The cryptocurrency market continued its bearish trajectory on Tuesday, with the market cap down nearly 3% as Bitcoin (BTC) and other cryptocurrencies traded in the 0 sentiment around BTC intensified after the flagship cryptocurrency dipped below $112,000 and fell to a low of $109,152. The decline triggered nearly $940 million in liquidations, with $800 million in long positions 1 flagship cryptocurrency has made a marginal recovery and is currently trading around $110,050, down nearly 2% over the past 24 hours. Meanwhile, Ethereum (ETH) fell from $4,673 to a low of $4,335 as selling pressure 2 altcoin has lost momentum after weeks of upward momentum.
However, it has made a marginal recovery since, reclaiming $4,400 and moving to $4.420. Ripple (XRP) is down almost 2%, while Solana (SOL) is down over 7%, trading around $187. Dogecoin (DOGE) is down 6.57% while Cardano (ADA) is down over 5%, trading around $0.837. Chainlink (LINK) is down over 10%, trading around $23.05.
Stellar (XLM) , Hedera (HBAR) , Litecoin (LTC) , Toncoin (TON), Uniswap (UNI) , and Polkadot (DOT) also registered notable 3 Issuers Must Carefully Consider Crypto Exposure REX Financial CEO Greg King has urged crypto ETF issuers to carefully consider which cryptocurrencies to offer exposure to in their funds, adding that most of the crypto market is pretty 4 stated in an interview, “Crypto gets pretty sketchy below the top 10, certainly below the top 20. There’s some significant picking and choosing that has to happen by issuers there.” King added that he does not think there will be a boom in ETF filings for various cryptocurrencies. However, he predicted “a lot of funds per coin.” ETF issuers have been rushing to secure approval for an array of crypto funds following the success of spot Bitcoin ETFs and the crypto-friendly approach of the Securities and Exchange Commission (SEC) under the Trump administration.
Markets, including REX, are waiting for approvals for ETFs tied to 5 ETFs will track popular memecoins like Bonk (BONK), Official Trump (TRUMP), and Dogecoin (DOGE). King also called Solana (SOL) the future of stablecoins, shortly after launching a Solana ETF that included exposure to staking 6 touted Solana’s speed and processing speed, adding that it had been overlooked as the perfect blockchain for stablecoins. “Frankly, when I saw the big debate come out about stablecoins being all built on ETH Ethereum, I was like ‘this is a huge oversight.’ I think Solana is actually the story for the future as far as stablecoins go. A lot of people think that Solana is the up-and-comer that’s going to sort of dethrone Ethereum.
It’s a very controversial debate. I probably made friends and enemies by even suggesting that.” Global Regulators, Exchanges Push Back Against Tokenized Stocks Global regulators and exchange industry associations joined forces to stop the growth and adoption of tokenized stocks, arguing that such products do not represent actual equities and expose investors to high 7 to reports, the European Securities and Markets Authority (ESMA), the International Organization of Securities Commissions (IOSCO), and the World Federation of Exchanges (WFE) have written a letter to the United States Securities and Exchange Commission’s (SEC) Crypto Task Force, asking for more regulatory oversight of tokenized 8 organizations stated that while tokenized stocks mimic equities, they lack the investor protections built into the traditional 9 WFE said in a report, “We are alarmed at the plethora of brokers and crypto-trading platforms offering or intending to offer so-called tokenized US 10 products are marketed as stock tokens or equivalent to the stocks when they are not.” The pushback is significant given the organizations 11 is a European Union agency and one of the bloc’s main financial supervisory 12 is an international body responsible for setting standards for securities regulation and investor protection across global markets.
WFE, headquartered in the UK, represents exchanges and clearing houses 13 Flips Coinbase In The App Store Charts Gemini has surpassed Coinbase in the app store charts following the launch of an XRP-rewards credit card with Ripple Labs and 14 card gives users up to 4% back in XRP 15 announced the launch of the rewards card in a post on X. “Meet the Gemini Credit Card, XRP 16 for enthusiasts, this limited-edition metal card gives up to 4% back in XRP 17 waiting, just stacking.” Data from Sensor Tower revealed that Gemini overtook Coinbase in the finance category rankings soon after the 18 currently sits at 16th place, while Coinbase is at 20th 19 ranking jump is significant as Coinbase has over three times the daily trading volume of 20 Digital, Jump Crypto, Multicoin Plan Solana Fund Galaxy Digital, Multicoin, and Jump Crypto are reportedly working on a plan to raise $1 billion to purchase Solana (SOL).
According to several anonymous sources, the digital asset companies are looking to create the largest treasury dedicated exclusively to 21 sources also revealed that the three companies have tapped Cantor Fitzgerald as lead 22 plan involves taking over a publicly-traded entity to create a digital asset treasury company, which would focus on buying 23 Solana Foundation has also endorsed the efforts of the three companies and has backed the move to create a SOL 24 (BTC) Price Analysis Bitcoin (BTC) traded in the red for a fourth day, falling to a low of $108,670 before rebounding to reclaim $110,000 and settling at $110,068. The flagship cryptocurrency has struggled to regain ground after sentiment turned bearish following Friday’s rally to an intraday high of $117,416.
BTC traded in the red over the weekend, wiping out Friday’s gains after falling 1.30% on Saturday and nearly 2% on Sunday, when it fell to an intraday low of $110,635 before reclaiming $113,000 and settling at $113,478. Selling pressure intensified on Monday as BTC fell almost 3% and settled at $110,127. BTC’s plunge to a seven-week low liquidated around 200,000 traders for around $900 million over the past 24 25 decline also wiped out all the gains made following Fed Chair Jerome Powell’s speech on 26 to data from CoinGlass, most of the liquidations were long positions, coming as BTC briefly fell below $109,000 on Coinbase. A large Bitcoin holder also offloaded 24,000 BTC over the weekend, rotating the capital into 27 a result, it created excessive selling pressure on an already weary 28 Lucas, analyst at BTC Markets, stated, “Selling pressure intensified as a large holder offloaded 24,000 BTC, triggering a wave of liquidations.” BTC has dropped over 12% since August 14, when it surged past $124,000 and set a new all-time high, and over 7% since Friday’s Jackson Hole 29 co-founder Bobby Ong summarized BTC’s price action in a post on X, stating, “I wish I could go to sleep each night hugging my penguin and watching the charts go green 30 red candle is the best 31 that's not life, and we have to go through the tough liquidation days so that we can go up.” Some analysts, including Peter Schiff, predicted a drop to $75,000.
Others warned that investors were rotating capital out of BTC and other risk assets, amplifying price swings. “Capital is rotating out of risk, with thin weekend liquidity amplifying 32 remains a focus for institutions, but the market is now weighing whether this is a pause in the uptrend or the start of a deeper pullback.” BTC started the previous weekend in bearish territory, dropping nearly 1% on Friday (August 15) to $117,436. The price registered marginal increases on Saturday and Sunday, settling at $117,488. However, BTC was back in the red on Monday, dropping 1.02% to a low of $114,703 before settling at $116,286.
Selling pressure intensified on Tuesday as BTC plunged nearly 3%, slipping below $113,000 and settling at $112,856. Despite the overwhelming selling pressure, the price was back in positive territory on Wednesday, rising over 1% to reclaim $114,000 and settling at $114,276.) Price Analysis Ethereum (ETH) surged to a new all-time high on Sunday, reaching $4,957 as buyers eyed a move past $5,000. However, the world’s second-largest cryptocurrency faced rejection at this level and fell over 8% on Monday, slipping below $4,500 and settling at $4,380. ETH has recovered during the ongoing session and is up over 1%, trading around $4,424.
Despite Monday’s dramatic collapse, investors and treasury companies are bullish on the asset. Fundstrat’s Tom Lee made a bold prediction, stating that ETH’s bottom could arrive within hours. Meanwhile, BitMine Immersion Technologies doubled down on its strategy and purchased $21.28 million in 33 latest purchase takes the company’s holdings to 1.72 million ETH, valued at around $7.65 billion. Lee’s prediction about ETH’s bottom came after Mark Newton’s analysis suggested that ETH could see a correction before rallying past $5,000.
The prediction follows Lee’s August 19 prediction, when he correctly predicted a decline to the $4,075-$4,150 range. Meanwhile, BitMine has established itself as the world’s largest corporate Ethereum treasury thanks to an aggressive accumulation strategy that began in 34 Delaware-based firm disclosed crypto and cash holdings worth $8.82 billion following a $2.2 billion accumulation spree, ranking only behind Michael Saylor’s Strategy among global crypto 35 interest in ETH goes beyond BitMine, with BlackRock purchasing $314 million worth of ETH while reducing its BTC 36 Ethereum holdings have surged over 127% in 37 70 corporate entities control 4.3 million ETH, 3.6% of the asset’s total 38 ETFs continued registering inflows, with ETH ETFs managing over $12 billion in 39 started the previous weekend in the red, dropping over 2% to $4,444.
Sellers retained control on Saturday, registering a marginal decline before rising over 1% to end the weekend at $4,476. Selling pressure returned on Monday as ETH fell 3.58% and settled at $4,316. Bearish sentiment intensified on Tuesday as the price fell 5.54% to $4,076. Despite the overwhelming selling pressure, ETH recovered on Wednesday, rising over 6% to reclaim $4,300 and settle at $4,338.) Price Analysis Solana (SOL) registered a sharp jump on Friday, rising over 11% to $200.
It continued pushing higher over the weekend, increasing 1.73% on Saturday and almost 1% on Sunday to settle at $206. However, market sentiment turned bearish on Monday, and SOL plunged over 9% to $187. Despite the decline, institutional investors remain bullish on SOL, with several firms drawing up plans for a Solana treasury 40 to a Bloomberg report that cites anonymous sources, Galaxy Digital, Multicoin Capital, and Jump Crypto are planning to raise $1 billion to fund SOL 41 to the report, the companies will look to buy a publicly-traded entity and create a treasury focused on 42 report also claimed that the Solana Foundation had given its blessing to the plan.
Meanwhile, Pantera Capital is also looking to raise $1.25 billion to buy and convert a Nasdaq-listed company into “Solana Co.,” a public vehicle to purchase SOL as a treasury 43 to one report, Pantera is planning an initial $500 million raise, followed by a subsequent $750 million raise through 44 news comes after Pantera disclosed earlier this month that it had deployed around $300 million into digital asset treasury 45 registered a sharp drop on Friday (August 15), falling 3.48% and settling at $185. However, it rebounded over the weekend, rising 2% on Saturday and 0.73% on Sunday to settle at $191. Despite the positive weekend, SOL was back in the red on Monday, dropping over 4% to $183.
Sellers retained control on Tuesday as the price fell 3.69%, slipping below $180 and settling at $176. Bullish sentiment returned on Wednesday as SOL rallied, rising nearly 7% to reclaim $180 and settle at $188.) Price Analysis Toncoin (TON) faced volatility on Friday (August 15) as buyers and sellers struggled to establish 46 ultimately gained the upper hand as the price registered a marginal increase and settled at $3.43. Buyers retained control as the price rose 0.77% on Saturday and 1.59% on Sunday, settling at $3.51. Despite the positive sentiment, DOT was back in the red on Monday, dropping over 5% to $3.32.
Sellers retained control on Tuesday as the price fell 3% to $3.22. However, it recovered on Wednesday, rising nearly 2% to settle at $3.27.) Price Analysis Jupiter (JUP) registered a marginal fall on Friday (August 15) and settled at $0.506. It recovered on Saturday, rising 1.83% to $0.515, but was back in the red on Sunday, dropping 1.12% to $0.510. Selling pressure intensified on Monday as JUP fell 3.50%, slipping below $0.50 to $0.492.
Sellers retained control on Tuesday as the price dropped nearly 4% and settled at $0.474. Despite the overwhelming selling pressure, JUP recovered over the weekend, rising 5.57% and reclaiming the $0.50 level.
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