Crypto Treasury Firms Go on $8B Buying Spree in Historic Week

Marti, a Turkish ride-hailing company, has put 20% of its cash into Bitcoin and plans to increase that to 50%. The move is part of a long-term plan to use crypto as a store of value while keeping its main business growing.
eToro has started offering tokenised US stocks on Ethereum and is planning to build its own blockchain. This would let users trade shares like crypto and use them in decentralised finance.
The US SEC has approved in-kind trading for Bitcoin and Ethereum ETFs, letting firms trade crypto directly instead of using cash. This change is expected to cut costs, improve trading, and make it easier for big investors to enter the crypto market.
Ozzy Osbourne’s NFT collection CryptoBatz saw a big jump in sales and price after news of his death. Trading volumes surged over 100,000% in one day, briefly raising the floor price to around $295.
JPMorgan is planning to let clients borrow money using crypto like bitcoin and ether as collateral. This comes as rules around digital assets in the US become clearer and demand from wealthy clients grows.
The SEC Chairman said Ethereum is not considered a security, which has encouraged companies to increase their Ethereum holdings. This clear regulatory view has helped boost Ethereum’s price and sparked more interest from investors and firms.
ChatGPT said: Shinhan Bank has added cryptocurrency tracking and educational tools to its SOL app, becoming the first South Korean bank to offer such services. The move signals growing acceptance of crypto in traditional banking, with plans to expand into crypto purchases and wallet management soon.
Vitalik Buterin urged developers to simplify Ethereum Layer 2 networks by using Ethereum’s base layer for security and consensus. He said projects should stop rebuilding features Ethereum already provides and focus only on processing and verifying transactions.
Standard Chartered has started offering bitcoin and ether spot trading directly to institutional clients through its UK branch. This makes it the first major global bank to provide regulated crypto trading using existing foreign exchange systems.
As of August 5, 2024, the Ethereum network has destroyed a total of 465,657 ETH since the beginning of the year. After the implementation of EIP-1559 in June 2021, a total of 4.36 million ETH were destroyed.
SOLANA, ETH, deflation and Cancun upgrade push ETH to the forefront Golden Finance, how to profit from ETH deflation
PancakeSwap shifts to deflationary model, cutting CAKE supply by 40%
Cosmos DEX Osmosis has reduced token inflation by 50% with plans for fee sharing in OSMO 2.0 update.
The supply of the second-largest crypto asset Ethereum (ETH) is deflating, thanks to the success.
While the Merge is likely to cause a reduction in ether's supply, making it a deflationary asset, low network usage may delay the expected bullish effect.
With only a week to go before the Ethereum merger, how are key Ethereum metrics evolving? Is ETH still deflationary? What about staking returns?
Currently, the Ethereum network burns more than $65 million worth of ETH per day.
As inflation in the US becomes more than temporary, deflationary assets become essential to wealth creation.
The AXIA native cryptocurrency becomes scarce as the activity or participation on the network increases.