Coin Bytes Archives - Timescrypto

Coinbase Loses $300K in Token Fees Due to Smart Contract Flaw

Coinbase took a $300,000 hit after a misstep in how it interacted with decentralized exchange protocol 0x’s “swapper” contract. The error opened the door for MEV bots to quietly drain funds from one of its corporate wallets. Customer assets weren’t affected, but the incident is a reminder that even big-name exchanges can get caught out by DeFi quirks. Coinbase hasn’t shared exactly how it’ll patch things up, but eyes are on how it responds next.

Bitcoin Holds Strong at $122,639.54 Amid Bullish Market Momentum

Bitcoin is holding steady at $122,639.54, just slightly behind its record highs, with market sentiment staying upbeat. Strong institutional interest, steady ETF inflows, and growing mainstream adoption are keeping the rally alive. Traders are eyeing a potential breakout above resistance, which could push prices into uncharted territory. On-chain metrics point to a healthy network, and broader market conditions remain supportive. Still, given crypto’s trademark volatility, keeping an eye on key support levels is wise. For now, Bitcoin’s consolidation at these heights has bulls in control, cementing its place at the center of the ongoing digital asset market momentum.

Bullish Prices IPO Above Expectations

The initial public offering (IPO) of cryptocurrency exchange Bullish, which also owns the cryptocurrency news website CoinDesk, has been priced at $37 per share, beyond the expected range of $32–$33. Due to this pricing, the company is valued at $5.4 billion on the market, which indicates that investors are very interested in companies that deal with cryptocurrency. The IPO might draw more institutional and retail interest as cryptocurrency usage grows, establishing Bullish as a significant force in the developing blockchain and cryptocurrency sector.

Bessent Urges Significant Fed Rate Cuts

In order to better encourage economic growth, David Bessent thinks that the U.S. Federal Reserve should cut interest rates by 150 to 175 basis points from their current levels. He contends that, particularly when inflation trends decline, high rates run the risk of further weakening the economy than anticipated. Bessent’s remarks contribute to the escalating market discussion over the Fed’s future course, as investors keep a keen eye out for clues of a change in policy that would lower borrowing costs and encourage investment from businesses and consumers alike.

Michael Saylor on Why $MSTR Trades Above Bitcoin NAV

According to Michael Saylor, MicroStrategy ($MSTR) trades at a premium to the net asset value of Bitcoin due to four main advantages. These include superior institutional access, since equities and credit markets are more accessible to large investors than commodities; options advantages, which give traders flexibility; passive flows from index and ETF investments; and credit amplification, which increases returns through leverage. These elements, in Saylor’s opinion, make $MSTR more than just a Bitcoin holder; rather, it is a vehicle that increases exposure, draws in additional capital, and offers strategic advantages that are unmatched by direct BTC ownership.

Crypto Market Cap Hits $4.09 Trillion

The market capitalisation of the cryptocurrencies market has increased to $4.09 trillion, indicating robust investor confidence and positive momentum in digital assets. Altcoins and Bitcoin are both fuelling the surge, indicating a thriving and growing cryptocurrency ecosystem.

Bitcoin Dominance Slips as Altcoins Gain Momentum

Over the last two months, Bitcoin’s market dominance has decreased from 65% to 59%, indicating a shift in investor interest towards alt coins. As traders diversify into assets that could yield bigger returns than Bitcoin, the decrease reflects a larger risk-on mentality in the cryptocurrency market. New funding has been drawn to projects in the DeFi, AI, gaming, and layer-1 ecosystems, indicating a resurgence of interest in alternate blockchain uses. Even while Bitcoin is still the market leader, the increasing interest in altcoins points to a more competitive and dynamic market environment where money is moving across a greater variety of digital assets.

VivoPower Partners with Crypto.com for Institutional Crypto Custody

VivoPower, a treasury firm that specialises in XRP, has partnered with Crypto.com to safely handle its cryptocurrency holdings and mining activities. VivoPower can guarantee the security, compliance, and expert handling of its digital assets by utilising Crypto.com’s institutional-grade custody services. This action is in line with an increasing trend of businesses using blockchain technology with conventional financial procedures. For VivoPower, the collaboration is about more than just security; it’s about laying the groundwork for a strong future in which to expand its mining and cryptocurrency businesses with assurance. It’s an additional step in improving the accessibility, transparency, and dependability of corporate crypto management.

Standard Chartered Bullish on Ethereum: Price Forecasts Soar

The price projection for Ethereum has been greatly increased by Standard Chartered in the midst of a bull run. The banking behemoth predicts that by the end of 2025, the second-largest cryptocurrency by market capitalisation will have increased from its initial estimate of $4,000 to $7,500. By 2028, the bank also anticipates that ETH may reach $25,000. Ethereum’s optimistic forecasts are in line with rising assurance about the network’s uptake, decentralised finance uses, and general market usefulness. These updated goals are mostly driven by institutional interest, layer-2 scaling solutions, and the ongoing growth of smart contracts, according to analysts. The optimistic forecast suggests that Ethereum may continue to be a key component of the cryptocurrency ecosystem in the years to come.

OKX Executes Major OKB Upgrade, Burns 65.25M Tokens and Fixes Supply

A significant update to OKX’s X Layer has been implemented, permanently burning 65.25 million OKB from reserves and previous buybacks. In an effort to increase transparency and scarcity, the OKB smart contract will no longer permit manual burning or minting, setting the total supply at 21 million. OKTChain will be phased out as part of the update, and OKT will be replaced by OKB based on the average price between July 13 and August 12, 2025. The market was startled by the news, and OKB quickly reached a new all-time high of $134 before settling at $129.