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Digital asset funds saw outflows of $1.43 billion last week, the largest since March.
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$ETH Has been holding on to its diagonal support as it has been chopping around in this price region. All in all, the main levels to watch are the 2021 all time high level around $4.9K and the local support at around $4K-$4.1K. Anything in between will likely just be a very volatile chop until a direction is chosen. $ETH
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Now, there's a scandal around Hyperliquid. A wallet allegedly linked to Justin Sun went long on XPL (Plasma) on Hyperliquid. Price shot up +200%, short traders got liquidated. The position was closed with a $16M profit. On other exchanges though no pump at all. Everyone's mad: turns out a whale can “play” the price inside Hyperliquid, punish arbitrageurs, and wipe out traders while staying untouchable. Trust in the DEX has taken a serious hit. $HYPE
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Pudgy Penguins Drop Soulbound Rewards. Pudgy Penguins are launching Pudgy Party, a mobile game packed with chaotic mini-games & 20-player obstacle madness. Early players who pre-download + register will score an “Early to the Party” Soulbound Token ($SBT). SBTs are non-transferable badges—Pudgy already experimented with “truePengu” tokens + Sotheby’s collabs. Game officially drops Aug 29 on iOS & Android, built with Mythical Games. Think Fall Guys but with pengus slipping their way to victory. $PENGU
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Tom Lee Says $ETH Bottom Is In. Fundstrat’s Tom Lee just called for Ether’s bottom within hours, eyeing a rally toward $5,100. BitMine backed it up, scooping 4,871 ETH ($21.2M) to boost its stash to 1.72M ETH ($7.65B). That makes BitMine the world’s biggest ETH corporate treasury, only second to MicroStrategy’s $BTC bag. Institutions are piling in—BlackRock grabbed $314.9M $ETH while trimming $BTC. Corporate ETH holdings jumped 127% in July, now at 4.3M ETH (3.6% of supply). $ETH
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When does the altcoin season start?!! Most are eagerly awaiting this season. When Bitcoin's bull run capitulates. Of course, in 2020, the bull run capitulated after a long period and a false breakout, similar to the current chart. It then declined and gave us a reversal candle. This is exactly what happened in the past two weeks, just as it happened. With Dominace, We anticipate that the Bitcoin bull run will be very negative in the coming weeks. According to these data and models, these are positive signs for a complete market recovery. We can say that the #Altcoins bull run has begun. Similar to what happened in 2020. I believe the time is near for altcoins. $BNB $LTC $TAO
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