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Trader DonAlt, who had predicted XRP’s 700% rise in 2024-2025, set a long-term target of $10,000 for Ethereum but said he plans to take profit at $3,000 on his actual position. DonAlt said he entered an ETH long at around $1,900 on Aug. 13 and plans to buy more if the price falls to the $1,700 support zone. DonAlt sees $4,000 as the formal target and $10,000 as a longer-term possible target, while planning to lock in gains at $3,000 this time after missing a selling opportunity during XRP’s past rally by waiting for higher targets.

Ethereum is exploring a hybrid model that combines the advantages of different blockchain state management approaches to improve scalability, Ethereum co-founder Vitalik Buterin said. Buterin said the goal is to combine the strengths of the UTXO model, dynamic state management, and approaches between the two so Ethereum can preserve decentralization and censorship resistance while handling most network activity at scale. He also praised the Bitcoin community for advancing state data optimization technologies such as Utreexo, which reduces the data nodes must store so full nodes can run with fewer resources.

Binance CEO Richard Teng said on X that the crypto industry is evolving beyond simple trading, with users gaining access to a wider range of markets through crypto. Teng said stablecoins are being used as financial infrastructure and that cases of people using crypto directly in everyday life are gradually increasing. He added that the most important value of innovation lies in helping people access new opportunities in practical and secure ways.

BitMart’s official X account posted public criticism of founders Sheldon Xia and Nancy Li after the exchange announced a shutdown in late July and then faced trading halts and withdrawal delays. The post called for an explanation and a repayment plan related to withdrawal restrictions, alleged user fund losses, and unpaid employee wages. BitMart has remained embroiled in controversy since announcing the suspension of operations. The founders denied allegations of fund misappropriation and said they were reviewing assets, but dissatisfaction among users and employees has continued to intensify. The post also included photos of the two founders’ passports.

If BTC rises above $64,135, about $295.33 million in short positions across major centralized exchanges could be liquidated, according to CoinGlass data. If BTC falls below $62,485, about $232.54 million in long positions could be liquidated.

An anonymous whale address beginning with 0x0140 deposited 32,400 ETH worth $61.48 million into Ethereum’s beacon chain deposit contract, Whale Alert reported.

Dutch prosecutors plan to use proceeds from the sale of bankrupt local crypto exchange Knaken’s holdings, sold for 2.2 million euros ($2.55 million), to repay creditors. According to U.Today, signs emerged that about 7 million euros ($8.12 million) in customer funds vanished after Knaken halted services for failing to meet the European Union’s new regulatory requirements. The exchange had attracted around 30,000 customers through efforts including soccer club sponsorships.

EmberCN said some addresses suspected of leading SIREN price manipulation in June also appear to have manipulated XPIN. Two addresses beginning with 0x6449 and 0x58B0 deposited 1.324 billion XPIN, worth $1.71 million, into Binance Alpha, after which XPIN fell 29% to $0.0012 from $0.0017, according to EmberCN.

Bybit announced it will delist the CAMP, WHITEWHALE, CUDIS, PIRATE, TAI and SVL spot trading pairs at 8:00 a.m. UTC on Aug. 25.

Reuters reported Binance provided Russian law enforcement authorities with cryptocurrency transaction records and personal data tied to a donor who supported Ukraine’s military, and the materials were used as evidence for terrorism allegations. Russian national Yuri Belenkiy is under arrest and investigation in Russia on accusations of sending more than $700 to a fundraiser supporting Ukraine’s military. At the request of Russian authorities, Binance sent Belenkiy’s identity information, a copy of his passport and a file containing his transaction history, according to Reuters. Reuters added Binance announced a full withdrawal from the Russian market in September 2023, but the exchange still responded to information requests from local authorities after the formal exit. The case is fueling controversy over a possible violation of EU data protection rules, Reuters said.

Iranian Foreign Ministry spokesperson Baghaei said the so-called 60-day deadline had become completely meaningless after the United States violated a memorandum of understanding signed by Tehran and Washington on June 18, local time. Baghaei said the MOU contained no clause mentioning any 60-day deadline and stressed that Iran does not formulate policy under pressure, ultimatums, or time limits. Baghaei added that the MOU had originally set a 60-day negotiation period on two agenda items, sanctions relief and the nuclear issue, with the option to extend the period if no agreement was reached. But the United States, Baghaei said, violated the agreement "seriously and extensively" within weeks of signing it, preventing the negotiations from getting underway at all. He added that the 60-day deadline had therefore become completely meaningless.

An anonymous whale address beginning with 0xff84, which had been holding a roughly $125 million Bitcoin short position on Hyperliquid (HYPE), cut part of the trade at a loss, according to ai_9684xtpa. The address reduced the position by 300 BTC about 40 minutes ago, realizing cumulative losses of $988,000 since Aug. 5. It now holds a 1,700 BTC short position worth $108 million, with unrealized profit of $96,000. The position faces forced liquidation at $63,710.5.

Newly wealthy individuals created by the AI boom are increasingly using cryptocurrency to pay for ultra-luxury goods, the Financial Times reported. According to the report, ultra-high-net-worth buyers who amassed wealth rapidly as the AI industry expanded are flowing into the bespoke luxury market, driving a structural shift in spending patterns. The group has been actively using crypto payments in segments including private aircraft, custom-built yachts, and luxury supercars.

An anonymous whale address starting with bc1qwh2 withdrew 2,782 BTC worth $177 million from Bitstamp, Whale Alert reported. Exchange outflows are typically interpreted as a sign of holding intent.

Binance to suspend BNB Smart Chain token deposits, withdrawals for wallet maintenance Binance announced it will carry out scheduled maintenance on its BNB Smart Chain (BEP-20) wallet at 5:55 a.m. UTC on Aug. 20 and temporarily suspend deposits and withdrawals for cryptocurrencies on the network. The maintenance is expected to take about one hour.

An anonymous whale address beginning with 0x988c transferred 289,760 LINK worth $2.74 million, withdrawn from Binance over the past month, into a Gnosis Safe multisig wallet, Onchain Lens reported. Gnosis Safe is a self-custody wallet, and the transfer is seen as a move for holding purposes.

Greenlane Holdings, a corporate buyer of Berachain token BERA, is sitting on an unrealized loss of about $53.6 million as BERA has fallen sharply. The company currently holds 81.3 million BERA valued at about $16.4 million as of late June, after investing roughly $70 million to acquire the position, leaving it with an unrealized loss of about 76.6%. BERA is down about 75.9% since the start of the year. Separately, Greenlane posted a net loss of $24.8 million for the second quarter, including $19.1 million in crypto-related valuation losses.

Capital B, a European-listed company pursuing a strategic Bitcoin buy, announced an additional purchase of five BTC. The company now holds 3,145 BTC.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 53.65% long, 46.35% short - Binance: 51.65% long, 48.35% short - OKX: 50.32% long, 49.68% short - Bybit: 51.82% long, 48.18% short

Bitcoin futures open interest remains well above daily trading volume, raising the risk of sharper downside moves in a sudden sell-off, according to CoinDesk. BTC futures open interest currently stands at about $48 billion, while 24-hour trading volume is around $25 billion. Glassnode said buy-the-dip limit orders have fallen to about one-third of their level in early July, adding that support near Bitcoin’s June low of $58,000 has weakened. Spot volume also came in at $12.55 billion, or about half of futures volume, Glassnode said, increasing broader market volatility risk.

Competition in crypto payment cards is intensifying, Wu Blockchain reported. More than 250 related projects are currently operating in the crypto market, including exchange cards from Binance and Bybit, payment cards from EtherFi (ETHFI), KAST, and Plasma One, as well as cards from traditional payment companies such as PayPal and BitPay.

24-hour crypto futures liquidations The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $22.12 million liquidated (52.79% longs) - ETH: $19.76 million liquidated (57.09% shorts) - SNDK: $12.73 million liquidated (97.21% shorts)

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper section shows a volume heatmap, while the lower section shows cumulative volume delta, or CVD. - The volume heatmap in the upper section tracks trading volume at each price level. The background becomes brighter when the price stays in a specific range for an extended period or makes a large move. Brighter zones may act as support or resistance. - The CVD indicator in the lower section reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color moves higher. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

Consumer confidence in the U.S. has fallen to a record low even as stocks continue to hit fresh highs, leaving Bitcoin sidelined in the process, according to on-chain analytics platform Glassnode. Consumer confidence is a measure of how optimistic or pessimistic consumers feel about overall economic conditions. Glassnode said weak consumer sentiment is pushing cash into stocks, particularly AI-related names, while BTC is being clearly overlooked in the current phase.

Crypto analyst Murphy said on X that the average entry prices of whale addresses holding more than 100 ETH are concentrated in the $1,900-$2,400 range. Murphy added that the average entry price was estimated at $1,900 for holders of 100 to 1,000 ETH, $2,000 for holders of 1,000 to 10,000 ETH, $2,100 for holders of 10,000 to 100,000 ETH, and $2,400 for holders of more than 100,000 ETH. Murphy said buying when ETH falls below $1,900 and pausing purchases above the $1,900-$2,400 range could be a reasonable risk-management strategy. Murphy added that the strategy has shown a very high success rate when used alongside extreme fear periods in which long-term holders' unrealized profit and loss falls below zero. While some argue the recent crypto market slump will prevent ETH from reclaiming $2,700, Murphy said excessive pessimism should be avoided.