Crypto Weekly Roundup: This week ended with a strong move in Ethereum, which hit $4,200, while Bitcoin dominance fell below 60%. Market sentiment was mixed, on one hand, large institutional buys and policy changes boosted optimism, but on the other, technical analysts warned about weak spot demand and possible volatility ahead.
Glassnode data showed 120,000 BTC were bought in the $112K–$114K range, but demand still needs to grow for these levels to hold.
Ethereum-related activity was particularly strong. SharpLink Gaming added 10,975 ETH (worth $42.79M), bringing its total holdings to over 532,000 ETH valued at $2.07B.
Fundamental Global announced plans to raise $5B to buy ETH for long-term treasury use. Institutions holding ETH were also valued higher than spot ETFs, according to Standard Chartered, signaling market confidence in treasury strategies.
Meanwhile, Sui Network saw stablecoin transfer volume surpass $1T, added 1.28M new accounts in 24 hours, and secured an institutional partnership with Sygnum Bank for custody, trading, staking, and secured loans.
Institutional Moves and Corporate Adoption
Crypto adoption took new forms this week. Union Jack Oil in the UK announced a pivot from oil to Bitcoin mining, converting isolated gas wells into mining sites and preparing a BTC treasury strategy. Casio USA entered the metaverse via The Sandbox, using G-SHOCK branding in an interactive experience.
In Asia, Animoca Brands partnered with Standard Chartered Bank and HKT to launch Anchorpoint Financial, aiming for a licensed stablecoin under Hong Kong’s new Stablecoins Ordinance. In Japan, SBI Holdings applied for both BTC and XRP ETFs.
On the DeFi side, Chainlink launched its “Chainlink Reserve,” a strategic pool funded by on-chain and off-chain revenues to lock LINK tokens and support long-term growth.
Tokenized stocks also gained momentum, up 220% in July, with Solana seeing $90M in tokenized stock trading during its first month.
Regulation and Policy
The US had a wave of crypto-friendly moves from US President Trump. He signed an executive order banning banks from cutting off services to crypto companies and individuals, framing it as protection against “financial discrimination.”
Another order allowed crypto in 401(k) retirement accounts, opening a $12.5T market to BTC and ETH as long-term investments.
Regulatory bodies also advanced crypto integration. The CFTC launched a framework for federally registered spot crypto trading, working jointly with the SEC under “Project Crypto.” The SEC clarified that liquid staking is not considered a security unless the underlying asset qualifies under the Howey Test, reducing uncertainty for DeFi protocols.
Globally, the Bank of England, the European Central Bank, and China all cut interest rates. The market now expects the US Federal Reserve to follow in September, with rate cut odds at 94.4%. Goldman Sachs projects three consecutive 25 bps cuts starting next month.
Geopolitics and Trade
The Russia–Ukraine conflict saw a possible shift as Moscow sent a ceasefire proposal to US officials, with Washington seeking Ukrainian and European approval. Trump claimed both Putin and Zelensky want to meet him, and Reuters reported a potential Trump–Putin meeting next week. Still, disagreements over annexed territories remain.
Trade tensions also escalated. In just 24 hours, Trump announced higher tariffs: 50% on India, 15% on Japan, 100% on semiconductors, and an upcoming 250% on pharmaceuticals. He also extended a potential 90-day delay for new tariffs on China, signaling a mix of pressure and negotiation.
Notable Market Trends & Insights
- Ethereum network transactions are nearing all-time highs thanks to stablecoin and Uniswap activity.
- More crypto salaries: 9.6% of crypto workers now get paid in digital assets, triple the rate in 2024.
- Multiple nations, including Indonesia and Brazil, are exploring Bitcoin reserves for economic stability.
- Peter Thiel reiterated his belief in Bitcoin as the most important asset he owns.
- A potential short squeeze looms: $18B in BTC shorts could be liquidated if BTC hits $125K.
- Vitalik Buterin warned that corporate ETH treasuries could become overly leveraged if mismanaged.
Ecosystem Activity and Rankings
- Sei Network led all EVM chains in weekly active wallets.
- Base outperformed Solana in daily token launches (54K vs. 25K) thanks to Zora and Farcaster integration, pushing ZORA token up over 1000% in July.
- Hyperliquid dominated blockchain fee revenue in July, capturing 35% of total network fees.
- James Howells, known for losing 8,000 BTC in a landfill, abandoned his search and started a DeFi project inspired by his story.
Closing Thoughts
This week showed the crypto market balancing between bullish institutional moves and cautious macroeconomic uncertainty. Ethereum’s rally, the surge in Sui activity, and the US policy shift toward a friendlier crypto environment all pointed toward growth. But geopolitical risks, trade tensions, and lingering questions about demand strength mean volatility isn’t going anywhere soon.
This article is for informational purposes only and is not financial advice. Please do your own research. You can also DYOR on blog.millionero.com. When ready, trade spot and perpetuals on Millionero, the simple, fast, and secure exchange for every market condition.