Son Min

It has been revealed that only 12.7% of Pump.fun (PUMP) private sale investors are still holding their allocated tokens. On the 23rd (local time), Spot On Chain announced via X (formerly Twitter) that "Only 12.7% of Pump.fun private sale investors are still holding their tokens." Among the investors, 31.6% have sold their tokens through decentralized exchanges (DEX), while the remaining 53% have transferred their holdings to other addresses, including centralized exchanges (CEX). Meanwhile, Pump.fun has attracted industry attention for trading below its initial token offering (ICO) price of $0.004. As of 1:38 PM, according to CoinMarketCap, Pump.fun is trading at $0.003768, down 0.26% from the previous day.

An analysis suggests that Bitcoin (BTC) is unlikely to reach $200,000 within this year. On the 23rd (local time), James Check, an analyst at Glassnode, said in an interview with Cointelegraph, "The likelihood of Bitcoin reaching $200,000 this year is low," adding, "This is because there isn't enough buying pressure and trading volume remains at low levels." He explained that it is extremely improbable for Bitcoin’s market capitalization to nearly double in the remaining five months. He also pointed out that there are still many hurdles left to clear. He said, "There are still many thresholds ahead, such as $130,000 and $140,000," emphasizing, "It is also important to observe whether the price can find support during that process. If the price surges too quickly without support, there may be a significant drop afterward." Furthermore, he stated that he will not take long leverage positions until trading volume increases. The analyst said, "I absolutely will not take leveraged positions until there is a clear increase in trading volume," and added, "I will not take risks until market stability is confirmed." However, he emphasized that ultimately, Bitcoin will surpass $200,000. The analyst said, "I am confident that Bitcoin will definitely break through $200,000 within the next five years," adding, "I am investing most of my assets in Bitcoin."

According to Token Mindshare, an index by the AI-based Web3 search platform Kaito that quantifies the influence of specific tokens in the virtual asset market, the top 5 virtual asset-related keywords attracting the most attention on the 23rd are Pump.fun (PUMP), Espresso (ESPRESSO), Kaito (KAITO), USDC (USDC), and Theoriq (THEORIQ). Ranked first is Pump.fun, a meme coin issuance platform based on Solana (SOL). The recent sharp price decline appears to have drawn significant attention. Previously, during its token offering (ICO), Pump.fun raised over $500 million in just 12 minutes, garnering major industry interest; however, the current price is below the ICO price ($0.004). As of 12:06 p.m., Pump.fun is trading at $0.003647 on CoinMarketCap, down 6% from the previous day. Second is the base layer project Espresso. It received significant attention for being selected as the first project on the newly launched 'Kaito Capital Launchpad' the previous day. An ICO has also commenced. The Espresso Foundation plans to sell up to $4 million worth of governance token ESP. Kaito, which launched the new platform 'Capital Launchpad', is ranked third. Capital Launchpad is similar in form to the on-chain virtual asset angel investment platform Echo and aims to support investors in participating in early-stage high-potential projects. The dollar-based stablecoin USDC ranks fourth. The passage of the GENIUS Act, a stablecoin bill in the US, seems to have increased mentions of USDC. Bank of America signed a collaboration with Circle, the issuer of USDC, raising expectations for its inclusion in traditional finance. Additionally, the USDC deposit on the decentralized futures exchange (DEX) Hyperliquid (HYPE) has more than doubled since the beginning of the year, reaching $4.9 billion, which is considered a positive factor. Finally, at fifth place is Theoriq, known for its agent swarm protocol. Theoriq garnered attention by announcing a $1 million reward program for Theoriq Yappers. Previously, Theoriq had also promised a $1 million reward to Kaito stakers.

Taiko (TAIKO), the first based rollup project in the Ethereum (ETH) ecosystem, has signed a partnership with Dune Analytics, a virtual asset (cryptocurrency) data analytics platform. On the 23rd (local time), Taiko announced via its official X (formerly Twitter), “We have entered into a partnership with Dune Analytics. Key on-chain ecosystem metrics will be made available in real time.” According to the main metrics disclosed through this partnership, Taiko has so far recorded over 856 million transactions, 2.2 million unique wallet addresses, and approximately 150,000 daily active users. Since the launch of its mainnet in May, the ecosystem is regarded to have expanded rapidly. In particular, Taiko has stood out in on-chain gaming. The cumulative number of transactions for World of Dypians (an MMORPG game) reached 52 million, with the number of users and daily active users reaching approximately 615,000 and 22,000, respectively. In addition, Brigade and Intraverse have also been seeing continued growth in their user base. Dune commented, “Taiko shows strong on-chain activity and serves as a hub especially in areas like on-chain gaming,” further describing it as “a blockchain that maintains L1-grade security and censorship resistance while significantly lowering fees through ZK (zero-knowledge)-based scalability.” Meanwhile, Taiko plans to use this collaboration to enhance transparency and accessibility within the on-chain ecosystem and is working to create a real-world success story for the Layer-2 (L2) model, particularly focused on on-chain gaming.

Strike (STRIKE), which is set to be delisted from Korean virtual asset (cryptocurrency) exchanges such as Upbit and Bithumb, is showing a steep rise. According to Upbit on the 23rd (local time), at 10:56 AM, Strike was trading at ₩26,280, up 43.92% from the previous day. This marks an astonishing 268% surge over the past two days. This appears to be a case of a 'delisting beam' phenomenon, where the price surges ahead of delisting. Strike is scheduled to be delisted from Korean exchanges on August 21. Accordingly, investors are advised to exercise caution with this asset. Significant price differences from global market rates or participation in phenomena such as the 'delisting beam' can result in substantial losses.

World Liberty Financial (WLFI), the DeFi project associated with the Trump family, has reportedly made an additional purchase of 1,740 Ethereum (ETH). On the 23rd (local time), on-chain analyst ai_9684xtpa stated on X (formerly Twitter), "World Liberty Financial has bought an additional 1,740 ETH ($6,500,000)," and added, "In the past 6 days, three addresses related to World Liberty Financial have purchased a total of 5,608 ETH ($19,360,000)." The average purchase price was $3,469, and they are currently recording an unrealized profit of $1,450,000.

Binance Coin (BNB) has reached a new all-time high (ATH). According to Binance on the 23rd (local time), BNB hit $799.44, marking its highest value ever. As of 9:28 PM, based on the Binance USDT market, BNB is trading at $797.82, up 3.79% from 24 hours ago.

The Virtual Asset (cryptocurrency) Fear & Greed Index rose by 2 points compared to the previous day, showing signs of investor sentiment recovery. The Fear & Greed Index is an indicator reflecting market psychology; the closer to 0, the more extreme the fear, and the closer to 100, the more extreme the greed. On the 23rd (local time), the Fear & Greed Index provided by the virtual asset analysis firm Alternative is currently at 74 out of a possible 100 points, maintaining the 'Greed' phase. The index increased by 2 points from the previous day’s score of 72, indicating a recovery in market sentiment. As of 9:10 AM, based on the Binance USDT market, Bitcoin (BTC) is trading at $118,879, up 0.88% from 24 hours ago. The Fear & Greed Index is calculated based on factors such as volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search volume (10%).

The U.S. Securities and Exchange Commission (SEC) has reportedly reversed its approval for the conversion of the Bitwise 10-Crypto Index Fund into an exchange-traded fund (ETF). According to The Block on the 22nd (local time), Sherry R. Haywood, an Assistant Secretary at the SEC, stated, "The Commission will conduct a review of the approval for the ETF conversion of the Bitwise 10-Crypto Index Fund," and added, "This action will be postponed until further order is given." Previously, the SEC had made a swift approval decision regarding the ETF conversion of the Bitwise Index Fund. Nate Geraci, CEO of The ETF Store, commented, "Like the Grayscale Digital Large Cap ETF, the approval order was issued and then delayed," and said, "It is truly strange. Both ETFs should be allowed to be listed." Meanwhile, the Bitwise 10-Crypto Index Fund includes major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP (XRP), Sui (SUI), and Cardano (ADA).

The weekly virtual asset (cryptocurrency) trading volume of U.S. publicly traded companies that hold cryptocurrencies has approached $41.1 billion. On the 22nd (local time), Unfolded announced on X (formerly Twitter), "The weekly virtual asset trading volume of U.S. publicly traded companies has come close to $41.1 billion," adding, "This is the highest level in seven months." Notably, companies accumulating Ethereum (ETH), centered around SharpLink Gaming and BitMine, accounted for 34% of the total trading volume.

The virtual asset (cryptocurrency) manager 21Shares has reportedly submitted an application (S-1) for an Ondo Finance (ONDO) Exchange Traded Fund (ETF). On the 23rd (local time), James Seyffart, a Bloomberg ETF analyst, stated on X (formerly Twitter) that "21Shares has submitted the Ondo Finance application documents to the U.S. Securities and Exchange Commission (SEC)." As of 6:47 PM, Ondo Finance is trading at $1.06 on the Binance USDT market, down 2.96% from 24 hours ago.

A large amount of Ethereum (ETH) has been registered in the unstaking queue, which could increase selling pressure, according to analysis. On the 22nd (local time), BeInCrypto reported that crypto analyst Woody Wertheimer stated, "Currently, 350,000 ETH (approximately $1.3 billion) is waiting to be unstaked." He continued, "This is the first time since January last year that such a large amount of Ethereum is being unstaked," adding, "At that time, Ethereum showed a downward trend after the unstaking event." In fact, right after about 500,000 ETH was unstaked in January last year, Ethereum surged to $4,000, then declined to the $2,100 level. The media outlet noted, "Large-scale unstaking may indicate a potential increase in selling pressure." It also said, "Especially since Ethereum has risen more than 160% from its low in April, more investors may move to realize their profits."

The Virtual Asset (Cryptocurrency) Fear & Greed Index rose by 1 point compared to the previous day, showing signs of investor sentiment recovery. The Fear & Greed Index is an indicator representing market sentiment: the closer it is to 0, the more extreme the fear; the closer to 100, the more extreme the greed. On the 22nd (local time), the Fear & Greed Index provided by the virtual asset analytics company Alternative maintained the 'Greed' stage at 72 out of 100 points. The index rose by 1 point from the previous day’s 71 points, indicating signs of sentiment recovery in the market. As of 11:22 PM, Bitcoin (BTC) is trading at $118,334 on the Binance USDT market, up 0.61% compared to 24 hours ago. The Fear & Greed Index is calculated based on criteria such as volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search volume (10%).

Analysis shows that Sui (SUI) perpetual futures open interest (OI) has approached its all-time high. On the 22nd (local time), Glassnode stated on X (formerly Twitter), "The amount of Sui futures open interest has reached $1.2 billion, nearing its all-time high." This ranks sixth among all virtual assets (cryptocurrencies) based on open interest. As of 11:07 PM, Sui is trading at $3.869 on the Binance USDT market, down 4.05% compared to 24 hours ago.

Nano Labs, a Nasdaq-listed semiconductor manufacturer specializing in mining, has disclosed its reserves of Binance Coin (BNB). On the 22nd (local time), Nano Labs announced via X (formerly Twitter), "We currently hold 120,000 BNB worth about $90 million," adding, "The average purchase price per coin is $707." The company further stated that it "plans to strengthen its BNB accumulation strategy." Previously, Nano Labs had issued convertible bonds worth $500 million for strategic BNB reserves. Meanwhile, as of 10:53 PM, BNB is trading at $790, down 1.90% from 24 hours ago on the Binance USDT market.

Skycorp Solar Group, a solar energy company listed on NASDAQ, will participate in the reserve of Ethereum (ETH). According to GlobeNewswire on the 22nd (local time), Skycorp announced in a press release that it plans to start a strategic reserve of Ethereum using a portion of its cash holdings and returns from renewable energy investments. In addition, the company plans to adopt cryptocurrencies such as Bitcoin (BTC), Ethereum, USDC, and Tether (USDT) as payment methods for international transactions.

NASDAQ-listed online technology firm SharpLink Gaming has reportedly purchased an additional 79,949 Ethereum (ETH). On the 22nd (local time), SharpLink Gaming announced on X (formerly Twitter), "From the 14th to the 20th, we acquired 79,949 ETH ($259 million)," adding, "The average purchase price was $3,238." They further stated, "We currently hold approximately 360,807 ETH." Additionally, SharpLink Gaming said, "We have $96.6 million remaining as funds for further Ethereum acquisitions," and, "Cumulative staking rewards are close to 567 ETH."

An analysis has been raised that Ethereum (ETH) encountered a strong sell wall near the $4,000 mark. On the 22nd (local time), CoinGlass stated via X (formerly Twitter), "A large-scale sell wall of 68,000 ETH (worth $263 million) has formed between $3,850 and $4,000," and added, "It appears someone is intentionally suppressing the upward trend." As of 9:36 p.m., based on the Binance USDT market, Ethereum is trading at $3,699, down 2.86% compared to 24 hours ago.

The AI-based education company Genius Group has made an additional purchase of Bitcoin (BTC). On the 22nd (local time), Genius Group announced via its official website that "on the 18th (local time), the company made an additional purchase of 20 Bitcoin, bringing its total holdings to 200 units." The average purchase price per BTC was $106,812. They further stated, "Bitcoin's return has reached 186%." Meanwhile, Genius Group has previously announced its target to secure 1,000 BTC by the end of this year and 10,000 BTC within two years.

The altcoin perpetual futures trading volume on the global cryptocurrency exchange Binance has reached its highest level since last February. On the 22nd (local time), Martun, a contributor to CryptoQuant, reported in a statement, "The daily altcoin futures trading volume on Binance recorded $100.7 billion," adding, "This is the highest level since February 3rd (local time)." He further stated, "This accounts for 71% of the total Binance futures trading volume." In particular, it was mentioned that the surge in altcoin trading volume suggests a recovery of market interest. The report noted, "Binance is the exchange most preferred by individual investors," and added, "The sharp increase in altcoin trading volume indicates that individuals are returning to the market."

The Solana (SOL)-based meme coin issuance platform Pump.fun (PUMP) recorded a sharp decline of 15% compared to the previous day. According to CoinMarketCap on the 22nd (local time), PUMP is currently trading at $0.003697, down 15.71% from the previous day. This is below the token offering (ICO) price of $0.004. Previously, Pump.fun garnered significant industry attention by raising over $500 million within just 12 minutes during its ICO.