Two-thirds of every dollar borrowed onchain now runs through Ethereum. According to Messari data, Ethereum and its liquid staking tokens account for 67% of all DeFi borrowing activity, a share that grew even as the broader lending market shrank by half.
The numbers behind the squeeze Total outstanding onchain lending sits at roughly $23 billion, according to Galaxy Research. That figure is a steep drop from the $46 billion highs reached in 2025, representing an approximately 50% decline by May 2026.
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The composition of that 67% is worth noting. It isn’t just vanilla ETH serving as collateral. Liquid staking tokens, think stETH from Lido and similar derivatives, make up a meaningful chunk of the borrowing base. Stakers are essentially double-dipping: earning staking yield while simultaneously using their staked assets as collateral to borrow against.
Aave’s quiet engine room If Ethereum is the highway, Aave is the toll booth collecting fees on most of the traffic. The lending protocol remains the dominant venue for DeFi borrowing and a primary driver of Ethereum’s outsized market share.
What a halved market reveals Liquid staking tokens play a particularly interesting role in this dynamic. They represent a form of collateral that generates its own yield, making loans backed by these assets inherently more attractive to both borrowers and lenders. A borrower posting stETH as collateral is effectively reducing their net borrowing cost by the staking yield they continue to earn.
What this means for the DeFi landscape A 67% market share in a $23 billion lending market positions Ethereum as the backbone of decentralized credit. As more ETH gets staked and tokenized, the pool of high-quality DeFi collateral grows, deepening liquidity and making the collateral more attractive to lending activity.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Bitcoin (BTC) and Ethereum (ETH) remain under pressure on Friday after mild gains, while Ripple (XRP) slides over 5% so far this week. BTC faces rejection near a key resistance barrier, and ETH has been trading sideways for the last 22 days. Meanwhile, XRP is gravitating its correction toward the key $1 support zone.
Bitcoin faces rejection near 50-day EMABitcoin price trades at $64,318 on Friday, maintaining a mildly bearish near-term bias as price holds beneath the 50-day Exponential Moving Average (EMA) at $64,637, as well as the 100-day EMA at $67,021 and the 200-day EMA at $73,149.
The Relative Strength Index (RSI) at 51 sits near neutral, while the Moving Average Convergence Divergence (MACD) hovers just below the zero line with a slightly negative reading, hinting at subdued bullish momentum and a market that remains capped by overhead trend filters.
On the topside, initial resistance is defined by the 50-day EMA at $64,637, with further hurdles at the 100-day EMA near $67,021 and the longer-term 200-day EMA at $73,149, before a higher horizontal barrier emerges at $84,410.
On the downside, immediate support is seen at the horizontal level around $64,004, where a daily close below this floor would likely open the way to a deeper corrective phase, while holding above it keeps BTC in a consolidative posture beneath the clustered moving-average resistance.
BTC/USDT daily chartEthereum remains directionlessEthereum price trades at $1,901 on Friday and has been trading sideways for the last 22 days between the 50-day EMA at $1,857 and the 100-day EMA at $1,925, keeping the near-term tone neutral.
Meanwhile, the 200-day EMA at $2,132 sits well overhead and reinforces the broader corrective backdrop, while the RSI around 55 hints at moderate, rather than impulsive, bullish momentum. The MACD indicator stays below zero, suggesting upside attempts could continue to face supply against the cluster of medium- and long-term averages.
On the topside, immediate resistance is located at the 100-day EMA near $1,925, with a stronger barrier at the psychological and chart level of $2,000 before the 200-day EMA at $2,132 comes into focus.
On the downside, initial support is provided by the 50-day EMA at $1,857, with a deeper technical floor seen at the horizontal level around $1,385 if selling pressure accelerates. As long as ETH trades between the $1,857–$1,925 band, price action is likely to remain directionless, awaiting a clear break to define the next trending phase.
ETH/USDT daily chartXRP remains under pressureXRP price trades at $1.03 on Friday, extending a bearish near-term bias as price remains decisively below the 50-day, 100-day and 200-day EMAs at $1.11, $1.19 and $1.38 respectively. The RSI at 36 hovers just above oversold territory, while the MACD indicator holds below zero with a negative line, suggesting waning momentum but not yet signaling a clear reversal.
On the topside, initial resistance is aligned with the 50-day EMA at $1.11, followed by the 100-day EMA at $1.19 and the horizontal barrier at $1.30, while the 200-day EMA at $1.38 and a higher horizontal level at $1.90 mark stronger caps for any recovery attempts.
On the downside, immediate support is seen at the psychological and structural floor around $1.00, and a decisive break beneath this level would likely open the door to further bearish extension in the coming sessions.
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.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Binance Wallet updates the bStocks Alpha trading volume reward mechanism: Certain assets are eligible for 4x rewards on designated trading days.
According to an official announcement, bStocks’ 4x Alpha trading volume reward mechanism will be adjusted starting at 00:00 UTC on August 8, 2026. Post-adjustment, trades of designated bStocks will earn 4x Alpha trading volume rewards from 00:00 UTC Monday to 23:59 UTC Friday, while trades of other bStocks will receive 1x rewards. From 00:00 UTC Saturday to 23:59 UTC Sunday, all bStocks trades will be eligible for a uniform 1x Alpha trading volume reward. The 1x/4x reward labels displayed for each bStock will be updated per the above UTC schedule. Users are advised to refer to these displayed labels before trading, as final Alpha trading volume is subject to system records.
1 seconds ago
Moscow Exchange plans to launch a digital asset custody system, which is expected to go live by the end of 2026 or early 2027.
Moscow Exchange (MOEX) is preparing to launch a digital custody system (digital depository platform) for crypto assets, a plan confirmed by multiple brokerage industry sources and individuals close to the exchange. The system will not be built on MOEX’s existing architecture, nor will it be integrated with Russia’s National Settlement Depository (NSD), but will operate as an independent infrastructure. The specific model is still under discussion, and Russia’s legal crypto market may eventually form multiple digital asset liquidity hubs, including Moscow Exchange and platforms operated by large financial institutions. Sources said the digital custody system is expected to launch by the end of 2026 or early 2027. Earlier, several major Russian banks—including Sber, VTB, T-Bank, and Alfa-Bank—also announced plans to build digital asset custody infrastructure. Under the plan, each brokerage client will hold an anonymous account in the digital custody system, essentially equivalent to an on-chain wallet address used to track investors’ crypto assets. Some market participants plan to conduct crypto trading exclusively through their own custody systems, while others are considering a hybrid model: trading on exchanges, with digital custody handled by banks or brokerages.
1 seconds ago
Morgan Stanley’s spot Bitcoin ETF MSBT has total holdings worth over $400 million.
According to the latest monitoring data from Arkham, Morgan Stanley’s spot Bitcoin ETF MSBT spent $7.21 million to add roughly 100.3 BTC to its holdings. As of now, its total Bitcoin position has crossed 6,300 for the first time, reaching 6,331 BTC valued at more than $406 million.
1 seconds ago
Coldcard hacker moves 30.185 $BTC ($1.94M) to new wallet after stealing 2,055 $BTC
The #Coldcard hacker, who stole 2,055 $BTC($130M), is active again. An hour ago, the hacker transferred 30.185 $BTC($1.94M) to a new wallet.
1 seconds ago
Spot gold breaks through $4,270, rising 0.71% intraday.
According to Bitget's market data, spot gold has broken through $4,270 per ounce, rising 0.71% on the day.
1 seconds ago
The hacker who stole 2055 BTC from Coldcard has resumed activity, transferring 30.18 BTC.
According to Lookonchain's monitoring, the Coldcard hacker who previously stole 2055 BTC (valued at approximately $130 million) has shown new suspicious fund movements. Around an hour ago, the hacker's address transferred 30.185 BTC (worth roughly $1.94 million) to a new wallet.
Ethereum’s supply has become increasingly concentrated as institutional investment products and corporate digital-asset treasuries amass larger holdings. According to data compiled by SoSoValue, Blockworks, and Binance Research as of July 1, 2026, investment vehicles such as exchange-traded funds (ETFs) and digital-asset treasury (DAT) companies have collectively acquired close to 11% of Ethereum’s total supply.
Corporate Ethereum holdings approach 8 million ETHCoinGecko reports that 32 companies currently control a combined total of 7,797,994 ETH, equivalent to about 6.46% of all Ethereum in circulation. This trend points to an emerging concentration, as a small group of institutions leads the accumulation of ETH for their treasuries.
BitMine Immersion Technologies has become a particularly notable holder, with approximately 5.79 million ETH in its treasury. SharpLink follows with about 869,000 ETH. The pace at which these holdings have expanded signals a shift in how firms approach long-term balance sheet management in the Ethereum ecosystem.
For existing ETH holders, these corporate strategies are significant. Treasury-focused companies generally buy and retain ETH for extended periods, in contrast to short-term traders, potentially tightening the immediately available supply on secondary markets.
Unlike short-term traders, treasury companies typically accumulate ETH to support long-term strategies and may restrict the amount of ETH circulating freely in the market.
ETFs intensify institutional ETH demandSpot Ethereum ETFs have created new channels for institutional capital. Since July 2024, U.S. spot ETH ETFs have provided investors with exposure to the asset without requiring direct management of ETH wallets. Staking-enabled ETF products, which allow holders to benefit from staking rewards, have further broadened institutional interest in the underlying asset itself.
According to SoSoValue, U.S. spot ETH ETFs had recorded $10.86 billion in total net inflows by July 1, with consistent inflows observed in early July. This shows traditional investors are engaging more actively with Ethereum, extending beyond typical crypto-native access.
ETFs and corporate treasuries currently represent two distinct pillars of institutional demand: ETFs package ETH exposure for investors and facilitate trading, while treasury firms purchase and sometimes stake ETH as long-term holdings.
Mini dictionary: Staking, a process in which holders lock up their cryptocurrency to support network operations such as block validation, in exchange for rewards.
Holder typeETH heldPercentage of supplyCorporate treasuries (32 firms)7,797,9946.46%BitMine Immersion Technologies5,790,0004.8%SharpLink869,0000.7%U.S. spot ETH ETFs (by value)$10.86 billionN/ASupply concentration and implications for ETHThe combined share of nearly 11% of supply between ETFs and treasury companies does not mean this portion is permanently unavailable to the market. ETF shares can be redeemed, and corporate treasuries may adjust their positions according to strategy or market conditions. The importance lies in assessing the likely duration and nature of these holdings.
ETH held by institutional investors can remain active within the broader ecosystem, particularly compared to coins sent to dormant wallets. Key considerations include whether these holders stake their ETH or participate in on-chain financial protocols, which can influence both liquidity and network security.
BitMine reported in July that its ETH treasury holdings had reached 5.77 million—approximately 4.8% of Ethereum’s total supply. Chairman Tom Lee described the company’s aim to control 5% of Ethereum’s circulating supply as a strategic objective.
BitMine’s substantial accumulation reflects its intention to establish a significant presence in the Ethereum ecosystem, underlining the growing influence of corporate buyers in shaping supply dynamics.
Long-term outlook: Infrastructure and Layer 2 growthEthereum’s role in new blockchain applications has also become a key driver behind institutional interest. The blockchain is being used as an underlying layer for tokenized asset platforms and other enterprise-oriented solutions, while infrastructure upgrades continue to support its technical capacity.
Binance highlighted the Fusaka upgrade released in May 2026, which expanded Ethereum’s data throughput with the PeerDAS solution. These improvements support growth across Layer 2 networks, enabling more complex applications and higher transaction volumes.
Mini dictionary: Fusaka upgrade, a major Ethereum protocol improvement that increased data bandwidth via PeerDAS, supporting enhanced scalability for decentralized applications and Layer 2 networks.
As tokenized finance and enterprise applications gain momentum, institutional accumulation of ETH increasingly ties the asset to the wider Ethereum economy, rather than just speculative trading.
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.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
The "Big Short" Michael Burry shorted Oracle at $144.63.
Michael Burry, the real-life inspiration behind *The Big Short*, disclosed his latest holdings: he shorted Oracle at $144.63 and Nebius at $211.77.
3 hours ago
Trade.xyz has once again used its perpetual contract fee revenue to acquire HYPE, transferring $3.25 million to start purchasing around 59,000 HYPE tokens.
According to MLM monitoring, Trade.xyz’s fee-receiving wallet has transferred $3.25 million from its perpetual contract fee wallet to its spot account, and has begun purchasing approximately 59,000 HYPE tokens worth around $3 million via a TWAP strategy. Earlier, on August 5, Trade.xyz transferred 250,000 USDC from its perpetual contract fee wallet to its spot account, using roughly $110,000 of that sum to buy 2,000 HYPE tokens, which were subsequently used to acquire a HIP-3 Ticker. This marks the first time Trade.xyz has used perpetual contract fee revenue to purchase HYPE; prior to this, all HYPE used for buying new HIP-3 Tickers was funded by spot fee revenue.
3 hours ago
OpenAI: Free users will receive unlimited text chat capabilities, and the company will update its GPT-5.6 Sol model.
OpenAI announced that ChatGPT will update GPT-5.6 Sol for Plus and Pro users, making responses more focused, factually reliable, and cutting unnecessary formatting and details. The model will support both instant answers and deep reasoning, with users able to adjust the level of thinking allocated to each response via a new slider. In internal evaluations of financial, medical, and legal queries, OpenAI found that compared to GPT-5.5 Instant, GPT-5.6 Luna reduced responses with at least one factual error by roughly 62%, while GPT-5.6 Sol saw a 68% drop. GPT-5.6 Luna will become the default model for Free and Go users this week. Starting next week, free users will get unlimited text chats and can handle queries requiring deeper reasoning via a new "Think" button, though they will remain subject to anti-abuse rules; file uploads, image tools, and other features will stay restricted. This update only applies to ChatGPT’s daily conversation experience—GPT-5.6 Sol used in Work and Codex will not be adjusted in this rollout.
3 hours ago
Proposed Iran-Oman Strait Agreement Faces Dual Hurdles: US Sanctions and Insurance Barriers
According to a Reuters report, four industry sources stated that a proposed agreement between Iran and Oman would grant Tehran control over vessels entering the Gulf via the Strait of Hormuz, but the deal faces implementation hurdles due to U.S. sanctions and restrictive insurance provisions governing any payments. Any toll measures would trigger significant compliance risks, as the U.S. has sanctioned Iran’s Persian Gulf Strait Administration, the entity operating the waterway. The U.S. Treasury also bans U.S. individuals and entities from accepting services related to "safe passage" offered by the Iranian government. Industry sources added that any such payment could result in asset freezes. Another complicating factor is a clause introduced by the Lloyd’s Market Association at the end of July for war risk underwriters: under this clause, insurance coverage would be terminated if a vessel pays transit fees, passage charges, or other fees to traverse the Strait of Hormuz. An insurance industry source noted that shipping companies are caught in a dilemma: the Lloyd’s Market Association clause prohibits insurers from providing coverage to shipowners making such payments, while Iran seeks to collect passage fees. (Jinshi)
3 hours ago
Amid Shiba Inu's price rebound, high win-rate buyers have stepped in, with a whale boasting a perfect 5-0 trading record opening a long position worth $4.78 million.
According to TradingBeats (formerly Hyperinsight) monitoring, the whale address 0x9bb — which profited from all 5 prior storage trades and twice transferred approximately $7.537 million back to its spot account — deposited 2.393 million USDC into Hyperliquid last night. Less than a minute after the funds arrived, the address began going long on SNDK, purchasing a total of 3,800.84 contracts within 4 minutes for a transaction value of around $4.783 million, with an average entry price of $1,258.5. As of press time, the whale holds a $4.853 million long position in SNDK with 2x isolated margin, the only position in its account. SNDK is currently trading at $1,276.8, with the position showing an unrealized profit of roughly $69,600, a return of ~2.9%, a liquidation price of $662.1, and no open orders set. Last night, SNDK hit a low of $1,168.3 before rebounding to $1,276.8, a ~9.3% rise from the low, but still down ~10.5% from the previous day’s benchmark price. The whale did not enter at the lowest point, but re-opened its position after the rebound had already started. Since starting trading in late July, this address has only traded storage assets, with all 5 completed directional trades turning profitable: - SNDK long: ~$1.374 million profit; - SKHX long: ~$785,000 profit; - SNDK short: ~$662,000 profit; - MU short: ~$309,000 profit; - SKHY short: ~$184,000 profit. SNDK’s 24-hour trading volume is approximately $936 million, open interest stands at ~$161 million, and its hourly funding rate is about +0.000625%.
3 hours ago
MetaMask officially launches Agent Wallet, supporting AI agents to autonomously execute on-chain transactions.
MetaMask has officially launched Agent Wallet, a self-custody AI agent wallet for traders and developers. Users can connect to agent frameworks including Claude Code, Codex, and OpenClaw, allowing agents to execute on-chain operations within preset rules. Agent Wallet supports Hyperliquid, as well as EVM-compatible chains such as Robinhood Chain and Monad. Agents can also perform ERC-7821 batch swaps and one-off transactions, eliminating the need to hold native on-chain tokens for gas fees, with MetaMask settling network costs from transferred assets. Before executing supported EVM transactions, MetaMask provides transaction simulation, threat scanning, and MEV protection. Eligible transactions that incur losses despite passing security checks are covered by up to $10,000 in monthly transaction protection. MetaMask stated that Agent Wallet’s core is to enable AI agents to execute transactions within permission boundaries set by users, rather than granting them unrestricted wallet access.
BlackRock’s IBIT and ETHA dominated a $305 million wave into U.S. spot crypto ETFs on August 5, taking over 80% of the day’s total inflows, according to data tracked by SoSoValue and highlighted in the original report.
The $197 million that entered IBIT added to its lead as the largest spot bitcoin ETF by assets. Combined with $50.34 million in BlackRock’s ETHA, the world’s largest asset manager—overseeing more than $15 trillion—accounted for the vast majority of the day’s activity. The numbers reinforce a pattern that has held since the products launched: institutional capital, when it moves, moves through BlackRock.
Institutions Favor the Heavyweight BlackRock’s dominance in spot crypto ETF flows is not accidental. IBIT and ETHA benefit from a liquidity advantage, a familiar brand among institutional allocators, and deep integration with existing portfolio management channels. Smaller issuers have struggled to match the asset-gathering speed, and even well-known competitors like Fidelity have seen inconsistent inflow patterns. On this day, BlackRock simply overwhelmed the field.
That concentration of flows mirrors broader institutional activity across digital assets. The same week saw a wave of real-world asset tokenization milestones, showing that institutional interest in blockchain infrastructure goes well beyond ETF products. Fund managers are not just buying exposure; they are exploring the underlying rails.
What August 5 Says About Risk Appetite A single day’s inflows rarely tell a full story, but the numbers are notable because they arrived during a stretch of mixed market sentiment. Crypto has been volatile into August, and spot ETF products have seen both heavy inflows and sudden outflows in recent weeks. That IBIT and ETHA pulled in such a large share on this particular day suggests that large allocators were adding rather than trimming—at least for the moment.
Ethereum’s $60.86 million total, mostly driven by ETHA, shows that institutional demand is not limited to bitcoin, though it remains smaller in scale. Behind the flows, Ethereum’s development activity remains robust—Ethereum and several Layer 2 networks consistently lead weekly developer activity rankings, providing confidence for institutional allocators looking beyond a pure store-of-value narrative.
The Regulatory Shadow ETF flows do not exist in a vacuum. The regulatory backdrop in Washington is fraying just as products gather assets. Banks are attempting to derail a landmark crypto bill days before a Senate vote, creating an uncertain environment that could slow the next wave of institutional onboarding if the legislation stalls or takes an unfavorable turn. The bill’s fate matters because clear rules would give risk committees more comfort when sizing allocations to spot crypto products.
Still, a single day’s data doesn’t erase the caution that hangs over the market. Outflows have hit these products before, and the regulatory picture remains unresolved. A sudden shift in macro conditions, a further legal challenge to spot ETFs, or a reversal in Grayscale’s discount compression could quickly change the flow picture. For now, BlackRock’s grip on ETF flows gives it outsized influence over the spot bitcoin and ether markets. The concentration of assets in a single issuer’s products raises questions about market structure, but it also signals that institutional capital has firmly chosen its preferred on-ramp.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
The "Big Short" Michael Burry shorted Oracle at $144.63.
Michael Burry, the real-life inspiration behind *The Big Short*, disclosed his latest holdings: he shorted Oracle at $144.63 and Nebius at $211.77.
3 hours ago
Trade.xyz has once again used its perpetual contract fee revenue to acquire HYPE, transferring $3.25 million to start purchasing around 59,000 HYPE tokens.
According to MLM monitoring, Trade.xyz’s fee-receiving wallet has transferred $3.25 million from its perpetual contract fee wallet to its spot account, and has begun purchasing approximately 59,000 HYPE tokens worth around $3 million via a TWAP strategy. Earlier, on August 5, Trade.xyz transferred 250,000 USDC from its perpetual contract fee wallet to its spot account, using roughly $110,000 of that sum to buy 2,000 HYPE tokens, which were subsequently used to acquire a HIP-3 Ticker. This marks the first time Trade.xyz has used perpetual contract fee revenue to purchase HYPE; prior to this, all HYPE used for buying new HIP-3 Tickers was funded by spot fee revenue.
3 hours ago
OpenAI: Free users will receive unlimited text chat capabilities, and the company will update its GPT-5.6 Sol model.
OpenAI announced that ChatGPT will update GPT-5.6 Sol for Plus and Pro users, making responses more focused, factually reliable, and cutting unnecessary formatting and details. The model will support both instant answers and deep reasoning, with users able to adjust the level of thinking allocated to each response via a new slider. In internal evaluations of financial, medical, and legal queries, OpenAI found that compared to GPT-5.5 Instant, GPT-5.6 Luna reduced responses with at least one factual error by roughly 62%, while GPT-5.6 Sol saw a 68% drop. GPT-5.6 Luna will become the default model for Free and Go users this week. Starting next week, free users will get unlimited text chats and can handle queries requiring deeper reasoning via a new "Think" button, though they will remain subject to anti-abuse rules; file uploads, image tools, and other features will stay restricted. This update only applies to ChatGPT’s daily conversation experience—GPT-5.6 Sol used in Work and Codex will not be adjusted in this rollout.
3 hours ago
Proposed Iran-Oman Strait Agreement Faces Dual Hurdles: US Sanctions and Insurance Barriers
According to a Reuters report, four industry sources stated that a proposed agreement between Iran and Oman would grant Tehran control over vessels entering the Gulf via the Strait of Hormuz, but the deal faces implementation hurdles due to U.S. sanctions and restrictive insurance provisions governing any payments. Any toll measures would trigger significant compliance risks, as the U.S. has sanctioned Iran’s Persian Gulf Strait Administration, the entity operating the waterway. The U.S. Treasury also bans U.S. individuals and entities from accepting services related to "safe passage" offered by the Iranian government. Industry sources added that any such payment could result in asset freezes. Another complicating factor is a clause introduced by the Lloyd’s Market Association at the end of July for war risk underwriters: under this clause, insurance coverage would be terminated if a vessel pays transit fees, passage charges, or other fees to traverse the Strait of Hormuz. An insurance industry source noted that shipping companies are caught in a dilemma: the Lloyd’s Market Association clause prohibits insurers from providing coverage to shipowners making such payments, while Iran seeks to collect passage fees. (Jinshi)
3 hours ago
Amid Shiba Inu's price rebound, high win-rate buyers have stepped in, with a whale boasting a perfect 5-0 trading record opening a long position worth $4.78 million.
According to TradingBeats (formerly Hyperinsight) monitoring, the whale address 0x9bb — which profited from all 5 prior storage trades and twice transferred approximately $7.537 million back to its spot account — deposited 2.393 million USDC into Hyperliquid last night. Less than a minute after the funds arrived, the address began going long on SNDK, purchasing a total of 3,800.84 contracts within 4 minutes for a transaction value of around $4.783 million, with an average entry price of $1,258.5. As of press time, the whale holds a $4.853 million long position in SNDK with 2x isolated margin, the only position in its account. SNDK is currently trading at $1,276.8, with the position showing an unrealized profit of roughly $69,600, a return of ~2.9%, a liquidation price of $662.1, and no open orders set. Last night, SNDK hit a low of $1,168.3 before rebounding to $1,276.8, a ~9.3% rise from the low, but still down ~10.5% from the previous day’s benchmark price. The whale did not enter at the lowest point, but re-opened its position after the rebound had already started. Since starting trading in late July, this address has only traded storage assets, with all 5 completed directional trades turning profitable: - SNDK long: ~$1.374 million profit; - SKHX long: ~$785,000 profit; - SNDK short: ~$662,000 profit; - MU short: ~$309,000 profit; - SKHY short: ~$184,000 profit. SNDK’s 24-hour trading volume is approximately $936 million, open interest stands at ~$161 million, and its hourly funding rate is about +0.000625%.
3 hours ago
MetaMask officially launches Agent Wallet, supporting AI agents to autonomously execute on-chain transactions.
MetaMask has officially launched Agent Wallet, a self-custody AI agent wallet for traders and developers. Users can connect to agent frameworks including Claude Code, Codex, and OpenClaw, allowing agents to execute on-chain operations within preset rules. Agent Wallet supports Hyperliquid, as well as EVM-compatible chains such as Robinhood Chain and Monad. Agents can also perform ERC-7821 batch swaps and one-off transactions, eliminating the need to hold native on-chain tokens for gas fees, with MetaMask settling network costs from transferred assets. Before executing supported EVM transactions, MetaMask provides transaction simulation, threat scanning, and MEV protection. Eligible transactions that incur losses despite passing security checks are covered by up to $10,000 in monthly transaction protection. MetaMask stated that Agent Wallet’s core is to enable AI agents to execute transactions within permission boundaries set by users, rather than granting them unrestricted wallet access.
Ethereum saw an increase in spot price while futures trading activity declined sharply across leading centralized exchanges. Over the five-day period from August 1 to August 5, trading in Ethereum futures fell by double digits, yet ETH’s price maintained upward momentum during the same timeframe.
Futures participation contracts despite price rallyBetween August 1 and August 5, Ethereum futures volume on Binance dropped from $9 billion to $7.5 billion, a decrease of 16.7%. At the same time, futures volume on exchanges apart from Binance declined by 17.5%, falling from $14.3 billion to $11.8 billion.
This drop in activity underscores a notable split between price action and derivative trading. While Ethereum’s spot demand appears steady, overall trader interest and leverage in the futures markets remain muted. Market analysts have pointed out that this pattern marks a departure from prior rallies where surging futures participation drove rapid price moves.
Despite fewer traders opening new positions, Ethereum’s price advanced, highlighting a rally not propelled by increased risk-taking in futures markets.
However, lower futures volumes alone do not automatically signal a reduction in trading leverage. The current data, though, is consistent with more conservative positioning from futures traders relative to previous periods of market volatility.
Earlier in the year, Ethereum experienced a sharp price drop, tumbling from around $2,400 to $1,550. That correction followed a period of heightened futures activity, particularly on platforms other than Binance.
On April 19, Binance recorded $3.4 billion in Ethereum futures volume, while all other exchanges combined saw $22 billion. By August 5, aggregate Ethereum futures volume across exchanges had fallen approximately 24% compared to April. The reduction was more severe on non-Binance platforms, with these exchanges seeing a 46% drop in volume versus April levels.
Binance, by contrast, logged a significant surge in futures activity. The exchange’s Ethereum futures volume rose about 121% from its April levels, offsetting part of the broader decrease elsewhere. This shift has led to a market landscape in which Binance now holds a much larger share of global Ethereum futures turnover.
The overall decline in non-Binance exchange activity is contributing to the lower total futures market volume, with Binance’s rising figures now shaping market dynamics far more than earlier in the year.
Binance is one of the world’s largest cryptocurrency exchanges, offering both spot and derivatives trading to a global user base.
Mini dictionary: Binance, a leading global cryptocurrency exchange known for high liquidity, broad asset support, and extensive spot and derivatives trading options.
ExchangeApril 19 Futures VolumeAugust 5 Futures VolumeChange (%)Binance$3.4 billion$7.5 billion+121%Non-Binance$22 billion$11.8 billion-46%All exchanges$25.4 billion$19.3 billion-24%At the close of the period, Ethereum was trading at $1,901.50, gaining 1.43% over 24 hours, though it had declined 1.04% over the previous week. The 24-hour trading volume for Ethereum stood near $8.47 billion.
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.
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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Coinbase has temporarily suspended six non-USD pairs across its platforms, including Coinbase Exchange, Advanced Trade, and Coinbase Prime. The affected pairs are LSETH-ETH, MINA-EUR, GRT-GBP, MASK-GBP, CHZ-USDT, and CRO-USDT. The move, announced on August 6, 2026, aims to improve market health and consolidate liquidity. This decision could influence market perceptions, particularly regarding the liquidity and price stability of assets like Ethereum.
In the wake of this announcement, market participants appear to anticipate potential liquidity concerns, which may affect Ethereum’s future price outlook. Current market pricing suggests a decrease in the likelihood of Ethereum reaching $10,000 by the end of 2026. The odds for Ethereum achieving this price have already shown a reduction, with current predictions reflecting a 1.7% likelihood, down from 2% the previous day.
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These developments occur amid ongoing discussions about market conditions and regulatory environments impacting cryptocurrency exchanges. The suspension could lead to shifts in strategies and liquidity distribution across different pairs.
Key Takeaways Coinbase has suspended six non-USD pairs to consolidate liquidity, affecting market perceptions of Ethereum’s price potential. Market odds suggest a decreased likelihood of Ethereum reaching $10,000 by the end of 2026, with current pricing at 1.7% YES. The suspension appears to contribute to concerns about liquidity and price stability in the cryptocurrency markets. What to Watch Market participants will be closely monitoring any further announcements from Coinbase related to the suspension’s duration and its impact on liquidity. Additionally, any regulatory developments or changes in market conditions could further influence Ethereum’s price predictions. Observers will also be attentive to potential shifts in liquidity and volumes across other exchanges that could affect Ethereum’s price trajectory.
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Term Structure
Contract Odds Δ since publish Volume 24h December 31, 2026 1.7% — — View market → December 31, 2026 2.6% — — View market → December 31, 2026 2.8% — — View market → December 31, 2026 4.3% — — View market → December 31, 2026 5.5% — — View market → January 1 2027 9.5% — — View market → January 1 2027 12.5% — — View market → January 1 2027 2.1% — — View market → January 1 2027 2.9% — — View market → January 1 2027 2.9% — — View market → January 1 2027 4.3% — — View market → January 1 2027 6.5% — — View market → January 1 2027 43.5% — — View market → January 1 2027 7.5% — — View market → January 1 2027 2.9% — — View market → January 1 2027 41% — — View market → January 1 2027 18.5% — — View market → January 1 2027 16% — — View market → January 1 2027 88% — — View market → January 1 2027 56.5% — — View market →
BlackRock (NYSE:BLK) plans to implement a 1-for-3 reverse share split for its iShares Ethereum Trust ETF (NASDAQ:ETHA) on Oct. 6, according to an SEC filing.
The move will consolidate every three ETHA shares into one, increasing the ETF’s per-share net asset value without changing the total value of investors’ holdings or the fund’s overall assets.
• iShares Ethereum Trust ETF stock is showing downward pressure. What should traders watch with ETHA?
QUICK CONTEXT: Why ETF Reverse Splits MatterETF issuers typically use reverse stock splits to raise the trading price of a fund while keeping investors’ total ownership value unchanged. The process reduces the number of outstanding shares in proportion to the increase in share price, leaving the fund’s net assets intact.
For crypto ETFs such as ETHA, reverse splits can help maintain a more practical trading price after prolonged declines or improve operational efficiency by reducing the number of shares outstanding. Such actions are relatively common among ETFs and generally do not affect the fund’s investment strategy, holdings, or performance.
Price PerformanceETHA Price Action: iShares Ethereum Trust ETF shares were down 0.31% at $14.44 at the time of publication on Thursday, according to Benzinga Pro data.
The fund, with a market cap of $5.23 billion, has experienced significant volatility over the past year, reflected in its 52-week range of $11.52 to $36.80, indicating a sharp decline from its high. This dramatic fluctuation underscores the broader uncertainty and speculative nature surrounding cryptocurrency investments, particularly in the context of evolving regulatory landscapes and market sentiment.
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Martinez expects the next test to come around $1,980 and $2,080 before Ethereum challenges higher resistance levels.
Crypto analyst Ali Martinez said on August 6 that Ethereum’s recent move above a major MVRV pricing level could open the way toward a $3,000 target.
The market watcher’s view is based on historical on-chain patterns that have previously appeared before major ETH recoveries, though resistance levels remain ahead.
Ethereum Reclaims MVRV Level as Analysts Watch $3K Target “ETHEREUM IS HEADING TO $3,000,” Martinez announced in a post on X.
He said the asset turned bullish after breaking above its 0.8 MVRV Pricing Band near $1,800 and explained that this level has historically acted as a point where ETH goes from weakness into recovery phases.
The move followed an earlier July 6 post from the analyst, where he had identified $1,800 as the level Ethereum needed to clear. At the time, ETH was testing that area as resistance, with a successful daily close above it expected to increase the chances of a move toward its Realized Price.
In his August 6 post, Martinez confirmed that the world’s second-largest cryptocurrency had since reclaimed the MVRV as support. According to him, similar recoveries over the last six years have often led Ethereum toward, or above, its Realized Price, which currently sits near $2,300.
He also pointed to an MVRV Momentum golden cross that formed after ETH’s recovery, with previous signals of this type being followed by rallies of 50%, 166%, 74%, and 113%. The metric compares Ethereum holder profitability with its 160-day moving average and is used by analysts to track shifts between selling periods and recovery phases.
The asset was trading around $1,900 at the time of writing after rising 1.6% in the last 24 hours. It has gained almost 7% over the last 30 days but remains down more than 47% over the last year. ETH reached an all-time high near $4,950 in August 2025 and is still around 62% below that level.
You may also like: Ethereum’s Network Is Booming, So Why Is ETH Still Underperforming? Ethereum Just Had Its Best Month in a Year: Can ETH Keep Rallying in August? Bitcoin, Ethereum Outperform Markets in July as Chip Stocks Plunge 22% According to Martinez, the $3,000 area is the next major target if buying pressure continues. The analyst pointed to on-chain transaction data showing more than 10 million ETH previously changed hands around that price, making it a major resistance zone.
Market Watches Ethereum’s Breakout Attempt Other traders have also focused on Ethereum’s recovery, with trader Ted Pillows saying it could move toward $2,000 if it holds the $1,800 region following an 18.5% jump in July, adding that the fact that there was spot buying activity was a positive sign.
Michaël van de Poppe also said holding $1,800 could lead to a move above $2,000 and then toward $2,300.
Some traders believe a stronger ETH move could improve sentiment across the wider market, possibly affecting the next phase for altcoins, although that depends on whether Ethereum can continue breaking through resistance levels.
For now, Martinez’s $3,000 forecast relies on ETH maintaining its MVRV breakout and continuing the pattern seen in previous cycles. According to him, the next areas traders should be watching are around $1,980 to $2,080, followed by the $2,773 region he had mentioned in a previous update.
Ethereum Foundation is recruiting a protocol security researcher to use artificial intelligence, fuzz testing, and manual audits to find vulnerabilities across Ethereum’s core infrastructure.
Summary
The researcher will examine Ethereum’s execution, consensus, networking, specifications, and client software. Responsibilities include AI-assisted vulnerability mining, hard fork reviews, fuzzing, audits, and disclosure coordination. The global remote opening follows the Foundation’s decision to cut 54 roles during a broader restructuring. Ethereum’s security team recently confirmed that its AI agents had identified real protocol bugs. Ethereum security role covers the full protocol According to the job posting, the researcher will join the Ethereum Foundation’s Protocol Security team and investigate weaknesses across several parts of the network.
The work covers the execution layer, which processes transactions and smart contracts, and the consensus layer, which coordinates validators. It also extends to Ethereum’s peer-to-peer network, technical specifications, and the client programs that implement protocol rules.
Key responsibilities include developing fuzzing tools, reviewing changes scheduled for hard forks, manually auditing protocol updates, and coordinating the responsible disclosure of confirmed vulnerabilities. The researcher will also use AI systems to support automated vulnerability discovery.
Ethereum Foundation outlines duties for its AI security researcher role | Source: Ethereum Foundation Such a combination reflects the limits of fully automated security testing. AI tools can generate large numbers of possible findings, but researchers must reproduce each issue, assess its impact, and separate genuine vulnerabilities from false positives.
Candidates need extensive knowledge of the Ethereum protocol. The Foundation said it prefers engineers who have contributed directly to protocol development or understand execution-layer and consensus-layer specifications.
Relevant programming languages include Go, Rust, Java, C#, Nim, and Python. The remote position is open to candidates in Europe and other regions globally.
AI tools have already found Ethereum bugs The hiring follows the Ethereum Foundation’s recent tests of coordinated AI agents against protocol code, cryptographic software, and other systems used by the network.
In a July 9 technical post, the Protocol Security team said the agents had uncovered genuine flaws.
“The agents found real bugs…Agents finding bugs wasn’t the surprise. The surprise was how little of the work went into finding them, and how much went into telling the real bugs from the ones that just looked real.”
One confirmed finding was a remotely triggered panic in libp2p’s gossipsub component, part of the peer-to-peer layer used by Ethereum consensus clients. Developers fixed the flaw before it was disclosed as CVE-2026-34219.
However, the team said most of the work involved determining which AI-generated findings were real. Researchers required reproducible evidence, proof-of-concept code, and human review before treating a report as a vulnerability.
The new role formalizes that workflow by combining automated discovery with manual verification and disclosure management.
Hiring follows Ethereum Foundation restructuring The recruitment comes less than a month after the Foundation dissolved its Protocol Support team as part of a restructuring that eliminated 54 positions, or about 20% of its workforce.
Protocol Support previously coordinated core developer meetings, tracked network upgrades, helped contributors navigate Ethereum Improvement Proposals, and operated training programs for new protocol developers.
Several former Foundation researchers have since moved into independent organizations. Former employees Mo Jalil, Oskar Thorén, and Aaryamann Challani created EthSystems, a for-profit company developing confidential Ethereum infrastructure for regulated institutions. Bitmine, SharpLink, and Consensys CEO Joe Lubin backed the venture.
Former Foundation researcher Francesco D’Amato also joined independent protocol research group Ethlabs on July 16.
The latest opening suggests the organization is still adding specialized staff in areas it considers essential, even as some development and coordination work shifts outside the Foundation.
Security remains central to Ethereum governance The Foundation also appointed security researcher Pascal Caversaccio to its board on July 29 for an initial one-year voluntary term. His appointment expanded the board to four members and reinforced its stated focus on security, privacy, and censorship resistance.
For U.S. investors, protocol security has direct relevance because Ethereum supports spot exchange-traded funds, stablecoins, tokenized assets, and financial applications used by American institutions. A flaw affecting consensus or client implementations could disrupt infrastructure far beyond the Foundation itself.
The hiring process does not indicate that a new vulnerability has been discovered. Instead, the role expands the team responsible for reviewing future hard forks and finding weaknesses before protocol changes reach the main network.
On-chain data reveals that major XRP holders have continued building positions throughout the recent market decline, even as prices remained range-bound. At the same time, Ethereum metrics highlight more evident paper losses among its broader holder base compared with Bitcoin and XRP.
According to analysis from CryptoQuant, average spot order sizes for XRP have stayed within the firm’s “big whale” category while the token traded between roughly $1.00 and $1.20.
The 90-day taker cumulative volume delta has moved into neutral territory after earlier buy-side dominance.
This combination points to passive absorption of available supply rather than forceful market buying or outright capitulation.
Large participants appear to be steadily positioning without aggressively driving prices higher, creating what the firm describes as quiet accumulation within a potential basing range.
Ethereum presents a sharper valuation contrast.
The asset has been trading near $1,900, below its realized price of approximately $2,450.
Realized price estimates the average cost basis of all circulating coins based on their last on-chain movement.
This leaves the aggregate Ethereum holder community underwater on paper.
By comparison, Bitcoin has traded around $64,000, above its realized price near $52,900, while XRP sits near $1.10 against a realized level of about $0.75.
Among the three, Ethereum is the only one currently priced below the average purchase cost of its supply, placing it in what CryptoQuant identifies as a historically late-stage bear-market valuation zone.
Holder cohort data for Ethereum further illustrates divergence between large and smaller participants.
Addresses holding between 10,000 and 100,000 ETH have expanded their combined balances to record levels near 19.6 million tokens, up from about 14 million in mid-2025.
Mega-whale wallets controlling more than 100,000 ETH have added roughly 1.8 million tokens since the middle of 2025, an increase of around 70 percent that lifted their total from approximately 2.6 million to 4.6 million.
Meanwhile, the 1,000-to-10,000 ETH group has reduced holdings by about 2.7 million tokens since January, falling from a peak near 15.6 million to roughly 12.9 million.
This pattern reflects stronger hands absorbing supply from weaker ones during the downturn.Bitcoin whales, excluding exchange and mining-pool addresses, have also increased exposure.
Their balances rose through 2026 to about 3.06 million BTC after bottoming near 2.87 million in December 2025, with particularly strong buying when prices fell below $60,000 in June.
These holdings remain below the prior cycle peak near 3.23 million BTC.
CryptoQuant frames the overall activity—large cohorts adding supply as prices approach or fall below realized levels—as consistent with the final phase of a bear market.
Reduced downside pressure from concentrated ownership among larger holders improves the risk-reward profile.
However, the firm notes that pure valuation metrics still leave room for potential further declines before a durable floor is confirmed, with Ethereum’s position below its cost basis remaining a key watchpoint. These on-chain signals suggest selective smart-money accumulation amid broader market stress, though confirmation of a lasting bottom has yet to emerge.
Crypto ETF options let traders buy calls and puts on Bitcoin and Ethereum exchange-traded funds. This guide explains how they work, why they matter, and what strategies traders actually use.
Summary
Crypto ETF options are standardized contracts that give the holder the right to buy or sell shares of a cryptocurrency exchange-traded fund at a set price before a set date The US Securities and Exchange Commission approved options on spot Bitcoin ETFs in late 2024, and options on spot Ethereum ETFs followed in 2025 Call options profit when the underlying ETF rises; put options profit when it falls, and both can be used for hedging, income generation, or directional bets The options market for Bitcoin ETFs has grown to rival the spot market in notional volume, with daily trading regularly exceeding $2 billion in notional value Options pricing depends on the strike price, time to expiration, implied volatility, and interest rates, all of which behave differently for crypto ETFs than for traditional equity ETFs Options on cryptocurrency exchange-traded funds arrived in the United States in late 2024 and immediately changed how institutional and retail traders interact with the crypto market. Before these products existed, traders who wanted leveraged or hedged exposure to Bitcoin or Ethereum had two choices: trade perpetual futures on offshore exchanges or use the limited options contracts available on platforms like Deribit. Both paths carried counterparty risk, regulatory ambiguity, and operational complexity that kept most traditional finance participants on the sidelines.
The approval of options on spot Bitcoin ETFs changed that equation. For the first time, a trader with a standard brokerage account at Fidelity, Schwab, or Interactive Brokers could buy a call option on Bitcoin exposure using the same interface, the same clearing infrastructure, and the same regulatory protections that apply to options on the S&P 500.
This guide explains what crypto ETF options are, how they are priced, what strategies traders use, and where the risks hide.
How options work at the most basic level An option is a contract that gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a specific price on or before a specific date. The buyer pays a premium for this right. The seller (also called the writer) collects the premium and takes on the obligation.
There are two types of options. A call option gives the buyer the right to buy the underlying asset at the strike price. A put option gives the buyer the right to sell the underlying asset at the strike price. Every option contract specifies four things: the underlying asset (in this case, shares of a crypto ETF), the strike price, the expiration date, and whether it is a call or a put.
When a trader buys a call option on IBIT (BlackRock’s spot Bitcoin ETF) with a strike price of $50 and an expiration date 30 days away, they are paying a premium today for the right to buy 100 shares of IBIT at $50 per share at any point in the next 30 days. If IBIT rises to $60, the option is worth at least $10 per share, or $1,000 per contract. If IBIT stays below $50, the option expires worthless and the trader loses only the premium paid.
Put options work in the opposite direction. A trader who buys a put option on IBIT with a $50 strike profits when IBIT falls below $50. The put gives them the right to sell at $50 even if the market price drops to $40, $30, or lower.
Which crypto ETF options are available As of mid 2026, options are available on several spot cryptocurrency ETFs listed in the United States. The most actively traded include options on IBIT (BlackRock iShares Bitcoin Trust), FBTC (Fidelity Wise Origin Bitcoin Fund), and ETHA (BlackRock iShares Ethereum Trust). The Options Clearing Corporation (OCC) clears all of these contracts, providing the same counterparty guarantee that backs every listed option in the US market.
The approval process was not instant. The SEC approved spot Bitcoin ETFs in January 2024 but did not approve options on those ETFs until October 2024. The delay reflected concerns about market manipulation, position limits, and the interaction between spot crypto markets (which trade 24/7) and options markets (which trade during US exchange hours). The SEC ultimately set position limits of 25,000 contracts for Bitcoin ETF options, later expanded as liquidity grew.
Ethereum ETF options followed a similar path. Spot Ethereum ETFs launched in July 2024, and options approval came in 2025 after the SEC reviewed trading data from the initial months of spot ETF trading.
The volume numbers tell the adoption story. IBIT options regularly rank among the top 10 most actively traded option contracts in the entire US market, alongside options on SPY, QQQ, and AAPL. On peak days, IBIT options volume has exceeded 1.5 million contracts, representing notional exposure to billions of dollars in Bitcoin.
How crypto ETF options are priced Options pricing follows the Black-Scholes framework, modified for the specific characteristics of crypto ETFs. The five primary inputs are the current price of the underlying ETF, the strike price, the time to expiration, the risk-free interest rate, and the implied volatility of the underlying asset.
Implied volatility is where crypto ETF options diverge most dramatically from traditional equity options. The implied volatility of Bitcoin ETF options typically ranges from 50% to 90% annualized, compared to 15% to 25% for S&P 500 options. This higher volatility means crypto ETF options are significantly more expensive in absolute terms than options on traditional equity ETFs.
The volatility smile, a pattern where out-of-the-money options trade at higher implied volatilities than at-the-money options, is particularly pronounced in crypto ETF options. Put options on Bitcoin ETFs tend to trade at elevated implied volatilities because the market prices in the possibility of sharp drawdowns. Call options far above the current price also carry premium because Bitcoin has historically produced large upside moves that would be considered extreme outliers in equity markets.
Time decay, measured by the Greek letter theta, erodes option value as expiration approaches. This effect is especially important for crypto ETF options because the high implied volatility means the absolute dollar amount of daily time decay is larger than for comparable equity options. A 30-day at-the-money call option on IBIT might lose $0.15 to $0.25 per day in time value, while a similar option on SPY might lose $0.05 to $0.10.
Delta measures how much the option price changes for a $1 move in the underlying ETF. An at-the-money call has a delta near 0.50, meaning it moves roughly $0.50 for every $1 move in the ETF. Deep in-the-money options have deltas approaching 1.0 and behave almost like the underlying shares. Far out-of-the-money options have low deltas and are essentially leveraged bets on large price moves.
Strategies traders actually use The strategies applied to crypto ETF options range from simple directional bets to complex multi-leg structures. The most common fall into four categories: directional, income, hedging, and volatility.
Long calls and long puts are the simplest directional strategies. A trader who expects Bitcoin to rise buys calls. A trader who expects Bitcoin to fall buys puts. The maximum loss is limited to the premium paid, while the potential profit is theoretically unlimited for calls and substantial for puts (down to zero on the underlying). The appeal of long options is defined risk: a trader knows exactly how much they can lose before entering the trade.
Covered calls are the most popular income strategy. A trader who holds shares of IBIT sells call options against those shares, collecting the premium as income. If IBIT stays below the strike price, the calls expire worthless and the trader keeps both the shares and the premium. If IBIT rises above the strike, the shares are called away at the strike price, capping the upside. Covered call strategies on Bitcoin ETFs can generate annualized yields of 20% to 40% because of the high implied volatility, far above the 5% to 10% typical for equity covered calls.
Protective puts serve as portfolio insurance. A trader who holds IBIT and wants to protect against a drawdown buys put options at a strike price below the current market. If Bitcoin drops sharply, the put gains value and offsets losses on the underlying position. The cost of this insurance is the put premium, which can be significant given crypto’s high implied volatility.
Vertical spreads reduce the cost of directional bets by combining a long option with a short option at a different strike. A bull call spread involves buying a call at a lower strike and selling a call at a higher strike. The sold call reduces the net premium paid but caps the maximum profit. Bear put spreads work the same way in reverse. Spreads are popular among traders who have a directional view but want to reduce their cost basis and define their maximum risk.
Straddles and strangles are volatility strategies that profit from large moves in either direction. A straddle involves buying both a call and a put at the same strike price. A strangle involves buying a call and a put at different strike prices, with the call strike above and the put strike below the current price. These strategies are commonly used around major events such as Federal Reserve meetings, Bitcoin halving events, or regulatory announcements that could move the market sharply in either direction.
Calendar spreads exploit differences in time decay between near-term and longer-term options. A trader sells a short-dated option and buys a longer-dated option at the same strike price. The trade profits when the near-term option decays faster than the longer-term option, which typically occurs when the underlying price stays near the strike. Calendar spreads are particularly attractive on crypto ETFs because the high implied volatility produces larger absolute differences in time decay between expirations, creating wider profit zones than the same structure would offer on a traditional equity ETF.
Why the options market matters for crypto prices The growth of the crypto ETF options market has introduced a feedback mechanism that did not previously exist in cryptocurrency markets. Market makers who sell options must continuously hedge their exposure by buying or selling the underlying ETF shares. This hedging activity, known as delta hedging, can amplify or dampen price moves depending on the aggregate positioning of the options market.
When market makers are net short gamma (meaning they have sold more options than they have bought), their hedging activity amplifies price moves. They must buy more shares as prices rise and sell more shares as prices fall, creating a positive feedback loop. When market makers are net long gamma, the opposite occurs: their hedging activity dampens price moves by requiring them to sell into rallies and buy during dips.
The concept of a “max pain” price, the price at which the most options expire worthless and option sellers retain the most premium, has become a closely watched metric in crypto markets. As expiration approaches, the hedging flows of market makers tend to push the price of the underlying ETF toward the max pain level, creating a gravitational effect that did not exist when crypto traded without a listed options market.
Open interest data from crypto ETF options provides a transparent view of market positioning that was previously available only through offshore derivatives exchanges. Analysts can see where large concentrations of calls and puts are positioned, which strike prices act as support or resistance, and how the market’s expectations for future volatility compare to realized volatility.
Risks specific to crypto ETF options Crypto ETF options carry all the standard risks of options trading plus several risks unique to the crypto market.
Volatility risk cuts both ways. High implied volatility makes options expensive to buy. A trader who buys a call option may be correct about the direction of Bitcoin but still lose money if implied volatility drops (a phenomenon called “vol crush”). This commonly occurs after anticipated events when uncertainty resolves and implied volatility collapses.
Weekend and after-hours risk exists because Bitcoin trades 24/7 but ETF options trade only during US market hours. A significant price move over the weekend is fully reflected in the ETF price at Monday’s open, which can cause large gaps in option values. A trader who sold puts on Friday afternoon may face substantial losses on Monday morning if Bitcoin dropped 15% over the weekend.
Liquidity risk varies significantly across strikes and expirations. At-the-money options on IBIT are extremely liquid, with tight bid-ask spreads of $0.01 to $0.03. But far out-of-the-money options or options with distant expirations can have spreads of $0.10 to $0.30, which materially affects the cost of entering and exiting positions.
Correlation risk affects traders who use crypto ETF options to hedge positions in actual cryptocurrency. The ETF price tracks the spot price of Bitcoin closely but not perfectly. Tracking error, fund fees, and the mismatch between 24/7 crypto markets and traditional market hours can cause the ETF to diverge from spot Bitcoin at exactly the moment a hedge is needed most.
Assignment risk applies to sellers of American-style options, which can be exercised at any time before expiration. A trader who has sold in-the-money call options may be assigned at an inconvenient time, forcing them to deliver shares they may not hold.
What this does not cover This guide does not cover the tax treatment of options trading, which varies by jurisdiction and can be complex when options expire, are exercised, or are closed before expiration. It does not cover the specific margin requirements set by individual brokers, which can differ from the minimum requirements set by the OCC. It does not cover options strategies involving more than two legs, such as iron condors, butterflies, or ratio spreads, which require a deeper understanding of options Greeks and risk management. It does not cover options on crypto futures ETFs, which existed before spot ETFs and have different pricing dynamics due to the futures roll cost embedded in the underlying product.
Practical checks for evaluating a crypto ETF options trade Check the implied volatility rank. Compare the current implied volatility to its range over the past 30, 60, and 90 days. If implied volatility is in the top quartile of its recent range, options are relatively expensive, which favors selling strategies. If implied volatility is in the bottom quartile, options are relatively cheap, which favors buying strategies.
Check the bid-ask spread. Divide the spread by the midpoint price to get the spread as a percentage of the option value. If this number exceeds 5%, the transaction costs will significantly erode returns, particularly for strategies that require multiple legs.
Check the event calendar. Identify any upcoming events (FOMC meetings, ETF flow reports, Bitcoin network upgrades, regulatory deadlines) that could cause a volatility spike or collapse. Buying options before a volatility event and selling them after is a common mistake that results in losses even when the directional call is correct.
Check the Greeks. Know your delta exposure (directional risk), gamma exposure (how delta will change), theta (daily time decay cost), and vega (sensitivity to implied volatility changes). For multi-leg strategies, calculate the net Greeks of the entire position, not just the individual legs.
Check the position size. Options provide leverage, which means losses can accumulate quickly. A common guideline is to risk no more than 1% to 3% of total portfolio value on any single options trade. For crypto ETF options, where the underlying asset can move 10% or more in a single day, conservative position sizing is especially important.
Can I trade crypto ETF options in a retirement account? Yes, most US brokers allow options trading in IRA accounts, but the available strategies are typically restricted. Covered calls and cash-secured puts are generally permitted. Naked option selling and complex multi-leg strategies usually require a margin account, which is not available in most retirement accounts.
What happens to my options if a crypto ETF is delisted? If a crypto ETF is delisted, the OCC establishes a settlement process based on the final trading price or net asset value. Open options are typically settled in cash at the intrinsic value. This has not occurred with any major crypto ETF to date, but the OCC has established procedures that parallel those used for equity delistings.
Are crypto ETF options more expensive than Deribit options? In absolute dollar terms, listed ETF options and Deribit options on Bitcoin are priced similarly because both markets compete for the same flow. However, listed ETF options have tighter bid-ask spreads, OCC clearing guarantees, and no counterparty risk to the exchange itself. Deribit offers 24/7 trading and exotic expirations that listed options do not.
How do weekly vs. monthly options differ for crypto ETFs? Weekly options expire every Friday and have lower absolute premiums but higher annualized time decay rates. Monthly options expire on the third Friday of each month and have higher absolute premiums but slower daily decay. Weekly options are popular for short-term directional bets and income strategies, while monthly options are more commonly used for hedging and longer-term positioning.
What is the minimum account size needed to trade crypto ETF options? There is no regulatory minimum for buying options. A single IBIT call option might cost $100 to $500 depending on the strike and expiration. However, selling options requires margin, and most brokers require a minimum account balance of $2,000 to $25,000 for options selling privileges, depending on the strategy level requested.
Do crypto ETF options trade after hours? No. Listed options on crypto ETFs trade only during regular US exchange hours (9:30 AM to 4:00 PM Eastern) and do not trade during after-hours or pre-market sessions. This creates overnight and weekend gap risk because the underlying cryptocurrency trades continuously.
How does implied volatility affect my breakeven price? The breakeven price on a long call is the strike price plus the premium paid. Higher implied volatility means higher premiums, which pushes the breakeven further from the current price. A trader buying a call when implied volatility is 80% needs a significantly larger move in the underlying to break even compared to buying the same call when implied volatility is 50%.
Can I use crypto ETF options to hedge my actual Bitcoin holdings? Yes, but the hedge is imperfect. One IBIT option contract covers 100 shares of IBIT, which represents approximately 0.005 BTC per share (the ratio varies). A trader would need to calculate the number of contracts required to match their Bitcoin exposure and accept the tracking error between the ETF price and spot Bitcoin, particularly during periods of market stress when the two can diverge.
Disclaimer This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency investments carry significant risk, and you should conduct your own research before making any investment decisions. Information is accurate as of August 6, 2026.
EIP-8363 would cap Ethereum's staking ratio by burning issuance past 50% staked. Here's where the debate around this proposal stands today.
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The Ethereum community has found itself in the middle of a new issuance debate, this time centered on EIP-8363.
This Tapered Issuance Burn concept traces back to at least 2023, when Ethereum Foundation researchers first started publicly worrying about the ETH staking ratio having no ceiling. Bankless Summit even held talks on this in 2024!
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So why EIP-8363, why now?
If you consider Ethereum's issuance curve today, there's no ratio at which the incentive to stake stops. Yield falls as more ETH gets staked, sure, but Ethereum wizzes say this yield would only ever bottom out around 1.5%, no matter how close to 100% of the ETH supply gets locked up.
Right now, Ethereum's staking ratio is already past 33% of the ETH supply, and with no signs of slowing down. The idea is that if this ratio uptrend continues unabated, it poses two problems:
It could push a majority of ETH into the hands of a small number of companies and liquid staking providers, such that the Ethereum community's fork threat would be weakened in the hypothetical scenario of fighting back against a captured validator set. Past a certain staking threshold issuance serves as a de facto and permanent dilution tax on anyone who isn't staking, meaning at that point every ETH holder must face the choice of joining in or watching their share of the network shrink. This is where EIP-8363 would come in. If enacted, the mechanism would keep calculating validator rewards exactly as is done today, then burn a rising slice of them. The burn would grow as total stake grows, until it would fully cancel consensus rewards once staked ETH hits ~50% of the total ETH supply.
If ever that line gets crossed, EIP-8363 would make it so validators earn purely from transaction tips and MEV (i.e. the extra value block producers can earn by including, excluding, or reordering transactions) and not from new issuance until the stake ratio drops below 50% again.
Accordingly, under this paradigm there would still be incentives for validators, though less ETH would get minted along the way. Again, the big idea is that this model is ultimately aimed at reining in the staking ratio and ETH's dilution specter. Good intentions, yes. Yet more than a few critics have come forward in recent days, panning the proposal as ill-conceived.
The main "against" argument I've seen is that EIP-8363 threatens the vitality of DeFi. Staking yield has become ETH's reference rate, around which onchain lending, liquid staking tokens, and beyond get priced against. Aave founder Stani Kulechov has argued the proposal would make staking yield unpredictable for institutional buyers and could kill the case for borrowing ETH.
"Ethereum should not be punished for its growth," he wrote.
Unfortunately this proposal doesn't achieve the outcome it tries to achieve and is actually hurtful for Ethereum.
It caps Ethereum staking rewards to 0% when over 50% of supply staked.
What this mean is that Ethereum staking yield becomes unpredictable and even fully… https://t.co/IYUst52Dt3
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— Stani (@StaniKulechov) August 4, 2026 I've also seen skeptics contend that EIP-8363 would destroy the practicality of solo staking. Of course, the crux here is that a home staker's hardware and electricity bills don't shrink along with yield, so any downward move in net rewards eats into a smaller margin than it does for, say, a centralized exchange running 1,000s of validators.
Plus, as consensus issuance declines, MEV becomes a larger slice of what's left for validators to earn from. Critics have pointed out that this dynamic can catalyze a centralizing effect of its own, since MEV capture rewards scale and sophistication more than raw issuance does.
On the flip side, proponents of EIP-8363 maintain it would bolster the moneyness of ETH by protecting non-staked ETH from dilution while also giving it a bona fide supply ceiling, in turn honing ETH's case as "hard money" even further.
Stake targeting is good 👍
This increases the moniness of ETH and protects the value of vanilla ETH over staking derivatives.
ETH is more money https://t.co/eoS0KzhCT5
— David Hoffman (@TrustlessState) August 4, 2026 Proponents have also contested that solo stakers would be hit harder than large operators, arguing that since the burn scales with total stake, the point where adding more validators stops paying off arrives earliest for whoever already holds the most.
That point suggests home stakers would still have an incentive to grow all the way to the 50% ratio threshold, while the same wouldn't be true for large stakers. Under today's curve, by contrast, the design rewards growth no matter who you are or how much is already staked.
All that said, some of the best discourse I've seen on EIP-8363 so far came by way of the EF's DeFi specialist ivangbi, who threaded a reasonable middle position in a new (personal, not official EF) post out today. He suggested the model could theoretically work and DeFi could weather it, but only "if the fix and the arguments [were] more solid" and not based on "pseudo-economics." Worth the full read, I say.
Sooooo, the issuance reduction debate… 💠
My journey with this topic started with a “this is dumb” initial reaction back in 2023, and has evolved to “this CAN makes sense” recently. I am still against the proposal, but let me walk you through the thinking process. I think a lot… pic.twitter.com/vE2Eo7wV4o
— ivangbi 🦞 (@ivangbi_) August 6, 2026 From what I can tell, today is EIP-8363's cutoff for receiving PFI status (i.e. Proposed for Inclusion, Ethereum's lowest procedural bar, meaning "put this on the agenda for discussion") for the Hegotá upgrade. That said, nothing has been approved yet, and Hegotá itself isn't expected to be live on mainnet until next year.
If EIP-8363 does move forward, there will be a long runway either way, as its arrival would kick off an 18-month transition period. However, it's also possible that the proposal stalls after this week and the staking ratio keeps uptrending. Then we'll have to see if this same debate resurfaces down the road.
Whatever happens, the grand question is whether Ethereum is overpaying for security right now, and if so, is this fix worth the pain of finding out? Nobody's settled that yet, so keep this thread on your radar in the months ahead.
After a green July, the crypto market entered August against geopolitical and macroeconomic tension. Yet recent on-chain signals show smart money quietly positioning across the majors.
Large holders are adding Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) as prices sit near or below their realized prices, according to CryptoQuant. The firm reads the buying as a sign that the downturn is in its final stage.
Whale Accumulation Continues Across Major CryptocurrenciesGlobal markets have pulled ahead while Bitcoin stalled. Equities set fresh records into early August, but Bitcoin held near $64,700, up just 1.5% from a week earlier.
Bitcoin (BTC) Price Performance. Source: BeInCrypto MarketsBeneath that flat price, the largest wallets kept buying. Bitcoin whale balances, excluding exchanges and mining pools, climbed to about 3.06 million BTC.
However, it still sits below the 2025 bull-market peak of roughly 3.23 million, leaving room for more accumulation.
Ethereum tells a sharper version of the same story. Wallets holding more than 100,000 ETH added about 1.8 million ETH since mid-2025, a rise of nearly 70%. Meanwhile, the 1,000-to-10,000 ETH cohort cut its holdings to 12.9 million from 15.6 million in January.
In XRP, order sizes remained in “big whale” territory while the token held its range near $1, suggesting absorption rather than aggressive buying. BeInCrypto also highlighted that XRP inflows to Binance have fallen to a record low.
Taken together, the on-chain data suggests whales are treating the current period as an accumulation opportunity. Beyond large-holder buying, adoption indicators are also improving.
Holder counts across major cryptocurrencies have climbed, reinforcing the view that network participation is expanding even as market sentiment remains cautious.
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🪜 Holder counts keep climbing. Over the past two weeks, Ethereum has crossed 200M non-empty wallets for the first time ever, XRP Ledger and USDC (on Ethereum) crossed 8M, and Chainlink… pic.twitter.com/12EAOpGCXx
— Santiment Intelligence (@SantimentData) July 28, 2026 CryptoQuant also noted that valuations are approaching historically undervalued levels. Bitcoin and XRP remain close to their realized prices of $52,900 and roughly $0.75, respectively.
Ethereum appears even more discounted, trading well below its realized price of about $2,450. According to the firm, such conditions suggest “late-bear-market zones.” Other signals also indicate the bear market may be approaching its final phase.
📊 The supply in profit is still hovering around 50%, standing at exactly 52% today.
This means that nearly half of all BTC are currently being held at a loss.
👉 This is a key pivot level that, during every bear market, eventually shifts to the side where more coins are held… pic.twitter.com/rugwJwQJyf
— Darkfost (@Darkfost_Coc) August 5, 2026 Why the Crypto Market Bottom Is Not Yet ConfirmedWhile accumulation lowers downside pressure, it does not confirm a floor. CryptoQuant stressed that prices could still fall further before the market turns.
“Risk-reward has improved markedly, but is not fully de-risked. Downside pressure is lower as large holders accumulate, signaling the last stage of the bear market — yet from a pure valuation standpoint, some further downside remains possible before a confirmed floor,” the report read.
Analysts elsewhere echo the mixed picture. Glassnode has described the bottom conditions as “assembling but incomplete.”
“Bottom signals assembling through boredom, not capitulation; still short of every prior bear’s floor,” the firm wrote.
For now, whales are buying weakness the market has yet to reward.
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Grayscale Investments, with under $45 billion in total Assets Under Management (AUM) has reshuffled one of its biggest crypto investment funds, and BNB has come out on top. The asset manager has made BNB the largest holding in its Smart Contract Fund, pushing both Ethereum and Solana below it.
Meanwhile, Binance native token BNB has seen a jump of 1% while other large cap coin recored a drop.
BNB Becomes Grayscale’s Largest Smart Contract HoldingGrayscale Investments announced the changes after its second-quarter portfolio review. The biggest update came in its Grayscale Smart Contract Fund (GSC Fund), where BNB entered the portfolio with a 30.6% allocation, making it the fund’s largest holding.
After the rebalance, the fund now holds at;
BNB: 30.6%Ether (ETH): 29.47%Solana (SOL): 29.15%Cardano (ADA): 4.88%Hedera (HBAR): 2.08%Avalanche (AVAX): 1.92%Sui (SUI): 1.90%To have more fund for BNB, Grayscale reduced its exposure to existing holdings, with Cardano seeing one of the biggest cuts.
BNB Overtakes Ether and Solana in Grayscale Smart Contract Fund
Grayscale added BNB to its Smart Contract Fund during its second-quarter rebalancing, giving the token a 30.6% weighting, ahead of Ether at 29.47% and Solana at 29.15%. Its DeFi Fund reduced UNI exposure, although… pic.twitter.com/vsbtuO51mF
— Wu Blockchain (@WuBlockchain) August 6, 2026 Why Did Grayscale Increase BNB?The recent portfolio shift shows how institutional interest is changing across Layer-1 blockchains.
BNB Chain has expanded rapidly over the past few months through tokenized assets, decentralized finance (DeFi), and enterprise blockchain activity. The network has also continued attracting developers and users, making it a stronger competitor to Ethereum and Solana.
Market data also showed BNB Chain recently recorded more than $80 million in tokenized ETF related growth, helping strengthen its position among institutional investors.
Instead of increasing the overall size of the fund, Grayscale sold portions of its existing holdings and used those proceeds to add BNB.
Grayscale Also Rebalanced Its Other Crypto FundsThe asset manager also updated two other investment products. In its Grayscale DeFi Fund, Uniswap remained the biggest holding despite a reduction in exposure. The updated allocation includes:
Uniswap (UNI): 34.16%Ondo (ONDO): 25.44%Aave (AAVE): 19.97%Ethena (ENA): 12.19%Curve (CRV): 4.42%Lido DAO (LDO): 3.82%Meanwhile, the Decentralized AI Fund reduced its exposure to NEAR Protocol, although it still remained the largest holding with 31.35%, followed by Bittensor, Render, and Filecoin.
By making BNB its largest Smart Contract Fund holding, Grayscale is signaling that institutional investors now see the Binance ecosystem as one of the strongest blockchain platforms alongside Ethereum and Solana.
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Forge, the analytics platform built on Allora Network, has rolled out 15-minute realized volatility forecasting for four of the most heavily traded crypto pairs: BTC/USD, ETH/USD, SOL/USD, and XRP/USD.
What 15-minute realized volatility actually means The actual metric, realized volatility, measures the magnitude of price fluctuations over a specific historical window, expressed as a statistical value. It tells you how jumpy an asset has actually been, not how jumpy people expect it to be (that would be implied volatility). By compressing that measurement into 15-minute intervals, Forge is giving traders a near-real-time pulse on price action intensity.
Most volatility tools in crypto operate on daily or hourly timeframes. A 15-minute window is the kind of resolution that options market makers, algorithmic trading desks, and high-frequency strategies depend on.
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The four pairs Forge chose are not accidental. Bitcoin and Ethereum are the two largest digital assets by market capitalization. Solana has become a hub for DeFi and memecoin activity, generating enormous intraday volume. XRP remains one of the most actively traded assets globally, particularly on Asian exchanges.
Why Forge’s positioning on Allora matters Forge operates on Allora Network, a decentralized AI inference platform. Rather than relying on a single proprietary model running on centralized infrastructure, Allora’s architecture aggregates predictions from a network of competing models. The best-performing models get rewarded, creating an economic incentive for accuracy.
Multiple AI models submit their volatility forecasts, and the network synthesizes them using a mechanism designed to surface the most reliable signal. For Forge specifically, adding these volatility topics expands the platform beyond simple price prediction into risk analytics.
What this means for traders and the broader market For individual traders, especially those running intraday strategies, 15-minute volatility data can serve as a filter. High volatility windows might signal opportunity for momentum traders, while the same signal would tell mean-reversion traders to sit on their hands.
For institutional players and algorithmic desks, realized volatility at high frequency is a critical input for options pricing, delta hedging, and risk management models. As crypto derivatives markets continue to mature, with products on exchanges like Deribit, CME, and various DeFi protocols growing in sophistication, the demand for precise volatility inputs only increases.
The choice to launch with four assets rather than dozens also suggests a quality-over-quantity approach. Bitcoin’s volatility profile behaves differently than Solana’s, which trades with significantly higher beta and thinner order books during off-hours.
One risk to keep in mind: volatility forecasting models, no matter how sophisticated, struggle during true black swan events. The 15-minute window captures normal market dynamics well, but flash crashes, exchange outages, or sudden regulatory announcements can render any model temporarily useless.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Analyst Ayman ‘AI Man’ Mufleh has called attention to a recent report from the Financial Action Task Force (FATF) that lists Hedera, Ethereum, and Solana as examples of distributed ledger infrastructure underpinning decentralized finance (DeFi) settlements. Mufleh highlighted the document’s reference to these blockchains in a YouTube video, interpreting the mention as significant for Hedera’s visibility in regulatory discussions.
Regulatory context and technical discussionThe FATF report, titled Regulatory Challenges of DeFi and dated July 2026 in the video, examines the architecture of decentralized finance systems. In a section analyzing the settlement layer of DeFi protocols, the report uses Hedera, Ethereum, and Solana to illustrate the types of blockchains that can record transactions, secure the network, and provide consensus mechanisms for higher-level applications.
However, the FATF does not single out these networks for endorsement or institutional use. The report describes them as examples of foundational distributed ledger technology, focusing on regulatory definitions rather than recommending individual platforms for global financial settlement.
The FATF report considers “foundational distributed ledger infrastructure” important at the settlement layer, citing Hedera, Ethereum, and Solana as prominent examples for recording transactions and providing consensus in DeFi applications.
The document further states that FATF standards typically do not apply to payment infrastructure such as these blockchains, unless an entity operating at that level also delivers services defined as within scope of a virtual asset service provider (VASP).
This regulatory distinction indicates that FATF’s reference pertains to technical layers of DeFi, rather than suggesting approval or outright selection of Hedera or its token, HBAR, for official purposes.
Mini dictionary: FATF (Financial Action Task Force) is an intergovernmental organization that develops policies to combat money laundering, terrorist financing, and threats to the international financial system. Its recommendations help shape national regulations on cryptocurrencies and virtual assets.
HBAR and DeFi asset layerThe same report also discusses the asset layer of DeFi, grouping native tokens such as HBAR, ETH, and SOL together as part of the infrastructure supporting network operations and security. Stablecoins and other digital assets used in DeFi protocols are also mentioned within this framework.
Mufleh argues that being named in this context signifies growing recognition of Hedera by global policymakers. Nevertheless, the report language is broad and does not confirm special status for Hedera or its associated token.
FATF, headquartered in Paris, exerts significant influence over global financial regulatory standards, with its crypto-related guidance shaping the rules that countries use to tackle financial crime in the digital asset sector.
Market background and prospective catalystsAt the time Mufleh released his video, HBAR was trading between $0.06 and $0.07, having declined substantially from earlier peaks of around $0.25. He referenced potential drivers for HBAR in the future, such as possible involvement in Depository Trust and Clearing Corporation (DTCC) initiatives, integration with SWIFT, central bank digital currencies (CBDC), decentralized applications, prospective HBAR exchange-traded funds, and new US crypto legislation.
None of these projections are confirmed by the FATF report but are mentioned as possible developments that could affect HBAR’s standing in the coming months.
References to Hedera in the FATF study do not constitute regulatory approval or guarantee demand for HBAR; rather, these networks are grouped as technical options for facilitating DeFi activity.
NetworkDeFi RoleTokenPrice at Video DateHighest Price ReachedHederaSettlement layerHBAR$0.06–$0.07~$0.25EthereumSettlement layerETHN/AN/ASolanaSettlement layerSOLN/AN/ADisclaimer: 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.
On-chain data analysis platform CryptoQuant has reported that investors known as “whales,” who hold large amounts of assets in Bitcoin (BTC), Ethereum (ETH), and XRP, have recently increased their holdings. According to the company, this trend indicates that the cryptocurrency market may be approaching the final stage of its long-running bear cycle.
According to an analysis shared by CryptoQuant, it has been noted that historically, a significant indicator is when large investors buy rather than sell during periods of continued price decline. Similar movements have been observed in past market cycles when long-term investors believed prices had reached attractive levels.
However, the analytics firm emphasized that the current data alone is not sufficient to confirm the market bottom. According to CryptoQuant, while whales buying is considered a positive signal, Bitcoin, Ethereum, and XRP prices may fall further before a bottom formation is finalized. Therefore, investors should be cautious about short-term fluctuations.
Experts note that the accumulation process of whales is often part of a long-term investment strategy. Large investors prefer to buy at low prices during periods when fear dominates the markets, while individual investors often act more cautiously due to uncertainty. This is a common characteristic observed many times in the final stages of market cycles in the past.
CryptoQuant noted that while there are signs that the bear market may be approaching its final phase, macroeconomic developments and global liquidity conditions will continue to be decisive factors in price movements. In particular, central bank monetary policies, regulatory developments, and the attitude of institutional investors towards the market are among the main factors influencing the direction of crypto assets.
*This is not investment advice.
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While volatility continues to dominate the crypto market, the largest investors follow a contrary path. According to the latest “Smart Money” report from CryptoQuant, the most influential wallets are massively accumulating bitcoin, Ethereum, and XRP, despite a climate marked by uncertainty. This buying strategy comes at a time when several valuation indicators return to levels historically associated with the ends of bear markets. Behind these movements lies a deep trend: an increasing concentration of assets in the hands of institutional investors.
In Brief Whales have accumulated nearly 190,000 additional BTC since December 2025, bringing their reserves to 3.06 million Bitcoin. Giant wallets (10,000 to 100,000 ETH) reach an all-time high of 19.6 million Ether. Big players accumulate the token without rushing the prices, maintaining dominant spot activity. According to CryptoQuant, this liquidity absorption during a downturn is the classic marker of savvy investors. The explosion of whale reserves on bitcoin and Ethereum While a whale just moved 1 billion in bitcoins, the analysis report reveals a massive transfer of liquidity towards very large-cap wallets. CryptoQuant data confirms that large holders systematically take advantage of prolonged downturn phases to increase their exposure, to the detriment of the market’s most vulnerable investors.
This discreet buying phenomenon has accelerated dramatically over recent months on the two main protocols of the ecosystem. The concentration of tokens in the hands of high-capital entities now reaches record levels, as evidenced by precise on-chain metrics :
Bitcoin (BTC) : whale reserves rose from 2.87 million BTC in December 2025 to about 3.06 million BTC, with a marked acceleration after falling below 60,000 dollars in June ; Ethereum (ETH) mid-tier : wallets holding between 10,000 and 100,000 ETH reached an all-time combined high of 19.6 million ETH ; Ethereum (ETH) giant wallets : addresses holding over 100,000 ETH absorbed nearly 1.8 million additional ETH since mid-2025. This frenzy of accumulation observed on the sector’s two giants profoundly changes the ownership structure of circulating tokens. By removing a considerable amount of assets from the liquid market during price downturns, major players mechanically reduce the immediately available supply. CryptoQuant sums up this strategy with an unequivocal theoretical conclusion: “increase in whale balances during price weakness is the clearest indicator of savvy investors”. Thus, this absorption capacity during price contraction episodes demonstrates experienced investors’ willingness to build major positions in anticipation of the next cycle.
The gap in realized prices and passive absorption on the XRP crypto Beyond the increase in wallet balances, the analysis of the realized price, the estimation of the average on-chain break-even price for all coins, provides essential insight into the fundamental value of assets. Current data show divergent configurations: bitcoin trades at 63,935 dollars against an estimated realized price of 52,900 dollars, while Ether trades in an undervaluation zone at 1,858 dollars compared to a realized price of about 2,450 dollars. XRP stands at around 1.10 dollars, trading within a range between 1 and 1.20 dollars, for an estimated realized price of about 0.75 dollars.
On the Ripple crypto market, the average size of spot orders remains firmly in the category of large whales defined by CryptoQuant. However, the metric of the cumulative taker volume delta over 90 days remains neutral. This fundamental technical detail reflects a dynamic of passive absorption of sell orders by big players, rather than aggressive impulse buys at market price. Such behavior confirms that savvy investors methodically accumulate liquidity sold by the impatient without prematurely pushing prices up.
Market floor and seller capitulation signals This accumulation phase aligns with other research works identifying end-of-bear-cycle indicators. The company 10x Research notes in this regard that bitcoin could validate confirmation of a bear market bottom by managing to close monthly above the key level of 63,000 dollars.
For its part, firm K33 indicated in a report published on July 7 that the main crypto historically reaches the lowest point of its cycle in the weeks following the moment when more than half of its circulating supply is held at a loss.
Nevertheless, a rigorous analysis requires tempering these promising prospects. Although this pattern of accumulation by whales has historically preceded market bottoms, CryptoQuant explicitly reminds that the market remains exposed to further downside risks in the short term. Final confirmation of a bottom will depend on the market’s ability to transform this passive absorption into a sustainable buying impulse.
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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.
DeepSeek, Tencent and others receive strategic placement from Unitree Robotics.
Unitree Technology has disclosed its strategic placement list. Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd. (DeepSeek) and Shanghai Qishan Investment Co., Ltd., a Tencent subsidiary, were selected as "large enterprises or their affiliates that have strategic cooperation relationships or long-term cooperation prospects with the issuer's business". The batch of strategic placement investors also includes China National Petroleum Corporation Kunlun Capital Co., Ltd., China Southern Power Grid Industrial and Financial Holding Group Co., Ltd., and other companies.
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More than 4 billion shares of SpaceX may enter circulation within the year, posing potential selling pressure on its stock price in the short term.
SpaceX faces lock-up expirations for up to 911.5 million shares today, equivalent to over 140% of its current public float, which could heighten short-term stock price volatility. Following the company’s prior earnings release, its stock dropped 12% despite revenue exceeding forecasts and its AI business unexpectedly posting a profit. Additional share unlocks are scheduled for August 12 and 20 days later. By the end of this year, more than 4 billion shares are projected to become tradable, potentially exerting sustained selling pressure on the stock, though market focus remains on the company’s long-term fundamentals.
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Serenity: Unitree Robotics' IPO May Boost Robotics Sector Valuation, Supply Chain Firms Like Leader Harmonic Drive to Benefit
Serenity noted in a report that Unitree Robotics’ implied market cap in the derivatives market stands at roughly $29.3 billion. Citing the performance of pre-IPO perpetual contracts for Cerebras and SpaceX, Serenity added that their related prices were relatively close to the respective listing opening prices. Based on Unitree’s projected IPO target valuation of $5.7 billion to $6.2 billion this month, the current derivatives implied valuation is about 370% to 414% higher, equivalent to 4.7 to 5.1 times the target. If Unitree can maintain this valuation post-listing, it could drive growth in the robotics sector. It cited robotics supply chain firms including Leaderdrive (Green Harmonic), Harmonic Drive, and Ouster, noting that industry leaders typically boost valuations of other peers in the same sector after listing, while stressing this does not constitute investment advice. Unitree is expected to proceed with its listing later this month, with the subscription period likely on August 10, and final issuance results to be announced on August 14. Agility Robotics may advance its related plans in the fourth quarter.
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Walsh adheres to prudent market guidance, and will consider a September interest rate hike if inflation remains strong.
According to a report by the Financial Times, even after his decision to withhold too many details about interest rate strategy triggered a sharp sell-off in U.S. Treasuries, Federal Reserve Chair Walsh has stuck to his usual concise communication style. People close to Walsh say he has acknowledged making some mistakes in his first 10 weeks leading the world’s most important central bank, including failing to reinforce his core message on price stability and sowing confusion over whether his long-term plans to overhaul the Fed would impact near-term policy decisions. However, they insist these mistakes are not enough to derail Walsh’s reform agenda for the Federal Reserve. Insiders also revealed that if inflation data released in the coming weeks comes in strong and market expectations for higher borrowing costs rise accordingly, Walsh is prepared to raise interest rates at the September policy meeting. Insiders added that while the Fed chair has raised the possibility of shrinking the central bank’s $6.7 trillion balance sheet to tighten monetary policy, interest rates remain the primary tool for now, and will be used at upcoming meetings if needed.
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Trader gains $956K on $CASHCAT after $791K investment, another spent $519 ETH for 9.96M $CASHCAT
The trader who previously spent $791K to buy 13.14M $CASHCAT($1.75M now) is now up $956K. Another trader also spent $519 $ETH($985K) to buy 9.96M $CASHCAT 12 hours ago.
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Pre-market US stocks in the storage, optical communications, and semiconductor sectors are all down, with Western Digital falling over 16% and SanDisk dropping more than 11%.
According to market data from BIT (bit.com), U.S. stocks were in pre-market trading on Thursday, with storage stocks, optical communications, and semiconductor stocks all declining. The storage sector led losses: Western Digital (WDC) fell 16.06%, SanDisk (SNDK) dropped 11.09%, SK Hynix (SKHY) decreased 7.01%, Micron Technology fell 5.79%, and Seagate Technology (STX) declined 5.57%. Most semiconductor stocks trended lower: Marvell Technology (MRVL) fell 2.14%, Intel (INTC) dropped 1.89%, and Arm (ARM) decreased 1.85%. All optical communication concept stocks saw declines: Applied Optoelectronics (AAOI) fell 1.66%, Credo (CRDO) dropped 1.45%, and Astera Labs (ALAB) decreased 1.37%.
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Two Wallets, One Clear SignalOn-chain data from Lookonchain shows that an OTC whale, identified by wallet address 0x8c58, purchased another 10,000 $ETH worth approximately $19.1 million. The move follows an earlier transaction by the same wallet: the address acquired 27,000 ETH through an over-the-counter transaction facilitated by Galaxy Digital, valued at around $52 million, roughly two weeks prior. OTC desks are commonly used by large investors to buy or sell substantial amounts of cryptocurrency without causing significant price slippage on public exchanges.
A second whale, wallet 0x2684, added 3,960 $ETH on Aug. 5. That purchase is part of a broader accumulation run: the same address has now gathered more than 79,000 ETH since late June, a pattern consistent with other large holders quietly building positions away from the public order books.
A Broader Pattern of AccumulationThe activity from these two wallets is not happening in isolation. According to Lookonchain, the earlier 27,000 ETH purchase through Galaxy Digital OTC followed three months of wallet inactivity, marking a notable return to the market. Separate on-chain data shows the trend extends well beyond a single buyer. Santiment reports wallets holding at least 100,000 ETH now control 22.03% of supply, a nine-week high, as whales accumulated while ETH dipped below $2,000.
Other notable buyers have also been active in recent weeks. One whale withdrew 112,000 ETH, worth roughly $208 million, from exchanges over three weeks, with every batch going straight into staking. Staking on this scale pulls tokens out of active circulation, a move traders often read as a sign of long-term holding rather than short-term trading.
For now, the data points in one direction: large holders are continuing to accumulate $ETH at current prices, using OTC channels and staking contracts to build positions with minimal market disruption. Whether that conviction translates into a sustained price move remains to be seen.
Sources:
BitcoinWorld: Dormant Whale Resurfaces, Acquires $52 Million in Ethereum via OTC Trade
AMBCrypto: Ethereum Whales Add $58M in ETH
CryptoRank: Ethereum Whales Accumulate, Wallets Holding Over 100K ETH Now Control 22% of Supply
DeepSeek, Tencent and others receive strategic placement from Unitree Robotics.
Unitree Technology has disclosed its strategic placement list. Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd. (DeepSeek) and Shanghai Qishan Investment Co., Ltd., a Tencent subsidiary, were selected as "large enterprises or their affiliates that have strategic cooperation relationships or long-term cooperation prospects with the issuer's business". The batch of strategic placement investors also includes China National Petroleum Corporation Kunlun Capital Co., Ltd., China Southern Power Grid Industrial and Financial Holding Group Co., Ltd., and other companies.
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More than 4 billion shares of SpaceX may enter circulation within the year, posing potential selling pressure on its stock price in the short term.
SpaceX faces lock-up expirations for up to 911.5 million shares today, equivalent to over 140% of its current public float, which could heighten short-term stock price volatility. Following the company’s prior earnings release, its stock dropped 12% despite revenue exceeding forecasts and its AI business unexpectedly posting a profit. Additional share unlocks are scheduled for August 12 and 20 days later. By the end of this year, more than 4 billion shares are projected to become tradable, potentially exerting sustained selling pressure on the stock, though market focus remains on the company’s long-term fundamentals.
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Serenity: Unitree Robotics' IPO May Boost Robotics Sector Valuation, Supply Chain Firms Like Leader Harmonic Drive to Benefit
Serenity noted in a report that Unitree Robotics’ implied market cap in the derivatives market stands at roughly $29.3 billion. Citing the performance of pre-IPO perpetual contracts for Cerebras and SpaceX, Serenity added that their related prices were relatively close to the respective listing opening prices. Based on Unitree’s projected IPO target valuation of $5.7 billion to $6.2 billion this month, the current derivatives implied valuation is about 370% to 414% higher, equivalent to 4.7 to 5.1 times the target. If Unitree can maintain this valuation post-listing, it could drive growth in the robotics sector. It cited robotics supply chain firms including Leaderdrive (Green Harmonic), Harmonic Drive, and Ouster, noting that industry leaders typically boost valuations of other peers in the same sector after listing, while stressing this does not constitute investment advice. Unitree is expected to proceed with its listing later this month, with the subscription period likely on August 10, and final issuance results to be announced on August 14. Agility Robotics may advance its related plans in the fourth quarter.
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Walsh adheres to prudent market guidance, and will consider a September interest rate hike if inflation remains strong.
According to a report by the Financial Times, even after his decision to withhold too many details about interest rate strategy triggered a sharp sell-off in U.S. Treasuries, Federal Reserve Chair Walsh has stuck to his usual concise communication style. People close to Walsh say he has acknowledged making some mistakes in his first 10 weeks leading the world’s most important central bank, including failing to reinforce his core message on price stability and sowing confusion over whether his long-term plans to overhaul the Fed would impact near-term policy decisions. However, they insist these mistakes are not enough to derail Walsh’s reform agenda for the Federal Reserve. Insiders also revealed that if inflation data released in the coming weeks comes in strong and market expectations for higher borrowing costs rise accordingly, Walsh is prepared to raise interest rates at the September policy meeting. Insiders added that while the Fed chair has raised the possibility of shrinking the central bank’s $6.7 trillion balance sheet to tighten monetary policy, interest rates remain the primary tool for now, and will be used at upcoming meetings if needed.
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Trader gains $956K on $CASHCAT after $791K investment, another spent $519 ETH for 9.96M $CASHCAT
The trader who previously spent $791K to buy 13.14M $CASHCAT($1.75M now) is now up $956K. Another trader also spent $519 $ETH($985K) to buy 9.96M $CASHCAT 12 hours ago.
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Pre-market US stocks in the storage, optical communications, and semiconductor sectors are all down, with Western Digital falling over 16% and SanDisk dropping more than 11%.
According to market data from BIT (bit.com), U.S. stocks were in pre-market trading on Thursday, with storage stocks, optical communications, and semiconductor stocks all declining. The storage sector led losses: Western Digital (WDC) fell 16.06%, SanDisk (SNDK) dropped 11.09%, SK Hynix (SKHY) decreased 7.01%, Micron Technology fell 5.79%, and Seagate Technology (STX) declined 5.57%. Most semiconductor stocks trended lower: Marvell Technology (MRVL) fell 2.14%, Intel (INTC) dropped 1.89%, and Arm (ARM) decreased 1.85%. All optical communication concept stocks saw declines: Applied Optoelectronics (AAOI) fell 1.66%, Credo (CRDO) dropped 1.45%, and Astera Labs (ALAB) decreased 1.37%.
On August 4, six Ethereum (@ethereum) researchers and developers formally submitted a draft Ethereum Improvement Proposal that could fundamentally reshape how staking rewards work on the network. The proposal, EIP-8361, titled Tapered Issuance Burn, was published by six researchers including Ethereum Foundation contributor Justin Drake. The draft was submitted days before an August 6 deadline for pull requests proposing EIPs for the Hegotá upgrade, though that date governs submissions, not final inclusion decisions.
How the Burn Mechanism Would Work The proposal would introduce a tapered issuance burn, deducting and permanently destroying a portion of validators' idealized rewards that scales with the network's overall staking ratio. The burn happens every epoch, roughly every 6.4 minutes. Crucially, only newly created rewards are affected. Validators would still be paid the same way for doing the same work and keep all transaction fees and tips they earn from building blocks. Only the newly created ETH gets burned.
The mechanism would bring net issuance to zero when staking reaches around 60.25 million ETH, equivalent to roughly half of the total supply. At the current staking level of roughly 33%, it would reduce annual yield from about 2.6% to approximately 1.2%. To soften the adjustment, the draft proposes an 18-month transition period to limit abrupt changes in validator yields.
The proposal extends a concept Ethereum already uses. The protocol currently creates new ETH to pay validators for securing the network, while EIP-1559 destroys a portion of base fees collected on every transaction. EIP-8361 applies similar burn logic directly to staking issuance.
Who Is Most Affected, and Why Researchers Want the Change The authors argue that Ethereum's current model keeps offering positive staking yields regardless of how much ETH is already staked, creating a persistent incentive for more capital to flow into staking. At 41.41 million ETH staked as of August 4, 2026, representing 33.98% of the total circulating supply, Ethereum's staking participation has already broken its own all-time high. The researchers believe unchecked growth risks greater concentration among large operators, more influence for exchanges and custodians, and ongoing dilution for ETH holders who do not stake.
The impact would not fall equally across participants. Analysis applying the proposal's own formula to Lido shows growth keeps paying the liquid staking provider until about 49 million ETH is staked, nearly 8 million more than today. Solo validators face a more immediate challenge: because downtime penalties remain unchanged while rewards shrink, recovering from temporary outages would take significantly longer than it does today.
The proposal does not touch Maximal Extractable Value (MEV), the additional income validators earn by ordering transactions inside blocks. That revenue stream would remain unchanged.
Critics of the proposal say the plan could negatively impact solo stakers, liquid staking tokens, DeFi yields, and Ethereum's long-term security. With just around 300 lines of implementation and no consensus among validators and stakers, analysts consider it more likely that the proposal will be pushed back to a later fork. For now, EIP-8361 marks the beginning of what is likely to be one of Ethereum's most significant monetary policy debates since EIP-1559.
Sources:
The Block: Ethereum researchers propose burning validator rewards to cap staking at 50%
CoinDesk: New Ethereum proposal would cut issuance to zero if staked ETH reaches $112 billion
BeInCrypto: A New Ethereum Proposal Could Halve Staking Rewards: Who Feels It First?
Ethereum Price Prediction: ETH Is Boxed In at $1,91 With No Conviction From Either Side presales
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Ahmed Barakat
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Ahmed Barakat
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Ahmed Barakat is a journalist and copywriter based in Georgia with a growing focus on blockchain technology, DeFi, AI, privacy, digital assets, and fintech innovation.
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49 minutes ago
In the latest Ethereum price prediction, ETH is trading at $1,912, down 0.41% over the past 24 hours, holding within a tight intraday range of $1,895.10 to $1,917.74. The consolidation is real, but what happens next depends almost entirely on catalysts ETH does not control yet.
Price action has been characteristically choppy, with muted 24-hour volatility alongside a modest weekly recovery. Trading volume clocked in around $8.7 billion, respectable but not the kind of number that signals conviction from either bulls or bears.
ETH remains range-bound, with directional bias dependent on incoming macro data and any regulatory signals touching major smart-contract platforms.
ETH’s underperformance relative to select altcoins, particularly in AI, restaking, and L2 narratives, has rotation-watchers paying close attention. The broader setup will define whether the recent weekly rebound has legs or fades back into the prior consolidation zone.
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Ethereum Price Prediction: Can Ethereum Break $1,950 Resistance and Sustain a Breakout This Week?ETH is trading at $1,912, pressing into the upper half of its recent range but has yet to clear the resistance cluster that matters. The $1,950 to $1,970 zone is the next meaningful ceiling, roughly aligned with prior distribution levels where sellers have consistently emerged. Below, $1,880 to $1,895 is the immediate support shelf.
The current intraday low at $1,895.10 is already brushing that band.
Volume context matters here. An $8.7 billion daily print is not weak, but it is not the kind of expansion that typically precedes a clean breakout either. Spot demand appears balanced against profit-taking from the weekly recovery, keeping momentum neutral.
Source: ETHUSD / TradingviewETH holding $1,895 support, macro data printing risk-on, and expanding volume push price through $1,950 toward the $2,000 to $2,050 psychological zone.
Consolidation continues within the $1,880 to $1,950 channel, with no decisive breakout or breakdown until a macro or regulatory catalyst forces direction; this is the base case. A close below $1,860 invites a retest of mid $1,700s structural support, the range ETH was parked in just days ago, and resets the short-term technical picture.
Regulatory treatment of smart-contract platforms remains the wildcard. Any clarity or ambiguity from US regulators on ETH’s classification could trigger institutional flows in either direction. Key supply dynamics suggest ETH needs sustained buying pressure, not just a relief bounce, to confirm a structural shift.
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Maxi Doge Targets Early Mover Upside as Ethereum Tests Key LevelsETH at $1,909 is a recovery — but at this market cap, the asymmetric upside traders dream about simply isn’t on the table. That’s the tradeoff when positioning in large-cap assets during consolidation phases: stability, yes; 10x potential, no. For traders whose risk appetite runs hotter, the presale market is where that math still exists.
Maxi Doge ($MAXI) is a meme token on Ethereum (ERC-20) built around what it calls the “Leverage King” culture, a 240-lb canine mascot embodying 1000x trading mentality, complete with holder-only trading competitions, leaderboard rewards, and a Maxi Fund treasury earmarked for liquidity and partnerships.
The tagline is blunt: Never skip leg day, never skip a pump. Current presale price sits at $0.0002832, with $4,836,932.30 raised to date, a number that signals genuine community traction rather than a ghost project.
Dynamic staking APY is live for participants. As with any presale, execution risk is real, meme tokens live and die by community momentum, and there are no guarantees of exchange listings or sustained volume post-launch.
For traders already watching ETH’s consolidation play out, research Maxi Doge as a speculative complement rather than a replacement for your core book.
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Glimpse, a renowned Bitcoin-native forecasting platform, is expanding its portfolio. In this respect, Glimpse is adding forecasting services for Gold, Solana, and Ethereum. As per Glimpse’s official press release, the expansion is a noteworthy milestone in its growth trajectory, offering new opportunities to consumers. Hence, the move enables forecasts across diverse assets, elevating Glimpse’s position within the world of financial forecasting.
Glimpse Includes Gold, Ethereum, and Solana in Forecasting Portfolio to Expand $BTC-Native Rewards The expansion of Glimpse’s forecasting portfolio with Gold, Solana, and Ethereum highlights a significant user interest in the company’s cutting-edge approach to a broader range of assets traded worldwide. Unlike conventional trading entities, Glimpse is not dependent on a simple buy-and-sell mechanism. Rather, it permits participants to make forecasts regarding an asset within a price range.
Consumers making precise forecasts obtain rewards in Bitcoin ($BTC). This establishes a new incentive-led way to interact with diverse financial markets. The respective framework guarantees that traders get potential benefits during volatile market periods but also when markets are not bullish. Particularly, Gold, Solana, and Ethereum’s inclusion denotes Glimpse’s focus on platform diversification while also maintaining a $BTC-native foundation.
The Glimpse Co-founders, Ruban Sundara Raj and James Pierog, also expressed enthusiasm while reflecting on this expansion. They said, “Whether you think Ethereum is undervalued, Gold is about to rally or Bitcoin is entering a range, Glimpse lets you put that view to the test.” Moreover, they added, “Every forecast also contributes to a live picture of where the market collectively expects these assets to go, giving traders valuable insight alongside the opportunity to earn Bitcoin.”
Redefining Financial Forecasting with Unique Trader Opportunities One of the notable benefits of this expansion for traders takes into account earnings in Bitcoin ($BTC). Additionally, the other advantages include opportunities even during sideways markets, rapid network transactions, access to collective expectations, and the chance to test their market conviction in comparison with other traders.
At the same time, Glimpse is currently progressing through the in-principle authorization process of the Bermuda Monetary Authority. According to Glimpse, the inclusion of Gold, Ethereum, and Solana assists it in developing a home for comprehensive financial forecasting for Bitcoin ($BTC).
Along with that, the move also lets it gradually move toward the goal of offering a leading forecasting entity for worldwide financial markets and digital assets. Overall, the latest expansion emerges as a key step in the firm’s mission to revolutionize financial forecasting, establishing a dynamic hub that gives opportunity for conviction and rewards for accurate foresight.
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The cryptocurrency market is somewhat lethargic on Thursday, with Bitcoin (BTC) approaching $65,000, Ethereum (ETH) holding above $1,900 while Ripple (XRP) trades under pressure around $1.05. This mixed outlook comes ahead of a potential deal between Iran and Oman on the management of shipping through the Strait of Hormuz. Still, Iran has denied negotiations with the United States (US).
Iran and Oman eye Strait of Hormuz dealIran and Oman are reportedly nearing the finalization of a strategic framework for commercial shipping through the Strait of Hormuz. Despite progress, Iranian Deputy Foreign Minister Kazem Gharibabadi emphasized to Islamic Republic News Agency (IRNA) that any agreement would not necessarily guarantee the immediate reopening of the waterway.
A senior Gulf official assesses the probability of a deal being reached by Friday at 50%.
US Vice President JD Vance stated in a Fox News interview that negotiations with Iran are likely to be “messy”, citing significant challenges posed by Iran’s fractured political system and negotiating stance.
Moreover, Iran has continued to deny negotiations with the US despite President Donald Trump's optimism on Tuesday that a deal could be announced this week.
Despite Bitcoin and Ethereum sustaining a slightly short-term bullish outlook, crypto market sentiment is back in Extreme Fear territory at 25 on Thursday, down from 27 the day before. This broadly means that appetite for risk assets remains on the back foot as investors assess the direction the US and Iran are likely to take if negotiations fail.
Crypto Fear & Greed Index | Source: Alternative"Investors remain focused on several key variables, including the Federal Reserve's monetary policy outlook, global liquidity conditions, the performance of the US Dollar (USD), and developments in the international geopolitical landscape,” Simon-Peter Massabni, Business Development head at XS.com, said in a comment.
Bitcoin builds on reclaimed supportBitcoin holds a modest bullish bias as it trades above the short-term 50-day Exponential Moving Average (EMA) at $64,673 and above the reclaimed downtrend resistance trendline around $63,514, while still capped by the Parabolic SAR at $65,404.
Momentum is constructive, with the Relative Strength Index (RSI) hovering near 54 and the Moving Average Convergence Divergence (MACD) line turning slightly positive, which together hint that buyers are gradually regaining control even though the broader trend remains constrained by the 100-day and 200-day EMAs at $67,043 and $72,505, respectively.
BTC/USDT daily chartOn the downside, initial support emerges at the 50-day EMA near $64,673, followed by the former descending trendline barrier turned support around $63,514. On the topside, immediate resistance is defined by the Parabolic SAR at $65,404, with further hurdles at the 100-day EMA around $67,043.20 and then the 200-day EMA near $72,505, levels that would need to be decisively cleared to strengthen the bullish continuation narrative.
“Bitcoin continues to trade roughly 50% below its all-time high reached in October, highlighting that the market still requires new catalysts to establish a stronger bullish trend,” Massabni added.
Altcoins technical outlook: Ethereum rebounds as XRP weakensEthereum trades at $1,913, holding above the 50-day EMA at $1,856 and the broken rising trendline support near $1,859, which together underpin a mildly constructive near-term tone. Still, the pair remains capped beneath the 100-day EMA at $1,925 and the 200-day EMA at $2,134, keeping the broader recovery in check until these levels are reclaimed.
The RSI around 56 suggests moderate bullish momentum, while the MACD still prints a negative histogram, hinting that upside pressure is improving but not yet dominant.
ETH/USDT daily chartImmediate support lies at the $1,913 area as a short-term pivot, followed by the former trendline break level at $1,859 and then the 50-day EMA at $1,856, where buyers are likely to defend the broader uptrend structure. On the topside, initial resistance emerges at the 100-day EMA at $1,925. A sustained move above this barrier would open the way toward the more significant 200-day EMA at $2,134, beyond which the medium-term bullish case would be reinforced.
XRP, on the other hand, maintains a bearish near-term bias as the spot price holds beneath the 50-day EMA at about $1.11, the 100-day EMA near $1.20, and the 200-day EMA around $1.39, keeping the broader recovery capped. Bollinger Bands show price trading below the midline at roughly $1.09, while the RSI near 40 and a negative MACD reading hint at subdued momentum consistent with continued downside pressure.
XRP/USDT daily chartOn the topside, initial resistance emerges at the Bollinger Band midline around $1.09, with the 50-day EMA at $1.11 reinforcing a nearby supply zone before stronger caps align at the 100-day EMA near $1.20 and the 200-day EMA around $1.39. On the downside, the lower Bollinger Band at approximately $1.04 acts as immediate support. A clear break under this level would open the door to further weakness as sellers retain control below the stacked daily EMAs.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Bitcoin, altcoins, stablecoins FAQs Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.
Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.
Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.
Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.
Trust in crypto exchanges has been a work in progress since late 2022, when FTX’s collapse taught everyone that “your funds are safe” can mean very different things. Binance’s latest Proof of Reserves report, based on a snapshot taken August 1, offers its answer to that lesson: on-chain wallets holding more than the platform owes users, across every major asset it tracks.
The numbers are straightforward. Bitcoin is backed at 100.25%, Ethereum matches that figure exactly, and the stablecoin picture is even more comfortable, with USDT at 103.62%, USDC at 107.64%, and USD1 at 112.80%.
What the numbers actually say The snapshot was taken at August 1, 2026, at 00:00:00 UTC, pegged to Bitcoin block height 962079. That level of specificity matters. It makes the data point-in-time verifiable rather than a vague general claim.
On the Bitcoin side, Binance’s net user account balances stood at 656,644.187 BTC, while on-chain wallets held 658,293.119 BTC. In English: the exchange keeps slightly more Bitcoin on-chain than users are collectively owed, which is exactly the point of the exercise.
Ethereum net balances came in at approximately 3.98 million ETH, also covered at 100.25%. The USDT position is the largest in dollar terms, with net holdings valued at roughly $32.9 billion, backed at 103.62%.
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SOL sits at exactly 100.00%, which is the minimum acceptable threshold. It passes, but there is no cushion there worth celebrating.
The methodology behind these figures is worth understanding. Binance uses two overlapping verification tools: Merkle tree proofs and zk-SNARKs, a form of zero-knowledge cryptography. The Merkle tree approach lets any individual user verify their own balance is included in the total. The zk-SNARK layer proves the aggregate math is correct without exposing anyone’s private account data.
How Binance got here Binance started publishing Proof of Reserves in late 2022, directly in response to FTX. The early versions relied on third-party audits, which had their own limitations, including auditor liability concerns that led some firms to quietly walk away from crypto attestations during that period.
The shift to a self-verified zk-SNARKs system was a technical upgrade, not a retreat from accountability. Zero-knowledge proofs, when implemented correctly, are mathematically stronger than a traditional audit because they do not rely on trusting the auditor’s methodology or independence.
The BTC holdings figure tells a growth story as well. Net balances on the platform stood at around 591,000 BTC in early 2025. The jump to 656,644 BTC by August 2026 represents a meaningful increase in user deposits.
What investors should watch The $32.9 billion USDT position is significant. Tether remains the dominant stablecoin for crypto trading pairs, and a 103.62% backing ratio at that scale means Binance is holding reserves in excess of what users could theoretically withdraw all at once.
USDC’s 107.64% backing and USD1’s 112.80% ratio follow the same logic. Higher overcollateralization in stablecoins reduces the risk of a run scenario where user withdrawals outpace available reserves.
The growth in BTC holdings from 591,000 to 656,644 between early 2025 and August 2026 is the kind of concrete, time-stamped data point that appears in custody assessments and counterparty risk reviews.
The one area worth watching going forward is the SOL position sitting precisely at 100.00%. A collateralization ratio at the floor with no buffer means any increase in net user balances, even a small one, would theoretically put it below par before the next rebalancing.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Uniswap’s UNI token advanced nearly 7% from its 24-hour low, supported by fresh developments around the decentralized exchange’s integration with the Robinhood Chain and new governance changes that enhance the token’s utility.
Robinhood Chain drives fee surge and new launchesUniswap Labs announced the launch of pools.trade, a native token creation platform tailored specifically for the Robinhood Chain. This development arrives as Robinhood Chain emerges as one of the primary fee generators for the protocol, rivaling Uniswap’s deployed networks on Ethereum, Arbitrum, and Base.
Pools.trade, now integrated with Uniswap v4, enables project teams to issue new tokens and automatically create protocol-owned liquidity pools. Unlike conventional launchpads, liquidity management and the compounding of creator fees within these pools are automated, reducing manual intervention for token issuers.
The platform introduces two token launch tracks: an Instant Launch using a traditional bonding curve for immediate trading access, and a Crowd Launch, which leverages a four-hour window and Time-Weighted Average Price (TWAP) bidding to limit bot activity during launches.
Tokens released via pools.trade are instantly accessible on the Uniswap Web App, Wallet, and API, with all trades routed through Uniswap v4, generating protocol fees from the first transaction.
Uniswap Labs stressed that Robinhood Chain’s rapid fee generation now accounts for nearly half of Uniswap’s weekly protocol revenue, as tokenized equity trading has fueled continuous volume and made the chain a key pillar for the exchange.
Since its launch as an Arbitrum Orbit Layer 2 network, Robinhood Chain enabled Uniswap to offer decentralized trading for tokenized stocks such as Apple, Nvidia, and Google, including outside of traditional market hours. In its first ten days, Robinhood Chain processed over $6 billion in swap volume and contributed a steady stream of fees as opposed to the sporadic spikes often seen in crypto-only markets.
Governance reforms energize UNI buybacks and burnsRecent governance approvals, including Proposal 100, have implemented sweeping changes to how Uniswap’s protocol fees are directed. Historically, UNI functioned solely as a governance asset, while liquidity providers collected trading fees in their entirety.
With governance changes now in effect, a portion of swap fees is redirected to TokenJar smart contracts. Automated mechanisms compete to purchase assets from TokenJar, buying UNI on the open market, then bridging it to Ethereum where the tokens are permanently burned—reducing the circulating supply.
Protocol revenue has surged, with daily earnings rising from about $114,000 to above $325,000, increasing the pace of token burns whenever network activity persists. This introduces a direct cash flow benefit for UNI holders, tying protocol usage to ongoing buybacks and supply reduction.
Uniswap’s new fee structure effectively transforms UNI into a deflationary asset, as real protocol earnings now drive recurring buybacks and token destruction linked to the platform’s activity across multiple chains.
Technical outlook and market positioningUNI staged an intraday rally from $3.92 to $4.19 and traded near $4.09 at last check, building on a 2% weekly gain and a monthly surge of more than 30%. The daily chart shows UNI holding above its 20, 50, 100, and 200-day exponential moving averages, signaling sustained buying momentum.
The Relative Strength Index (RSI) stood close to 58, indicating bullish momentum despite cooling from recent highs. On the 4-hour timeframe, UNI’s price hovered near the volume-weighted average price (VWAP), with the Moving Average Convergence Divergence (MACD) staying positive but flattening as momentum tapered after the latest advance.
Volume expanded during UNI’s push toward $4.19, then decreased as the token moved into a consolidation phase. Key resistance lies in the $4.18 to $4.25 zone, where elevated leveraged positions could trigger additional buying pressure if breached. The immediate support sits near $4.00, with a more substantial liquidity cluster between $3.88 and $3.90.
As traders monitor UNI’s next decisive move, financial tools such as CryptoAppsy, an all-in-one investment assistant, are enhancing market analysis. Without the need for account creation, CryptoAppsy provides real-time prices, advanced charting, and portfolio management in multiple currencies. Its functionality includes setting intelligent price alerts, filtering coin-specific news, and accessing critical macroeconomic data, including Fed interest rates—key for reacting rapidly to shifts in UNI’s technical and fundamental 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.
Crypto market maker GSR has released the latest performance update for its Crypto Core3 model portfolio, showing that even professionally managed crypto portfolios have struggled in 2026. Over the past year, the portfolio returned -57.78%, underperforming an equal-weight portfolio of Bitcoin, Ethereum, and Solana, which fell 49.84% during the same period.
Latest Portfolio AllocationAs of August 5, GSR’s Core3 portfolio consists of:
Ethereum: 44.1%Solana: 36.5%Bitcoin: 19.3%The latest rebalance increased Bitcoin exposure while reducing Ethereum allocation as trading activity slowed and market volatility eased.
Bitcoin Remains the Strongest PerformerBitcoin has been the strongest performer among the three assets this year. It is down 24.82% year-to-date and 47.08% over the past year.
Over the last 30 days, Bitcoin gained 1.26%. Its 30-day volatility stood at 29.89%, the lowest among the three assets.
Ethereum Still Holds the Largest WeightDespite the rebalance, Ethereum remains the portfolio’s largest holding at 44.1%.
ETH is down 35.49% year-to-date and 44.73% over the past year. However, it posted the strongest monthly gain, rising 5.16% over the last 30 days. Its 30-day volatility is 41.69%.
Solana Holds a Steady AllocationMidweek #SOLANA Lookout for august:
Solana is stuck below $75. After hitting a July high of $83, it’s now trading around $73, and while retail traders are frustrated and selling, three major developments are unfolding that most people are missing.cryptonews+2
Three things…
— 𝕀 𝔸𝕄 𝔻𝔼𝔾𝔼ℕ 𝕃𝔸𝔹𝕊 (@IamDegenLabs) August 5, 2026 Solana accounts for 36.5% of the portfolio.
SOL has posted the largest decline among the three assets, falling 40.21% year-to-date and 54.89% over the past year. It also dropped 9.64% over the last 30 days.
GSR said Solana’s lower volatility and stable price movement supported its relatively large allocation in the portfolio.
Outside GSR’s report, market analyst IamDegenLabs said several developments could improve Solana’s outlook in the coming weeks.
The analyst pointed to governance proposals that aim to increase token burns and reduce inflation, BlackRock’s filing to launch tokenized fund shares on Solana, more than 1 billion weekly network transactions, and continued ETF inflows.
According to the analyst, $75 is the key resistance level. A move above it could push SOL toward $78-$80, while a drop below $70.70 could send the price to the $66-$68 range.
GSR Adjusts to a Slower MarketAccording to GSR, crypto markets remained subdued over the past week, with lower trading volumes, smaller price swings, and easing volatility.
The firm responded by adopting a more balanced allocation while modestly increasing its Bitcoin exposure.
The latest update shows Bitcoin has outperformed Ethereum and Solana during the current market cycle. However, all three assets remain well below their levels from a year ago, highlighting the broader downturn across the crypto market.
Story Ends Here
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Is Lee Sounding an Alarm for Bitcoin?During an interview with CNBC, Lee acknowledged the looming threat, popularly known as “Q-Day”, when quantum computers become powerful enough to break standard internet encryption.
Lee noted that networks such as Ethereum and Solana are developing quantum resistance, so it’s “probably not gonna be a problem” for them.
“But for bitcoin they haven’t come to a consensus on how to prevent Q-Day,” the Fundstrat co-founder said.
Potential Threat to BitcoinFor Bitcoin, quantum computing poses a theoretical risk: private keys could be derived from exposed public keys in 9 minutes, opening a pathway for unauthorized access to funds.
Jameson Lopp, co-founder and chief security officer at self-custody platform firm Casa, has estimated a “greater than 50% chance” that it will take at least another decade before a quantum computer emerges that could pose a threat to Bitcoin.
Not an Existential Risk, Say Crypto FiguresCoinbase, in fact, announced the formation of an advisory board earlier this year to assess the implications of quantum computing and prepare for “threats.”
A suggested that a protocol update to protect Bitcoin from quantum computing threats could require nearly 305 days of downtime if only 25% of the bandwidth is allowed for the process.
That said, not everybody is sweating over the so-called Q-day. International Business Machines Corp (NYSE:IBM) CEO Arvind Krishna said quantum computing could start having a “measurable impact” on the company’s revenue and profit by 2028 or 2029.
Price Action: At the time of writing, BTC was exchanging hands at $64,588.02, up 0.61% in the last 24 hours, according to data from Benzinga Pro.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Quality Stock Arts on Shutterstock.com
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Grayscale has completed CoinDesk Crypto 5 ETF’s (GDLC) quarterly rebalancing, increasing XRP, Solana (SOL), and Bitcoin (BTC) allocations. The crypto asset manager also announced weightings of Ethereum (ETH) and BNB in the large-cap digital assets fund.
XRP, Solana & Bitcoin Holdings to Rise in Grayscale’s GDLC ETF Grayscale Investments Sponsors finished its quarterly portfolio review and rebalanced the GDLC ETF in line with the CoinDesk 5 Index Methodology. The index provider determined that Bitcoin, Ethereum (Ether), XRP, Solana (SOL), and BNB continued to meet the inclusion criteria.
As a result, Grayscale has adjusted the fund’s portfolio by purchasing and selling some existing fund components in line with their weightings. Thus, no new tokens were added to or removed from the GLDC ETF during rebalancing.
The crypto components’ weighting in the fund is adjusted to 75.54% Bitcoin, 13.30% Ethereum, 4.64% BNB, 3.98% XRP, and 2.54% SOL. Each share represented almost 0.0003 Bitcoin, 0.0021 Ether, 0.0023 BNB, 1.0633 XRP, and 0.0099 SOL.
Notably, the earlier allocations were 75.53% BTC, 13.43% ETH, 4.64% BNB, 3.88% XRP, and 2.52% SOL. The latest update shows a slight increase in XRP, Solana, and Bitcoin weightings, whereas a small cut in Ethereum. Meanwhile, BNB’s allocation remains stable at 4.64% in the Grayscale GDLC ETF.
Meanwhile, Grayscale XRP ETF (GXRP) sold over $180 million worth of Ripple’s XRP. It also reported massive depreciation in net asset value due to XRP price downturn.
Price Action Mixed amid Rising Uncertainty Bitcoin price holds advance towards $65K amid pause in US-Iran war for diplomatic deal between the US, Iran and Oman. BTC currently trades at $64,722, up almost 1 % over the past 24 hours, but trading volume remains low due to broader crypto market uncertainty.
Meanwhile, XRP price dropped more than 2% in the past 24 hours as Senate Majority Leader John Thune didn’t file cloture on the Clarity Act. XRP is currently trading at $1.05, with a 24-hour low and high of $1.04 and $1.07, respectively.
However, trading volume has increased by 33% over the last 24 hours as traders await Clarity Act’s progress in the Senate. Analyst Ali Martinez predicted a fall to $0.80 if XRP price fails to hold above $1.
Check out the best crypto copy trading platforms to closely track the moves of experienced traders amid crypto market uncertainty.
Leading cryptocurrencies inched higher on Wednesday amid a renewed Senate push to pass the CLARITY Act before the recess.
‘Extreme Fear’ ReturnsBitcoin staged a late-afternoon rally but fell short of the $65,000 mark as trading activity stayed subdued. Ethereum posted a stronger advance, climbing to an intraday high of $1,922, while XRP and Dogecoin traded lower.
Drama over the CLARITY Act persists, with Senate Majority Leader John Thune (R-S.D.) floating a last-minute vote to pass the cryptocurrency legislation in the Senate.
Over $250 million was liquidated from the cryptocurrency market in the last 24 hours, with $169 million in bearish short positions erased, according to Coinglass data.
Bitcoin’s open interest rose 1.17% over the last 24 hours. Smart money sentiment, which refers to the collective outlook and capital allocation of institutional investors, turned "extremely bearish." Binance top traders, i.e., top 20% users with the highest margin balance, remained net long on Bitcoin, but the long exposure has fallen significantly this week.
"Extreme Fear" sentiment returned to the market, according to the Crypto Fear & Greed Index.
Top Gainers (24 Hours)
The global cryptocurrency market capitalization stood at $2.2 trillion, following a dip of 0.79% over the last 24 hours.
Dow Extends Winning RallyThe Dow Jones Industrial Average soared 263.24 points, or 0.49%, to hit a record close of 54,349.12. The S&P 500 retreated 0.17% to close at 7,723.55, while the tech-heavy Nasdaq Composite pulled back 0.83% to end at 26,363.44.
Historical Bottom Signal EmergesAli Martinez, a widely followed cryptocurrency analyst and trader, identified a bullish divergence between Bitcoin’s price and net capital flows.
“The last bullish divergence between the BTC price and Net Capital Flows marked the cycle bottom,” Martinez stated. “The same signal is back.”
The analyst noted that the last such signal preceded the rally from $15,000 to $126,000, representing a 740% upside.
Michaël van de Poppe, another popular cryptocurrency commentator on X, said that if the CLARITY Act passes this week, it would end the market’s wait-and-see stance and trigger a bull rally for Bitcoin and altcoins.
Photo: KateStock / Shutterstock
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Maelstrom founder Arthur Hayes says the AI boom is a credit bubble.
Once it unwinds, governments will print enough money to send Bitcoin (CRYPTO: BTC) to $1 million.
Why Hayes Says AI Is A Credit Bubble, Not A Tech BubbleHayes argued in a Substack essay on Wednesday that the dot-com crash was an earnings story because companies had no revenue.
The 2008 crisis was a credit story because lenders poured money into property that stopped appreciating. AI, he argued, is the 2008 version.
Hyperscalers are building data centers, which are fundamentally real estate projects, not technology ventures.
Lenders are treating that debt as if they are funding Apple (NASDAQ:AAPL) rather than Lehman Brothers.
When AI capital expenditure growth decelerates in 2027 and contracts in 2028, the weakest credits fail and the government steps in with a bailout larger than anything seen after 2008.
Where Bitcoin Fits Into The Timeline?Hayes said Bitcoin has already bottomed or is very close, with the asset likely sideways between $60,000 and $70,000 near term and potential downside to $50,000.
The AI credit expansion is already misallocating capital on a scale comparable to the US railroad boom as a percentage of GDP, meaning the eventual bailout will dwarf the trillions printed after the financial crisis.
Bitcoin was created as a direct response to that 2008 bailout. This time it already exists and is positioned to absorb the liquidity wave directly.
Why Hayes Is Buying Ethereum Over Bitcoin Right Now?Hayes said Maelstrom is heavily long Bitcoin but sees Ethereum (CRYPTO: ETH) as the next trade, targeting $5,000 by year-end, roughly 2.6 times current levels.
His thesis is that corporate chains like Robinhood Markets (NASDAQ:HOOD) are building on Arbitrum, an Ethereum Layer 2, making Ethereum the security settlement layer for tokenized real-world assets.
He cited Bitmine Immersion Technologies Inc (NASDAQ:BMNR) Chairman Tom Lee’s institutional backing as providing cover for portfolio managers to build ETH positions around the tokenization theme.
Why The Fed Is The Wildcard?Hayes pointed to the Fed’s decision to hold rates last week as evidence the government is already engineering a steeper yield curve to make bank lending more profitable.
He said banks are directing capital toward AI lending, and when those loans sour, governments will step in with a bailout that arrives quickly and at a scale the market is not prepared for.
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First production Layer 2 to stream EIP-7928@worldnetwork says it will become the first production Layer 2 to stream EIP-7928 block access lists, going live on mainnet on August 17. The network will stream full block access lists inside every flashblock, allowing validators to begin verifying transactions while blocks are still being assembled. That inverts the usual approach, where nodes must replay everything sequentially after a block is complete.
Block-Level Access Lists (BALs) function like a map for the network, detailing which parts of the database will be accessed before the work begins. The execution layer stores the full Block Access List, including every account change that the transactions will touch, along with the final results of those changes. Because they give instant visibility into which transactions do not overlap, BALs allow nodes to perform parallel disk reads, fetching information for many transactions simultaneously.
Unlike Ethereum's planned implementation of EIP-7928, which is expected to arrive as part of the Glamsterdam upgrade, World Chain is deploying the feature through a runtime flag rather than a hard fork. This approach allows client operators to upgrade software ahead of the August 17 mainnet rollout without requiring a coordinated network-wide upgrade.
Throughput target and the Glamsterdam connectionInternal benchmarking on World Chain test networks showed validation latency remained effectively stable even as throughput increased substantially, reaching up to one gigagas per second using standard cloud infrastructure. According to the results, higher transaction throughput can be achieved without a corresponding increase in the computing resources required for independent chain verification.
The implementation is designed to address one of the blockchain industry's key scaling challenges: boosting transaction capacity without compromising decentralization by forcing validators to use increasingly powerful hardware.
For @ethereum, EIP-7928 is central to its own roadmap. Glamsterdam is Ethereum's next major network upgrade after Fusaka, combining the Gloas consensus layer fork and the Amsterdam execution layer fork. It is headlined by two changes: enshrined proposer-builder separation (EIP-7732), which moves block building into the protocol, and Block-Level Access Lists (EIP-7928), which enable parallel transaction execution. Glamsterdam is Ethereum's next hard fork after Fusaka, targeting activation at the end of August 2026.
World Chain's early rollout gives the broader Ethereum ecosystem a live production data point on EIP-7928 ahead of that hard fork, potentially informing how the feature performs under real network conditions.
Sources:
World Chain to launch streamed EIP-7928 block access lists - CoinJournal
Glamsterdam upgrade overview - Ethereum.org
Ethereum Glamsterdam upgrade: what changes for infrastructure - Chainstack
A Security Gap That HTTPS Cannot FixThe @ethereumfndn's Trillion Dollar Security (1TS) initiative has awarded a grant to the Freedom of the Press Foundation (FPF) to fund continued development of WEBCAT, an open-source browser verification tool. WEBCAT lets browsers verify that code served by an enrolled website matches what its developers published.
The grant addresses a specific and underappreciated vulnerability in how web applications work today. HTTPS authenticates the site you connect to and encrypts the connection, but it does not prove that the code the site serves matches what its developers published. Without an independent integrity check, a browser can run an altered front end without warning. For $ETH users, that creates a real risk: a tampered front end can silently swap recipient addresses or trick users into signing transactions that differ from what is displayed on screen.
When a user visits a site enrolled in WEBCAT, the browser extension verifies the application's served assets against a signed manifest before any content is executed. If verification fails, WEBCAT blocks the page from loading and shows a warning, protecting users from attacks where an attacker may compromise the server.
What the Grant FundsThe grant funds research into supporting Chrome and other Chromium browsers, help for teams adding WEBCAT to their apps, an independent security audit, and an Ethereum Request for Comments (ERC) standard so wallet developers have a common framework to follow. A wallet that integrates the library can verify enrolled sites directly, so users get the protection without installing a separate extension.
WEBCAT was not built with crypto in mind. The original problem it was designed to solve is that a compromised server could send altered code that captures content before encryption. WEBCAT is intended to detect and block that kind of alteration. SecureDrop Protocol is an ongoing research project to develop an end-to-end encrypted protocol for whistleblowing applications, allowing deployments in untrusted server environments. WEBCAT was built to protect that system, used by newsrooms worldwide to receive tips from confidential sources.
The same code-integrity risk applies when Ethereum users interact with browser-based app front ends, which is why a tool built to protect sources and journalists also fits wallets and apps. The 1TS initiative also noted that WEBCAT will complement its existing Clear Signing work. Clear Signing helps users understand what they are approving, while WEBCAT integration would help wallets verify that an enrolled app's front end matches its signed manifest.
Ethereum Foundation Blog: Announcing a Trillion Dollar Security grant for WEBCAT | SecureDrop: Introducing WEBCAT | SecureDrop: Help us test WEBCAT alpha
