🚀August has been eventful: the #market shows volatility, #institutions are strengthening their positions, and governments are introducing new rules.
📉 $BTC and the market in correction
$BTC has dropped to $119K (-2%), $ETH — -1.4%, $SOL — -3%, $XRP — -3.2%.
The total capitalization decreased by 2.4% — to $4.12 trillion. The reason is the rise in inflation expectations in the #USA and the strict stance of the #Fed.
But institutions continue to buy:
Inflows into $ETH-ETF — $639 million
Inflows into $BTC-ETF — $231 million
👉 A strong signal of trust from the funds.
🏦 #Gemini goes for #IPO
The Winklevoss brothers' exchange has filed for #NASDAQ under the ticker GEMI.
📊 Half-year results: $68.6 million in revenue and a loss of $282.5 million.
Despite the loss, interest in the IPO is high — among underwriters #GoldmanSachs and #Citigroup.
💼 #BlackRock holds $104 billion in crypto
The world's largest asset manager has increased its crypto portfolio to record levels.
The foundation consists of $BTC, reinforcing its position as 'digital gold'.
⚖️ #GENIUSAct and Bitcoin reserves in the #USA
🇺🇸 The new law requires 100% backing of #stablecoins with dollars or low-risk assets.
Additionally, a #StrategicBitcoinReserve has been created — a digital analog of gold and currency reserves.
This is a step towards transparency and long-term stability of the #crypto market.
🤝 #Binance + #BBVA: partnership for trust
#Binance has signed an agreement with the Spanish bank #BBVA. Now users can store assets off-exchange — through a custodian, with support for #US bonds.
🔐 This minimizes risks and increases trust in the platform.
🔥 Summary
#volatility persists, but #institutions continue to strengthen their positions.
#exchanges are entering the stock markets.
#USA sets new regulatory standards.
#Binance strengthens trust through partnerships with banks.
👉 The #crypto market is becoming increasingly mature and institutional, which means more #transparency, #reliability, and new opportunities for users.