Latest Crypto News | Bitcoin, Ethereum and Altcoin Updates

Bitcoin price dropped over 3% to $110,956 as gains from Fed Chair Jerome Powell’s remarks at the Jackson Hole symposium quickly faded. The benchmark cryptocurrency Bitcoin slipped below $111K across major exchanges, with dominance falling to around 57%. According to QCP Group, a whale offloaded $2.7 billion in BTC, accelerating the downturn. Spot Bitcoin ETFs saw outflows for six straight sessions, adding pressure on bulls. Analysts at Glassnode note that mid-size holders (10–100 BTC) are in distribution mode, raising the risk of a break below $110K. However, QCP Group maintains a bullish outlook, citing buyers’ ability to absorb selling, as in July. With BTC dominance declining, Ethereum (ETH) could benefit, particularly if ETH staking ETFs gain approval later this year. Investors will watch the $110K support level and broader market flows. A sustained move below this threshold may trigger further losses, while a rebound could pave the way back toward the all-time high above $124K.

Trish Turner has resigned as head of the IRS Crypto Unit after just three months to join Crypto Tax Girl as tax director. During her brief tenure at the IRS Crypto Unit, she helped establish foundational crypto tax reporting programs, including initial guidance for Form 1099-DA. Turner’s departure follows earlier exits of Sulolit “Raj” Mukherjee and Seth Wilks from the same team, underscoring ongoing staff turnover and potential delays in issuing crypto tax guidance amid proposed IRS workforce cuts. Crypto traders should maintain detailed records, monitor updates on digital assets tax reporting requirements, and seek professional advice to manage compliance uncertainty.

MicroStrategy, co-founded by Michael Saylor, expanded its bitcoin holdings with a new BTC purchase of 3,081 coins, spending roughly $342 million at an average price of $115,829 each. With this latest BTC purchase, the firm’s total reserve reaches 632,457 BTC, acquired for $46.5 billion at an average cost of $73,527, generating nearly $23 billion in unrealized gains despite bitcoin’s recent dip below $111,000. Meanwhile, Japanese firm Metaplanet added 103 BTC in an $11.7 million purchase at approximately $113,491 per coin. Beyond bitcoin, Tom Lee’s BitMine invested $800 million to accumulate over 190,000 ETH, extending its lead as the largest Ethereum holder. This wave of institutional buying underscores growing corporate confidence and could strengthen market support as bitcoin trading activity intensifies.

Ronin has introduced a developer revenue-sharing program designed to attract game and application builders to its Ethereum Layer2 network. Under the new Ronin developer revenue-sharing program, participants earn commissions when referred users: mint NFTs on the Ronin Launchpad, trade in the Ronin Marketplace secondary market, make in-game purchases via Ronin-powered stores, or pay wallet swap fees. The initiative aims to accelerate ecosystem growth by incentivizing developers to launch or migrate projects to Ronin, increasing transaction volume and user engagement across multiple on-chain revenue streams.

DeFi Development Corp (Nasdaq: DFDV) announced a $125 million equity financing at $12.50 per share to accelerate its Solana treasury growth. Expected to close on August 28, 2025, the deal will fund spot SOL purchases and discounted lock-ups to expand its treasury holdings. This funding is part of DFDV’s early 2025 financing, including convertible debt, PIPE equity and an ELOC loan, bringing total capital raised this year to over $370 million. With this round, DeFi Development Corp reinforces its commitment to expanding Solana treasury assets and enhancing long-term value for shareholders.

Safety Shot, listed on Nasdaq as SHOT, has priced a $30 million strategic investment round. The financing was led by FalconX and includes contributions from the BONK core team. The deal comprises a registered direct offering of $5 million in cash and a $25 million private placement paid in BONK tokens. Shares are priced at $0.46 each. Both offerings are expected to close around August 27, 2025, subject to customary conditions. This strategic investment highlights growing institutional support for Safety Shot’s platform and leverages BONK token utility, potentially boosting token demand and strengthening market confidence.

The Saros Token (SAROS) suffered a steep price crash on August 24, 2025, plunging nearly 70% to $0.109 in hours. This sudden decline erased months of gains for the Solana DeFi platform. Founder Thanh Le linked the crash to leveraged trading, revealing open interest on centralized exchanges fell from 90 million to 20 million SAROS. Neither the Saros team nor long-term holders initiated sales during the storm. After the sell-off, the altcoin staged a recovery, bouncing back to $0.30 as buyers re-entered. However, technical indicators signal persistent volatility: the 4-hour RSI remains below 40, and the MACD shows a bearish crossover with a deep negative histogram. CoinGecko data indicates over 50% of the community retains a bearish outlook. This event echoes Mantra (OM)’s 90% drop in April 2025. Analysts warn that heavy reliance on margin positions heightens altcoin volatility. With a market cap around $922 million, SAROS now tests crucial support at $0.30. Traders should monitor RSI and MACD thresholds to confirm if this rebound will hold or if a further downturn looms.

Pharos, a modular layer-1 blockchain with three-tier architecture, is running an incentivized testnet for its Pharos Airdrop. Participants can complete testnet tasks—swap tokens on Zenith and FaroSwap, provide liquidity, register domain names, and mint NFTs on Grandline and AquaFlex—and stake via AI-powered AutoStaking to earn potential $PHRS rewards. Additional phases include a Layer3 campaign (Aug 21–Oct 1), Ambassador and Storyteller programs offering confirmed token rewards for social engagement and content creation. The airdrop program aims to stress-test Pharos’s ecosystem ahead of its mainnet launch, with compatibility for Babylon and EigenLayer restaking protocols and backing from investors like Faction, Hack VC, SN7 and Reforge. While ambassador rewards are guaranteed in project tokens, general testnet incentives remain speculative until distribution. This multi-pronged approach ensures robust network testing, deeper community engagement, and positions Pharos competitively in the blockchain space.

Scenario Protocol has launched an SNR token airdrop on Base, Coinbase’s Layer 2 network. Early participants can farm SNR tokens by completing social quests, building a reputation score, and referring friends. The protocol filters blockchain noise with user-driven notifications and operates under a staged rollout plan supported by the IncuBase 001 program. To join, users simply sign up via Google or X, finish tasks, invite peers, and stay active to boost their allocation potential. The SNR token serves as a governance, access, and reputation token. It protects against Sybil attacks, supports dispute resolution, and rewards ongoing engagement. By focusing on active participation rather than passive holding, this airdrop strategy lets users maximize their token rewards. With Base ecosystem backing and strong community incentives, the Scenario Protocol SNR token airdrop offers a clear path for crypto traders to earn, engage, and prepare for future network developments.

Bitcoin suffered a flash crash, retracing to around $110,000 after Fed Chair Jerome Powell’s dovish remarks briefly fueled a rally. The pullback halted ether’s upswing and dragged the CoinDesk 20 and CoinDesk 80 indices down 3–4%. Analysts at FxPro observe liquidity shifting from Bitcoin into altcoins, reinforced by on-chain data showing a whale diversifying 100,000 BTC into ether. Institutions continue buying dips—Tokyo-listed Metaplanet added 103 BTC—and Japan’s Finance Minister endorsed crypto as a diversification tool. On-chain perpetuals platform Hyperliquid set a $3.4 billion 24-hour spot volume record, becoming the second-largest spot BTC venue with $1.5 billion in daily BTC volume. Altcoin futures open interest surged to new highs, highlighting growing leverage and volatility in the altcoin market. Traditional markets saw a modest rise in the U.S. Dollar Index while equities and gold traded lower. Upcoming events—Mantle Network’s mainnet upgrade, key U.S. macro releases, token unlocks and listings—could drive further moves. The Bitcoin flash crash may mark the start of altcoin season as liquidity reallocates, offering new trading opportunities.

Access Protocol, the largest on-chain creator ecosystem on Solana, has introduced Creator Coins with a novel Proof of Audience mechanism to validate real market demand before token launch. Early supporters will receive a 10% supply airdrop as an incentive, aligning stakeholder interests from day one. The platform already boasts over 250,000 subscriptions and 330 creators, and this new feature is open to both existing and new users. Complementing its Access Intelligence AI-driven content suite, Access Protocol aims to turn audience attention into digital assets and communities into stakeholders, positioning itself as a complete on-chain toolkit for creators.

Bitcoin dropped almost 10% during the Jackson Hole symposium as investors de-risked on hotter inflation data and weaker ETF flows. After Federal Reserve Chair Jerome Powell’s dovish remarks, a short squeeze lifted digital assets: ETH surged to an all-time high of $4,958.70, while BTC entered a consolidation phase instead of signaling structural weakness. US spot crypto ETFs registered significant outflows—$1.18 billion from Bitcoin products and $197 million from Ethereum in a single day—but corporate treasury accumulation has absorbed much of the supply. With global liquidity rising and ETH balances in corporate treasuries surpassing $10 billion, the long-term outlook remains constructive. BTC is expected to trade range-bound in the near term, while ETH drives capital rotation and altcoins await broader institutional vehicles. On the macro front, Powell’s cautious stance suggested a possible September rate cut but underscored ongoing inflation risks. Strong US manufacturing and services data coexist with persistent price pressures. Crypto regulatory and adoption updates include Thailand’s crypto-to-baht pilot, SharpLink Gaming’s increase to over 740,000 ETH, and the CFTC’s expanded ‘Crypto Sprint’ with the SEC.

On August 25, on-chain data revealed a whale ETH sale of 3,054 ETH at $4,534 per ETH, converting into 13.85 million DAI. This whale had initially swapped BTC for ETH in January at an ETH/BTC rate of 0.0354, around $3,278 per ETH. The transaction netted a $7.79 million realized profit. The on-chain ETH/BTC rate has since risen to 0.0413. This whale ETH sale highlights significant profit-taking and may influence short-term ETH price action. Crypto traders should track on-chain analytics to gauge market sentiment and stability.

Hyperliquid (HYPE) has rallied from $40 to $47, reinforcing $44 as a critical support level and setting sights on its all-time high resistance at $50. Since July, price action has carved out a large ascending triangle, with a likely resolution by mid-September. A successful breakout above $50 could trigger new highs and price discovery, while a failure risks a retrace toward $40. The 12-hour RSI also shows consolidation in a symmetrical triangle, suggesting a continuation pattern that favors a bullish breakout. Traders should monitor volume and key support and resistance levels to confirm a sustained rally.

Ripple CTO David Schwartz announced that his independently developed XRPL Hub server has delivered stable performance over recent tests and is poised for wider production deployment next week. Performance charts shared by Schwartz show peer connections growing from around 300 to over 357 and 10% latency consistently below 33 ms since a restart five days ago. Occasional latency spikes linked to outbound bandwidth usage remain within acceptable limits, and peer disconnections have normalized to roughly 17 per interval. The hub reserves connection slots for UNL validators, key nodes and XRPL-based applications, aiming to boost network reliability and provide developers with a consistent gateway into the XRP Ledger. Traders and developers closely watching the XRPL ecosystem view this milestone as a positive step toward reinforcing the XRP network’s infrastructure and could signal renewed confidence in XRP’s long-term utility.

Memecoin PENGU endured a significant $70 million liquidity outflow in 24 hours, driving Open Interest on CoinGlass down to $332.7 million and prompting heavy long-side liquidations. Despite this sell-off, the OI-weighted funding rate remained positive—falling from 0.0265% to 0.0063%—highlighting persistent bullish interest. Exchange netflow data revealed over $14.5 million of PENGU tokens moved into private wallets in the past 72 hours, reducing sell-side liquidity and reinforcing buying pressure. On-chain metrics and technical indicators support a potential reversal: the coin is trading near a key support line within a bullish triangle pattern, the Chaikin Money Flow peaked at 0.04, and the Average Directional Index slid to 20.91, signaling weak bearish momentum. Overall, while the liquidity drain sparked a 9% price drop, growing bullish sentiment and scarce token supply on exchanges point to a possible rebound for PENGU.

Bybit, a leading cryptocurrency exchange, has announced that CFG listed on Bybit spot market is now available for trading. This listing allows traders to buy and sell CFG against major stablecoins, boosting liquidity and market accessibility. With this new spot listing, CFG joins a growing roster of altcoins on Bybit, offering traders fresh opportunities to diversify their portfolios. Historical patterns show that exchange listings often drive short-term price rallies and sustained trading interest, suggesting a bullish outlook for CFG following this announcement.

On August 25, 2025, Canary Capital Group filed an S-1 for an American-Made Crypto ETF that would hold only cryptocurrencies invented, mined or primarily operated in the United States. The crypto ETF aims to channel institutional demand into U.S.-origin digital assets and spark regulatory scrutiny on domestic operations. Eligibility criteria include tokens created entirely in the U.S., assets mined on American soil, or projects with core governance based in the country. By narrowing its focus, the American-Made Crypto ETF seeks to replicate the liquidity boost seen in U.S.-centric equity and bond funds within the crypto sector. Market participants and institutional investors are watching the SEC review closely. Regulators are expected to examine custody arrangements, provenance verification and the enforceability of a U.S.-only rule. A favorable decision could set a precedent for jurisdictional selection in crypto ETFs and improve liquidity for qualifying tokens such as XRP. In the short term, traders may hold positions pending SEC feedback. Long term, approval could drive inflows, bolster U.S. crypto infrastructure and increase institutional allocations to domestic digital assets.

MicroStrategy bolstered its Bitcoin holdings with two recent buys: 430 BTC ($51.4 M) at an average of $119,666 and 3,081 BTC ($356.9 M) at $115,829, executed as BTC swung from record highs near $124,000 to lows around $112,000. These purchases lift MSTR’s total Bitcoin stash to 632,457 BTC, acquired at an overall average cost of about $73,500 per coin. In August, the firm added 3,666 BTC—down sharply from July’s 31,466 BTC—reflecting a more cautious pace of accumulation amid market volatility. This trend underscores growing institutional demand for Bitcoin and highlights key support levels around $112,000, offering traders insight into short-term price floors and long-term accumulation strategies.

Billionaire heiress Taylor Thomson has filed a lawsuit against her former friend and crypto manager Ashley Richardson, seeking to recover over $80 million lost in cryptocurrency trades. Between 2021’s bull run and the market downturn in 2022, Thomson entrusted Richardson with $140 million, whose decisions were allegedly influenced by a psychic. The suit alleges unauthorized trades, misrepresentation of risks, and breach of fiduciary duty. Richardson denies wrongdoing, countersuing that Thomson approved all actions and losses stemmed from market volatility. The case underscores the need for clear investment agreements, professional oversight, and due diligence in the volatile crypto market.

B Strategy has announced Nasdaq listing plans for its BNB Treasury Company, targeting $1 billion in fundraising with backing from YZi Labs. The Nasdaq listing aims to formalize institutional access to BNB investment vehicles. B Strategy will leverage its Asia-Pacific network for liquidity, market intelligence and distribution. A group of Asian family offices will serve as anchor investors to support the offering. YZi Labs expects to complete the Nasdaq listing and associated fundraising in the near term. Post-listing, the new entity will partner with licensed institutions to offer regulated, leveraged BNB investment exposure. This initiative could boost institutional participation and liquidity in the BNB market.

Independent Bitcoin miners face rising energy costs, volatile markets and stiff competition from capital-rich firms like MARA and Riot, which leverage renewable energy deals, global diversification and AI data centers to buffer downturns. This imbalance risks consolidating hashpower and eroding Bitcoin’s decentralization. Merged mining offers a critical lifeline: it allows miners to reuse the same computational work to secure Bitcoin-compatible chains simultaneously without extra hardware or energy, creating parallel revenue streams. By boosting margins during bear markets and post-halving squeezes, merged mining helps small and mid-sized miners survive tough cycles and maintain a distributed hashrate. Smaller operators can swiftly implement merged mining configurations, optimize returns and adapt to market shifts. Embracing merged mining strengthens network resilience, levels the playing field and protects Bitcoin’s long-term decentralization.

Solana price dropped below $200 following a sharp rejection at $213 and failed to hold the $198–$200 support zone. Technical analysis on the 4-hour chart shows a bearish MACD crossover and a declining RSI, suggesting a deeper retracement toward key support at $190–$192 and $185 if levels at $195–$198 fail. Trading volume surged over 100% in 24 hours, indicating potential buyer interest to defend the current level. Derivatives data from Coinglass reveals a slight short-term bearish bias, yet top traders on Binance maintain 2.7:1 long positions, viewing the pullback as a buy-the-dip opportunity. Market participants will watch the $198 pivot for a possible rebound toward $210–$213 and beyond to $220+.

Football.Fun, a Web3 football fantasy game deployed on the Base blockchain, has attracted substantial attention with its rapid TVL growth and wealth creation potential. Players trade tokenized footballer shares using Gold (pegged to USDC) and earn weekly rewards based on real-match performance. In just two weeks, the platform reached over $10 million in TVL, 10,000 wallets, and $1.5 million in fees. The project raised $2 million in a July 2025 seed round led by 6th Man Ventures. Football.Fun’s economy hinges on trading and transaction fees, with a 5% base fee rising to 25% for large trades. While participants have reported doubling investments within hours, critics warn of Ponzi-like sustainability risks if new users slow down. New players can start with a free trial granting virtual currency and player packs or join the Pro mode by converting USDC to Gold in a Base-compatible wallet. Despite concerns about long-term viability, Football.Fun demonstrates strong short-term market interest, making it a focal point for crypto traders seeking high-risk GameFi opportunities.

Stablecoins have evolved through three distinct phases. Generation 1 began with crypto purists who saw tokens like USDT as a bridge across exchanges to avoid fiat rails. By 2021’s DeFi Summer, Generation 2 cemented USDT and USDC as the primary medium of exchange and yield unit, with combined market caps surging from under $10 billion in early 2020 to over $150 billion today. This growth birthed “shadow banks” in issuers like Tether and Circle. Backed largely by U.S. Treasury bills (over 80% of reserves), they now hold hundreds of billions in short-term bonds, effectively becoming major liquidity providers outside traditional finance. Their 24/7 global settlement layer challenges SWIFT’s rigidity and reshapes cross-border payments. The collapse of algorithmic stablecoins such as Terra UST fueled a regulatory narrative that equates decentralization with failure. Yet UST’s model failure does not invalidate all algorithmic designs. Instead, it highlights the trade-off: on-chain code trust versus off-chain regulatory trust. Today’s regulated stablecoins offer efficiency but also grant authorities one-click freeze powers—seen when Circle froze Tornado Cash wallets on demand. This embeds a surveillance tool into the crypto plumbing and shifts financial sovereignty toward issuers’ jurisdictions. The result is a digital dollar infrastructure that boosts liquidity and lowers costs but sacrifices censorship resistance and privacy. Traders must weigh seamless settlements against policy risk. The debate between efficiency and freedom will define the next evolution of stablecoins.

The US Federal Trade Commission (FTC) has issued warning letters to major technology companies. It cautions against weakening encryption on their platforms. The letters state that companies risk legal consequences under US privacy regulations if they reduce encryption to meet foreign government mandates. The FTC underscores that maintaining strong encryption is vital for data protection and user privacy. FTC Chair Andrew N. Ferguson invited the companies to meetings to discuss strategies for resisting foreign censorship attempts. The discussions aim to ensure continued data security and uphold encryption standards across the industry. This action reaffirms the federal commitment to user privacy and data protection. Companies must maintain robust encryption or face potential enforcement actions.

The Tokyo WebX Summit kicked off on August 25, drawing global crypto projects, investors and partners to discuss Web3 innovation, digital asset compliance and cross-border collaboration. BitMEX co-founder Arthur Hayes predicted a 126× rise for the HYPE token within three years, driving HYPE up 5% to around $45.6, with a daily peak of $47.37. Gate Exchange CEO Dr. Han unveiled the exchange’s rebranding to Gate.com and stressed that broad Web3 adoption hinges on seamless user experience, supportive regulation and industry cooperation. As the summit’s title sponsor, Gate will host an invite-only VIP event in Tokyo to foster Asia-Pacific partnerships. Japanese Prime Minister Shigeru Ishiba attended and announced a five-year plan to bolster innovation in Web3, AI and digital industries, with practical Web3 applications set for Expo 2025. The summit solidifies Japan’s proactive stance on blockchain development and signals bullish momentum for the crypto market.

US-listed BitMine disclosed that as of August 24, its combined cryptocurrency and cash holdings reached $8.82 billion. The portfolio includes 1,713,899 ETH, 192 BTC and $562 million in unallocated cash. Over the past week, holdings rose by $2.2 billion, driven by an addition of over 190,500 ETH, lifting ETH holdings from 1.52 million to 1.71 million. BitMine’s aggressive accumulation underscores growing institutional interest in crypto assets and strengthens its balance sheet. Investors will watch for potential impacts on ETH supply and market sentiment as BitMine continues to scale its digital asset reserves.

Solana (SOL) has reclaimed the $200 level as bullish momentum builds for a potential surge to new all-time highs. On-chain expert Darkfost of CryptoQuant highlights upward-sloping 21- and 50-day EMAs above the 200-day EMA and an RSI holding above 50% on daily charts. Two key patterns—a Broadening Megaphone structure targeting $300 and a Harmonic BAT pattern aiming for $275—suggest a breakout is imminent. A verified daily close above $210 may trigger the next bullish wave, with objectives between $250 and $300. Weekly charts confirm this strength, showing rising 21- and 50-week EMAs, a weekly RSI above 50%, and the emergence of the harmonic BAT pattern. Despite trailing Ethereum (ETH), SOL’s technical indicators point to ample room for growth. Traders should monitor key levels at $210, $275, and $300 to gauge Solana’s next move.