Live Feed

Bitcoin is facing resistance near $67,900, the average cost basis of short-term holders who have held the asset for less than three months, and has failed to break above that level for two months, crypto analyst Murphy said. Murphy explained that as bear markets move into their later stages, trading by short-term holders tends to decline, flattening the slope of the overall average cost basis curve. BTC is still failing to push higher through that range, while changes in the average cost basis remain minimal, Murphy said. Murphy added that similar patterns persisted for about three months in the later stages of the 2018 and 2022 bear markets before prices moved sharply following the Bitcoin Cash hash dispute and the collapse of FTX. The market is now in a phase where volatility could surge in either direction if an external shock emerges.

Harmony said it is working with exchanges and validators to pursue a rollback after an unauthorized issuance incident involving ONE. The project added that it plans to release a fix for the vulnerability and publish a list of hacker addresses. The amount of abnormally issued ONE is currently estimated at more than 30 trillion.

Jacob Creech, head of developer relations at the Solana Foundation, said on X that the network continued operating normally despite an outage yesterday at an infrastructure provider used by Solana (SOL) validators. Creech said 597 of 699 staking validators remained online and that validators affected by the disruption were restored within 40 minutes.

CoinDesk said Dogecoin was showing weakness around $0.07 while leveraged futures positioning climbed দ্রুত, raising the risk that further declines could trigger large-scale liquidations and intensify selling pressure. According to CoinGlass, open interest in DOGE futures rose to $1.21 billion from about $930 million in late June. In DOGE terms, open interest reached 17.18 billion coins, nearing 17.78 billion DOGE in October last year, when the price was around $0.25. CoinDesk said the price is still under one-third of that level, but futures open interest measured in DOGE has nearly returned to it. On Binance, accounts holding long positions outnumber shorts by more than three to one, while on OKX the ratio is more than five to one, indicating more traders are betting on upside. CoinDesk added that if the price falls further, leveraged positions could be liquidated in a chain reaction, adding to selling pressure.

U.S. spot Ethereum ETFs recorded net inflows of about $7.4 million on Aug. 12, reversing course after two straight trading days of net outflows, according to Farside Investors. - BlackRock ETHA: +$7.4 million

U.S. spot Bitcoin ETFs saw net outflows of about $61.1 million on Aug. 12, reversing to net outflows a day after posting net inflows, according to Farside Investors. - BlackRock IBIT: -$14.3 million - Fidelity FBTC: -$46.8 million

Bitcoin’s downside risk has eased somewhat after U.S. inflation data came in line with market expectations, but a meaningful price move will likely require data that diverges from consensus, CF Benchmarks Head of Research Gabe Selby said in an interview with CoinDesk. Selby said BTC rose an average of 3.25% in three of the past nine inflation releases that came in below expectations. If the data matches forecasts, the risk of a sharp drop may be limited, but a surprise is needed for a fresh catalyst, Selby added. July consumer price index data released yesterday rose 0.1% month on month and 3.4% year on year, broadly matching market expectations. BTC rose about 0.5% immediately after the release, then gave back those gains and was trading around $63,500. The market’s next key events include the Jackson Hole meeting later this month, the Sept. 4 employment report, and the Sept. 11 inflation data.

Rising prices for metals such as gold, copper and uranium are prompting mining and technology companies to develop crypto tokens linked to physical metals, the Financial Times reported. Companies involved said the products could make metal investing more accessible for retail investors, let crypto investors diversify into real-world assets, and provide miners with a new fundraising channel. Tokenized metals are also expanding beyond gold to uranium, nickel and cobalt. Some companies are trying to tokenize metals before they are mined to fund development. Nasdaq-listed Datavault AI is pursuing a model that would tokenize metals such as copper and antimony before extraction, allowing investors to trade the tokens or redeem them for physical metal after mining. Experts, however, said mining projects are inherently complex and difficult for ordinary investors to assess properly. They also pointed to challenges around whether industrial metals, which vary by purity and origin, can be treated as uniformly as gold, while fragmented trading platforms were cited as another obstacle to accessibility and interoperability.

Boltz, a non-custodial Bitcoin swap platform that suspended services indefinitely last week as AI-based attacks surged, is being acquired by a group of veteran Bitcoin backers, the company said on X. Boltz said the frequency, intensity and sophistication of attacks had risen in recent months, and some attacks caused losses. The company said its five-person, self-funded startup team concluded it would be difficult to withstand that level of attacks over the long term. A group of veteran Bitcoin industry participants will provide the capital and engineering resources needed to acquire Boltz and continue the service, according to the company. The new operators are reviewing and patching vulnerabilities and plan to resume swap services as soon as possible. The identity of the acquirers was not disclosed, and all existing founders stepped down immediately. Boltz had halted services on Aug. 3 to prevent further damage and said users' funds were unaffected because of the platform's non-custodial structure.

A newly created wallet beginning with 0x14699 deposited $153,000 into Hyperliquid and opened a 40x leveraged long position in 97.92 BTC worth $6.22 million, according to Lookonchain. The liquidation price is $62,825.

Glassnode said Bitcoin spot trading volume has fallen to its lowest level since the firm began tracking the data in 2019, warning that losses could deepen if BTC breaks below $58,500, according to Wu Blockchain. Glassnode said BTC is currently trading between the median realized price of $63,000 and the average entry price for short-term holders of $68,700. The firm added that indicators pointing to seller exhaustion are nearing levels seen at past bear-market bottoms, but spot demand remains weak as ETF net inflows are limited and BTC continues to see net inflows to exchanges. With buying interest thin and leveraged positions crowded, Glassnode said a drop below the June low of $58,500 could accelerate the downside.

An anonymous whale address starting with 0xDeB0 deposited 60,000 HYPE into Hyperliquid and then sold 31,560 HYPE worth $1.77 million, according to Onchain Lens. Separately, two orders to sell HYPE using a time-weighted average price, or TWAP, strategy are currently in progress, including one order to sell 40,000 HYPE worth $2.1 million with about 15 hours remaining. The whale also transferred about 1.67 million USDC to Coinbase.

Pools.fun, a token issuance platform jointly launched by decentralized exchange SushiSwap and automated trading agent Bankr, plans to launch its own protocol token, Bankr founder 0xDeployer said on X. 0xDeployer said 30% of protocol fees will be used for token buybacks and burns, while an airdrop and a points program are also planned. The founder added that users’ trading volume and the trading volume of tokens users issue on the platform will be reflected in the points system. 0xDeployer also said fees to be used for buybacks after the token launch are already being accumulated.

Bitwise CIO Matt Hougan said the crypto market will grow around projects that generate profits. In a post on X, Hougan said Hyperliquid (HYPE), Pump.fun (PUMP), Uniswap (UNI), Aave (AAVE), Aptos (APT) and Solana (SOL) all use generated fees for buybacks or token burns, but those mechanisms are not yet reflected in the tokens’ prices. Hougan had also said in May and July that the market was showing rising interest in protocols that return fee revenue to token holders.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $21.29 million liquidated (51.01% longs) - ETH: $35.29 million liquidated (53.46% shorts) - SPAX: $10.88 million liquidated (91.07% shorts)

Koscom and NH Investment & Securities have signed an MOU on tokenized securities, Digital Asset reported. The two plan to verify a joint platform and explore new business models including the tokenization of existing securities as they prepare for the establishment of a legal framework for STOs. Key areas of cooperation include: - system and business process verification using Koscom’s joint STO platform - coordination on related operations including STO issuance and account management - development of new business models based on digital assets and STOs - a joint response to regulatory and market changes

Crypto market maker GSR increased SOL’s weight to 43.7% in its in-house model portfolio of BTC, ETH and SOL, while reducing ETH to 39.5% and BTC to 16.9%. GSR said SOL’s weighting was raised as its relative upside signals recently strengthened. GSR added SOL has also shown stronger short-term price action, although trading volume over the past seven and 30 days has declined. ETH’s weighting was reduced, but its 30-day return was still the highest among the three assets, according to GSR. BTC kept the smallest weighting as it has recently underperformed ETH and SOL, while longer-term trading activity has remained weak, GSR said. The market maker added all three assets are showing unusually low volatility, with narrow trading ranges persisting.

Nasdaq-listed crypto custody firm BitGo (BTGO) posted $4.3 billion in second-quarter revenue, a net loss of $19 million and an adjusted EBITDA loss of $4.2 million, The Block reported. Revenue rose 79.6% from a year earlier, with strength in crypto-related business segments and increased stablecoin trading cited as factors.

Grayscale’s head of research, Zach Pandl, said the recent Bitcoin bear market may be nearing its end as BTC prices begin to stabilize, while the base of medium- and long-term BTC investors is likely to keep expanding regardless of short-term price moves. Pandl said rising concerns over inflation and currency debasement as government debt increases would likely boost demand for scarce and alternative assets. He added that the expansion of stablecoins and tokenized services is also expected to increase blockchain use across finance, making BTC trading and custody more commonplace. Pandl also said younger investors show a stronger preference for digital assets, while alternative assets are increasingly becoming a standard part of portfolios. Investment in BTC by institutions, wealth management platforms, and individuals is expected to continue growing through exchange-traded products, or ETPs, he said. According to a Grayscale chart, the number of BTC addresses with a balance stood at about 57 million as of July 31, extending its long-term uptrend.

An anonymous whale address beginning with 0x7099 has exited an ETH position bought in early June, realizing about $4.3 million in profit, EmberCN reported. The address borrowed 30 million USDS against ETH collateral from lending protocol Spark on June 7 and bought 18,212 ETH at an average price of $1,647. It later sold 15,993 ETH today at an average price of $1,889, repaid the loan with 30.20 million USDS, and locked in roughly $4.3 million in profit.

South Korea’s Financial Services Commission has resumed work on a second-stage virtual asset law, widely referred to as the Digital Asset Basic Act, and plans to pursue a member-sponsored bill under the name of National Policy Committee Chair Yoo Dong-soo, Yonhap Infomax reported. According to South Korean financial authorities and the National Assembly on Aug. 13, the FSC met privately late last month with Yoo, the ruling Democratic Party’s chair of the National Assembly’s Political Affairs Committee, and ruling party floor member Park Sang-hyuk to discuss ways to advance the Digital Asset Basic Act. A financial industry official said the participants agreed that, because the bill involves clear points of contention and differing views, prior coordination within the ruling party would be needed to minimize friction at the subcommittee stage.

The Block reported the launch of Zcash Labs, an independent organization set up to support corporate adoption of ZEC. The group will focus on lowering the technical barriers companies face when integrating ZEC into real-world services, first by providing technical integration and related support and by funding projects that expand ZEC utility use cases.

A whale dormant for about two years moved 1,770 BTC worth about $112.14 million to a new address, according to Onchain Lens.

The U.S. Commodity Futures Trading Commission warned that designated contract markets are showing a growing number of deficiencies in self-certification filings for incentive programs tied to event contracts, including prediction market products. The CFTC’s Division of Market Oversight said the shortcomings have increasingly appeared in filings for programs that reward market-making, liquidity provision, and trading activity, particularly in event contract products. It added that when introducing or changing such programs, exchanges should fully disclose the terms and properly review compliance with CFTC rules.

Metaplanet transfers 5,014 BTC to external address for wallet management