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After a multi-week streak of inflows, US spot Ethereum ETFs saw -105K $ETH in net outflows last week as institutional investors pulled back. The market bounced back this week, with +16.9K $ETH added yesterday, showing renewed confidence and growing interest in Ethereum among institutions.
One of the biggest Bitcoin long liquidation events since December 2024 occurred in the cryptocurrency market yesterday. The trend wiped out nearly $150 million in long positions as the price of BTC dropped. The market’s volatility and the dangers traders confront while holding leveraged positions are both sky high right now.
In an effort to provide regulated access to the top oracle network for U.S. investors, Bitwise has filed an S-1 application with the SEC to introduce a Chainlink ($LINK) ETF. If authorised, this would be the first ETF of its sort, which would be a significant turning point for $LINK.
Gemini has risen to 16th place in the US iOS App Store rankings since launching its XRP Mastercard. The rise has also seen Gemini overtake Coinbase, which is currently ranked 20th. The spike illustrates how new goods, such as the XRP card, can increase engagement in a competitive crypto app market and reflects increased user enthusiasm.
According to billionaire investor Tim Draper, the market is headed towards Bitcoin in the long run, even though other cryptocurrencies could seem like “flashes in the pan.” In the face of a fast-changing cryptocurrency ecosystem, Draper’s comments highlight his ongoing belief in Bitcoin as the top digital asset.
To protect investors and market integrity, the World Federation of Exchanges (WFE) is urging authorities to enhance their oversight of tokenized equities. The WFE emphasizes the need for precise regulations regarding transparency, custody, and trading procedures as digital assets gain traction. It asserts that stricter regulation will ensure that these markets grow safely as the tokenised asset space grows, protecting players and fostering confidence.
In July, Hyperliquid achieved $330.8B in spot and perpetual trading volume, $93B (39.1%) more than Robinhood’s $237.8B. This was the third straight month that Hyperliquid has been in the lead. Even though the company only has 11 employees, it makes $1.167 billion a year, which is more over $100 million per worker and even more than Tether.
Pantera Capital intends to fund $1.25 billion and transform a publicly traded corporation into a Solana investment firm. It would be the biggest treasury ever built with a focus on Solana. Beyond the numbers, the move demonstrates the rising trust in Solana’s ecosystem. The decision also highlights that Solana may be about to embark on its most ambitious phase to date.
Significant American banking organisations, such as the Bank Policy Institute and the American Bankers Association, are raising concerns about the recently enacted GENIUS Act. They worry that a legal loophole would allow cryptocurrency exchanges to lure money away from banks by covertly offering stablecoin rewards that resemble interest. The organisations caution that this might deplete deposits of up to $6.6 trillion, posing new threats to the financial system. Politicians are now under pressure to review and strengthen the law.
According to David Bailey, Trump’s crypto advisor, it will be a few years before there is another Bitcoin downturn. His upbeat outlook contributes to investors’ increasing confidence in Bitcoin as they consider it for the future.
