The word 'HODL' stopped being a typo long ago. It has become a battle cry, a mantra for those who believe that bear markets are just temporary pauses on the road to success.
What the former CEO of Binance ironically recalled when taking — or attributing — the following quote to Churchill: 'Success is not final, failure is not fatal: it is the courage to HODL that counts.'
Behind this conscious joke lies an unyielding truth: volatility is not an anomaly of the crypto market, it is its nature. HODL is more than an investment advice, it is a philosophy that blends patience, trust, and long-term vision. When everything wobbles, some sell in panic. Others, the 'hodlers', grit their teeth and hold their position.
The on-chain data cited by analyst Ali Martínez shows that $2.80 has functioned as a dynamic containment level. Every time the price approaches that figure, accumulation patterns by large XRP holders are activated.
This behavior generates technical rebounds and a rotation of positions in the market, consolidating the area as a key reference.
The liquidity heatmaps confirm that this level concentrates buy orders and short position closures, becoming a strategic point for short-term operations. However, its function as a buffer suggests that it does not offer the same robustness as a consolidated support.
The price of XRP is at a critical technical point according to renowned analyst Ali Martinez, who highlighted that on-chain data places $2.80 as a temporary buffer, while the actual support is located below $2.48. This finding provides a strategic insight to understand the current movements of the token and its strongest demand levels.
The relevance of this data lies in the fact that it reflects the activity of large holders, who have historically influenced price spikes. Understanding these zones can help anticipate future scenarios and assess the accumulation behavior that characterizes XRP. $XRP
In a new development, the Cardano community approved the funding of the Input Output Engineering protocol roadmap through voting. Following this key vote, funds from the Cardano treasury will be allocated to finance crucial technical improvements for Cardano, which extend to Ouroboros Leios, Hydra, and the Acropolis Project.
"Securing funding is just the beginning," commented Ricky Rand, CEO of Input Output Engineering. "This is a vote of confidence in the future of Cardano: a model of how decentralized funding and delivery can work at scale."
In light of the network improvements and the upcoming Midnight airdrop, the chances of approval for the Cardano ETF have surged to 83%, driven by renewed institutional interest. Meanwhile, the price of ADA has risen nearly 3% over the last day, trading at $0.72, but the 7-day chart reveals a 12% decline. $ADA
The founder of Cardano, Charles Hoskinson, has responded to claims that the network's treasury will pay the fees of projects for their inclusion on exchanges. In a post on X, Hoskinson revealed that neither SNEK nor Midnight will withdraw ADA from the Cardano treasury to fund their applications for inclusion on level 1 exchanges.
Hoskinson's comments come amid a proposal from Snek, the largest memecoin project on Cardano, to withdraw 5 million ADA tokens from the network's treasury. According to the proposal, ADA will fund Snek's inclusion on major cryptocurrency exchange platforms, with the team targeting Hyperliquid.
Although not explicitly disclosed, listings on top-tier exchanges can reach six-figure amounts. Hoskinson revealed that, despite his affinity for SNEK and Midnight, both projects will finance their listings with their reserves.
Currently, Snek is listed on several exchange platforms, while Midnight has yet to launch, as the community awaits its airdrop. Previously, Charles Hoskinson revealed that the launch of Midnight's Glacier will take place in the second half of the year, with a date announced for the Rare Evolution event.
“I support and like the SNEK community, but no one gets listing fees (including Midnight) covered by the treasury,” said Hoskinson.
However, Hoskinson revealed that structuring the request as a repayable bond to the Cardano Treasury is a viable alternative for projects. A previous request to convert a portion of Cardano's sovereign investment fund into stablecoins faced strong opposition from the community. $ADA
Charles Hoskinson has revealed that ecosystem projects will not receive ADA from the Cardano Treasury to pay their listing fees. His latest comments extend to Midnight and Snek, two of the key projects in the Cardano ecosystem. $ADA
Quantum computing will not decipher Bitcoin in this decade
Elon Musk, the richest man in the world, has dispelled fears that innovation in quantum computing could decipher the SHA-256 algorithm, the cryptographic algorithm fundamental to Bitcoin mining. In a post on X, in response to IBM's advancements in quantum computing, Elon Musk asked Grok to assess the probabilities that the technology would decipher the SHA-256 cryptographic algorithm.
Grok responded to Elon Musk's question that "the Bitcoin hash remains secure for now," with a probability that quantum computing will decipher SHA-256 in the next five years close to 0%. However, Grok adds that at the current pace of innovation, the probability will increase, but will remain below 10% by 2035.
As companies rush to innovate with quantum computing, Elon Musk has tested the short-term security of Bitcoin against emerging risks. Grok, Musk's artificial intelligence chatbot, revealed that Bitcoin will remain immune to the threats of quantum computing until the end of the decade. $BTC
Chainlink (LINK) is a key player in the world of cryptocurrencies. It is a network that connects smart contracts with real-world data. This makes it crucial for decentralized finance (DeFi) projects. In previous bull cycles, LINK has shown strong growth, and many cryptocurrency enthusiasts believe it can repeat this success. As more projects recognize the need for reliable data, LINK's technology could drive demand. While recent market declines have undermined confidence, the patterns of 2021 suggest there may be a recovery. With its strong foundation and unique utility, LINK looks attractive and is poised for the next altcoin surge. $LINK
The 4 most important events determining the market trajectory
On August 1, there was a significant macroeconomic trigger for cryptocurrencies, as several events unfolded. With Trump's tariff updates and the subsequent impact of rate cuts, volatility remained high. The situation remained similar on August 2, with the July non-farm payrolls and the unemployment rate, which crashed the cryptocurrency market. However, upcoming events could change or worsen this situation.
◽90-day tariff truce between China and the United States – August 12
August is full of crucial events in the cryptocurrency market that can significantly impact the trajectory of the entire market.
Although the first two days of the month had a slightly bearish tone, with massive liquidations from the events at the end of July and the beginning of August, experienced traders anticipate better results. However, this completely depends on the events and how they influence the trading momentum of investors. $BTC $ADA $HBAR
In a post by X, the on-chain analytics platform Arkham Intelligence revealed that an account associated with SharpLink had just invested $100 million to purchase ETH. The platform indicated that the address (0xCd9) in question had previously bought $800 million in ETH for the company.
Now, this address has sent another $108.6 million of USDC to Galaxy Digital's OTC, likely another attempt to acquire more ETH for the company's Ethereum Treasury. Other data from the Arkham platform shows that the address sent the $108.6 million of USDC in two transactions.
The address first sent 53.009 million USDC to Galaxy Digital's OTC wallet. Subsequently, it made another transaction of 55.565 million USDC to the same account. At the current market price, SharpLink is expected to receive around 31,941 ETH for its purchase of $108.6 million. The company already owns 438,200 ETH, not counting these coins.
Interestingly, this decision by the second largest treasury of Ethereum comes just as Eric Trump was advising investors to buy during the dip. ETH, along with the cryptocurrency market in general, has experienced a steady decline since the beginning of the week. Since then, the largest altcoin in the market has dropped from its local high of around $3,900. $ETH
SharpLink Gaming continues to accumulate ETH for its Ethereum treasury. This time, the company has taken advantage of the current correction in the cryptocurrency market to acquire just over 100 million dollars in ETH, a move that could help lower the average cost price of its total holdings. $ETH
The hack went unnoticed for years. Neither LuBian nor the attacker disclosed the breach. Arkham's investigation and revelation mark the first public acknowledgment. Their data shows that over 90% of LuBian's BTC was depleted in a short time.
On-chain data shows that the first major breach occurred on December 28, 2020. The next day, another 6 million dollars in Bitcoin had disappeared.
The value of the stolen Bitcoin amounted to 3.5 billion dollars at that time. At the current price of Bitcoin, the stolen BTC is worth over 14.5 billion dollars.
According to Arkham, a blockchain intelligence company, the largest Bitcoin (BTC) theft in history has been discovered. It involves a hack of 127,426 Bitcoins from a Chinese mining group called LuBian. $BTC
In the face of a widespread cryptocurrency market decline, Adam Back, CEO of BSTR, has identified a consistent streak of Bitcoin accumulation by a Bitfinex whale. Back pointed out the Bitcoin purchases in a post on X, noting that the entity has shown significant activity in the last 48 hours.
The Bitcoin pioneer revealed that the Bitfinex whale buys 300 BTC a day, based on a Time-Weighted Average Price (TWAP) strategy. Under this strategy, the Bitfinex whale will distribute the buy orders evenly, and Back hinted that the entity could have allocated $400 per second for Bitcoin purchases.
Adam Back detected the buying trend through the BTCUSDLONGS metric, which indicates long margin positions on Bitfinex. The steady increase in open long positions confirms the TWAP-style accumulation surge, with the whale using BTC as collateral for long positions.
In February, Back warned about the Bitfinex whale, and the entity increased its acquisitions to 1000 BTC a day, making purchases every minute to buy on dips. Meanwhile, the latest accumulation surge comes amid Eric Trump's signals to buy on dips in Bitcoin and Ethereum. $BTC
Adam Back has detected a wave of aggressive Bitcoin purchases by a Bitfinex whale, who is using a TWAP strategy to accumulate the asset in crisis. A strong correction has caused the price of Bitcoin to plummet below $113,000, amid investor requests to buy during the dip. $BTC
Trump pressures Powell to resign after Kugler's resignation
The governor of the Federal Reserve, Adriana Kugler, has resigned, giving Donald Trump the opportunity to reshape the monetary policy of the entity. Her resignation takes effect on August 8, before the end of her term in January 2026.
Trump quickly seized on her departure to increase pressure on Federal Reserve Chairman Jerome Powell. In a post on X, he wrote: "Powell should resign too late, just like Adriana Kugler, appointed by Biden. She knew he was acting wrongly with interest rates. He should resign too!".
Trump's request for Powell to resign following the departure of Fed Governor Kugler is fueling political pressure, but markets expect Powell to stay. $BTC $PAXG $USDC
While cryptocurrency enthusiasts like Eric Trump urge investors to showcase their talents, on-chain data indicates a massive sell-off of coins. Amid the widespread market collapse, Arthur Hayes offloaded 13 million dollars in cryptocurrencies, including ETH, ENA, and PEPE.
Bitcoin and Ethereum ETFs were the most affected by the massive sales, with combined outflows nearing one billion dollars in the last day. According to SoSoValue Data, spot Bitcoin ETFs lost a staggering 812 million dollars, while Ethereum ETFs ended their 20-day streak of consistent inflows with outflows of 152 million dollars.
As traders attempt to understand the cryptocurrency market drop, several macroeconomic factors are at the core of the correction. Recently released U.S. employment data for July and the consequences of Trump's tariffs continue to fuel pessimism about Bitcoin and Ethereum prices. $BTC $ETH $ENA