News & Research

Ark Invest, an asset management firm led by Cathie Wood, purchased $15.3 million in BitMine Immersion Technologies shares on July 29, one day after acquiring $20 million worth, The Block reported. The firm has accumulated $182 million in BitMine shares since last week, increasing its exposure to crypto-related equities following BitMine’s disclosure of more than $2 billion in Ethereum holdings. BitMine has also announced a $1 billion share buyback program.

Pump.fun, a Solana (SOL)-based platform for launching memecoins, has transferred 12,000 SOL worth $2.16 million to the address responsible for buying back PUMP, its native memecoin, according to on-chain analyst @EmberCN on X. This marks the continuation of its buyback program. On July 16, Pump.fun moved 187,770 SOL valued at $30.53 million from its fee wallet to fund the buyback. So far, 129,100 SOL totaling $21.5 million has been spent to purchase 3.828 billion PUMP at an average price of $0.0056.

A year after South Korea’s Virtual Asset User Protection Act took effect, the country’s top five crypto exchanges have set aside more than 260 billion won ($189.7 million) in reserve funds, local outlet MTN News reported. On July 30, lawmaker Huh Young of the ruling Democratic Party said that Upbit, Bithumb, Coinone, Korbit and Gopax had accumulated a combined 263.3 billion won in reserves as of the end of June. Bithumb led with 150.1 billion won ($108.1 million) in reserves and stored 90.6% of customer assets in cold wallets. Upbit allocated 4.2 billion won ($3 million) with 98.3% of assets held in cold storage. Coinone and Korbit secured 30 billion won ($21.6 million) and 16 billion won ($11.5 million), respectively. Gopax chose to cover liability through insurance instead of maintaining a reserve fund.

Over the past two weeks, the number of wallets holding more than 1,000 BTC has decreased by 1.61%. Meanwhile, the number of wallets holding more than 10,000 ETH has increased by 8%, according to Santiment on X.

Bloomberg exchange-traded fund (ETF) analyst Eric Balchunas outlined on X that the rising inflows into Ethereum ETFs are eating away at Bitcoin's market share. Bitcoin ETFs now account for 82% of total crypto ETF assets under management (AUM), down from 90% just two months ago. Ethereum has grown to 13% and continues to climb. However, Balchunas maintains his prediction that Ethereum will not surpass 20% because there will be more competitors as other crypto-related ETFs gain regulatory approval.

Decentralized perpetual futures exchange Hyperliquid (HYPE) is suspected of malfunctioning, with some users unable to place or close orders, Wu Blockchain reported on X. Official representatives said the issue is under investigation and updates will be shared promptly.

Ethereum’s validator exit queue surged to a record 744,000, up from fewer than 1,000 daily just two weeks ago, according to The Block. The spike was driven by Aave’s soaring wETH borrowing rates, which disrupted leveraged staking strategies and forced large holders to unwind positions. EigenLayer’s deposit cap reopening also contributed, as operators exited validators to restake ETH. The congestion is expected to ease as Aave rates normalize.

Norwegian crypto brokerage and research firm K33 Research said July’s corporate and ETF inflows of 115,165 BTC (net 35,165 BTC after Galaxy’s 80,000 BTC OTC sale) and 52% ETH gains underscore ongoing institutional interest. Perpetual futures open interest topped 300,000 BTC—its highest since late 2024—while neutral funding rates point to hedging activity. ETH ETF inflows hit 1.6 million ETH over six weeks and CME ETH open interest dominance climbed to 40%, signaling capital rotation from Bitcoin. K33 warned that this week’s White House crypto report, Aug. 1 tariff deadline, FOMC meeting and U.S. employment data could trigger heightened market volatility.

TRON saw multi-year highs in transactions, active users and revenue in 2025, driven by USDT dominance, DeFi growth and rising on-chain activity, solidifying its lead over Ethereum in stablecoin usage, according to CryptoQuant report on X.

A basic bug in digital art market SuperRare’s (RARE) staking contract allowed any address to change its Merkle root, leading to a $731,000 exploit, cybersecurity experts told Cointelegraph. 0xAw, lead developer at Base decentralized exchange Alien Base, noted that standard unit tests, or even ChatGPT, would have caught the error before deployment.