Tag: crypto

  • Lagrange price rockets 80% amid listing on South Korea’s largest crypto exchange

    Lagrange price rockets 80% amid listing on South Korea’s largest crypto exchange

    Bitcoin Soared Amid Wall Street Gains

    • Lagrange price skyrocketed by over 80% after South Korea’s largest crypto exchange, Upbit, announced trading support.
    • Upbit also listed Lombard, a Bitcoin DeFi protocol.
    • Both BARD and LA tokens pared gains amid rising profit-taking.

    Lagrange (LA), a zero-knowledge (ZK) infrastructure project, saw its price skyrocket by more than 80% following a listing announcement by Upbit, South Korea’s leading cryptocurrency exchange.

    As Upbit’s move sparked widespread interest, LA price reached intraday highs of $0.64 and ranked among the top gainers as it outpaced the likes of Wormhole, EigenLayer and Pudgy Penguins.

    Lombard, another token landing on Upbit, witnessed a sharp spike before swiftly paring gains amid profit-taking.

    Lagrange price soars 80% after Upbit listing announcement

    As noted, upward momentum for Lagrange gained traction with the announcement of its listing on Upbit.

    In an update, Upbit said it would list LA for spot trading against the Korean won, with the BARD/KRW pair available at 19:30 pm local time on Sept. 18.

    Following the news, LA’s price spiked by more than 80%, pushing the token’s value to highs of $0.64.

    LA price had hovered at lows of $0.35 prior to Upbit’s announcement.

    The price surge aligns with historical trends that have seen newly listed tokens, particularly on major exchanges like Upbit, go parabolic amid significant volatility.

    Lagrange price chart by CoinMarketCap

    Upbit also lists the Bitcoin DeFi platform Lombard

    South Korea’s Upbit has also expanded its list of supported cryptocurrencies with the listing of  Lombard (BARD).

    The exchange announced trading support for the native token of the Bitcoin DeFi platform on Thursday, adding trading pairs for BTC and Korean won.

    Upbit’s listing of BARD adds to the growing number of tokens that have found traction on the leading crypto exchange in South Korea.

    Investors interested in leveraging Bitcoin’s stability for DeFi applications will fancy Lombard, which aims to bring Bitcoin-based capital markets on-chain, and rallied amid a confluence of other factors too.

    BARD and LA price outlook

    Lagrange’s zero-knowledge proof generation platform has attracted support from global giants such as Nvidia, ZKSync developer Matter Labs and Polygon.

    Meanwhile, Lombard is a project looking to tap into Bitcoin’s growing DeFi ecosystem. Analysts note that both tokens are riding exchange momentum.

    Nonetheless, volatility may engulf both before a steadier growth trajectory emerges.

    As of writing, LA traded around $0.48, sharply paring gains amid a staggering 1,120% spike in daily trading volume.

    BARD meanwhile hovered around $1.08, again having sharply retreated from its intraday peak of $1.61.

    Analysts expect the buzz around these tokens will cool off and likely add to downward pressure.

    However, the overall broader market sentiment is bullish.

    As such, holding key levels at $0.40 and $1 could be key to LA and BARD’s short term price outlook.

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  • Bitcoin calm, altcoins surge: Fed cut ushers in new chapter for crypto markets

    Bitcoin calm, altcoins surge: Fed cut ushers in new chapter for crypto markets

    • Bitcoin steady at $116K as Ethereum, Dogecoin, Solana, and XRP rally strong.
    • XRP and Dogecoin ETFs debut in US, unlocking fresh mainstream investor demand.
    • Fed rate cut sparks hope for a new crypto rally not seen since the 2021 bull run.

    The crypto market woke up to a new monetary landscape after the US Federal Reserve delivered its long-awaited rate cut, lowering borrowing costs by 25 basis points.

    Unlike past years when central bank decisions would send digital assets lurching in one direction, Wednesday’s policy pivot sparked a measured response from market heavyweights, even as traders searched for the next big catalyst.

    Bitcoin steady, altcoins lead gains

    Bitcoin proved its maturity by brushing off early choppiness. The world’s leading crypto hovered just above $116,000 for most of the day, slipping a modest 0.35% in a session marked by tight range-trading and lower-than-average spot volumes.

    For seasoned market watchers, the calm felt telling: Wall Street’s risk radar may be shifting, but Bitcoin continues to march to its own beat.

    Ethereum took the baton and ran with it. The second-largest cryptocurrency jumped 2.5%, breaking through the $4,600 mark in early trade.

    Bulls pointed to optimism that cheaper money will revive DeFi and NFT activity, while a pickup in staking metrics added further tailwind.

    Meme coin faithfuls celebrated a minor breakout as Dogecoin surged 5.5%. Blame it on lighter liquidity, or credit it to the social media machine, either way, DOGE’s run was the day’s standout among retail traders.

    Solana, meanwhile, snapped back 3.9% to trade near $245, with bullish developer news propelling fresh capital into the ecosystem.

    Not to be left out, XRP managed a 1.8% pop, riding a string of solid inflows and a brewing rumor mill over new ETF products.

    Investors will be watching closely: if the Fed signals more cuts ahead, the tide for high-beta risk assets could turn decisively, something crypto bulls haven’t had in their favor since 2021.

    New XRP, DOGE ETFs shine; LayerZero makes waves

    While prices grabbed headlines, the day was just as busy beyond the charts.

    For starters, US investors got their first taste of XRP and Dogecoin ETFs, thanks to listings from REX Shares and Osprey Funds.

    It’s a landmark moment for altcoin access on mainstream platforms, and early volume figures suggest significant pent-up demand among both retail and institutional players.

    Elsewhere, LayerZero, an up-and-comer in the cross-chain arena sealed its $110 million acquisition of Stargate, with overwhelming backing from the Stargate DAO.

    The move was widely interpreted as a signal that decentralized finance is firmly in “consolidate and build” mode as competition heats up just below the major protocols.

    With macro currents swirling and new products landing on the scene, digital assets are poised for a lively finish to September, one in which both the cautious and the bold can find opportunity.

    All eyes are now on the next signals from Washington and Wall Street to see if crypto’s comeback rally truly has legs.

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  • Bitcoin leads rally amid Fed rate cut hopes, major ETFs boost crypto outlook

    Bitcoin leads rally amid Fed rate cut hopes, major ETFs boost crypto outlook

    Crypto Wrap: Bitcoin rallies over 4%, fueled by hopes of a Fed rate cut.

    • Bitcoin rallies over 4%, fueled by hopes of a Fed rate cut.
    • Solana, Dogecoin, and XRP gain momentum on upgrades and ETF excitement.
    • Token unlocks and Fed easing are set to reshape crypto markets this quarter.

    Crypto markets woke up on Wednesday with a spring in their step, charging higher as investors braced for a major central bank event.

    Bitcoin set the pace, rallying over 4% to clear the $116,000 mark, fueled in large part by growing bets that the US Federal Reserve is finally ready to deliver an interest rate cut on Wednesday.

    As rate-cut speculation took center stage, Bitcoin’s market cap soared to well over $2 trillion, cementing the number-one crypto’s dominance after weeks of volatile swings.

    Markets eye Fed-driven breakout

    Ethereum, the world’s top smart-contract platform, held strong above the $4,500 threshold. Investors have been piling into ETH on prospects for a supply squeeze, as well as ongoing accumulation by institutional players positioning ahead of the Fed’s meeting.

    Traders argued that a successful breakout above the stubborn $4,800 technical resistance could spark a new phase of risk-on flows across crypto, especially if macro conditions cooperate in the coming weeks.

    Solana added even more energy to the rally, gliding near $240, as a string of protocol upgrades and surging developer momentum fueled optimism about the network’s long-term prospects.

    Major exchanges reported large spot inflows, and Solana’s rapid-fire transaction speeds kept it in the conversation as a serious contender among the leading altcoins.

    Meme-friendly Dogecoin, ever the wild card, hovered around $0.27, down slightly on the day, but still up more than 100% from a year ago.

    Increased social activity and new integrations have helped Dogecoin keep its playful reputation, as trade volumes remain lively whenever the broader market shifts.

    Meanwhile, XRP is holding just under $3, stuck in a tight range as markets anxiously anticipate the launch of the first US spot XRP ETF on September 18.

    Speculation around the ETF’s potential inflows and its possible effect on price has helped XRP stay in focus despite the broader sector’s roller-coaster action.

    Technical watchers say a rally through $3.18 could unleash a new round of bullish momentum for Ripple’s token.

    Crypto industry poised for Q4 shakeup

    It isn’t just price charts and volatility levels dictating sentiment this week: all eyes remain locked on Washington as the US Federal Reserve kicks off its most consequential policy meeting in recent memory.

    With inflation trending lower and unemployment ticking up, markets broadly expect Fed Chair Jerome Powell to announce a 25 basis point rate cut, the first since 2020.

    For crypto, where high-growth bets are directly tied to easier money, the Fed’s pivot could drive a decisive shift in market psychology.

    “Fed easing typically gives permission for the crypto rally to keep going,” said one strategist.

    Many in the industry expect fresh liquidity to spark increased inflows, particularly into blue-chip tokens like Bitcoin and Ethereum, and may even encourage more institutional adoption as risk appetite returns.

    Away from the Fed drama, September is seeing a tidal wave of token unlocks, as over $4.5 billion in coins come into circulation across high-profile projects like Sui, Aptos, Ethena, and Arbitrum.

    While some worry about the impact of new supply, others view it as a crucial stress test for market depth and investor demand.

    Finally, excitement around the pending debut of the first US-based spot XRP ETF may mark a turning point for altcoins.

    If the ETF attracts robust inflows, along the lines of Bitcoin and Ethereum ETFs launched earlier this year, it could shift the narrative and trigger sustained price rallies in the sector.

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  • Sui price rises as broader crypto market bounces

    Sui price rises as broader crypto market bounces

    • Sui price is poised above $3.60 as bulls target key level.
    • The SUI all-time high price is around $5.35 and achievable as Sui total value locked hits $2 billion.
    • Bulls eye $4.12 resistance, while bears target $3.20 if momentum weakens.

    Sui price has a modest increase over the last 24 hours, but has reached highs of $3.70 as the broader crypto market signals an upward rally.

    Coins such as Ethena, Pendle and Ondo have gained significantly amid Bitcoin’s retest of $115k and Solana’s breakout to $240.

    As the 24-hour trading volume holds around $949 million, the SUI price looks poised for an uptick towards its all-time high above $5.35.

    Decentralized finance and web3 adoption growth see Sui’s position as a frontrunner, potentialy setting the stage for the native token’s surge.

    Sui price surge- what’s fueling bulls’ momentum?

    Sui overcame a network setback in early 2025 when an ecosystem project got hacked.

    The token has since bounced off lows of $1.91 to retest highs of $4.32.

    The Move programming language project has gained attention due to its scalability and interoperability, putting it among the top coins attracting buyer attention.

    While Ethereum and Solana dominate altcoin sentiment, the technical outlook for SUI is setting up bulls for a retest of its ATH.

    Developer activity, daily active wallets and DeFi TVL surge all point to Sui’s strength.

    There are also ecosystem expansions, including the integration of zkLogin for seamless user onboarding.

    As well, Sui has boasted initiatives like the Strategies yield aggregator that amassed millions of dollars in deposits within weeks.

    Sui’s focus on gaming, NFTs, and DePIN projects has diversified revenue streams, with a stablecoin market cap jumping above $793 million.

    Network revenue has increased too, while platforms such as Suilend, NAVI and Bluefin are helping to push the total value locked in Sui protocols across DeFi to over $2 billion.

    The crypto market’s attraction for Wall Street amid a scramble for digital asset treasuries is another catalyst for the Sui price.

    SEC’s impending approval of new crypto exchange-traded funds, including filings for Sui, has also buoyed bulls.

    What’s the price outlook for SUI?

    With multiple signals converging to suggest a breakout above key resistance levels in the near term, trading above $3 is crucial for SUI.

    It may be the step buyers need to maintain a bullish long-term trend.

    Relative Strength Index hovers at 55, and reflects a neutral momentum that gives room for further growth before bulls hit the overbought territory.

    The Moving Average Convergence Divergence also supports an upward run with a bullish crossover.

    Sui price chart by TradingView

    A look at the chart suggests $3.70 is a key level, and breaking the immediate $4.12 resistance could trigger a measured move to $5.

    The all-time high is within range above this level.

    Conversely, a bearish flip will bring Sui price to support around $3.20. Bears may also target buyers’ safety net around $2.61, should any pullback activity strengthen.

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  • LAUNCHCOIN price pump leads to $4m loss for crypto trading firm

    LAUNCHCOIN price pump leads to $4m loss for crypto trading firm

    • Launch Coin on Believe price rose suddenly, jumping 60% to highs of $0.118.
    • Gains saw a surge in liquidations, with crypto trading firm.

    Launch Coin on Believe (LAUNCHCOIN) price surged nearly 60% in early trading on Tuesday, with the altcoin’s sudden pump leading to significant losses for shorts.

    The token’s rapid price increase also triggered a cascade of liquidations, with on-chain data showing a liquidity provider suffered losses of over $4 million.

    Launch Coin on Believe price sees sudden 60% pump

    Cryptocurrencies like Worldcoin and MYX Finance are riding bullish news to top gainers charts over the past 24 hours. Meanwhile, small cap token LAUNCHCOIN is also attracting social chatter.

    As noted, the Launch Coin on Believe price experienced a sharp price surge amid a nearly 60%  spike. Trading around $0.076 in early deals during the Asian session, LAUNCHCOIN suddenly pumped to $0.132.

    LAUNCHCOIN chart by TradingView

    This sudden jump accounted for a 60% rise that hit many traders betting on a continued consolidation or downturn.

    With intense buying pressure, driven by speculative trading and potential market manipulation, LAUNCHCOIN saw its daily trading volume skyrocket.

    According to CoinGecko, the rapid ascent pushed volume on centralized crypto exchanges such as LBank and Bitget 540% up, and stood around $255 million in 24 hours.

    The more than fourfold increase in volume from the day before attests to the sharp uptick in market activity.

    $4 million loss amid cascade of liquidations

    While buyers celebrated the meteoric price surge, LAUNCHCOIN’s gains saw a notable market player suffer significant losses.

    According to analytics account Lookonchain, a wallet linked to the market maker GSR suffered one of the biggest losses as the token’s price rose.

    The wallet, shown to have been hedging a short position on LAUNCHCOIN, was fully liquidated. It meant a loss equivalent to $4 million as GRS Market’s other positions saw a cascade of liquidations on decentralized exchange Hyperliquid.

    As liquidation on LAUNCHCOIN’s gains hit the leveraged positions betting against a price increase, other positions too were wiped out. Lookonchain notes GRS Market’s other short positions caught in the carnage included Mantle, Popcat, Chainlink and Lido DAO.

    “The liquidation of #GSRMarkets’ short position triggered a domino effect, wiping out their other shorts on $MNT, $POPCAT, $LINK, and $LDO, and zeroing out the account,” Lookonchain posted.

    LAUNCHCOIN’s price currently hovers around $0.091, slightly off its intraday high. The $0.08 level, above which bulls took charge for the spike, is likely to be critical if price falls further.

    As LAUNCHCOIN looks for a decisive move, analysts say the event highlights how the cryptocurrency trading market can offer opportunity but also be a brutal arena with fortunes shifting in an instant.

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  • Crypto update: Why Bitcoin is stalling while Ethereum eyes a breakout

    Crypto update: Why Bitcoin is stalling while Ethereum eyes a breakout

    Crypto update: Why Bitcoin is stalling while Ethereum eyes a breakout

    • A major split is emerging between Bitcoin and Ethereum in the market.
    • Bitcoin is acting as a macro hedge, holding steady around $112,000.
    • Traders are actively positioning for upside in Ethereum, eyeing $5,000.

    A profound and telling split has fractured the cryptocurrency market.

    Bitcoin, the long-reigning king, has settled into a stoic holding pattern, a defensive fortress against the gathering storms of macroeconomic uncertainty.

    But the real action, the aggressive positioning for explosive growth, is happening in a different court.

    A great rotation is underway, and traders are increasingly placing their bets on a new champion to lead the charge into September: Ethereum.

    The fortress: Bitcoin as a macro hedge

    Bitcoin is currently stuck in consolidation, trading near $112,000. But its lack of upward momentum is, paradoxically, part of its emerging narrative.

    It is increasingly being treated not as a speculative growth asset, but as a steady macro hedge, a digital counterpart to gold.

    This view is being driven by the deep uncertainty emanating from Washington.

    In a recent note, QCP Capital wrote that persistent doubts about the Federal Reserve’s independence are keeping risk premiums elevated, a dynamic that weakens the dollar and directly supports hedges like Bitcoin and gold.

    The options market tells a similar story of defense.

    Flowdesk reported muted implied volatility in Bitcoin, suggesting traders are positioning for stability, not a breakout.

    The skew remains negative, meaning puts are expensive—a clear sign that the market is paying a premium for downside protection.

    The spearhead: Ethereum as the engine of ascent

    While Bitcoin holds the defensive line, Ethereum is being positioned as the market’s spearhead. This is where traders see the real potential for a September breakout.

    The data is clear: ETH risk reversals have recovered sharply from their recent selloff, indicating a renewed and aggressive demand for upside exposure.

    Prediction markets are validating this theme with real-money bets. Polymarket sentiment shows traders expect Bitcoin to remain capped near $120,000, while giving Ethereum a strong chance of breaking the coveted $5,000 mark.

    This view is consistent with its powerful 20 percent rally over the past month and the surging institutional interest being funneled through ETF inflows.

    The widening rebellion

    This rotation is not just a two-horse race. The renewed appetite for risk is broadening, with capital flowing into a wider array of altcoins. Solana (SOL) options have seen a surge in activity, with flows heavily skewed to the upside.

    At the same time, spot activity has rotated into so-called “ETH beta” names like AAVE and AERO, as well as “SOL betas” like RAY and DRIFT.

    This is a crucial sign that market breadth is improving, as conviction spreads beyond the majors.

    The market is sending a clear, if complex, signal. The macro chaos is reinforcing Bitcoin’s role as a hedge against inflation and institutional decay.

    But the momentum, the capital flows, and the speculative energy are all gathering in the court of its challenger.

    The stage is set for a fascinating and potentially volatile September, where the fortress and the spearhead will finally have their mettle tested.

    Market updates:

    BTC: Bitcoin remains in a consolidation phase around the $110,000–$112,000 range, marked by waning short‑term volatility.

    ETH: ETH is trading near $4,400. Its rally is being fuelled by surging institutional interest, especially via ETF inflows, and anticipation surrounding the upcoming Fusaka network upgrade.

    Gold: Gold is trading around record highs, propelled by expectations of an imminent Federal Reserve rate cut (markets now price in about a 92% chance), weakening confidence in Fed independence, and increased demand from conviction buyers like ETFs and central banks.

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  • US SEC, CFTC clear path for registered firms to trade spot crypto

    US SEC, CFTC clear path for registered firms to trade spot crypto

    US SEC, CFTC clear path for registered firms to trade spot crypto

    • Top US regulators have jointly cleared a path for spot crypto trading.
    • The move is a stark reversal from the previous, more skeptical administration.
    • Registered exchanges are now invited to engage with the SEC and CFTC.

    The floodgates to the heart of the American financial system have been thrown open.

    In a landmark and coordinated move, the nation’s top markets watchdogs have given their official blessing for registered trading platforms to deal in spot crypto assets, a stark and powerful reversal that signals a new, pro-innovation era for the digital asset industry.

    The joint statement from the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on Tuesday is the clearest sign yet of the tectonic shift in Washington’s approach to cryptocurrency.

    Under the previous administration, the industry was met with hesitation and skepticism.

    Now, under regulators appointed by the avowedly pro-crypto President Donald Trump, a wide and clear path is being paved for digital assets to integrate into the existing financial system.

    A coordinated push from the top

    This is not a tentative step, but a coordinated sprint.

    The agencies revealed that under the SEC’s “Project Crypto” and the CFTC’s ongoing “crypto sprint,” their leaders are actively pushing to fulfill President Trump’s mandate to establish the US as the world’s preeminent crypto hub.

    The regulators declared their unified view that existing, regulated exchanges “are not prohibited from facilitating the trading of certain spot crypto asset products.”

    This includes CFTC-registered designated contract markets (DCMs) and SEC-registered national securities exchanges (NSEs).

    In a clear invitation to Wall Street, the agencies are now encouraging such entities to contact their staff to figure out how to move forward.

    The philosophy behind the move was articulated by the leaders themselves.

    “Market participants should have the freedom to choose where they trade spot crypto assets,” said SEC Chairman Paul Atkins in a statement.

    His counterpart at the CFTC, Acting Chairman Caroline Pham, echoed this sentiment, calling the joint statement “the latest demonstration of our mutual objective of supporting growth and development in these markets, but it will not be the last.”

    Clearing the path as Congress deliberates

    While the statement did not detail which specific cryptocurrencies would be covered, referring only to “certain spot crypto asset products,” its intent is unmistakable.

    The regulators are acting decisively, using their existing authorities to open the financial system to crypto now, even as Congress continues its slow and deliberate work on a more sweeping set of market rules.

    This move also directly addresses one of the most persistent and problematic holes in US crypto oversight: the CFTC’s historical lack of clear authority to fully regulate the spot market, where the actual assets are changing hands.

    By inviting registered firms to engage, the agencies are effectively building a regulatory bridge while the legislative foundation is still being laid.

    The message to the financial world is clear: the era of waiting is over, and the time to build is now.

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  • Bitcoin, Ethereum hold steady as crypto braces for a historically brutal September

    Bitcoin, Ethereum hold steady as crypto braces for a historically brutal September

    Bitcoin, Ethereum hold steady as crypto braces for a historically brutal September

    • The crypto market is bracing for “Red September,” its historically worst month.
    • The Crypto Fear and Greed Index has plummeted into the “fear” zone.
    • Bitcoin is holding critical support around the 108,000 dollar level for now.

    A fragile and deceptive calm has settled over the cryptocurrency market as September begins, a quiet start to what history warns is the cruelest and most unforgiving month of the year.

    While prices are holding steady for now, a powerful undercurrent of fear is gripping traders, as seasonal weakness collides with a high-stakes macroeconomic picture, setting the stage for a potentially volatile and brutal few weeks.

    The shift in sentiment has been swift and severe.

    The Crypto Fear and Greed Index, a key barometer of market psychology, has plummeted from a confident 75 out of 100 in mid-August to just 46 today, plunging the market from “neutral” territory deep into the “fear” zone.

    It is the worst reading since the dark days of mid-June.

    This growing anxiety is rooted in the hard data of market history. Since 2013, Bitcoin has dropped an average of 3.77 percent every September, a grim and consistent pattern that has earned the month its ominous nickname: “Red September.”

    The Battle for $108,000

    For now, a tense battle is being waged on the charts. Bitcoin is showing a flicker of resilience, holding above the psychologically critical $108,000 support level.

    But a deeper look at the technical indicators reveals a market on a knife’s edge, caught in a state of profound indecision.

    The Average Directional Index (ADX) is hovering at 20, a reading that suggests a choppy, directionless market.

    At the same time, the Relative Strength Index (RSI) at 40 is flashing a clear warning: the “Red September” effect is taking hold, with selling pressure beginning to dominate.

    The Squeeze Momentum Indicator confirms this, showing that while a big move may not be imminent, the underlying trend remains distinctly bearish.

    The most telling sign may be in the exponential moving averages (EMAs). While the broader configuration remains bullish, with the 50-day EMA above the 200-day EMA, the gap between the two is ominously starting to close.

    This signals a dangerous deceleration of the bullish trend and raises the specter of a “death cross,” a technical pattern that would confirm a deep and protracted bear market.

    The shadow of the Fed looms large

    This internal market struggle is playing out under the long shadow of the Federal Reserve.

    The central bank’s upcoming policy meeting on September 16-17 may well be one of the most contentious in years, a pivotal showdown that could determine the fate of all risk assets.

    With markets currently implying an 87 percent chance of a quarter-point rate cut, the crypto market is trapped between the rock of seasonal weakness and the hard place of potential monetary relief.

    Prediction markets are reflecting this bearish tilt.

    On Myriad, traders now give Bitcoin a 75 percent chance of dropping to 105,000 dollars in the near future, a stunning reversal from just two weeks ago when the same market was pricing in a 90 percent chance of a surge to 125,000 dollars.

    The storm clouds are gathering, and the calm of this early September morning may not last for long.

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  • Crypto hacks in August hit $163 million as exchange risks grow

    Crypto hacks in August hit $163 million as exchange risks grow

    Crypto hacks in August hit $163 million as exchange risks grow

    • The largest theft was $91.4 million from anonymous Bitcoin addresses.
    • Other victims included Odin.fun ($7 million), BetterBank.io ($5 million), and CrediX Finance ($4.5 million).
    • Weak audits, human error, and fast platform launches are driving security risks.

    The digital asset industry faced another blow in August as hackers stole $163 million across 16 separate incidents, according to blockchain security firm PeckShield.

    This was a jump from July’s $142 million, showing how attacks are becoming more frequent and technically advanced.

    The largest theft was $91.4 million from multiple anonymous Bitcoin addresses, underlining the vulnerability of individual investors as well as institutions.

    Beyond the immediate financial loss, these incidents raise questions about the security of centralised platforms and the long-term impact on investor trust in the wider crypto market, which continues to expand globally.

    $54 million BtcTurk hack highlights exchange weaknesses

    One of the biggest cases in August was the breach of BtcTurk, Turkey’s leading crypto exchange, which lost $54 million.

    This incident was particularly notable because the same platform had already been hit in June 2024 for another $54 million, bringing its total annual losses above $100 million.

    BtcTurk confirmed that unauthorised access had been detected, affected wallets were frozen, and investigations with local authorities were underway.

    The repeat nature of the attack highlights how centralised exchanges remain a high-value target, with security defences proving inadequate against persistent attackers.

    Other platforms lost $17 million in separate cases

    While BtcTurk dominated headlines, smaller but still damaging attacks hit other platforms. Odin.fun lost $7 million, BetterBank.io suffered $5 million in losses, and CrediX Finance was drained of $4.5 million.

    These examples show how cybercriminals are not only targeting major exchanges but also smaller platforms, often exploiting weak security audits or untested systems.

    The cumulative effect of these breaches demonstrates how no level of the crypto ecosystem is safe from exploitation, whether through technical loopholes or basic operational oversights.

    Human error and lack of audits fuel rising attacks

    PeckShield’s data shows that the crypto sector’s rapid growth is directly linked to the rising number of hacks. New platforms and protocols are often launched quickly without thorough security reviews, giving attackers multiple entry points.

    Alongside structural weaknesses, human error continues to play a major role. Users failing to enable two-factor authentication, relying on weak passwords, or falling victim to phishing scams leave both exchanges and personal wallets open to compromise.

    The combination of technical flaws and behavioural lapses is creating an environment where cybercrime thrives, forcing exchanges and investors to reconsider their defences.

    Regulatory authorities in multiple jurisdictions have noted these trends, pointing to the need for stricter compliance checks.

    Bitcoin dips as investor confidence weakens

    The impact of these hacks has extended into the wider market. Bitcoin (BTC) slipped 0.29% in the past 24 hours to trade at $108,361.50, with a market capitalisation of $2.15 trillion.

    Bitcoin price
    Source: CoinMarketCap

    Analysts warn that repeated breaches could slow mainstream adoption, as every incident erodes investor confidence and strengthens the case for stricter regulations to protect consumers and stabilise trading activity.

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  • ETH outperforms BTC by 26% as a structural shift grips the crypto market

    ETH outperforms BTC by 26% as a structural shift grips the crypto market

    ETH outperforms BTC by 26% as a structural shift grips the crypto market

    • Traders now see a 26% chance of ETH hitting 5,000 dollars this month.
    • A “major liquidity floor” for ETH is being built by institutions.
    • ETH has gained 20% in 30 days, while Bitcoin has fallen 6%.

    A tectonic shift is reshaping the cryptocurrency landscape. While Bitcoin, the long-reigning king, stumbles under the weight of fading momentum and massive liquidations, a powerful rebellion is brewing.

    Ethereum is leading the charge, its price buoyed by a torrent of institutional capital and a fundamental re-allocation of liquidity that has traders now seriously betting on it conquering the coveted 5,000 dollar milestone this month.

    The growing conviction is quantifiable. On the prediction market Polymarket, the odds of ETH hitting 5,000 dollars have surged to 26%, a dramatic climb from just 16% a few days ago.

    This is not a rally built on fleeting hype, but on a deep and structural change in how capital is flowing through the digital asset ecosystem.

    The institutional bedrock

    At the heart of Ethereum’s ascent is a powerful vote of confidence from the market’s giants. 

    “Ethereum’s recent strength is mainly showcased by the level of flows into it, where a major liquidity floor has been built by institutions,” said March Zheng, General Partner at Bizantine Capital, in a note to CoinDesk.

    He added that the ETH/BTC price ratio was at a localized low, making a rebound overdue, and that this cycle is supported by stronger fundamentals like global stablecoin adoption and clearer regulation.

    This sentiment is echoed by industry leaders who see a market increasingly focused on real-world value. 

    “Markets react to headlines, but longer-term value is driven by fundamentals,” Gracie Lin, CEO of OKX Singapore, told CoinDesk. 

    “This is why Ethereum continues to show strength through real utility — even as prices pull back, big institutional moves like BitMine’s ETH accumulation prove there’s deep conviction in its role at the core of crypto.”

    A market in motion: the re-allocation of liquidity

    This isn’t just an Ethereum story; it’s a story about a market in motion. The market maker Enflux, in a note to CoinDesk, described a broad “structural reallocation of liquidity across the crypto landscape.” 

    Capital is actively rotating away from a stagnant Bitcoin and chasing new, emerging narratives. XRP has joined ETH in leading the majors, while assets like CRO are gaining traction following initiatives like Trump Media’s “Cronos Treasury.”

    Furthermore, the surge in trading volume on decentralized platforms like Hyperliquid, which surpassed Robinhood in July, highlights how speculative energy is now tilting toward crypto-native infrastructure.

    These are not just isolated trends; they are undercurrents of a fundamental shift in where the market sees future growth.

    The unsettled throne

    This altcoin uprising stands in stark contrast to the grim picture in the Bitcoin market.

    While trading at 111,733.63 dollars, its on-chain activity remains weak, and a staggering 940 million dollars in recent liquidations signal a dangerous fade in momentum.

    Over the past 30 days, while ETH has soared 20%, Bitcoin has fallen 6%.

    The divergence is clear, but the conviction is about to face a critical test. As Gracie Lin of OKX noted, “With new macro data like the US PCE coming in later this week, we’re about to see how that conviction holds up amidst volatility.” 

    The rebellion is underway, but the final battle for market dominance is yet to be fought.

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