Crypto Assets Market Dynamics

Today's News

• The Cardano community approved a $71 million core development budget to promote the development of ADA.
• Bitcoin spot ETF saw a net outflow of $643 million last week, ending seven consecutive weeks of net inflows.
• The daily token issuance of Base chain surpasses Solana, thanks to Coinbase's "SocialFi" strategy.
• Lido announced a layoff of about 15% to ensure long-term sustainable development.
• YGG established Onchain Guild, allocating 50 million YGG coins to explore profit opportunities.
• A trading platform will launch the SUPER STAKING event for the SIGN project.

Market Views

Robert Kiyosaki, the author of "Rich Dad Poor Dad," recently expressed his views on social media, suggesting that Bitcoin might fall below $90,000 due to the "August curse." He stated that if the price drops, he will double his holdings in Bitcoin. Kiyosaki emphasized that there is nothing wrong with Bitcoin itself; the real issue lies with the massive debt in the United States and the management by the Federal Reserve and the Treasury. He also mentioned that he recently participated in several financial education events, discussing future trends with investment experts, and believes that the potential decline in Bitcoin will benefit most investors.

Analysts from a certain data analysis platform have pointed out that the Bitcoin bull market has entered its later stage, with investors' risk appetite gradually declining. Data shows that the relevant indicators broke above 1.9 in March and December 2024, but have recently formed lower peaks, leading holders to start actively selling, putting pressure on the market. Although investors are still making profits, the marginal gains from each price increase are gradually decreasing. In the context of the Federal Reserve's expectation of two rate cuts this year, it is predicted that there will be two more rebounds in this cycle, after which selling pressure may exceed demand, potentially leading the market into a correction phase.

Another analyst observed that long-term Bitcoin holders are still in a healthy profit zone, demonstrating strong belief and willingness to hold their coins. Short-term holders, on the other hand, fluctuate around lower profit levels, indicating that there may be some selling or short-term pressure during the price increase. Currently, the price of Bitcoin is approaching the $104,000 area, mainly supported by the confidence of long-term holders. The overall trend remains bullish, but short-term holders may trigger some phase correction pressure.

A research institution analyzed that Bitcoin has fallen below the key technical support level of $112,000 in the past few weeks, causing a shift in market sentiment. This round of decline continued the seasonal weakness from August and was also affected by macro uncertainties triggered by downward adjustments in labor market data. A similar situation occurred at the same time last year when the Federal Reserve unexpectedly cut interest rates by 50 basis points due to market pressure. The current market has priced in two rate cuts, with the first cut likely to happen in September. Until the economic and market fundamentals improve, risk assets may continue to perform weakly.

Project Updates

The trading platform Alpha will launch the Fireverse (FIR) token on August 6th. Eligible users can claim airdrops through points on the event page after the trading begins.

The world's largest decentralized gaming guild network, Yield Guild Games (YGG), has announced the establishment of a new Onchain Guild and allocated 50 million YGG tokens (worth approximately $7.5 million) to the ecological fund pool for exploring yield generation strategies. YGG's Onchain Guild adopts a decentralized structure, using only guild assets for exclusive trading and does not accept third-party capital or provide investment services. The ecological fund pool is jointly led by YGG's Corporate Development Manager Serge-Raymond Nzabandora and Corporate Development Director Andy Chou.

The trading platform Alpha has become the first platform to launch the DarkStar (DARK) token, with trading starting on August 4, 2025, at 20:00 (Beijing time). During the event, users holding at least 200 Alpha platform points can claim airdrops of 1000 DARK tokens, on a first-come, first-served basis. If the event is not over, the points threshold will automatically decrease by 15 points every hour.

A certain trading platform announced that the BNSOL Super Staking will launch the twelfth project - SIGN (SIGN), a multi-chain certification protocol that provides digital public infrastructure for governments and serves as the foundational layer for decentralized applications. From August 5, 2025, 08:00 to September 6, 2025, 07:59 (UTC+8), users who complete the relevant operations will receive the SIGN APR Boost airdrop rewards.

Lido co-founder Vasiliy Shapovalov stated last weekend that to ensure long-term sustainable development, Lido Labs, the Lido ecosystem, and the Lido Alliance have decided to reduce the size of the contributor team, affecting about 15% of employees. This decision is purely based on cost considerations and is unrelated to work performance. Although making such a decision during a market upturn may seem counterintuitive, this move reflects a strong commitment to sustainable growth, operational focus, and alignment with the interests of LDO token holders.

A report recently released by a well-known enterprise, a research institution, and the UK CBT states that digital assets are becoming mainstream. Since 2020, traditional banks have invested over $100 billion in blockchain. Despite regulatory uncertainties and market volatility, major banks continue to increase their investments in custody, tokenization, and payment infrastructure. The report also found that 90% of surveyed financial leaders believe that these technologies will have a significant or huge impact on finance within the next three years.

A data analysis platform shows that the Ethereum Layer 2 network supported by a certain trading platform has surpassed Solana in daily token issuance. This change is mainly driven by the decentralized social platform Zora, whose "Creator Coin" model transforms content into tradable assets. After a certain trading platform's app was transformed into a SocialFi entry in July, the ZORA token has increased by over 500% in the past month.

The Cardano community has supported a proposal called "IOE Roadmap" with a support rate of 74.01%. This proposal will utilize approximately 96,817,080 ADA (about 71 million USD) from the treasury funds to finance core protocol development, with a focus on advancing technological upgrades in scalability, developer experience, and interoperability.

Important Data

A report released by a research institution shows that digital asset investment products experienced a net outflow of $223 million in the past week, marking the first negative value in 15 weeks. Despite an inflow of $883 million recorded at the beginning of the week, the fund flow reversed later due to hawkish signals from the Federal Reserve and strong economic data from the United States, with over $1 billion flowing out on Friday alone. Bitcoin led the decline, with an outflow of $404 million during the week, but its year-to-date (YTD) net inflow remains at $20 billion, reflecting its high sensitivity to changes in monetary policy. Ethereum, on the other hand, recorded a net inflow for 15 consecutive weeks, totaling $133 million.

According to statistics from a data platform, last week's trading days (Eastern Time from July 28 to August 1) saw a net outflow of 643 million USD from Bitcoin spot ETFs. The Bitcoin spot ETF with the highest net inflow last week was Blackrock's Bitcoin ETF IBIT, with a weekly net inflow of 355 million USD. Next was the VanEck ETF HODL, with a weekly net inflow of 9.13 million USD. The Bitcoin spot ETF with the highest net outflow last week was Ark Invest and 21Shares' ETF ARKB, which had a net outflow of 444 million USD. Next was the Fidelity ETF FBTC, with a net outflow of 354 million USD. As of the time of publication, the total net asset value of Bitcoin spot ETFs was 146.48 billion USD, and the ETF net asset ratio (the market value compared to Bitcoin's total market value) reached 6.46%, with a historical cumulative net inflow of 54.18 billion USD.

A data platform shows that Ethena's synthetic stablecoin USDe has reached a market capitalization of $9.293 billion, with a growth of 75.13% over the past month. USDe is currently the third largest stablecoin by market capitalization, following USDT and USDC.

Financing/Aquisition

CACEIS, the asset services division of Crédit Agricole, has acquired a minority stake in the French fintech company Kriptown to support the launch of the blockchain exchange Lise. Lise aims to simplify equity financing and listing processes for small and medium-sized enterprises and become the first tokenized exchange based on blockchain in Europe. The platform is currently awaiting approval for the DLT trading and settlement system under the EU pilot program, which, if approved, will allow companies to issue, trade, and settle financial instruments directly on a distributed ledger, significantly reducing the time and cost of traditional IPOs. The first IPO is expected to start in 2025.

Institutional Positions

Japanese nail salon chain Convano Inc. announced plans to hold 21,000 coins by the end of March 2027, and to raise 2 billion yen (approximately 13.54 million USD) within August to acquire more coins. The company has purchased approximately 165 coins within two weeks since initiating its coin reserve strategy.

The Japanese listed company Metaplanet announced that it spent approximately 53.7 million USD to buy back 463 coins at a price of about 115,895 USD each. As of the beginning of 2025, its Bitcoin return rate has reached 459.2%. As of August 4, 2025, the company holds 17,595 coins, with a purchase cost of about 1.78 billion USD, and the average purchase price is about 101,422 USD per coin.