Crypto winds shifted into the evening with Bitcoin (BTC) cooling and Ethereum (ETH) stealing the spotlight. After printing a record above 124,000, BTC struggled to keep altitude, hovering near 110,000 to 112,000 as selling pressure weighed on momentum. ETH, meanwhile, drew fresh institutional attention as U.S. Ethereum ETFs absorbed 455 million of inflows on Aug. 26, with BlackRock and Fidelity hoovering up supply. VanEck CEO Jan van Eck called ETH Wall Streets preferred token and urged banks to adopt blockchain for stablecoin transfers within a year, adding fuel to the narrative that Ethereum is outpacing Bitcoin in real-world traction. Regulators made waves as the CFTC clarified that U.S. traders can legally access offshore exchanges like Binance, Bybit, and OKX under a new framework, opening pathways for foreign venues to serve Americans. In Hong Kong, geopolitical ripples surfaced when officials withdrew from Bitcoin events tied to concerns around Eric Trump. Stateside, a different Trump headline took shape as American Bitcoin, backed by Donald Trumps sons, readied a Nasdaq debut via a merger with Gryphon Digital Mining, slated for early September under the ticker (ABTC). Stablecoins drew both encouragement and skepticism. Payments startup Rain raised 58 million to scale a Visa-supported platform for instant, compliant global transfers. Tether said it will bring USDT to Bitcoin via the RGB protocol, aiming to deepen BTC utility and liquidity by anchoring stable value to Bitcoins security. In sharp contrast, former PBOC chief Zhou Xiaochuan warned that stablecoins remain prone to leverage and manipulation risks even with reserves, urging tougher oversight as global adoption accelerates. Chainlink (LINK) had a moment. Bitwise filed for what would be the first U.S. spot Chainlink ETF, positioning to custody LINK with Coinbase and track a dollar reference rate, while LINK held firm near 24. The oracles real-world data pitch also found a new showcase: the U.S. Commerce Department is pushing government economic stats on-chain and partnered with Chainlink to pipe trusted BEA data like GDP and inflation onto public ledgers. In parallel, the department began publishing GDP figures across nine blockchains, including Bitcoin (BTC) and Ethereum (ETH). Corporates took note too. CaliberCos stock ripped after unveiling a digital asset treasury centered on LINK, underscoring growing appetite to hold or interface with oracle-driven assets. Institutions kept circling ETH beyond the ETF flows. ARK Invest beefed up exposure to Ethereum via a 15.6 million purchase in BitMine Immersion Technologies, bringing its total stake north of 300 million and signaling conviction in firms with ETH exposure on the balance sheet. On the network side, Solana (SOL) validators began voting on the Alpenglow upgrade, which targets faster finality and a major consensus leap, though support remains early. In Europe, Valour launched the first Pi Network (PI) ETP on Sweden’s Spotlight exchange as Pi shipped a v23 protocol upgrade, pulling new eyes to the project. Not every corner of crypto is thriving. The Sandbox (SAND) began a major restructuring with over 50 percent layoffs and a pivot toward a Base memecoin launchpad, a sign of shifting priorities as metaverse engagement fades. Legal aftershocks from 2022 persisted as Fenwick and West moved to dismiss and block updates to a lawsuit tying the firm to FTXs collapse. Token action stayed lively into the close. Cronos (CRO) surged more than 50 percent in 24 hours on a new 2025 to 2026 roadmap before profit taking set in, extending a weeklong run to roughly 140 percent. Shiba Inu (SHIB) posted a burst in transfer volumes, burn activity, and derivatives interest as the community pushed harder on supply reduction. XRP (XRP) showed mixed momentum, pressing into higher targets but stalling near resistance around 3.30, while on-chain skeptic ZachXBT reignited controversy by calling XRP exit liquidity and criticizing community behavior after a fake airdrop drained 33,000 from one investor. Culture collided with tokens yet again as Kanye Wests YZY coin (YZY) left roughly 74 percent of its 70,201 investors in the red, with losses totaling about 26 million and only 11 wallets netting more than 1 million, according to Bubblemaps. It was a stark reminder that celebrity-fueled launches can be brutal for late entrants. As the day wraps, the scoreboard shows an ETH-led rotation, a friendlier U.S. stance toward accessing offshore venues, and an acceleration of on-chain public data that could redefine transparency. Next up, watch the pace of ETH ETF inflows, any early read-through on the Bitwise Chainlink ETF filing, the Solana Alpenglow vote, RGB-based USDT rollout on Bitcoin (USDT, BTC), and the ABTC listing timeline. See you tomorrow evening.
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📈💰The Federal Reserve announced today that it will maintain its current interest rates, citing a strong job market and moderate economic growth. This decision comes as no surprise to those in the crypto community, as many have been anticipating this outcome for weeks. However, this news may have some investors feeling slightly disappointed, as they were hoping for a rate cut to boost the market.💸💻Crypto tickers such as BTC, ETH, and XRP have been trending upwards in recent weeks, with many investors hoping for a continued bull run. However, with the Fed's decision to keep interest rates steady, some may be wondering if this will have a negative impact on the market. While it's impossible to predict the exact effect on crypto prices, it's important to remember that the Fed's decision is based on a variety of factors and not solely on the crypto market.📉🌎The Fed's decision also has implications for the stock market, with many investors closely watching the anno...
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