News & Research

CryptoQuant analyst Axel Adler Jr. said on X that he expects Bitcoin (BTC) to rally two more times before selling pressure surpasses demand and the market enters a correction phase. He explained that investor risk appetite tends to weaken in the final stages of a bull cycle. According to Adler, a key BTC metric that exceeded 1.9 in March and December 2024 is now forming a lower peak, indicating that more holders are selling and putting downward pressure on prices. He noted that although profit-taking continues, each price surge yields a smaller margin above investors’ cost basis. Adler added that the two expected interest rate cuts by the U.S. Federal Reserve this year further support his outlook.

In a recent update on X, crypto services provider Matrixport reported that Bitcoin (BTC) has dropped below the key $112,000 support level it maintained for several weeks, signaling increasing bearish sentiment. The firm cited typical August seasonality and renewed macroeconomic uncertainty following weaker U.S. labor data, drawing parallels to last year’s surprise Federal Reserve rate cut. With two cuts now priced in and the first likely in September, Matrixport expects continued pressure on risk assets until economic recovery becomes more evident.

Capital B, a publicly listed company in Europe, has raised around €11.5 million ($13.3 million) to increase its Bitcoin (BTC) holdings, according to NLNico (@btcNLNico) on X.

U.K.-based web development firm Smarter Web Company (SWC) announced it has raised £8.1 million ($10.75 million) through a placing and subscription of nearly 4 million new ordinary shares at £2.05 each. The company, which previously outlined its Bitcoin (BTC) investment strategy, plans to use the proceeds to acquire additional BTC. As of July 30, SWC held 2,050 BTC.

South Korean mobile financial platform Toss, developed by Viva Republica, is reportedly in talks with crypto exchange Bithumb to build a stablecoin-based payment system, according to MTN News. The initiative is expected to take a similar form to the KRW-pegged stablecoin collaboration currently being pursued by Naver Pay, the digital payment subsidiary of South Korean internet giant Naver, and Upbit, the country's largest cryptocurrency exchange operated by Dunamu.

Former U.K. Chancellor George Osborne warned that Britain is falling behind in global crypto innovation, comparing the sector’s transformative potential to the “Big Bang” financial reforms of the 1980s. In a Financial Times op-ed, Osborne criticized Chancellor Rachel Reeves and Bank of England Governor Andrew Bailey for slow action on crypto and stablecoin policy. He urged Reeves to establish a clear legal framework similar to that enacted by the U.S. Congress and argued that blaming regulators alone is insufficient. Osborne added that although the Treasury has expressed support for stablecoins, progress has been limited, and the Bank of England remains skeptical of allowing commercial banks to issue them.

Cardano’s core development team has been approved to receive 96 million ADA, Cardano’s native token, worth about $71 million from the treasury to support planned network upgrades, according to Cointelegraph. The proposal was submitted by Input Output Global (IOG), Cardano’s main developer, and passed with 74% approval. A total of 200 voted in favor, six opposed and seven abstained. Key projects related to the IOG proposal include Hydra, a protocol for fast and low-cost transactions, and Project Acropolis, a modular redesign of the Cardano node aimed at improving flexibility and onboarding new core developers.

Metaplanet, a publicly traded Japanese company known for its Bitcoin (BTC) investments, announced on X that it has acquired an additional 463 BTC, bringing its total holdings to 17,595 BTC.

Here is the breakdown of crypto perpetual futures liquidation over the last 24 hours. - ETH: $267.94 million, Long 88.76% - BTC: $164.38 million, Long 93.99% - SOL: $41.00 million, Long 90.01%

An anonymous smart money address is suspected to have sold 38,582 ETH ($138 million) over the past week, according to on-chain analyst @ai_9684xtpa on X. Since early this year, the address has withdrawn a total of 77,700 ETH ($202 million) from crypto exchange Kraken at an average cost of $2,600. If the recent sales are confirmed, the estimated profit would be approximately $36.57 million. The wallet currently holds 25,054 ETH, most of which is deposited in the crypto lending protocol Aave.