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Ethereum remains confined within a narrow trading range, with price volatility continuing to decline. Despite the subdued movement, the ability of ETH to maintain key support levels—combined with a spike in network activity—has sustained optimism for a potential recovery rally. According to data from Brave New Coin, Ethereum is currently trading close to $1,905, holding steady after rebounding from recent lows.

Volatility compression signals potential breakoutEthereum’s price action has entered a notable period of consolidation, with sideways movement and shrinking volatility raising expectations of an imminent breakout. Daan Crypto Trades, a popular market analyst, noted that it is rare for ETH to remain in such a compressed state for an extended period without eventually making a significant move.

Technical analysis suggests that holding the $1,800 to $1,850 support area is essential for maintaining the current recovery outlook. An upward breakout above $1,950 to $2,000 could pave the way for gains toward the $2,300 to $2,500 range. Conversely, a drop below current support would weaken bullish momentum, bringing the risk of a retreat toward $1,700 to $1,750.

Support LevelResistance LevelUpside TargetDownside Risk$1,800-$1,850$1,950-$2,000$2,300-$2,500$1,700-$1,750Recent consolidation in ETH’s price has compressed volatility to some of its lowest levels in recent months, keeping traders on alert for a decisive move.

On-chain activity supports bullish outlookEthereum’s network fundamentals have shown clear signs of improvement during the sideways market. On-chain analyst Ali Charts pointed out that new daily ETH addresses surged from about 121,210 on August 8 to 212,560, reflecting robust network participation and signaling underlying demand.

Historically, rising network activity has preceded longer-term price recoveries, although ETH still needs technical confirmation to establish a sustained rally.

New daily ETH addresses have climbed sharply, reinforcing the view that renewed network growth could support price strength if key technical levels are cleared.

Mini dictionary: Ali Charts, a widely followed cryptocurrency market analyst, is known for his blockchain data insights and technical analysis shared across social media platforms.

Bulls defend key zones, eye $2,500 targetCastillo Trading, another well-followed technical analyst, described the current ETH structure as offering a favorable risk-to-reward profile. Ethereum has held firmly above the critical $1,800 to $1,850 support, stabilizing its short-term trend. The next test lies at the $2,000 resistance, with traders watching to see if ETH can reclaim this level and push toward previous range highs near $2,400 to $2,500.

Maintaining momentum above the demand zone would reinforce the recovery scenario. If ETH loses this support, however, attention may shift to lower support bands.

Long-term prediction: $12,000 potential aheadCrypto market commentator Ted Pillows outlined a bullish longer-term thesis tied to global liquidity trends. He noted that if Ethereum tracks the growth of the global M2 money supply, price could eventually exceed $12,000. His analysis emphasizes the importance of ETH holding a rising trendline and reclaiming key resistances such as $2,500 to $2,800 before a substantial rally can unfold.

Still, confirmation of a sustained breakout remains needed before higher valuations can be targeted in the next growth phase.

Mini dictionary: M2 money supply refers to a broad measure of the money supply that includes cash, checking deposits, and easily convertible near money, reflecting overall liquidity in the economy.

Cautious outlook remains as ETH approaches decision pointEthereum is moving toward a critical phase after several weeks of muted trading. The primary levels to watch include immediate support at $1,800 to $1,850 and major resistance at $1,950 to $2,000. The first upward target is $2,300, with additional resistance expected between $2,500 and $2,800.

A convincing breakout above resistance, supported by rising trading volumes, may signal that buyers are regaining control. Until then, ETH is expected to trade within its current consolidation range, with both upward and downward scenarios in play.

At present, Ethereum is priced near $1,882, edging down by 0.14% over the last 24 hours. Analysts point out that a decisive move above the $1,950 to $2,000 range would refocus attention on the $2,500 recovery target. However, a rejection at key resistance or a slip below support may delay recovery prospects and trigger a move to lower levels. The coming weeks are set to determine whether Ethereum can break out to the upside or continues its consolidation pattern.

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.

Bitmine Immersion Technologies reported buying another 9,926 ETH over the past week, taking its total Ethereum holdings to about 5.8 million ETH. The company now controls 4.8% of ETH’s total supply and is nearing its goal of owning 5%.

Bitmine’s crypto and related holdings total $11.4 billion, including 210 BTC, $78 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings.

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Commenting on Ethereum’s outlook, Thomas “Tom” Lee, Chairman of Bitmine, pointed to the rising ETH/BTC ratio as a sign that tokenization and agentic AI could drive greater use of the network in the next crypto cycle.

“We expect easing financial conditions to be a tailwind for crypto,” Lee noted.

“This ETH/BTC ratio has moved up during crypto bull cycles, driven by increasing use of Ethereum relative to Bitcoin,” he explained. “These prior cycles were fueled by ICOs (2017-2018), NFTs (2020-2021), and stablecoins (2025). In this upcoming crypto cycle, we see the ETH/BTC ratio rising, driven by Wall Street tokenizing on the blockchain and by agentic-AI using blockchains.”

The company has staked over 5 million ETH worth about $9.6 billion through MAVAN and other staking partners. Bitmine said its own staking operations produced a 2.61% seven-day yield, putting projected annualized staking revenue at $250 million.

Separately, the leading Ethereum treasury repurchased 1.7 million common shares in the past week and more than 20.8 million shares since July under its $4 billion buyback authorization.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Summary

Bitmine bought another 9,926 ETH last week, bringing its holdings to 5.815 million ETH worth about $11 billion.The Tom Lee-led company now owns about 4.8% of Ethereum’s total supply, nearing its stated goal of 5%.Lee expects tokenization, AI-agent applications and easing financial conditions to support demand for Ethereum and the broader crypto market.Ethereum treasury company Bitmine Immersion added more of the token to its balance sheet, bringing its total holdings up to 5.815 million tokens.

In an announcement Monday, the company led by Chairman Tom Lee said it bought another 9,926 ETH last week, continuing its streak of weekly buys that began in June 2025 when the company launched.

Bitmine, which trades under the ticker BMNR, now holds 4.8% of ETH’s total supply with its tokens worth about $11 billion at the current price of $1,904.

Lee said the ETH/BTC ratio has broken above a years-long downward trend, which he sees as a sign that investors are starting to price in growing demand for Ethereum from tokenization and AI-agent applications.

On the macro front, he expects “easing financial conditions to be a tailwind for crypto,” he said in a statement.

ETH is up about 1.6% over the past 24 hours while BMNR is trading more than 2% higher today.

The company also bought an additional 1.7 million shares of its own stock last week, now owning 20.8 million shares under a previously authorized $4 billion buyback program.

Bitmine (NYSE: BMNR) stock is up today, August 17, after Bitmine announced that it repurchased 1.7 million shares in the week between August 10 and August 14. The Ethereum treasury company also purchased more Ethereum (ETH) during the week, which brought its total Ethereum holdings to 5.82 million.

Bitmine Buys Back BMNR, Increases ETH Holdings Bitmine Immersion’s recent repurchase of 1.7 million shares brings the company’s total stock repurchases since July 1, 2026, to more than 20.8 million shares, per a report by Bitmine.

The share buyback has driven gains for BMNR stock, whose price is up by 4% today, August 17, to trade at $18 at the time of writing. It also comes one week after CoinGape reported another buyback of 3 million shares.

Bitmine has also purchased an additional 9,926 ETH, which brought the company’s total Ethereum holdings to 5.82 million. The company’s ETH holdings are now equal to 4.8% of the total Ethereum supply of 120.7 million coins, and it has staked 5 million of these coins per the SEC filing.

Bitmine ETH Staking Bitmine’s repurchase mirrors that of Bitcoin Treasury company Strategy, which also repurchased STRC shares in the week between August 10 and August 11, after selling $338 million in MSTR stock.

BMNR Stock Price Outlook as Share Buyback Fuels Gains The weekly Ethereum and stock repurchases by Bitmine have been driving gains for the BMNR stock price, with the shares having increased by 50% since the June 30 low of $12.

The RSI reading of 59 shows that the momentum is favoring bulls. The RSI is also creating higher highs, suggesting that the uptrend could continue as the buying pressure rises.

Bitmine shares are also moving within an ascending parallel channel, and bulls are testing the resistance at the midline of this channel to determine whether the uptrend will continue.

If BMNR closes above this resistance at $18.80, the crypto stock could reach the psychological resistance of $20.

BMNR Price Chart But if the stock closes below $18.80 and moves below the lower trendline of the ascending channel, it could drop to support at the lower Bollinger band of $16.27.

Bullish Macro Factors Fuel Gains for BMNR Stock The recent share repurchase is not the only factor that is fuelling gains for BMNR stock because the Nasdaq 100 index was also up by 0.17% at the time of writing, with the gains coming on fresh optimism that the Fed will not hike interest rates in September.

As CoinGape reported, Goldman Sachs has warned investors against betting on the Fed hiking rates next month after the CPI data showed cooling inflation.

The recent US jobless claims also showed that the labor market is becoming weak, which could also prompt the Fed to trim rates.

For more details on the US monetary policy decision ahead of this week’s FOMC meeting, check out our Predictions markets platform.

Researchers say ordinary mistakes involving testnet addresses, reused contracts and exposed private keys have triggered hundreds of millions in losses on Ethereum and BNB Chain.

The USENIX Association says on-chain analysis of millions of addresses identified 65,340 high-risk instances tied to contract and externally owned account misuse.

The term “address misuse” essentially refers to people accidentally sending their crypto to the wrong wallet, whether it’s a test-network address that doesn’t work on the real chain, an old or reused smart-contract address or an account whose private key was already exposed.

“Despite their importance, addresses also constitute a potential vector for security risks. Due to negligence, misoperation, or lack of knowledge, users may interact with unsafe or unintended addresses, even directly transferring tokens to these addresses.

Such incorrect address interactions, collectively referred to as Address Misuses in this paper, have caused prevalent and high-volume loss of assets in the real world.”

Sending crypto to the wrong type of contract address caused losses of 22,738 ETH and 8,681 BNB, while sending it to regular wallets whose private keys had already been leaked caused much larger losses of 104,245 ETH and 9,045 BNB.

The report was led by researchers from Sun Yat-sen University, Peking University and Zhejiang University.

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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11h35 ▪ 7 min read ▪ by Luc Jose A.

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Rarity could soon no longer be the exclusive domain of bitcoin. According to projections published by Grayscale, the annual growth of Ethereum and Solana supply could fall below gold’s 1.8% by 2031. Indeed, several reforms are currently being debated, including EIP-8361 on Ethereum and SIMD-0550 and SIMD-0553 on Solana. If adopted, ETH’s annual inflation could drop to 0.4%, compared to 1.1% for SOL. This development is likely to reshuffle the cards between rarity, staking yield, and valuation of these two cryptos.

In brief According to a Grayscale study, new technical proposals could reduce Ethereum’s annual inflation to 0.4% and Solana’s to 1.1%, making them rarer than physical gold. The EIP-8361 proposal plans to burn an increasing share of validator rewards as staking increases, bringing ETH issuance back to Bitcoin’s level. By doubling the emission reduction rate via the SIMD-0550 proposal, Solana considerably accelerates its path to a tightly capped supply. Although this tightening reduces direct returns paid to stakers and ETFs, the increased rarity could support token prices and transform these altcoins into leading stores of value. The overhaul of Ethereum’s emission model by EIP-8361 On August 4th, six researchers from the ecosystem, including Justin Drake of the Ethereum Foundation, formally submitted proposal EIP-8361, entitled “Tapered Issuance Burn”. This text aims to fix what the authors call artificial overissuance in the current economic model of the network. Today, validators can still claim a staking yield close to 1.5% per year, even in a scenario where almost all ETH tokens would be locked in the protocol.

According to the diagnosis made by the researchers, this ceiling maintains excessive monetary creation without this corresponding to a real need for operational security. EIP-8361 thus introduces a dynamic mechanism designed to burn an increasingly large share of rewards as the ratio of staked ETH increases, planning a transition over 18 months to burn all rewards once about 60.25 million ETH, or half of the total supply, will be staked.

According to the quantitative models integrated in the proposal and analyzed by Grayscale, Ethereum’s annual issuance would peak around 0.5% at a staking level of 20%, before starting a downward trajectory towards zero as the network approaches the 50% plateau. In its central scenario projected for 2031, the asset manager estimates that ETH’s annual inflation would fall to about 0.4%, thus matching the emission rate anticipated for bitcoin over the same period.

This structural change does not go unnoticed by the institutional financial sector. Grayscale also recalls that its own ETHE spot fund began earlier this year distributing staking yields to its shareholders, constituting the first crypto spot exchange-traded product (ETP) in the United States to implement such a mechanism.

Several fundamental numerical indicators summarize the technical and financial impact of this update for the Ethereum network :

60.25 million ETH : the staking threshold from which 100% of the emission dedicated to rewards will be burned after the 18-month transition ; 0.4% : the theoretical annual inflation rate of ETH supply projected by Grayscale by 2031, equaling that of bitcoin ; 0.5% : the peak that the annual issuance would barely exceed when the network’s staking rate is around 20%. Solana: accelerating supply reduction via SIMD-0550 and SIMD-0553 On its side, Solana follows a separate disinflationary trajectory, centered on improvement documents SIMD-0550 and SIMD-0553. Currently set at about 3.695% per year, this crypto’s inflation rate follows an initial schedule predicting a 15% reduction per year until reaching a long-term floor set at 1.5%. The SIMD-0550 project proposes to accelerate this process by doubling the annual reduction rate, compressing several years of gradual monetary adjustment into a much shorter time frame.

In parallel, the SIMD-0553 proposal modifies transaction fee management to increase the proportion of SOL permanently destroyed, preventing these cryptos from being re-injected to validators. However, Grayscale’s analysis shows that the additional amount of SOL burned via SIMD-0553 remains modest compared to the daily issuance volume under current network conditions, confirming that SIMD-0550 is the real driver of the projected drop to 1.1% by 2031.

This dual technical initiative does not enjoy a fully homogeneous consensus regarding its time feasibility. As Grayscale’s research note explicitly points out, these emission trajectories rely on strict assumptions of immediate implementation without alteration of other operational parameters, a condition considered unlikely to be realized exactly as such in reality.

The political and community dimension plays a key role here. In a recent intervention, Zach Pandl, Grayscale’s research director, qualified the comparative progress of the two networks. He then stated: “Solana’s plan enjoys broader community support and has better chances of being implemented than its Ethereum equivalent”. This divergence in the degree of buy-in from key players proves decisive for investors seeking to incorporate this future rarity in their valuation models.

The economic trade-offs of enhanced rarity The evolution of these emission models places community governance at the heart of the strategic choices of each crypto ecosystem. Although mathematical models anticipate a marked compression of token creation, moving from proposal to effective implementation requires the buy-in of the majority of validation actors.

The difference in support highlighted by Grayscale between Ethereum and Solana illustrates how political and economic considerations influence the adoption of technical updates. On the market side, establishing rarity greater than that of gold marks a stage in the structuring of major altcoins as mature financial assets, capable of competing with traditional safe havens against global inflationary pressures.

Economically, the shift toward algorithmic enhanced rarity imposes a complex trade-off between the unit value of the asset and the gross yield perceived by network participants. By reducing the pace of new token issuance, these reforms de facto decrease nominal income paid to validators and holders of staked crypto ETF shares.

Zach Pandl notes, however, that a smaller circulating supply could support token prices in the market, thus offsetting the mechanical decrease in staking yields. The final equation will depend on the ecosystems’ ability to maintain the security of their consensus while convincing staking actors to accept lower direct rewards in exchange for a theoretically rarer and more robust underlying asset against traditional monetary pressures.

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Luc Jose A.

Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.

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.

8h05 ▪ 6 min read ▪ by Ariela R.

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Who would have believed it! In three months, a new segment of the crypto market multiplied its volume by 17. According to CryptoQuant, the monthly volume of crypto perpetual stock actions on exchanges has indeed exploded from 15 to 250 billion dollars between April and July 2026. Binance dominates with 76% of the market, while Gate records the strongest growth (+308%). AI and semiconductor stocks concentrate most of the volumes.

In brief The monthly volume of crypto perpetual stock actions on exchanges rose from about 15 billion dollars in April to nearly 250 billion in July 2026, according to CryptoQuant. Binance alone captures 76% of this market, with about 193 billion dollars in volume processed in one month. Gate shows the fastest sector growth, with a 308% jump between June and July. Assets related to semiconductors and artificial intelligence concentrate most of the trades. This phenomenon is part of a broader trend. An unprecedented volume explosion in the history of crypto assets According to a report published on August 13, 2026 by the analytics company CryptoQuant, the monthly volume of perpetual stock actions on the major crypto exchanges rose from about 15 billion dollars in April to nearly 250 billion dollars in July. A 17-fold increase in only three months and a 56% rise just between June and July.

These derivatives allow traders to gain exposure to publicly traded stocks without adhering to the traditional Wall Street trading hours. But there’s more! Unlike a traditional future, a crypto perpetual contract also has no expiration date. It is maintained through a periodic funding mechanism that aligns its price with that of the underlying asset.

As a result, crypto exchanges become 24/7 trading floors, even when U.S. stock markets are closed.

The CryptoQuant research team summarizes the facts well in their August 13 report:

This expansion transforms crypto exchanges into permanent marketplaces for contracts linked to traditional stocks.

This reinforces the ambition expressed by several crypto platforms: to become “everything exchanges,” capable of hosting cryptocurrencies, stocks, and commodities in a single account.

Binance already controls 76% of trades In this new segment of the crypto market, one player largely dominates the scene: Binance. The platform processed about 193 billion dollars in volume in July. This represents 76% of the total perpetual stock actions market. A concentration level reminiscent of Binance’s dominant position in the broader crypto derivatives market!

Binance crushes competition in perpetual stock actions (Source: CryptoQuant) Behind the leader, the hierarchy tightens. Bitfer, Bybit, and Gate follow at a fair distance, but their growth dynamics attract more attention than their absolute market shares.

Gate sees its volume of perpetual stock actions increase by 308% between June and July. Those of Bybit and Binance respectively total 176% and only 59%. The crypto exchange Gate has thus recorded continuous monthly growth since May. An indicator closely monitored by analysts. But that’s not all! Concentration there also reaches peaks. SanDisk and SK Hynix alone represent 53% of the total volume of perpetual stock actions processed by the crypto platform last month. This figure illustrates how much this young market remains dependent on a handful of technology stocks.

It’s a fact! AI and semiconductors dominate crypto trading Beyond the overall figures, the market composition deserves close examination. Trades indeed remain concentrated on a limited number of technology and semiconductor-related assets. SanDisk, SK Hynix, Micron, and the leveraged ETF SOXL form what analysts call the “AI-memory complex”. This set consists of securities directly exposed to the demand for chips for artificial intelligence.

Additional data published by CryptoRank provides further insight:

SpaceX generated 84.6 billion dollars in volume over 90 days. It even surpasses Solana (SOL), which totals 77 billion dollars over the same period. SK Hynix records 31.1 billion dollars. Bitcoin remains however the dominant crypto asset with 543 billion dollars in volume. It sits ahead of Ethereum (246 billion dollars) and Hyperliquid (93.6 billion dollars).

Decoding: the non-crypto assets represent about 17% of the combined volume of the top ten perpetual contracts in the market.

Ranking of assets dominating trading (Source: CryptoRank) A phenomenon to put into perspective with the global crypto market To properly assess the extent of this growth, it needs to be placed in a broader context. According to CoinGecko data, crypto exchanges processed 1,320 billion dollars in perpetuals backed by traditional assets during the first five months of 2026, compared to only 104.21 billion dollars for the entire year of 2025. Monthly volume thus rose from 230 million dollars in January 2025 to 347.17 billion dollars in May 2026.

Another indicator to watch: open interest, meaning the outstanding value on these contracts. According to another CryptoQuant report, open interest on perpetuals backed by traditional assets doubled to exceed 2 billion dollars in July, compared to 350 to 500 million dollars in spring.

This figure remains small, though. The fact is that this segment represents only about 3% of the 65 billion dollars of total open interest in the crypto derivatives market. Moreover, these volumes (however spectacular) remain tiny on the scale of traditional stock markets.

In any case, the explosion of perpetual stock actions marks a turning point in the convergence between traditional finance and crypto. The question remains whether it will withstand a market shock or if it will be limited to a few trendy tech stocks.

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Ariela R.

My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)

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.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) begin the week on a cautious note after slipping over 3%, 1.5%, and 3.5%, respectively, in the previous week. BTC finds support around the key $62,300 level while ETH continues to trade sideways. Meanwhile, XRP hovers around $1.00, with weakening momentum suggesting deeper losses.

Bitcoin finds support around key $62,300 markBitcoin price trades at $63,135 on Monday, holding a bearish near-term bias as it remains capped beneath the 50-day Exponential Moving Average (EMA) at $64,306 and well below the 100-day and 200-day EMAs at $66,388 and $71,800, respectively.

Momentum readings reinforce the downside skew, with the Relative Strength Index (RSI) hovering at 44 in neutral-to-weak territory and the Moving Average Convergence Divergence (MACD) indicator entrenched in negative territory, suggesting lingering selling pressure despite the recent stabilization above $63,000.

On the topside, initial resistance is located at the 50-day EMA near $64,306, with a stronger cluster emerging around the 38.2% Fibonacci retracement of the latest swing at $65,547 and the 100-day EMA at $66,388, just ahead of the horizontal barrier at $66,500; a daily close above this zone would be needed to ease the current bearish tone and open the way toward the 50% retracement level at $67,940.

On the downside, immediate support is seen at the 23.6% Fibonacci retracement at $62,586, followed by the horizontal floor at $62,300, where a break would likely expose deeper losses toward the lower end of the broader range.

BTC/USDT daily chartEthereum continues to be range-boundEthereum price trades at $1,892 on Monday, holding above the 50-day EMA at $1,867 but remaining capped beneath the 100-day EMA at $1,919; it has traded sideways since mid-July. 

The RSI near 53 hints at modest positive momentum, yet the MACD stays negative, suggesting buying pressure is tentative rather than impulsive.

On the topside, initial resistance sits at the 100-day EMA around $1,919; a break there would expose the psychological horizontal barrier at $2,000 before the more strategic 200-day EMA at $2,118. 

On the downside, the 50-day EMA at $1,867 provides immediate support; a daily close below this level would open the door to the more distant horizontal support zone near $1,385, where a major structural floor emerges on the longer-term chart.

ETH/USDT daily chartXRP shows caution signalsXRP price trades at $1.00 on Monday, keeping a bearish bias as price holds beneath the 50-day EMA at $1.07 and the 100-day EMA at $1.15. The broader trend backdrop remains heavy with the 200-day EMA far above at $1.35, while the RSI around 37 and a negative MACD reading both hint at lingering downside pressure rather than an imminent bullish reversal.

On the topside, initial resistance emerges at the 50-day EMA near $1.07, followed by the 100-day EMA around $1.15 and the horizontal barrier at $1.30, with a more distant cap reinforced by the 200-day EMA near $1.35 and the structural high around $1.90. 

On the downside, immediate support is aligned with the psychological and horizontal floor at $1.00, where a sustained break would expose fresh lows and deepen the prevailing bearish structure.

XRP/USDT daily chart(The technical analysis of this story was written with the help of an AI tool. Know more.)

Cryptocurrency prices FAQs Token launches influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.

A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.

Macroeconomic events like the US Federal Reserve’s decision on interest rates influence crypto assets mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.

Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs.

US spot Bitcoin ETFs shed $389.71 million last week, marking the largest weekly net outflow in six weeks and abruptly ending a run of healthy inflows. The prior week had seen $853.54 million pour into the same products. That’s a swing of more than $1.2B in net flow direction, week over week.

Spot Ethereum ETFs, meanwhile, recorded a $2.26 million net outflow. A small number on its own, but it snapped a five-week streak of continuous inflows into ETH-linked products.

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What the numbers actually tell us Bitcoin was trading near $63,000 during the reporting period. Despite nearly $390M walking out the door, price action was remarkably flat.

Compare that to the previous week’s $853.54 million in inflows. That kind of whiplash, from nearly $854M in to nearly $390M out, typically reflects tactical repositioning rather than a fundamental change in thesis.

The institutional positioning game ETF flow data, primarily tracked by platforms like SoSoValue, has become one of the most closely watched indicators in crypto markets. Individual funds like BlackRock’s IBIT for Bitcoin and ETHA for Ethereum tend to dominate weekly aggregates, meaning a single large allocation or redemption from one major player can swing the entire weekly number.

The broader pattern over recent months has been one of net accumulation. Bitcoin ETFs have attracted tens of billions in total assets since their January 2024 launch, and periodic weeks of outflows have consistently been followed by renewed inflows.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

JPMorgan Chase now lets institutional clients pledge Bitcoin and Ethereum as collateral for U.S. dollar loans, placing crypto on the same ledger as Treasuries and blue-chip equities. For a bank whose CEO spent years calling Bitcoin a fraud, the reversal rewires how capital moves between Wall Street and decentralized networks, and forces every competitor to answer the same question.

Summary

JPMorgan Chase launched a program in March 2026 allowing institutional clients to pledge Bitcoin and Ethereum as collateral for U.S. dollar loans through its Kinexys digital assets platform, with custodians including Fidelity Digital Assets and Coinbase Custody holding the pledged tokens.
The bank applies estimated haircuts of 30% to 50% on crypto collateral, meaning a client pledging $100,000 in Bitcoin may receive only $50,000 to $70,000 in financing, with real-time oracle feeds from providers such as Chainlink adjusting valuations continuously.
This move follows JPMorgan’s filing of bitcoin-backed structured notes tied to BlackRock’s IBIT exchange-traded fund, offering leveraged returns of up to 1.5x and potential gains of 16% if IBIT hits predetermined targets by December 2026.
Goldman Sachs, Citigroup, and Bank of America are building a tokenized deposit network launching in the first half of 2027, suggesting JPMorgan’s collateral program is the opening act of a broader Wall Street integration.
The cultural shift is stark: CEO Jamie Dimon once called Bitcoin a “hyped-up fraud” and a “pet rock,” yet the bank now treats Bitcoin identically to stocks, bonds, and gold on its collateral schedule.

The pledged assets never leave cold storage at third-party custodians such as Fidelity Digital Assets and Coinbase Custody, but the dollars they unlock are as real as any credit line backed by government paper. JPMorgan Chase opened the program in March 2026 through its Kinexys digital assets platform, and the competitive cascade it triggered is already reshaping the banking industry.

From “pet rock” to pledgeable asset
Jamie Dimon’s public disdain for Bitcoin has been a recurring fixture of earnings calls and conference panels since at least 2017. He called it a fraud, compared it to tulip mania, and warned employees that trading it would be grounds for termination. Yet JPMorgan’s institutional clients kept asking for exposure, and the bank kept quietly building infrastructure to serve that demand. The Kinexys platform, formerly known as Onyx, now processes more than $5 billion in daily transaction volume and has handled over $3 trillion in cumulative settlements since its launch. Adding crypto collateral to that engine was less a philosophical U-turn and more the logical next step for a system already designed to move tokenized value at scale.

The internal evolution at JPMorgan tells a more nuanced story than the public rhetoric suggests. While Dimon was calling Bitcoin a fraud in shareholder letters, the bank’s technology division was hiring blockchain engineers, filing patents on tokenized settlement systems, and building the infrastructure that would become Kinexys. The digital assets team operated with a degree of autonomy that allowed it to build production-grade systems while the CEO continued to express skepticism on CNBC. That dynamic, where the engineering side of a bank runs ahead of the executive messaging, is common in large financial institutions. It happened with derivatives in the 1980s, with electronic trading in the 1990s, and with algorithmic market-making in the 2000s. The public stance catches up to the private investment, usually when a revenue opportunity becomes too large to ignore.

Eric Trump captured the irony at Consensus Miami 2026, pointing out that JPMorgan had gone from “crapping all over bitcoin” to offering mortgage products backed by crypto holdings in roughly 18 months. The timeline matters because it compresses what analysts expected to be a multi-year adoption curve into something closer to a sprint. When the bank that sets the pace for Wall Street lending accepts an asset as collateral, it sends a signal that cascades through compliance departments, risk committees, and boardrooms at every other major financial institution.

How the collateral program works
The mechanics mirror traditional securities lending more closely than most observers expected. A hedge fund or corporate treasury deposits Bitcoin or Ethereum with a third-party custodian, typically Fidelity Digital Assets or Coinbase Custody. JPMorgan never takes direct possession of the tokens. Instead, the bank receives a custodial receipt confirming the deposit, and the Kinexys platform records the pledge on its permissioned blockchain. The client then receives a U.S. dollar loan, with the crypto holdings serving as security.

Real-time price feeds, sourced from oracle providers including Chainlink, continuously update the valuation of the pledged assets. If the value of the collateral drops below a predetermined threshold, the system issues a margin call automatically. The client must either deposit additional collateral or repay part of the loan. If neither happens within the specified window, the custodian can liquidate the crypto position to cover the shortfall. The entire lifecycle, from pledge to margin call to potential liquidation, runs on blockchain rails that operate around the clock, a meaningful upgrade over the batch-processing cycles of traditional collateral management.

One detail that distinguishes this program from crypto-native lending platforms is the separation between custody and credit. On platforms like Aave or Compound, the collateral and the lending pool exist in the same smart contract ecosystem. A bug in the protocol can expose both simultaneously. JPMorgan’s structure intentionally fragments these functions across different entities: the bank underwrites the loan, the custodian holds the tokens, and the oracle provider supplies the pricing. That fragmentation adds operational complexity but creates firebreaks. A failure at any one layer does not automatically cascade into the others.

The initial rollout targets high-net-worth clients and institutional players. Retail access is not part of the current scope, though internal JPMorgan documents referenced by Bloomberg suggest the bank is evaluating a phased expansion that could include qualified retail investors by mid-2027.

The haircut question
Collateral haircuts are where the details reveal how seriously a bank treats an asset class. U.S. Treasuries typically carry haircuts of 1% to 5%, reflecting their low volatility and deep liquidity. Investment-grade corporate bonds sit in the 5% to 15% range. Gold, depending on the form and custodian, attracts haircuts of 10% to 25%.

JPMorgan’s reported haircuts for Bitcoin collateral land between 30% and 50%. That range acknowledges Bitcoin’s realized volatility, which has averaged roughly 50% to 70% annualized over the past five years, while still treating the asset as meaningfully pledgeable. A client depositing $1 million in Bitcoin would receive between $500,000 and $700,000 in loan proceeds. The spread within that range likely depends on the client’s creditworthiness, the loan tenor, and prevailing market conditions.

These numbers are not punitive by historical standards. When Goldman Sachs and other tier-one banks first explored Bitcoin-backed lending through tri-party repo arrangements, internal models suggested haircuts as high as 70%. The compression from 70% to a midpoint of roughly 40% over just a few years reflects both declining realized volatility as the asset matures and growing confidence in custodial infrastructure. If Bitcoin’s annualized volatility continues to fall, as it has with each successive halving cycle, the haircuts will tighten further. A world in which Bitcoin collateral receives a 20% haircut, comparable to high-yield corporate bonds, is plausible within the next three to five years.

What changes when Bitcoin becomes a balance-sheet instrument
The shift from speculative asset to pledgeable collateral rewires incentive structures across the financial system. Consider three immediate consequences.

First, it creates a reason to hold Bitcoin that has nothing to do with price appreciation. A corporate treasurer sitting on $50 million in Bitcoin can now borrow against that position to fund operations, acquisitions, or working capital without triggering a taxable event. The cost of capital for that borrowing, once haircuts and interest rates are factored in, may compare favorably to unsecured corporate debt for many mid-tier firms. Bitcoin becomes a tool for liquidity management, not just a bet on number-go-up.

Second, it introduces a new class of forced sellers. Margin calls on crypto-collateralized loans create liquidation pressure that did not exist when Bitcoin sat entirely outside the banking system. A sharp drawdown that triggers widespread margin calls at JPMorgan and its eventual competitors could amplify selling in a way that the market has not yet experienced at institutional scale. The plumbing that makes collateral possible also makes cascading liquidations possible.

Third, it pressures accounting standards. Under current U.S. GAAP rules updated in late 2024, companies can carry Bitcoin at fair value with changes flowing through earnings. If banks are treating Bitcoin as loan collateral, auditors and regulators will face increasing pressure to harmonize the treatment of crypto assets across the financial system. The gap between how a bank values Bitcoin as collateral and how a corporate borrower accounts for it on its balance sheet creates friction that the system will eventually resolve.

Fourth, it changes how Bitcoin miners and large holders think about treasury management. Companies like MARA Holdings have already used Bitcoin to refinance debt through crypto-native lenders such as Arch Lending. The entry of JPMorgan into this market gives those same borrowers access to cheaper capital, longer tenors, and the reputational cover of borrowing from a systemically important bank. The interest rates on JPMorgan’s crypto-collateralized loans have not been publicly disclosed, but the bank’s cost of funding is significantly lower than any crypto-native lender. That cost advantage will pull borrowing volume away from decentralized platforms and into the traditional banking system, an ironic outcome for an asset class built on the premise of disintermediation.

The competitive cascade
JPMorgan rarely moves first without knowing that competitors are watching. Goldman Sachs has been working on its own crypto-collateral program through tri-party repo structures. Citigroup is building custody rails designed to handle $30 trillion in tokenized assets. Bank of America, Wells Fargo, and Citigroup are jointly constructing a tokenized deposit network that launches in the first half of 2027 and would allow round-the-clock corporate fund transfers. Each of these initiatives is a precondition for accepting crypto collateral at scale.

The pattern echoes what happened with prime brokerage services for hedge funds in the 1990s. Once one bank offered a comprehensive package, every competitor had to match it or risk losing clients. The same dynamic is playing out with crypto services. JPMorgan has already filed to issue bitcoin-backed structured notes tied to BlackRock’s IBIT ETF, offering leveraged returns and conditional principal protection. Goldman Sachs is expected to announce similar products before the end of the third quarter. The question is no longer whether traditional banks will offer crypto-backed financial products, but how quickly the full menu will be available.

Regional banks face a different calculus. They lack the technology budgets and regulatory relationships to build Kinexys-style platforms from scratch. Most will rely on infrastructure partners, likely the same custodians and oracle providers that JPMorgan uses, to offer white-label versions of crypto collateral services. The result is a tiered market in which the largest banks offer bespoke crypto lending directly, mid-tier banks partner with fintechs, and smaller institutions simply refer clients elsewhere. That tiering already exists for foreign exchange and derivatives. Crypto is following the same organizational logic.

The opposing case: why this could unravel
Every structural shift comes with scenarios that could reverse it. The most direct threat is a regulatory crackdown. The Office of the Comptroller of the Currency has not issued definitive guidance on bank-held crypto collateral, and a change in administration or a major crypto-related loss at a systemically important bank could prompt restrictions that make the economics unworkable.

Volatility remains the fundamental challenge. Bitcoin’s 30-day realized volatility spiked above 100% during the March 2020 crash and exceeded 80% during the May 2021 selloff. A similar spike under the new collateral regime would trigger margin calls at a scale the system has not been tested against. If custodians cannot process liquidations quickly enough during a flash crash, the resulting losses could make banks pull back from crypto collateral entirely.

Custodial risk is the dark scenario. The collapse of FTX in 2022 showed that even large, apparently reputable crypto custodians can fail catastrophically. JPMorgan mitigates this by using regulated third-party custodians with segregated accounts, but the risk is not zero. A breach, hack, or operational failure at a major custodian could freeze collateral and create cascading defaults.

The invalidation criteria are clear: if any G-SIB (global systemically important bank) suspends its crypto collateral program due to losses or regulatory action within the next 18 months, the competitive cascade described above stalls. If two or more suspend simultaneously, the entire thesis reverses and crypto reverts to its pre-collateral status as a purely speculative asset class in the eyes of traditional finance.

Ethereum’s parallel path and the altcoin question
JPMorgan’s program accepts Ethereum alongside Bitcoin, but the two assets occupy different positions in the institutional hierarchy. JPMorgan’s own analysts have argued that Bitcoin has pulled decisively ahead as the institutional base layer, with spot Bitcoin ETFs recovering roughly two-thirds of their October 2025 outflows while spot Ethereum ETFs clawed back only about one-third.

The divergence matters for collateral because it affects how banks model risk. Bitcoin’s correlation structure, its relationship to equities, gold, and real interest rates, is better understood and more stable than Ethereum’s. A risk committee evaluating Ethereum collateral must also consider smart contract risk, network upgrade risk, and the possibility that DeFi activity on Ethereum declines further, reducing the fundamental demand for the token. These factors justify wider haircuts on Ethereum than on Bitcoin, and internal bank models reportedly reflect that asymmetry.

The broader altcoin universe is nowhere near collateral eligibility. Tokens with lower liquidity, shorter track records, and less regulatory clarity will remain outside the banking system’s collateral framework for the foreseeable future. The gap between Bitcoin and Ethereum on one side and everything else on the other is widening, not narrowing, as institutional infrastructure develops. Solana, despite processing JPMorgan’s first public-blockchain commercial paper issuance, is not on the collateral schedule. Neither are any stablecoins, wrapped tokens, or governance tokens. The threshold for collateral eligibility in the traditional banking system is far higher than the threshold for exchange listing, and that distinction will shape capital allocation for years to come.

For Ethereum specifically, the path to tighter haircuts runs through proving sustained network utility. If staking yields stabilize, layer-2 activity grows, and real-world asset tokenization on Ethereum scales meaningfully, risk committees may eventually treat ETH collateral on terms closer to Bitcoin. But that convergence is not guaranteed, and the current data points in the opposite direction.

What the Bitcoin ETF ecosystem means for collateral
The existence of spot Bitcoin ETFs creates a bridge between crypto-native collateral and traditional securities lending. A bank can accept shares of BlackRock’s IBIT as collateral without ever touching Bitcoin directly. The ETF wrapper provides regulatory clarity, custodial simplicity, and a familiar risk framework. JPMorgan’s structured notes tied to IBIT are an early example of this hybrid approach.

The ETF bridge also creates an interesting arbitrage dynamic. If a client can pledge IBIT shares at a 10% haircut through a standard securities lending agreement, or pledge the underlying Bitcoin at a 40% haircut through the crypto collateral program, the economics strongly favor the ETF route. This means that much of the early demand for crypto collateral may flow through ETFs rather than spot crypto, at least until haircuts on direct Bitcoin pledges tighten to competitive levels.

Over time, the two tracks should converge. As banks gain experience with direct Bitcoin custody and the realized loss rates on crypto-collateralized loans become visible, the haircut premium for spot Bitcoin over ETF shares will narrow. The end state is one in which Bitcoin, whether held directly or through an ETF, is treated as a single asset class on the collateral schedule, with haircuts reflecting the underlying volatility rather than the wrapper.

The regulatory dimension reinforces this convergence. The Clarity Act, which JPMorgan publicly backed despite lowering its estimate of the bill’s passage probability to below 50%, would provide a federal framework for digital asset classification. If passed, the act would remove much of the legal uncertainty that currently justifies wider haircuts on spot crypto versus ETF shares. Even without the Clarity Act, the SEC’s approval of spot Bitcoin and Ethereum ETFs has already created a regulatory precedent that treats the underlying assets as legitimate enough to wrap in registered securities. The collateral question is the next logical extension of that precedent.

What to watch
The next 12 months will determine whether JPMorgan’s collateral program is the beginning of a permanent structural shift or an experiment that gets walked back under pressure. Three signals matter most.

The first is competitor entry. If Goldman Sachs, Morgan Stanley, and at least one European universal bank launch comparable programs by mid-2027, the shift is durable. If JPMorgan remains alone, something is wrong with the economics or the regulatory environment.

The second is haircut compression. The current 30% to 50% range for Bitcoin reflects uncertainty. If that range tightens to 20% to 35% within a year, it means realized loss rates are low and the bank’s risk models are being validated by actual experience. If haircuts widen, the opposite is true.

The third is a stress test. The program has not yet been through a genuine market dislocation. The first 20%-plus drawdown in Bitcoin while significant collateral is pledged through the system will reveal whether the liquidation mechanisms work as designed. A clean liquidation cycle, one that processes margin calls and sells collateral without systemic disruption, would be the strongest possible endorsement of the program’s architecture.

Beyond these three signals, watch for the accounting and regulatory responses. If the Financial Accounting Standards Board issues updated guidance specifically addressing crypto collateral in banking contexts, it signals that the infrastructure is being built to last. If the OCC publishes interpretive letters clarifying the permissibility of crypto-backed lending for nationally chartered banks, the door opens for institutions that have been waiting on the sidelines. Conversely, if enforcement actions or congressional hearings target bank-held crypto collateral specifically, the expansion timeline extends significantly. The regulatory posture in Washington over the next year will shape the speed of this transition more than any single bank’s internal decision.

This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry significant risk, and readers should conduct their own research before making any financial decisions. Published on August 16, 2026.

TLDR: Ethereum address errors were linked to 65,340 high-risk cases and almost $574.8 million in losses across Ethereum and BNB Chain. Contract account misuse involved 49,344 cases, with 22,738.41 ETH and 8,681.41 BNB sent to addresses lacking expected code. Exposed private keys contributed to 15,996 account misuse cases involving 104,224.53 ETH and another 9,045.29 BNB across both blockchains. Researchers identified 17,270 EIP-7702 cases where malicious delegation helped attackers control exposed accounts and redirect deposits. An academic study links Ethereum address errors and similar BNB Chain mistakes to nearly $574.8 million in losses. Researchers identified 65,340 high-risk cases involving contract addresses, exposed accounts, and cross-chain reuse. Many transactions completed successfully, although users sent assets to the wrong destination or an unsafe account. 

This makes the problem harder to spot than a failed transfer. The research team includes scholars from Sun Yat-sen, Zhejiang, Peking, and other universities. Their work traces crypto address misuse across Ethereum and BNB Smart Chain. It also shows how EIP-7702 can help attackers seize exposed accounts and redirect incoming funds automatically.

Ethereum Address Errors Expose Cross-Chain Transfer Risks The researchers divide the problem into Contract Account Misuse and Externally Owned Account Misuse. Contract Account Misuse occurs when someone assumes a contract exists at a familiar address. That assumption can fail when the user switches networks. The same hexadecimal address may hold working code on a testnet but nothing on mainnet.

The study documented 49,344 separate contract misuse cases involving 22,738.41 ETH and 8,681.41 BNB. These Ethereum address errors appeared routine. A transfer can receive confirmation even when the intended contract function never runs. The network simply treats the call as a basic payment to an address without code.

A shared Uniswap V2 router address illustrates the danger. Developers used it on Ethereum’s Sepolia testnet, and related Stack Exchange posts attracted more than 102,000 views. Yet the address lacked contract code on Ethereum mainnet. Users still submitted function calls and attached ETH. The chain accepted those transactions as simple transfers, leaving the assets trapped.

Attackers watched addresses affected by crypto address misuse. The team identified 469 contract cases involving deliberate cross-chain address reuse. Attackers deployed malicious contracts at destinations where users had previously sent funds by mistake. Those incidents caused losses of 3,446.37 ETH and 431.79 BNB. The method turns an earlier mistake into an active theft opportunity.

These findings show why Ethereum address errors require chain-specific checks. A recognizable address alone does not confirm the expected contract exists. Users must verify both the selected network and the deployed bytecode before signing a transaction.

Exposed Keys and EIP-7702 Expand the Threat to Users Ethereum address errors also include Externally Owned Account Misuse. The study identified 15,996 cases tied to private keys exposed online. Developers sometimes publish keys in repositories, tutorials, or question-and-answer posts. Attackers can monitor those accounts and remove deposits as soon as funds arrive.

These exposed accounts received 104,224.53 ETH, while related BNB Chain losses reached 9,045.29 BNB. Researchers examined more than 10 million candidate addresses and 16 million exposed private keys. They then reviewed roughly 2.5 million transactions across Ethereum and BNB Smart Chain. Manual validation placed the detection system’s overall precision at 99.11%.

EIP-7702 expands the danger surrounding Ethereum address errors. The upgrade allows an externally owned account to delegate execution to smart contract code. Researchers found another 17,270 cases where attackers used this mechanism against exposed accounts. Malicious delegation enabled automatic control and redirected later deposits without repeated manual action.

The losses sit beside broader security damage recorded during 2026. Blockaid reported $1.1 billion stolen through 212 incidents during the first half. Three separate attacks each caused more than $35 million in losses on one late-July day. Unlike visible hacks, crypto address misuse can look like an ordinary confirmed transaction.

The researchers urge users to obtain addresses from official project documentation. Test accounts and production wallets should also remain separate. Wallets could flag addresses without contract code on the current chain. They could also warn when known exposed keys control a destination. Such checks would target Ethereum address errors before users approve irreversible transfers.

The latest expansion in tokenized U.S. T-bills shows that new issuance is increasingly spreading across major blockchain ecosystems. Over the last thirty days, Solana [SOL] added $378.2 million, leading Ethereum’s [ETH] $272.2 million increase by roughly $106 million.

This suggests that Solana has taken the lead over Ethereum [ETH] as far as adding new treasury value to its users’ accounts.

Meanwhile, off-chain holdings expanded by $81.7 million, while BNB Chain added $49.2 million, extending growth beyond the two leaders.

Token Terminal Smaller increases followed on zkSync Era at $6.1 million, while other networks remained below $1 million.

Additional treasury products will create multiple paths for users to engage in trading, use as collateral, or integrate into DeFi applications. However, it is clear that current issuances have created a large amount of concentration for this market.

Therefore, we believe that future growth will be key in identifying whether tokenized Treasuries evolve into a broader multichain market.

Capital flows into tokenized U.S. T-bills

That expansion across blockchain networks is being supported by fresh issuance from several major tokenized treasury providers. Superstate led 30-day growth with $184.2 million, narrowly ahead of Securitize at $182.8 million.

Franklin Templeton followed with $86.2 million, bringing their combined increase to $453.2 million. Meanwhile, OpenEden added $39.7 million, while J.P. Morgan contributed another $24.2 million.

Source: Token Terminal More so, this data also indicates that capital is being concentrated in established companies rather than spreading evenly across the market.

This is as opposed to having a broad distribution across the markets. However, it’s worth noting that other, smaller issuers continue gaining traction, indicating slow but continued diversification of participants within the market.

Tokenized equities extend beyond issuance Continued T-bill issuance shows tokenization adding supply, but tokenized equities reveal whether those assets can gain utility after issuance. Currently, around $111 million in tokenized stocks is deployed across DeFi. This is from a total market near $2.3 to $2.4 billion, according to RWA data.

Although still a small share, this brings equities into lending, liquidity, and trading rather than leaving them idle. Solana leads with $71.6 million, accounting for roughly 64–65% of deployed value according to Token Terminal data. Ethereum follows at $15 million, ahead of BNB Chain at $13.9 million.

Source: Token Terminal This concentration also carries into trading, with Solana recording $5.8 billion in spot DEX volume. Looking forward, rising DeFi balances would show whether tokenization is progressing from issuance toward sustained on-chain use. 

Final Summary Solana led tokenized T-bill growth as major issuers drove most new supply across chains. Tokenized equities are moving beyond issuance, with $111 million already deployed across DeFi markets.

Solana has recorded significant growth in tokenized U.S. Treasury bills, adding $378.2 million in the past 30 days. This increase outpaced Ethereum, which grew by $272.2 million over the same period, creating a $106 million lead for Solana in new tokenized Treasury issuance.

Solana price pressurized despite network growthWhile Solana’s network activity is showing robust expansion, its native token, SOL, continues to face short-term selling pressure. The price currently trades near $74.97, close to a fresh local low, after declining 0.68% in the past 24 hours. At the same time, daily trading volume has fallen 6.89% to $652.6 million, reflecting weaker investor participation.

Momentum indicators also point to continued caution. The relative strength index (RSI) sits at 46, indicating SOL is approaching oversold territory but has not yet confirmed a trend reversal. The moving average convergence divergence (MACD) histogram remains negative, signaling that bearish momentum persists. Lower volumes highlight limited conviction among buyers at present price levels.

Market participants are watching for a sustained move below $74.97, which could trigger another drop toward the $73.00 region. However, holding this support may lead to short-term price consolidation between $74.97 and $75.64.

Broader weakness in risk appetite has contributed to current price dynamics. Recent outflows from U.S. spot Bitcoin ETFs, including a $78.9 million withdrawal from BlackRock’s IBIT during August 10–14, have dampened demand for higher-risk crypto assets such as SOL. The token often exhibits greater volatility than Bitcoin during periods of market stress.

Institutional flows and technical levels shape outlookInstitutional investment behavior remains a key external factor. If ETF withdrawals slow, risk appetite could stabilize, potentially supporting price recovery in tokens like Solana. Ongoing outflows, however, may continue to weigh on high-beta tokens, even as network fundamentals improve.

This disconnect has left Solana trading tightly between improving on-chain metrics and selling pressure in the broader crypto market. The price trend will likely depend on changes in market volume, the defense of the $74.97 support, and movements in Bitcoin and ETF-related inflows or outflows.

Solana leads tokenized T-bill and equity growthAccording to recent data, Solana’s $378.2 million growth in tokenized Treasuries leads other blockchains, with Ethereum adding $272.2 million and BNB Chain increasing by $49.2 million. Off-chain platforms expanded by $81.7 million, while zkSync Era reported $6.1 million in new issuance.

Superstate and Securitize emerged as the largest providers of tokenized Treasury bills during the month, contributing $184.2 million and $182.8 million, respectively. Franklin Templeton’s addition reached $86.2 million, and increases from OpenEden and J.P. Morgan made up the rest. These companies are known for their work in digital asset issuance and blockchain-based securities.

Mini dictionary: Securitize is a blockchain company specializing in tokenizing real-world assets, especially securities, for use in the digital ecosystem. Superstate focuses on tokenized U.S. Treasuries, offering exposure to government bonds through blockchain networks.

Solana also leads in the deployment of tokenized equities within decentralized finance (DeFi) applications. Currently, around $111 million in tokenized equities are utilized in DeFi, with Solana accounting for $71.6 million, giving it a 64% to 65% share. Ethereum follows with $15 million, and BNB Chain holds $13.9 million.

BlockchainTokenized T-Bills AddedTokenized Equities in DeFiSolana$378.2 million$71.6 millionEthereum$272.2 million$15 millionBNB Chain$49.2 million$13.9 millionDeFi users employ these tokenized assets in lending, liquidity pools, and decentralized trading, rather than leaving them unused. Spot decentralized exchange volume on Solana reached $5.8 billion, suggesting active ecosystem growth. However, for such momentum to impact SOL’s price positively, sustained trading and DeFi engagement are required to offset technical weakness.

Tokenized equities and treasuries highlight Solana’s dominance in on-chain leveraged finance, even as short-term market momentum remains fragile.

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.

According to HTX market data, the crypto market remains in sideways consolidation, awaiting a directional shift. Bitcoin is trading at $62,800, down 0.3% in 24 hours; Ethereum stands at $1,876, with a 0.35% 24-hour drop. The total crypto market cap fell 0.3% over the same period to $2.226 trillion. Multiple crypto firms and analysts have recently reached a collective consensus that major market volatility is imminent. BTC’s token accumulation at the $63,000 level has hit an extreme peak; technical indicators including Bitcoin’s Average Directional Index signal volatility is set to return, as the sideways range has persisted for a considerable time. The massive short-term token accumulation near $63,000 acts as a potential volatility trigger, with any external event potentially serving as a catalyst. The market is now in a tense pre-directional phase, with significant swings ahead, and investors are urged to exercise high caution. Some altcoins are seeing unusual movements: PORTAL rose 51.3% in 24 hours to $0.0165; ALICE gained 11.7% to $0.1376; DODO climbed 11.4% to $0.022.

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Magazine: Ethereum’s EEZ could pull other blockchains into its orbit

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Crypto Market Update August 16: Bitcoin, Ethereum and XRP Stall Ahead of FOMC Minutes

BitMine, the firm holding the largest Ethereum treasury, Chairman Tom Lee laid out a core thesis in an interview: In AI and high-growth sectors, a founder’s vision and leadership have emerged as the true differentiated competitive advantage, even outweighing technology itself. The directional sense of top-tier founders cannot be replaced by AI. Sam Altman would never ask ChatGPT “What should I do?”; the same applies to Anthropic’s founder and Elon Musk. OpenAI’s survival hinges entirely on Sam Altman himself, not on passively feeding questions to AI for answers. Tom Lee argues this is the key differentiator: a founder’s foresight and judgment cannot be replicated by AI, even as models can be open-sourced and technology can be caught up.
Under this framework, Tom Lee classifies Robinhood CEO Vlad Tenev into the same “founder vision-driven” category. Robinhood operates in markets like retail trading, new-generation investors, and fintech penetration—all growing far faster than the overall economy. Vlad’s leadership and vision are critical to the company’s ability to seize these opportunities. A major reason Tom Lee’s own firm Fundstrat holds a heavy Robinhood position is Vlad Tenev himself: rather than focusing solely on valuations or short-term metrics, Fundstrat recognizes the founder’s long-term vision and execution. In the AI era’s investment framework, the scarcity of “human” factors is becoming a core pricing driver.

Relevant content

Vitalik: Ethereum’s scaling roadmap will integrate the advantages of UTXO-style models, ultimately achieving ultra-large-scale expansion without sacrificing decentralization and censorship resistance.

Ethereum co-founder Vitalik published an article outlining the core goals of Ethereum’s current scaling strategy. He first acknowledged the Bitcoin community’s pioneering technical contributions, then clarified that Ethereum’s proposed scaling strategy is advancing along that direction. Vitalik emphasized: “We want Ethereum to have both UTXO-style state, dynamic state, and all the advantages of both.” This means Ethereum is seeking to integrate the Bitcoin UTXO model’s strengths in efficient state management, light node verification, and scalability with its own flexible account model, smart contract ecosystem, and dynamic state capabilities. Vitalik reiterated that the ultimate goal of Ethereum’s scaling efforts is to achieve “hyperscaling” for the vast majority of activities on the network, without sacrificing three core attributes: decentralization, node operation convenience, and censorship resistance. Ethereum’s roadmap is shifting from a sole focus on scalability to a systematic effort to strike a better balance between scalability and decentralized resilience.

6 hours ago

Binance Life token surges 8%, briefly breaks through $0.54

According to HTX market data, after CZ announced he would donate the 'Binance Life' token from his public address to Giggle Academy and deactivate that address, the Binance Life token rallied 8% in the short term, breaking above $0.54. It is now trading at $0.51, with a 24-hour gain of 8.2%.

6 hours ago

CZ announced that he will disable public addresses to prevent his operations from being overinterpreted by the community, noting that BNB and "Binance Life" will be donated to Giggle Academy.

Binance founder CZ stated at Binance Square that many people are overinterpreting the meaning behind his actions. Today, while testing Trust Wallet, he found so many meme tokens in the wallet that it was difficult to even locate BNB. He then attempted to burn some of the tokens, a move that sparked extensive community discussion. CZ noted he realized he could never fully "clean up" all meme coins from that address: the more he burns, the more people will send coins to it. The transparent nature of blockchain means any activity on this address will be overinterpreted by the community. He even considered requesting the Trust Wallet team to add an "Ignore Coin" feature to prevent interface clutter, but pointed out that 99.99% of users would never use such a function. His plan is to donate BNB and the "Binance Life" tokens purchased with BNB to Giggle Academy, then cease using this address and leave it as a burn address.

6 hours ago

Meme coin MarsCoin slumped to a market cap of $7 million, plunging 65% in a single minute after nearly halving in value.

According to GMGN data, the BSC-based meme coin MarsCoin (contract address starting with 0x1706) saw a sharp short-term plunge after surging over 400x in a single day, hitting an all-time high of over $36 million in market cap earlier tonight. Its market cap then nearly halved to $21 million within an hour, before plummeting 65% in one minute at 22:07, dropping to $7 million. A wallet address linked to Binance CEO CZ showed unusual activity this afternoon, burning 4,444 units of the MarsCoin meme token. Separately, Binance Alpha previously listed a token of the same name, MarsCoin (contract address starting with 0xfe18), which currently has a market cap of $52 million, up 6% on the day. BlockBeats reminds users that most meme coins lack real-world use cases, are highly volatile, and investors should exercise caution.

6 hours ago

U.S. debt risks have surged, leading to a shift toward short-term Treasury bonds to meet growing borrowing demands.

The U.S. Treasury’s reliance on short-term debt is growing: Currently, U.S. Treasury bills make up 21% of the tradable Treasury securities market, a share near its highest level since 2020. Back then, amid the COVID-19 pandemic, the U.S. federal government’s borrowing spiked. This is far above the 10-15% range recorded between 2012 and 2019. By contrast, during the 2008 financial crisis, this proportion reached roughly 34%. Meanwhile, the U.S. government is increasingly leaning on short-term Treasuries to cover its rising borrowing needs, rather than long-term bonds. If the U.S. Treasury continues issuing long-term debt at its current pace through fiscal 2027, long-term Treasuries will account for 25% of total debt—their highest share since 2004. However, this strategy amplifies the government’s vulnerability to short-term interest rate swings. If rates stay elevated or climb again, debt servicing costs will become far more unsustainable. The U.S. debt crisis is now fully unfolding.

6 hours ago

A certain crypto address sold MarsCoin worth $171,000 too early, then chased the rally to buy it again.

According to on-chain analyst Ai Yi (@ai_9684xtpa), address 0x333…29cd2 offloaded 5.12 million MarsCoin tokens at a low price of $0.00006885 just two days before MarsCoin’s sharp surge today, suffering a loss of $4,533. At that time, the token’s market capitalization stood at only $68,000, while that same batch of tokens is now valued at $171,000. The address purchased $2,308 worth of the token 55 minutes ago to chase the rally; though it is currently in an unrealized profit position, it has not yet recouped its overall losses.

6 hours ago

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18h05 ▪
5
min read ▪ by
Fenelon L.

Summarize this article with:

Ethereum begins sorting for Hegotá, its expected upgrade in 2027. As of August 16, 66 proposals remained in competition. FOCIL has already secured its place, while three other EIPs could provide privacy applications with tools directly integrated into the protocol.

In Brief

Toni Wahrstätter lists 66 proposals to be sorted for Hegotá, aiming to select those that can reach implementations, devnets, and testnets for delivery in 2027.
FOCIL (EIP-7805) aims to enhance censorship resistance by allowing a committee of validators to force the inclusion of transactions.
EIP-8141, EIP-8250, and EIP-8272 form a trio of primitives for validation, independent nonces, and recent roots, not an already enabled private mode.

FOCIL Leads the Way Without Making Ethereum Private
In the long list of proposals related to Hegotá, FOCIL is currently the only one already marked as “Scheduled”. Cointribune had detailed its operation: the idea is to prevent a block proposer from permanently excluding a valid transaction.

The EIP-7805 stipulates that a committee of validators establishes a list of transactions to be included in the block. The proposer retains its role but can no longer decide alone what goes in or not.

FOCIL remains in draft stage, so it is not yet a feature available on the main network.

Toni Wahrstätter, Ethereum Foundation contributor, summarized the situation on August 16 on X:

FOCIL is already chosen as the flagship of Hegotá. I think Frame Transactions should join it.

The nuance is important. FOCIL affects censorship resistance, not transaction privacy. Amounts and addresses do not become invisible. This aspect is rather handled by three other proposals.

Three Building Blocks to Facilitate Privacy Applications
The goal is not to add a “private mode” to Ethereum. Developers rather seek to provide mechanisms that applications can use without having to rebuild everything on top of the protocol.

The EIP-8141, Frame Transactions, first changes how a transaction can be structured. Validation, execution, and gas payment can be separated. An account can then more freely define how an operation is authorized and how its fees are paid.

This approach aligns with the roadmap dedicated to privacy on Ethereum. Part of the complexity currently managed by wallets or applications could thus be moved directly to the protocol level.

The EIP-8250, Keyed Nonces, tackles another problem. Instead of using a single series of nonces, a Frame transaction could have several independent domains. For some private protocols using the same sending address, this would prevent a pending transaction from blocking subsequent ones.

The EIP alone, however, does not make any address anonymous. The EIP-8272 complements the setup with “Recent Roots.” A transaction could refer to a recent cryptographic root, verified by the client before execution. For a privacy application, this facilitates proof that a spend is based on a recent system state.

Taken together, the three EIPs look more like a toolbox than a ready-to-use privacy solution.

Hegotá Still Has Choices to Make
The main obstacle now remains the schedule. The 66 active proposals cannot all join Hegotá.

Toni Wahrstätter states that upcoming developer discussions will mainly need to identify EIPs capable of quickly obtaining implementations, then going through devnets and testnets before possible delivery in 2027.

The Forkcast tracking illustrated the sorting complexity. As of August 16, the platform listed 69 entries related to Hegotá: 65 “Proposed”, FOCIL already “Scheduled” and three other proposals classified as “Considered”, “Declined” or “Withdrawn.”

Privacy is also only one issue among others. Developers also discuss data costs, state growth, shorter slots, issuance, anti-correlation penalties, zkEVMs, and post-quantum resistance.

According to the Ethereum roadmap, Glamsterdam should precede Hegotá. Thus, over the next developers’ calls and especially the first devnets, the fate of the EIP-8141, EIP-8250, and EIP-8272 trio should become clearer.

For now, talking about “native privacy” remains premature. Ethereum is laying the foundations; these proposals still need to survive the sorting process and move from paper to code.

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Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

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.

Ethereum is holding above a major support level, with market participants closely monitoring its price movement and network activity. At present, ETH trades at $1,878.05, supported by a 24-hour trading volume of $2.89 billion and a total market capitalization of $226.67 billion.

ETH maintains crucial support, eyes $2,000 levelAnalyst Ted observed that Ethereum remains above the $1,850 support zone, which has been critical for the ongoing market structure. Buyers appear to be maintaining their positions, offsetting recent selling pressure. This price zone continues to provide a foundation for potential short-term bullish momentum.

Ethereum faces immediate resistance near $1,920. If ETH can break through this barrier on strong volume, some analysts believe the price could recover further and approach the psychologically significant $2,000 level. Conversely, a failure to breach $1,920, or a slip below $1,850, could signal renewed weakness in the short term.

Ethereum has established $1,850 as a critical support, keeping buyers engaged despite market fluctuations. Overcoming resistance at $1,920 may lead to further gains and a possible move toward $2,000.

Network adoption and address growth accelerateEthereum’s network activity has been increasing, reflecting greater participation from users. According to Ali Charts, the number of new daily ETH addresses has climbed from 121,210 on August 8 to 212,560 at present. This surge in new addresses points to rising engagement in decentralized finance (DeFi), decentralized applications (DApps), and related ecosystem activities.

Mini dictionary: Ali Charts, a prominent blockchain analytics provider known for publishing on-chain data trends and market metrics for leading cryptocurrencies such as Ethereum and Bitcoin.

Consistent growth in active addresses is often interpreted as a sign of rising demand, which may support a positive outlook for ETH. Market participants continue to monitor these trends for confirmation of underlying bullish dynamics.

DateDaily ETH AddressesAugust 8121,210Current212,560Market outlook remains cautious amid broader trendsDespite positive network metrics and optimism from some analysts, Ethereum’s price is currently moving within a neutral range. Broader market conditions also play a role, as Bitcoin has experienced downward pressure, influencing the sentiment across the crypto sector.

The direction for Ethereum’s price will depend on its ability to maintain the $1,850 support while challenging the $1,920 resistance. A decisive breakout above resistance could trigger a move toward the $2,000 mark, buoyed by ongoing address growth and increased adoption.

Growth in new ETH wallets and active users could help sustain a positive market narrative, provided key technical levels are defended in the near term.

Overall, market participants will remain focused on key support and resistance levels, as well as fluctuations in network engagement, to gauge Ethereum’s next significant move.

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.

Study Finds $575M Lost Through Ethereum and BNB Chain Address Errors

Both Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) are considering tokenomics changes that would make them scarcer than gold by 2031, according to a new Grayscale research note.

What Would the Proposed Tokenomics Changes Actually Do?Grayscale Head of Research Zach Pandl wrote that both networks are considering code changes that would cut annual token inflation significantly. 

If implemented, ETH and Bitcoin (CRYPTO: BTC) would both sit at roughly 0.4% annual inflation by the end of 2031, while SOL would land at around 1.1%. 

Both figures sit below gold’s 1.8% annual supply growth and well below U.S. CPI inflation at 3.3%.

The mechanism is straightforward. Both networks currently issue new tokens as staking rewards. 

Reducing that issuance means fewer tokens enter circulation each year, and lower supply growth pushes scarcity higher, all else being equal.

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Pandl noted the Solana proposals appear to have broader community agreement and a better chance of passing. The Ethereum changes remain under active debate.

Who Benefits and Who Doesn’t From Lower InflationThe tradeoff cuts differently depending on how you hold. Token holders who stake would receive fewer new tokens since staking rewards come directly from inflation. 

Holders of unstaked ETH and SOL could benefit from the scarcity value increase. Whether stakers come out ahead depends on whether higher token prices offset the reduction in rewards.

Pandl’s bottom line is that both ETH and SOL power the leading blockchains for stablecoins and tokenized assets, and reduced inflation would add a scarcity premium on top of that existing utility demand.

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Cboe BZX Exchange, which is part of Cboe Global Markets (Cboe: CBOE), has submitted a formal request to the US Securities and Exchange Commission (SEC) seeking authorization to list and trade a new series of leveraged exchange-traded funds, including products designed to deliver three times the daily performance of bitcoin and ether.

The filing, submitted in early August 2026, also covers similarly structured funds linked to gold, silver, crude oil, and natural gas.

If approved, the bitcoin and ether versions would mark the first triple-leveraged crypto ETFs available to US investors.

These instruments aim to provide amplified daily exposure primarily by holding futures contracts traded on the Chicago Mercantile Exchange or COMEX, with cash and cash equivalents serving as collateral.

Volatility Shares LLC is set to serve as the sponsor, with the products organized as series under the VS Trust.

Because the proposed funds target leveraged returns, they fall outside Cboe’s existing generic listing standards for commodity-based trust shares, which generally prohibit such products.

As a result, the exchange must pursue a specific rule-change process under Section 19(b) of the Securities Exchange Act rather than relying on streamlined pathways available for non-leveraged offerings.

Cboe has indicated it will also file related registration statements under the Securities Act of 1933.

The structure positions the funds as commodity pools regulated primarily by the Commodity Futures Trading Commission (CFTC) rather than as traditional investment companies subject to the Investment Company Act of 1940.

This approach adds an extra layer of federal oversight compared with physical commodity-based exchange-traded products.

Leveraged ETFs of this type are generally intended for short-term tactical use by sophisticated traders rather than long-term holdings.

Their daily reset mechanism means that returns over multi-day periods can diverge substantially from a simple multiple of the underlying asset’s performance, especially in volatile markets.

Volatility Shares already offers double-leveraged bitcoin and ether products in the United States, so the new filings represent an extension of that product lineup to higher leverage levels.

Market observers note that the proposal arrives amid a broader expansion of crypto-related investment vehicles in the US, following the earlier approval of spot bitcoin and ether ETFs and subsequent developments in options trading on those products.

The SEC’s review process for the rule change typically involves a public comment period and a decision window that can extend to 45 days or longer after notice publication in the Federal Register.

Approval is not guaranteed.

Regulators will examine factors such as investor protection, market integrity, potential for manipulation, and the operational readiness of the proposed products.

Even if the exchange rule change receives clearance, trading cannot begin until the associated registration statements become effective.

The move underscores continued innovation in the regulated derivatives and ETF space as exchanges and sponsors seek to offer investors more tools for gaining exposure to digital assets and traditional commodities. For now, the filings remain under review, with no confirmed timeline for a final decision or potential launch.