$ETH Nansen Says Ethereum Spot Buying Surges 7.2-Fold Ahead of US CPI. Ethereum accumulation is building ahead of the Aug. 12 US consumer price index release, according to on-chain analytics platform Nansen. Nansen said on Aug. 11 that spot Ether purchases by institutional investors, including asset managers, had climbed to 7.2 times the usual level. Professional traders, however, maintained net short positions in Bitcoin and Ether derivatives, signaling caution over inflation and the possibility of further interest-rate hikes. Ether traded at $1,863.71 on Binance's USDT market as of 4:10 a.m. on Aug. 12, down 0.59% from a day earlier. $ETH #Ethereum
$XRP is underperforming the broader crypto market, with renewed investor interest in UE Crypto’s cloud mining and yield services. A weaker $XRP price and uncertainty around the Digital Asset Market Clarity Act are prompting holders to explore alternative income strategies through UE Crypto. UE Crypto is positioning its cloud mining platform as an option for $XRP holders seeking additional digital asset returns without relying solely on price appreciation#xrp
$XRP continues to underperform amid market uncertainty and delays surrounding the Digital Asset Market Clarity Act, while UE Crypto gains attention for yield options.
Solana co-founder Toly responded on August 10 to criticism that the Solana Foundation strongly supported Phoenix and caused Flash.Trade to shut down. According to PANews, he said the foundation cannot guarantee product success and that its role is limited to early promotional support when a product launches. Toly said that if another product competing with Phoenix is launched, the foundation can try to help that team get started. He added that the amount of attention and the final outcome depend on the product itself, including whether it is novel, good, and liked by users for its marketing story. $SOL