News & Research

Cyvers Alerts reported on X that it has detected suspicious transactions on the Sonic Network involving decentralized lending protocol Credix, where an address funded through Tornado Cash bridged funds to Sonic, borrowed about $2.64 million and transferred most of it back to Ethereum (ETH). Credix confirmed a security breach and is investigating the incident.

Cointelegraph outlines five key factors influencing Bitcoin’s market this week: -$116,500 key resistance -U.S. Federal Reserve speakers’ rate-cut clues -Whale and retail sell-offs -Apparent demand stays positive -Long-term accumulation trend

Digital asset investment products experienced a combined net outflow of $223 million last week, marking a reversal after 15 consecutive weeks of positive flows, according to the latest Digital Asset Fund Flows Weekly Report released by CoinShares in a blog post. Among them, Bitcoin investment products recorded a net outflow of $404 million, while Ethereum investment products recorded a net inflow of $133.9 million. "While the weak payrolls data at the end of the week had dovish connotations for the FED, general risk-off sentiment led to further outflows, with over US$1bn on Friday," CoinShares noted. Although Bitcoin investment products recorded a net outflow last week, their year-to-date (YTD) inflows remain strong, amounting to approximately $20 billion. By contrast, Ethereum has witnessed its 15th consecutive week of net inflows, demonstrating bullish market sentiment towards the token.

Robert Kiyosaki, best-selling author of Rich Dad Poor Dad, said on X he plans to double his Bitcoin (BTC) holdings if the price drops below $90,000 in August, a month when BTC has historically been weak. He said the real issue isn't BTC but the U.S.'s massive debt and poor leadership at the Federal Reserve and Treasury. A sharp drop this month, he added, could benefit long-term BTC investors by creating a strong buying opportunity. Kiyosaki also said early last month he hopes for a BTC crash so he can buy more.

Institutional custody platform Ceffu transferred 23,321 ETH ($82.64 million) to crypto exchange Binance about 30 minutes ago, according to on-chain data shared by The Data Nerd on X.

A survey tracking weekly trends among South Korean cryptocurrency investors, conducted by CoinNess and Cratos from July 29 to Aug. 1, found that 37% of respondents expect Bitcoin's (BTC) value to increase or significantly jump this week, a decrease from last week's 49.4%. Meanwhile, 34.2% predict a stable market, up from 28.2% last week, and 28.8% anticipate a decline or sharp drop, up from 22.4% previously. When asked about the overall market sentiment, 39% indicated optimism or extreme optimism. While 38.0% felt neutral, 23% expressed feelings of fear or extreme fear. Respondents were also asked for their views on Ethereum’s (ETH) recent strong performance, often seen as a key indicator of an approaching altcoin season. Of those surveyed, 64.2% said they expect ETH to reach a new all-time high before next year, while 35.8% were more skeptical, saying they don’t believe it will happen this year.

Here is the list of tokens that were most searched for and mentioned in the South Korean crypto community (K-Community) of CoinNess between July 25 and 31. Top 10 searched tokens - XRP 84,260 - ETH 24,520 - ENA 23,175 - SOL 19,090 - ONDO 13,285 - DOGE 10,560 - SUI 9,560 - ADA 8,020 - BTC 7,560 - SHIB 6,365 Top 10 mentioned tokens - BTC 1,430 - ETH 1,389 - SOL 349 - XRP 321 - ENA 185 - TRUMP 149 - PENGU 109 - DOGE 106 - HBAR 87 - OP 80

CryptoQuant contributor Darkfost said on X that Bitcoin (BTC) continues to show strong demand despite recent price volatility. Over the past 30 days, around 160,000 BTC have been accumulated based on a metric comparing new issuance with long-term inactive supply. Darkfost explained that wallets that have only accumulated BTC without selling added nearly 50,000 BTC during the same period, reflecting steady buying and strong holding conviction. He also noted that the amount of BTC held by over-the-counter (OTC) desks has declined sharply from about 550,000 in September 2021 to 145,000 today, suggesting that long-term demand remains robust.

Yield Guild Games (YGG) announced on its official blog that it has allocated 50 million YGG tokens, worth about $7.5 million, to an on-chain ecosystem pool led by a newly formed proprietary guild. The initiative marks a shift from passive treasury holding to active management, with the goal of generating returns, improving sustainability and supporting YGG’s long-term ecosystem strategy.

An Ethereum (ETH) ICO whale that had been selling ETH for the past year has recently resumed accumulation, according to on-chain analyst @ai_9684xtpa on X. The address, which originally bought ETH at $0.31, acquired 13,600 ETH ($47 million) over the past three weeks, with the most recent withdrawal occurring about 15 minutes ago. The analyst noted that the last major accumulation by this address was two years ago, when 6,000 ETH were deposited to OKX Exchange, a volume significantly smaller than the current withdrawals. The shift may reflect concern over missing out if ETH prices rise further. The wallet currently holds 59,718 ETH ($210 million).