This week, crypto has experienced many ups and downs.
Bitcoin peaked at $124k early in the week, then went down sharply after the unexpected PPI data was released. It dipped to $115k by midweek, before testing the $110k support.
Ethereum also dropped to $4,000 at the start of the week, preceding its all-time high of $4,890 on the weekend.
Crypto market cap hovered at $4 trillion, with
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Markets stayed calm before Fed Chair Powell’s Jackson Hole speech yesterday. After the speech, though, god candles were seen everywhere. JPMorgan forecasted four rate cuts in 2025 starting in September, and it brought “Crypto” Google searches to a yearly high.
Fed eased bank oversight for crypto services and Japan approved stablecoins. Following it, Eric Trump planned Tokyo ‘Metaplanet’ visit to push crypto.
https://twitter.com/ItsSamArthur/status/1958899470386831743?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank
There were allegations about the Trump family coin, which raised $320 million but plunged 88%, raising scam claims against them.
Next on the headline was the Dutch firm Amdax, it was announced that they built BTC treasury fund to target 1% Bitcoin supply. Others institution like Metaplanet held 18,888 BTC and Biotech pivoted to ETH treasury as ETHZilla.
Big news also comes from the US Drug Enforcement Agency. As per Forbes, the DEA has crazily laundered $19 million for cartels using crypto.
There was update on Terra news too as Do Kwon pled guilty. The Terra Lab founder is facing 12 years imprisonment and $19 million forfeiture.
And just like any other celebrity crypto meltdown, Kanye West’s meme coin pumped to a $3 billion cap before crashing mid-week.
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Spot Ethereum ETFs saw $729 million in inflows initially, outpacing Bitcoin ETFs at $548 million this week. Flows later reversed to $422 million outflows for ETH and $523 million for BTC, with BlackRock’s holdings topped at $104 billion.
Tokenized RWAs surpassed $1 billion, and AI agents emerged as Ethereum’s top users with NEAR and IQAI integrations.
ERC-8004 proposed a trustless AI standard on Ethereum. Ethereum hit all-time highs in transactions and addresses, with low gas. 0G Labs enabled large AI models at high bandwidth.
But, thats not all, not only the txs count and addresses, Ethereum also hit its all time high this week after years of waiting by ETH crypto maxis.
Story Protocol raised $82 million, but it also saw its founder stepping down. BtcTurk lost $23 million in a hack, and Justin Sun disputed Bloomberg on the billionaires index.
And…Crypto might join 401(k)s soon—a huge boost.
Anthony Scaramucci eyed $180K-$200K BTC by year-end. Vanar CEO discussed crypto future in NYPost. Elon Musk dropped political party idea.
https://twitter.com/FoxNews/status/1958186929259753515?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank
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After a month of running LINK ▲5.35% could be aiming for its all-time high of $52. Some analysts think that Chainlink is undervalued, and they could probably right, especially with booming RWA sector.
Do you agree?
https://twitter.com/Rypto__/status/1959235055236108315?ref_src=twsrc%5Etfw” rel=”nofollow” target=”_blank
Pudgy Penguins is evolving from an NFT collection into a cultural force, with PENGU crypto, which about to break its all time high. The project is about cute penguin with real-world merchandises, like toys in Walmart.
The Solana memecoin is rewarding holders through staking and bunch of community perks. Just after launch, it hit over 800,000 holders, especially with it’s big airdrop campaign. Now trading at around $0.035, PENGU could go above and beyond soon.
Will Pengu blast its own record on the all-time high next week after dwarfing Pokémon?
Read the full story here.
DISCOVER: Top Solana Meme Coins to Buy in 2025
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