—the blue dynamic resistance around $60.50. 

HYPE/USDT Chart by TradingViewThus, the most recent increase toward $72 is not just a typical bounce. HYPE has returned to the $70–$76 supply zone, which has caused multiple reversals since June, after clearing nearly all of the chart's major moving averages. Additionally, volume increased during the breakout, offering some evidence that the move is supported by real participation. 

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But now, HYPE is dealing with the same issue that frequently arises after vertical advances: momentum has been stretched. With a daily RSI of roughly 74, the asset is in overbought territory. The current immediate resistance is between $74 and $77. HYPE would be in a position to reach a new high and possibly aim for the psychological $80 level if it broke above that range. 

The bullish setup would not be instantly invalidated in the event of a failure. The much stronger $59–$61 cluster follows the first support, which is located between $66 and $68. Despite the increased short-term retracement risk, the larger technical structure favors buyers as long as HYPE stays above that latter region.

Near Protocol hides potentialAlthough Near Protocol is making an effort to improve, its technical standing is still far inferior to that of HYPE. After making a strong comeback from the $1.58–$1.60 range, NEAR is currently trading at about $1.73, with the daily RSI rising to about 54. 

After weeks of falling prices, the rebound has moved NEAR above its short-term moving average, which is close to $1.69. This is the first positive development. Nevertheless, the move cannot turn into a confirmed reversal due to a dense resistance cluster just above the current price.

NEAR/USDT Chart by TradingViewThe range of three significant moving averages is approximately $1.78 to $1.80. The long-term black average is roughly between $1.78 and $1.79, the orange average is about $1.78, and the blue average is close to $1.80. Before the current move can become structurally significant, NEAR must break through this entire cluster. 

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Because the asset lost it during the late-July decline, that area is especially significant. Therefore, recovering $1.80 would invalidate a portion of the recent bearish structure and simultaneously reclaim multiple moving averages. The next resistance level is between $1.90 and $2.00 after $1.80. 

Although NEAR is still far below the extreme $2.80–$3.00 highs noted during the June volatility spike, a sustained breakout there might reopen the path toward $2.10–$2.20. $1.60 is still the crucial support on the decline. Sellers appear to be having difficulty extending the decline based on repeated defenses of this area, but another breakdown would reveal about $1.50 and possibly the previous accumulation region around $1.40.

BlackRock-linked clients acquired $122 million worth of Ethereum, representing their largest ETH purchase in seven months, according to blockchain intelligence firm Arkham. This sizable investment comes amid rising institutional interest and as more regulated products facilitate easier access to digital assets like Ethereum.

Significant purchase emerges amid changing institutional landscapeArkham identified the $122 million transaction on-chain, noting that the previous peak in Ethereum buying activity tied to BlackRock-linked clients occurred on January 15, when a $149 million purchase was recorded. The intelligence firm explained that the transactions reflect client activity associated with BlackRock but do not confirm direct corporate investment by BlackRock itself.

This distinction matters for interpreting the scope of institutional participation. BlackRock’s direct role in these transactions remains unverified, but the activity serves as a notable indicator of ongoing institutional engagement with Ethereum at scale. The actual investment purposes behind these large movements of funds were not disclosed and remain unknown, leaving analysts to consider on-chain flows alongside regulatory filings.

Arkham highlighted that observed blockchain activity should be viewed as a signal of demand from clients linked to BlackRock and not a confirmation of a proprietary $122 million Ethereum purchase by BlackRock itself.

The timing of this purchase adds significance, as it coincides with the growing presence of institutional products designed to track Ethereum. This context makes it useful for investors monitoring on-chain activity as a measure of potential institutional sentiment.

Growth in regulated ETH investment productsInstitutional pathways to Ethereum continue to expand, anchored by BlackRock’s iShares Ethereum Trust ETF (ETHA), which reported approximately $5.65 billion in net assets as of August 10. The ETF allows investors to gain exposure to Ether via traditional brokerage accounts, removing the need for direct crypto custody.

In February 2026, BlackRock introduced the iShares Staked ETH Trust ETF (ETHB), offering another route for investors seeking exposure to ETH and staking rewards. These vehicles aim to make it simpler for institutions to participate in Ethereum markets without navigating native blockchain infrastructure.

ETF assets like ETHA’s holdings provide important context, as not all institutional activity is trackable via public blockchain data. Institutional capital entering through ETFs operates separately from direct on-chain purchases, indicating that a full picture of demand combines both channels. BlackRock’s significant ETF net assets reinforce the market’s interest, but do not necessarily relate to any one specific on-chain transaction.

Market outlook and monitoring institutional flowsFor investors, the reported $122 million Ethereum purchase raises questions about the broader direction of institutional demand. Analysts suggest that isolated large transactions may not represent a sustained trend, especially when buyer motivations and timing are unclear. Instead, ongoing tracking of ETH ETF inflows, repeated sizeable on-chain transfers and public disclosures could provide deeper insight into whether institutional accumulation is building momentum.

Institutional investors now monitor a range of data points, from transaction flows to changing regulatory frameworks and market product launches, in their analysis of Ethereum’s outlook.

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 now utilize privacy-first tools like CryptoAppsy to consolidate everything. Users can access real-time charts, smart price alerts, coin-specific news, and key macro data on a single screen without needing to create an account.

The presence of both large-scale on-chain transactions and billions in regulated ETF assets underlines the need for continuous monitoring of a variety of institutional indicators to assess Ethereum’s evolving market landscape.

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.

2 hours ago

South Korean cryptocurrency exchange Upbit announced it will add trading support for the Curve (CRV) digital asset, open KRW (South Korean Won) and USDT trading markets on the Ethereum network, with trading set to launch at 13:00 on August 21.

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1 hours ago

Whale codenamed "Set 10 Big Goals" has reopened short positions on Ethereum (ETH), currently shorting 1,211.812 ETH at an entry price of $2,346.83. It also added to its short positions on Bitcoin (BTC), bringing the total to 202.265 BTC at an entry price of $74,506.57. Previous reports showed the whale pocketed $20 million from long positions on August 19, while $6.28 million in profits were wiped out by its recent short trades, leaving a net profit of $13.72 million from the round of long-short transactions.

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According to on-chain analyst Ai Yi (@ai_9684xtpa), the total short position of the whale codenamed "Set 10 Big Goals First" has risen to $143 million, with an unrealized loss of $309,000. Details: 5x leveraged short position on Bitcoin (BTC) holds 1,449.968 BTC, worth around $108 million, at an average entry price of $74,570.99; 7x leveraged short position on Ethereum (ETH) holds 15,000 ETH, worth approximately $35.21 million, with an average entry price of $2,347.89.

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TRON has released GreatVoyage v4.8.2, codenamed Pyrrho, as a mandatory network upgrade, requiring node operators to update before 23:59 Singapore Time on Aug. 16 to avoid affecting block synchronization. The release was detailed in a TRON developer announcement that lists the upgrade’s core changes.

Mandatory upgrades in the GreatVoyage series are a regular part of operating the TRON network, and missing the deadline can cause a node to fall out of sync with the chain, with knock-on effects for the services that depend on it.

Ethereum compatibility at the virtual-machine level The headline change is TVM compatibility with Ethereum’s Pectra and Osaka upgrades, which adds the CLZ instruction and a secp256r1 signature-verification precompile, among other changes. The goal is to keep TRON’s virtual machine aligned with Ethereum tooling so that developers can port and run familiar smart-contract workloads.

For developers, the alignment reduces the work of porting applications and keeps TRON’s tooling within reach of the wider EVM ecosystem. The compatibility work matters for the network’s developer base because it lowers the friction of building across networks and broadens the range of code that can run on the chain.

Infrastructure and tooling changes Beyond the virtual machine, the release migrates the node’s JSON API from the fastjson library to Jackson, moves monitoring metrics from InfluxDB to Prometheus, and upgrades the TRON Event Plugin to version 3.0.0. Operators using the Event Plugin were instructed to upgrade the plugin before upgrading the node itself.

These changes are aimed at modernizing the tooling around the network rather than altering consensus rules, but they still require operators to plan the upgrade carefully to avoid service disruptions.

Why the timing matters TRON hosts a large share of stablecoin activity, including a substantial portion of USDT supply, so its upgrades carry outsize operational weight for the wallets, exchanges and indexers that depend on the network. Aligning the TVM with Ethereum’s latest upgrades positions the network to keep pace with the broader EVM ecosystem while giving developers a clearer path for cross-chain compatibility. It also signals that TRON intends to keep its smart-contract environment broadly aligned with Ethereum as both networks continue to evolve.

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Ethereum price traded near $2,300 on Thursday after a derivatives-driven breakout pushed ETH above its three-month range, though overbought signals now raise the risk of a pullback.

Summary

Ethereum price jumped about 20% from below $1,950, reaching an intraday high near $2,300. Daily RSI rose above 83, placing ETH deep inside overbought territory. The $2,300–$2,500 region remains the next major resistance zone. CoinGlass data shows liquidation clusters near $2,300 and below $2,200. Ethereum price action today According to data from crypto.news, Ethereum (ETH) price traded at about $2,285 at press time on Aug. 20, up 1.4% on the daily candle after briefly reaching $2,298.

The latest advance extended a breakout that began Wednesday, when ETH surged from below $1,950 and cleared several resistance levels in a matter of hours. At its highest point, the move represented a gain of roughly 20%.

Before the rally, Ethereum had spent most of August between $1,850 and $1,950. Repeated attempts to break above the upper end of that range failed, allowing short positions to build around the psychological $2,000 level.

A sudden increase in spot and derivatives buying changed that structure. ETH moved through $2,000, $2,100, and $2,200 with few sustained pauses, forcing traders with bearish leveraged positions to buy back the asset as prices rose.

The initial rally produced a long upper wick near $2,330, showing that some holders took profits above $2,300. Buyers nevertheless kept ETH above $2,250 through Thursday, preventing a deeper reversal during the first consolidation period.

What is driving the Ethereum rally? The breakout coincided with a wider cryptocurrency rally after the U.S. Treasury announced an increase in its long-dated bond buyback operations.

On Aug. 19, the Treasury said it would raise the maximum size of liquidity-support buybacks for 10-to-30-year nominal coupon securities from $2 billion to at least $4 billion per operation. The change will take effect on Sept. 9 and remain in place through Nov. 4, according to the official announcement.

The program is intended to support liquidity in older Treasury securities rather than provide direct stimulus to cryptocurrency markets. However, some market participants interpreted the larger purchases as supportive of financial liquidity and risk assets.

MarketWatch linked the crypto rally to the announcement as longer-term Treasury yields declined. Ethereum reached its highest price since May while Bitcoin moved above $70,000 during the same risk-on move.

Derivatives positioning then added momentum. Notably, Ethereum saw $2.55 billion in taker buy volume during one hour, while a wave of short liquidations forced additional buying into a rapidly rising market.

Reported liquidations included a roughly $49 million position held by one highly ranked trader. Forced closures can accelerate a rally because exchanges automatically buy the underlying asset or close bearish contracts when collateral falls below required levels.

U.S. spot Ethereum ETFs also recorded $189.1 million in daily net inflows on Aug. 19, according to SoSoValue data. Positive ETF flows offered evidence of demand through regulated U.S. products alongside the faster derivatives move.

Political developments added to the broader improvement in crypto sentiment. President Donald Trump called on Congress to advance federal digital asset market structure legislation following an Aug. 19 White House event attended by executives from several crypto companies.

The Securities and Exchange Commission has also proposed a framework covering certain registered crypto asset offerings. Both developments may affect the long-term regulatory outlook, although neither represents a completed change to federal law.

Ethereum faces resistance between $2,300 and $2,500 Ethereum’s daily chart shows a clear break above the Ichimoku cloud and its main trend lines. ETH traded about 9% above the Tenkan-sen at $2,098 and 10% above the Kijun-sen near $2,078, reflecting the speed of the move.

Ethereum price daily chart — Aug. 20 | Source: crypto.news The cloud’s upper boundary sits around $2,088, making the $2,075–$2,100 area an important support region if ETH gives back part of its rally. Holding that zone would preserve the broader breakout even if the price retreats from $2,300.

The nearest support on shorter time frames sits between $2,220 and $2,250, where buyers repeatedly entered after the initial spike. A break below that area could expose $2,100, followed by the former range ceiling around $1,950–$2,000.

Momentum has become stretched, however. The daily relative strength index reached 83.25, well above the conventional overbought threshold of 70 and its moving average near 57.

An overbought RSI does not guarantee an immediate decline, particularly during a strong breakout. It does show that ETH has risen much faster than its recent average and may require consolidation before making another sustained move.

The 4-hour Bollinger Bands tell a similar story. Ethereum traded near $2,288, slightly above the upper band at about $2,283, while the middle band remained near $1,998. The wide distance between the price and the middle band shows how far ETH has moved from its recent mean.

Ethereum price 4-hour chart — Aug. 20 | Source: crypto.news A daily close above $2,300 would open the path toward $2,400 and then $2,500. The latter level carries added importance because it sits near longer-term moving averages and a previous supply region visible on the weekly chart.

Liquidation map raises volatility risk near $2,300 The three-day CoinGlass liquidation heatmap shows ETH approaching a series of leveraged positions between $2,300 and $2,350. A move into that zone could trigger further short closures, providing fuel for another brief extension.

Ethereum liquidation chart | Source: CoinGlass Liquidity is also building below the market. Visible clusters sit around $2,220, $2,180, and $2,100, while the largest concentration remains near $1,900.

Liquidation levels do not act as guaranteed price targets. They identify areas where leveraged positions may be forced to close, which can attract price during periods of high volatility.

Because much of the liquidity below $2,000 accumulated before the breakout, a complete return to that region would require ETH to lose several newly reclaimed supports. The more immediate risk is a retest of $2,220 or $2,100 as traders reduce leverage and take profits.

Analysts see $2,500 as Ethereum’s next test Crypto analyst Michaël van de Poppe said Ethereum’s move confirmed that the market was in a bullish phase, but he did not expect the asset to continue rising in a straight line.

Van de Poppe said ETH had reached approximately 0.033 BTC against Bitcoin and described pullbacks from the level as potential buying opportunities. His ETH/BTC chart showed nearby support around 0.032 and a lower zone close to 0.0305.

An absolutely amazing move of $ETH.

I don't think it will continue to run in one go, but it's quite clear that we're currently in a bull market.

Swept all the way towards 0.033 BTC and very likely retraces are for buying. pic.twitter.com/Fw7ZeM10UW

— Michaël van de Poppe (@CryptoMichNL) August 20, 2026 Market commentator Ted Pillows identified $2,500 as Ethereum’s next resistance. He argued that reclaiming the level would reduce the likelihood of ETH returning to a new cycle low, while a rejection would keep the lower part of the range relevant.

The two views align with the visible price structure: Ethereum has shifted from consolidation into an uptrend, but the asset is now approaching resistance with unusually extended momentum.

For U.S. investors, Treasury yields, the dollar, and spot ETF flows may determine whether the breakout develops into sustained demand. A pause near $2,300 would allow technical indicators to cool, while a high-volume close above $2,500 would provide stronger confirmation that buyers can absorb profit-taking after the short squeeze.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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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August 20 Update: #Bitcoin ETFs: 1D NetFlow: +6,603 $BTC(+$472.2M)🟢 7D NetFlow: +11,149 $BTC(+$797.21M)🟢 #Ethereum ...

https://crypto.news/what-is-hyperliquid-how-does-it-work/

A recent surge in the prices of HyperliquidX and Ethereum has captured attention in the cryptocurrency markets. HyperliquidX has seen an impressive 27% increase, while Ethereum has risen by 19%. This performance stands out against Bitcoin’s relatively stable price position, suggesting a shift of capital towards higher-risk crypto assets. The rise in these assets’ prices may indicate a broader market interest in diversifying beyond Bitcoin, as participants seek opportunities in other major cryptocurrencies.

Markets are reflecting this momentum, particularly in the Hyperliquid price prediction market. The probability of Hyperliquid reaching $100 by the end of 2026 has seen a substantial increase, now priced at YES, up from 16% just 24 hours ago. This suggests that market participants are increasingly optimistic about Hyperliquid’s potential to reach significant milestones within the year. This optimism appears to be driven by Hyperliquid’s recent performance and broader market trends favoring alternative cryptocurrencies.

The notable price movements in Hyperliquid and Ethereum indicate that participants are responding to the current positive sentiment surrounding these assets. The shift in capital could be indicative of a growing confidence in the potential for higher returns in these markets compared to more established assets like Bitcoin.

Key Takeaways HyperliquidX’s 27% price increase suggests strong market interest and a shift towards higher-risk assets. Ethereum’s 19% rise supports the view of increasing participant interest in alternative cryptocurrencies. Market pricing indicates a significant rise in confidence, with Hyperliquid’s $100 target by year-end now reflecting 42.5% YES. What to Watch Monitor developments related to HyperliquidX, as any major news or partnerships could further influence its price trajectory. Additionally, watch for potential regulatory developments or institutional endorsements, which could impact confidence levels and market dynamics. Changes in sentiment or unexpected market events could alter the current optimistic outlook for Hyperliquid reaching its $100 target by December 31, 2026.

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Term Structure

Contract Odds Δ since publish Volume 24h December 31 42.5% — — View market → January 1 2027 3.7% — — View market → January 1 2027 3% — — View market → January 1 2027 73.5% — — View market → January 1 2027 5.5% — — View market → January 1 2027 3.1% — — View market →

The crypto market is now on an explosive price run, with Bitcoin, Ethereum, and XRP hitting multi-week highs after several months of disappointing performance.

Notably, the trigger happened yesterday, August 19, as trading activity surged across top exchanges like Binance. In particular, combined spot and perpetual trading volume of BTC, ETH, and XRP reached $46.6 billion, according to CryptoQuant data.

The latest spike marked the highest combined trading volume since June 5, when activity reached roughly $59.4 billion. Yet, the August 19 total remained about 21.5% below that peak as Bitcoin broke higher and regained momentum.

Perpetual Markets Drive Trading Surge Perpetual contracts accounted for most of the activity, generating about $42.7 billion, or 91.7% of the combined volume.

Bitcoin perpetual volume led the market at approximately $22 billion, followed by Ethereum at $20 billion. XRP perpetual volume reached roughly $718 million.

Spot markets added another $3.85 billion. This included about $1.96 billion in BTC volume, $1.69 billion in ETH volume, and $198 million in XRP volume.

Essentially, perpetual trading activity was roughly 11 times larger than spot volume, highlighting the dominant role of derivatives in the latest market move.

Chart for Bitcoin, XRP, Ethereum Spot and Perpetual Volume | CryptoQuant Bitcoin Breaks Above $71,500; XRP and Ethereum Follow The surge in trading activity coincided with a sharp Bitcoin rally. BTC broke above $70,000 today for the first time since June. Notably, just yesterday, it traded at $64,400 but has soared by more than 12% to $72,307 at press time.

The increase in volume suggests the breakout was due to stronger market participation, particularly in leveraged perpetual markets.

Meanwhile, the momentum spilled into the altcoin market almost immediately, with many coins posting more impressive gains than BTC.

For instance, Ethereum has surged by 19.25% over the past day, reaching $2,285 and nearly erasing all the losses recorded over the last 90 days.

XRP has also surged by 16%, reaching $1.15 after touching $0.9800 last week. However, its 90-day performance still remains deeply negative, at a 15.35% decline.

Key Factors Helping Crypto Surge Notably, the acceleration in crypto trading activity follows changes in the broader macroeconomic backdrop.

Yesterday, U.S. President Donald Trump welcomed top crypto and financial leaders for a meeting on the future of digital assets. These included executives from Ripple, Coinbase, Chainlink, Kraken, Robinhood, and Nasdaq, making the gathering a “who’s who” of finance, crypto, and technology.

Trump said his administration had “ended the war on crypto” and outlined its digital-asset agenda, including the Strategic Bitcoin Reserve, Digital Asset Stockpile, stablecoin legislation, and efforts to modernize financial rules for blockchain-based markets.

Meanwhile, the U.S. Treasury announced plans to at least double liquidity-support buybacks for longer-dated Treasury securities, increasing the previous maximum of $2 billion per operation to at least $4 billion, beginning September 9.

Longer-term Treasury yields subsequently declined, while the U.S. dollar weakened. U.S.-Canada trade tensions also showed signs of easing after Washington delayed planned 50% tariffs on Canadian imports for three days as negotiations continued.

With Bitcoin now trading above $72,200, stronger trading activity, a major BTC breakout, and shifting macroeconomic conditions could keep volatility high across the BTC, ETH, and XRP markets.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

BARRONS: Bitcoin, XRP, and Ethereum Surge. What Trump's Clarity Act Drive Means for Cryptos

Ethereum surged 18% intraday as spot trading volume jumped sharply across major global exchanges, putting ETH back at the center of the market’s risk-on move.

Market data showed ETH trading near the $2,500 level during the rally, with spot volume reportedly rising about 400% compared with the prior 24-hour average.

That is a major move, but it needs a careful read.

A sudden volume spike can reflect strong demand, but it can also include forced positioning, short covering, momentum chasing, exchange rebalancing, and fast-moving liquidity. The next question is whether ETH can hold the move once the first wave of volume cools.

TL;DR Ethereum rose 18% intraday. Spot trading volume reportedly jumped around 400%. The move should not be treated as a guaranteed trend shift until follow-through appears. Why Volume Matters Price can move on thin liquidity.

Volume tells us whether more market participants were involved.

An 18% move with weak volume might look fragile. An 18% move with a sharp volume spike suggests broader participation. That does not guarantee the rally continues, but it makes the move harder to dismiss as a random wick.

For Ethereum, the volume surge is particularly important because ETH had been competing for attention with Bitcoin’s push toward $70,000 and renewed ETF inflows.

A strong ETH session reminds the market that Ethereum can still lead risk appetite when conditions line up.

Spot Demand Is The Key Question The most important part is whether the move was spot-led.

Spot volume suggests actual buying and selling of ETH rather than only derivatives positioning. If spot buyers are driving the rally, that can be more durable than a move based purely on leveraged shorts getting liquidated.

But the distinction is not always clean.

Spot volume can rise because arbitrage desks, market makers, and derivatives hedgers are responding to futures activity. Crypto markets are deeply connected, and price action often moves across spot and derivatives at once.

That is why follow-through matters.

Ethereum Has Multiple Catalysts In The Background Ethereum’s rally did not happen in isolation.

The market is also watching ETF inflows, corporate ETH treasury activity, staking economics, tokenized asset growth, and broader risk appetite. ETH can benefit when traders rotate beyond Bitcoin into assets with higher beta and stronger ecosystem narratives.

Ethereum also has a different institutional story from BTC.

Bitcoin is the scarcity and macro asset. Ethereum is the smart contract, stablecoin, DeFi, tokenization, and staking infrastructure asset. When investors become more comfortable taking crypto risk, ETH can move quickly.

Do Not Turn A Volume Spike Into A Forecast A 400% volume jump is meaningful, but it is not a prediction.

Markets can surge on heavy volume and still retrace. Traders may take profits. Leverage may rebuild too quickly. Macro conditions may shift. Bitcoin may fail at resistance and drag the market lower.

The responsible read is that ETH had a powerful intraday session backed by unusually heavy spot activity.

That is bullish in the moment. It is not proof of a permanent breakout.

What To Watch Next The next signals are simple: does volume stay elevated, and does price hold higher levels?

If ETH consolidates near the rally zone with continued spot interest, the move may develop into a stronger trend. If volume fades and price slips back quickly, the surge may look more like a fast squeeze and momentum event.

ETF flows will also matter.

If Ethereum ETFs keep seeing inflows alongside spot buying, the institutional story becomes stronger. If ETF demand stays small, the rally may remain mostly crypto-native.

For now, Ethereum has delivered the kind of move that makes traders pay attention again.

The next test is whether buyers stay after the spike.

This article is based on public Ethereum market data for August 20, 2026.

This article was written by the News Desk and edited by Samuel Rae.

Kripto para piyasasında yükseliş yaşanırken Zcash (ZEC) için de dikkat çeken bir gelişme gündeme geldi. Grayscale Investments, Zcash Trust için ABD Menkul Kıymetler ve Borsa Komisyonu’na (SEC) dördüncü kez güncellenmiş S-3/A kayıt beyanını sundu. Şirket, ürünün gerekli onayların alınmasının ardından NYSE Arca’da ZCSH koduyla işlem görmesini hedefliyor. Bu gelişme, ZEC’e yönelik kurumsal yatırımcı erişiminin genişlemesi açısından önemli bir adım olarak değerlendiriliyor.

Grayscale Zcash Trust İçin Yeni Adım Grayscale’in başvurusu, yatırımcıların ZEC fiyat hareketlerine borsa üzerinden erişebilmesini amaçlıyor. Trust’ın temel varlığı doğrudan Zcash ağının yerel tokenı ZEC olacak. Böylece yatırımcıların ZEC’i doğrudan satın alıp saklamasına gerek kalmadan kripto varlığın fiyat performansına maruz kalması hedefleniyor. Başvurunun yürürlüğe girmesi ve gerekli listeleme sürecinin tamamlanması halinde Trust’ın NYSE Arca’da ZCSH sembolüyle işlem görmesi planlanıyor.

İlginizi Çekebilir: Ethereum 2.000 Doların Üzerine Çıktı! Yükseliş Devam Edecek mi?

Grayscale’in sunduğu belgelerde ürünün operasyonel yapısına ilişkin ayrıntılar da yer aldı. Coinbase, Trust için prime broker olarak görev yaparken Coinbase Custody Trust Company ZEC varlıklarının saklama hizmetini üstlenecek. Bank of New York Mellon ise transfer acentesi ve yönetici olarak süreçte yer alacak. Bu yapı, Grayscale’in Zcash odaklı yatırım ürününü kurumsal yatırımcılara daha erişilebilir hale getirme hedefini ortaya koyuyor.

DCG İştirakinden 200 Bin ZEC Hamlesi Başvurudaki en dikkat çekici detaylardan biri ise Digital Currency Group ile bağlantılı bir iştirakle ilgili oldu. Söz konusu iştirak, Trust aracılığıyla yaklaşık 200 bin ZEC satın alınmasına yönelik görüşmeler yürütüyor. Ancak belgelerde bu düzenlemenin henüz bağlayıcı olmadığı özellikle belirtiliyor. Bu nedenle potansiyel yatırımın gerçekleşip gerçekleşmeyeceği ve piyasaya nasıl yansıyacağı yakından takip edilecek.

Grayscale’in Zcash yatırım ürününü NYSE Arca’da listeleme planı, ZEC açısından kurumsal erişimin genişlemesi anlamına gelebilir. Ürünün onaylanması ve işlem görmeye başlaması halinde yatırımcıların ZEC’e geleneksel borsa kanalı üzerinden erişmesi kolaylaşabilir. Bu gelişme, özellikle kurumsal yatırımcı talebinin artması halinde ZEC fiyatı açısından yeni bir katalizör oluşturabilir. Ancak SEC sürecinin tamamlanması ve ürünün gerçekten listelemeye başlaması kritik önem taşıyor.

Değerlendirme Grayscale’in Zcash Trust için S-3/A başvurusunu güncellemesi, ZEC açısından dikkat çekici bir gelişme olarak öne çıkıyor. ZCSH koduyla NYSE Arca’da listelenmesi planlanan ürün, Zcash’e yönelik kurumsal erişimi artırma potansiyeline sahip. Bunun yanında yaklaşık 200 bin ZEC’lik potansiyel yatırım görüşmesi de dikkat çekiyor. Ancak sürecin henüz tamamlanmadığı ve yatırım anlaşmasının bağlayıcı olmadığı unutulmamalı.

Son dakika kripto para haberleri için hemen tıkla.

Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.

ABD Menkul Kıymetler ve Borsa Komisyonu’nun (SEC) yeni token düzenlemesi, ABD’de kripto projelerinin yeniden token satışıyla sermaye toplamasının önünü açabilir. Grayscale Research, böyle bir ortamda Ethereum, Solana ve BNB Chain‘in öne çıkabileceğini düşünüyor.

SEC, 18 Ağustos’ta Regulation Crypto Assets (Reg Crypto) adı verilen yeni kurallar için teklif sundu. Düzenleme, belirli şartları karşılayan girişimlerin ABD’li yatırımcılara yeni tokenlar satarak sermaye toplamasına izin verebilir.

Buradaki konu hisse senetlerini blockchain’e taşımak değil. Söz konusu teklif, yeni çıkarılan tokenların sermaye toplama aracı olarak kullanılmasını hedefliyor. Grayscale’e göre böyle bir pazar yeniden açılırsa, token satışlarının gerçekleştiği blockchain ağları da bundan pay alabilir.

Grayscale Neden Ethereum, Solana ve BNB Chain’i Öne Çıkarıyor? Grayscale Research, SEC’nin teklifinin ardından yayımladığı değerlendirmede Ethereum (ETH), Solana (SOL) ve BNB Chain’i olası kazananlar arasında gösterdi.

Mantık oldukça basit. ABD’deki projeler yeniden token satarak yatırım toplamaya başlarsa, girişimciler ve yatırımcılar daha fazla zincir üstü faaliyet gerçekleştirecek. Tokenların çıkarıldığı ve işlem gördüğü ağlar da bu hareketlilikten faydalanabilir.

Bunun geçmişte örneği var. National Bureau of Economic Research (NBER) araştırmasına göre 2017-2018 dönemindeki ICO dalgasında 1.500’den fazla proje toplam 12,9 milyar dolar topladı.

Sonraki yıllarda ABD’deki düzenleyici belirsizlik nedeniyle token satışlarının önemli bir bölümü ülke dışına taşındı. IEO ve IDO gibi yeni modeller ortaya çıksa da ABD’li yatırımcılar bu satışların çoğuna doğrudan erişemedi.

Grayscale’in beklentisi tam olarak burada devreye giriyor: Token yoluyla sermaye toplamak yeniden ABD’ye dönerse, bu işlemlerin üzerinde gerçekleştiği ağlara da yeni bir kullanım alanı doğabilir.

Reg Crypto Kripto Projeleri İçin Ne Değiştirecek? SEC’nin önerisi, token satışı için iki ayrı yol öngörüyor. İlk seçenekte girişimler dört yıllık dönem içinde toplam 5 milyon dolara kadar sermaye toplayabilecek. İkinci yol ise yılda 75 milyon dolara kadar fon toplamaya izin verecek ancak bunun karşılığında finansal tablolar ve düzenli raporlama gibi ek yükümlülükler getirecek.

Teklifte tokenların menkul kıymet statüsü de ele alınıyor. SEC’ye göre bir tokenın arkasındaki şirket veya ekip, projeyle ilgili temel yönetsel görevlerini tamamladığında token artık yatırım sözleşmesi olarak değerlendirilmeyebilir. SEC bu yaklaşımı “Investment Contract Safe Harbor” olarak adlandırıyor.

Bu konu, SEC’nin Ripple ile yıllardır devam eden XRP davasında da önemli tartışmalardan biriydi. Yeni teklif, en azından düzenleyicinin bu ayrımı nasıl ele alabileceğine dair daha net bir çerçeve ortaya koyuyor.

Ethereum, Solana ve BNB İçin Neden Önemli? Yeni token satışlarının artması halinde ilk etki, bu ağlardaki işlem ve kullanıcı faaliyetinde görülebilir. Yeni projeler tokenlarını piyasaya çıkarırken akıllı sözleşme altyapısına ihtiyaç duyacak. Yatırımcılar da bu tokenlarla işlem yapmak için ilgili ağları kullanacak.

Ethereum bu alanda zaten en büyük geliştirici ve uygulama ekosistemlerinden birine sahip. Solana yüksek işlem kapasitesiyle token lansmanlarında kullanılan başlıca ağlardan biri. BNB Chain ise Binance ekosistemiyle birlikte geniş bir kullanıcı ve uygulama tabanına sahip.

Grayscale’in değerlendirmesi de bu kullanım alanına dayanıyor. Daha fazla token ihracı, yalnızca yeni varlıkların ortaya çıkması anlamına gelmeyebilir; bu varlıkların çalıştığı blockchain ağlarına da yeni ekonomik faaliyet taşıyabilir.

Grayscale’in kendi yatırımları da BNB tarafındaki ilgiyi gösteriyor. Şirket bu ay Smart Contract Fund’ın ağırlıklarını değiştirerek BNB’yi %30,6’lık payla fonun en büyük varlığı haline getirdi.

SEC’nin Yeni Kuralları Ne Zaman Yürürlüğe Girecek? Reg Crypto henüz yürürlüğe girmiş değil. SEC’nin teklifinin Federal Register’da, yani ABD’nin resmi düzenleme bülteninde yayımlanmasının ardından 60 günlük kamuoyu görüşü süreci başlayacak.

SEC ayrıca bu yıl içinde kripto varlıkların alım satımı ve piyasa yapısına yönelik kurallarda yenilikçi projelere yönelik özel bir muafiyet getirmeyi planlıyor.

Teklifin amaçlarından biri de kripto şirketlerinin sermaye toplamak için ABD dışındaki piyasalara yönelmesini azaltmak. SEC Komiseri Mark Uyeda, daha net kuralların şirketleri ülke dışında faaliyet göstermeye iten baskıyı azaltabileceğini söyledi.

Düzenleme, Senato’da ilerlemesi zorlaşan CLARITY Act’in bazı bölümlerinin yerine de geçebilir. Bu yasa, ABD’de kripto varlıkların hangi kurallara tabi olacağını daha net hale getirmeyi amaçlıyor.

Token Satışları Yeniden ABD’ye Dönerse Ne Olur? Grayscale’in tezi henüz gerçekleşmiş bir piyasa hareketine değil, düzenlemenin yaratabileceği yeni kullanım alanına dayanıyor. SEC’nin teklifinin yasalaşması veya kapsamının değişmesi de henüz kesin değil.

Ancak ABD’de token yoluyla sermaye toplamak için net bir yol oluşması, kripto sektörünün önemli kullanım alanlarından birini yeniden canlandırabilir. 2017-2018 dönemindeki ICO dalgası bunun ne kadar büyük bir pazar yaratabileceğini zaten göstermişti.

Bu senaryoda Ethereum, Solana ve BNB Chain, yeni tokenların çıkarılması ve işlem görmesi için kullanılan başlıca ağlar arasında yer alabilir. Dolayısıyla Grayscale’in üç altcoini öne çıkarmasının temelinde fiyat tahmininden çok, düzenleyici değişimin blockchain kullanımını artırabileceği beklentisi var.

Bu içerik genel piyasa verilerine dayanır ve yatırım tavsiyesi değildir. Kendi araştırmanızı yapmanızı öneririz.

Son Dakika kripto para haberleri için hemen tıkla.

Konu ile ilgili yorumlarınızı bize yazabilirsiniz. Ayrıca, bu tarz bilgilendirici içeriklerin devamının gelmesini isterseniz, bizleri Telegram, Youtube ve Twitter kanallarımızdan takip edebilirsiniz.

Following the significant surge in the cryptocurrency market that began last night, bullish expectations are strengthening, and popular crypto analyst Ansem has made a new prediction that has caught the attention of investors.

Ansem, in a post from his X account, suggested that an equally weighted portfolio consisting of Bitcoin, Ethereum, Solana, Hyperliquid (HYPE), and PUMP tokens could yield a 3 to 5x return within the next two years.

A Special Review of Hype and Pump! One of the most striking points in the analyst’s assessment was the emphasis on HYPE and PUMP.

The analyst argued that HYPE and PUMP offered the most attractive potential in terms of risk-return ratio among the five assets he mentioned and could outperform the others.

According to the analyst, these two tokens have the potential to outperform larger cryptocurrencies like BTC, ETH, and SOL in the coming period.

Holding equal weights across the five assets can amplify the impact of higher-volatility hype and pumps on portfolio performance. While this could increase potential returns, it can also increase the overall risk and volatility of the portfolio.

However, this strategy also carries a significant risk. If assets with higher volatility, such as those fueled by hype and pump, experience sharp declines in value, the overall performance of the portfolio could be negatively impacted.

Finally, it should be noted that the analyst’s assessment reflects personal market expectations and is not a definitive price prediction. The direction the crypto market will take in the coming years depends on many factors, including global liquidity conditions, interest rate policies, regulatory developments, institutional investor interest, and Bitcoin’s overall market trend.

*This is not investment advice.

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GnosisDAO has approved GIP-153, giving Gnosis Chain a governance mandate to move toward becoming a ZK-proven Ethereum rollup rather than continuing only as an independent Layer 1 network.

The proposal passed with 123,158 GNO voting in favor, according to the Snapshot vote. The plan would transition Gnosis Chain into what the proposal describes as part of an Ethereum Economic Zone, with the chain settling on Ethereum and inheriting Ethereum’s security. Gas would remain paid in xDAI, and the target genesis window is late 2026 or early 2027.

That is a meaningful direction change.

Gnosis Chain has long occupied an unusual position in the Ethereum ecosystem. It is closely aligned with Ethereum values and tooling, but it has operated as its own chain. Moving toward a ZK-proven L2 model would bring it more directly into Ethereum’s rollup roadmap.

Still, this is a governance mandate, not immediate technical deployment.

TL;DR GnosisDAO approved GIP-153 to transition Gnosis Chain toward a ZK-proven Ethereum rollup. The proposal passed with 123,158 GNO voting in favor. Gas would remain paid in xDAI, with a target genesis in late 2026 or early 2027. A Directional Vote, Not A Finished Migration The most important detail is timing.

GIP-153 gives the project a clear direction, but it does not mean the technical migration has already happened. Rollup transitions require engineering, testing, sequencer and prover design, bridge considerations, user migration planning, security review, and ecosystem coordination.

That takes time.

The proposal’s late 2026 or early 2027 genesis target gives the market a broad window, not an overnight switch. Users should not assume that Gnosis Chain has already become an Ethereum rollup simply because the vote passed.

Governance has approved the direction. Implementation comes next.

Why Ethereum Settlement Matters The appeal of settling on Ethereum is straightforward.

Ethereum remains the dominant security and settlement layer for rollups. Chains that settle to Ethereum can lean on its validator set, liquidity base, developer ecosystem, and institutional credibility. That is why many projects have chosen to become L2s rather than compete as standalone chains.

For Gnosis Chain, the move could strengthen its Ethereum alignment while preserving some of its existing user experience.

Keeping gas paid in xDAI is particularly important because it protects one of the chain’s most familiar features. Users would not suddenly need to rethink every basic transaction around ETH gas.

That balance — Ethereum security with Gnosis-specific UX — is likely the point.

Unlocking Staked GNO Adds Another Layer The proposal also unlocks approximately 350,000 staked GNO.

That matters because governance changes can have token-economic effects as well as technical ones. Unlocking staked assets may improve flexibility, change incentives, or affect how participants think about GNO’s role in the future network structure.

The market will want to understand whether the transition makes GNO more governance-centered, more economically useful, or simply part of a broader ecosystem alignment.

That question will take time to answer.

For now, the vote shows that GnosisDAO wants the chain’s next phase to sit closer to Ethereum’s rollup economy.

Rollup Consolidation Keeps Moving The broader story is that Ethereum’s scaling map continues to absorb more activity.

The L2 model has become the dominant way for Ethereum-aligned ecosystems to grow without forcing every transaction onto Ethereum mainnet. If Gnosis Chain follows through, it would add another established ecosystem to the rollup side of the market.

That could make sense strategically.

Instead of competing with Ethereum, Gnosis Chain can position itself as a specialized extension of Ethereum’s settlement layer. That may be more attractive to developers, users, and institutional partners who already trust Ethereum’s security model.

But it also means Gnosis will need to execute carefully. Rollup infrastructure is competitive, and users will judge the transition by reliability, fees, liquidity, tooling, and bridge safety.

What Comes Next The next phase is execution.

GnosisDAO has approved the direction. Now the project needs technical design, implementation milestones, test environments, ecosystem communication, and final launch planning.

The vote is important because it clarifies intent. It does not settle every detail.

For Ethereum, the approval is another sign that its rollup-centered roadmap continues to pull in aligned ecosystems. For Gnosis Chain, it marks the beginning of a new chapter: one where the chain’s future is tied more tightly to Ethereum settlement.

That could be powerful, but the hard part starts after the vote.

This article is based on GnosisDAO’s GIP-153 Snapshot vote and related governance materials.

This article was written by the News Desk and edited by Samuel Rae.

Fidelity Digital Assets Names 6 Risks to Crypto’s AI Agent Thesis

Big Activity in Ethereum: Has the Expected Rally Begun, or is the Rise Temporary? Two Expert Analysts Evaluate!

Key Highlights Ethereum surged past $2,200 on August 19, marking its first breach of this level since June 2, 2026 The digital asset posted an impressive 8% climb within a 24-hour period, touching an intraday peak around $2,103 Bitcoin’s push toward the $70,000 threshold sparked more than $1.23 billion in forced short position closures Spot Ethereum exchange-traded funds attracted $71.47 million in net capital inflows The Relative Strength Index for ETH surged to 87.41, indicating extreme overbought conditions Ethereum vaulted beyond the $2,200 threshold on Wednesday, achieving this price level for the first time since early June 2026. This upward movement coincided with a comprehensive cryptocurrency market surge that propelled Bitcoin toward $70,000 and initiated widespread forced liquidations of bearish positions.

Ethereum (ETH) Price The second-largest cryptocurrency began trading around $1,905 before experiencing a powerful upward thrust that carried it to an intraday peak approaching $2,103. By session end, ETH had stabilized near $2,080, marking an approximately 8% appreciation over the preceding day.

The price acceleration received partial support from the US Treasury’s announcement regarding expanded long-term bond repurchase operations. Market participants interpreted this policy shift as an injection of liquidity into financial markets, providing tailwinds for Bitcoin and other risk-sensitive assets.

BREAKING: The US Treasury announces it will double the size long-term US government debt buybacks following the rapid surge in US Treasury yields.

Repurchases of $2 billion will now be increased to "at least" $4 billion, the US Treasury said.

The move is intended to provide…

— The Kobeissi Letter (@KobeissiLetter) August 19, 2026

Bitcoin rocketed above the $68,000 mark and approached $69,700, establishing its strongest position in over two months. The leading cryptocurrency accumulated roughly $4,400 in value across just 50 minutes as market participants scrambled to exit bearish positions.

Data from CoinGlass reveals that approximately $1.55 billion worth of short positions were forcibly closed during a single 60-minute window. Across the full 24-hour period, aggregate liquidations throughout the cryptocurrency ecosystem approached $2.99 billion, ensnaring approximately 114,038 individual traders.

Source: Coinglass The most substantial individual liquidation involved a $32.18 million ETHUSDT perpetual futures contract on the Bitget exchange. Alternative cryptocurrencies including Solana, BNB, Dogecoin, and Cardano all posted gains as market sentiment turned decidedly bullish.

Institutional Capital Flows Through ETF Channels Spot Ethereum exchange-traded funds registered $71.47 million in net positive flows during the trading session. Cumulative ETF holdings climbed to $10.83 billion, signaling expanding institutional appetite for ETH exposure.

The persistent ETF demand provides a more sustainable foundation for the price advance compared to rallies fueled exclusively by speculative derivatives trading.

Open interest in Ethereum derivatives contracts also expanded by nearly 10% within a single day. This metric demonstrates that leveraged market participants were establishing new positions as prices penetrated key resistance zones.

Market analyst Daan Crypto Trades observed on X that the substantial daily price bar that concluded the consolidation phase reminded him of “the same vibes as last year.” He referenced a previous occurrence when a comparable candle formation preceded an additional 20% price appreciation over the subsequent 48 hours, while emphasizing this was an observation rather than a forecast.

$ETH This massive daily candle to end the consolidation at this exact same price region is giving me the same vibes as last year.

Obviously it is just a comparison and unlikely for the price action to be the same afterwards but it was still worth pointing out for the sake of it… pic.twitter.com/mkBGR4aY80

— Daan Crypto Trades (@DaanCrypto) August 19, 2026

Critical Resistance and Support Zones ETH powered through the $1,960, $2,000, and $2,050 price levels within a single candlestick formation before encountering selling pressure around $2,100.

The Relative Strength Index registered 87.41, positioning ETH well into overbought territory. The Chaikin Money Flow indicator reached 0.62, demonstrating substantial capital accumulation supporting the upward move.

A confirmed four-hour candle close above $2,100 would potentially unlock movement toward $2,120, followed by $2,160. Breaching $2,160 with accompanying volume could bring the $2,200 psychological level into immediate focus.

Ethereum has accumulated a 31.1% gain during Q3 2026, effectively reversing its 25.3% drawdown from Q2. This performance trajectory positions ETH for its first quarterly gain of the calendar year.

Total assets under management in spot ETF products reached $10.83 billion at the conclusion of the trading session.