Bitcoin holds steady, Ethereum surprises, and new threats shake the network
The crypto ecosystem experienced an intense day this Wednesday, August 6. While Bitcoin struggles to maintain its price in a critical zone, Ethereum shows signs of institutional strength. At the same time, multichain adoption advances, but not without risks: a new wave of attacks exposes vulnerabilities in addresses with EIP-7702. Here are the key facts and their impact on the market.
Bitcoin tries to hold USD 114,000 despite ETF pressure
The price of Bitcoin (BTC) fluctuated this Wednesday between USD 113,100 and USD 115,500, marking a key battle for the psychological support of USD 114,000. This resistance comes in a complex context: BTC spot ETFs are experiencing their fourth consecutive day of net outflows, totaling over USD 700 million in withdrawals during the week.
Analysts attribute this movement to a resurgence of fear of stagflation in the U.S., which has impacted both cryptocurrencies and stocks. Nonetheless, funds like Fidelity and ARK continue to quietly accumulate on pullbacks, suggesting that the institutional narrative remains alive, albeit with caution.
Ethereum attracts capital: ETFs reverse the downward trend
In contrast, Ethereum (ETH) experienced a day of optimism: its spot ETFs reported net inflows of over USD 73 million, led by BlackRock's ETHA fund. This marks the first positive flow after nearly two weeks of continuous outflows.
The market seems to be rewarding Ethereum's technical advances and its ecosystem, especially after the implementation of new scaling solutions and the imminent adoption of technologies related to real-world assets (RWA).
Phishing wave targets addresses with EIP-7702 (Pectra)
One of the biggest alerts of the day came from the technical side. Users who had updated their Ethereum wallets with the EIP-7702 proposal (part of the Pectra upgrade) are being targeted by sophisticated phishing attacks.
The attacks simulate common transactions (like swaps on Uniswap), but use scripts to execute multiple transfers in parallel. The exploit has already generated losses exceeding USD 200,000 and thousands of victims have been identified. Platforms like GoPlus Security and Wintermute have issued alerts, recommending to avoid delegating unverified contracts.
Security recommendation: if you have upgraded your wallet to EIP-7702, check your active permissions on interfaces like Revoke.cash or DeBank and avoid signing transactions from external or unofficial links.
Trust Wallet evolves: now you can send tokens without having gas
In a move aimed at eliminating entry barriers for non-technical users, Trust Wallet now allows sending tokens across different networks without the need to hold the native currency of each chain (like ETH or BNB).
This is achieved thanks to a new abstracted gas feature, supported by integrated multichain solutions. For example, it is now possible to send USDT from Ethereum to Polygon without having MATIC or ETH in the wallet. This innovation could significantly accelerate the adoption of retail users who faced operational difficulties with the use of multiple blockchains.
Bitcoin community launches campaign to restore Satoshi's statue
The physical symbol of Satoshi Nakamoto in Lugano, Switzerland, was stolen and thrown into a lake last weekend. After a joint operation between local authorities and crypto activists, the statue was recovered on August 5, although with structural damage.
In response, the community has launched a donation campaign to restore and reinstall it in a safer location. The artistic collective SatoshiGallery offered to remake the work at no additional cost to the municipality, as a gesture of cultural defense of the Bitcoin movement.
Conclusion: What do these signals tell us?
Bitcoin faces institutional pressure, but remains resilient.
Ethereum begins to differentiate itself through solid fundamentals and real adoption.
Multichain usability is advancing strongly, but security remains a critical weak point.
Meanwhile, the crypto community demonstrates that beyond price, there is also identity and belonging.
Stay informed. Protect your funds. Bet on real utility.
