Key Takeaways
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Macro Environment: The positive effect of Fed rate-cut expectations quickly faded, with U.S. equities retreating collectively after just one day of rebound. Market focus has shifted back to U.S. corporate earnings outlook, as investors await Nvidia’s earnings report this week to ease concerns over the sustainability of AI spending.
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Crypto Market: Caution in U.S. equities spilled into the crypto market, with BTC falling for three consecutive days, including a 2.95% drop in a single session. ETH and other major altcoins followed suit, giving back nearly all gains from Powell’s remarks. Overall, altcoins’ market cap share declined 0.85% week-on-week.
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Outlook for Today:
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HUMA unlock: 23.38% of circulating supply, worth ~$10M
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WebX Japan Crypto Summit: Aug 25–26 in Tokyo
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Japanese Senator Satsuki Katayama: Japan is pushing to reclassify crypto assets to lower the maximum tax rate from 55% to 20%
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Main Asset Changes
| Index | Value | % Change |
| S&P 500 | 6,439.31 | -0.43% |
| NASDAQ | 21,449.29 | -0.22% |
| BTC | 110,112.80 | -2.95% |
| ETH | 4,376.94 | -8.44% |
Crypto Fear & Greed Index: 48 (vs. 47 a day earlier), Neutral
Project Highlights
Trending Tokens:
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LINK: Japan’s SBI Group partners with Chainlink to accelerate institutional adoption of digital assets globally.
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XRP: Gemini partners with Ripple to launch an XRP credit card.
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SOL: Galaxy, Jump, and Multicoin plan a $1B acquisition of Sol; Sharps Technology completed a $400M+ private round to establish an SOL treasury, signing an MoU with Solana Foundation to purchase $50M worth of SOL at a 15% discount to the 30-day average.
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AVAX: Grayscale has filed an Avalanche ETF S-1 application with the U.S. SEC.
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ENA: Mega Matrix announced the establishment of a treasury for stablecoin governance tokens centered on ENA.
Macro Economy
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U.S. President Trump: dismissed Federal Reserve Governor Cook
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Trump threatens tariffs on countries imposing digital taxes
Industry Highlights
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U.S. SEC in talks with Kraken on tokenization of traditional assets and regulatory frameworks
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Financial Times: U.S. banks lobbying to block stablecoins from paying interest to customers
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Japanese Prime Minister Shigeru Ishiba: aims to leverage Web3 for economic and social transformation
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Japan’s Finance Minister: will create a favorable environment for crypto assets
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Bitmine added over 190K ETH in the past week, bringing total holdings to 1.71M ETH
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U.S. SEC delays decisions on Canary Spot PENGU ETF and Grayscale Spot Cardano ETF applications
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Institutional investors’ Bitcoin ETF holdings reached $33.6B in Q2
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CFTC Acting Chair Caroline Pham to join MoonPay
This Week’s Outlook
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Aug 26: WebX Japan Crypto Summit (Tokyo); HUMA unlock (~$10M)
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Aug 27: Nvidia earnings; Hong Kong Blockchain Summit
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Aug 28: U.S. Q2 real GDP annualized revision; Bitcoin Asia opens at HKCEC with Eric Trump attending
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Aug 29: U.S. July Core PCE
Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise.
