News & Research

Coinbase is establishing itself as a key lending source for crypto mining companies, Bloomberg reported. This transformation follows the collapse of previous industry lenders such as Celsius and BlockFi, positioning Coinbase to move beyond its core exchange and custody services. Mining firms including CleanSpark (CLSK), Riot Platforms (RIOT), and Hut 8 (HUT) are expanding their credit lines with the company. Brian Dobson, a managing director at New York-based fintech firm Clear Street, said that mining companies require significant capital for high-cost equipment, power needs, and a transition toward AI infrastructure. He added that Coinbase's expansion of its financial infrastructure is accelerating due to the pro-cryptocurrency regulatory environment of the Trump administration.

A total of 92 cryptocurrency ETF applications are currently pending review by the U.S. Securities and Exchange Commission (SEC), according to Bloomberg analyst James Seyffart. Among these, Solana (SOL) ETFs are the most numerous with 16 filings. They are followed by XRP with 15 applications, mixed-asset funds with nine, ETH with six, and BTC, DOGE, and LTC each with four.

The volume of ETH held in accumulation addresses, defined as wallets that acquire the asset for the long term without selling, has reached a new all-time high. According to CryptoQuant contributor Burak Kesmeci, this metric is a key indicator of long-term investor confidence in the market. Holdings in these addresses have surged threefold from 8.9 million ETH last May, prior to the spot ETF approval, to 24.3 million ETH as of this August. Kesmeci stated that this trend suggests institutional funds from ETFs are buying spot ETH and moving it into long-term storage. The pace of accumulation has accelerated sharply since June, with average daily inflows rising from a few thousand ETH to hundreds of thousands. Several days have seen inflows of over 500,000 ETH, which Kesmeci described as the beginning of an accumulation race driven by institutional demand. He also noted that the average purchase price for these addresses is around $2,500, placing most of them in significant profit. Historically, he added, long-term investors in such a position tend to support upward trends by holding their assets.

CoinMarketCap's Altcoin Season Index has reached 57, an 11-point increase from yesterday. The index is calculated by comparing the price performance of the top 100 cryptocurrencies by market capitalization—excluding stablecoins and wrapped coins—against Bitcoin's performance over the last 90 days. A period is considered an altcoin season when 75% of these top coins outperform Bitcoin during that timeframe, with a reading closer to 100 indicating a stronger trend.

The Crypto Fear & Greed Index rose two points from yesterday to 50, maintaining its neutral stance, according to data from Alternative. The index measures market sentiment on a scale of zero, indicating extreme fear, to 100, representing extreme optimism. It is calculated based on factors including volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

Bitcoin options with a notional value of $11.57 billion are set to expire at 8:00 a.m. UTC on Aug. 29, according to data from crypto options exchange Deribit. The contracts have a put/call ratio of 0.78 and a max pain price of $115,000. Additionally, Ethereum options worth $3.13 billion will expire at the same time, featuring a put/call ratio of 0.77 and a max pain price of $3,800.

Federal Reserve Governor Christopher Waller, who has been mentioned as a potential successor for the Fed chairmanship, described the recently enacted U.S. stablecoin regulation, the GENIUS Act, as a good starting point, according to media reports. He added that these issues will be addressed incrementally going forward.

Federal Reserve Governor Christopher Waller, who has been mentioned as a potential candidate for the next Fed Chair, stated that he had wanted an interest rate cut in July and that his conviction for one has since grown stronger. He believes a 0.25% rate cut is necessary in September and expects additional cuts over the next three to six months, according to Walter Bloomberg.

Nasdaq-listed Bitcoin miner Iren Limited, formerly known as Iris Energy, posted a net profit of $176.9 million for the second quarter on revenue of $187.3 million, The Block reported. The company projects its full-year revenue from Bitcoin mining will reach $1 billion.

Cryptocurrency ETP issuer 21Shares has filed an S-1 application to list a spot SEI ETF, BWE News reported.