JH Kim

On the 24th (local time), Sui (SUI) announced via its official X (formerly Twitter) account that it has launched the full beta service for the 'gRPC' protocol, which supports high-speed blockchain data access. Sui stated, "gRPC is the latest API (Application Programming Interface) protocol that will revolutionize how data is accessed within the Sui ecosystem," adding that "it will gradually replace the existing JSON-RPC." They further added, "We will support developers to access the Sui blockchain more quickly and efficiently."

According to Bloomberg on the 24th (local time), MicroStrategy, the world's largest publicly traded holder of Bitcoin (BTC), plans to significantly increase its fundraising goal for acquiring additional BTC from $500 million (approximately ₩690 billion) to $2 billion (approximately ₩2.7 trillion). This fundraising effort will be carried out through the issuance of convertible bonds, and most of the funds raised are expected to be used for BTC acquisition. Meanwhile, as of 03:07 on the 25th, BTC was trading at $119,302 on the Binance Tether (USDT) market, up 0.95% from the previous day.

Bitcoin (BTC) temporarily lost the $119,000 level. Meanwhile, as of 01:20 on the 25th, BTC is trading at $118,870.50 on the Binance Tether (USDT) market, up 0.88% from the previous day.

On the 24th (local time), according to the digital asset (cryptocurrency) media outlet The Block, the global digital asset exchange Kraken officially announced that it will integrate the INK token and Ink Layer 2 Network into its core product suite. This is being carried out as part of 'Kraken Drops,' an airdrop program for Kraken users, and aims to increase the utilization of on-chain-based infrastructure. The implementation of INK is regarded as part of Kraken’s strategy to break down the boundaries between traditional centralized finance and decentralized finance (DeFi) and to establish a new unified financial infrastructure. The INK token is designed not as a speculative tool but to maximize network usage, and does not include governance functionality. Instead, it will be primarily used to provide liquidity to native applications (lending, trading, etc.) and to incentivize user participation. Arjun Sethi, Kraken's Co-CEO, explained, "INK will help align infrastructure and standardize value transfer between on-chain and off-chain users," adding, "It will play an important role in Kraken’s trading and payment systems."

On the 24th (local time), Cointelegraph, a media outlet specializing in virtual assets (cryptocurrencies), reported, citing analysts, that Ethereum (ETH), having regained the $3,600 level, has a high probability of further increase. The outlet stated, "Looking at the ETH/Bitcoin (BTC) exchange inflow ratio, the selling pressure for Ethereum is relatively lower than that for Bitcoin," and added, "Such a trend suggests the possibility of ETH/BTC ratio continuing to rise." They further explained, "The ratio of ETH/BTC ETF holdings has also increased from 0.02 in May to 0.12 currently, further supporting Ethereum's strong performance," and noted, "The first major resistance level is around $4,500."

According to Cointelegraph, a cryptocurrency-focused media outlet, on the 24th (local time), Solana (SOL) announced a mid-to-long-term strategic roadmap to develop its blockchain into the foundational infrastructure for the global Internet Capital Market (ICM) by 2027. The roadmap stated that "market microstructure is currently the most important challenge facing Solana," and "various architectural improvements to address this are included." Over the next three months, Solana is planning to launch the Block Assembly Marketplace (BAM) for Jito (JTO), its transaction processing system. In the longer term, Solana will also introduce DoubleZero, a dedicated P2P Piper network for the Solana ecosystem. This new system is designed to replace the existing public Internet to dramatically improve the speed and efficiency of transaction processing based on Solana.

Bitcoin (BTC) temporarily gave up the $118,000 level. Meanwhile, as of 05:27 on the 24th, BTC is trading at $117,999 on the Binance Tether (USDT) market, down 1.48% from the previous day.

World Liberty Financial (WLFI), a cryptocurrency project associated with the Trump family, has purchased an additional 560.71 Ethereum (ETH). On the 23rd (local time), blockchain analytics firm OnchainLenz announced via its official X (formerly Twitter), "The average purchase price for this acquisition was $3,567." Meanwhile, as of 03:18 on the 24th, ETH is trading at $3,593.51 on the Binance Tether (USDT) market, representing a 2.62% decrease from the previous day.

Bitcoin (BTC) temporarily recovered the $118,000 mark. Meanwhile, as of 02:59 on the 24th, BTC is trading at $118,044.80 on the Binance Tether (USDT) market, down 0.96% from the previous day.

On the 23rd (local time), on-chain analytics platform CryptoQuant announced via its official X (formerly Twitter) that "last week, Ethereum (ETH) spot trading volume reached $25.7 billion, surpassing Bitcoin (BTC)'s $24.4 billion." CryptoQuant stated, "For the first time in over a year, Ethereum's spot trading volume has exceeded that of Bitcoin," and analyzed that "this suggests that investor capital is flowing into Ethereum and altcoins." Meanwhile, as of 01:50 on the 24th, based on the Binance Tether (USDT) market, Ethereum is trading at $3,580.24, down 3.89% from the previous day.

According to CoinDesk, a cryptocurrency-focused media outlet, on the 22nd (local time), the cryptocurrency exchange Kraken will handle trading, custody, and over-the-counter (OTC) transactions related to Binance Coin (BNB) for the Nasdaq-listed biotechnology company Windtree (WINT). Windtree is planning to raise up to $200 million for investment in BNB and has currently secured about $60 million. The company also has an option to raise an additional $140 million going forward.

According to cryptocurrency-focused media outlet CoinDesk on the 22nd (local time), the decentralized prediction market Polymarket is reportedly considering issuing its own stablecoin. It appears the intention is to directly manage the reserves backing the stablecoin in order to capture the associated profits. There are also discussions underway about sharing profits with Circle based on the amount of USDC deposited on the platform.

James Seyffart, a Bloomberg analyst, stated on the 22nd (local time) via his X (formerly Twitter) account that a "positive indicator has been detected" regarding the spot redemption approval of Bitcoin (BTC) and Ethereum (ETH) spot exchange-traded funds (ETFs). He explained, "Five ETFs listed on the Chicago Board Options Exchange (CBOE) have submitted amended documents to the U.S. Securities and Exchange Commission (SEC)," adding, "This is evidence that positive progress is being made within the SEC." He further noted, "It appears that the process has entered the detailed coordination phase." Spot redemption is a method where ETF investors are repaid not in cash but in actual virtual assets (cryptocurrencies), which is considered advantageous in terms of market efficiency and taxation.

According to The Block, a media outlet specializing in digital assets (cryptocurrency), as of the 22nd (local time), USDC deposits on the decentralized perpetual futures exchange (DEX) Hyperliquid (HYPE) have more than doubled since the beginning of the year, reaching $4.9 billion. Hyperliquid has adopted USDC as its primary stablecoin instead of Tether (USDT), and in July, the trading volume on the platform reportedly surpassed $150 billion.

Bitcoin (BTC) briefly recovered the $119,000 level. Meanwhile, as of 00:24 on the 23rd on the Binance Tether (USDT) market, BTC is trading at $119,047.54, up 0.02% from the previous day.