The cryptocurrency market is up almost 4% as Bitcoin (BTC) and other digital assets traded in positive territory. Altcoins led the surge, with Ethereum (ETH) rising by almost 8% and Ripple (XRP) increasing by nearly 14%. BTC reclaimed $116,000 on Thursday as momentum returned. The flagship cryptocurrency is up almost 2%, trading around $116,727.
ETH is up nearly 8% and has crossed $3,900, trading around $3,932. XRP is up nearly14% and has surged past $3 to trade around $3.37. Solana (SOL) is up nearly 5%, trading around $174, while Cardano (ADA) is up almost 8% at $0.794. Dogecoin (DOGE) is up over 8%, while Stellar (XLM) is up a staggering 16.89% and rising. Chainlink (LINK), Hedera (HBAR), Litecoin (LTC), Toncoin (TON), and Polkadot (DOT) also registered significant price increases.
SEC, Ripple File To Drop Appeals, End Lawsuit
The United States Securities and Exchange Commission (SEC) and Ripple Labs have agreed to end their legal battle, and have jointly asked an appeals court to dismiss the market regulator’s appeal and Ripple Labs' cross-appeal. The Second Circuit Appeals Court recognised the joint dismissal of the appeal and Ripple’s cross-appeal. The court also noted that each party will bear their own costs and legal fees. Ripple’s chief legal officer, Stuart Alteroty, stated on X,
“Following the Commission’s vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals. The end…and now back to business.”
With the appeals process abandoned, New York federal Judge Analisa Torres’ decision in 2023 will be final. Judge Torres ruled that the XRP sold on public exchanges did not meet the definition of a security. However, tokens sold to institutional investors were sold as unregistered securities. Judge Torres ordered Ripple to pay a $125 million fine to the SEC, significantly lower than the $2 billion demanded by the SEC. The settlement saw XRP’s value surge, with Rippl’e’s native token up nearly 14%.
Trump Nominates Top Economic Advisor To Crucial Fed Seat
US President Donald Trump will nominate Stephen Miran, Chair of the Council of Economic Advisors, to temporarily replace Federal Reserve Board of Governors member Adriana Kugler. Kugler’s resignation comes into effect on Friday. Trump stated that Miran will serve at the Fed until January 31, 2026, and the White House will continue searching for a permanent replacement. Trump was considering economic advisor Kevin Hassett, former governor Kevin Warsh, and two others as Kugler’s replacement before selecting Miran.
The appointment could have a significant influence on the country’s monetary policy, including interest rates. The nomination must be approved by the Senate.
IREN Shares Up 11%
IREN Ltd shares closed 11% higher on Wednesday after the Bitcoin miner outperformed MARA Holdings, mining 738 BTC to MARA’s 703 BTC. IREN beat MARA despite having a smaller hashrate of 50 exahashes per second, compared to MARA’s 58.9 exahashes per second. IREN’s average hashrate in July was an impressive 45.4 exahashes, indicating that most of its machines remained online and productive throughout the month.
Despite MARA’s underperformance, it posted impressive second-quarter earnings as its revenue rose 64% year-on-year to $238 million. The revenue jump comes despite growing mining difficulty, which has impacted profitability.
Altcoin Season Back On Track?
Altcoin season could be back after an extended hiatus as the market shifted focus to Bitcoin (BTC). However, recent market activity suggests a shift back to altcoins, with inflows on Binance reaching their highest levels in 18 months. A CryptoQuant analyst highlighted a resurgence of interest in altcoins. The analyst stated that whenever traders move their assets onto exchanges, they are preparing for major trading activity. Altcoin inflows remained flat for months as BTC dominated the market thanks to its parabolic rally.
Historically, altcoin season often follows a strong BTC bull run. Once BTC’s rally cools, investors often rotate their profits into smaller cryptocurrencies. It is likely the same pattern is playing out.
Vitalik Buterin Backs ETH Treasury Firms, But Flags Overleverage Risk
Ethereum co-founder Vitalik Buterin has backed emerging ETH treasury companies, stating that such companies can give a wider base of investors access to the token. However, he warned against the risk of overleverage if companies do not manage their positions responsibly. Buterin stated during an interview,
“There are valuable services that are being provided there.”
The Ethereum co-founder added that companies buying into ETH treasury firms instead of directly holding the asset gives investors more options. Crypto treasury companies have become the next big thing on Wall Street, spending billions to accumulate assets like BTC, ETH, and Solana (SOL). However, Buterin added a word of caution, stating that treasury companies must not fall into the leverage trap.
“ETH just being an asset that companies can have as part of their treasury is good and valuable… giving people more options is good. However, if you woke me up three years from now and told me that treasuries led to the downfall of ETH, then, of course, my guess for why would be that somehow they turned it into an overleveraged game.”
Buterin discussed a worst-case scenario where a drop in ETH’s value could trigger liquidations. However, he stated that ETH investors have enough financial discipline to avoid such a scenario.
“These are not Do Kwon followers that we’re talking about.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) is marginally down during the ongoing session as buyers struggle to build momentum and push towards $120,000. The flagship cryptocurrency has recovered strongly this week after falling to an intraday low of $112,707 on Tuesday. BTC reclaimed $115,000 on Wednesday and rallied over 2% to reclaim $117,000 on Thursday, settling at $117,483. The current session sees BTC marginally down, trading around $116,700.
According to experts, BTC’s latest rally is being driven by smart money, pushing prices up after weeks of sideways movement. Bitunix analysts explained that major funds are leveraging market liquidity and liquidation events to push BTC higher. This means institutional players are buying BTC when liquidity is low. Thanks to low liquidity, the purchases are having a substantial impact on prices, drawing in more traders.
“If $115k holds, smart money may guide the market to clear liquidity up to the $123k – $127k range. Continued ETF accumulation and expectations of macro monetary easing remain the broader backdrop for the bull market.”
Several macro factors are also responsible for BTC’s latest push. Outlook remains bullish for the flagship cryptocurrency, with Jacob Phillips, co-founder of Lombard Finance, highlighting President Trump’s executive order allowing crypto in 401(k) retirement accounts. According to Phillips, this is “the largest moment in mass adoption yet.”
“Bitcoin will likely be the first available opportunity and the first choice of many Americans, and just a 1% portfolio allocation to Bitcoin brings $120B in new flows.”
This could be one reason behind institutions accumulating BTC. However, while institutions are pivoting to BTC, B2B Ventures believes retail investors are pivoting to smaller-cap tokens.
“Despite Bitcoin’s price holding steady above $110K, its volatility has dropped to the lowest level since 2023 — a time when BTC was trading around just $30K.”
BTC started the previous week in the red, dropping 1.11% to $118,069. It encountered volatility on Tuesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a marginal decline. BTC fell to an intraday low of $115,772 on Wednesday. It rebounded from this level to reclaim $117,000 and settle at $117,788, ultimately registering another marginal drop. Sellers retained control on Thursday as the price fell nearly 2% and settled at $1165,800. Selling pressure intensified on Friday as BTC plunged over 2%, slipping below $114,000 and settling at $113,365. The flagship cryptocurrency continued declining on Saturday, falling 0.67% to $112,601.
Source: TradingView
Despite the overwhelming selling pressure, BTC recovered on Sunday, rising 1.52% to cross $114,000 and settle at $114,311. Buyers retained control on Monday as the price rose 0.69% to cross $115,000 and settle at $115,097. BTC was back in bearish territory on Tuesday, falling to an intraday low of $112,707. However, it rebounded from this level to reclaim $114,000 and settle at $114,135, ultimately registering a 0.84% drop. Buyers returned to the market on Wednesday as the price rose 0.80% to reclaim $115,000 and settle at $115,051. Bullish sentiment intensified on Thursday as BTC rallied, rising over 2% to cross $117,000 and settle at $117,483. The current session sees BTC marginally down, trading around $116,860. Buyers will look to regain control and push the price back above $117,000. If bullish sentiment persists, BTC could cross $120,000.
Ethereum (ETH) Price Analysis
Ethereum (ETH) is closing in on $4,000 as its rally continues. A break above this level could trigger further gains for the world’s second-largest cryptocurrency. ETH ended Tuesday in the red but recovered on Wednesday, rising 2% to $3,685. Buyers retained control on Thursday as the price rose over 6% to cross $3,900 and settle at $3,911. ETH bulls will look to push above $4,000 before the weekend lull sets in.
On-chain metrics show that ETH is gaining strength across multiple key indicators. Stablecoin supply on the Ethereum network has risen 7% in the past 30 days, reinforcing its dominance as the leading blockchain for stablecoin activity. Transaction volumes also surged during the same period, rising to $766 billion, while active addresses grew to 2.5 million. The surge in activity comes after President Trump signed the GENIUS Act, widely regarded as the first crypto-friendly legislation in the US. Ethereum’s decentralized finance sector is also booming, with total value locked (TVL) reaching $187 billion. dApps like EigenLayer, Aave, and Lido have registered substantial growth over the past month.
Institutional interest is also surging as Wall Street continues accumulating ETH. Cumulative inflows into spot Ethereum ETFs crossed $9.2 billion, with BlackRock’s ETHA holding nearly $11 billion in assets under management.
ETH ended the previous weekend up 3.52% at 3,875. However, it lost momentum on Monday, falling over 2% to $3,797. The altcoin experienced volatility on Tuesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as ETH registered a marginal decline. The price fell to an intraday low of $3,680 on Wednesday. However, it rebounded from this level to reclaim $3,800 and settle at $3,811, ultimately rising 0.42%. Sellers reclaimed control on Thursday as ETH fell almost 3% and settled at $3,699. Selling pressure intensified on Friday as ETH plunged nearly 6% to $3,488. Sellers retained control on Saturday as the price fell almost 3% and settled at $3,393.
Source: TradingView
ETH recovered on Sunday, rising over 3% to settle at $3,500. Bullish sentiment intensified on Monday as the price rallied, rising over 6% to cross $3,700 and settle at $3,721. ETH was back in the red on Tuesday, falling nearly 3% to $3,613. However, it was back in positive territory on Wednesday, rising 2% and settling at $3,685. ETH rallied on Thursday, rising 6.13% to cross $3,900 and settle at $3,911. ETH is marginally up during the ongoing session, trading around $3,927 after reaching an intraday high of $3,967. Buyers will look to build momentum and push ETH past $4,000.
Solana (SOL) Price Analysis
Solana (SOL) is pushing towards the $180 mark as buyers look to build momentum and target $200. The altcoin dropped sharply on Tuesday but recovered on Wednesday, settling at $168. Bullish sentiment intensified on Wednesday as SOL reclaimed $170 and settled at $175, with the price up 1% during the ongoing session.
Like BTC and ETH, SOL is also witnessing a substantial jump in institutional interest. Publicly-listed companies hold over $590 million worth of SOL. According to data from CoinGecko, four companies, Upexi, DeFi Developments Corp, SOL Strategies, and Torrent Capital, acquired over 3.5 million SOL, one of the strongest accumulation waves in SOL’s history. Upexi built its treasury, the largest, within four months, signaling high-conviction and long-term confidence in the asset. DeFi Development Corp took a measured approach, adding to its treasury during price dips. SOL Strategies gradually built its treasuries, while Torrent Capital adopted a strategically timed move, allowing it to secure gains during SOL’s recent rally.
SOL started the previous week with a sharp jump to an intraday high of $195. It lost momentum after reaching this level, dropping over 3% to $183. Sellers retained control on Tuesday as the price fell almost 1% to $181. SOL dropped to an intraday low of $170 on Wednesday as selling pressure intensified. However, it rebounded from this level to settle at $177, ultimately registering a 2.06% decline. The price continued declining on Thursday, dropping over 3% and settling at $172. Bearish sentiment intensified on Friday as SOL plunged nearly 6%, falling to a low of $159 before settling at $162. Sellers retained control on Saturday as the price fell 2.57% and settled at $158.
Source: TradingView
SOL recovered on Sunday, rising over 2% to reclaim $160 and settle at $162. Bullish sentiment intensified on Monday as the price rose nearly 5% and settled at $169. Price action turned bearish on Tuesday as SOL fell over 3% to $164. However, it recovered on Wednesday, rising 2.50% to settle at $168. Bullish sentiment intensified on Thursday as the price rallied, rising over 4% to reclaim $170 and settle at $175. The current session sees SOL marginally up as buyers and sellers struggle to establish control.
Aptos (APT) Price Analysis
Aptos (APT) spent last week in the red as bearish sentiment dominated price action. Buyers attempted a recovery on Thursday (July 31) when the price reached an intraday high of $4.62. However, it lost momentum after reaching this level, dropping nearly 4% to $4.31. By Saturday, APT fell to a low of $4.05 as bearish sentiment peaked and sellers attempted to breach the $4 support level. Despite the overwhelming selling pressure, APT recovered on Sunday, rising nearly 3% to $4.22. Buyers retained control on Tuesday as the price rose over 3% and settled at $4.36.
Source: TradingView
Despite the positive start to the week, APT lost momentum on Tuesday, falling to an intraday low of $4.18 before settling at $4.28, ultimately registering a 1.93% decline. Sellers retained control on Wednesday as the price fell nearly 1% and settled at $4.24. APT rebounded on Wednesday, rising over 4% and settling at 4.42. Bullish sentiment has intensified during the ongoing session, with the price rising over 5% to trade at $4.66.
Dogwifhat (WIF) Price Analysis
Dogwifhat (WIF) entered the weekend in the red, dropping over 4% on Friday and settling at $0.880. Bearish sentiment intensified on Saturday as the price fell to an intraday low of $0.820. However, it rebounded from this level to settle at $0.857, ultimately registering a 2.68% drop. WIF recovered on Sunday, rising nearly 5% and settling at $0.897. Buyers retained control on Monday as the price rose over 3% to cross $0.90 and settle at $0.926.
Source: TradingView
Despite the positive start to the week, WIF lost momentum on Tuesday, dropping almost 6% and settling at $0.872. Buyers returned to the market on Wednesday as WIF rose 3.57% to reclaim $0.90 and settle at $0.903. Price action remained bullish on Thursday as WIF rose almost 6% to $0.954. The current session sees the price marginally up as buyers and sellers struggle to establish control.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
