Son Min

Over the past 24 hours, the position liquidation amount in the virtual assets perpetual futures market was $244.07 million. According to Coinglass data on the 3rd (local time), a total of $244.07 million in futures positions were liquidated in the virtual assets market over the past 24 hours. Specifically, $119.84 million in long positions were liquidated and $124.24 million in short positions were liquidated. The asset with the largest liquidation amount was Ethereum (ETH). Ethereum experienced $68.47 million in position liquidations over 24 hours, of which $42.29 million in long positions and $26.18 million in short positions were liquidated. Bitcoin (BTC) saw $48.47 million disappear over the same period. The liquidation amounts for long and short positions were approximately $21.63 million and $26.85 million, respectively.

Analysts say Dogecoin (DOGE) whales are not showing significant activity. On the 3rd (local time), virtual asset (cryptocurrency) analyst Ali Martinez said on X (formerly Twitter), "Recently, Dogecoin whales have not shown clear buying·activity," adding, "They are presumed to be observing the market sentiment." As of 3:12 PM, on the Binance USDT market, Dogecoin is trading at 0.21 dollars, down 0.02% from 24 hours earlier.

Over the past two days, whales have accumulated 1.25 million Chainlink (LINK). On the 2nd (local time), virtual asset (cryptocurrency) analyst Ali Martinez said on X (formerly Twitter), "Over the past 48 hours, whales sold 1.25 million Chainlink," adding that this amounts to $29.02 million at the current Chainlink price. As of 11:15 PM, Chainlink was trading on the Binance USDT market at $23.22, up 0.56% from 24 hours earlier.

Propan Biopharma, listed on Nasdaq, announced plans to stockpile USD 100 million worth of Ethereum (ETH). On the 2nd (local time), according to GlobeNewswire, Propan said in a press release, "It plans to stockpile USD 100 million worth of Ethereum over the next 12 months." It added, "Ethereum has recorded higher gains compared to traditional assets over the past five years," and said, "it will provide mid- to long-term value to shareholders."

Bitcoin (BTC) has recovered to $110,000. As of 10:41 PM, on the Binance USDT market, Bitcoin is trading at $110,288, up 0.96% from 24 hours earlier.

Nasdaq-listed Tron (Tron Inc.) has reportedly purchased an additional 312 million TRX. On the 2nd (local time), according to GlobeNewswire, Tron said in a press release, "Through the exercise of Brave Morning's warrants (stock purchase rights), it purchased 312.5 million TRX," and "the total value of TRX held has exceeded $220 million." Rich Miller, Tron CEO, said, "Our confidence in the Tron network remains unchanged," and "We will secure growth opportunities in the blockchain sector through TRX reserves."

Hong Kong-listed Yuanfeng Financial has reportedly stocked 10,000 Ethereum (ETH). On the 2nd (local time), Yuanfeng Financial said in a press release, "Using the company's cash holdings, we secured 10,000 ETH," adding, "this is worth about $44 million." Meanwhile, Jack Ma, the founder of Alibaba, is known to be a key partner of Yuanfeng Financial.

Bitcoin (BTC) hashrate has surpassed 1 zettahash (ZH/s) for the first time in history. 1 zettahash is 1000 exahashes (EH/s). On the 2nd (local time), CoinDesk reported, "Bitcoin hashrate has surpassed 1 zettahash (ZH/s) on a 7-day moving average for the first time." Although Bitcoin hashrate has recorded 1 zettahash in the past, this is the first time it has been maintained for an extended period. The outlet said, "With the hashrate surging, Bitcoin mining difficulty is expected to rise by more than 7%," adding, "It is expected to be the second-largest increase this year."

Bitcoin (BTC) fell below $109,000. As of 9:44 PM on the Binance USDT market, Bitcoin is trading at $108,705, down 0.27% from 24 hours earlier.

Nasdaq-listed online technology company SharpLink Gaming has reportedly purchased an additional 39,008 Ethereum (ETH). On the 2nd (local time), SharpLink Gaming said on X (formerly Twitter), "We bought an additional 39,008 ETH" and "The average purchase price is 4531 dollars." It added, "We currently hold about 837,230 ETH." SharpLink Gaming continued, "Unused cash exceeds 716 billion dollars," suggesting further purchases could follow.

Strategy appears to have purchased an additional 4,048 Bitcoin (BTC). It is approximately 627.1 billion won. On the 2nd (local time), Strategy posted on X (formerly Twitter), "We purchased an additional 4048 BTC ($449.3 million)," adding, "The purchase price per 1 BTC is approximately $110,981." It also added, "We have achieved a 25.7% return year-to-date." Strategy currently holds a total of 636,505 BTC. That is approximately $46.55 billion in value, and the average purchase price is $73,765.

Over the past two months, about $10 billion (about 14 trillion won) has flowed into U.S. Ethereum (ETH) spot exchange-traded funds (ETFs). On the 2nd (local time), Unfolded said on X (formerly Twitter), "Since July, about $10 billion has flowed into Ethereum spot ETFs." The total net inflows since launch are $14 billion. As of 8:41 p.m., on Binance's USDT market, Ethereum was trading at $4,373, down 0.43% from 24 hours earlier.

Sequans Communications, a Nasdaq-listed developer of 5G and 4G IoT semiconductors and modules, has reportedly purchased an additional 34 Bitcoins (BTC). On the 2nd (local time), Sequans said on its website, "Purchased an additional 34 BTC ($3.8 million)," and "The average purchase price per BTC was $111,374." Sequans currently holds a total of 3205 BTC. This amounts to about $374 million, with an average purchase price of $116,653.

The ZK rollup-based Ethereum (ETH) Layer 2 network StarkNet (STRK) has reportedly experienced another block production halt. On the 2nd (local time), StarkNet said on X (formerly Twitter), "Another block production halt is occurring," and said, "We are taking action to resolve it." It added, "It may be disappointing, but thank you for waiting." This came about one hour after it announced that block production had normalized. Earlier, StarkNet also experienced a block production halt six hours prior. StarkNet's price is also on the decline. As of 8:25 PM, based on Binance USDT market, StarkNet is trading at 0.1231 dollars, down 1.83% from 24 hours ago.

The BNB Chain-based cryptocurrency lending protocol Venus (XVS) said it was not a protocol hack. On the 2nd (local time), Venus said on X (formerly Twitter), "The protocol was not hacked," and "The smart contract is safe." It added, "A specific user was hacked and damage occurred." Earlier, Venus said an exploit of about $30 million had occurred and is under investigation. Meanwhile, domestic crypto exchange Bithumb suspended Venus's deposit and withdrawal services due to security issues.

Taiko(TAIKO), an Ethereum scaling rollup project, announced on the 2nd that it will join the luxury cultural event 'The Moon Party Seoul (The Moon Party Seoul, hereafter Moon Party)' to be held on September 4 at the Grand Hyatt Seoul. This Moon Party is an art, culture, and technology experience fusion event commemorating the premiere of renowned Chinese artist Huang Yulong's installation 'Upward to the Moon', and global luxury brands such as Maserati, Hypebeast, and Helinox will participate. Taiko will participate as the Moon Party's 'on-chain partner' and plans to provide participants with a special digital experience. For some participants, it will offer the opportunity to mint non-fungible tokens (NFTs) and award special limited-edition prizes. Through this event, Taiko intends to expand blockchain technology from the existing financial sector to the cultural sector by utilizing its proprietary preconfirmation technology-based instant transaction finality infrastructure. Ben Wan, Taiko's Chief Operating Officer (COO), said, "Our preconfirmation technology is fast enough to connect Ethereum with luxury, art, and everyday experiences," adding, "We hope that through this collaboration we can bring all physical assets on-chain."

Over the past 24 hours, position liquidations in the virtual assets (cryptocurrencies) perpetual futures market amounted to 374.94 million dollars. According to CoinGlass data on the 2nd (local time), a total of 337.94 million dollars worth of futures positions were liquidated in the virtual asset market over the past 24 hours. Specifically, long positions totaling 274.33 million dollars were liquidated, and short positions totaling 106.1 million dollars were liquidated. The largest liquidation was recorded for Ethereum (ETH). Ethereum saw 131.98 million dollars in position liquidations over 24 hours, of which long and short positions of 96.72 million dollars and 35.27 million dollars respectively were liquidated. Bitcoin (BTC) saw 54.38 million dollars liquidated during the same period. Long and short position liquidations were about 29.27 million dollars and 25.11 million dollars, respectively.

Last week, whales were reported to have sold 30 million Cardano (ADA). On the 2nd (local time), crypto analyst Ali Martinez said on X (formerly Twitter), "Last week, whales sold 30 million Cardano." This amounts to $24.68 million (approximately 34.4 billion won) based on current Cardano prices. As of 5:29 PM, Cardano was trading at $0.8236 on the Binance USDT market, down 1.48% from 24 hours earlier.

Cryptocurrency-related exchange-traded funds (ETFs) with annual dividend yields exceeding 100% have emerged one after another. It was found that Korean retail investors have been buying them intensively. On the 2nd, according to data from the Korea Securities Depository, Korean retail investors bought about $80 million worth of the 'YieldMax Coin Option Income Strategy' (ticker CONY) ETF over the past month, and $62 million and $58 million worth of the 'YieldMax MSTR Option Income Strategy' (MSTY) and 'ProShares Bitcoin' (BITO), respectively. All were among the top 20 in net purchases. CONY is characterized by employing a covered-call strategy on Coinbase, the largest U.S. cryptocurrency exchange, while MSTY employs a covered-call strategy on MicroStrategy, a Bitcoin investment firm. BITO is a product that invests in Bitcoin futures. In particular, the annual dividend rates for CONY and MSTY are as high as 150~160%. However, since they earn profits by selling call options and the structure can sell principal to provide high dividends, the upside in returns is limited. Even though the stock prices of Coinbase and MicroStrategy have risen more than 22% and 15%, respectively, since the beginning of the year, the high-dividend ETFs' returns have fallen by more than 40%. Securities industry analysts point out that they are not suitable for long-term investment as they are more vulnerable in periods of stock price declines. Jae-hong Jeong, Korea Economic TV reporter

Decentralized futures exchange Hyperliquid (HYPE)'s monthly revenue has reached a record high. On the 2nd (local time), The Block reported, "Last month Hyperliquid's monthly revenue reached $106 million, up 23% from the previous month ($86.6 million)," saying, "this is the largest ever." It added, "Perpetual futures trading volume was about $400 billion." Meanwhile, according to The Block's dashboard, Hyperliquid holds a 70% share of the decentralized futures trading market.

Global Bitcoin (BTC) exchange-traded products (ETPs) are reported to hold an amount equal to 7% of the supply. On the 2nd (local time), Cointelegraph reported that Bitcoin ETPs currently hold more than 1.47 million BTC. This is about 7% of Bitcoin's maximum supply (21 million coins). U.S. spot Bitcoin exchange-traded funds (ETFs) accounted for most of this. According to Hodl15 Capital, U.S. ETFs hold more than 1.29 million BTC. BlackRock's IBIT was the largest at 746,810 BTC, followed by Fidelity's FBTC with about 199,500 BTC. In addition, global Bitcoin ETPs purchased about 170,000 more this year alone.

David Bailey, CEO of Nakamoto, a Bitcoin (BTC) finance company, hinted that BTC could soon reach $150,000. On the 2nd (local time), David Bailey, Nakamoto CEO, said on X (formerly Twitter), "The reason Bitcoin isn't reaching $150,000 is because of two early whales (OG) who have recently been selling their holdings," adding, "If you remove these two, Bitcoin will immediately break through $150,000." He added, "One has already finished (selling), and the other is about half finished." Earlier, crypto asset (cryptocurrency) specialist outlet Cointelegraph reported, "Recently, two early Bitcoin whales have been selling off large portions of their holdings," noting, "On the 24th of last month (local time), one whale address sold about $2.7 billion worth of Bitcoin, and another whale has been selling roughly $4 billion worth of BTC and buying ETH since the end of last month."

Bitcoin (BTC) long-term holders are increasing selling pressure in the market. On the 2nd (local time), CoinDesk reported, "Long-term Bitcoin holders have continued selling in recent weeks," and "On August 29 (local time), they sold 97,000 BTC (about $3 billion), marking the largest single-day sell-off so far this year." The outlet analyzed that selling by long-term holders is an unavoidable trend. CoinDesk said, "There are few assets that trade at $100,000 per unit, so investors taking profits is a natural phenomenon," adding, "It will take time for investors to accept $100,000 as an appropriate price for Bitcoin." It added, "In this process, Bitcoin may show significant volatility around $100,000."

Whale investors have stockpiled 260,000 Ethereum (ETH) over the past two weeks. On the 2nd (local time), Ali Martinez, a virtual asset (cryptocurrency) analyst, said on X(formerly Twitter), "In the past 24 hours, whales bought 260,000 Ethereum." This amounts to 1,142,960,000 dollars (1,590,700,000,000 won) based on the current Ethereum price. As of 3:19 p.m., Ethereum was trading at 4,396 dollars on the Binance USDT market, up 0.18% from 24 hours earlier.

Justin Sun, founder of Tron (TRX), said the Trump family's decentralized finance (DeFi) project would be the best. On the 1st (local time), Justin Sun wrote on X (formerly Twitter), "World Liberty Financial will be the largest and most important project in the history of virtual assets (cryptocurrency)," saying, "the project's long-term vision is very strong." He continued, "I have absolutely no plans to sell the WLFI tokens I hold for the time being," and said, "we plan to increase the circulation of USD1 on the Tron network to $200 million."

The U.S. M2 (broad money supply including cash and deposits) has been reported to have reached an all-time high. On the 1st (local time), Whale Insider said on X (formerly Twitter), "The U.S. M2 money supply recorded 22.12 trillion dollars," stating "this is an all-time high." The expansion of the money supply is known to affect increased demand for Bitcoin (BTC), an inflation hedge.