An unknown wallet minted 100M USDC, worth $99,985,200, on the Algorand network, raising questions within the crypto community. source: https://coincu.com/354710-unknown-wallet-mints-usdc-algorand

Popular analyst TradingShot believes the cryptocurrency’s long-term price structure could support a run toward $200,000 before the next market peak. source: https://coindoo.com/market/bitcoin-price-technical-patterns-point-to-200k-rally-ahead/

A screenshot of the proposal for the stablecoin circulated last week before it was deleted. source: https://decrypt.co/335090/metamask-unveil-plans-new-stablecoin-mmusd

Dogecoin (DOGE) is riding a fresh wave of bullish momentum after whales scooped up 1 billion DOGE, worth roughly $200 million, in just 24 hours. The massive accumulation has helped push DOGE over 11. 2% higher in the past day, with prices currently hovering around $0. 24, according to CoinMarketCap source: https://www.newsbtc.com/dogecoin-2/whales-scoop-up-1b-doge-as-golden-cross-forms-confidence-build-up-for-the-next-moon-mission/

Ethereum’s price climbed to $4,724 on Wednesday, edging closer to the $5,000 milestone as on-chain activity surged. Daily average transactions on the Ethereum network reached over 1.7 million, near record levels, according to Nansen data. However, Ethereum’s dominance is being challenged by layer-2 scaling solutions and next-gen layer-1 competitors, eroding protocol revenues and user share.Transaction Growth Overshadowed by L2 and L1 RivalsEthereum Layer-2 Surge: Arbitrum processed 3.4M transactions, and Base recorded 8.6M in the same period — both surpassing Ethereum’s mainnet.External Competition: Aptos, a high-throughput layer-1 blockchain, hosted 3.8M transactions on Monday, underscoring growing cross-chain competition.Stagnant User Base: Active addresses on Ethereum remain within the 400K–600K range since 2018, with occasional spikes above 1M.Revenue Decline After Dencun UpgradeThe March 2024 Dencun upgrade slashed L2 transaction fees, incentivizing users to migrate activity away from Ethereum mainnet. While this reduced congestion, it also lowered network revenue as gas fees fell from highs of $50+ per transaction during peak periods.Impact: Cheaper L2 costs benefited users but hurt Ethereum’s base-layer fee market.Competitors: Solana, Sui, and other L1s are drawing activity with low fees and high throughput.Strategic Crossroads for EthereumIndustry leaders warn that chasing raw performance metrics could be risky. Polygon Labs CEO Marc Boiron cautioned against Ethereum trying to outpace next-gen L1s purely on speed, emphasizing the need for a differentiated scaling and execution roadmap, according to Cointelegraph. Market OutlookPrice Target: Traders eye the $5K resistance zone, with strong ETF inflows adding bullish momentum.Risks: Continued L2 migration and cross-chain competition could further erode mainnet revenues.Opportunities: Ethereum’s strong developer ecosystem and L2 dominance may offset base-layer volume losses in the long term.

Bitcoin surged to a new all-time high of $123,231, while Ethereum crossed the $4,500 mark and Binance Coin (BNB) climbed to $830 after U.S. inflation data met expectations. The rally follows the July Consumer Price Index (CPI) report showing inflation unchanged at 2.7% year-over-year, below the forecast of 2.8%, boosting investor confidence in imminent Federal Reserve rate cuts.Macro Drivers Behind the RallyInflation Data: CPI held steady at 2.7% YoY, with a modest 0.2% MoM rise versus June’s 0.3%.Rate Cut Expectations: CME FedWatch now shows a 93.9% probability of a September rate cut, as traders anticipate the Fed easing monetary policy.ETF Inflows: Spot Bitcoin ETFs recorded $65.9M in net inflows, while Ethereum ETFs saw a record $1B daily inflow, driving liquidity across the market.Correlated Risk Rally: The S&P 500 also reached a record 6,457, reflecting a broader risk-on sentiment.Technical Outlook & Market StructureBTC Resistance Zones: Hyblock liquidation heatmaps show a large short-squeeze cluster between $122,800–$125,500, with $2B in short positions at risk of forced closure.ETH Momentum: Ethereum’s breakout past $4,500 has ignited bullish calls, with traders eyeing $5,000 as the next target.BNB Strength: BNB’s push toward $850 highlights strong altcoin rotation alongside large-cap moves.[Chart Suggestion]: Combined price-action chart with:BTC and ETH price vs. CPI release dateShort liquidation clusters (Hyblock data overlay)Exchange outflow spikes for ETH and BTCAltcoin Market ReactionGoogle Trends data shows “altcoin” search volume hitting a five-year high, suggesting retail interest is resurging. Mid-cap and AI-linked tokens are seeing double-digit gains, while Binance Futures added two new high-leverage contracts (AIOUSDT and XNYUSDT), potentially drawing speculative flows, according to Cointelegraph.Prospects & Risks AheadUpside Potential:BTC could challenge $125K–$126K if liquidation cascades continue.ETH’s ETF momentum may push it toward the $5,000–$5,500 zone in the short term.Downside Risks:Stronger-than-expected economic data could delay Fed cuts.Overleveraged positions increase the risk of sharp corrections.

Letitia James, who holds New York state’s top law enforcement position, has come under scrutiny from some, claiming she was engaging in “lawfare” against the crypto industry. source: https://cointelegraph.com/news/crypto-lawyer-challenging-new-york-attorney-general?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Federal Reserve Chairman Austan Goolsbee expressed fresh concerns over services sector inflation, even as headline price growth has moderated in recent months. Speaking after the latest Consumer Price Index (CPI) release, Goolsbee noted that while overall inflation has been mild for several months, the services category remains “worrying.”Inflation BreakdownHeadline CPI: Mild inflation for several months.Services CPI: Latest data shows a notable uptick, raising concerns about persistent price pressures in labor-intensive industries such as housing, health care, and transportation.Policy ImplicationsGoolsbee’s comments could signal caution within the Fed ahead of the September 16–17 FOMC meeting. Persistent services inflation often reflects deeper wage and cost pressures, making it harder to bring overall inflation back to the Fed’s 2% target.Hawkish Tilt Possible: If services prices remain elevated, the Fed may delay further rate cuts.Market Reaction: Treasury yields edged higher, while the dollar’s earlier losses slowed. Risk assets such as equities and crypto saw muted gains on the remarks.Why It Matters for MarketsEquities: Higher-for-longer rates could slow momentum in growth stocks.Crypto: Persistent inflation risks could keep the Fed cautious, tempering bullish sentiment driven by recent CPI moderation.Forex: The dollar may find short-term support if rate cut expectations fade.

Crypto advocacy initiative the DeFi Education Fund and Andreessen Horowitz (a16z) are encouraging the United States Securities and Exchange Commission (SEC) to develop a “safe harbor” for apps pertaining to the blockchain sector, according to an August 13 blog post published on the a16z website. SEC Asked to Create Blockchain Safe HarborBoth the DeFi Education Fund […] source: https://cryptonews.com/news/defi-education-fund-andreeson-horowitz-demand-sec-create-blockchain-safe-harbor/

The U.S. dollar index (DXY) fell 0.26% on Wednesday to close at 97.839, as both the euro and British pound gained ground amid shifting currency market sentiment.At the New York FX close, the euro traded at $1.1700, up from $1.1669 the previous day. The British pound climbed to $1.3567 from $1.3496.Against other major currencies:Japanese yen: $1 = 147.44 yen (down from 147.73)Swiss franc: $1 = 0.8056 francs (down from 0.8074)Canadian dollar: $1 = 1.3771 CAD (down from 1.3777)Market DriversThe dollar’s decline comes as traders weigh mixed U.S. economic data and potential Federal Reserve policy shifts. Softer inflation expectations and dovish signals from some Fed officials have pressured the greenback, while stronger European economic sentiment has supported the euro and pound.Implications for TradersForex Markets: The DXY’s drop below 98 could open the door for further short-term weakness, particularly if upcoming U.S. economic releases underperform.Commodities: A weaker dollar often supports commodity prices, especially gold and oil, by making them cheaper for non-U.S. buyers.Crypto: Bitcoin and Ethereum could see renewed buying momentum as dollar weakness tends to boost risk assets.

Uniswap V4, regulatory approval, v4 launch, profit-sharing experiment: It’s time to re-evaluate Uniswap. Golden Finance, the story of Uniswap seems to be entering the next stage.

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Golden Finance has launched the "Golden Web3.0 Daily" to provide you with the latest and fastest MEME, DeFi, DAO, NFT and metaverse industry news.

KYC, when KYT tools become "zombie systems": what you think is compliance is actually a trap. Golden Finance, lift the curtain and see the truth behind the scenes.

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The United States has extended its 90-day trade truce with China, pushing the deadline from August 11 to November 10 under a presidential decree.

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Vivopower International has partnered with Crypto.com to manage its growing digital asset portfolio, including a \$100 million XRP reserve. The collaboration will provide institutional-grade custody, trading access, and DeFi options, giving Vivopower exposure to Crypto.com’s 150 million users.

Vladimir Tenev first disrupted the fee model of the financial brokerage industry and now has increased his wealth fivefold to $6 billion by actively embracing cryptocurrencies.