Live Feed

ETH institutional demand hits 2.8x daily new supply, analyst says Institutional demand for ETH has reached about 2.8 times its daily new issuance, significantly outpacing supply, Jamie Coutts, a crypto market analyst at Real Vision, said. By contrast, institutional demand for BTC was about 23% below new issuance. Most institutional inflows are currently being driven by spot ETFs, while buying activity from digital asset treasury companies has remained relatively muted. Coutts added that ETF flows move with price rather than serving as a leading indicator for future price moves, while demand is improving and ETH is currently showing clearer strength than BTC.

Ethereum Foundation deposits 566.27 ETH to unlabeled address

Bitmine said it bought an additional 7,391 ETH over the past week, bringing its total holdings to 5,805,238 ETH, or about 4.8% of total ETH supply. The company said 5,067,309 ETH, about 87% of its holdings, is currently staked, with expected annual staking revenue of about $257 million.

Strategy announced the sale of 1,690 BTC.

Bitcoin mining pool OCEAN acknowledged that some miners’ hash rate was unintentionally directed to the BIP-110 chain for about 18 hours and said it will compensate them, Bitcoin News reported. OCEAN plans to pay affected miners around 0.3 BTC based on the returns they were expected to earn from mining on the legacy Bitcoin chain during that period. Some miners sharply criticized the incident, arguing OCEAN had effectively diverted customer hash rate to support the struggling BIP-110 chain. OCEAN has now restored its default connection setting to the legacy chain, while miners can choose between the legacy chain and the BIP-110 chain. BIP-110 is a proposed temporary soft fork aimed at limiting non-payment data embedded in Bitcoin transactions, reducing the use of inscriptions and Runes, and easing the burden on nodes.

An anonymous whale has sold 7,513 BTC worth $486.9 million over the past three weeks, Bitcoin.com reported. Analysts said the selling likely came from short-term investors that are more sensitive to price swings, while long-term holders have raised their share of holdings to a record high.

Strive has purchased an additional 147 BTC, bringing its total Bitcoin holdings to 20,167 BTC, according to Bitcoin Treasuries.

Bitcoin’s volatility outlook in the options market has fallen sharply as BTC has traded in a narrow $62,000-$66,000 range since early last month, CoinDesk analyzed. CoinDesk said the Volmex BVIV Index, which shows annualized 30-day implied volatility for BTC options, fell to 35.59% over the weekend, the lowest level since September last year. That contrasted with February, when the index climbed above 90% as BTC plunged from $90,000 to around $60,000. Griffin Sears, head of derivatives at FalconX, said the main driver of lower volatility was a supply-demand imbalance in the options market. Sears said demand has evaporated for directional options, or bets on a large move in either direction, while supply has remained elevated. Although every options contract has both a buyer and a seller, Sears said the high supply means more investors are writing and selling options to market makers. Sears added that BTC miners and companies in particular are increasingly using a strategy of repeatedly selling call options on their BTC holdings to generate additional income, and that the steady supply of options selling has helped push implied volatility lower. He also pointed to weaker trading activity and a sluggish spot market, adding that as realized volatility based on actual BTC price moves declines, implied volatility, which reflects the market’s expectations for future swings, is also falling.

Decentralized futures exchange Aster burned an additional 2.85 million ASTER about three hours ago, worth around $1.74 million, according to Onchain Lens. The cumulative burn has reached 188.87 million ASTER, equal to 3.78% of the total reduction target aimed at cutting supply to 3 billion ASTER.

FalconX deposited 120 BTC worth $7.82 million to Coinbase 24 minutes ago, according to Onchain Lens. Exchange deposits are typically interpreted as being intended for a sale.

CryptoQuant said BTC is nearing a short-term peak and may face a deeper decline afterward. The firm said the downward “i~v” wave structure, referring to the five sub-waves used in Elliott Wave analysis, should still be viewed as intact within a broader bear-market trend. It identified an expected peak range of $66,317-$68,965, where the rebound could end and the final v-wave decline could begin. CryptoQuant added that if the rebound lasts longer than expected, a scenario in which BTC rises to $70,000 remains possible. It also said on-chain indicators support downside risk. While Bitcoin has been making higher highs, the MACD, or moving average convergence divergence indicator, has been trending lower, signaling bearish divergence. The RSI has also moved into overbought territory. CryptoQuant added that trading volume has declined over the past six weeks even as the price rose, indicating weakening buying momentum behind the advance. It identified the next major downside target as $51,336, the 61.8% Fibonacci level.

Nasdaq-listed Bitcoin miner MARA Holdings sold a total of 23,093 BTC worth $1.6 billion in the first half of this year, according to Lookonchain. The company currently holds 35,577 BTC valued at $2.3 billion.

Standard Chartered said Chainlink’s LINK could reach $200 by 2030 as growth in the asset tokenization market to $4 trillion may benefit the token, according to Cointelegraph.

Tokenized stocks and bonds traded on blockchain-based capital markets are expanding rapidly worldwide, while South Korea has yet to begin legislative discussions on the issue and is falling further behind the global market, Digital Times reported. The global market capitalization of tokenized stocks stood at $2.51 billion as of Aug. 4, up 273.37% from $673.01 million at the start of this year, according to the report. In contrast, South Korea is set to implement amendments to the Capital Markets Act and the Electronic Securities Act in February next year, but discussions on the bills and detailed subordinate regulations by South Korean financial authorities remain entirely focused on issuance and distribution systems for non-standard assets, or fractional investments, such as real estate, art, music copyrights and patent rights, which have been difficult to securitize in traditional capital markets. The report added that South Korea’s domestic capital market remains in a legislative vacuum for the tokenization of standard securities such as stocks and bonds, with no related bill even introduced in the National Assembly to provide a legal basis for 24-hour trading and distributed-ledger settlement.

Cardano Foundation CTO Giorgio Zinetti will step down on Aug. 31, the foundation said. Meanwhile, under its current roadmap, the foundation’s board and management are continuing to work closely with technology and senior business development leaders to focus directly on corporate adoption.

Sigma Chain, which acquired Cyworld, is in talks with financial-sector companies about a stablecoin business and left open the possibility of taking part in stablecoin issuance once relevant legislation is in place and conditions for working with financial institutions are met, Digital Asset reported. Kwak Jin-young, CEO of Sigma Chain, made the remarks to reporters at the Courtyard Marriott Hotel in Seoul today. Kwak added, "If legislation on stablecoins is passed later, acorns could then serve as a means of payment and a pay function," and said Dotori itself could become stabilized.

CryptoSlate argued it is difficult to conclude weak demand at this week’s U.S. Treasury auctions would automatically signal a Bitcoin sell-off, even if Treasury yields rise. The U.S. Treasury is set to auction $58 billion in three-year notes at 5:00 p.m. UTC on Aug. 11, $42 billion in 10-year notes on Aug. 12, and $25 billion in 30-year bonds on Aug. 13. Of the planned $125 billion in issuance, about $96.3 billion is for refinancing maturing debt, leaving roughly $28.7 billion in net new borrowing. CryptoSlate said downside concerns for BTC may grow only if rising yields after inflation data, weak auction demand, higher-for-longer rates, and a BTC decline occur at the same time. By contrast, if auction demand remains solid or BTC does not fall, it said the view that higher yields are weighing on BTC would be difficult to sustain. The outlet added that, based on New York Federal Reserve research showing BTC is largely disconnected from monetary and macroeconomic news, the auction results alone should not be used to predict a Bitcoin drop.

Whale Alert reported that 1,000 million USDT has been minted at the Tether Treasury.

Whale Alert reported that 1,750 million USDT has been burned at the Tether Treasury.

A whale dormant for 12 years and six months moved 26.96 BTC worth $1.75 million, according to Galaxy Research.

Swedish Bitcoin treasury company H100 Group said on X that its total holdings have risen to 3,506 BTC after completing the acquisition of Norwegian companies holding Bitcoin. The move follows shareholder approval for H100 Group to acquire two Norwegian companies holding 2,449 BTC.

Bitcoin concentration rises to 14.8%, signaling potential volatility: analyst Crypto analyst Murphy said Bitcoin concentration has risen to 14.8% and is approaching a high-risk zone, suggesting price volatility could increase. In a post on X, Murphy said the risk in this case is volatility rather than a move up or down, and added the concentration metric alone cannot predict price direction. Based on past cases, Murphy said BTC often continued moving in the same direction after the indicator stopped rising and turned lower, depending on whether the price had been climbing or falling immediately beforehand. Murphy added it is still too early to judge which way BTC will move because the indicator is still rising.

Robinhood will launch cryptocurrency trading on its main investment app for eligible users in the UK, The Block reported. The service will be provided through crypto exchange Bitstamp, which Robinhood acquired for $200 million last year. Robinhood will also roll out in the UK its generative AI-based "Cortex Digests for Crypto," which analyzes crypto-related news, market data and technical indicators to explain factors behind price moves.

South Korean exchange Upbit announced it will temporarily suspend LWP deposits and withdrawals from 3:00 a.m. UTC on Aug. 14 to support the LumiWave Protocol network upgrade.

CryptoQuant CEO Ki Young Ju said BTC's correlation with gold has returned to levels seen when Bitcoin was regarded as 'digital gold.'