7,625 BTC Transfer... Coinbase → Anonymous
According to Whale Alert, 7,625 BTC was transferred from a Coinbase address to an anonymous address. The amount is worth $900 million.
Galaxy Digital Wallet Withdraws 2,500 BTC... Another Selling Pressure?
Crypto Quant contributor Maartunn reported, "2,500 BTC ($300 million) was withdrawn from the Galaxy Digital wallet. A similar situation occurred on July 25th and led to significant selling pressure."
TD Cowen: "Strategy Can Purchase 17,000 BTC Without Stock Dilution"
US investment bank TD Cowen analyzed that if Strategy uses the entire $2.47 billion raised from issuing 28 million preferred shares with variable rates, it could acquire approximately 20,500 BTC (assuming an average price of $120,000). According to The Block, TD Cowen explained that "Strategy provides various Bitcoin-based securities targeting prudent investors, serving as a channel for institutional capital to flow into Bitcoin. No one will be able to match Strategy's capital cost advantage. Even if they issue common shares in the next 10 years to fund cash dividends related to variable rate preferred shares, they can purchase an additional approximately 17,000 BTC without common stock dilution."
Plasma Raises $370 Million Through XPL Token Sale
The Block reported that Bitfinex-backed Layer 1 Plasma raised $373 million through a 10-day token sale. This is over 7 times the initial fundraising goal of $50 million. 10% of the total 1 billion XPL was sold to early participants. Plasma is a Layer 1 network supporting USDT transfers without fees.
Chicago Options Exchange Submits SOL ETF Documents
Ublockchain reported that the Chicago Options Exchange (CBOE) submitted an exchange rule change proposal (19b-4) to the US Securities and Exchange Commission (SEC) for listing the Invesco-Galaxy SOL ETF.
OKX Launches Crypto Derivatives in UAE
OKX announced the global first launch of regulated derivatives for individual investors in the United Arab Emirates. They will offer cryptocurrency futures, perpetual contracts, and options with up to 5x leverage.
ETHA Trading Volume in Top 0.4%
Bloomberg Senior ETF Analyst Eric Balchunas stated, "BlackRock's ETH ETF ETHA is today the 17th most traded ETF. This is the first time it has been in the top 0.4%. ETHA rose 5% today, and since it's a newly launched product, a significant portion of its trading volume is expected to convert to buying pressure."
Ark Invest Partners with SOL Strategies for Staking Service
Coin Telegraph reported that Cathie Wood's Ark Invest has designated SOL Strategies as the sole staking partner for the Digital Assets Revolutions Fund. Ark plans to entrust its validator operations to SOL Strategies' staking infrastructure.
Ray Dalio: "Allocate Minimum 15% Portfolio to Gold, BTC"
Decrypt reported that US hedge fund titan Ray Dalio suggested allocating a minimum of 15% of one's portfolio to gold and Bitcoin as a hedge against macroeconomic risks.
US Department of Justice Seeks to Forfeit $2.3 Million BTC
Decrypt reported that the US Department of Justice submitted a civil complaint to forfeit $2.3 million worth of BTC seized from the ransomware group Chaos. The assets were seized in mid-April.
Coinbase BTC Buying Streak Ends After 94 Days... Longest in History
Crypto Quant contributor Maartunn noted, "Coinbase's BTC buying streak has ended after 94 days. This was the longest continuous buying record in history. Is this a signal changing market dynamics? Or just a temporary retreat before momentum returns?"
Whale Buys $20 Million ETH with 100% Swing Trading Success
ai_9684xtpa reported, "A whale with a 100% ETH swing trading success rate since June 20th just purchased $20 million worth of ETH 11 minutes ago."
US SEC Extends Review for Grayscale SOL and Truth Social BTC ETFs
The US Securities and Exchange Commission (SEC) has extended the review period for Grayscale's SOL spot ETF and Truth Social's spot BTC ETF.
250,261,617 USDT Transfer... OKX → Anonymous
According to Whale Alert, 250,261,617 USDT was transferred from an OKX address to an anonymous address. The amount is worth $250 million.
267,172,414 USDT Transfer... Anonymous → OKX
According to Whale Alert, 267,172,414 USDT was transferred from an anonymous address to an OKX address. The amount is worth $270 million.
Euler Proposes Fee Increase for Specific Products
DL News reported that Euler, a DeFi lending protocol, is voting on a proposal to increase fees for specific products. This could potentially increase protocol revenue by 414%. If the proposal passes, a 10% fee will be added to the Euler Prime Stablecoin Vault and all Euler Yield Vaults. Fees for other products will remain unchanged.
Bernstein: "ETH-Buying Firms Must Consider Liquidity and Other Risks"
Wall Street asset management firm Bernstein diagnosed that various companies are purchasing ETH, which could create liquidity and smart contract risks. According to The Block, Bernstein stated, "Companies bought 876,000 ETH in July. Currently, companies hold about 0.9% of the supply. Companies are turning to ETH staking, which requires them to consider various factors like withdrawal preparedness, restaking, DeFi smart contract risks, and debt management. Staking liquidity is generally high, but unstaking can take days, and pursuing additional returns through restaking platforms like EigenLayer increases risks." They also forecast potential ETH price increases. Analysts noted that "network usage increases through fee-burning mechanisms, staking yields, stablecoin circulation, and RWA (real-world asset) tokenization could drive prices higher."
Opinion: "ETH Could Reach $13,000 in Q4"
Famous cryptocurrency analyst Wolf predicted that ETH could reach $13,000 as early as the fourth quarter. According to CoinDesk, he also projected a conservative target price of over $8,000, which is more than twice the current market price, arguing that the current downturn is the last adjustment before a long-term rally. Placeholder Ventures partner Chris Burniske said that the sentiment around ETH has changed from the most disliked coin to the most loved coin in the past month.
US CFTC Chairman Confirmation Vote Canceled Again
Crypto in America host Eleanor Terrett reported that the US Senate Agriculture Committee's CFTC Chairman Brian Quintenz confirmation vote was canceled again. The reason remains unknown.
US-China Trade Negotiations First Day Concludes
Walter Bloomberg reported that the first day of US-China trade negotiations in Stockholm has concluded. Attending the meeting were Scott Bessent, US Treasury Secretary, Jamieson Greer, USTR representative, and He Lifeng, Vice Premier of the State Council of China.
Bithumb Suspends TIA Deposits and Withdrawals
Bithumb announced a temporary suspension of TIA deposits and withdrawals due to wallet system maintenance.
US Stock Indices Close Mixed
US stock indices closed mixed.
S&P500: +0.02%
Nasdaq: +0.33%
Dow: -0.14%
