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BNB price extends gains to a new ATH amid crypto bounce
NFT Gaming

BNB price extends gains to a new ATH amid crypto bounce

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BNB price continued its ascent as bulls broke to a new all-time high of $1,167 on Oct. 3, with the surge coming amid an explosive increase in key network metrics.

Summary

  • BNB price rose to a new all-time high of $1,167 on Friday as Bitcoin jumped to $124,000.
  • Network metrics points to further gains for the Binance token.
  • Overall market sentiment is also bullish, with macro factors aiding the upbeat outlook.

BNB has been in an uptrend since breaching the previous cycle’s all-time peak, and the rally above $1,100 looked to gain fresh momentum as the price hit a new all-time high of $1,167. The cryptocurrency, native to the Binance crypto exchange ecosystem and BNB Chain blockchain network, has gained more than 18% in the past week and over 32% in the past month.

The BNB (BNB) chart shows bulls have extended dominance above the $1,000 threshold after initially retreating from a high of $1,075 on Sept. 21, 2025.

BNB price chart. Source: crypto.news

What happened as BNB price rose? 

A successful retest of the $1,000 area as cryptocurrencies bounced amid market reaction to the U.S. government shutdown provided a base for bulls’ latest move. Notably, the BNB community, including Binance founder and former chief executive Changpeng Zhao, has cheered each price milestone reached in recent weeks.

This upbeat sentiment has helped BNB hold onto gains and trade higher as market leaders such as Bitcoin and Ethereum surge. However, the bullish outlook is not just due to optimism for further gains; the Binance and BNB Chain ecosystems have shown significant traction across key metrics.

Key metrics point to momentum

Network growth across users, trading volumes, and total value locked aligns with Binance Coin’s market performance.

For instance, a Q3 2025 report by CryptoRank shows BNB Chain recorded a 57% quarter-over-quarter increase in active addresses in the three months to the end of September.

The network also saw notable jumps in both centralized and decentralized exchange volumes. PancakeSwap and Aster have been standout contributors to the trading-volume metric; the latter has attracted attention as one of the fastest-rising platforms.

A surge in stablecoin supply on BNB Chain, up  has increased by over 6.4% to over $13 billion, is another metric aiding the price surge.





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Cap Surpasses $200M Tvl As Stablecoin Protocol Gains Traction
Crypto Trends

Cap Surpasses $200M TVL As Stablecoin Protocol Gains Traction

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Cap, a stablecoin protocol built on Ethereum, has surpassed $200 million in total value locked (TVL). According to the project’s update, $183 million comes from USDC collateral supporting its cUSD stablecoin, while roughly $30 million stems from SymbioticFi delegations by partners including Hyperithm, MEV Capital, Renzo Protocol, Concrete, and Re7 Labs.

Unlike conventional stablecoins, Cap introduces a model where yield generation is outsourced to whitelisted operators such as banks, high-frequency trading firms, and RWA protocols. 

The framework rests on three actors: minters, operators, and restakers. Minters hold cUSD pegged 1:1 with USDC/USDT, operators access delegated liquidity to execute strategies, and restakers provide security to ensure the system remains fully covered.

Through this structure, yield is distributed back to stablecoin holders and restakers, while operators retain their performance margins. Cap’s smart contracts enforce penalties and rewards, aiming to balance returns with systemic protection.

DeFi growth echoes TVL breakout moments

Cap’s $200 million TVL milestone comes days after decentralized perpetuals exchange Aster reported surpassing $1 billion in TVL, alongside 330,000 new users after launching its $ASTER token on BNB Chain. 

Aster also logged $345 million in trading volume within 24 hours of its debut, highlighting how fast liquidity can consolidate around protocols promising capital efficiency and market access.

While Cap is carving out its niche in stablecoin yield generation, Aster’s rapid climb illustrates a parallel surge of interest in decentralized trading platforms. Both projects reflect a wider narrative in the Decentralized Finance (DeFi): protocols that combine clear collateral mechanics with scalable user incentives are drawing substantial inflows despite market volatility.

Together, both underscore the diversification of DeFi adoption across different verticals. Cap leans on stablecoin infrastructure and outsourced yield strategies, while Aster focuses on derivatives and trading activity at scale. Their simultaneous TVL milestones suggest that investor demand is not confined to a single category but spans from stable yields to speculative trading. 

Also Read: Solana Hits $241 as TVL and Institutional Interest Surges



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Exchange Review August
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Gains 3% as SBI Lending and ETF Catalyst Drive Flows

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XRP extended gains above $3.00 as institutional desks pressed bids into elevated volumes, confirming a short-term floor near $2.99. Japan’s SBI lending rollout and a pending U.S. ETF decision cycle framed the move, with resistance capping at $3.10 after heavy prints.

News Background

XRP climbed 3% between Oct. 2, 04:00 and Oct. 3, 03:00, rising from $2.98 to $3.03. The rally followed SBI Holdings’ expansion of institutional XRP lending services, signaling Japan’s deepening crypto push. Meanwhile, Ripple CTO David Schwartz announced his departure after 13 years, and seven XRP ETF applications remain under SEC review, with the first decisions expected Oct. 18. Prediction markets now price approval odds above 99%, reinforcing speculative inflows.

Price Action Summary

  • XRP traded a $0.15 corridor (4.9% range) between $2.95 and $3.10.
  • At 16:00, price spiked from $3.00 to $3.06 on 212.6M tokens — more than double the daily average.
  • Resistance hardened at $3.10, where 129M in turnover capped upside.
  • XRP consolidated between $3.00–$3.05, signaling accumulation above the $3.00 line.
  • In the final hour, XRP dipped from $3.03 to $3.02 amid profit-taking, with a 2.35M spike at 03:55 showing institutional rebalancing.

Technical Analysis

Support is confirmed near $2.99–$3.00, with multiple defenses holding the level. Resistance remains defined at $3.10, where institutional sellers concentrated. The session carved a consolidation band above $3.00, suggesting professional accumulation. Volume-led breakout attempts validate institutional participation, though conviction remains tethered to a sustained close above $3.10 to unlock the next leg toward $3.20.

What Traders Are Watching?

  • Whether XRP can sustain closes above $3.00 and retest $3.10.
  • Institutional positioning shifts ahead of Oct. 18 ETF deadlines.
  • SBI’s lending flows and their impact on Asian liquidity trends.
  • Broader CD20 index confirmation, as alt rotations track XRP’s strength.



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Market Rallies, Altcoins Lead Gains; Zcash Hits 16-Month High
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Market Rallies, Altcoins Lead Gains; Zcash Hits 16-Month High

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The crypto market experienced a boost on Wednesday with majors bitcoin BTC$116,592.90 and ether ETH$4,005.03 rising 2.9% and 3.1% respectively.

But the real story was in the altcoin market as several tokens rose by double-digits as investors speculate on another phase of “atlcoin season.”

ZEC hit its highest point since May 2022 while a number of DeFi tokens also experienced moves to the upside.

The market uptick comes alongside a backdrop of the U.S. government shutdown, which has spurred gold prices to record highs and caused a sell-off in the dollar.

Derivatives Positioning

by Jacob Joseph

  • The BTC futures market continues to show a strengthening bullish bias. The overall futures open interest remains high at around $31.69 billion, reflecting sustained trader engagement, with Binance still leading the pack at $13.19 billion. Concurrently, the 3-month annualized basis is holding firm between 6% and 7%, indicating that the yield from the basis trade remains robust. This consistent metric across both open interest and basis suggests that traders are not only increasing their exposure but are doing so with conviction, reinforcing the positive sentiment observed in the market.
  • The BTC options market continues to show a divergence between its key metrics, presenting a complex picture of market sentiment. While the 25 Delta Skew for short-term options remains low, suggesting that traders are still willing to pay a premium for puts to hedge against downside risk, the 24-hour Put/Call Volume points to a surge in bullish speculation. The latest data shows that calls now make up 63.54% of the total volume, a strong reversal from a put-dominated market. This conflicting data indicates a highly polarized environment where some traders are hedging against potential price drops, while a larger number are actively betting on a short-term rally.
  • Funding rates have not only remained positive on major exchanges like Binance and OKX, but have picked up across the board, including on the historically volatile Hyperliquid. Deribit, in particular, is seeing a significant premium, with its annualized funding rate jumping to 17%. This indicates a strong and sustained demand for leveraged long positions, as traders are consistently willing to pay a high premium to hold their bullish bets. The widespread positive funding across all major platforms signals a collective market conviction in a continued upward trend for BTC.
  • Coinglass data shows $644 million in 24 hour liquidations, with a 38-62 split between longs and shorts. BTC ($166 million), ETH ($164 million) and Others ($69 million) were the leaders in terms of notional liquidations. Binance liquidation heatmap indicates $116,650 as a core liquidation level to monitor, in case of a price rise.

Token Talk

By Oliver Knight

  • Privacy token ZEC$59.70 is leading the pack on Wednesday, rising to its highest point since May 2022 following a break out against its bitcoin and dollar trading pairs.
  • ZEC touched $97.25 before retreating back to around $92.00 – a 41% rise for the day on the back of a 36% rise in daily trading volume to $300 million.
  • The surge comes alongside a boost across the wider altcoin market, with DeFi tokens ENA$0.5838, curve (CRV) and RAY$2.6577 all increasing by more than 8%.
  • A number of catalysts triggered the crypto recovery; notably the U.S. government shutdown that brought the dollar lower and gold to fresh record highs at $3,887.
  • Altcoins have outperformed bitcoin so far on Wednesday, although it’s worth noting that the average crypto relative strength index (RSI) is approaching overbought territory, suggesting that a period of consolidation is on the cards as the market begins to cool.
  • One market outlier was aster, the native token of its namesake’s BNB Chain-based perpetual exchange. ASTER slumped by 6.8% on Wednesday to compound a 25% decline over the past week as hype in the HyperLiquid rival begins to fade.



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GameFi Guides

Bitcoin Recovers Above $112,000, Boosted by Weekend Gains

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In brief

  • Bitcoin recovered to $112,000 Monday morning, recovering losses sustained during last week’s price slump.
  • CME-based Bitcoin futures and options products saw a $4.33 billion decline in open interest between September 18 and 26.
  • Crypto-native investors remained optimistic despite last week’s liquidation event, supported by an $800 million uptick in open interest and rising funding rates.

Bitcoin recovered above $112,000 Monday morning, supported by a surge in buying pressure noted during the weekend.

As a result, the top crypto is up 2.5% in the past 24 hours, undoing most of last Thursday’s losses, per CoinGecko data. Buoyed by Bitcoin’s strength, altcoins have also soared higher, resulting in a $354 million liquidation spree and the total cryptocurrency market capitalization nearing the $4 trillion mark.

Bitcoin’s Monday morning rise reflects “a mix of macro relief, with a softer U.S. dollar and steadier rate expectations, alongside a cleaned-up leverage after recent liquidations and renewed accumulation from larger players,” Farzam Ehsani, CEO and co-founder of VALR, told Decrypt.

The broader crypto market losses noted last week were primarily driven by quarter-end rebalancing, experts told Decrypt. Open interest for CME’s Bitcoin futures fell by $2.83 billion to $14.73 billion between September 18 and 25, while options dropped by $1.50 billion to $4.63 billion over the following two days, per Velo data.

U.S. spot Bitcoin exchange-traded funds also saw net outflows last week as part of the quarter-end basis unwind, as noted by Singapore-based trading desk QCP Capital in its Monday post. Experts who previously spoke to Decrypt also noted the ETF outflows were not a sign of weakness, but a sign of buyer strength.

Signs of optimism?

While sophisticated traders across CME’s products resort to rebalancing, perpetual traders in the cryptocurrency space have doubled down despite last week’s brutal liquidation events.

“Optimism is re-emerging,” QCP Capital noted, citing the growth in open interest for Bitcoin’s perpetuals from $42.8 billion to $43.6 billion, coupled with positive funding rates.

On prediction market Myriad, launched by Decrypt’s parent company DASTAN, users expect Bitcoin to close out September above $105,000, but remain divided on its long-term outlook. Predictors place a 57% chance on Bitcoin dipping to $105,000 rather than surging to $125,000, continuing a broadly bearish trend that kicked off with last week’s price slump.



All eyes are now on September’s Nonfarm Payrolls, scheduled for Friday, which could be delayed if the U.S. government shuts down.

Despite near-term uncertainty, investors remain bullish, as Bitcoin is poised to enter a historically bullish fourth quarter with a median return of 52%.

“Bitcoin will continue to anchor sentiment, especially with the halving narrative getting closer,” Shawn Young, chief analyst of MEXC Research, told Decrypt.

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Solana, Dogecoin and Others Lead Gains as Short Liquidations Top $260M

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In brief

  • Top alcoins have risen 3–4% in the past 24 hours, partially reversing last week’s sell-off.
  • About $345 million in crypto liquidations were recorded, mostly from short positions.
  • One analsyt expects near-term consolidation before capital rotation into select altcoin segments in Q4.

A weekend surge in crypto has partially erased last week’s losses as traders look to regain a bullish foothold in the market.

Solana, Dogecoin, Cardano, Ethereum, and XRP have led gains among the ten largest cryptocurrencies by market value, rising between 3% and 4% on the day, according to CoinGecko.

Nearly $260 million worth of short positions have been wiped out, bringing the 24-hour total for all liquidations to $345 million, according to CoinGlass figures.

Shivam Thakral, CEO of BuyUcoin, told Decrypt the uptick in Bitcoin has triggered a short-covering move, which in turn has amplified prices for altcoins. 

Short covering occurs when sellers are forced to buy their positions to offset losses as the price moves against them. 

Due to a correlation between Bitcoin and altcoins, Thakral expects prices to consolidate until traders begin rotating capital into altcoins sometime this week.

Looking to the fourth quarter, Thakral expects narrative-driven altcoin sectors, such as Layer 2, AI, and staking derivatives, to attract a bid. 

While a handful of altcoins may experience “outsized returns,” others that lack “story, roadmap, and adoption” are likely to stagnate, he added.

Experts who previously spoke to Decrypt have shared a similar bullish outlook for Bitcoin and the broader crypto market, despite last week’s downtrend and institutional outflow.

The Fear and Greed Index, meanwhile, has bounced from fear territory last Friday to neutral as of Monday, according to CoinGlass data, reflecting the broader bullish sentiment following the weekend rally.

The overall crypto market capitalization hovers around $2.23 trillion, up 2.35% in the last 24 hours.

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Bitcoin price data. Image: Tradingview
Crypto Trends

Crypto Market Wipes Out September Gains as Bitcoin Barely Hangs On: Analysis

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In brief

  • The crypto market is now deep in the red for September, shedding close to 5% in total value in 24 hours.
  • Bitcoin is holding onto a slim 1% gain for the month, staying in the green for now.
  • Technical indicators suggest market exhaustion, but prediction markets remain somewhat optimistic.

Brace yourselves, the Red September curse is upon us.

The crypto market has officially entered negative territory for September, despite Bitcoin holding on to a slight gain, after a brutal week that erased $162 billion from crypto valuations. The wipeout canceled out the gains generated from the bullish two-week start to the month, back when Bitcoin briefly notched its second-best September performance in 13 years.

Crypto market cap data. Image: Tradingview

The seasonal curse, though, doesn’t seem to be affecting traditional markets, despite September also being historically the worst month of the year for Wall Street. The S&P 500 gained 0.64% over the past 24 hours while gold retreated 1.2% from recent highs near $2,670 per ounce showing investors still want risk instead of hedge.

That risk appetite, however, does not appear to currently extend to crypto—outside of a few, recent overperformers, such as the still only-a-week-old Aster.

The crypto market’s longstanding correlation with broader risk assets is today offering little relief, with Bitcoin unable to hold the line at the crucial $111,000 support mark and Ethereum breaking below $4,000, triggering cascading liquidations across digital assets.



The crypto market as a whole has dropped 4.7% so far today, falling to $3.73 trillion and extending a seven-day decline that has revived talk of September’s notorious weakness for digital assets.

Bitcoin’s remaining 1% gain for the month, trading now at just above $109,000, represents the sole barrier preventing the entire crypto market from posting even bigger monthly losses—a precarious position given the asset’s 67% market dominance means minor selling pressure could flip the narrative completely red.

Bitcoin price data. Image: Tradingview

Red September: The fundamentals behind the curse

September has historically delivered negative returns for crypto markets in eight of the past 11 years, a phenomenon traders attribute to institutional portfolio rebalancing after summer holidays and fiscal year-end adjustments.

This year’s pattern seems to be following the script: Despite early buyings pushing the total market cap above $4 trillion with trading volumes surging 27% in the opening days of September, profit-taking mid-month could end up pushing performance to a monthly net loss.

The mechanics of the current selloff reveal how leverage amplified the damage. When Ethereum dropped 9% below the psychologically important $4,000 level—its first breach since August—it triggered $500 million in long liquidations on that asset alone. The contagion spread immediately to smaller tokens more prone to volatility.

The Altcoin Season Index, which measures capital rotation between Bitcoin and alternative cryptocurrencies, fell sharply over the week from 77 to 69 points as investors retreated to the perceived safety of the largest cryptocurrency, Bitcoin. In other words, traders are getting rid of their tokens, some of them rotating into Bitcoin, as the nervousness intensifies.

Alctoin Season Index. Image: Coinmarketcap

For what it’s worth, the way the Alcoin Season Index is structured, it does not matter whether traders are swapping altcoins for Bitcoin or exiting the market completely: Bitcoin dominance increases in either scenario.

What’s more, regulatory headwinds are compounding the observable technical weakness in the charts. The Senate’s October 1 crypto tax hearing and SEC/CFTC joint roundtable on September 29 create event risk that could catalyze selling if outcomes disappoint. Historical data shows crypto markets typically decline 3-5% in the 48 hours preceding major regulatory announcements as traders reduce exposure.

Can Bitcoin save crypto from Red September?

At the moment, the charts say Bitcoin is holding the life saver, but it’s losing its strength.

Users on Myriad, a prediction market operated by Decrypt’s parent company Dastan, believe there’s a nearly 60% chance today will be another red day for BTC, meaning the price of Bitcoin will close the day lower than when it started.

On the plus side, Myriad prediction market users place the odds at 68% that Bitcoin manages to stay above $105K throughout the September. But, for context, those odds have dropped rapidly in just the last few hours, falling from 84% early this morning.

Looking ahead to “Uptober”—with October being historically the best month for crypto markets—Myriad users currently favor the price of Bitcoin reaching $120K, but only by a slight margin over the $110K to $11K range. So, perhaps a green month ahead—just not that green.

Do the charts agree with predictors?

Bitcoin’s technical structure suggests the largest cryptocurrency by market cap may struggle to prevent the broader market from slipping into September losses, despite currently trading above $109,000 and within an ascending trend that has been in place since March.

Bitcoin price data. Image: Tradingview

While Bitcoin maintains a golden cross formation—where the 50-day moving average sits above the 200-day line, typically a bullish configuration—momentum indicators tell a different story. The Squeeze Momentum indicator has flipped to a bearish impulse, marking a shift in short-term direction that often precedes deeper corrections.

The Average Directional Index, or ADX, reads just 17, well below the 25 threshold that signals a strong trend in either direction. This weak trend strength means Bitcoin lacks the momentum to push decisively higher or lower, leaving it vulnerable to external shocks.

The Relative Strength Index—basically a thermometer of how hyped an asset is—sits at 42, having declined from overbought conditions above 70 just weeks ago. This rapid deterioration in momentum while price remains elevated often marks distribution phases where larger holders sell into residual buying interest.

Bitcoin’s ascending channel, while appearing bullish at first glance, actually constrains upside potential. The coin has been bouncing at a very solid support line, showing that bulls refuse to die when prices dip too much. However, the top doesn’t match the bottom, and prices are showing a “lower highs, higher lows,” pattern that usually ends in compression before an explosive movement in the near future.

Bitcoin’s inability to reclaim $115,000 after three attempts this month has created a descending triangle on shorter timeframes, a pattern that resolves lower 67% of the time, according to technical analysis textbooks. The measured move target from this formation points to $108,000, which would represent a 5% decline sufficient to push the entire crypto market into negative territory for September.

The good news for bulls? September will be over in five more days. The bad news? Uptober is no guarantee either.

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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ProfitableMining gains traction as ETFs debut with a bang - 1
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ProfitableMining gains traction as ETFs debut with a bang

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

XRP and DOGE ETFs surge as investors flock to ProfitableMining for automated, zero-entry cloud mining income.

Summary

  • ProfitableMining turns XRP and DOGE ETF hype into passive income with zero-entry, automated cloud mining.
  • Users earn profits without hardware or maintenance, leveraging global mining clusters and low electricity costs.
  • Bank-grade security, flexible withdrawals, and one-click setup make ProfitableMining a leading choice for passive crypto income.

With the XRP and Dogecoin (DOGE) ETFs making a strong debut in the US market, with first-day trading volume exceeding $54.7 million, crypto assets have seen an unprecedented influx of capital and a surge in interest. 

More and more investors, no longer content with simply holding onto their coins and waiting for appreciation, are turning to ProfitableMining — a cloud mining platform that has rapidly gained popularity thanks to its zero-entry, automated, and sustainable income model. 

It allows users to convert market excitement into stable passive income without the need to purchase mining equipment or the burden of maintenance, easily locking in a new engine of wealth growth amid the ETF craze.

ProfitableMining core advantages

ProfitableMining stands out in the fiercely competitive cloud mining market due to its multiple core advantages: balancing profitability, security, and convenience. The platform utilizes a zero-threshold, one-click cloud computing model, eliminating the need for users to purchase mining machines, build mining farms, or shoulder the burden of electricity costs and maintenance. 

Leveraging a global cluster of high-performance mining machines and low-cost electricity, it consistently delivers computing power exceeding the industry average, continuously increasing unit yields. Furthermore, the platform offers daily automatic settlement, transparent profit tracking, and flexible withdrawals in multiple currencies, ensuring clear and controllable fund flows.

Combined with bank-grade asset custody, hot and cold wallet isolation, and a multi-layered security system, ProfitableMining maximizes the security of user funds. Whether someone’s just starting out or are an expert investor, ProfitableMining offers efficient, stable, and sustainable passive income.

Join ProfitableMining now and earn stable returns

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Join ProfitableMining now and stop wasting your money!

ProfitableMining contract solution

Amid the computing power boom triggered by popular currencies such as XRP and Dogecoin, ProfitableMining has launched multi-level cloud computing power contracts based on the capital scale, risk appetite and profit goals of different groups, allowing every user to find their own profit model.

All contracts support multi-currency settlement and immediate withdrawals. The platform automatically settles daily, allowing for clear fund flows and immediate visibility of returns. Whether someone’s a beginner or an institutional investor, ProfitableMining can tailor a path to a unique computing power income path for you.

Create income with ProfitableMining

In the ever-changing world of crypto, only stable passive income can truly support someone through bull and bear markets and ensure steady progress. ProfitableMining leverages leading cloud computing technology, a flexible contract system, and bank-grade security to create a low-barrier, highly efficient, and sustainable income channel for global investors. 

Join now and enjoy 24/7 uninterrupted returns on your assets without having to constantly monitor the market or shoulder hardware and maintenance costs. While others are chasing short-term gains and fluctuations, be building long-term wealth through stable returns. Choose ProfitableMining and let’s build a future of sustainable and secure passive income together.

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Disclosure: This content is provided by a third party. Neither crypto.news nor the author of this article endorses any product mentioned on this page. Users should conduct their own research before taking any action related to the company.



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Crypto Trends

Immutable Token Leads Gains Amid Broader Altcoin Rally

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In brief

  • IMX climbed nearly 17% Thursday and is up 50% over the past week, CoinGecko data shows.
  • Ubisoft and NetMarble collaborations highlight Immutable’s push to bring crypto rewards into mainstream gaming.
  • SEC approval of broader ETF listing standards has added to the upbeat sentiment across altcoins.

Immutable (IMX) led gains among select altcoins on Thursday, buoyed by the Federal Reserve’s decision to slash its funds rate amid positive tailwinds for the gaming token. 

The token tied to Australian crypto gaming and Web3 infrastructure firm of the same name is up nearly 17% on the day, CoinGecko data shows. It’s also up a further 50% over the past seven days.

It comes as a relief for the token, currently ranked 90th among top cryptocurrencies, after dipping below the 100th spot earlier this year.

The gains for IMX also arrive amid a challenging backdrop for crypto gaming, where numerous token-driven projects have shut down this year amid funding shortfalls and unsustainable economies.

Industry experts Decrypt previously spoke to pointed to the pressure of launching tokens too early as a key reason behind the failures.

Looking beyond the difficulties faced in the sector, Robbie Ferguson, Immutable co-founder, remained upbeat in a Thursday tweet on the company’s developments this year.



Some of these key milestones include the distribution of 2.9 million IMX tokens in weekly rewards to users. That number has nearly tripled from its May 13 reveal of almost 1 million tokens.

To facilitate accessibility for its users, Immutable disclosed a partnership with Seychelles-based MEXC exchange on August 18, allowing direct transfer of tokens to Immutable’s zkEVM chain without the use of bridges or other swapping platforms. 

In the same month, Immutable’s April tie-up with $1.3 billion gaming giant Ubisoft came to fruition. “This will make Immutable the first platform in the world where web2 studios can offer crypto rewards to their players,” the gaming company wrote in an August 12 tweet.

A partnership with South Korean Web2 gaming giant NetMarble in June, as well as a merger between ImmutableX and Immutable’s zkEVM chain in April, are other notable developments observed in the first half of 2025.

Avalanche, Pumpfun, and NEAR Protocol are also up double digits this week. While some altcoins rallied after the Fed’s quarter-point rate cut on Wednesday, Hyperliquid, Avalanche, and others received a boost related to protocol-specific developments. 

The U.S. Securities and Exchange Commission’s approval of generic listing standards for commodity-based trust shares that include crypto exchange-traded products has also helped drive sentiment.

“This step from the SEC will likely see some of the altcoins that are eligible for ETFs get capital inflows as people get excited about ETF launches,” Lai Yuen, investment analyst at Fischer8 Capital, told Decrypt.

While the regulator’s rule change “unlocks buying from equity investors,” the analyst tempered expectations, adding that ETFs will “not make it magically more valuable.”

Still, Yuen said a market correction is unlikely, referring to the recent pullback noted in the S&P 500 index and gold overnight, and that crypto is likely in a consolidation phase, with expectations for further gains this year.

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Ethereum Mid-Sized Whales See Peak Unrealized Gains: Profit-Taking Risk Rises
Crypto Trends

Ethereum Mid-Sized Whales See Peak Unrealized Gains: Profit-Taking Risk Rises

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

Ethereum is showing resilience in the current market, holding above the $4,500 level after weeks of steady momentum. The second-largest cryptocurrency has maintained a bullish structure, but buyers are now struggling to break past the $4,750 resistance zone, a level that has become a critical short-term test. While fundamentals remain solid, the hesitation at this threshold has prompted some analysts to warn of growing risks as Ethereum approaches historically significant levels.

Data from CryptoQuant adds weight to this cautious outlook. The firm reports that the unrealized profit of Ethereum wallets holding between 10,000 and 100,000 ETH has surged to levels not seen since November 2021, when ETH reached its all-time high. This means mid-sized whales are now sitting on significant paper gains, similar to conditions observed at the last cycle’s peak.

With bullish enthusiasm still strong but profit-taking risks rising, Ethereum’s next moves could prove decisive. A breakout above $4,750 may open the door to new highs, while rejection could trigger a sharp correction.

Ethereum Whales Signal Critical Stage

Ethereum has entered a pivotal phase as mid-sized whales are now sitting on significant unrealized profits. These paper gains have reached levels comparable to those seen at the November 2021 peak, when Ethereum touched its all-time high. The similarity in profit conditions has raised concerns among analysts, as such moments in previous cycles often preceded periods of profit-taking or heightened selling pressure.

Ethereum Unrealized Profit by Balance | Source: CryptoQuant

Historically, when unrealized profits for mid-sized whales reached such elevated levels, markets tended to experience increased volatility. Some holders opted to lock in their gains, triggering a cascade of selling that weighed on prices. This behavior doesn’t guarantee an immediate correction, but it underscores the psychological pressure investors face when sitting on substantial profits. Market participants, especially larger holders, often influence broader sentiment and liquidity, creating ripple effects across exchanges and trading desks.

At the same time, Ethereum remains fundamentally strong. Institutional inflows, network activity, and the broader optimism in crypto markets could temper aggressive selling and extend the rally. Still, analysts caution that the balance between bullish momentum and profit-taking behavior will determine Ethereum’s trajectory.

The coming weeks are decisive. A successful push above resistance could reignite momentum and test new highs, while increased selling pressure may trigger a consolidation phase or sharper correction. Ethereum’s fate now hinges on whether whales choose to hold for higher valuations or realize gains at current levels.

Technical Insights: Key Levels To Watch

Ethereum (ETH) is currently trading around $4,599, showing resilience above the $4,500 support level. The chart highlights a period of consolidation after ETH failed to sustain momentum above the $4,750 resistance zone, where selling pressure has repeatedly capped rallies. Despite this, the overall trend remains constructive, with ETH maintaining higher lows since early September.

ETH consolidates around $4,600 | Source: ETHUSDT chart on TradingView

The 50-day SMA (blue) is trending upward and sits close to $4,307, providing dynamic support that has cushioned recent pullbacks. Meanwhile, the 100-day SMA (green) at $3,614 and the 200-day SMA (red) at $2,846 reflect the broader bullish structure, suggesting that the market remains in a long-term uptrend. The moving averages are aligned in bullish order, further reinforcing positive momentum.

However, ETH is encountering strong resistance near $4,750, which remains the key barrier before a potential retest of all-time highs. A decisive breakout above this level, accompanied by rising volumes, could open the path toward $5,000 and beyond. On the downside, a failure to hold $4,500 may trigger a correction toward $4,300 or even the $4,000 psychological support.

Featured image from Dall-E, chart from TradingView

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