Son Min

Japan-listed S-Science (S-Science Co Ltd) appears to have made its first Bitcoin (BTC) purchase. On the 1st (local time), BitcoinTreasury said on X (formerly Twitter), "S-Science bought 30.74BTC for the first time." As of 11:08 PM, Bitcoin was trading at 109,168 dollars on the Binance USDT market, up 0.84% from 24 hours earlier.

UK-listed Satsuma Technology appears to have secured an additional 22 Bitcoin (BTC). On the 1st (local time), according to crypto-specialized channel NLNico, Satsuma said in a press release, "We secured an additional 22.65BTC," and "Total Bitcoin holdings have reached 1148.65 coins." As of 10:27 PM, Bitcoin on the Binance USDT market is trading at $109500, up 1.08% from 24 hours earlier.

A beauty franchise operator listed on the Tokyo Stock Exchange, 'Konbano', was reported to have purchased 155 Bitcoin (BTC). On the 1st (local time), BitcoinTreasury said on X (formerly Twitter), "Konbano has additionally purchased 155 Bitcoin," saying, "Accordingly, the company's Bitcoin holdings amount to a total of 519.92." This purchase put Konbano at 56th in the ranking of Bitcoin holdings among listed companies.

Trading of World Liberty Financial (WLFI) tokens, a decentralized finance (DeFi) project of U.S. President Donald Trump's family, has begun and is drawing market attention. On the 1st (local time) at 22:00 (KST), trading of WLFI began on global virtual asset (cryptocurrency) exchange Binance and is showing an upward trend. On Binance's USDT market, WLFI traded at 0.3 dollars, up 50% from the listing price. On Upbit, it traded at 445 won, up 14% from the listing price. WLFI drew strong interest even before listing. According to Glassnode data, World Liberty Financial's open interest ahead of the listing reached 887,000,000 dollars, a 45% surge from the previous day. Trading volume jumped 535% from the previous day, recording 4,540,000,000 dollars. Meanwhile, circulating supply after listing was reported as 24,670,000,000 units. Total supply is 100,000,000,000 units.

A Bitcoin (BTC) conference organized by the El Salvador government is scheduled to be held. On the 1st (local time), SolidIntel said on X (formerly Twitter), "The El Salvador government plans to hold a Bitcoin conference," calling it "the world's first government-hosted Bitcoin event." As of 9:49 PM, Bitcoin was trading at 109,060 dollars on the Binance USDT market, up 0,61% from 24 hours earlier.

Swedish-listed company Gubit Group has purchased 1 Bitcoin (BTC). On the 1st (local time), according to Bitcoin Treasury, Gubit Group purchased 1.02BTC. The total Bitcoin it holds is 11.65 BTC. As of 9:45 PM, Bitcoin on the Binance USDT market is trading at 108,977 dollars, up 0.54% from 24 hours earlier.

Decentralized futures exchange Hyperliquid (HYPE) recorded its highest monthly volume on record. On the 1st (local time), Centora (formerly IntoTheBlock) reported that Hyperliquid's monthly futures volume was 398 billion dollars. This is the largest monthly figure on record. Meanwhile, Arthur Hayes, BitMEX co-founder, had forecast that the "Hyperliquid token" could rise by up to 126 times.

Michael Saylor, Strategy founder, argued the importance of holding Bitcoin (BTC). On the 1st (local time), Saylor said on X (formerly Twitter), "The person who holds more Bitcoin is the winner." Meanwhile, the market is waiting for Strategy's announcement of Bitcoin purchases. Earlier, he posted a 'Saylor Tracker chart', hinting at additional Bitcoin (BTC) purchases.

A claim has emerged that most of the volatility in the virtual asset (cryptocurrency) market is generated by Binance. On the 1st (local time), a contributor to ArabChain CryptoQuant said in a report, "Most of the volatility in the virtual asset market comes from Binance," adding, "Price direction was often determined by increases or decreases in Binance's momentum." He went on to say, "Surges in Binance momentum sometimes appear before market rises." He also predicted a new bull market. The analyst said, "The current upside momentum from exchange-traded funds (ETFs) is not having a major impact on the market," and, "If ETF momentum rises, an institution-led bull market will begin again."

Over the past week, Etena (ENA)'s fees have increased significantly. On the 1st (local time), Satoshi Club said on X (formerly Twitter), "Etena earned 36 million dollars over the past week," and said, "This is the third-highest level by protocol fees." As of 7:27 PM, on the Binance USDT market, Etena is trading at 0.6410 dollars, down 4% from 24 hours ago.

Tron (TRX) active address count was reported to rank first among all blockchains. On the 1st (local time), Lookonchain stated on X (formerly Twitter), "Tron's active address count recorded 2.48 million," adding, "this is the first among all blockchains." The second place was taken by BNB Smart Chain (BSC), at about 2.28 million. Solana (SOL) and Base (BASE) followed with 2.18 million and 1 million, respectively.

Last week, global crypto asset (cryptocurrency) investment products saw inflows of 2.48 billion dollars (3.4536 trillion won). On the 1st (local time), CoinShares said in a report, "Crypto asset investment products saw inflows of 2.48 billion dollars last week," adding, "In August alone, inflows totaled 4.37 billion dollars." Year-to-date inflows approached 35.5 billion dollars. The report analyzed, "While inflows were generally strong, they turned negative on the 29th," attributing this to "July's core Personal Consumption Expenditures (PCE) exceeding inflation, which lowered expectations for rate cuts." By asset, Ethereum (ETH) products recorded the largest net inflows at 1.4194 billion dollars. Over the past month, as much as 3.95 billion dollars flowed in. Bitcoin (BTC) saw inflows of 748 million dollars; however, on a one-month basis it recorded net outflows of 301 million dollars. The report assessed, "Ethereum continues to outperform Bitcoin." Major altcoins also showed a strong trend. XRP and Solana (SOL) recorded net inflows of 134 million dollars and 177 million dollars, respectively. The surge in inflows is attributed to growing expectations for a spot exchange-traded fund (ETF) in the United States. By country, inflows from the United States were strong. U.S.-based crypto products alone saw net inflows of about 2.29 billion dollars, while Switzerland, Germany, and Canada recorded inflows of 109.4 million dollars, 69.9 million dollars, and 410.1 million dollars, respectively. By contrast, Sweden recorded a net outflow of 45.2 million dollars.

World Liberty Financial(WLFI)'s derivatives open interest (OI) and trading volume have significantly increased. On the 1st (local time), Cointelegraph reported, "World Liberty Financial's open interest and trading volume surged." According to Glassnode data, World Liberty Financial's open interest rose 45% from the previous day to 887,000,000 dollars. Trading volume jumped 535% from the previous day to 4,540,000,000 dollars. Meanwhile, World Liberty Financial has been attracting significant attention as major virtual asset (cryptocurrency) exchanges such as Binance announced listings.

An analysis has emerged that the initial circulating supply of tokens for World Liberty Financial (WLFI), the DeFi project of U.S. President Donald Trump and his family, is estimated at 6.4 billion. On the 1st (local time), an Amber CN cryptoasset analyst said on X (formerly Twitter), "WLFI's initial circulating supply is estimated at 6.4 billion," adding, "this is about 6.4% of the total supply." The figure is the sum of 20% (3.4 billion WLFI) of the 16.9 billion WLFI sold during the presale that could be immediately released to the market and the initial liquidity provision of 3 billion tokens. Meanwhile, WLFI's total supply is reported to be 100 billion tokens.

Ethereum (ETH) could rise 100-fold. On the 1st (local time), according to Cointelegraph, Joseph Rubin, co-founder of Ethereum (ETH), said, "Wall Street will adopt staking and decentralized finance (DeFi), and as a result Ethereum could rise 100-fold." He added, "Ethereum could overtake Bitcoin (BTC)." As of 4:35 p.m., on the Binance USDT market, Ethereum is trading at 4426 dollars, down 0.54% from 24 hours earlier.

An analysis said Bitcoin (BTC) may fall further. On the 1st (local time), Matrixport said in a report, "Bitcoin has returned to the 106,000 dollars~108,000 dollars range," and "Bitcoin may fall further." It also forecasted, "Due to seasonal factors and uncertainty over interest rate cuts, price volatility will increase further." As of 4:10 PM, based on the Binance USDT market, Bitcoin is trading at 108,113 dollars, down 0.63% from 24 hours earlier.

Bitcoin commentator and economist Peter Schiff (Peter Schiff) reiterated that Bitcoin (BTC) is not digital gold. On the 1st (local time), Peter Schiff said via X (formerly Twitter), "(amid economic uncertainty) gold has reached an all-time high," and said, "if Bitcoin were digital gold, it could not be priced 13% below its all-time high." He continued, "Despite support from the U.S. government and corporate buying, Bitcoin's price remains low," and said, "this is because Bitcoin cannot store value." Meanwhile, on the 29th (local time) at the New York Mercantile Exchange, international gold futures closed at $3530.70 per ounce, setting a record closing high.

Over the past 24 hours, position liquidations in the perpetual futures market for virtual assets (cryptocurrencies) were recorded at 230,840,000 dollars. On the 1st (local time), according to CoinGlass data, a total of 230,840,000 dollars worth of futures positions were liquidated in the virtual assets market over the past 24 hours. Specifically, long positions worth 191,700,000 dollars were liquidated, and short positions worth 39,140,000 dollars were liquidated. The asset with the largest liquidation amount was Ethereum (ETH). Ethereum saw 57,160,000 dollars of position liquidations over 24 hours, of which long and short positions were respectively 4,360 dollars and 13,560,000 dollars. Bitcoin (BTC) saw 33,610,000 dollars disappear during the same period. Long and short position liquidation amounts were approximately 29,690,000 dollars and 3,920,000 dollars, respectively. As of 3:07 PM, on the Binance USDT market, Bitcoin and Ethereum were down 1.04% and 1.71% respectively compared to 24 hours earlier, trading at 107,637 dollars and 4,376 dollars, respectively.

Whale investors have amassed 340 million XRP over the past two weeks. It is about 1 trillion won in value. On the 31st (local time), crypto analyst Ali Martinez said on X (formerly Twitter), "Whales bought 340 million XRP over the past two weeks." That amounts to $965.6 million (1.3438 trillion won) at current XRP prices. As of 5:53 PM, on the Binance USDT market, XRP is trading at $2.84, up 0.9% from 24 hours earlier.

Crypto Now Ethereum down 7% over the week Solana·Ripple also down 2, 7% "If U.S. rate cuts in September, funds will flow in" Despite the recent decline in altcoins, forecasts that a rally will arrive are gaining traction. This is as expectations grow for a rate cut by the U.S. central bank (Fed). According to the crypto market tracking site CoinMarketCap on the 31st, Ethereum, a leading altcoin, traded at 4445 dollars, down 7% over the past week. Solana and Ripple also fell 2% and 7%, respectively, over the same period. However, the market still expects a bullish phase for altcoins. The main background is the possibility of a Fed rate cut in September. According to FedWatch, the probability that the Federal Reserve will cut rates by 0.25% percentage point in September is 86%. The U.S. personal consumption expenditures (PCE) price index for July, released on the 29th, also matched expectations (2.6%), increasing the possibility of a rate cut. U.S. President Donald Trump dismissing Fed Governor Lisa Cook, bringing him one step closer to gaining control over Fed decision-making, also had an impact. Coinbase said in a report, "With a Fed rate cut expected in September, capital inflows into risk assets are likely to expand," and added, "an alt season could begin in earnest." Crypto analyst Kevin Svenson also said, "If the Fed cuts rates, prices of altcoins including Ethereum will surge rapidly." Investors are also paying attention to a market rebound. According to on-chain analytics firm Glassnode, the open interest (OI) in perpetual futures for altcoins was about 61.7 billion dollars on the 25th, marking a record high. On the 28th, the Chicago Mercantile Exchange (CME) also saw the open interest for Ethereum, Solana, and Ripple each hit record highs. This means liquidity and attention are rapidly pouring into the altcoin market. Merlijn Mertens, a crypto analyst, argued, "Market liquidity is currently moving from Bitcoin to altcoins," and "if this flow is ignored, investors will ultimately be forced to chase the rally late." Son Min, Bloomingbit reporter sonmin@bloomingbit.io

<Next week's major economic schedule> ▶︎1 (Mon) : △U.S. stock market closed (Labor Day), South Korea August trade balance (Korean time 09:00, U.S. time 31 20:00) ▶︎2 (Tue) : △South Korea August consumer price index (Korean time 08:00, U.S. time 1 19:00) △European Union (EU) August consumer price index (Korean time 18:00, U.S. time 05:00) △U.S. August manufacturing Purchasing Managers Index (Korean time 22:45, U.S. time 09:45) △U.S. August ISM manufacturing purchasing managers index (Korean time 23:00, U.S. time 10:00) ▶︎3 (Wed) : △South Korea Q2 GDP (Korean time 08:00, U.S. time 2 19:00) △U.S. July Job Openings and Labor Turnover report (Korean time 23:00, U.S. time 10:00) ▶︎4 (Thu) : △U.S. August ADP nonfarm employment (Korean time 21:15, U.S. time 08:15) △U.S. initial jobless claims (Korean time 21:30, U.S. time 08:30) △U.S. August services Purchasing Managers Index (Korean time 22:45, U.S. time 09:45) △U.S. August ISM non-manufacturing purchasing managers index (Korean time 23:00, U.S. time 10:00) ▶︎5 (Fri) : △U.S. crude oil inventories (Korean time 01:00, U.S. time 4 12:00) △U.S. August average hourly earnings (Korean time 21:30, U.S. time 08:30) △U.S. August nonfarm payrolls (Korean time 21:30, U.S. time 08:30) △U.S. August unemployment rate (Korean time 21:30, U.S. time 08:30) <Next week's major cryptocurrency schedule> ▶︎1 (Mon) : △MultiversX (EGLD) community town hall AMA △StarkNet (STRK) v0.14.0 release ▶︎2 (Tue) : △Etena (ENA) 40.63 million ENA tokens unlock ▶︎3 (Wed) : △Ondo Finance (ONDO) team announcement ▶︎4 (Thu) : ▶︎5 (Fri) : △Immutable X (IMX) 24.52 million IMX tokens unlock

MetaPlanet, regarded as a strategy in Japan, is said to be experiencing difficulties in raising funds. On the 31st (local time), Bloomberg reported, "Since mid-June, MetaPlanet's stock price has plunged 54%," adding, "the funding mechanism that relied on a rising stock price has reached its limits." It also noted, "The recent pace of Bitcoin (BTC) purchases has also slowed significantly." Accordingly, MetaPlanet is putting all efforts into alternative financing. On the 27th, MetaPlanet announced, "We will issue 555,000,000 new shares to investors outside Japan." This amounts to about $880 million. At the shareholders' meeting to be held on September 1, a decision will be made on whether to issue up to $3.7 billion in preferred shares. The outlet added, "Issuing preferred shares is a very rare case in Japan." Simon Gerovich, MetaPlanet's chief executive officer (CEO), told Bloomberg, "Preferred shares are a defensive device that can attract capital even amid a stock price decline," and emphasized, "These preferred shares will provide a 6% annual dividend, making them an attractive option for investors." Meanwhile, MetaPlanet currently holds 18,991 BTC, ranking 7th among publicly listed companies globally.

An analysis showed that Bitcoin(BTC) investors' realized losses are only 0.6%. 31st(local time) Ali Martinez, a digital asset(cryptocurrency) analyst, said on X(formerly Twitter), "Bitcoin investors' realized losses are only -0.6%." It is interpreted as a sign that despite recent Bitcoin declines, investors are not panic selling. However, whether this will lead to a price rebound is unknown. He said, "Historically, Bitcoin has rebounded when investors' realized losses reached -12%."

The spread of companies hoarding large amounts of virtual assets (cryptocurrencies) could create a situation similar to the subprime mortgage (bad home loan) crisis that triggered the 2008 global financial crisis. On the 31st (local time), Yosif Lupena Milo, CEO, told Cointelegraph in an interview that "companies' hoarding of Bitcoin (BTC) and virtual assets is similar in form to the housing mortgages that caused the 2008 financial crisis," adding, "forced sell-offs by these companies in the future could further deepen the market downturn." He also criticized, "Corporate virtual asset hoarding harbors potential risks in various respects, such as cybersecurity and cash flow generation," and said, "People are designing inherently sound products in dangerous ways."