✅ BitMine has increased its ETH reserves to $3 billion after acquiring 208,137 ETH
BitMine Immersion Technologies last week acquired 208,137 ETH (~$3 million), bringing its reserves to 833,137 ETH. After this, ETH skyrocketed by nearly 6%, to $3,730. The purchase confirmed institutional confidence, boosting positivity for ETF investors and long-term sentiment.
Ethereum offers EIP-7999 to unify fees and simplify UX
Ethereum developers proposed EIP-7999 to consolidate computation, storage, and data fees into one maximum fee. This approach simplifies the user experience and strengthens competition with Solana and Tron. It could boost adoption and institutional support for ETH.
✅ StableStock launches StableBroker for trading stocks via DeFi
The StableStock project has launched the beta version of StableBroker — a platform for trading stocks via DeFi. Starting August 11, whitelisted users can trade commission-free. Integrating stocks into the on-chain ecosystem could attract new capital and strengthen DeFi's positioning in the market.
✅ Bitcoin remains stable around $113,600 — increasing trading volumes
On August 6, BTC was trading near $113,579, showing a decline of only 0.78% for the day. Trading volumes increased by 10% — to $60 billion on CoinMarketCap. Such activity indicates sustained demand despite a short-term corrective movement.
✅ BTC futures show cautious optimism: 36% chance of falling to $100K, but 59% chance of rising to $123K+
Traders assess a 36% chance of BTC falling below $100K, and a 59% chance of breaking ATH of $123K by the end of September. For ETH, there is a 22% probability of retesting $2,500. The data reflects potential volatility but also maintains investor optimism.
❌ BTC ETF lost $196M for the fourth consecutive day due to stagflation fears
Investors withdrew $196 million from Bitcoin ETF on August 6 — marking the fourth consecutive day of negative flow. The anxiety is driven by stagflation concerns in the US: inflation is outpacing employment growth, exacerbating stock market pressures and Bitcoin weakness.
❌ Derivatives market: the likelihood of ETH falling to $2,500 has increased
Derivatives show rising chances of ETH falling to $2,500 — 22%, which is 14% higher than last week. This indicates that some traders are preparing for a technical pullback amid decreasing short-squeeze sentiments.
❌ The crypto market is facing headwinds: decline in ETF inflows and macro uncertainty
Analysts predict that despite optimism from lawmakers, declining ETF reserves, macro challenges, and political instability may come to the forefront. This creates short-term volatility and potential for new pullbacks.
❌ Brazil plans to create a national Bitcoin reserve — but regulatory risks
The Brazilian parliament is discussing a law to create a national BTC reserve similar to the US. While this creates institutional demand, it raises concerns about potential state concentration of the asset and risks of political interference.
❌ Amid the decline of ETH and BTC, fear of stagflation is rising
Investors and analysts emphasize the risks of stagflation — the slowdown of economic growth amid high inflation — which could negatively impact ETF purchase deficits and increase volatility in the crypto market.