Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is hovering near $110,000 and trading in a tight range, leaving traders questioning whether the bull has fallen asleep after delivering a 700% rally <a href="https://www.benzinga.com/money/bitcoin-price-prediction">from late 2022 lows</a>.



What Happened: Bitcoin surged from $15,000 in November 2022 to a record high around $124,500 earlier this year. 



But momentum now appears to be fading. 



Crypto analyst Ali Martinez <a href="https://x.com/ali_charts/status/1961368217420464411">noted</a> Bitcoin's dominance is starting to crack, mirroring conditions seen ahead of the 2021 peak.



Martinez flagged multiple warning signs, including an RSI bearish divergence, a MACD crossover, and a possible breakdown if BTC loses $108,700 support. 



On-chain signals add to the bearish case: the MVRV Momentum indicator has flipped negative for the first time in this cycle, marking what Martinez described as a potential macro momentum reversal.



Key downside levels include $108,700, $104,500, $97,000, and, if selling deepens, $60,000. 



While all the evidence suggests, the "top maybe in for Bitcoin," the bullish case requires validations. 



For bulls to remain in control, Martinez said Bitcoin must hold $108,700 and see the MVRV recover with a golden cross. 



Absent those signals, the risk of a broader correction increase.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47409835/bitcoin-ethereum-xrp-dogecoin-decline-again-and-clocked-out-early">Bitcoin, Ethereum, XRP, Dogecoin Decline Again And &#8216;Clocked Out Early&#8217;</a>



Why It Matters: Martinez also highlighted that Bitcoin supply in profit is showing early signs of a downtrend, reinforcing the view that the top may already be in.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Supply in Profit signals a possible shift into a downtrend phase! <a href="https://t.co/ksQos1xUfd">pic.twitter.com/ksQos1xUfd</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1960952489337086233?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



In an X post on Aug 28, he <a href="https://x.com/ali_charts/status/1960839757522722912">pointed</a> to a "death cross" in the MVRV Momentum indicator as evidence of a shift from positive to negative macro momentum.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47407236/raoul-pal-says-crypto-market-is-ready-for-launch-after-waiting-in-the-room-but-asks-for-patience">Raoul Pal Says Crypto Market Is &#8216;Ready For Launch&#8217; After &#8216;Waiting In The Room,&#8217; But Asks For Patience</a></li>
</ul>



Image: Shutterstock

Bitcoin Bull Market 'Falls Asleep' After 700% Run, Analyst Warns

Cryptocurrency markets are trading lower early Friday morning ahead of the release of new inflation data.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$110,055.40</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$4,340.84</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$208.32</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.87</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.2153</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001223</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 127,390 traders were liquidated in the past 24 hours for $413.27 million. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>



<li>SoSoValue data shows net inflows of $178.9 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ET'Fs saw net inflows of $39.2 million. </li>
</ul>



Trader Notes: As Bitcoin broke below $110,000, More Crypto Online <a href="https://x.com/Morecryptoonl/status/1961375810624856085">remarked</a> that it seemed to have "clocked out early" and entered weekend mode. 



Crypto Caesar noted BTC's struggle to reclaim the $112,000 zone, suggesting the coin is only trying to convince traders the cycle is over. He is watching two key levels: $100,855 and $116,347.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> &#8211; <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> failed to regain the 112K zone with full conviction. I'm watching these two zones. They want you to think this cycle is over. <a href="https://t.co/6DmoixRGsK">pic.twitter.com/6DmoixRGsK</a>&mdash; Crypto Caesar (@CryptoCaesarTA) <a href="https://twitter.com/CryptoCaesarTA/status/1961358923476472087?ref_src=twsrc%5Etfw">August 29, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Michael van de Poppe expects Ethereum to dip below its daily 20-EMA as markets stay shaky, but views this as a setup for a potential Q4 altcoin rally.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I think that we&#39;ll see a drop beneath the 20-EMA on the daily for <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. The markets are looking shaky, and if that happens, we&#39;ll have some downwards momentum for a little while. This will be the ideal setup for Q4, the <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> run. <a href="https://t.co/JBQQul7mun">pic.twitter.com/JBQQul7mun</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1961379048250388750?ref_src=twsrc%5Etfw">August 29, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Bluntz Capital is <a href="https://x.com/Bluntz_Capital/status/1961222182232850533">mapping</a> Solana's bullish structure, projecting a push above $500 in Q1 2026.



Crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1961321978310140033">highlighted</a> that XRP is retracing as expected toward the $2.83 level.



Trader Tardigrade noted the coin has entered the final stage of cycle III after crossing $0.21.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24Doge&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Doge</a>/3-month<a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> has reached the final stage of cycle III &#x1f525; <a href="https://t.co/P66bOK43X8">pic.twitter.com/P66bOK43X8</a>&mdash; Trader Tardigrade (@TATrader_Alan) <a href="https://twitter.com/TATrader_Alan/status/1961353907705450519?ref_src=twsrc%5Etfw">August 29, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47340927/bitcoin-will-correct-further-in-september-analyst-maintains">Bitcoin Will Correct Further In September, Analyst Maintains</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Decline Again And 'Clocked Out Early'

Eric Trump, son of U.S. President Donald Trump, told a packed audience at the Bitcoin Asia conference in Hong Kong that <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47394536/bitcoin-undervalued-compared-to-gold-fair-value-at-126000-jpmorgan">global adoption of Bitcoin</a> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is accelerating across governments, corporations and powerful families.



What Happened: "You've got nation states that are buying the hell out of Bitcoin. You've got Fortune 500 companies that are buying the hell out of Bitcoin," Trump <a href="https://x.com/milkroaddaily/status/1961382548531282289?s=46">said </a>during a fireside chat with event organizer David Bailey. 



"You've got the biggest families, you've got the biggest companies on earth that believe in this digital store of value. Everybody wants Bitcoin. Everybody is buying Bitcoin."



He added that this conviction underpins his prediction that Bitcoin will eventually reach $1 million. 



"I've always said that I really believe in the next several years Bitcoin hits a million dollars. There's no question Bitcoin hits a million dollars," Trump told the crowd.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388921/bitcoin-and-ethereums-liquidity-driven-highs-expose-fragility-at-all-time-peaks-report">Bitcoin And Ethereum&#8217;s Liquidity-Driven Highs Expose Fragility At All-Time Peaks: Report</a>



Why It Matters: Trump described how conversations in Asia reinforce the early stage of adoption.



"I had breakfast this morning with a couple of the most powerful people in the region, in the hospitality space, and you're literally sitting there trying to explain to them what digital currency is," he said. "You realize how early we all are to this race, and how big of a benefit that is."



Responding to common concerns that it may be too late to enter the market, Trump was emphatic. 



"I hear from people all the time, should I get into cryptocurrency? Did I miss it? Am I too late? And I literally start laughing at them," he said. "We haven't even scratched the surface of what Bitcoin is going to be. We haven't even scratched the surface of what digital assets are going to be."



He concluded with advice for long-term holders: "This is the time to buy. Volatility is your friend. Buy right now. Shut your eyes. Hold it for the next five years."



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388443/chainlink-to-deliver-us-commerce-department-economic-data-on-chain-for-smart-contract-use">Chainlink To Deliver US Commerce Department Economic Data On-Chain For Smart Contract Use</a></li>
</ul>



Image: Shutterstock

Eric Trump Says 'There Is No Question' Bitcoin Will Hit $1 Million

Macro analyst&nbsp;Raoul Pal&nbsp;said Thursday that many parts of the cryptocurrency market are in a consolidation or &#8220;waiting room&#8221; phase, but are showing signs of breakouts.



<h2 class="wp-block-heading">Crypto Ready To Launch?</h2>



In an X thread, Pal, founder of research publication Global Macro Investor, said that the total cryptocurrency market. excluding Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), is &#8220;ready to launch&#8221; from the waiting room.



Pal showed what appeared to be an Ascending Triangle pattern, which is a consolidation pattern indicating strong buying demand.



In the subsequent post, he focused on altcoins outside the top 10 biggest cryptos by market capitalization, saying that they are also in the waiting room, but will take &#8220;longer to launch.&#8221;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let&#39;s talk about the Crypto Waiting Room&#8230; many key part of the crypto ecosystem are in the waiting room ready to launch. Let&#39;s look at a few (you will have yours too&#8230;) Total3 &#8211; Ex- BTC and ETH&#8230;ready to launch from the waiting room. 1/ &#8230; <a href="https://t.co/z96CJXtcJl">pic.twitter.com/z96CJXtcJl</a>&mdash; Raoul Pal (@RaoulGMI) <a href="https://twitter.com/RaoulGMI/status/1961230439106187409?ref_src=twsrc%5Etfw">August 29, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



As for ETH, Pal noted a &#8220;full port,&#8221; suggesting an imminent upside, to be followed by Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).



<h2 class="wp-block-heading">Global Money Supply Is The Key</h2>



&#8220;People need to learn patience. The path is clear&#8230;but never, ever expect tick-for-tick perfection. It&#8217;s the pattern that counts,&#8221; he emphasized.



He further noted that the rate of change&nbsp;in <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46238410/bitcoin-gets-bigger-the-more-money-central-banks-print-says-popular-crypto-analyst-its-a-beautiful-thing">&#8220;Total Global Liquidity&#8221;</a> is set to increase, with the U.S., EU, China, and Japan needing to roll over debts. He described this as an &#8220;absurdly bullish backdrop&#8221; for cryptocurrencies.



See Also:&nbsp;<a href="https://www.benzinga.com/crypto/25/08/47406495/kevin-oleary-says-gen-zs-invest-in-bitcoin-ethereum-alongside-stocks-a-chance-he-never-had-early-in-his-investment-journey">Kevin O&#8217;Leary Says Gen Zs Invest in Bitcoin, Ethereum Alongside Stocks, A Chance He Never Had Early in His Investment Journey</a>



<h2 class="wp-block-heading">Will Pal&#8217;s $100 Trillion Prediction Come True?</h2>



Pal&#8217;s forecasts follow his previous prediction about the &#8220;insane&#8221; demand for the blockchain space. He had projected that cryptocurrency <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46360502/raoul-pal-says-no-one-realizes-insane-incoming-demand-for-blockspace-predicts-crypto-will-become-100-trillion-asset-within-a-decade-as-bitcoin-smashes-118000">would become a $100 trillion asset class over the next 6-8 years</a>. 



In May, he suggested that crypto was entering&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45495547/bitcoin-pulls-back-but-raoul-pal-says-were-entering-phase-2-of-the-banana-zone" target="_blank" rel="noreferrer noopener">"Phase 2 of the Banana Zone,"</a>&nbsp;a period where liquidity increases and prices accelerate after initial consolidation. This phase, according to Pal, represents the last leg of&nbsp;Bitcoin's bull run.



Price Action: At the time of writing, BTC was exchanging hands at $109,637, down 3.21% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47376707/bitcoin-a-currency-or-an-asset-jack-dorsey-picks-a-side">Bitcoin A Currency Or An Asset? Jack Dorsey Picks A Side</a></li>
</ul>



Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>



Photo courtesy: Volodymyr Maksymchuk on Shutterstock.com

Raoul Pal Says Crypto Market Is 'Ready For Launch' After 'Waiting In The Room,' But Asks For Patience

Influential investor Kevin O&#8217;Leary shared his observations on Gen Zs investment habits on Thursday, highlighting their interest in cryptocurrencies alongside traditional stocks.



<h2 class="wp-block-heading">Gen Zs Have It Easy, Says &#8216;Mr. Wonderful&#8217;</h2>



O'Leary took to X, sharing a clip from his recent interview with Fox Business, where he noted how the younger generation is now purchasing Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) on platforms such as&nbsp;Robinhood, along with stocks, a trend not seen when he began investing.



&#8220;And they just look at, you know, these other investment opportunities as, as having the same merit that a stock does, or a bond,&#8221; O'Leary, nicknamed "Mr Wonderful," said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Gen Z are now buying Ethereum and Bitcoin right beside a stock in a platform like Robinhood, which we never had when we started investing. And they just look at, you know, these other investment opportunities as, as having the same merit that a stock does, or a bond. And the… <a href="https://t.co/TBFunlCBoR">pic.twitter.com/TBFunlCBoR</a>&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1961218968095461549?ref_src=twsrc%5Etfw">August 29, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He also mentioned the emergence of AI-driven investment apps that simplify the investment process for novices, specifically mentioning Beanstox, which <a href="https://www.benzinga.com/fintech/21/08/22378627/beanstox-will-automate-your-investments-and-even-let-you-invest-in-the-company-itself">he co-founded</a>.



O&#8217;Leary recalled an incident in which a young man who had sold him a watch&nbsp;asked for payment in stablecoins.



See Also:&nbsp;<a href="https://www.benzinga.com/news/restaurants/25/08/47377325/kevin-oleary-says-cracker-barrel-got-bud-lighted-extremely-lucky-as-the-free-press-was-outstanding">Kevin O&#8217;Leary Says Cracker Barrel Got &#8216;Bud Lighted&#8217;: Extremely Lucky As &#8216;The Free Press Was Outstanding&#8217;</a>



<h2 class="wp-block-heading">Zoomers More Receptive Toward Crypto?</h2>



Notably, 75% of Gen Z stablecoin users said in a recent survey that they <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/46901218/would-you-take-your-salary-in-crypto-75-of-gen-z-say-yes">would prefer to receive their salary in stablecoins</a>, emerging as the most committed demographic. The survey also revealed that nearly half of Gen Z users make monthly stablecoin transactions, outpacing both Millennials and Gen X.



A February report on U.S. investment trends said that <a href="https://www.benzinga.com/personal-finance/financial-advisors/25/04/44779772/gen-z-and-crypto-how-younger-generations-are-weighing-risk-in-investing">Gen Z is more likely than any other demographic</a> to invest in cryptocurrencies in 2025, even though they&#8217;re aware of the risks.



<h2 class="wp-block-heading">O&#8217;Leary&#8217;s Crypto Bets</h2>



O'Leary has been a vocal advocate of cryptocurrency over the years. Earlier this month, he expressed&nbsp;<a href="https://www.benzinga.com/personal-finance/management/25/08/47055578/the-only-thing-that-charlie-munger-got-wrong-was-this-says-kevin-oleary-but-credits-warren-buffet-ally-for-shaping-his-investing-style" target="_blank" rel="noreferrer noopener">disagreement</a>&nbsp;with the late&nbsp;Charlie Munger's&nbsp;views on cryptocurrency, describing it as "the only thing" that the legendary investor got wrong.



He has revealed investments in cryptocurrency infrastructure companies such as Circle Internet Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRCL#NYSE">CRCL</a>), cryptocurrency exchange Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and tokenized stock provider Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)



Visit&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>&nbsp;and discover how these stocks on Wall Street&nbsp;score across&nbsp;5 vital metrics of Momentum, Value, Growth, Quality and Trends. 



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1018" height="203" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/29031606/image-549.png" alt="" class="wp-image-1049086" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/29031606/image-549.png 1018w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/29031606/image-549-300x60.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/29031606/image-549-768x153.png 768w" sizes="(max-width: 1018px) 100vw, 1018px" /></figure>



Photo Courtesy: Kathy Hutchins on Shutterstock.com



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://benzinga.com/markets/cryptocurrency/22/11/29640123/just-in-crypto-com-suspends-these-withdrawals-deposits-on-solana-chain" target="_blank" rel="noreferrer noopener">D</a><a href="https://www.benzinga.com/personal-finance/management/25/08/47386705/do-you-want-kevin-oleary-to-invest-in-your-business-check-these-three-boxes">o You Want Kevin O&#8217;Leary To Invest In Your Business? Check These Three Boxes</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Kevin O'Leary Says Gen Zs Invest in Bitcoin, Ethereum Alongside Stocks, A Chance He Never Had Early in His Investment Journey

Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) outperformed cryptocurrencies with a larger market capitalization on Thursday, following millions in purchases by treasury company DeFi Development Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DFDV#NASDAQ">DFDV</a>).



DFDV is moving ahead with momentum. <a href="https://www.benzinga.com/quote/DFDV">See what is driving the move here.</a>



<h2 class="wp-block-heading">Solana Breaks Key Resistance</h2>



SOL was up nearly 4%, gaining the most among large-cap cryptocurrencies in the last 24 <a href="http://hours.in">hours.</a> In contrast, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) fell 0.13% and 0.91%, respectively.



The sixth-largest cryptocurrency by capitalization broke past its price resistance from February to a high of $216.&nbsp;



The rally energized the derivatives market, with open interest in SOL futures jumping 10% to an all-time high of $13.96 billion, <a href="https://www.coinglass.com/BitcoinOpenInterest">according</a> to Coinglass.



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/trading-ideas/movers/25/08/47367265/sharps-technology-soars-after-insider-buys-and-400m-solana-treasury-plan">Sharps Technology Soars After Insider Buys and $400M Solana Treasury Plan</a>



<h2 class="wp-block-heading">New All-Time High Next?</h2>



Widely followed cryptocurrency analyst and trader Ali Martinez highlighted the coin's breakout from an <a href="https://www.benzinga.com/money/trading-ascending-triangle-pattern">Ascending Triangle pattern</a>, projecting a target of $300, above its all-time highs.&nbsp;



The Ascending Triangle pattern is a bullish continuation pattern characterized by a horizontal resistance level and a rising trendline.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Solana <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> breaks out of a triangle, targeting $300! <a href="https://t.co/B8oJTPKdNm">pic.twitter.com/B8oJTPKdNm</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1961186529537098216?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



.



<h2 class="wp-block-heading">Solana Replicates Bitcoin, Ethereum Treasury Play </h2>



The jump comes after DeFi Development bought 407,247 SOL, valued at $77 million, boosting its total SOL holdings to 1,831,011 SOL, worth over $394 million at the current price, according to a press release.



The purchases were funded using capital raised from a recent equity offering, with more than $40 million in net proceeds still available for future Solana purchases, the company said.



Public companies have begun piling into SOL for their corporate treasuries, collectively holding about 8.69 million SOL, worth $1.87 billion, <a href="https://www.strategicsolanareserve.org/">according </a>to Strategic SOL Reserve.&nbsp;



Sharps Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>) was the largest SOL holder as of this writing, followed by Upexi Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPXI#NASDAQ">UPXI</a>) and DeFi Development.



Price Action: At the time of writing, SOL was exchanging hands at $215.29, up 3.93% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.



DeFi Development shares rose 0.36% in after-hours trading after closing 7.93% higher at $16.47 during Thursday&#8217;s regular trading session. &nbsp;



As of this writing, the stock demonstrated a very low Value score. Visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge Stock Rankings</a> to compare its metrics with Sharps Technology and Upexi. 



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="441" height="196" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/29002213/image-542.png" alt="" class="wp-image-1048882" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/29002213/image-542.png 441w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/29002213/image-542-300x133.png 300w" sizes="(max-width: 441px) 100vw, 441px" /></figure>



Photo Courtesy: alfernec on Shutterstock.com



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/08/47360423/solanas-underperformance-this-year-vs-ethereum-offers-a-buying-opportunity">Solana&#8217;s Underperformance This Year Vs. Ethereum Offers A Buying Opportunity</a></li>
</ul>

Solana Outgains Bitcoin, Ethereum After DeFi Development Bags $77 Million In SOL For Corporate Reserves

Cryptocurrency supporters hailed on Thursday the U.S. government's move to post GDP numbers on several blockchain platforms.



<h2 class="wp-block-heading">Senior Lawmaker Calls Move Historic</h2>



Sen. Cynthia Lummis (R-Wyo.) deemed the Commerce Department's move as "historic" that will ensure America's leadership in "digital innovation and transparency."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Publishing our GDP data on blockchain is a historic move that will ensure America is the global leader in digital innovation and transparency. Thank you <a href="https://twitter.com/POTUS?ref_src=twsrc%5Etfw">@POTUS</a> <a href="https://twitter.com/howardlutnick?ref_src=twsrc%5Etfw">@howardlutnick</a> for your leadership &#x1f1fa;&#x1f1f8; <a href="https://t.co/nRb6jVuMPC">https://t.co/nRb6jVuMPC</a>&mdash; Senator Cynthia Lummis (@SenLummis) <a href="https://twitter.com/SenLummis/status/1961118510752424127?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Coinbase CEO Brian Armstrong also praised the decision to bring America on-chain and thanked Commerce Secretary Howard Lutnick for his leadership.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Historic moment with government data now coming onchain, thanks to <a href="https://twitter.com/howardlutnick?ref_src=twsrc%5Etfw">@howardlutnick</a>'s leadership. Useful in smart contracts and oracles. Coinbase is proud to support <a href="https://twitter.com/CommerceGov?ref_src=twsrc%5Etfw">@CommerceGov</a> in bringing America onchain, including on <a href="https://twitter.com/base?ref_src=twsrc%5Etfw">@base</a>! <a href="https://t.co/Fxu71mo3UW">https://t.co/Fxu71mo3UW</a>&mdash; Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1961123871043788965?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47383531/ethereum-is-the-wall-street-token-jan-van-eck-says">Ethereum Is &#8216;The Wall Street Token&#8217;, Jan van Eck Says</a>



Tyler Winklevoss, CEO of cryptocurrency exchange Gemini, said the move brings "innovation, vision and execution to the government and helps realize President Donald Trump's vision of making the U.S. the world's "cryptocurrency capital."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">America is now publishing GDP to the blockchain. This helps realize President Trump&#39;s vision of making America the crypto capital of the world. Thank you <a href="https://twitter.com/howardlutnick?ref_src=twsrc%5Etfw">@howardlutnick</a> and <a href="https://twitter.com/CommerceGov?ref_src=twsrc%5Etfw">@CommerceGov</a> for doing the impossible — bringing innovation, vision, and execution to the US government.… <a href="https://t.co/PvikSRprY0">https://t.co/PvikSRprY0</a>&mdash; Tyler Winklevoss (@tyler) <a href="https://twitter.com/tyler/status/1961131096432632100?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Notably, both Coinbase and Gemini helped the government in publishing the data on-chain, according to the Commerce Department.



<h2 class="wp-block-heading">Official US Economic Data On These Blockchains</h2>



The Commerce Department announced that it published the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388443/chainlink-to-deliver-us-commerce-department-economic-data-on-chain-for-smart-contract-use">second-quarter GDP results on nine blockchains</a>, including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), marking the first time a federal agency put official macroeconomic data on blockchain rails.



The data was also disseminated through coordination with Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) and Pyth Network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PYTH</a>), the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47113154/analyst-calls-chainlink-this-cycles-most-obvious-large-cap-crypto-jackpot-compares-it-to-aws-microsoft-azure-google-cloud">oracle networks </a>that help bring real-world, off-chain data to smart contracts.



Over time, the government is expected to post data such as the <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388443/chainlink-to-deliver-us-commerce-department-economic-data-on-chain-for-smart-contract-use">Personal Consumption Expenditures Price Index</a> and Real Final Sales to Private Domestic Purchasers on-chain, Chainlink said.



<h2 class="wp-block-heading">The Debate Around Immutability</h2>



&#8220;We are making America's economic truth immutable and globally accessible like never before,&#8221; Lutnick said. 



While blockchain data is designed to be immutable, i.e, cannot be edited or deleted, some networks have reversed transactions to recover hacked funds. The most notable incident that comes to mind is Ethereum&#8217;s &nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/02/25746078/this-austrian-programmer-was-behind-the-2016-dao-hack-that-defined-ethereums-history-says-" target="_blank" rel="noreferrer noopener">Decentralized Autonomous Organization hack</a>&nbsp;in 2016.



Price Action: At the time of writing, the PYTH token was exchanging hands at $0.2218, up 90% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. LINK token traded up 1.5% to $24.20 at last check.



Photo Courtesy: janews on Shutterstock.com



Read Next:&nbsp;



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47386176/fundstrats-tom-lee-says-ethereum-has-50-chance-of-flipping-bitcoin">Fundstrat&#8217;s Tom Lee Says Ethereum Has &#8216;50% Chance&#8217; Of Flipping Bitcoin</a></li>
</ul>

Cynthia Lummis Says Publishing US GDP Data On Blockchain Is A 'Historic Move' — Thanks Trump, Lutnick For Leadership

Bitcoin consolidated on Thursday, while major altcoins fell, despite the U.S. economy posting stronger-than-expected results in the second quarter.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:20 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.19%</td><td>$111,770.58</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-1.26%</td><td>$4,453.39</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.98%</td><td>$2.94</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.23%</td><td>$213.18</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.14%</td><td>$0.2200</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Bitcoin&#8217;s Dominance Narrows Further</h2>



Bitcoin continued to move sideways, while Ethereum dropped below $4,500, losing more than 10% since hitting a record high earlier this week. XRP and Dogecoin also traded lower.



Meanwhile, Ethereum's market dominance rose to 13.9%, while Bitcoin's share dropped further to 57.5%.



In a major development, the U.S. government put <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388443/chainlink-to-deliver-us-commerce-department-economic-data-on-chain-for-smart-contract-use">GDP numbers on blockchain for the first time</a>, aligning with the broader push to make the country the "crypto capital of the world."



Over $250 million was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for over 60%.



Bitcoin's open interest rose 0.30% alongside its spot price. Additionally, top Binance traders i.e, top 20% users with the highest margin balance, reduced their long exposure to&nbsp; Bitcoin in the last 24 hours.



The market sentiment remained "Neutral" as of this writing, according to the Crypto Fear &amp; Greed Index.



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:20 p.m. ET)</th></tr></thead><tbody><tr><td>Pyth Network (PYTH)&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+105.42%</td><td>$0.237</td></tr><tr><td>Pump.fun (PUMP)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+16.37%</td><td>$0.00347</td></tr><tr><td>Conflux (CFX)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+9.68%</td><td>$0.1882 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.86 trillion, up slightly by 0.08% in the last 24 hours.



<h2 class="wp-block-heading">Stocks Notch Record Highs</h2>



The S&amp;P 500 climbed to new highs Thursday, closing up 0.32% at 6,501.86. Similarly, the Dow Jones Industrial Average rose 71.67 points, or 0.16%, to a closing record of 45,636.90. The tech-heavy Nasdaq Composite rallied 0.53% to finish at 21,705.16.



The spike comes after the U.S. GDP grew 3.3% in the second quarter, above the<a href="https://www.benzinga.com/markets/economic-data/25/08/47384643/us-economy-gdp-q2-performance-tariffs-trade-balance"> initial estimate of 3.1% and reversing the 0.5% contraction</a> in the previous quarter. That makes it the strongest quarterly expansion since the third quarter of 2023.



Investors will likely turn their attention on Friday to the personal consumption expenditures price index report, considered the Federal Reserve's preferred inflation gauge, for signals on rate cuts.



<h2 class="wp-block-heading">Is Ethereum&#8217;s Breakout Confirmed?</h2>



Blockchain analytics firm CryptoQuant noted that the percentage of Bitcoin's supply in profit has reached the "historically critical threshold" of 90%.



"Bull phases are often accompanied by more than 90% of supply being in profit. Conversely, dropping back below this 90% threshold has very often marked the beginning of a corrective phase, whether short or long term," CryptoQuant stated.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BTC Supply in Profit Has Just Reached a Historically Critical Threshold "Dropping back below this 90% threshold has very often marked the beginning of a corrective phase, whether short or long term… We have now just reached this critical 90% level." – By <a href="https://twitter.com/Darkfost_Coc?ref_src=twsrc%5Etfw">@Darkfost_Coc</a> <a href="https://t.co/4YZd78a6Ei">pic.twitter.com/4YZd78a6Ei</a>&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1961022381650022689?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Widely followed cryptocurrency analyst and trader Daan Crypto Trades weighed in on Ethereum's trajectory after the coin's rejection from its 2021 highs.



"Keep an eye out for weekly closes above the previous all time high [$4,891.70] for confirmation of a real breakout," the analyst said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> Swept its 2021 all time high and has rejected. But all time high breaks are generally pretty messy with a lot of shakeouts. Fact is, a lot of people try to position themselves for that break and price discovery phase. This only ends up in price flushing out those late… <a href="https://t.co/YxwhEeWMD4">pic.twitter.com/YxwhEeWMD4</a>&mdash; Daan Crypto Trades (@DaanCrypto) <a href="https://twitter.com/DaanCrypto/status/1961079516761084155?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Yalcin Sonat On Shutterstock.com



Read Next:&nbsp;&nbsp;&nbsp;&nbsp;



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47394021/is-the-trump-linked-world-liberty-financial-wlfi-token-a-good-buy">Is The Trump-Linked World Liberty Financial WLFI Token A Good Buy?</a></li>
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Bitcoin Flat As US GDP Rebounds In Q2; Ethereum, XRP, Dogecoin Slide: Analyst Says 'Keep An Eye Out' For This ETH Level To Confirm 'Real Breakout'

Cryptocurrency exchange Bitget on Thursday recorded an average of $750 billion in monthly trading volume during the first half of 2025, with derivatives making up close to 90% of activity, according <a href="https://www.coindesk.com/research/bitget-market-deep-dive">to </a>CoinDesk research.



CoinDesk <a href="https://www.coindesk.com/research/bitget-market-deep-dive">reported</a> the exchange retained a top-four global position in derivatives markets, averaging a 12.4% market share and peaking at 15.1% in late 2024.



Since November 2023, cumulative derivatives volumes have reached $11.5 trillion.



Spot activity is also expanding, driven by the April launch of Bitget's Onchain platform. 



Monthly spot volumes climbed 32% to $102.8 billion in May, lifting the exchange's market share to 5.2%. 



Bitget's native token (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BGB</a>) emerged as the third-most traded asset on the platform, following Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), which together made up 44% of spot trading.



Liquidity metrics further underlined Bitget's position. 



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47394536/bitcoin-undervalued-compared-to-gold-fair-value-at-126000-jpmorgan">Bitcoin Undervalued Compared To Gold, Fair Value At $126,000: JPMorgan</a>



Between April and June, the exchange ranked first for Ethereum and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) aggregated spot depth within 1% of the mid-price, and second for Bitcoin, outperforming several global competitors.



Institutional execution quality was also high, with BTC-USDT spot slippage averaging just 0.0074% on $100,000 trades.



Institutions are becoming a defining force for Bitget. 



In the first half of 2025, institutional investors accounted for 80% of spot activity and half of derivatives trading. 



Assets under management on the platform have doubled since January, supported by new programs including liquidity incentives, institutional lending, and a unified margin system scheduled to roll out in third quarter.



The exchange's latest performance underscores how institutional participation and liquidity depth are reinforcing Bitget's standing in both spot and derivatives markets.



Read Next: • <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388921/bitcoin-and-ethereums-liquidity-driven-highs-expose-fragility-at-all-time-peaks-report">Bitcoin And Ethereum&#8217;s Liquidity-Driven Highs Expose Fragility At All-Time Peaks: Report</a>



Photo: Mehaniq via Shutterstock

Bitget Posts $750B Monthly Volume In First Half 2025 As Institutional Trading Surges

Webull Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BULL#NASDAQ">BULL</a>) reported second-quarter financial results <a href="https://www.benzinga.com/earnings">after market close Thursday.</a>



Here are the key highlights.



What Happened: Webull reported second-quarter revenue of $131.5 million, up 46% year-over-year. The revenue was an improvement from the first quarter total of $117.4 million, according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0828">from Benzinga Pro.</a>



Trading-related revenue was up 63% year-over-year in the quarter. Options contracts volume was up 8% year-over-year to $127 million. Equity notional volume was up 58% year-over-year to $161 billion.



The company reported earnings per share of 5 cents for the second quarter, an improvement from a loss of 6 cents per share in the first quarter.



Customer assets reached an all-time high in the quarter, up 64% year-over-year to $15.9 billion.



The company said it ended the quarter with 4.73 million funded accounts, up 9% year-over-year. Total registered users hit 24.9 million in the quarter, up 18% year-over-year.



"We delivered strong business results in our first quarter as a public company, with three consecutive quarters of operating profitability and customer assets at an all-time high, underpinned by substantial growth in trading volumes and net deposits," Webull US CEO Anthony Denier said.



Denier said the environment for retail trading was the best since the COVID-19 pandemic.



Webull Chief Financial Officer H.C. Wang said the company is one of the beneficiaries of growing demand for retail trading tools and platforms.



Read Also: <a href="https://www.benzinga.com/trading-ideas/previews/25/08/47368595/webull-q2-earnings-preview-can-crypto-relaunch-help-boost-shares">Webull Q2 Earnings Preview: Can Crypto Relaunch Help Boost Shares?</a>



What's Next: The company highlighted the relaunch of its crypto trading in Brazil in June.



In August, the company relaunched its cryptocurrency trading in the United States, allowing users to trade cryptocurrencies on the same platform as they trade stocks and options.



"Webull is more focused than ever on delivering new products to our sophisticated retail trading cohort, as demonstrated by our recent re-launching of crypto and our ongoing global expansion," Denier said.



BULL Price Action: Webull stock is up 1.5% to $14.89 in after-hours trading Thursday versus a 52-week trading range of $10.18 to $79.56.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/07/46526778/webull-stock-slides-on-1-billion-equity-financing-deal-and-dilution-concerns" target="_blank" rel="noreferrer noopener">Webull Stock Slides On $1 Billion Equity Financing Deal And Dilution Concerns</a></li>
</ul>



Photo: gguy/Shutterstock

Webull Q2 Earnings Highlights: Trading Revenue Up 63%, Customer Assets Hit All-Time High

Cryptocurrency markets are trading sideways ahead of fresh inflation data on Friday.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$112,688.81</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$4,490.69</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$211.53</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.98</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.2227</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001256</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 99,861 traders were liquidated in the past 24 hours for $295.92 million. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>



<li>SoSoValue data shows net inflows of $81.3 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ET'Fs saw net inflows of $309.5 million.   </li>



<li>In the past 24 hours, top gainers include Pyth Network (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PYTH</a>), Cronos (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">CRO</a>) and Conflux (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/cfx/usd">CFX</a>).</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388921/bitcoin-and-ethereums-liquidity-driven-highs-expose-fragility-at-all-time-peaks-report">Bitcoin And Ethereum&#8217;s Liquidity-Driven Highs Expose Fragility At All-Time Peaks: Report</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47386176/fundstrats-tom-lee-says-ethereum-has-50-chance-of-flipping-bitcoin">Fundstrat&#8217;s Tom Lee Says Ethereum Has &#8216;50% Chance&#8217; Of Flipping Bitcoin</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47387496/openservs-braid-framework-surpasses-gpt-models-targets-enterprise-use-with-auditable-ai-reasoning">OpenServ&#8217;s BRAID Framework Surpasses GPT Models, Targets Enterprise Use With Auditable AI Reasoning</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388443/chainlink-to-deliver-us-commerce-department-economic-data-on-chain-for-smart-contract-use">Chainlink To Deliver US Commerce Department Economic Data On-Chain For Smart Contract Use</a></li>



<li><a href="https://www.benzinga.com/crypto/25/08/47378142/polymarkets-new-rival-coinbase-backed-startup-bags-15-million-in-seed-funding-for-blockchain-based-prediction-platform">Polymarket&#8217;s New Rival? Coinbase-Backed Startup Bags $15 Million In Seed Funding For Blockchain-Based Prediction Platform</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47376707/bitcoin-a-currency-or-an-asset-jack-dorsey-picks-a-side">Bitcoin A Currency Or An Asset? Jack Dorsey Picks A Side</a></li>
</ul>



Trader Notes: Crypto Chase said Bitcoin's next key target is around $119,000, where he's interested in opening a long position.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Interested in this long if market offers it. <a href="https://t.co/kH1dDM0hnV">pic.twitter.com/kH1dDM0hnV</a>&mdash; Crypto Chase (@Crypto_Chase) <a href="https://twitter.com/Crypto_Chase/status/1961124098823557558?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



More Crypto Online <a href="https://x.com/Morecryptoonl/status/1961079398607499669">noted</a> Bitcoin had a quiet day with its recent bounce still in play, but current data suggests the correction from last week could extend further.



Inmortal <a href="https://x.com/inmortalcrypto/status/1961120009201033661">pointed</a> out that all past Bitcoin bull markets lasted 1,060 days, projecting this cycle to end in October 2025.



Altcoin Sherpa expects Bitcoin to test $115,000 in the short term but sees the 200 EMA on the 4-hour chart as a likely pullback zone.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> prob goes to 115k in the short term; after that, not sure. 200 ema on the 4h and s/r level should be a pullback region though, at least on lower time frames. <a href="https://t.co/N8zvxXCZbp">pic.twitter.com/N8zvxXCZbp</a>&mdash; Altcoin Sherpa (@AltcoinSherpa) <a href="https://twitter.com/AltcoinSherpa/status/1961082593685688758?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



CoinBureau co-founder Nic Puckrin <a href="https://x.com/nicrypto/status/1961016249674002725">warned</a> Friday could be pivotal, with $12 billion in options expiring at a max pain level of $116,000. Combined with uncertainty around PCE data, he expects elevated volatility.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47394536/bitcoin-undervalued-compared-to-gold-fair-value-at-126000-jpmorgan">Bitcoin Undervalued Compared To Gold, Fair Value At $126,000: JPMorgan</a></li>
</ul>



Image: Shutterstock

Bitcoin, Dogecoin Trade Sideways As Ethereum, XRP Slip

JPMorgan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) analysts believe Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is trading below its fair value as its price volatility falls to historic lows, narrowing the asset's risk-<a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47317346/bitcoin-to-hit-1-3-million-by-2035-bitwise-forecasts">adjusted gap with gold.</a>



Volatility in Bitcoin has slid from nearly 60% earlier this year to roughly 30%, the lowest level on record. 



What Happened: Analysts led by Nikolaos Panigirtzoglou said this dynamic implies a fair value near $126,000, a target they expect could be reached by year-end, <a href="https://www.theblock.co/post/368653/jpmorgan-says-current-bitcoin-price-too-low-sees-upside-to-126000-by-year-end?utm_source=twitter&amp;utm_medium=social">according</a> to The Block.



A major driver of the decline in volatility has been corporate treasuries, which now hold over 6% of Bitcoin's total supply. 



JPMorgan compared the phenomenon to the post-2008 bond market, where central bank quantitative easing dampened swings by locking assets into balance sheets.



Passive inflows are also increasing as Bitcoin gains exposure in equity indices. 



Strategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) has been added to key benchmarks, while Metaplanet's (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MTPLF#OTC">MTPLF</a>) upgrade to mid-cap status brought its inclusion in the FTSE All-World Index.



Both developments have fueled new allocations from institutional investors.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388921/bitcoin-and-ethereums-liquidity-driven-highs-expose-fragility-at-all-time-peaks-report">Bitcoin And Ethereum&#8217;s Liquidity-Driven Highs Expose Fragility At All-Time Peaks: Report</a>



Why It Matters: Competition among treasuries is intensifying.



KindlyMD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NAKA#NASDAQ">NAKA</a>), listed on Nasdaq, has filed to raise up to $5 billion after naming Bitcoin as its reserve asset. 



Meanwhile, Adam Back's BSTR is reportedly aiming to become the second-largest corporate holder of Bitcoin, trailing only Strategy.



Analysts said these trends, treasury demand, index-based inflows, and declining volatility, strengthen Bitcoin's investment profile. 



Lower volatility, they added, makes it easier for institutions to allocate risk capital, putting Bitcoin closer to gold in portfolio terms.



The volatility ratio of Bitcoin to gold has fallen to 2.0, its lowest ever. 



JPMorgan estimates Bitcoin's $2.2 trillion market capitalization would need to rise about 13%, bringing its price to roughly $126,000, to match the $5 trillion private gold market. 



They noted that Bitcoin traded $36,000 above this level at the end of 2024 but is now about $13,000 below it, underscoring potential upside.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47388443/chainlink-to-deliver-us-commerce-department-economic-data-on-chain-for-smart-contract-use">Chainlink To Deliver US Commerce Department Economic Data On-Chain For Smart Contract Use</a></li>
</ul>



Image: Shutterstock

Bitcoin Undervalued Compared To Gold, Fair Value At $126,000: JPMorgan

World Liberty Financial (CRYPTO: WLFI), a DeFi venture linked to President Donald Trump's family, is set to debut its <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47299641/trump-related-defi-platform-world-liberty-financial-debuts-wlfi-token-on-ethereum-mainnet">governance token WLFI</a>.



What Happened: World Liberty Financial is set to launch its token on Sep. 1, alongside its stablecoin USD1, which claims to be fully backed by cash and short-term U.S. Treasuries.



In a detailed X <a href="https://x.com/crypthoem/status/1960745633838469363">post</a>, pseudonymous trader Hoeem noted that unlike other stablecoins where interest income benefits corporate shareholders, USD1's yield is funneled via smart contracts into systematically buying and burning WLFI, making the token both governance-based and deflationary.



Adding to the intrigue, the Trump family is directly tied to the project, with Donald J. Trump listed as co-Founder Emeritus and his sons holding major allocations through DT Marks DEFI LLC, giving them real financial exposure.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47299641/trump-related-defi-platform-world-liberty-financial-debuts-wlfi-token-on-ethereum-mainnet">Trump-Related DeFi Platform World Liberty Financial Debuts WLFI Token On Ethereum Mainnet</a>



What's Next: Trader Hoeem argued that despite WLFI's "Ponzi-like" dynamics, the tokenomics could drive a powerful launch. 



Only 5% of supply will circulate initially, with institutions like DWF Labs, Aqua One Fund, and Nasdaq-listed ALT5 Sigma already invested at lower entry prices and reportedly armed with billions in dry powder to support the market.



This creates a reflexive loop of scarcity, buy pressure, and insider firepower, priming WLFI for a &#8220;violent pump&#8221; despite skepticism over its dynamics. 



While critics warn its fully diluted valuation (FDV) is inflated and that insiders will eventually dump vested tokens, the short-term setup favors a liquidity squeeze reminiscent of TRUMP&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) explosive run.



Side projects like Blockstreet and Dolomite could also benefit as higher-beta plays linked to WLFI's ecosystem. In short, WLFI is a political-meets-financial experiment that blends stablecoin yield capture, brand power, and engineered scarcity.



What's Next: Hoeem advised traders to ride the launch pump, avoid overexposure long term, and watch for another liquidity-driven cycle peak later in Q4.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47380651/bitcoin-holds-near-113000-as-ethereum-xrp-struggle-to-maintain-support">Bitcoin Holds Near $113,000 As Ethereum, XRP Struggle To Maintain Support</a></li>
</ul>



Image: Shutterstock

Is The Trump-Linked World Liberty Financial WLFI Token A Good Buy?

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) surge highlights how tightly crypto markets have become bound to global liquidity cycles, with central bank signals now moving prices as <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47364206/bitcoin-must-reclaim-117570-to-avoid-double-top-risk-veteran-trader-says">sharply as on-chain developments.</a>



What Happened: According to <a href="https://crackedlabs.substack.com/p/macro-fuel-market-fire-cryptos-liquidity?utm_source=post-email-title&amp;publication_id=3961802&amp;post_id=172103939&amp;utm_campaign=email-post-title&amp;isFreemail=true&amp;r=2ov80j&amp;triedRedirect=true&amp;utm_medium=email">analysis </a>from Cracked Labs, Federal Reserve Chair Jerome Powell's recent Jackson Hole speech, in which he hinted at possible "policy adjustments," was enough to spark a broad rally.



Bitcoin broke above $117,000 and Ethereum approached $4,900, showcasing how macro liquidity signals have become the primary catalyst for crypto markets.



"Macro liquidity cycles are not background noise, they are the operating system," the blog noted, warning that ecosystems which fail to align strategy with shifting liquidity conditions risk developer churn, token drawdowns, and lost momentum.



All-time highs (ATHs) are proving to be both a magnet for retail capital and a point of fragility. 



The report showed that while ATHs trigger euphoria, they also coincide with rising exchange supply, inflated profit ratios, and sharp swings in sentiment. 



The result is an emotionally unstable market where optimism can collapse within days.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47386176/fundstrats-tom-lee-says-ethereum-has-50-chance-of-flipping-bitcoin">Fundstrat&#8217;s Tom Lee Says Ethereum Has &#8216;50% Chance&#8217; Of Flipping Bitcoin</a>



Why It Matters: The divergence between fundamentals and hype is stark.



Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>) rallied to $25 in August on the back of increased network usage and whale accumulation, while Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based Yeezy Coin (CRYPTO: YZY) launched by Kanye West collapsed after briefly touching a $3 billion valuation built almost entirely on memes and speculation.



For ecosystems, the lesson is that liquidity may fuel rallies, but fundamentals sustain communities. 



"All-time highs often mark the riskiest moments," Cracked Labs wrote, emphasizing the need for projects to reward long-term contributors, manage treasury deployment around liquidity cycles, and highlight credible utility during hype phases.



The broader implication is that Powell's policy hints are now as critical to crypto's trajectory as any technological upgrade. 



Liquidity provides the gasoline, ATHs spark the fire, but only fundamentals, the report argued, can keep it burning.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47383027/xrp-market-cap-approaching-200-billion-then-why-is-xrp-so-hated">XRP Market Cap Approaching $200 Billion—Then Why Is XRP So Hated?</a></li>
</ul>



Image: Shutterstock

Bitcoin And Ethereum's Liquidity-Driven Highs Expose Fragility At All-Time Peaks: Report

Tech giant Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), is preparing to <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46618015/google-just-backed-blockchain-game-heres-what-that-means-for-web3-gamings-future">enter blockchain finance</a> with the commercial launch of Google Cloud Universal Ledger (GCUL) in 2026.



The platform mirrors several capabilities of Ripple Labs' decade-old XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) Ledger (XRPL), raising questions about potential competition in payments and tokenization, Protos <a href="https://protos.com/googles-blockchain-team-is-building-an-xrp-killer/">reported</a>.



What Happened: GCUL will support global payments, tokenized assets, financial APIs, and enterprise infrastructure, areas where XRPL has positioned itself for years.



 The Chicago Mercantile Exchange is already piloting tokenization of commodities, futures, and options on GCUL, marking a significant first-mover advantage compared to XRPL, where large-scale asset tokenization has yet to take off.



Unlike cryptocurrencies aiming to replace money, GCUL is designed as a complementary infrastructure layer for existing financial systems. Alphabet first introduced the project in March, but newly revealed details confirm a 2026 rollout.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47339935/xrp-holds-strong-around-3-is-a-breakout-brewing">XRP Holds Strong Around $3: Is A Breakout Brewing?</a>



Why It Matters: In a recent LinkedIn post, Google's Head of Strategy, Rick Woodman, <a href="https://www.linkedin.com/feed/update/urn:li:activity:7366124738848415744/">described</a> GCUL as "neutral infrastructure," noting that financial firms may avoid building on blockchains owned by competitors, but any institution could leverage GCUL's ecosystem.



""Tether won&#8217;t use Circle&#8217;s blockchain &#8211; and Adyen probably won&#8217;t use Stripe&#8217;s blockchain. But any financial institution can build with GCUL," he added.



Still, major differences remain: XRPL is public, decentralized, and powered by its native token XRP, with consensus run by global validators. GCUL, by contrast, will be private, permissioned, and has no announced native token. GCUL is also built in Python, while XRPL runs on C++.



With 300+ banking partnerships, XRPL has a decade of real-world operation but has yet to see mass adoption for on-chain banking. 



Google's deep enterprise reach and early CME collaboration could make GCUL a formidable new rival in blockchain finance.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47380651/bitcoin-holds-near-113000-as-ethereum-xrp-struggle-to-maintain-support">Bitcoin Holds Near $113,000 As Ethereum, XRP Struggle To Maintain Support</a></li>
</ul>



Image: Shutterstock

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