Key news that are moving the market
- Chain IPOs**: Companies like Figure, Gemini, and Bullish have filed their IPO applications or debuted with strong gains (Bullish surged up to 218% on its debut). This is generating a positive effect on the overall sentiment in the Web3 market.
- Activity in stablecoins: Although the minting data of 250 million USDC is from August 12, its impact remains relevant as a signal of incoming liquidity to the Ethereum ecosystem and other blockchains.
- Flows in Ethereum ETFs: A net outflow of $58 million from spot ETH ETFs was reported, which could be contributing to the recent downward pressure on the price of Ethereum.
