Summary
gm, The Ethereum ecosystem showed particular strength despite market volatility. Ether spot ETFs have seen remarkable growth, with inflows surging 44% since early August to reach $13.7 billion, while corporate treasuries now hold 4.4 million ETH (3.7% of total supply). Meanwhile, the Ethereum Foundation announced a strategic shift in its funding approach, pausing open grant applications to focus on more curated ecosystem priorities. On the regulatory front, the US Senate is preparing to consider the Responsible Financial Innovation Act by the end of September, potentially bringing clarity to crypto market structures, while El Salvador enhanced its Bitcoin security by redistributing its 6,274 BTC holdings across multiple wallets to mitigate quantum computing risks.

News Headlines
📉 Bitcoin Breaks Below Key Multiyear Support Trendline

  • Bitcoin has fallen below a critical multiyear trendline support, dropping over 13.75% from its peak of $124,500, raising concerns about a potential deeper correction that could test the $80,000-$100,000 range.
  • Some analysts suggest this breakdown might be a "fakeout," noting that historical significant drops were often followed by stronger market recoveries, with one analyst even predicting a future peak of $280,000.

📊 5 Signs That Ethereum's Bull Market Isn't Over Below $5K

  • Despite a 12% pullback from its all-time high of $4,950, Ethereum shows strong bullish indicators including persistent ETF inflows exceeding $13.7 billion since July 2024 and record high network activity (monthly transactions up 57%).
  • Technical indicators suggest potential for prices around $12,130, supported by ETH gaining 195% against Bitcoin since April and a significant MACD signal occurring for the first time in five years, similar to patterns that preceded substantial price increases.

🔄 Tether Scraps Plan to Freeze USDT on Five Blockchains

  • Tether has abandoned its plan to freeze USDT smart contracts on Omni Layer, Bitcoin Cash SLP, Kusama, EOS, and Algorand blockchains after receiving feedback from the communities involved.
  • Users can still transfer tokens on these chains, but Tether will no longer issue or redeem USDT on them, with Omni Layer being most affected as it holds approximately $82.9 million in USDT circulation.

📱 Sanctum V2 Expands to Solana's Transaction Delivery Layer

  • Sanctum (previously Socean) has transformed liquid staking on Solana by offering white-label services for launching liquid staking tokens and a shared liquidity reserve, allowing anyone with SOL to create their own LSTs without needing a large buffer.
  • The platform recently launched Gateway—designed to enhance transaction inclusion on Solana through full-stack transaction observability across various RPC providers, operating on a pay-as-you-go model.

🏦 Japan Launching First Yen-Backed Stablecoin Later This Year

  • Japan is set to launch its first fully collateralized, yen-backed stablecoin later this year, signaling a significant shift in the country's previously conservative approach to stablecoin technology after establishing a regulatory framework two years ago.
  • Monex Group is also considering launching a yen-backed stablecoin to improve yen-denominated international remittances, highlighting Japan's emergence in the stablecoin market and growing interest in crypto from traditional financial institutions.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
⚖️ Supreme Court Opens Crypto Wallets To Surveillance

  • The US Supreme Court's June 2025 ruling endorsed the IRS's use of "John Doe" summonses for cryptocurrency records, establishing that onchain transactions lack Fourth Amendment protections.
  • This decision allows authorities to access blockchain financial information without warrants, creating significant privacy concerns as blockchain forensics firms capitalize on this vulnerability.

🏦 IRS Digital Assets Office Faces Leadership Crisis

  • The IRS is experiencing a leadership crisis as Trish Walker, chief of the digital assets office, departs shortly after taking her position, joining two other officials who left for the private sector.
  • Despite anticipated increases in crypto-related tax filings and the new 1099-DA form requirements, Congress has yet to implement significant changes to crypto tax laws.

🏛️ Indian Court Sentences 14 to Life in Bitcoin Extortion Case

  • An Indian anti-corruption court has sentenced 14 individuals, including 11 police officers and a former BJP MLA, to life imprisonment for the kidnapping and extortion of cryptocurrency.
  • The case involved the abduction of businessman Shailesh Bhatt, who was beaten into confessing he had received 752 Bitcoin and forced to transfer a portion of his holdings.

⚔️ DeFi Will Survive Regulatory "Walled Garden" Attempts

  • Fold CEO Will Reeves argues that decentralized finance protocols will endure despite government and corporate attempts to impose traditional financial regulations on the sector.
  • Reeves compared current regulatory efforts to historical attempts to control information flow on the internet, suggesting that such restrictions will ultimately backfire.

🌐 US and Dutch Authorities Shut Down Crypto-Based Fake ID Marketplace

  • Dutch and US authorities have dismantled VerifTools, a major fake ID marketplace that generated $6.4 million by selling counterfeit documents for as little as $9 in cryptocurrency.
  • The operation involved seizing 23 servers, including two in Amsterdam, after investigations by both the FBI and Dutch cybercrime police into the platform's estimated €1.3 million annual turnover.

Technical Analysis
Bitcoin - Bitcoin shows weak development in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The currency has broken down through support at points 110000. This predicts a further decline. The short term momentum of the currency is strongly negative, with RSI below 30. This indicates increasing pessimism among investors and further decline for Bitcoin. However, particularly in big stocks, low RSI may be a sign that the stock is oversold and that there is a chance for a reaction upwards. The RSI curve shows a falling trend, which supports the negative trend. The currency is overall assessed as technically negative for the short term.

Ethereum - Ethereum has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The currency has support at points 3880 and resistance at points 4800. The currency is assessed as technically neutral for the short term.