Ethereum Falls Below $4,700
August 24Breaking
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Bitcoin gives back $113,000
August 24BreakingPudgy Penguins CEO: "Aiming for an IPO within 2 years"
The non-fungible token (NFT) project Pudgy Penguins has expressed its intention to go public (IPO). On the 24th (local time), Luca Netz, CEO of Pudgy Penguins, stated in an interview with the cryptocurrency-focused media outlet Decrypt, "I want to do an IPO within the next 2 years," adding, "If we fail to go public by then, I’ll be disappointed with myself." Pudgy Penguins launched in 2021 as an NFT based on Ethereum (ETH). It is currently making a name for itself by demonstrating its utility as intellectual property (IP) in various areas such as toys, games, and children's books. Netz's comments align with the recent trend of several crypto companies going public on the U.S. stock market. In June, stablecoin issuer Circle successfully went public on Nasdaq, followed by the listing of the crypto exchange Bullish this month. In addition, companies such as Gemini and Kraken have submitted listing documents to the Securities and Exchange Commission (SEC). Meanwhile, Pudgy Penguins is reportedly also considering a stock tokenization strategy in case the IPO does not proceed.
August 24GeneralVitalik: "Prediction markets could see greater demand if collateral interest issues are resolved"
There were comments suggesting that trading volume could increase if the issue of not paying interest on collateral in prediction markets is resolved. On the 24th (local time), Vitalik Buterin, co-founder of Ethereum (ETH), stated on Farcaster, "Currently, major prediction markets do not pay interest, so they're not attractive," and pointed out, "To participate in prediction markets, you have to forego 4% annual interest." He added, "If this issue could be resolved, trading volume could grow significantly."
August 24GeneralVirtual Asset Fear & Greed Index Records 47 Points…Neutral Stage Maintained
According to the virtual asset (cryptocurrency) data provider Alternative on the 25th, the Virtual Asset Fear & Greed Index dropped by 6 points from the previous day to record 47 points. As of 9:06 a.m. that day, Bitcoin (BTC) was trading at $113,445 on CoinMarketCap, down 1.61% from the previous day. Altcoins showed mixed trends. At the same time, Ethereum (ETH) rose by 0.22%, while XRP decreased by 0.36%. In addition, Binance Coin (-0.36%), Solana (+1.10%), Dogecoin (-1.63%), TRON (-0.28%), and ADA (-0.04%) also displayed diverging performances. The Fear & Greed Index is an indicator of market sentiment; the closer it is to 0, the greater the extreme fear, while the closer it is to 100, the greater the extreme greed. The index is calculated based on factors such as volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market dominance (10%), and Google search trends (10%).
August 24General"Bitcoin's Slow Climb Blamed on Heavier Asset Prices"
A recent analysis suggests that Bitcoin (BTC) has been climbing more slowly than other cryptocurrencies such as Ethereum (ETH) and XRP due to its high price. On the 25th (KST), Willy Woo stated on X (formerly Twitter): "The reason Bitcoin is rising so slowly in this cycle is because the amount of capital needed to accumulate Bitcoin is enormous." More specifically, Willy Woo explained, "Bitcoin’s supply is largely controlled by ancient whales," and added, "They bought Bitcoin at $10 each, but buying those Bitcoins now requires $110,000 per coin."
August 24General₩870 billion in futures liquidated over the past 24 hours
With the sharp decline in major virtual assets (cryptocurrencies) such as Bitcoin (BTC), a substantial volume of futures positions were liquidated. According to CoinGlass data on the 25th (KST), a total of $628 million (approximately ₩870 billion) worth of futures positions were liquidated across the entire network in the past 24 hours. Of this, $459 million (about ₩640 billion) came from long positions, while the remaining $168 million (about ₩230 billion) came from short positions. The largest liquidations were seen in Bitcoin (BTC), followed by Ethereum (ETH) and Solana (SOL).
August 24General'Delisting Today' Quiztok, Plummets 75% Intraday
The virtual asset (cryptocurrency) Quiztok (QTCON) is experiencing a steep decline during trading. As of 8:27 AM (KST) on the 25th, Quiztok is trading at 0.062₩ on the cryptocurrency exchange Bithumb, down by 76.58% compared to the previous day. At the same time, Quiztok is trading on the Upbit USDT market at 0.000029 USD, down 49.12% from the previous day. Quiztok is scheduled to be delisted on both exchanges at 15:00 this afternoon. The Digital Asset eXchange Alliance (DAXA) stated that the reason for ending trading support for Quiztok is that "the foundation's explanatory materials alone were not sufficient to resolve the grounds for caution," and added, "After a comprehensive review of project development, business feasibility, and sustainability, we determined that Quiztok does not meet the standards for continued trading support, so we have decided to terminate trading support." Quiztok is a so-called 'Kimchi Coin' issued in South Korea. In fact, approximately 99.61% of Quiztok's trading volume over the past 24 hours occurred on Bithumb, with the remaining 0.39% on Coinone, Upbit, and other exchanges.
August 24General[Today’s Key Economic & Cryptocurrency Calendar] John Williams New York Fed President Speech and More
<Today's Key Economic Calendar> ▶Monday the 25th: △US July New Home Sales (US time 10:00, Korea time 23:00) △Korea August Consumer Confidence Index △John Williams, President of the Federal Reserve Bank of New York, Speech (US time 19:15, Korea time 8:15, 26th) <Today's Key Cryptocurrency Calendar> ▶Monday the 25th: △Bitfinex update announcement △KAIA update announcement
August 24PiCKBitcoin surpasses $100,000… "Cryptocurrency adoption remains in its early stages"
Bitcoin (BTC) has surpassed $100,000, and even though Ethereum (ETH) has overtaken Netflix in the global asset market capitalization rankings, cryptocurrency adoption is still found to be only at an early stage. According to CoinDesk, a cryptocurrency-focused media outlet, on the 24th (local time), Morgan Stanley analyzed, citing a survey conducted in June–July among 647 interns in North America and Europe, that "cryptocurrency adoption is in its early stages." Specifically, in this survey, only 18% responded "yes" to the question "Do you own or use cryptocurrencies?" Among all respondents, 55% said they are not interested in cryptocurrencies. Only 26% of interns answered that they have an interest in cryptocurrencies. In comparison to cryptocurrencies, the adoption rate of artificial intelligence (AI) is very high. 96% of US interns and 91% of European interns replied that they "use AI."
August 24GeneralStargate DAO Approves LayerZero Acquisition Proposal
The cross-chain bridge Stargate (STG) DAO (Decentralized Autonomous Organization) has approved LayerZero's (ZRO) acquisition proposal. On the 25th (Korea time), overseas news feed channel Unfolded reported that Stargate DAO approved LayerZero’s acquisition proposal despite the interest from Wormhole (W), Axelar (AXL), and Across Protocol (ACX). Previously, LayerZero presented an acquisition proposal involving converting Stargate Token (STG) to LayerZero’s ZRO token.
August 24GeneralSaylor posts Tracker Chart…Hints at additional Bitcoin purchase
While Bitcoin (BTC) is experiencing a bearish trend, attention is focused on whether Strategy (formerly MicroStrategy) will purchase more Bitcoin. On the 24th (local time), Michael Saylor, CEO of Strategy, posted on X (formerly Twitter), saying, "Bitcoin is currently on sale," and uploaded the 'Saylor Tracker Chart.' CEO Saylor has previously posted this chart before Strategy bought Bitcoin. As of 7:23 AM on the 25th (KST), Bitcoin is currently down 2.15% from the previous day at $112,750.
August 24GeneralJapanese Bitcoin Treasury Metaplanet Added to FTSE Japan Index
Metaplanet, often referred to as the 'Japanese MicroStrategy,' has been newly added to the FTSE Japan Index. According to Cointelegraph, a media outlet specializing in virtual assets (cryptocurrencies), on the 24th (local time), Metaplanet was automatically included in the FTSE Japan Index, which tracks mid- and large-cap Japanese listed companies, after being promoted from small-cap to mid-cap status thanks to strong second-quarter results. With this inclusion, global capital can now flow automatically to Metaplanet. The outlet evaluated, "This means that liquidity can also be supplied indirectly to the Bitcoin (BTC) market." In 2024, Metaplanet radically shifted its business to become a Bitcoin treasury company. Over approximately a year and a half, it accumulated 18,888 Bitcoins.
August 24GeneralAnonymous whale buys Ethereum after large-scale Bitcoin selloff
It has been revealed that a whale, who had been holding a large quantity of Bitcoin (BTC) for a long period, has disposed of most of their holdings. As Ethereum (ETH), the leading altcoin, and Bitcoin, the leading cryptocurrency, have shown different trends since Jackson Hole, this seems to be influencing the investment strategies of whales. According to on-chain analyst MLM on the 25th (Korean time), an ancient whale recently sold 18,142 Bitcoins for $2,040,000,000. With the proceeds from this sale, the whale proceeded to purchase Ethereum. So far, approximately 416,600 ETH have been acquired and another 135,263 ETH perpetual futures long positions have been opened. Furthermore, about 275,500 ETH have already been committed to staking. MLM commented, "This signals that the whale is attempting to convert all their Bitcoin into Ethereum." Meanwhile, it has been reported that the whale is still in the process of selling 5,968 Bitcoins. This behavior of the whale is analyzed to be in line with the price trends of Bitcoin and Ethereum. After the Jackson Hole meeting of the Fed, Bitcoin initially achieved a slight rebound but quickly returned to a downward trend. As of 7 AM today, Bitcoin was priced at $112,800, down 2.14% from the previous day. Meanwhile, Ethereum has continued its upward momentum since Jackson Hole. From what was just $4,280, Ethereum surpassed the $4,800 mark, reaching a new all-time high. Notably, around 3:30 AM last night, it set a record high of $4,950.
August 24PiCKWyoming Issues Native Stablecoin 'Frontier'…"Accelerating Adoption"
The first state-issued stablecoin, the 'Frontier (FRNT) token,' has emerged from Wyoming, USA, drawing attention to whether this could lead to greater adoption of stablecoins across the United States. According to Forbes on the 24th (local time), Wyoming officially launched the Frontier token on the 19th, which is 102% collateralized with US dollars and Treasury bonds. The Frontier token operates across seven blockchains via the LayerZero (ZRO) protocol. The Wyoming state government plans to use the Frontier token to reduce fees and delays present in traditional financial systems and to utilize the interest income generated as public funds for purposes such as education. The state government emphasized that "unlike central bank digital currencies (CBDCs), the Frontier token is decentralized" and "it is designed to prevent arbitrary sanctions that could infringe on constitutional rights." Experts commented, "The Frontier token was launched after long preparations," and predicted, "Although there are still many challenges for stablecoin adoption, the launch of the Frontier token could accelerate the spread of stablecoins in the United States."
August 24GeneralBitcoin exceeds $113,000
August 24BreakingDemocratic Party to propose 'Digital Asset Innovation Act' in October…"Will push forward swiftly"
Hosted by the National Assembly Political Affairs Committee 'National Assembly Forum for the Enactment of the Digital Asset Innovation Act' "Bill to be proposed in October…Swift Progress Promised" Industry voices: "Systematic legislation is necessary for ecosystem growth" Ahead of the Democratic Party's push to enact the 'Digital Asset Innovation Act', there have been calls for effective supplementation to enhance the bill’s efficacy. There is consensus on the necessity of the legislation, but some point out the need for a well-crafted system design. On the 22nd, the Democratic Party held a 'National Assembly Forum for the Enactment of the Digital Asset Innovation Act' at the National Assembly Members' Hall in Seoul. Organized by the Korea Fintech Industry Association, the event was prepared to gather input from industry and experts on the Digital Asset Innovation Act. During his opening remarks, Kang Jun-hyun, a Democratic Party member, emphasized that "the Digital Asset Innovation Act will move forward with practicality and functionality." He added, "We plan to push ahead swiftly so that there are no unnecessary hurdles during the review process," and stated, "The bill will be formally proposed around October." Experts: "Avoid repeating 'rushed legislation'" Experts believe the government should create an environment that allows the market to prepare for the Digital Asset Innovation Act. Jeon Woo-young, a partner at PwC Consulting, said at the event, "The Digital Asset Innovation Act is a starting point," adding, "To vitalize the digital asset ecosystem, market readiness is essential." He continued, "Financial authorities need to have the capability to address real demand and resolve issues." He pointed out that similar issues exist with Korean-won stablecoins, which have recently been actively discussed domestically. Jeon explained, "Korean-won stablecoins are essential as a solution to the U.S. dollar-related dilemma," but emphasized, "rather than just permitting stablecoins, it is more important to have testbeds and validated use cases through inter-agency collaboration." He added, "Overseas, various stablecoins are issued for different use cases," and "Korean-won stablecoins should draw on such examples to prevent market segmentation and support ecosystem development." There were also calls for more systematic legislation. Kang Hyun-gu, a lawyer at Bae, Kim & Lee LLC, commented at the event, "The current Virtual Asset Basic Act, which is in effect, is a remnant of hastily enacted legislation following the 2022 Terra·Luna incident," and added, "While quick regulation of digital assets is important, a sophisticated system design reflecting market realities is also needed." He continued, "The current Digital Asset Basic Act and the Innovation Act, which have been proposed, positively reflect much of the European Union's MiCA regulation, introducing new businesses such as advisory and collective management, in addition to trading, brokerage, and custody." However, he said, "Digital asset lending and stablecoins require further, in-depth discussion." Concerns raised about risks like money laundering There were also voices calling for risk management measures regarding money laundering. Lee Seok, Director of the Virtual Asset Supervision Bureau at the Financial Supervisory Service, stated, "While the development of the digital asset industry is important, consumer protection must go hand in hand," warning, "Due to the unique properties of digital assets such as decentralization and anonymity, there are risks that they could be exploited for illegal activities like money laundering." He added, "If the industry and government do not address these risks, it could hinder industry advancement," and insisted, "The ecosystem must be fostered in a manner that guarantees user interests and enhances efficiency." There were also comments underlining the need for genuine government engagement in the market. Kim Jong-hyeop, CEO of Parameta, said, "For innovation to be possible, the industry must be able to trust policy direction," and warned, "If even the regulatory sandbox is operated passively, ultimately, investors and companies will be driven overseas." He added, "The Innovation Act should be designed as a negative system (all-inclusive principle), and the financial regulatory sandbox should be opened up more boldly." Jung Gu-tae, CEO of InfiniteBlock, also commented, "The digital asset industry can become a new driver for job creation and global enterprise development," and added, "The government should pursue industry promotion policies to foster the ecosystem, not just regulate for its own sake."
August 22PiCK"Digital Asset Law, Incomplete... Systematic Legislation Needed"
Attorney Kang Hyun-gu of Bae, Kim & Lee LLC stated, "The legal system is not keeping up with the rapid development of the digital asset industry. The current Digital Asset Basic Act in force is very incomplete legislation, a remnant of the Terra-Luna crisis," adding, "There is a need to establish more systematic and realistic bills through discussion." Attorney Kang made these comments while participating in the 'National Assembly Forum for the Enactment of the Digital Asset Innovation Law' at the 6th Meeting Room of the Members' Office Building at the National Assembly Building in Yeouido-dong, Seoul, on the 22nd. He emphasized that the government must not repeat its previous legislative failures related to digital assets. He said, "In 2017, the government used the negative term 'virtual currency' and declared a complete ban on ICOs," adding, "As a result, domestic companies had no choice but to seek indirect issuance overseas." He further pointed out, "At that time, the measures were nothing more than administrative regulatory guidance without a legal basis and ultimately became a representative example of capital outflow from the industry overseas." Going forward, there needs to be in-depth discussions in the Digital Asset Innovation Law to prevent such mistakes. Attorney Kang remarked, "It is positive that the currently proposed Digital Asset Basic Act and Innovation Act have reflected significant parts of the European Union’s MiCA regulations, and have newly introduced roles such as collective management, consulting, and order transmission in addition to trading, brokerage, and custody." However, he added, "Deeper discussions are needed for digital asset lending businesses and stablecoins." In particular, Attorney Kang emphasized about stablecoins, "Simple issuance regulation is not enough," stating, "It is necessary to implement licensing regulations at the financial industry level and continuous monitoring, taking into account their use as a means of payment."
August 21GeneralPwC Consulting: "The government must demonstrate the utility of KRW stablecoins through various use cases"
It was suggested that proof-of-use led by the government is necessary for the successful adoption of KRW stablecoins (virtual assets linked to the value of legal tender). Jeon Woo-young, a partner at PwC Consulting, attended the 'National Assembly Forum for the Legislation of the Digital Asset Innovation Act' held at Meeting Room 6 of the National Assembly Members' Office Building in Yeouido-dong, Seoul, on the 22nd. He stated, "KRW stablecoins can be a solution to the Triffin dilemma, the issue of the US dollar as the key reserve currency." He added, "For stablecoins to become widespread, it is necessary to carry out testbeds and demonstrate use cases through government and inter-ministerial cooperation." Partner Jeon emphasized the need to refer to overseas stablecoin cases. He explained, "Currently, Tether (USDT) handles the distribution side of the overseas virtual asset (cryptocurrency) market, while JPM Coin is responsible for institutional payment settlement methods." He stated, "Like this, different types of stablecoins can emerge depending on the use case." Partner Jeon argued that such segmentation indicates a need for coordination within the business field. He pointed out, "With various operators and licenses proliferating, hegemonic struggles could occur even before the activation of stablecoins," adding, "In such a scenario, the market could become fragmented, and this could create problems for ecosystem development." He further stated, "Of course, the speed of stablecoin adoption is also important," but emphasized, "Before that, the government and financial authorities should step forward to help market participants prepare to utilize stablecoins."
August 21GeneralStrike, Fading into History... Ultimately Delisted from Upbit and Bithumb
The cryptocurrency Strike (STRIKE) is expected to virtually disappear from the market. Delisting from Upbit and Bithumb—where most of Strike's trading volume took place—is imminent. At 2:55 p.m. KST on the 21st, Strike was trading at ₩94.1 on Upbit, down 98.51% from the previous day. At the same time, on Bithumb, Strike was trading at ₩163, a drop of 98% from the previous day. Although Strike was not issued by a domestic virtual asset operator, it has been classified as a “Kimchi coin.” According to CoinMarketCap, Strike's 24-hour trading volume was $199 million, of which $198.8 million (99%) occurred on Upbit, a local crypto exchange. The remaining volume was also traded on Bithumb. With the delisting from the only two exchanges where trading was possible, Strike is following a path to being expelled from the market. Previously, on July 21, Upbit and Bithumb announced via notices that Strike would be delisted. The reason for delisting, they explained, was “failure to disclose important matters by the issuer, lack of core documents such as the white paper, and questions about the project’s viability and sustainability—thus not meeting the exemplary standards for trading support.” Usually, even if a cryptocurrency is delisted from one exchange, it can be cashed out at another. For example, if a cryptocurrency is delisted from Exchange A, it can still be traded by transferring it to Exchange B as long as B supports it. However, for Strike, since the only exchanges supporting it were Upbit and Bithumb, cashing out is effectively impossible.
August 21GeneralOKB Surges 50% Alone Amidst Market Slump… Up Sharply from Previous Day
The utility token OKB of the global cryptocurrency exchange OKX has recently experienced a surge. While other major cryptocurrencies are undergoing corrections, OKB is drawing market attention by continuing its strong upward trajectory alone. As of 1:35 PM on the 21st (KST), according to CoinMarketCap, OKB is trading at $191.15, up 52.16% from the previous day. On a weekly basis, the growth rate is 80.62%—the highest among the top 100 cryptocurrencies by market capitalization. OKB's surge began on the 13th. At that time, OKB was priced at $46.71, but within just one hour it soared 145% to $114.8, and it has maintained its bullish momentum to the present. The main background for OKB’s rise is the announcement of a massive OKB burn by OKX. On the 13th, OKX stated, "We will burn a total of 65 million OKB tokens held by the company in a single batch, and introduce an automatic burning mechanism using smart contracts to reduce the total supply to 21 million — the same as Bitcoin." In effect, this means 279 million tokens, accounting for a remarkable 93% of the previous total supply of 300 million, will be burned. As a result, on the 15th and 18th, OKX executed two rounds of burns, destroying 278,999,999 and 19,678,482 tokens, respectively. OKX explained that this decision is part of its strategy to enhance the performance and expand the ecosystem of its proprietary public blockchain, X Layer. Moving forward, OKB is expected to be utilized in various use cases such as DeFi, global payments, and real-world asset (RWA) integration. Additionally, the timing of OKB’s rise, coinciding with a downturn in major cryptocurrencies, is believed to have contributed to its price increase. Recently, Bitcoin (BTC) and Ethereum (ETH) both reached all-time highs, but quickly turned downward, declining 7.62% and 10.82% respectively over the past 7 days. Binance Coin (BNB)—the native token of Binance, OKX's competitor—only managed a 1.29% increase during the same period. Kiminseung, head of the research center at Korbit, explained: "When major cryptocurrencies show weakness, liquidity often flows rapidly into smaller cap assets over a short period. The OKB token appears to be a case in point."
August 21GeneralBank of Korea Governor Lee Chang-yong: "For stablecoins, it should be bank-centered to prevent side effects"
Bank of Korea Governor Lee Chang-yong stated that it is "preferable for Korean won stablecoins to proceed centering on banks first, then to gradually expand." According to industry sources on the 19th (Korea time), Governor Lee participated in the plenary session of the National Assembly Planning and Finance Committee and shared this view while responding to lawmakers’ questions. Regarding the conditions for the stablecoin issuer, Governor Lee presented a rather conservative opinion. He said, "Issuance should only be allowed for large companies with certain scale that have systems such as KYC (Know Your Customer) to prevent money laundering. However, caution is needed, because allowing large non-bank companies could significantly alter the current bank-centric financial industry structure." He further argued, "If Korean won stablecoins are issued before capital liberalization and wealthy Koreans deposit them with foreign institutions such as Binance, it would be similar to holding Korean won deposits overseas. Since this could completely bypass capital controls, this issue must be considered seriously." Even considering monetary policy, he emphasized that stablecoins should start bank-centered. Governor Lee explained, "If non-bank financial institutions issue Korean won stablecoins, even if the total issuance is regulated, the shock to the market can be significant depending on economic conditions." He meant that even if the central bank instructs the non-bank issuer that launched the won stablecoin to sell government bonds held as collateral to reduce the money supply, prompt execution may not be feasible. In response to Rep. Ahn Do-geol of the Democratic Party of Korea, who pointed out that "as a means of payment, stablecoins offer overwhelming efficiency and need to be implemented quickly," he answered, "I’m not saying we should delay (the introduction of Korean won stablecoins), but rather that banks can move swiftly at the center." He added, "As long as appropriate safeguards are in place for the issuer, quick implementation is also acceptable." He further noted, "While stablecoins are mainly used for cryptoasset trading abroad, Korea still does not permit cryptoassets at all." He added, "Therefore, the Bank of Korea’s official stance is that adoption of stablecoins as a means of payment should be gradual as we monitor the development of the domestic cryptoasset market."
August 19General[Today's Trending Global Coins] Bitcoin, Binance Coin, Pik and More
According to the Token Mindshare indicator by the AI-based Web3 search platform Kaito, which quantifies the influence of specific tokens in the cryptocurrency market (top gainer), the top 5 keywords that people are showing the most interest in as of the 19th are Bitcoin (BTC), Binance Coin (BNB), Pik (PEAQ), Arbitrum (ARB), and Falcon Finance (FALCON). Bitcoin has recently raised concerns among investors due to the prolonged bearish market. During the day, it even fell below $115,000. However, as of 2:12 PM, it is trading at $115,308, down 0.34% from the previous day. Binance Coin took the second spot. This was due to growing investor attention for the Mitosis Token Generation Event (TGE) from Binance Wallet starting that day. The Mitosis Booster campaign will be run by season. The first season will run from 9:00 AM on the 19th (KST) to 8:59 AM on the 26th. Participants can deposit either 0.03 Binance Coin (BNB) or 25 Tether (USDT) into the Simple Yield Mitosis vaults in Binance Wallet. Next, Pik ranked third. As the Pik content campaign, which had been ongoing, ended on this day, the volume of investor mentions increased. Investors are sharing the rewards they have received on social media. Arbitrum and Falcon Finance took the fourth and fifth spots as investor mentions increased with the aim of farming Yapping Points. In addition, investors are showing interest in Proof of Play, USDC, Base (BASE), Avalanche (AVAX), and Linea (LINEA).
August 19PiCKStagnant Virtual Asset Market...All Eyes on Powell’s Remarks
Most virtual assets (cryptocurrencies), including Bitcoin (BTC), have entered a correction phase as the market turns its attention to the Jackson Hole speech by the Fed to be held on the 22nd. According to Forbes on the 19th (KST), Ryan Lavaglia, a partner at Rice Capital, said, “After certain key assets hit record highs, investors took profits,” adding, “This Jackson Hole meeting will be a key watershed for gauging the Fed’s rate decision in September.” The U.S. interest rate is an important indicator that determines investor sentiment toward risk assets, including virtual assets. If the rate rises or is held steady, it can negatively impact sentiment; if the rate is lowered, it may positively influence sentiment. Currently, the market is predicting a 0.25% rate cut by the Fed in September. Tom Bruni, managing editor of StockTwits, also emphasized, “With Bitcoin failing to maintain its upward momentum, investors have turned to the sidelines,” adding, “If Fed Chair Jerome Powell’s remarks dampen expectations for a September rate cut, additional downward pressure could be exerted on Bitcoin.” Some speculate that Powell will continue to clash with U.S. President Donald Trump. Greg Magadini, director at Eberdata, said, “Powell is likely to highlight the Fed’s independence in the face of pressure from the White House and others in government to lower interest rates,” adding, “This Jackson Hole meeting is expected to be the biggest headline of the week.” Meanwhile, market experts identified inflows into spot ETFs, expansion of institutional investment, regulatory and legislative trends, and capital shifts into altcoins as additional variables affecting Bitcoin.
August 18PiCKBitcoin, Returns $115,000
August 18BreakingEthereum Spot ETF Sees Net Outflow of $196.3 Million
The Ethereum (ETH) spot exchange-traded fund (ETF) recorded a significant net outflow. According to TraderT on the 18th (local time), the Ethereum spot ETF saw a total net outflow of $196.3 million on this day. BlackRock ETHA registered the largest net outflow at $86.9 million, followed by Fidelity FETH (-$78.4 million), Grayscale ETHE (-$18.7 million), Franklin Templeton EZET (-$6.6 million), VanEck ETHV (-$4.8 million), and Bitwise ETHW (-$0.9 million).
August 18GeneralUS Bitcoin Spot ETF sees net outflow of $121.7 million
A net outflow occurred from the Bitcoin (BTC) spot Exchange Traded Fund (ETF). According to Trader T on the 18th (local time), the total net outflow from Bitcoin spot ETFs for the day was $121.7 million. BlackRock IBIT saw an outflow of $68.6 million, and ARK Investment ARKB also saw a net outflow of $65.8 million. Conversely, Bitwise BITB recorded a net inflow of $12.7 million.
August 18PiCKEthereum Unstaking Queue Reaches $3.91 Billion—An All-Time High
It appears that the number of investors looking to unstake Ethereum (ETH) is surging, pushing the unstaking queue to its highest level ever recorded. On the 19th (KST), WuBlockchain reported via X (formerly Twitter) that “Currently, there are 910,461 ETH stacked in the exit (unstaking) queue of Ethereum's proof-of-stake (PoS) network,” adding, “This amounts to a total of $3.91 billion, marking an all-time high.” Meanwhile, there are 268,217 ETH in the entry queue, waiting to enter the Ethereum network.
August 18GeneralBanksalad launches stablecoin task force… Trademark applications completed as well
Banksalad is reportedly entering the stablecoin (virtual assets pegged to fiat currency) business. According to the industry on the 19th, Banksalad has formed a dedicated stablecoin task force (TF) since June and is pursuing related business. As part of the stablecoin business, Banksalad applied for 5 stablecoin-related trademarks, such as 'KRWBSD', 'BSDKRW', and 'KRWBS', on the 13th.
August 18GeneralWill Ethereum establish itself as AI infrastructure…Proposing new standard 'ERC-8004'
Ethereum (ETH) is drawing attention as a potential core infrastructure for artificial intelligence (AI). On the 18th (local time), Ethereum Foundation developer Binji introduced the ERC-8004 proposal, 'Untrusted Agent', via X (formerly Twitter), stating, "Ethereum is seriously preparing for AI." The ERC-8004 proposal includes content that expands agent-to-agent communication protocol (A2A) and presents a structure in which agents can verify and trust each other. Specifically, it contains three on-chain registries: ▲identity, ▲reputation, and ▲validation. Through this, it is explained that AI agents can check information about their own actions.
August 18General