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Arthur Hayes bought 1.9 million ETHFI tokens for $1.17 million, re-entering four months after selling at a loss.
Hayes paid $0.62 per ETHFI after selling 265,461 tokens at $0.44 in April, marking a 41% higher re-entry price.
ETHFI gained 25.3% in a week as exchange outflows increased, with the token trading near $0.631 at press time.
Arthur Hayes has bought back 1.9 million ETHFI tokens worth $1.17 million, four months after selling part of his position at a loss. Lookonchain reported the purchase about four hours after it settled, showing Hayes paid $0.62 per token. His earlier sale involved 265,461 ETHFI at $0.44 in April.
Hayes Re-enters After Selling at $0.44
The latest purchase puts Hayes' new entry about 41% above his April sale price. Lookonchain described the move as another example of selling low and buying higher. ETHFI has gained 25.3% over the past week during a wider crypto market advance. However, the token remains about 93% below its March 2024 record of $8.53.
The price action also coincides with changing exchange flows. ETHFI climbed from roughly $0.37 to $0.40 on Aug. 12 before moving above $0.50. The token later accelerated around Aug. 20 and Aug. 21, reaching approximately $0.60 to $0.64.
ETHFI Exchange Flows Turn More Volatile
Meanwhile, exchange netflows showed larger movements as the price advanced. One major inflow reached about $65,000 on Aug. 21. That movement placed more ETHFI onto spot exchanges, where tokens can become available for trading.
Source: Coinglass
However, the largest recorded move came on Aug. 22. Netflow fell to approximately negative $630,000, marking a substantial ETHFI outflow from exchanges. Further outflows followed on Aug. 23, including one near $450,000.
At press time, ETHFI traded near $0.631, up 11.1% over 24 hours. Its market capitalization stood at $649.7 million, ranking 92nd.
Hayes’ Trading Record Includes Other ETHFI Losses
The latest purchase follows losses recorded across wallets linked to Hayes. A review of three attributed wallets found $2.47 million in losses across 124 trades. Those trades covered December 2023 through August 2026.
ETHFI accounted for $474,000 of the recorded losses during that period. Meanwhile, Ethena's ENA was the only profitable position among the reviewed trades. That position generated a reported $3.23 million gain.
Hayes' current ETHFI position sits near $0.62, while recent prices remain slightly above that entry. Key support levels include $0.60, $0.55 and $0.50. Resistance remains near $0.64 to $0.65, while $0.70 represents the next level identified in the supplied market data.
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Ethereum could target $5,000 if it breaks the 2,722-2,970 resistance zone, analyst Ali said.
Whale addresses holding over 10,000 ETH rose 1.74%, while more than 180,764 ETH left exchanges in one week.
ETH's MVRV crossover preceded a 34% gain, while analysts identified $2,235 as potential support before further upside.
Ethereum could target $5,000 if it clears a major resistance zone between $2,722 and $2,970, analyst Ali said. On Aug. 19, Ethereum’s MVRV Ratio crossed above its 160-day moving average, followed by a 34% rise. ETH climbed from $1,905 to $2,547, while whale accumulation and exchange withdrawals also increased.
Whale Buying Adds to Ethereum’s Recent Advance
Ali said the number of addresses holding more than 10,000 ETH rose 1.74% over the past week. That added 17 new whale addresses to the network. Meanwhile, more than 180,764 ETH left exchanges during the same period.
Ali valued those withdrawals at roughly $440 million, citing them alongside rising whale holdings. After the Aug. 19 MVRV crossover, ETH had traded near $1,880 to $1,900 between Aug. 16 and Aug. 19.
However, the price then broke through $2,000, $2,100 and $2,200. ETH later reached the $2,500 to $2,520 area before entering a sideways range.
$2,722 Resistance Becomes the Main Hurdle
Ali identified $2,722 to $2,970 as Ethereum’s main resistance zone. URPD data shows that 16.70 million ETH previously changed hands across this range. Therefore, a sustained move above the zone would remove the supply wall identified by Ali.
He said the next major MVRV pricing band sits near $5,363 at the 2.4 MVRV level. However, Ali also said Ethereum could first fall toward its realized price near $2,235. He described that move as reasonable before a possible advance toward the 2.4 MVRV band.
The latest market data places ETH near $2,456. Support sits around $2,400 to $2,420, while deeper support remains near $2,300 to $2,350.
Momentum Remains Positive but Measured
ETH’s RSI is at 54.91, with its average near 54.52. The reading remains above the neutral 50 level without reaching overbought territory. Meanwhile, the MACD shows limited short-term momentum. Its histogram is at -0.02, while the MACD and signal lines are at 6.18 and 6.21.
Source: TradingView
The $2,500 to $2,520 area remains in immediate resistance on hourly readings. A break above that zone would strengthen the near-term advance, while failure could keep ETH ranging or pull it toward $2,400.
The post Analyst Maps Ethereum’s Path Toward $5,000 as Whale Buying and Outflows Rise Grow appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Doctor Profit identifies $71,000 as Bitcoin’s key support and $78,500 as the resistance that could trigger a move toward $82,000.
He says short covering drove much of Bitcoin’s latest rally as forced buyers helped push BTC through major resistance levels.
Doctor Profit favors Ethereum over Bitcoin, maintaining a 60% ETH and 40% BTC allocation across his crypto portfolio.
Bitcoin analyst Doctor Profit said Bitcoin’s bear market ended after its latest breakout above major resistance levels. In an Aug. 20 update, he identified $71,000 as strong support and $78,500 as the next major resistance. He expects a move toward $82,000 if Bitcoin breaks above $78,500 with strength.
Bitcoin Holds Between Two Key Levels
Doctor Profit said Bitcoin could retest $71,000, although he is not positioning around that possibility. He considers $71,000 the lowest meaningful area Bitcoin could revisit before moving higher.
However, he described prices between $71,000 and $78,500 as less important to his strategy. According to the analyst, a break above $78,500 would open a path toward approximately $82,000.
He also pointed to Bitcoin’s reaction around $60,000 as evidence of strong buying interest. According to Doctor Profit, large buyers entered when fear pushed prices lower.
Meanwhile, he rejected concerns about Bitcoin’s current RSI readings. He said weekly and monthly RSI remain in neutral regions. However, he considers daily RSI more useful for short-term price movements.
Short Covering Drives Bitcoin’s Recent Move
Doctor Profit said much of Bitcoin’s latest advance came from forced short closures. He argued that bears became buyers as their positions closed. He compared the move with Bitcoin’s 2023 advance from roughly $16,000 to $25,000.
Bitcoin later fell about 22% toward $19,000 after RSI reached extreme levels. However, Bitcoin then climbed from around $19,000 to $30,000. Doctor Profit cited the episode when discussing repeated shifts between fear, corrections and renewed buying.
Doctor Profit Favors ETH Over Bitcoin
Doctor Profit said his current allocation includes Ethereum, Circle and Coinbase. He described these holdings as his “Galactic Three” and said his BTC/ETH allocation remains 40% BTC and 60% ETH.
According to his figures, BTC gained 26% from his entries, while ETH gained 33%. CRCL rose 50%, while COIN increased 15%. He also highlighted tokenization, stablecoins, on-chain settlement and institutional adoption. For Bitcoin, his current map remains $71,000 support, $78,500 resistance and $82,000 as the next level.
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Cathie Wood argues Circle is disrupting Visa and Mastercard as USDC transaction volumes and market share continue to expand.
Circle reported $48 million in Q2 net income as USDC processed $849 billion in July transactions, gaining 62% market share.
Visa and Mastercard face growing stablecoin competition after joining the Open USD consortium alongside Circle rival Coinbase.
Cathie Wood challenged Wall Street’s view of Circle, Visa and Mastercard on Aug. 23, arguing analysts underestimate stablecoin competition. The ARK Invest founder said CRCL had gained 84% since its June 2025 IPO. Meanwhile, Visa and Mastercard posted year-to-date gains of 5% and 1%, respectively, as Circle's stock recovered 30% in July.
Circle’s Results Put Focus on USDC Growth
Wood said many financial services analysts built their records covering Visa and Mastercard. However, she argued that those analysts cannot understand Circle as a payments industry disruptor. According to Alex, a finance researcher and partner at Artemis and Oobit, the recent stock moves reflect changing views.
https://twitter.com/obchakevich_/status/2090151427477790992?s=20
Circle reported $48 million in net income during the second quarter of 2026. The result reversed a loss recorded during the prior-year period. Additionally, Circle's transaction revenue doubled during the same period.
USDC recorded approximately $849 billion in transaction volume during July and held 62% market share. During the first half of 2026, USDC processed a record $5.3 trillion in transactions. Meanwhile, CRCL traded about 58% below its peak despite July's 30% rally.
CRCL debuted at $31 on June 5, 2025, and later reached nearly $299. The shares subsequently declined sharply from that level.
OUSD Consortium Adds New Competition
However, Circle's market position now faces competition from the Open USD consortium and its OUSD stablecoin. The consortium launched around June 30, 2026, with Stripe, Coinbase and BlackRock among its partners.
Notably, Visa and Mastercard also joined the group. According to Alex, Mastercard paid $1.8 billion for BVNK Finance. BVNK had previously powered Visa's stablecoin payouts.
The arrangement adds another connection between traditional payment networks and stablecoin infrastructure. Meanwhile, Coinbase's participation places a historical Circle partner behind a competing stablecoin project.
Payments Stocks Show Different Market Moves
According to Alex, Circle's July rally followed an earlier 42% decline over twelve months. He said CRCL's recovery came alongside Circle's profit turnaround and higher transaction revenue. Alex also cited $33 trillion in stablecoin transfers during the previous year.
That figure represented 72% growth, according to his analysis. Meanwhile, Visa and Mastercard continued their smaller year-to-date gains. Both companies also joined the OUSD consortium as competition expanded across stablecoin issuance and payment infrastructure.
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Paolo Ardoino says USDT adoption is rising across Venezuela, Bolivia, Argentina and Turkey amid currency pressures.
Businesses and consumers increasingly use USDT for trade, payments, peer-to-peer transactions and value preservation.
Dollar shortages, inflation and financial restrictions are driving demand for USDT across these developing markets.
Tether CEO Paolo Ardoino said Aug. 23 that USDT use is rising in Venezuela, Argentina, Bolivia and Turkey. According to CriptoNoticias, he said businesses and individuals increasingly use the stablecoin for domestic trade and cross-border payments. Ardoino linked the growth to currency devaluation, dollar shortages and financial restrictions affecting local markets.
https://twitter.com/paoloardoino/status/2091562765206868034?s=20
Ardoino said several developing economies now rely heavily on USDT for internal and foreign commerce. He also said Tether’s financial inclusion mission has become more important as stablecoin use expands.
Venezuela provides one example of the uses Ardoino described. Local businesses use USDT for import and export settlements, where traditional correspondent banking can create additional payment difficulties.
Venezuela and Bolivia See Commercial Use
According to data cited by the Venezuelan Chamber of Electronic Commerce, Venezuela has high per-capita digital asset adoption. The country has developed a mixed financial environment involving the bolívar, cash dollars and digital assets.
Bolivia has also seen wider USDT use since a shortage of physical dollars emerged in 2024. According to CriptoNoticias, USDT has entered commercial transactions, including fuel purchases.
The country’s Ministry of Economy and Public Finance is considering whether to integrate USDT into its payment system. The proposal would allow the stablecoin to circulate alongside the Bolivian boliviano.
Meanwhile, state-owned and private banks have integrated USDT into mobile applications. Peer-to-peer platforms have also recorded strong growth, according to the report.
Argentina and Turkey Show Different Uses
In Argentina, USDT has become widely used in the street economy and peer-to-peer market. Users turn to the stablecoin to preserve value and convert between USDT and pesos.
However, USDC is competing for business users that require formal tax and accounting treatment. This creates a different focus between retail and corporate stablecoin use.
Turkey has also become a market highlighted by Ardoino. Persistent inflation has encouraged people to use USDT as a way to protect purchasing power.
Across these countries, Ardoino's comments focus on specific uses tied to local currency pressure. Those uses include trade settlement, peer-to-peer transactions and protection against inflation.
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SHIB breaks its descending anchor band, while stronger volume supports the move and traders watch whether support can hold today.
Around 811 billion SHIB reportedly hit main exchanges, which could lead to selling pressure if holders sold.
Resistance is coming to a price near $0.000005443, and the bulls' $0.0000052 key level is holding firm.
SHIB breakout activity is reshaping the near-term setup, while exchange inflows introduce a competing supply concern for traders.
Anchor Band Break Changes the Technical Structure
The daily chart shows a prolonged decline beneath a descending red anchor band. Repeated rebounds failed there, keeping lower highs and lower lows intact. That structure changed after buyers pushed decisively above the resistance zone.
CW (@CW8900) said SHIB had broken the anchor band and turned bullish. The chart supports that reading through its latest vertical breakout candle. Its indicator panel also shows bullish trend and volume signals alongside an active setup.
Source: X
The breakout followed consolidation near the lower end of the recent range. Buyers then accelerated, pushing price through the marked yellow resistance levels. That move shifted the immediate structure from rejection toward attempted continuation.
However, the breakout must be followed up before a longer-term trend reversal can be validated. A bullish trend would lose strength if the return was below the anchor band. A successful retest could instead establish that former resistance as fresh support.
Momentum Gains Strength From Higher Trading Activity
The chart records a sharp volume expansion during the late-July advance. That surge accompanied the strongest upward price movement shown in the recent structure. It indicates heavier participation during the breakout phase rather than quiet price movement.
Source: Coinmarketcap
SHIB as of the time of writing was trading near $0.000005443 after a 3.63% daily gain. Its displayed 24-hour volume increased more than 134%, reaching hundreds of millions. Volume relative to market capitalization also stands near 11.76% in the provided data.
Price had rallied slightly higher to around $0.0000052 from the $0.0000062 zone. Later it was rejected and went back to the $0.0000056 zone. The latest price action therefore reflects consolidation after an unusually sharp upward move.
The $0.0000052 area remains an important reference for the bullish structure. Meanwhile, $0.0000055 to $0.00000575 forms the immediate recovery zone. Reclaiming the upper boundary could place the recent $0.0000062 peak back into focus.
Exchange Flows Create a Separate Supply Test
Compass Investments reported about 811 billion SHIB entering centralized exchange wallets. The reported transfers included major platforms such as Binance and Coinbase. Such movements can increase tokens available for trading and potential selling.
The reported amount equals roughly 0.14% of the displayed circulating supply. That figure remains relatively small against the overall supply base. However, concentrated deposits can still affect short-term liquidity conditions.
Compass Investments interpreted the transfers as possible profit-taking by longer-term holders. Yet exchange deposits alone do not confirm that selling has occurred. Tokens can also move between custody arrangements or prepare for future trading.
The key test is whether exchange inflows coincide with aggressive selling and weaker bids. Rising deposits alongside falling support would strengthen the distribution argument. Stable prices despite those transfers would suggest buyers are absorbing available supply. That distinction matters when interpreting exchange data alongside price action.
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XRP has surged over 22% in a week, as it has been backed by increased volume and renewed risk appetite in the wider crypto market.
Buyers have returned to key intraday levels, continuing the latest advance, while the bulls have kept their momentum front of mind with increasing activity.
The $1.50 area remains a key reference, while the $9.80 forecast faces several resistance levels before confirmation.
The cryptocurrency market is in recovery mode, with XRP's rally momentum increasing as weekly gains have picked up, trading volume has surged, and buyers have resumed aggressive buying at higher price levels.
Weekly Strength Accelerates as Buyers Return
KingXRP has called for a $9.80 target, while Crypto Fortress reported gains above 22%. Both posts point toward stronger momentum during the recent market recovery. Their updates arrive as buying activity across major cryptocurrencies has increased.
https://twitter.com/MRKingXRP/status/2090648983836189100?s=20
Bitcoin and several large-cap coins have also moved higher recently. That broader recovery has helped improve overall risk appetite across crypto markets. XRP has responded with particularly strong short-term price performance.
Crypto Fortress also linked the advance with higher trading volume. Increased activity suggests more participants are engaging with the recent move. The weekly performance has therefore developed alongside stronger market participation.
XRP as of writing is trading at $1.36, following an approximately 18.5% daily gain. Reported 24-hour volume stands near $8.6 billion, up more than 122%. These figures indicate substantial activity during the latest upward move.
Price Structure Shows Strong Intraday Recovery
The displayed session began around the $1.08 to $1.10 region. Buyers gradually pushed through $1.20 before momentum accelerated toward midday. Price subsequently approached the $1.34 area before experiencing a sharp pullback.
That correction brought the market toward the $1.23- $1.25 zone. Buyers then defended the area and rebuilt upward momentum. Price later consolidated between approximately $1.25 and $1.30.
Source: Coinmarketcap
The $1.30 region eventually gave way as buying pressure returned. Price moved beyond that consolidation before reaching the session's latest high. This sequence created higher highs and higher lows across the displayed period.
The recovery therefore extends beyond a single upward spike. Buyers absorbed the midday decline before establishing another advance. Sustaining levels above $1.30 would keep the current short-term structure constructive.
$1.50 and $9.80 Targets Remain Separate
The supplied graphic places $1.50 above a rising sequence of candles. A green arrow extends beyond that marker toward substantially higher territory. The visual therefore presents $1.50 as an important upside reference.
KingXRP has issued a considerably more aggressive forecast for September 1. The post claims XRP could reach $9.80 by that date. It also identifies August 24 as a potentially intense period for market activity.
The $9.80 forecast sits well beyond the chart's marked $1.50 reference. Several intermediate advances would therefore be required before that target becomes technically relevant. The forecast itself does not establish confirmation of such a move.
Crypto Fortress instead emphasizes weekly strength, rising volume, and improving market conditions. Its update connects the move with broader risk appetite across cryptocurrencies. Together, these factors keep attention on whether the current momentum can persist.
The post XRP Rally Builds Momentum Toward Higher Levels appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

Upbit recorded 1.15 trillion won in one-hour trading volume after a sharp crypto market flash crash on August 22.
XRP led Upbit's 24-hour trading activity with 32.20%, followed by TRUMP at 10.93% and USDT at 8.39%.
South Korea's major exchanges saw stronger trading as Upbit, Bithumb, and Coinone recorded elevated volumes during the selloff.
South Korea’s Upbit recorded 1.15 trillion won, about $830 million, in one-hour trading volume on August 22, 2026. The spike came around 05:00 UTC after a sharp flash crash hit major cryptocurrencies. XRP and TRUMP led activity as trading surged across South Korea’s largest cryptocurrency exchanges.
XRP And TRUMP Lead Upbit Trading
According to Upbit Datalab, XRP accounted for 32.20% of Upbit’s 24-hour trading volume. TRUMP followed with 10.93%, while USDT ranked third at 8.39%. Ethereum and Bitcoin completed the top five, contributing 5.44% and 5.40%, respectively.
Meanwhile, Upbit’s 24-hour volume reached about $3.818 billion. The hourly surge followed a wider market selloff at 05:00 UTC. Major assets dropped quickly before prices entered heavy volatility.
That move pushed traders toward XRP and TRUMP, which recorded the largest shares of Upbit activity. Notably, the exchange’s daily volume had already climbed the previous day.
Upbit Volume Jumps 273% In One Day
On August 21, Upbit’s daily trading volume jumped 273% to about $1.84 billion. That figure marked the exchange’s highest daily volume since mid-March. XRP again ranked first, generating $418.9 million in volume during that session.
Bitcoin, USDT, and Ethereum followed XRP among the most traded assets. Bithumb also recorded stronger activity on August 21. Its daily volume increased 132.9% to approximately $934.9 million.
The increase continued into August 22, when South Korea’s major exchanges posted elevated trading volumes. Bithumb recorded $1.954 billion, while Coinone reached $172 million.
South Korean Exchanges See Higher Activity
The latest figures came after several months of weaker trading activity across South Korea’s crypto market. During that period, domestic equities drew more attention as the KOSPI reached record highs.
The KOSPI rise followed demand for AI-related semiconductor stocks. However, Upbit and Bithumb both reported operating revenue declines of nearly 50% during the first half of 2026.
The August 22 flash crash then brought heavier trading to Upbit, with XRP and TRUMP accounting for large portions of activity. The exchange’s one-hour volume reached 1.15 trillion won during that period.
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Eric Trump denied claims that the Trump family was launching a new cryptocurrency called Truth Coin, calling the reports fraudulent.
The rumor followed activity around a WWW token on Robinhood Chain, which traders linked to the alleged Truth Coin launch.
Trump-linked tokens rose as the rumor spread, with TRUMP gaining 40% and MELANIA increasing 11%, according to the supplied data.
Eric Trump denied claims on X on August 22 that the Trump family planned a new cryptocurrency called Truth Coin. The claim spread after traders noticed a new WWW token and wallet activity on Robinhood Chain. Eric said no one was launching a coin and called claims otherwise a fraud.
Rumor Spreads Around A New WWW Token
The rumor gained ground after WhaleScan posted on X that Donald Trump was preparing another coin. The account claimed it would be first to report the launch, as with Trump’s previous coin.
Attention then shifted to a WWW token on Robinhood Chain. StarPlatinum_ linked the token to “Truth Coin” in a post shared on X. The reported token had a planned supply of 1 billion coins, with 500 million available at launch.
About 300 million tokens were planned for liquidity, while 200 million were reserved for project growth. The developer wallet later reportedly received 300 ETH. Meanwhile, its trading fee changed from 10% to 0.3%, according to the provided information.
Eric Trump Rejects The Token Claims
Eric Trump responded on X, calling the claim “absolutely not true.” He said no one was launching any kind of coin and warned that contrary claims were fraudulent. His response followed reports that Trump-linked tokens gained as the rumor circulated.
TRUMP rose 40%, while MELANIA gained 11% in one day, according to the provided market data. The WWW token also reportedly reached about $10.24 million in market value. However, the developer wallet was said to hold 99.9% of the supply.
The rumor surfaced alongside the Trump family’s cryptocurrency involvement. Eric Trump has been affiliated with World Liberty Financial, a decentralized finance project launched in 2024.
The family has also been linked to American Bitcoin. Meanwhile, TRUMP and MELANIA remain Trump-related meme coins. Neither World Liberty Financial nor American Bitcoin was implicated in the new token claim.
Trump Media & Technology Group, which owns Truth Social, has explored crypto and prediction market plans. However, the company now appears more focused on Bitcoin than issuing a new token.
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Justin Sun's $45 million dispute with World Liberty Financial will continue publicly after a federal judge rejected arbitration.
Sun alleges WLFI retained undisclosed powers to freeze, transfer, or burn his 4 billion tokens after they unlocked.
The case could test whether token holders have true ownership when issuers retain broad contractual control over digital assets.
Justin Sun’s $45 million dispute with World Liberty Financial will continue in open court after a federal judge rejected arbitration. The ruling keeps Sun’s individual claims public, while his case alleges WLFI used undisclosed contract powers to freeze, transfer, or burn his 4 billion tokens. Sun says the dispute now centers on who controls digital assets.
Arbitration Bid Fails In Federal Court
The dispute began with Sun’s reported $45 million investment in WLFI for 4 billion tokens. World Liberty Financial sought to move Sun’s claims into private arbitration and seal the proceedings.
However, the federal judge rejected that request, allowing Sun’s individual claims to continue publicly. As a result, the contractual terms behind the dispute can now face scrutiny in open proceedings.
Sun alleges that WLFI secretly retained powers to freeze, transfer, and burn tokens held by users. He also claims those powers lacked disclosure, governance, and a formal process.
Sun Challenges WLFI Over Token Controls
According to Sun, the controls became relevant within days after his tokens unlocked. He says WLFI used those contractual powers against his tokens after they became available.
Sun has framed the lawsuit around blockchain ownership rather than only the money involved. He argues that users should control assets they hold without needing permission from an issuer.
That argument rests on the principle “your keys, your coins,” according to Sun. He says an issuer’s ability to confiscate or freeze assets changes the meaning of digital ownership.
Federal Court Keeps Claims Public
Sun is seeking hundreds of millions of dollars in damages from the dispute. However, the latest ruling does not decide whether his allegations are valid.
Instead, the decision addresses World Liberty Financial’s attempt to force the claims into arbitration and keep proceedings sealed. Sun’s individual claims will remain in the public court process.
Sun also says the case could establish a legal precedent for token ownership and issuer controls. He wants the court to address whether “your assets” means actual ownership when contracts grant issuers broad control.
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ZEC reached $865, its highest level since January 2018, after gaining roughly 3.4 times from its June low near $250.
Grayscale’s filing to convert its Zcash Trust into a U.S. spot ETF accelerated the rally above $800.
ZEC mentions reached 138 on August 21, far below June’s 1,116 peak despite the token’s rapid price increase.
Zcash has reached its highest price in eight years after ZEC surged 47% to $865. The rally followed Grayscale’s filing to convert its Zcash Trust into a U.S. spot ZEC ETF. However, Santiment Intelligence reported that social activity remained far below June levels despite ZEC gaining fast from its recent low.
https://twitter.com/SantimentData/status/2091188685693726880?s=20
ZEC Reaches Highest Price Since 2018
ZEC reached $865, a level last seen in January 2018. The token has now gained about 3.4 times from its June low near $250. ZEC traded around $362 on June 6 before rising to roughly $796 by August 21.
That represented a gain of about 120%, with most of the move occurring within four days. ZEC climbed from approximately $509 on August 18 to $733 on August 21. The rally later pushed above $800, with the provided chart showing a latest close of $809.90.
The chart recorded a high of $813.60 and an opening price of $802.29. Volume also expanded sharply as ZEC moved through $600, $650, $700 and $750.
Grayscale Filing Adds To ZEC Price Move
The Block reported that ZEC’s rally accelerated after Grayscale filed to convert its Zcash Trust. The filing would create the first U.S. spot ZEC ETF. Before the breakout, ZEC spent much of late July and mid-August between roughly $460 and $520.
Price then broke above $550 around August 19. The June decline followed an AI discovery of a critical counterfeiting vulnerability. The vulnerability had remained active for four years, according to the provided information.
Source: TradingView
ZEC remains about 73% below its all-time high of $3,191. Meanwhile, the chart shows RSI at 71.07, above the traditional 70 level.
Social Activity Remains Well Below June
Santiment recorded 1,116 ZEC mentions on June 5, one day before the token reached its June bottom. On August 21, mentions reached only 138. That August figure represented roughly one-eighth of the June total.
Santiment noted that social activity had returned near May levels despite the higher price. The chart also showed a MACD line of 72.37 against a 67.21 signal line. Its histogram stood at 5.16, while key levels included $800, $750, $700 and $650.
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Bitcoin gained more than 23% in three days, adding $275 billion to its market capitalization during the sharp rebound.
Short-term holders moved 53,000 BTC to exchanges, including 17,800 BTC to Binance, marking its largest such inflow since February.
Strategy and Michael Saylor returned to a $1.87 billion unrealized Bitcoin profit as BTC recovered sharply from recent lows.
Bitcoin surged more than 23% in three days, reaching about $78,300 on Friday as Grayscale cited signs of a possible durable bottom. Bitfinex said funding cooled quickly after the breakout, while analyst Darkfost reported 53,000 BTC moving to exchanges. Meanwhile, Strategy and Michael Saylor returned to an unrealized Bitcoin profit of $1.87 billion.
Grayscale Sees Shift In Bitcoin Cycle
According to Grayscale, Bitcoin historically bottoms about 80% below its cycle peak. However, Bitcoin fell roughly 50% from its latest peak, less than previous cycles at this point. Markets had debated another Bitcoin decline in the fourth quarter of 2026.
Grayscale said risks remain, while the latest rally may indicate a more durable bottom. Bitfinex separately reported Bitcoin gaining more than 20% in one week. The exchange also noted that funding rates cooled after the initial breakout.
According to Bitfinex, leverage-driven rallies usually keep funding rates elevated. This time, funding spiked during the breakout before quickly returning to baseline.
Short-Term Holders Drive Exchange Flows
Darkfost reported that Bitcoin gained more than 7% Friday alone, closing near $78,300. Over three days, the rally added $275 billion to Bitcoin’s market capitalization. The move also brought heavier exchange inflows as traders took profits.
About 53,000 BTC reached platforms, including 17,800 BTC sent to Binance. Notably, all Binance inflows came from short-term holders who bought their Bitcoin less than one day earlier. Long-term holders, defined as six-month holders, sent no BTC to Binance.
Darkfost described the movements as speculative and non-structural. The 17,800 BTC Binance inflow marked the largest such inflow since February 2026.
Strategy Returns To Bitcoin Profit
The exchange flows came as Bitcoin posted its strongest three-day move in the supplied data. Meanwhile, Strategy and Michael Saylor moved back into profit on their Bitcoin holdings.
According to Darkfost, their unrealized profit reached $1.87 billion. The position had remained underwater since May 27. The latest Bitcoin move therefore coincided with renewed exchange activity and a rapid change in Strategy’s unrealized position.
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Builder Code protocols processed a record $984 million in perpetual volume and generated $782,000 in revenue on August 21.
LORACLE’s 685,744 HYPE short faces liquidation near $101.15 after the trader lost roughly $16 million on the position.
Multicoin deposited 427,422 HYPE worth $31.74 million into Coinbase Prime as HYPE remained above key moving averages.
Hyperliquid’s HYPE rally has coincided with record Builder Code trading, a major short under pressure, and fresh Multicoin deposits. On August 21, Builder Code protocols handled $984 million in perpetual volume and earned $782,000 in revenue. Meanwhile, Lookonchain tracked LORACLE’s short and Multicoin’s $31.74 million HYPE deposits into Coinbase Prime.
https://twitter.com/WuBlockchain/status/2091353799508328706?s=20
Builder Code Volume Sets Record
According to Blockworks Research, Hyperliquid Builder Codes reached $984 million in notional perpetual futures volume on August 21. The figure set a new daily record for Builder Code trading activity.
Builder Code protocols also generated $782,000 in combined revenue that day, the second-highest figure recorded. MetaMask accounted for $143,000, while Phantom generated $114,000. Lookonchain reported that LORACLE had lost more than $70 million on HYPE over three months.
LORACLE Short Faces Liquidation Risk
Lookonchain reported that LORACLE held a 685,744 HYPE short worth about $54.88 million. The position would face liquidation if HYPE reached $101.15, according to the platform.
However, HYPE later retraced from its all-time high, reducing LORACLE’s reported loss by about $3 million. Lookonchain then placed the trader’s loss at roughly $16 million on the HYPE short.
The price move also came alongside continued HYPE deposits from Multicoin Capital. The firm continued sending HYPE to Coinbase Prime after the token reached a new all-time high.
HYPE Holds Above Key Technical Levels
Over three days, Multicoin Capital deposited 427,422 HYPE into Coinbase Prime, worth about $31.74 million. HYPE stood around $78.257 on August 23, following a rally from the $54 to $60 consolidation area.
Price remained above the $65.66 50-day moving average and $58.39 200-day moving average. Trading volume reached roughly $902.78 million, while $83.21 remained the major resistance shown on the provided chart.
Source: Santiment
Meanwhile, $76.06 marked near-term support, followed by $68.90 to $65.66. Lower levels included $61.75 and $58.39, while the chart showed a sharp rise in price and volume. HYPE remained above both moving averages as it approached the $83.21 level.
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Hyperliquid Policy Center says 24/7 oil perpetuals can help U.S. traders manage price risk when benchmark futures markets are closed.
HPC found perpetual prices closely tracked later Bitcoin and oil benchmark reopenings, providing potential off-hours hedging signals.
The study found no statistically significant harm to WTI markets after onchain oil perpetual trading launched.
Hyperliquid Policy Center (HPC) says 24/7 oil perpetuals can give U.S. traders another way to manage price risk. Its August 2026 report compared perpetual trading with dated futures during weekend closures. It examined 205 Bitcoin weekends and 19 early oil weekends.
Weekend Trading Fills Gaps Left by Closures
The report focused on weekends when benchmark futures close while perpetual markets remain open. In March, WTI closed at $91.03 and reopened at $106.61, a 15.8% jump. The onchain oil perpetual stayed open for all 49 hours between those prices.
According to HPC, perpetuals also avoid the forced rolls required by dated futures. A $10 million benchmark position cost about $950,000 to roll on Monday in April 2026. The same trade cost about $110,000 on Friday, while perpetuals required no scheduled roll.
The report also found smaller traders using the onchain market. Median off-hours oil trades stood near $1,300, about 100 times below the median benchmark WTI trade. HPC said this reflected additional risk-transfer activity rather than demand taken from WTI.
Perpetual Prices Tracked Later Benchmark Reopenings
HPC tested whether weekend perpetual prices provided useful information before traditional markets reopened. Across 205 Bitcoin weekends, benchmark Bitcoin futures confirmed the weekend perpetual price almost exactly.
The onchain oil market showed the same pattern across 19 early sample weekends. HPC also tested a $10 million oil hedge during the March repricing. A hedger using the perpetual would have reduced a $1.58 million loss to about $62,000 after costs.
Benchmark WTI Showed No Significant Damage
The study then examined whether perpetual trading affected WTI. After the onchain oil market launched, WTI reopened with slightly tighter spreads. Trading activity also returned to normal about 46 minutes faster than expected without the perpetual market.
However, volatility remained above the model's prediction, while HPC noted that oil perpetuals have only traded for months. The report found no statistically significant harm to the benchmark market. It also addresses the CFTC's request on 24/7 futures trading and commodity-linked perpetuals.
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Jesse Pollak defended Coinbase's ETH holdings, saying the exchange remains the largest non-DAT ETH holder by a wide margin.
Pollak highlighted Coinbase's contributions to Ethereum through Base, EIP-4844, ERC-4337, USDC, cbBTC, and x402.
Ethereum community members debated Coinbase's ETH sales while Pollak urged users to recognize its broader role in the ecosystem.
Base creator Jesse Pollak pushed back against claims that Coinbase is selling ETH. He said the exchange remains the largest non-DAT ETH holder by an order of magnitude. His comments followed criticism from Ethereum community members over Coinbase’s ETH sales and its reported preference for holding Bitcoin.
Coinbase's Ethereum Role
Pollak said Coinbase has held about 150,000 ETH through multiple market cycles. Separate figures place its corporate ETH holdings between 115,000 and 151,000 ETH, worth roughly $300 million. He also pointed to Coinbase’s wider role across Ethereum.
The exchange operates Base, one of Ethereum’s layer-2 networks, which launched in 2023. Base uses ETH for transaction fees and generates ETH through its sequencer. Coinbase operates the sequencer, which orders and processes transactions on the network.
However, critics have questioned why Coinbase would sell ETH generated through Base operations. Some community members also cited the company’s reported focus on accumulating Bitcoin.
Pollak argued that the criticism overlooks Coinbase’s broader contributions to Ethereum. He pointed to its work on EIP-4844, ERC-4337 smart wallets, USDC, cbBTC, and x402.
Ethereum Community Debates Coinbase's Contribution
Ethereum Foundation member chaskin.eth also said criticism of Coinbase was misplaced. He cited Base, USDC, cbBTC, EIP-4844, ERC-4337, and x402 as examples of Coinbase’s contributions.
Pollak additionally described Coinbase as one of Ethereum’s biggest customers through Base. He said the company has also contributed significantly to EVM and Ethereum development.
Base has attracted DeFi and consumer applications while processing transactions through Ethereum. The network also reached Stage 1 decentralization, according to the supplied information.
Meanwhile, Coinbase’s position as a publicly traded U.S. exchange keeps its corporate treasury activity visible through regulatory filings. Its corporate ETH holdings remain separate from customer assets held through its custody operations.
Pollak urged the Ethereum community to stop moralizing customers who use the network. He said attacking users and participants could alienate them from the Ethereum ecosystem.
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Reg Crypto would allow qualifying issuers to raise up to $5 million over four years or $20 million or $75 million annually.
The proposal could let certain tokens exit investment-contract status after issuers complete required development work and filings.
Galaxy’s Alex Thorn says fast SEC action could bring the framework into effect before 2027, subject to comments and legislation.
The SEC proposed Regulation Crypto Assets on August 18, creating a new framework for certain token offerings. Galaxy’s Alex Thorn said the proposal could provide a regulated route for U.S. token issuance. The framework also creates a process for ending an investment contract after an issuer completes its promised work.
Reg Crypto Sets Token Issuance Rules
According to Thorn, Reg Crypto applies to crypto assets that are not securities themselves. However, the assets must have been sold through investment contracts involving promised development work.
The proposal creates two fundraising exemptions. One startup exemption would allow up to $5 million over four years. A larger exemption would allow offerings of $20 million or $75 million over 12 months.
The amount would depend on the applicable tier. Both options require filings and specific disclosures. Tier 2 offerings would also require audited financial statements. The rules would require information about token supply, release schedules, minting, burning, governance, and smart-contract permissions.
Issuers would also explain their projects and development progress. Notably, the proposal would allow some non-accredited investors to participate. Their purchases would face limits based on annual income or net worth.
SEC Creates a Path for Token Exits
Reg Crypto also addresses what happens after an issuer finishes its promised development work. Under the proposal, the related investment contract could cease to exist after required conditions and filings.
The safe harbor could also cover tokens issued years ago without using the new fundraising exemptions. Thorn said this could help address assets with unresolved securities-law status. The SEC estimates about 475 issuers could use the safe harbor annually.
It estimates roughly 130 offerings could use the two fundraising exemptions. Meanwhile, covered tokens could become immediately transferable under the proposal. The framework would also preempt certain state registration requirements.
SEC Proposal Faces Comments and Timing
The proposal does not cover exchanges, brokers, dealers, custody, or tokenized securities. Comments are due 60 days after publication in the Federal Register. The SEC canceled its August 14 open meeting before releasing Reg Crypto four days later.
Chairman Paul Atkins and Commissioners Hester Peirce and Mark Uyeda issued supportive statements. Thorn said adoption before 2027 would require a fast timetable. He also noted that Congress could still affect the framework through future legislation.
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ENA climbed from $0.083 to $0.166 as dollar-based open interest surged from $113 million to $237 million.
Coin-denominated open interest rose 23%, showing much of the dollar increase came from ENA’s sharp price appreciation.
ENA’s RSI reached 79.42 as 0.1600-0.1657 became resistance, while $0.1400 remains the nearest support.
ENA has gained nearly 70% since August 17 as dollar-based open interest more than doubled. According to Santiment Intelligence, open interest rose from $113 million on August 18 to $237 million. However, coin-denominated open interest increased only 23%, showing much of the dollar growth came from higher ENA prices.
ENA Trading Activity Expands
Santiment reported that ENA climbed from roughly $0.083 on August 17 to about $0.141. The token later reached $0.1657 on the four-hour chart before pulling back. Daily active addresses also increased to 1,946, about 2.5 times the August baseline.
Santiment said this was the highest level recorded during the period. Meanwhile, coin-denominated open interest rose from approximately 1.36 billion ENA to 1.68 billion. The increase compares with the much larger move in dollar-based open interest.
Santiment described dollar leverage as explosive, while coin-based leverage remained ordinary. The difference reflects the impact of ENA’s price increase on existing positions. Separately, the Ethena team withdrew $23.6 million worth of ENA from exchanges today. The transaction occurred during the token’s sharp price advance.
ENA Chart Shows Strong Bullish Momentum
The ENA four-hour chart shows a move from the 0.08-0.09 region toward $0.1537. The latest candle opened at $0.1558 and reached $0.1657. It later fell to $0.1364 before closing at $0.1537, representing a 1.28% decline. Trading volume reached about 290.96 million ENA during the move.
Source: TradingView
However, momentum indicators remain elevated. The RSI is at 79.42, while its moving average was around 83.13. The MACD also remained positive, with the MACD line at 0.0170. The signal line is at 0.0125, while the histogram reached 0.0045.
ENA Faces Resistance After Fast Rise
The 0.1600-0.1657 area represents the immediate resistance zone on the supplied chart. ENA’s recent high reached $0.1657 before the latest pullback. Meanwhile, $0.1400 serves as near-term support. The next support levels sit around $0.1200 and $0.1000.
The elevated RSI places ENA above the conventional 70 overbought level. The chart data therefore shows strong momentum alongside elevated volatility.
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Trump urged lawmakers to resolve ethics disputes and pass the Clarity Act when Congress returns from its August recess.
The CFTC is exploring crypto market rules under existing authority if the Clarity Act remains stalled in Congress.
The SEC proposed exemptions for crypto fundraising up to $5 million over four years or $75 million annually without full registration.
Washington had renewed crypto policy activity this week as President Donald Trump urged Congress to pass the Clarity Act. The White House meeting came as the SEC proposed its first crypto rulemaking framework and the CFTC prepared possible rules if Congress fails to act. Industry executives and regulators addressed the legislation and broader crypto market rules.
Crypto Leaders Discuss Ethics Hurdle
Trump told crypto executives to pass a “fair version” of the bipartisan bill when lawmakers return next month. He referenced ethics provisions from Sens. Thom Tillis and Ruben Gallego, which remain an obstacle to bipartisan agreement.
Before Trump’s remarks, Coinbase CEO Brian Armstrong, a16z Managing Partner Chris Dixon, Ripple CEO Brad Garlinghouse, and Kraken co-CEO Arjun Sethi met Commerce Secretary Howard Lutnick.
According to two sources familiar with the meeting, the executives discussed jobs, economic growth, and bringing crypto companies back onshore. They also discussed ethics concerns and possible White House support for a bipartisan agreement. Another source said efforts are underway to persuade Trump’s allies to accept parts of the proposed ethics deal.
Meanwhile, CFTC Chairman Mike Selig addressed the Clarity Act during Thursday’s Innovation Advisory Committee meeting. He said passing the bill would prevent another Gary Gensler from conducting what he called “lawfare.”
SEC and CFTC Prepare Separate Paths
Selig also said the CFTC could use existing authority if the Clarity Act continues to stall. He said agency staff have already begun exploring rules for crypto asset markets. The SEC separately proposed Regulation Crypto Assets on Tuesday.
The framework would permit certain offerings up to $5 million over four years or $75 million annually without full registration. It would also create a conditional safe harbor after an issuer’s essential managerial efforts end.
Additionally, the proposal would preempt some state securities registration requirements. Notably, SEC commissioners approved the proposal individually through a “seriatim” process. An SEC spokesperson confirmed the votes occurred outside a public meeting.
The SEC had canceled its planned meeting the previous Friday, citing an unforeseen scheduling issue. Crypto in America reported White House and Wall Street concerns contributed to the cancellation.
Semafor later reported a White House mix-up also contributed to the decision. Officials were reportedly unclear about which SEC proposal would advance.
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Justin Sun alleges USD1 contracts can freeze or destroy user assets, but World Liberty has not publicly responded to the claims.
The judge rejected World Liberty’s attempt to move Sun’s individual claims into confidential arbitration during the August 20 hearing.
Sun questions World Liberty’s finances, citing reported USD1 collateral and loans backed by WLFI tokens on Dolomite.
Justin Sun said a California federal judge rejected World Liberty Financial’s effort to move their dispute into confidential arbitration. Sun said the August 20 hearing kept his individual claims in public court, while the judge ordered both sides to negotiate which company-related claims belong in arbitration and whether related filings remain public.
https://twitter.com/WuBlockchain/status/2090994702875238673?s=20
Sun Challenges USD1 Controls
Sun accused World Liberty of adding backdoor functions to its USD1 stablecoin. He said the functions could let the project freeze or destroy user assets. The claims follow Sun’s allegations involving WLFI tokens.
He said he invested $45 million and alleged World Liberty used contract controls to freeze, restrict, or destroy his tokens. Sun said the court barred World Liberty from destroying, impairing, reallocating, or permanently disposing of his tokens. His lawsuit seeks hundreds of millions.
However, World Liberty has not publicly responded to his latest remarks. Sun said he has not seen evidence that World Liberty holds enough capital outside USD1 collateral to cover his claims.
Sun Questions World Liberty Finances
Sun said USD1’s reported market capitalization stands near $4 billion. He described that amount as user collateral backing the stablecoin. He argued those assets cannot satisfy court judgments tied to his claims.
He cited reports that World Liberty deposited about $5 billion of WLFI tokens as collateral on Dolomite. According to those reports, World Liberty borrowed at least $75 million in stablecoins, including USD1.
Sun noted that Dolomite’s co-founder is World Liberty’s chief technology officer. He compared the reported lending structure with leveraged arrangements linked to Sam Bankman-Fried’s FTX fraud.
Sun Raises Dough Finance Concerns
Sun also referenced World Liberty co-founder Chase Herro and his previous involvement with Dough Finance. Investors sued over a reported hack involving assets allegedly moved into Herro’s wallet.
Public reports said many Dough Finance participants later became involved with World Liberty. Sun also referenced his earlier dispute with ARIA over about $500 million in TUSD collateral.
He said ARIA agent Vincent Chok later launched FDUSD through First Digital Trust. Sun cited FDUSD’s later depeg and Binance delistings while urging investors to conduct due diligence.
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IBM remains under pressure monthly, despite a modest daily gain that suggests stabilization rather than a confirmed trend reversal.
The Bitcoin rally story was picked up after Jim Cramer's claim to have sold, bringing back the ever-popular market conversation on the subject of contrarian investing.
Elevated Treasury yields and crude oil prices add important context as investors assess broader risk appetite across markets.
The Bitcoin rally speculation is heating up again, with Jim Cramer reportedly dumping his holdings prior to a rally in the price of Bitcoin, resurfacing the ever-so-popular contrarian sentiment.
IBM Shows Weak Monthly Performance
Alex Marzell shared the claim that Cramer sold Bitcoin before the latest pump. The post quickly framed the timing around the familiar “Inverse Cramer” narrative. However, the supplied market graphic focuses primarily on IBM and economic indicators.
https://twitter.com/MarzellCrypto/status/2090690110765531187?s=20
IBM trades at $221.99 with an intraday gain of 0.11%. The small increase is starkly contrasted to the apparent 21.96% monthly drop. The figures show short-term stabilization within a broader period of weakness.
The chart covers trading activity from July 1 through July 31. IBM initially traded around much higher levels before entering a steep decline. Selling eventually pushed the stock toward the $220 region.
Near the end, price appears to establish a flatter trading area. The modest recovery has not yet reversed the broader monthly decline. Therefore, the displayed structure remains more defensive than decisively bullish.
Macro Data Shapes the Market Backdrop
The CNBC panel references several economic indicators alongside IBM's market performance. These include the Employment Cost Index, Chicago PMI, and Consumer Sentiment. Their inclusion places the stock movement within a broader economic context.
The market panel showing 10-year Treasury yields is at 4.724%. The 30-year Treasury yield is displayed at 5.253% in the meantime. The readings give investors more context when evaluating risk in financial markets.
Crude oil is also displayed around $85.82 in the lower market section. The Energy Select Sector ETF appears near 58.85 as well. Together, these figures show several markets moving within the same information frame.
The combination creates a broader backdrop for interpreting risk assets. Treasury yields, economic indicators, and energy prices can shape market expectations. However, the supplied image does not provide detailed readings for each economic indicator.
Cramer Timing Fuels Contrarian Discussion
The Bitcoin narrative comes from Marzell's accompanying social media post. It claims Cramer sold Bitcoin shortly before the cryptocurrency began moving higher. The timing has consequently revived discussion around the “Inverse Cramer” trading meme.
Separate reporting cited in the supplied material links Cramer's decision to quantum computing concerns. That explanation differs from simply making a bearish market call. Therefore, the reported sale should not automatically be treated as a directional Bitcoin forecast.
The image itself contains no Bitcoin price chart or Bitcoin trading data. Instead, it displays IBM alongside economic indicators and Treasury yields. The cryptocurrency narrative therefore remains separate from the technical evidence shown visually.
That distinction matters when assessing the broader market story. A sale followed by a subsequent rally does not establish that one caused another. Price direction still requires confirmation through market structure, volume, liquidity, and sustained participation.
The IBM chart offers a useful example of that distinction. A small daily gain can occur without changing a larger monthly trend. Likewise, a Bitcoin move following a reported sale does not independently validate the contrarian narrative.
For the broader market, the supplied data points toward a mixed environment. IBM remains substantially weaker monthly, while Treasury yields remain elevated. Against that backdrop, Bitcoin's reported strength needs to be judged through its own price action rather than Cramer's timing alone.
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