Kategorie: Crypto Markets

• US spot Ethereum exchange-traded funds (ETFs) attracted $523.9 million in net inflows on Tuesday.
• BlackRock’s ETHA led with $318.67 million in net inflows, followed by Fidelity’s FETH at $144.9 million.
• Ether has also seen significant price appreciation, rising 8.5% in the past 24 hours to trade at $4,667.

US spot Ethereum exchange-traded funds (ETFs) attracted $523.9 million in net inflows on Tuesday, according to data from SoSoValue.

The flows came a day after the funds recorded their largest single-day net inflow to date at $1.02 billion.

Six of the nine ether ETFs posted positive flows for the session.

BlackRock’s ETHA led with $318.67 million in net inflows, followed by Fidelity’s FETH at $144.9 million. Grayscale’s Mini Ether Trust reported $44.25 million in net inflows for the day.

This marks the sixth consecutive day of positive flows for ether ETFs, bringing total inflows over the period to $2.33 billion.

Collectively, spot ETH ETFs now hold $27.6 billion in net assets, representing about 4.8% of Ethereum’s total market capitalization.

Shift from Bitcoin to Ether products

Nate Geraci, president of NovaDius Wealth, said the recent momentum in Ether ETFs reflects a shift from Bitcoin ETFs, which dominated inflows last year and earlier in 2025.

On Tuesday, spot Bitcoin ETFs recorded net inflows of $65.9 million.

Another half bil into spot eth ETFs…

5th best day since launch.

Now $2.3bil over past 5 trading days.

Since beginning of July, spot eth ETFs have taken in nearly $1.5bil more than spot btc ETFs.

Notable shift.

— Nate Geraci (@NateGeraci) August 13, 2025

Geraci said Ether ETFs may have been underestimated by traditional finance investors who previously did not fully understand Ethereum’s role.

He noted that the narrative around Ethereum as a potential backbone of future financial markets appears to be resonating with investors.

Ethereum price outlook

Ether has also seen significant price appreciation, rising 8.5% in the past 24 hours to trade at $4,667, nearing its record high of $4,878.26 set in November 2021.

Market participants are assessing the potential for further gains.

Crypto trader Yashasedu said historical trends show Ether tends to reach 30% to 35% of Bitcoin’s market capitalisation during major bull runs.

In 2021, Ether reached 36% of Bitcoin’s market cap.

If Bitcoin reaches $150,000, a 25% increase from its current price of $119,335, Yashasedu estimated Ether could climb to $8,656 if it reaches 35% of Bitcoin’s market capitalisation.

At the lower end of projections, Ether could trade between $5,376 and $7,420 based on a 21.7% to 30% market cap ratio.

Several industry figures expect Bitcoin to surpass $150,000 by year-end.

Fundstrat co-founder Tom Lee, BitMEX co-founder Arthur Hayes, and Unchained market research director Joe Burnett have all forecast that Bitcoin could rise as high as $250,000 by the end of 2025.

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• Breakout from a seven-year double-bottom pattern confirmed.
• 95% probability of spot ETF approval influencing sentiment.
• XRP Ledger market cap-to-TVL ratio stands at about 2,200.

XRP has surged more than 550% since November, climbing above $3 on Tuesday, and sparking discussions in the crypto market about its next potential milestone.

Technical analyst Gert van Lagen has pointed to a long-term chart pattern suggesting the token could rise to $34 by mid-2026.

This projection is based on the completion of a multi-year double-bottom structure, a bullish pattern often followed by substantial price moves.

Historical precedents, recent legal developments, and strong ETF approval expectations are also influencing investor sentiment, although on-chain metrics point to valuation risks that could temper the rally.

XRP is now trading at $3.19, down by 0.79% in the past 24 hours.

Technical breakout points to a multi-year rally

According to Van Lagen, XRP has broken out of a seven-year double-bottom pattern after pushing above the neckline resistance near $1.80.

The breakout was followed by a retest of the neckline, which acted as support.

In technical analysis, such a retest is often interpreted as confirmation of a strong breakout.

Using a 2.00 Fibonacci extension, the measured-move projection from this setup points to a target of $34 by mid-2026.

This setup resembles XRP’s 2014–2017 price action, when a similar long-term base led to a parabolic rally of over 100,000%.

XRP’s markets have seen multiple instances of large gains, including a 1,072% rise from the 2022 lows and a 1,625% surge during the 2020–2021 cycle.

Market drivers boosting XRP’s rally

The 2020–21 rally coincided with near-zero interest rates in the US, while the current gains have been driven by developments in the Ripple lawsuit, improved legal clarity, exchange relistings, and optimism for a spot XRP exchange-traded fund (ETF).

In 2025, market sentiment has been particularly influenced by forecasts indicating a 95% probability of spot ETF approval.

Analysts suggest that if an approval comes through, XRP could climb toward $27, bringing it close to Van Lagen’s target.

The ETF narrative has helped maintain bullish momentum this year, with traders factoring in the potential influx of institutional capital.

In past cycles, major inflows often occurred when regulatory milestones were reached, creating strong short-term surges.

Onchain metrics signal overvaluation risks

Despite the strong rally, onchain data highlights concerns.

XRP Ledger (XRPL), the blockchain underpinning XRP, shows much lower activity levels than other major layer 1 blockchains, including Ethereum.

Data from DefiLlama indicates that while XRP has a market capitalisation of $190 billion, its total value locked (TVL) stands at just $85 million — a ratio of about 2,200.

By comparison, Ethereum’s ratio is around 5.6, even though XRP’s market value is nearly 40% of Ethereum’s.

Another potential challenge is that over 95% of XRP’s circulating supply is currently in profit, according to Glassnode.

Historical data shows that in previous rallies, such a level of profitability often preceded significant price corrections, as profit-taking intensified and selling pressure mounted.

This trend was observed during the 2020–21 and 2022–25 cycles, when similar conditions led to pullbacks.

While technical patterns and market drivers are currently supporting XRP’s bullish case, the imbalance between valuation and onchain activity, coupled with elevated profit-taking potential, suggests that sustaining a rally toward $30 and beyond may face strong resistance.

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• Circle launches Arc blockchain with USDC as native gas token.
• Circle’s Q2 revenue up 53% to $658M, but $482M net loss reported.
• USDC supply has surged to $65.6B, including $250 million minted.

Circle, the issuer of the USDC stablecoin, has announced the launch of its own layer-1 blockchain, Arc, even as it posted strong revenue growth alongside a hefty quarterly loss.

The move marks a major step in the company’s ambition to become a full-stack platform for digital finance, while also highlighting the financial challenges of its first earnings report since going public.

Circle’s Q2 revenue rises, but losses deepen

In its second-quarter 2025 results released Tuesday, Circle reported a 53% year-over-year increase in total revenue and reserve income, reaching $658 million.

The revenue growth was fueled by a surge in USDC adoption, expanding subscription service revenues, and increased activity across decentralised finance platforms.

Despite the revenue jump, Circle posted a $482 million net loss for the quarter.

The company attributed this to one-time, non-cash expenses linked to its blockbuster IPO earlier this year, including $424 million in stock-based compensation and a $167 million revaluation of convertible debt.

Adjusted EBITDA rose 52% to $126 million, showing operational strength despite the headline loss.

Arc Blockchain aims to redefine stablecoin finance

The company’s newly announced Arc blockchain will be compatible with the Ethereum Virtual Machine (EVM) and use USDC as its native gas token.

This means users will be able to pay transaction fees directly with the stablecoin, a move aimed at streamlining on-chain payments and lowering friction for institutional and retail users.

Arc is designed for high-performance financial applications, with sub-second settlement, an integrated stablecoin foreign exchange engine, and opt-in privacy controls.

Circle says the network will be fully integrated into its existing platform while remaining interoperable with the 24 other partner blockchains where USDC already operates.

USDC stablecoin market share keeps climbing

USDC’s market capitalisation stood at $65.6 billion at the time of the announcement, with $42.6 billion of that supply on Ethereum, according to a recent report by Circle.

Circle has revealed that USDC circulation grew 90% year-over-year to $61.3 billion by the end of Q2 and has since climbed further to $65.2 billion as of August 10.

We just reported our Q2 2025 earnings, our first as a publicly traded company.

USDC in circulation reached $61.3B at the end of Q2, up 90% YoY, with $5.9T in onchain volume during Q2.

Read the results here: https://t.co/a6fwiWoTNK pic.twitter.com/lgTOOTIEAq

— Circle (@circle) August 12, 2025

Adding to this momentum, Whale Alert recently flagged a $250 million USDC mint at the USDC Treasury.

Such large-scale issuance often points to increasing demand from both institutions and retail investors, injecting liquidity into exchanges and DeFi protocols.

This influx of capital can serve as a catalyst for trading activity and broader market growth.

Circle’s strategic positioning in a competitive sector

By launching Arc, Circle is positioning itself to capture more of the stablecoin-powered payments and capital markets segment.

The combination of its growing USDC supply and an in-house blockchain tailored for financial use cases could strengthen its influence in the global digital asset ecosystem.

The expansion also underscores Circle’s long-term bet that stablecoins will become a backbone of international finance.

With clear regulatory momentum in key jurisdictions and growing adoption of digital dollars, the company is seeking to leverage its brand trust and market presence into a deeper role in global transactions.

However, the sizable Q2 loss serves as a reminder of the costs of scaling in a competitive and highly regulated industry.

As Arc heads toward public testnet later this year, traders and institutions will be watching closely to see whether Circle can turn its strong revenue growth into sustained profitability, while cementing USDC’s position at the heart of digital finance.

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• Bitcoin Cash price is near $590 having touched highs above $604 in the past 24 hours.
• While BCH is a mere 1% in 24 hours at the time of writing, it’s 18% higher in 30 days.
• Bitcoin Cash could break above critical resistance and eye the $1,000 level.

Bitcoin Cash (BCH) is not one of the flashy performers in the crypto market, with the coins’ 18% uptick in the past month small compared to peers in the top 100 cryptocurrencies by market cap.

However, as Ethereum makes headlines as it approaches its all-time high, Bitcoin Cash is also hovering around a critical resistance level having tested the $600 level.

This charge, fueled by a remarkable 30% surge in daily trading volume, could see BCH eye further gains towards the $1,000 mark. But what’s the technical outlook?

Bitcoin Cash retests key price level

The price of Bitcoin Cash is currently retesting a pivotal resistance zone, with its price hovering around the $600 mark.

Over the past 24 hours, BCH has touched highs of $601 across major exchanges, and shows resilience with prices remaining above $590 and ticking to highs near the July peak of $604.

The jump to $600 represents a notable move for BCH, as this allows buyers to test the upper boundary of a sell wall that has previously seen bears emerge strongly.

Notably, the 30% spike in trading volume speaks to the increased market activity, suggesting traders may be positioning for a potential breakout.

What’s next for BCH price: Can bulls reclaim $1,000 in 2025?

BCH price reached highs of $624 in December 2024 and last traded above $1,000 in 2021.

Looking at the technical picture for Bitcoin Cash, the overall outlook is optimistic, with bulls setting their sights on flipping $600 into a robust support level.

From here, a potential climb towards $1,000 is possible. In the short term, the supply wall is around $680 and $764 and above this, a flip to $1k and over will be more likely.

The broader market sentiment, with Fear & Greed Index trending in the “Greed,” zone, adds to this outlook.

BCH’s technical indicators also align with a bullish trend. Increased adoption that has investors buoyed amid favorable macroeconomic conditions, gives this altcoin a good chance of continuing higher.

However, traders may yet trade cautiously as profit taking a dump for major altcoins could dampen broader sentiment.

The upcoming inflation data, with Bitcoin’s correlation with stocks tight, could mean either a sharp surge or notable dump.

“BTC ’s correlation with equities has tightened since mid-July, mirroring US stocks’ rebound to near record highs. Attention now shifts to Tuesday’s CPI, expected to rise 10 bps to 2.8%,” analysts at QCP noted. “A softer CPI could cement odds of a September Fed cut, while a hotter print risks stalling the rally. Traders are hedging with demand for short-dated $BTC puts in the $115k–$118k range.”

The price of Bitcoin hovers around $118,500, while BCH trades near $590.

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• Fenwick & West accused of enabling FTX’s $8B customer fund theft.
• The law firm is accused of designing fraud-friendly corporate structures.
• Fenwick & West denies wrongdoing, says actions were within legal scope.

The legal fallout from the spectacular collapse of cryptocurrency exchange FTX has now zeroed in on the Fenwick & West law firm.

Plaintiffs in a massive class action are accusing Silicon Valley-based law firm of being far more than a bystander in the $8 billion fraud that brought down Sam Bankman-Fried’s empire.

The plaintiffs allege that the prestigious firm not only knew about FTX’s misconduct but also actively shaped the structures that made it possible.

Spotlight on the Fenwick & West law firm

The class action, filed on Monday, is part of a multi-district litigation involving more than 130 firms linked to FTX, and it singles out Fenwick & West as the only one accused of knowingly participating in the fraud.

Plaintiffs say new evidence from Bankman-Fried’s criminal trial and the bankruptcy investigation reveals the firm played a “key and crucial” role in the exchange’s operations.

According to them, FTX’s massive misappropriation of customer funds could not have happened without Fenwick’s “substantial assistance.”

Court filings claim the firm designed corporate entities with no safeguards, enabling FTX to divert billions in customer assets to its sister trading firm Alameda Research.

Among the most controversial allegations is that Fenwick set up shell companies such as North Dimension to obscure transactions, drafted backdated agreements to justify illicit transfers, and approved intercompany loans secured by customer funds.

Claims of concealment and obstruction

Prosecutors and bankruptcy examiners have accused FTX executives of using disappearing messages on Signal to cover their tracks.

Plaintiffs now allege that Fenwick itself authored the encrypted communications policy that allowed those messages to vanish.

The firm is also accused of creating auto-deleting chat channels for executives and engaging in other practices that regulators later described as obstruction.

Nishad Singh, FTX’s former engineering director, testified that he personally informed Fenwick about the misuse of customer funds and false disclosures. He claims the firm responded not with warnings but with guidance on how to hide the wrongdoing.

Similar testimony from former Alameda CEO Caroline Ellison and co-founder Gary Wang supported the narrative that Fenwick was aware of the diversion of funds to cover Alameda’s losses.

Examiner’s findings raise the stakes

The independent examiner in the FTX bankruptcy case reviewed more than 200,000 documents, many directly related to the Fenwick & West law firm.

The examiner’s report concluded the firm was “deeply intertwined” in nearly every aspect of FTX’s misconduct. It also described “exceptionally close relationships” between Fenwick’s lawyers and FTX insiders, alongside evidence of the firm facilitating conflicted transactions that misused customer assets.

These findings have intensified scrutiny on the firm’s role in promoting FTX’s credibility to investors.

Plaintiffs argue Fenwick’s Silicon Valley reputation helped the exchange raise more than $1.3 billion from venture capitalists, despite internal knowledge of insolvency risks.

The amended complaint also adds state securities law claims in Florida and California, accusing Fenwick of promoting and facilitating unregistered sales of FTT tokens and yield-bearing accounts.

Fenwick & West denies wrongdoing

The Fenwick & West law firm has consistently denied all allegations, insisting it acted within the scope of its legal representation.

In its 2023 motion to dismiss, the firm argued that attorneys cannot be held liable for a client’s misconduct when their actions fall within their professional role.

The court has yet to rule on Fenwick’s latest bid to have the claims thrown out, and a request from plaintiffs to amend their complaint with fresh evidence is pending before US District Judge K. Michael Moore in Miami.

As the litigation unfolds, the case is being watched closely by the legal and crypto industries alike.

A ruling against the Fenwick & West law firm could set a precedent for attorney liability in the digital asset space, reshaping how law firms approach high-risk clients.

For FTX’s creditors, the outcome could influence how much more, if anything, can be recovered from the wreckage of one of the largest financial collapses in US history.

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