Crypto Market Continues to Decline This Morning, Ethereum Barely Holds Above $4,100, Bitcoin Drops Below $113,000

On August 20, according to market information, the crypto market continued to decline last night and this morning. Ethereum dropped to around $4,100, currently priced at $4,107.89, with a 24-hour decline of 2.02%. Bitcoin broke below $113,000, currently priced at $112,895.92, with a 24-hour decline of 0.78%. On the news front, the main negative factors may come from the US stock market decline and international macroeconomic uncertainty: On Tuesday's stock market close, the Dow Jones slightly rose, the S&P 500 fell 0.58%, and the Nasdaq fell 1.46%. The resurgence of the Russia-Ukraine conflict and market expectations that Powell's speech may crush the 50 basis point rate cut expectation are among the factors.

Ahead of Jackson Hole Conference, Traders Bet on Aggressive Fed Rate Cut

Traders are massively entering a specific option bet that the Federal Reserve will significantly cut rates by more than 25 basis points next month. Since the beginning of this month, demand for positions related to the overnight secured financing rate (SOFR), closely tied to policy expectations, has been strong. This week, traders have again increased this bet, with outstanding contracts for a 50 basis point rate cut sharply rising. In a few days, Federal Reserve Chairman Powell will deliver a key speech at Jackson Hole. Previously, US inflation data exceeded expectations, causing some traders to lower rate cut expectations. Despite a short-term pullback, traders seem to still believe in a rate cut next month. On Tuesday, US Treasury bonds ended three days of selling, with yields across all maturities falling. Ian Lyngholm, Head of US Rate Strategy at BMO Capital Markets, stated: "As the market prepares for Powell's speech, the biggest risk for US Treasuries is the Fed Chairman potentially throwing cold water on the widely expected September rate cut."

Whale Sells 11,575 ETH in Past Two Days, Total Value of $51.4 Million

On August 20, according to Onchain Lens, since yesterday, this whale has sold an additional 8,500 ETH. Overall, the whale sold 11,575 ETH at a price of $4,440, with a total value of $51.4 million. The whale still holds 6,710 ETH, valued at $27.6 million.

Ark Invest Purchased Robinhood Stocks Worth Approximately $16.22 Million Yesterday

On August 20, according to Ark Invest Daily, Cathie Wood's Ark Invest purchased 150,908 Robinhood shares yesterday, valued at approximately $16.22 million based on the closing price.

Machi Big Brother Huang Licheng's Long Positions Suffer Unrealized Loss of $13.68 Million

On August 20, according to Onchain Lens, with the market decline, Machi Big Brother Huang Licheng's long positions face an unrealized loss of $13.68 million. His current largest position is a 25x Ethereum long position, with a position value of $98.98 million, an unrealized loss of $11.85 million, and a liquidation price of $3,115.

Data: Today's Fear and Greed Index Drops to 44, Entering "Fear State"

According to Alternative.me data, today's cryptocurrency Fear and Greed Index has dropped to 44 (yesterday it was 56), indicating that the market has entered a "fear state".

Bitcoin DeFi Protocol Lombard to Launch Community Round Token Sale on Buidlpad, Valued at $450 Million

On August 20, according to official sources, Bitcoin DeFi protocol Lombard will launch a community round token (BARD) sale on Buidlpad, valued at $450 million. Sale details are as follows: Total sale amount: $6,750,000; BARD allocation: 1.5% of total supply; Unlock: Fully unlocked and vested at TGE; Investment range: $50 to $5,000; Payment tokens: USD1, LBTC, BNB. The sale will be held from August 26 to September 4, 2025. Lombard has raised a total of $17 million, with investors including Polychain Capital, YZi Labs, and others.

SEC Chairman: Only a Small Portion of Crypto Tokens Should Be Viewed as Securities

On August 20, US Securities and Exchange Commission Chairman Paul Atkins stated at the SALT Wyoming Blockchain Symposium that only a small portion of crypto tokens should be viewed as securities, marking a shift from the previous stance under Gary Gensler's leadership.

Network-wide Liquidations of $532 Million in Past 24 Hours, Ethereum Largest Liquidated Cryptocurrency

On August 20, according to Coinglass data, network-wide liquidations reached $532 million in the past 24 hours, with Ethereum liquidations accounting for $199 million, making it the largest liquidated cryptocurrency. Long position liquidations totaled $460 million. Globally, 148,745 people were liquidated, with the largest single liquidation occurring on Binance - BTCUSDT at $9.695 million.

US Banking Regulators to Address Stablecoin Regulatory Rules Across States

On August 20, the US Stablecoin Certification Review Committee will determine whether state frameworks are "substantially similar" to the federal stablecoin issuance system. Led by the Treasury Secretary and including the Federal Reserve Chairman and FDIC Chairman, the committee must reach a consensus to allow state jurisdictions to receive federal government approval for stablecoin regulation. The "GENIUS Act" aims to simplify state-level regulation, with Gavin Meyers, Financial Services Regulatory Partner at Pierson Ferdinand LLP, stating that the act is expected to reduce regulatory confusion across states.

Franklin Templeton CEO: Crypto Investment Should Focus on Infrastructure, Not Bitcoin

On August 20, Jenny Johnson, CEO of Franklin Templeton with $1.6 trillion in assets under management, stated at the SALT conference in Jackson Hole, Wyoming, that Bitcoin is a "fear currency" and distracts from the true potential of blockchain. She believes the most worthwhile investment in the crypto space is blockchain infrastructure, including blockchain networks, consumer applications, and node validators. Johnson anticipates that mutual funds and ETFs will gradually operate on blockchain, but regulatory risks remain the biggest obstacle to this transformation. She emphasizes that the transparency provided by validators could be a "game-changer" for active investment managers.

Ethereum Giants Invest Billions to Conquer Wall Street: A Battle for a New Financial Order

Crypto supporters celebrated Ethereum's 75% price surge at the "NextFin NYC" conference, claiming it will reshape the future financial system. Companies like BitMine are hoarding Ethereum (worth over $6 billion), believing its smart contract platform will attract Wall Street. Despite competition from Solana and private blockchain challenges, supporters believe enterprise reserves and staking mechanisms will drive demand, while critics warn that corporate selling could exacerbate market volatility. Institutions like Standard Chartered Bank have raised Ethereum's target price to $7,500.

After Monero, Dogecoin Becomes Next 51% Attack Target for Qubic

After gaining majority hashrate on Monero, the Qubic community voted to target Dogecoin for a 51% attack. The previous attack on Monero forced Kraken to suspend deposits, raising concerns about PoW security. Qubic's founder claims the move aims to redirect hashrate to AI purposes, but experts disagree on whether they can fully control the network. As a top-10 market cap cryptocurrency, a potential attack on Dogecoin could cause market turbulence.

Ethereum's "4 Billion" Withdrawal Wave: Whales Turn Around, Not Retail Investors Fleeing

The record-breaking Ethereum validator exit queue of 91,000 ETH (approximately $4 billion) was primarily driven by Coinbase and Lido, with the former withdrawing 430,000 ETH due to business restructuring, and the latter continuously rotating validators for technical upgrades. Ethereum's "withdrawal limit" mechanism ensures only about 115,000 ETH can exit daily, with limited market impact. This event is a planned institutional adjustment, not market panic, and the actual liquidity impact is controllable.