The crypto market continued to fall this morning, with Ethereum barely holding $4,100 and Bitcoin falling below $113,000.
According to market data on August 20th, the crypto market continued its downward trend overnight and this morning. Ethereum fell to around $4,100 and is currently trading at $4,107.89, a 24-hour drop of 2.02%. Bitcoin fell below $113,000 and is currently trading at $112,895.92, a 24-hour drop of 0.78%. The main negative news likely stemmed from the decline in US stocks and the uncertainty of the international macroeconomic situation. US stocks closed slightly higher on Tuesday, with the Dow Jones Industrial Average down 0.58% and the Nasdaq down 1.46%. The renewed conflict between Russia and Ukraine and market expectations that Powell's speech might dash expectations of a 50 basis point interest rate cut are also contributing factors.
Traders bet on aggressive Fed rate cuts ahead of Jackson Hole symposium
Traders are piling into a specific options bet, betting the Federal Reserve will cut interest rates by more than 25 basis points next month. Positions tied to the overnight secured financing rate (SOFR), which closely tracks policy expectations, have seen strong demand since the beginning of the month. This week, traders have again increased their bets, with open interest in contracts for a 50 basis point rate cut surging. Federal Reserve Chairman Jerome Powell is set to deliver a key speech at Jackson Hole in the coming days. Earlier, stronger-than-expected U.S. inflation data had led some traders to lower their expectations for a rate cut. Despite a short-term pullback, traders appear to remain confident that a rate cut will occur next month. U.S. Treasuries ended a three-day sell-off on Tuesday, with yields across all maturities retreating. "As the market prepares for Powell's speech, the biggest risk facing U.S. Treasuries is that the Fed chairman chooses to throw cold water on the widely expected September rate cut," said Ian Lingen, head of U.S. interest rate strategy at BMO Capital Markets.
A whale has sold a total of 11,575 ETH in the past two days, with a total value of US$51.4 million.
On August 20th, Onchain Lens reported that the whale had sold another 8,500 ETH since yesterday. Overall, the whale sold 11,575 ETH at a price of $4,440, worth $51.4 million. The whale still holds 6,710 ETH, worth $27.6 million.
Ark Invest increased its holdings of Robinhood shares by approximately $16.22 million yesterday
On August 20, according to Ark Invest Daily monitoring, Cathie Wood's Ark Invest increased its holdings of Robinhood shares by 150,908 shares yesterday, which is worth approximately US$16.22 million based on the closing price.
Huang Licheng's floating loss on long orders has expanded to US$13.68 million
On August 20th, according to Onchain Lens, as the market fell, Huang Licheng, known as "Big Brother Maji," faced a floating loss of $13.68 million on his long positions. His current maximum position was a 25x long position on Ethereum, valued at $98.98 million, with a floating loss of $11.85 million and a liquidation price of $3,115.
Data: Today's Fear and Greed Index dropped to 44, turning into a "panic state"
According to Alternative.me data, the cryptocurrency fear and greed index fell to 44 today (the index was 56 yesterday), indicating that the market has turned into a "panic state."
Bitcoin DeFi Protocol Lombard to Launch Community Token Sale on Buildpad, Valuing $450 Million
On August 20th, the Bitcoin DeFi protocol Lombard officially launched a public sale of its community token (BARD) on Buildpad, with a valuation of $450 million. Details of the public sale are as follows: Total sales: $6,750,000; BARD distribution: 1.5% of the total supply; Lockup: Fully unlocked and vested at the TGE; Deposit range: $50 to $5,000; Payment tokens: USD1, LBTC, and BNB. The public sale will run from August 26 to September 4, 2025. Lombard has reportedly raised a total of $17 million in funding, with participation from investors including Polychain Capital and YZi Labs.
US SEC Chairman: Only a small portion of crypto tokens should be considered securities
On August 20, U.S. Securities and Exchange Commission Chairman Paul Atkins stated at the SALT Wyoming Blockchain Symposium that only a small portion of crypto tokens should be considered securities, marking a shift from the agency’s previous stance under Gary Gensler.
In the past 24 hours, the entire network has experienced a $532 million liquidation, with Ethereum being the largest liquidation currency.
On August 20th, according to Coinglass data, the entire network experienced $532 million in liquidations over the past 24 hours, with Ethereum accounting for $199 million, making it the largest cryptocurrency. Long positions were liquidated for $460 million. A total of 148,745 individuals worldwide were liquidated, with the largest single order being a BTCUSDT liquidation on Binance worth $9.6953 million.
US banking regulator to tackle state stablecoin regulations
On August 20th, the U.S. Stablecoin Certification Review Board will determine whether state frameworks are "substantially similar" to the federal stablecoin issuance system. This board, chaired by the Secretary of the Treasury and including the Chairs of the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC), requires consensus before state jurisdictions can obtain federal approval for stablecoin regulation. The "GENIUS Act" aims to streamline state-level regulation, and Gavin Meyers, a financial services regulatory partner at Pierson Ferdinand LLP, stated that the bill is expected to reduce the chaotic state of regulation.
Franklin Templeton CEO: Cryptocurrency investments should focus on infrastructure, not Bitcoin
On August 20th, Jenny Johnson, CEO of Franklin Templeton, a firm with $1.6 trillion in assets under management, stated at the SALT Conference in Jackson Hole, Wyoming, that Bitcoin is a "fear currency" that, in her view, distracts from the true potential of blockchain. She believes the most promising investment areas in the crypto space are blockchain infrastructure, including blockchain networks, consumer applications, and node validators. Johnson predicts that mutual funds and ETFs will gradually operate on blockchains, but regulatory risks remain the biggest obstacle to this transition. She emphasized that the transparency provided by validators could be a "game changer" for active investment managers.
Ethereum giants spend billions to enter Wall Street: a game for a new financial order
Cryptocurrency supporters celebrated Ethereum's 75% price surge at the NextFin NYC conference in New York, claiming it will reshape the future of finance. Companies like BitMine are hoarding Ethereum (worth over $6 billion), believing its smart contract platform's advantages will attract Wall Street. Despite competition from Solana and challenges with private blockchains, supporters believe corporate reserves and staking mechanisms will drive demand, but critics warn that corporate sell-offs could exacerbate market volatility. Standard Chartered and other institutions have raised their target price for Ethereum to $7,500.
After Monero's fall, Dogecoin becomes Qubic's next 51% attack target
After gaining control of a majority of Monero's hashrate, the Qubic community voted to target Dogecoin as its next target for a 51% attack. A previous attack on Monero forced Kraken to suspend deposits, raising concerns about the security of Proof-of-Work (PoW). Qubic's founders claim the move aims to redirect computing power toward AI applications, but experts disagree on whether it fully controls the network. As a top-ten cryptocurrency by market capitalization, an attack on Dogecoin could potentially cause market volatility.
Ethereum's "Four Billion" Withdrawal Wave: Whales Turning Around, Not Retail Investors Fleeing
The record-breaking 910,000 ETH (approximately $4 billion) in Ethereum validator withdrawals was primarily driven by Coinbase, which withdrew 430,000 ETH due to business restructuring, and Lido, which continued to rotate validators due to technical upgrades. Ethereum's "churn limit" mechanism ensures that only approximately 115,000 ETH can be withdrawn daily, limiting the market impact. This incident represents a planned institutional adjustment, not a market panic, and the actual liquidity impact is manageable.
