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LayerZero wins $110M Stargate acquisition deal

by admin August 25, 2025

Blockchain messaging protocol LayerZero has secured the $110 million acquisition of cross-chain platform Stargate after a heated, last-minute bidding war.

Summary

LayerZero won Stargate’s $110M acquisition with 95% DAO approval.
Stargate stakers to receive 50% of revenue; rest goes to ZRO buybacks.
Community chose LayerZero over rival bids from Wormhole, Axelar, and Across.

With one of the highest participation rates in its history, the Stargate (STG) DAO approved the acquisition on with a 95% majority vote. Over 7.5 million veSTG tokens were cast by more than 15,000 addresses. As part of the agreement, the DAO was shut down, and governance will be moved to the LayerZero (ZRO) ecosystem.

The Stargate DAO has approved our acquisition of Stargate (STG).

We’ve spent four years building the rails to reinvent how value moves. Today, we accelerate our network effects.

LayerZero is better money technology.

Stargate is the interface for value transfer. pic.twitter.com/U1QI1308dV

— LayerZero (@LayerZero_Core) August 24, 2025

Stargate to shift to LayerZero control

Under the final agreement, Stargate stakers will receive 50% of protocol revenue for the next six months. The remaining 50% will be allocated toward LayerZero’s ZRO token buybacks, which will strengthen token value. Additionally, holders of STG tokens will be able to convert them into ZRO at a fixed exchange rate of 1 STG = 0.08634 ZRO, starting Monday, Aug. 25.

This is a structural change that aligns Stargate’s cross-chain liquidity infrastructure with LayerZero’s wider interoperability strategy as governance and operations move under the LayerZero umbrella.

Rival bids fail to sway Stargate vote

Gaining approval wasn’t an easy process. Because it terminated Stargate’s staking program and allegedly undervalued its strong revenue generation, LayerZero’s original proposal drew criticism from the community. Rivals were able to take advantage of this discontent, which led to a rare multi-protocol bidding war in decentralized finance.

Wormhole (W), Axelar (AXL), and Across Protocol joined the battle immediately, with Wormhole even offering an all-cash bid of $120 million with accelerated payouts for holders of Stargate tokens. Despite the higher offer, Stargate’s community ultimately stuck with LayerZero, emphasizing strategic alignment over short-term gains.

Before being spun out as a DAO in 2022, LayerZero Labs initially incubated Stargate in 2021. LayerZero’s reacquisition of Stargate solidifies its ecosystem and improves its standing in the cross-chain messaging and liquidity space in a time when interoperability is still a major DeFi bottleneck,

Now that the acquisition is complete, focus is on how LayerZero will incorporate Stargate’s infrastructure and whether the move will provide long-term benefits to both ZRO holders and Stargate’s loyal supporters.

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August 25, 2025 0 comments

NFT Gaming

Philippines to Consider Strategic Bitcoin Reserve With 20-Year Lockup

by admin August 25, 2025

In brief

The measure directs the country’s central bank to purchase 10,000 BTC over five years, with a 20-year holding requirement.
Custody, proof-of-reserves, and disposal rules would be codified by law and regulation.
Local crypto voices call the proposal bold but warn of volatility, fiscal tradeoffs, and gaps in financial literacy.

The Philippines has introduced a proposal to establish a Strategic Bitcoin Reserve, a measure that would direct its central bank to accumulate 10,000 BTC over five years under a two-decade lockup period.

The bill was introduced in the House of Representatives as House Bill 421 by Congressman Miguel Luis Villafuerte, calling for the country’s central bank to manage the reserve under strict trust and reporting requirements.

Formally called the Strategic Bitcoin Reserve Act, the bill mandates yearly purchases of 2,000 BTC and allows sales only to pay off government debt after 20 years. If enacted, the measure would mark the Philippines as one of the first countries in Asia to legislate a sovereign Bitcoin reserve through a formal statute.

The “increasing significance of Bitcoin in ensuring financial and economic prowess” makes it “imperative for the country to take significant legislative measures,” Villafuerte wrote.

Congressman Villafuerte also said it is “vital that the Philippines stockpile strategic assets such as Bitcoin” to support national interests and bolster financial stability.

Elsewhere in Asia, Bhutan has built Bitcoin and Ethereum holdings through hydropower-backed mining, while Pakistan has announced plans for a sovereign reserve. Unlike other countries such as the U.S. and Germany, which built holdings from law enforcement seizures, the bill directs the Philippine central bank to buy Bitcoin on schedule.

The measure “can be an asymmetric bet in the upside for the Philippines,” Miguel Antonio Cuneta, co-founder of Satoshi Citadel Industries, which once operated the country’s first licensed virtual asset provider, told Decrypt.

“If we look at the other countries and states that have started or are planning to start a strategic Bitcoin reserve, we already have a template to follow,” Cuneta said.

Road ahead

Asked where the assets should come from, Cuneta pointed out that diversifying a small percentage into “a non-correlated, novel asset class with a track record of incredible compound annual growth rate” could strengthen its position.

“The best way would be to do it without affecting other critical sectors that need funding,” Cuneta, now a city councilor, pointed out.

Still, the bill would likely face hurdles once discussed by lawmakers.

“Although I don’t believe that the proposal will actually be passed, I’m hopeful that local corporations will…begin their own journeys towards incorporating Bitcoin into their respective balance sheets,” Luis Buenaventura, head of crypto at GCash, told Decrypt, citing how the proposal “casts a spotlight on Bitcoin and its growing role in treasuries around the world.”

The bill may also “signal law enforcement agencies to take greater care of confiscated assets from the various raids they’ve conducted over the years,” Buenaventura added.

The bill is “a bold step because it treats Bitcoin the way it was meant to be, long-term, censorship-resistant, and a true store of value like digital gold,” Paul Soliman, CEO of blockchain infrastructure firm BayaniChain, told Decrypt. “Unlike traditional reserves, a Bitcoin treasury can be fully auditable by the public if the government simply discloses its wallets.”

“That level of transparency is unprecedented in finance and could build real trust with Filipinos,” Soliman said. “Of course, risks remain—volatility, the use of taxpayer funds, and our current financial literacy gap.”

Yet with “clear governance, a smart acquisition strategy, and parallel investment in education,” Soliman hopes the reserve “could become more than just a hedge, it could be a symbol of accountability and a generational safeguard for the country.”

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August 25, 2025 0 comments

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Bitcoin’s ETFs Kill the Transaction Fees, Punishing the Miners More

by admin August 25, 2025

Good Morning, Asia. Here’s what’s making news in the markets:

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.

Bitcoin’s price is holding near records, but the chain itself is quiet. Glassnode data shows transaction fees have collapsed back toward decade lows, even as BTC flirts with six figures.

In past cycles, fee spikes tracked bull markets as traders bid for blockspace. This year, the fee curve is flat while price rises, a clear sign that onchain demand is no longer driving the market.

(Glassnode)

A new report from Galaxy Research shows median daily fees have fallen more than 80% since April 2024, with as much as 15% of daily blocks now clearing at just 1 satoshi per vbyte. Nearly half of recent blocks are not full, signaling weak demand for blockspace and a dormant mempool.

This is a sharp contrast to prior bull cycles, where price rallies translated into congestion and fee spikes.

The data confirms a structural shift: spot ETFs and custodians now hold more than 1.3 million BTC, and coins parked in those wrappers rarely touch the chain again.

At the same time, retail activity that once clogged the Bitcoin blockchain has migrated to Solana, where memecoins and NFTs benefit from cheaper and faster execution. The result, Galaxy notes, is that the bitcoin price is being set by custodial inflows while the network’s onchain demand – once a proxy for price movement – has slowed down.

For miners, this dynamic is particularly punishing. With rewards halved to 3.125 BTC and fees contributing less than 1% of block revenue in July, profitability is under strain. That stress is pushing listed miners to diversify into AI and HPC hosting.

Read more: Bitcoin Mining Faces ‘Incredibly Difficult’ Market as Power Becomes the Real Currency

A report from earlier this year by Rittenhouse Research argues that Galaxy Digital’s move out of mining altogether could be the model for the sector.

This move has been applauded by the equity markets. While BTC is down more than 3% on-year, the CoinShares Bitcoin Mining ETF has gained nearly 22%. Investors are rewarding firms that have leaned into diversification rather than relying on block rewards alone.

Listed miners tell a similar story. Hive, Core Scientific, and TeraWulf all reported Q2 results padded by HPC and AI hosting revenues.

Those with no diversification, like Bitdeer and BitFuFu, remain deeply exposed to electricity costs, equipment depreciation, and a fee market that Galaxy warns in its report is “anything but robust.”

The juxtaposition is telling: Galaxy’s own research warns that the Bitcoin blockchain’s settlement role is stagnating, while Galaxy’s balance sheet is being repositioned for growth in AI data centers.

Onchain data makes the point: without organic demand for blockspace, fees can’t fund security. And if fees stay low, equity markets are painting a clear picture that mining sector’s best future returns may come from AI, not Bitcoin.

Market Movements

BTC: Bitcoin traded at $113,286.95, down 1.79%, after briefly plunging to a six-week low near $110,600, with the broader crypto market facing heavy liquidations and volatility.

ETH: Ether traded flat at $4,779 as Jerome Powell’s dovish Jackson Hole remarks boosted expectations of a September rate cut, with asset managers predicting new highs for bitcoin and an ETH breakout above $5,000 despite risks from treasury adoption and equity volatility.

Gold: Gold closed at $3,371 after Powell’s dovish Jackson Hole remarks boosted September rate-cut odds.

Nikkei 225: Asia-Pacific stocks climbed Monday, with Japan’s Nikkei 225 up 1.08%, after Powell signaled potential Fed rate cuts in September during his Jackson Hole speech.

Elsewhere in Crypto

The Funding: Why raising a crypto VC fund is harder now — even in a bull market (The Block)
Why Luca Netz Will Be ‘Disappointed’ If Pudgy Penguins Doesn’t IPO Within 2 Years (Decrypt)
KPMG Says Investor Interest in Digital Assets Will Drive Strong Second Half for Canadian Fintechs (CoinDesk)

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August 25, 2025 0 comments

NFT Gaming

XRP Price Prediction for August 24

by admin August 25, 2025

Neither bulls nor bears are dominating on the last day of the week, according to CoinMarketCap.

Top coins by CoinMarketCap

XRP/USD

The rate of XRP has risen by 0.19% since yesterday. Over the last week, the price has fallen by 3.38%.

Image by TradingView

On the hourly chart, the price of XRP is near the local support of $3.0029. If a bounce back does not happen by the end of the day, one can expect a level breakout, followed by a further correction to the $2.98 area.

Image by TradingView

On the bigger time frame, traders should pay attention to the nearest level of $3.1427.

Bitcoin OG Sells Another 4,000 BTC To Buy Ethereum As Capital Rotation Intensifies

by admin August 25, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

After setting a new all-time high of $124,500, Bitcoin is now battling to hold the $115,000 level as support. The bulls, who dominated just days ago, are struggling to spark a fresh rally, leaving the market in a delicate phase. While fundamentals such as institutional adoption and strong holder demand continue to support the broader uptrend, capital flows suggest a new dynamic is at play.

Several analysts note signs of capital rotation from Bitcoin into altcoins, a pattern that often marks transitions between phases of the market cycle. Ethereum, in particular, is emerging as a major destination for this shift.

Adding to the intrigue, on-chain intelligence firm Lookonchain has been tracking the movements of a long-dormant Bitcoin OG whale, who has reawakened with extraordinary activity. On Friday, the whale deposited 300 BTC ($34.86 million) into Hyperliquid to sell for Ethereum. His bold strategy is paying off: he’s now sitting on over $100 million in unrealized profits.

The whale currently holds a 135,265 ETH ($581M) long position at a $4,295 average entry, up $58 million, and also accumulated 122,226 ETH ($535M) spot at a $4,377 average, up $42 million. This aggressive rotation underscores a pivotal moment—one where Bitcoin consolidates, but altcoins, led by Ethereum, may capture the spotlight.

Bitcoin OG’s Bold Rotation Into Ethereum

According to Lookonchain, the mysterious Bitcoin OG whale continues to dominate market headlines with aggressive on-chain moves. Most recently, he transferred another 4,000 BTC (~$460 million) into exchanges, where the funds were converted into Ethereum. This marks yet another large-scale repositioning that has captured the attention of analysts and investors alike.

Bitcoin OG Transactions | Source: Lookonchain

So far, the whale has accumulated a staggering 179,448 ETH (~$806 million) at an average price of $4,490, alongside a 135,265 ETH ($581 million) long position that remains open. These bold allocations underscore a decisive rotation strategy away from Bitcoin and into Ethereum, suggesting a bet on ETH’s outperformance in the coming phase of the cycle.

The implications are significant. On one hand, such a massive capital shift highlights growing institutional-style conviction in Ethereum as it pushes through all-time highs and challenges Bitcoin’s dominance. On the other hand, it raises concerns about short-term volatility.

Analysts warn that despite the bullish outlook, a shakeout may occur before sustained gains materialize. With leverage in derivatives markets climbing and liquidity thinning in spot trading, sharp pullbacks could easily flush out overextended positions.

Bitcoin Vs. Ethereum: Weekly Chart Analysis

The ETH/BTC weekly chart shows Ethereum gaining significant ground against Bitcoin after a long downtrend that lasted from mid-2022 to early 2025. ETH has now rallied to the 0.041 BTC level, posting strong bullish candles and reclaiming key moving averages. The 50-week SMA (blue) has just been broken to the upside, and price is testing the 100-week SMA (green), an important resistance zone. If ETH manages to sustain momentum above this level, the next key target lies near the 200-week SMA (red) around 0.055 BTC.

Ethereum shows strength against BTC | Source: ETHBTC chart on TradingView

This rotation is especially important because ETH has been underperforming Bitcoin for over two years. The recent surge signals a potential capital rotation from BTC into ETH, a trend reinforced by large institutional buys and whales shifting positions into Ethereum.

On the downside, if ETH/BTC faces rejection at the current resistance, the pair could retest support around 0.035 BTC, which aligns with previous consolidation. However, momentum indicators suggest strength is currently with Ethereum.

Featured image from Dall-E, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

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August 25, 2025 0 comments

Polkadot price to surge? Key vote advances ahead of JAM upgrade

NFT Gaming

Polkadot price hinges on key community vote, JAM upgrade

by admin August 24, 2025

The Polkadot price remains in a tight range on Sunday, Aug. 24, as a golden cross pattern formed, and the community voted on its supply and inflation reduction measures.

Summary

Polkadot price could surge as the community leans in the hard cap side.
The network will likely implement the JAM upgrade in 2026.
Technical analysis points to an eventual DOT price rebound.

Polkadot community vote continues

Polkadot (DOT) was trading at the psychological level of $4, up 35% from its lowest point this year.

The DOT crypto price has remained in a tight range over the past few days as the community debates its tokenomics. Most of these investors have been frustrated with its weak performance as it hovers near its all-time low.

The community is voting on three proposals: hard pressure, soft pressure, and growth pressure. The hard pressure proposal aims to implement a 2.1 billion DOT supply, accompanied by a significant inflation reduction of 53.6%, and a stepped supply schedule commencing in March next year.

Its main implication is that it will reduce the current staking yield from 14% to a significantly lower number over time. One concern among its proponents is that stakers typically sell their rewards, creating pressure on the sale of DOT.

The soft pressure proposal suggests a more gradual approach with a higher threshold of 3.14 billion DOT supply. It is seen as a less aggressive approach.

The growth proposal suggests a 2.1 billion cap, with a 33% inflation reduction every two years and 50% staking APR cut in this period. Data shows that the hard cap proposal is winning, although this could change towards the end of the vote.

The other major catalyst for the Polkadot price is the proposed Join-Accumulate Machine (JAM) upgrade.

This upgrade, proposed by Polkadot creator Gavin Wood last year, will evolve from a parachain-focused blockchain into a decentralized supercomputer that supports applications in various industries, such as DeFi.

Although the upgrade date has not been announced, it is likely to occur soon now that Wood has returned as CEO.

Polkadot price technical analysis

DOT price chart | Source: crypto.news

The daily chart shows that the DOT price formed a double-bottom pattern at $3.256, its lowest levels in April and June this year. Its neckline is at $5.375.

The Polkadot price is also about to form a golden cross pattern. As the spread between the 50-day and 200-day Weighted Moving Averages narrows, it signals one of the most popular bullish chart patterns.

DOT crypto has also formed a symmetrical triangle whose two lines are about to converge. Therefore, the most likely scenario is where it stages a strong comeback, potentially to $5.374, its highest swing in May.

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August 24, 2025 0 comments

NFT Gaming

Solana Seeker Review: A More Measured Crypto Phone

by admin August 24, 2025

Solana’s first smartphone, 2023’s Saga, was a big swing for Solana Labs—and initially a miss with consumers, at least until a massive price cut and crypto airdrop incentives drove sudden, sellout demand months after release.

Now, the 2.0 model has arrived. The new Seeker serves as an attempt by Solana to deliver a more palatable crypto phone. It costs half the price of the Saga at launch, currently selling for $500, with early pre-orders getting it $50 cheaper. By some measures, it’s expectedly less robust and ultra-premium than the pricey Saga.

Solana Seeker. Photo: Decrypt

But the Seeker hits a much better sweet spot at this price, with mostly good-to-great hardware plus the added crypto features that help set it apart from your average Android phone. It’s still decidedly niche in appeal, and the state of the Solana dapp store doesn’t feel that different from back in 2023, with little to keep my attention beyond trading apps.

But Solana users don’t have to take as much of a gamble buying the Seeker, and if the mobile dapp ecosystem improves and/or there are serious airdrops ahead, maybe it’ll prove to be just as worthwhile as the Saga was to early adopters. But that’s still a maybe, for now.

A solid Android

The moment it hit your hand, it was clear that the Solana Saga was a beast—heavy and expensive-feeling, thanks to the ceramic backing, with distinctive visual elements.

At half the price, the Seeker has taken a different route. A plastic frame and glass backing make it more mid-range in feel than flagship, though it’s hardly anonymous among Androids thanks to the reflective “Seed Vault” cutout on the back and along the side (which houses the fingerprint sensor), plus a pair of Solana logos.

Solana Seeker and Saga. Photo: Decrypt

The 6.36-inch screen—while smaller than the 6.67-inch display of the Saga—is actually both brighter and noticeably crisper than its predecessor, with the same kind of dynamic refresh rate (up to 120Hz) that makes for smooth scrolling. That’s a big win.

The Mediatek Dimensity 7300 chip here is a step down in terms of raw horsepower, though, with Geekbench benchmark testing showing a 33% dip in multi-core and 44% drop in single-core performance compared to the Saga’s more powerful Qualcomm Snapdragon 8+ Gen1 chip.

What does that mean in practice? Not much, really: In everyday use, the Seeker feels snappy and responsive when navigating around Android, browsing the web, and using social media and video apps. It’s not built to handle the glossiest games at top settings, but in terms of day-to-day needs, the Seeker didn’t disappoint. And the beefy 4,500mAh battery should get you to bedtime without a top-up, with wireless charging here as a welcome convenience.

Camera quality was the one notably underwhelming element of the Seeker during my testing, which is typical at this price point. During my week of carrying the Seeker around, the three rear cameras—a 108-megapixel main sensor plus 50MP telephoto (zoom) and 13MP ultra-wide—gave me broadly similar outcomes: pretty good shots when there was a lot of natural light, and routinely rough and blurry snaps in low light.

The Solana Saga was largely conceived during a bull run and ultimately launched after SOL cratered in value. Meanwhile, the Seeker was created following that collapse, though ultimately launched after the Solana ecosystem’s monumental comeback.

It makes sense that the Seeker is a more measured device at a much more reasonable starting price—and camera qualms aside, it did everything I needed it to as a smartphone.

Room to grow

Like the Saga, the Solana Seeker is designed from the ground up to be a secure crypto wallet thanks to the Seed Vault, which stores your private keys and guards transactions behind your fingerprint approval.

Solana Seeker. Photo: Decrypt

The native, Solflare-powered Seed Vault Wallet is easy to use, with a double-tap of the side button and fingerprint scan used to authorize moves. Phantom and other wallets can also be added via the Solana Dapp Store. And the Seeker ID, which gives you a plain-English .skr wallet name (or “digital passport”) for sending and receiving crypto, is a nice user-friendly touch that could become more useful in time.

The Seeker is primed to power a potential world of decentralized, on-chain apps… and yet, the Dapp Store selection gives me a similar feeling that it did with the Saga back in 2023. Beyond trading apps like Jupiter, Drift, Vector, and Marinade.finance, there were few Solana-powered apps or games that really grabbed my attention.

Solana Seeker. Photo: Decrypt

If you’re actively trading in the Solana trenches, then the Seeker can keep you in the game wherever you are. But if you’re betting on Solana Mobile’s vision of disrupting the Google/Apple duopoly and upending centralized apps and services with comparable crypto-powered alternatives, then that potential future still feels far off right now. Most of the apps I needed to communicate and stay connected and entertained still came from Google’s Android Play Store.

But there’s promise, and the Saga showed us that being an early adopter to the Solana Mobile ecosystem could pay off big time in terms of exclusive token airdrops and access.

Whether the Seeker can recreate that magic—or crucially, expand upon it—remains to be seen.

Just 20,000 Saga phones were ultimately made, while 150,000 Seekers have already shipped. A larger group of users means better adoption for developers, but it also means dilution and less exclusivity for airdrops and rewards. And we’ve yet to see how the upcoming SKR token, which will be distributed to both users and developers, will help boost growth.

Buying a Seeker is a bet that the Solana Mobile ecosystem will keep growing in the coming years, and that the access and incentives for owners will justify the buy-in price. That’s a gamble for now, but it’s a much more affordable one than the Saga. And if you’re already actively in the Solana world, then picking up a Seeker feels like a no-brainer.

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August 24, 2025 0 comments

NFT Gaming

Crypto Bull Cycle Just Getting Started, Tom Lee Says

by admin August 24, 2025

Fundstart’s Tom Lee believes that the current cryptocurrency bull market is only in its early innings despite the fact that the biggest coins by market cap have recorded some impressive gains.

His reasoning is based on the fact that traditional finance is still seemingly reluctant to embrace cryptocurrencies.

According to the Morgan Stanley survey, did not own crypto:

– 2024: 69%
– 2025: 82%

This actually went up in 2025. This is a sign that it is still early in this crypto cycle

Tickers: $BMNR $GRNY https://t.co/04wgUNFHTX

— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) August 24, 2025

Morgan Stanley sounding on crypto?

Lee has pointed to the fact that the percentage of European Morgan Stanley interns who own crypto actually went down dramatically

As reported by U.Today, the interns of the prominent bank have ditched both Bitcoin and Ethereum at a rapid pace over the past few years. For instance, 63% of them owned the largest cryptocurrency by market capitalization as of 2022. However, this percentage has now shrunk to only 12% in a dramatic reversal.

In fact, XRP is the only token that has seen its ownership rates go up over the past two years (from zero to 5%).

Prominent investor Dan Tapiero previously predicted that 2026 would be “a boom year” for cryptocurrencies.

Bitmine’s vast ETH holdings

As reported by U.Today, Lee previously opined that Ethereum (ETH) is supposed to be trading at $6,000 as of now.

Lee’s Bitmine, the biggest corporate owner of the flagship atlcoin, has now surpassed a whopping $7 billion in total holdings, according to data provided by Arkham Intelligence.

ETH’s new record high

In the meantime, Ethereum (ETH) recently hit yet another all-time high of $4,945, according to CoinGecko data.

The flagship altcoin is enjoying a massive rally due to strong corporate adoption as well as extremely impressive ETF flows.

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August 24, 2025 0 comments

NFT Gaming

Fed Rate Cut Hopes May Backfire On Crypto

by admin August 24, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Market confidence over a possible Federal Reserve rate cut has pushed crypto prices higher in recent days, but analysts warn that the mood could flip quickly.

According to Santiment, social chatter around the words “Fed,” “rate,” and “cut” has hit an 11-month high, a surge that has historically signaled overly bullish crowd behavior and increased the risk of a sharp pullback.

Social Euphoria Raises Red Flags

Santiment analyst Brian pointed to a classic market pattern: buy the rumor, sell the news. He noted that while ether led recent gains and bitcoin showed strength, the spike in mentions tied to Fed policy may have pushed sentiment toward euphoria.

Positive funding rates and rising chatter can lift prices, yet they also make markets more fragile. When a single theme dominates conversations, history shows that tops can form faster than many expect.

On-chain data add fuel to the Fed caution. Reports show that exchange-held bitcoin has climbed by roughly 70,000 coins since early June, reversing a long-term trend of withdrawals to cold storage.

According to Santiment, that shift could leave more supply ready to hit the market if sentiment turns. At the same time, daily active addresses and transaction volumes have slipped from prior levels, which leaves some core utility indicators looking muted rather than robust.

Bitcoin is currently trading at $114,624. Chart: TradingView

Bitcoin Technicals Suggest Short-Term Risk

Technically, bitcoin traded around $117,000 as it tried to reclaim the $120,000 mark. Fibonacci analysis places the 0.382 retracement at $114,355, a level already under pressure.

If selling intensifies, downside targets near $108,200 and $103,800 become plausible. The daily chart shows a breach of an ascending trendline and a failed attempt to stay above the supply zone near $120,000, which means risk management is prudent for anyone carrying large positions.

Ethereum Faces Profit-Taking Risk Despite Momentum

Funding rates and MVRV readings add to the careful tone. Based on reports, bitcoin’s long-term MVRV stands at +18.5%, a level that suggests moderate risk for new long-term buys. Positive funding rates indicate that traders are leaning long, so that needle could swing quickly when a catalyst reverses.

Ethereum’s price action looks healthier, trading near $4,755 with a crucial support zone around $4,550. Santiment flagged the short-term MVRV at roughly +15%, a level often seen as a danger zone for altcoin retracements, while the long-term MVRV at +58% points to elevated potential for profit taking.

Featured image from Getty Images, chart from TradingView

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August 24, 2025 0 comments

Shiba Inu price at risk of deeper dive as whales capitulate

NFT Gaming

Shiba Inu price nears big move as whale activity dries

by admin August 24, 2025

The Shiba Inu price dropped by over 3% on Sunday, erasing some of the gains made on Friday following Jerome Powell’s statement at the Jackson Hole Summit.

Summary

Shiba Inu price retreated on Sunday as Friday’s gains faded.
Smart money and whale activity has faded this month.
Shibarium activity has also weakened, leading to lower fees.

Shiba Inu’s (SHIB) retreat mirrored moves by Bitcoin (BTC) and other top altcoins like Ethereum (ETH) and Ethena (ENA). It also coincided with falling whale and smart money activity.

Nansen data shows that savvy money investors hold 40.42 billion tokens today, down from the July peak of 48.6 billion. Their holdings have remained stagnant since Aug. 5.

Similarly, whales hold 45 billion SHIB coins, down from last month’s high of 47.6 billion. The ongoing trend is a sign that top investors are concerned about SHIB’s trajectory following its 60% crash from its November highs.

The ongoing Shiba Inu price crash also coincided with a decline in activity within its ecosystem. Data shows that Shibarium, its layer-2 network that launched in 2023 is not seeing significant activity.

The total value locked in the network dropped to $1.79 million, and there is no stablecoin activity. There are only 17 DeFi protocols in its ecosystem, including Shibarium, WoofSwap, ChewySwap, and DogSwap.

Shibarium was created to enhance Shiba Inu’s ecosystem by transitioning it from a mere meme coin into a utility token. Its success would also contribute to Shiba Inu’s scarcity as some of the fees are converted from BONE to SHIB and incinerated.

Shiba Inu price technical analysis

SHIB price chart | Source: crypto.news

The daily timeframe chart indicates that the SHIB price has been moving sideways over the past few days. As a result, it has consolidated along the 50-day and 100-day Exponential Moving Averages, and its Average True Range has decreased, indicating low volatility.

The Shiba Inu price has also formed a symmetrical triangle pattern whose two lines are about to converge. In most cases, bullish or bearish breakouts happen when the two lines converge.

A bullish breakout will see it rise to the key resistance level at $0.00001600, its highest point on July 22. On the other hand, a drop could push it to $0.00001015, its lowest level in June.

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August 24, 2025 0 comments