House representatives agree to advance several key pieces of crypto legislation.

GENIUS Act clears House vote, stablecoin law could pass this week

Coinbase has taken a major step toward bringing everyday users onchain with 
the launch of the Base App, a new product that combines trading, social media, 
payments, and app discovery into a single platform. The announcement was made 
on July…

Coinbase unveils Base App, a new “everything app”  for social, payments, and trading

The rise in popularity of the Coinbase app is often seen as a sign of renewed 
retail interest, but there’s still debate whether retail has truly returned.

Retail waking up? Coinbase rockets to rank 137 in App Store

Coinbase is transforming its wallet into Base App, a crypto-native app 
combining social media, trading, payments, and mini-apps.

Coinbase Wallet is now Base app, a crypto ‘everything app'

Bitcoin (BTC) is currently stabilizing within the $116,000 to $120,000 range. 
However, fresh liquidity totalling $2 billion in stablecoins could help propel 
the flagship cryptocurrency to new all-time highs (ATHs). Bitcoin To Benefit 
From Fresh Liquidity According to a CryptoQuant Quicktake post by contributor 
Amr Taha, more than $2 billion worth of stablecoins &#8211; primarily Tether (USDT) 
&#8211; were deposited into major derivatives trading platforms earlier today. 
Related Reading: Bitcoin Profit-Taking Spikes Without Price Drop – Strong 
Demand Or Delayed Reaction? Taha believes that this surge in inflows signals 
increased appetite for leveraged positions among seasoned traders, many of 
whom are anticipating a potential breakout in BTC’s price. Notably, this fresh 
batch of USDT was minted by Tether Treasury, suggesting institutional demand 
is driving the activity. Historically, large-scale stablecoin inflows have 
preceded bullish market momentum, as traders often use them to open long 
positions on Bitcoin and altcoin futures and perpetual contracts. Rapid 
stablecoin deposits into derivatives exchanges often act as a leading 
indicator for major price rallies. Meanwhile, fellow CryptoQuant contributor 
TraderOasis pointed to rising Open Interest, noting that it is increasing 
alongside BTC’s price &#8211; a classic signal of strong bullish sentiment. To 
explain, rising open interest in tandem with a rising Bitcoin price typically 
signals increasing market participation and bullish sentiment, as more traders 
are opening positions expecting further upside. However, it can also indicate 
a buildup of leverage, which may lead to heightened volatility or a sharp 
correction if sentiment shifts. The analyst also highlighted the Coinbase 
Premium Index, which remains above zero &#8211; a sign that US-based buyers are 
paying a premium over global spot prices. They added that the indicator is 
currently within a ‘Breaker’ structure, sharing the following chart for 
context. TraderOasis noted that while BTC price is rising, the Coinbase 
Premium Index indicator has remained relatively flat. The analyst explained: 
This suggests to me that major players are taking profits. If the descending 
trend structure I marked with an arrow is broken, the price is likely to rise 
much more strongly. On the other hand, if the indicator drops below the &#8216;0&#8217; 
level, I may consider it a buying signal, as we are still in a macro bullish 
market. Short-Term Pullback For BTC? While the $2 billion stablecoin injection 
is likely to act as a bullish catalyst for BTC and the broader crypto market, 
some exchange data suggests a potential short-term pullback before the next 
leg up. Related Reading: No Mania Yet: Bitcoin ATH Lacks Hype, Suggesting 
Further Upside Potential For instance, BTC deposits to exchanges spiked after 
the digital asset hit a recent high around $123,000 &#8211; a pattern that often 
precedes local tops and is typically followed by a price correction. That 
said, despite recent profit-taking, BTC has not experienced a major price 
drop, pointing to robust underlying demand. At press time, BTC trades at 
$119,171, up 2.4% in the past 24 hours. Featured image from Unsplash, charts 
from CryptoQuant and TradingView.com

Bitcoin Set To Soar? Analyst Sees Fresh $2 Billion Liquidity Triggering Next Leg Up

US Spot Ether exchange-traded funds attracted $717 million of US investor 
money on Wednesday, and now hold more than 4% of ETH’s circulating supply.