News & Research

Hong Kong-listed asset manager DL Holdings saw its shares fall over 8% after announcing plans to raise HK$653.3 million ($83.2 million) through share placements, according to The Block. The proceeds will fund blockchain initiatives including asset tokenization, Bitcoin mining, stablecoin development and crypto trading license acquisition in Hong Kong.

Short-term Bitcoin (BTC) holders have accumulated 178,000 BTC ($20 billion), over the past 40 days, according to CryptoQuant analyst Axel Adler Jr. on X. The increase reflects heightened activity among investors holding BTC for less than 155 days.

UK-based oil and gas companies Union Jack Oil and Reabold Resources plan to mine Bitcoin (BTC) at West Newton using stranded natural gas, according to NLNico (@btcNLNico) on X. Union Jack sees this as part of a BTC treasury strategy, while Reabold views mining as more profitable than direct purchases.

A bullish pennant pattern has formed on the ETH/USDT daily chart, signaling potential upward momentum, Watcher Guru reported. Crypto analyst Titan of Crypto said the pattern suggests a target price of around $5,000. A bull pennant typically forms after a sharp rise, followed by a period of consolidation near the highs and may lead to a strong rally upon breakout.

The Financial Intelligence Unit (FIU) under South Korea’s Financial Services Commission (FSC) has identified unregistered overseas crypto exchanges KCEX and QXALX as operating illegally and reported them to law enforcement, according to Yonhap News. The FIU also plans to block access to their websites and mobile apps within the country.

Crypto trading bot scams using aged YouTube accounts related to crypto news and investment advice have been recently on the rise, Cointelegraph reported, citing a report by cybersecurity firm SentinelLABS. Since last year, scams involving promoting crypto trading robots through YouTube videos and stealing users' crypto assets have been rampant, resulting in a collective loss of 256 ETH. “To defend against these types of scams, crypto traders are advised to avoid deploying code shilled through influencer videos or social media posts, particularly if it’s offering a way to make money fast,” said Alex Delamottea, a senior threat researcher with SentinelLABS.

Bill Gross, co-founder of investment management firm PIMCO and known as Wall Street’s “Bond King,” said GameStop (GME) now resembles Bitcoin (BTC) more than a meme stock due to declining volatility and a price pattern similar to BTC, Crypto Briefing reported. In an interview with Business Insider, he noted that GME has traded between $20 and $35 over the past year, mirroring BTC’s price movements and contrasting sharply with its 2021 surge from $1 in 2020 to $121 in January 2021.

Bitcoin’s 30-day implied volatility has declined to 36.5%, the lowest level since Oct. 2023, as the price hovers between $110,000 and $120,000, according to CoinDesk, citing data from volatility index provider Volmex Labs. The drop reflects reduced hedging activity despite concerns about potential stagflation in the U.S. economy. The outlet added that while Bitcoin’s price and volatility were previously positively correlated, recent trends show a negative correlation, a pattern more typical of bullish phases in U.S. equity markets.

Here is the breakdown of crypto perpetual futures liquidation over the last 24 hours. - ETH: $60.27 million, Short 62.65% - BTC: $22.29 million, Short 75.45% - MYX: $13.13 million, Short 66.58%

U.S. spot Ethereum ETFs recorded a combined net inflow of $34.15 million on Aug. 6, marking the second consecutive trading day of net inflows, according to data shared by Trader T. BlackRock’s ETHA led with $32.41 million in inflows, followed by Grayscale’s ETHE ($10.04 million) and ARK 21Shares’ CETH ($0.37 million). In contrast, Grayscale’s mini ETH saw a net outflow of $8.67 million. The remaining ETFs reported no change in their holdings for the day.