MemeCore has surged 24.14%, confirming a breakout above a key range high. The move signals an active bullish Elliott Wave count with further upside in play if key levels hold. After trading sideways for weeks, MemeCore has now confirmed a…

MemeCore surges 24.14% with a bullish Elliott wave structure targeting $0.77

The GENIUS Act’s ban on yield could dampen the appeal of digital dollars, 
particularly as tokenization efforts in traditional finance gain momentum.

GENIUS Act scrutinized for stablecoin yield ban as TradFi tokenization gains steam

Bitcoin (BTC) is down 3.6% over the past week, falling from around $119,800 to 
the $114,500 range at the time of writing. This weakening price action is also 
reflected in spot Bitcoin exchange-traded funds (ETFs), most notably in 
BlackRock’s IBIT Bitcoin ETF, which saw over $2.6 billion in outflows on 
August 1. IBIT Bitcoin ETF Sees Massive Outflows According to a recent 
CryptoQuant Quicktake by contributor Amr Taha, BlackRock’s IBIT ETF recorded 
more than $2.6 billion in outflows on August 1 &#8211; the highest figure in the 
past two months across all listed Bitcoin ETFs. Taha highlighted that the 
sharp reversal in institutional demand for Bitcoin ETFs comes after several 
weeks of positive inflows, and indicates a growing sense of caution among ETF 
investors. Data from SoSoValue confirms the trend. Related Reading: Bitcoin 
Sees Rising New Investor Dominance, Old Holders Yet To Capitulate For the week 
ending August 1, US-based spot Bitcoin ETFs recorded a net outflow of $643 
million. This marked the end of a seven-week streak of positive inflows, which 
had totaled more than $10 billion. Another important point is that the $2.6 
billion outflow from BlackRock’s IBIT ETF was not mirrored by other ETFs. 
Analyst Taha also identified a correlation between IBIT outflows and Binance- 
origin USDT transfers on the Tron network. In his analysis, the CryptoQuant 
contributor noted that alongside the IBIT outflows, USDT transfers on Tron 
from Binance fell from approximately $2 billion to $1.3 billion &#8211; a sharp 35% 
decline. Taha added: The timing strongly suggests a link between the ETF- 
driven selling pressure and the accelerated pace of stablecoin withdrawal via 
Tron, a blockchain renowned for fast and cost-efficient transactions. Tron 
network&#8217;s low fees and speed make it a preferred blockchain for both retail 
and institutional stablecoin transfers. Therefore, a drop in USDT transfers 
from Binance &#8211; occurring in tandem with IBIT outflows &#8211; suggests that 
institutional interest in BTC may be temporarily cooling off. Recent on-chain 
data shows Binance continues to lead other exchanges such as OKX, HTX, and 
KuCoin in terms of Tron-based USDT transfers. As a result, Binance volume 
trends often serve as a reliable indicator of investor sentiment shifts. Fresh 
Data Presents Mixed Forecasts Beyond weakening ETF demand, new exchange data 
signals potential headwinds for Bitcoin in the near term. For example, 
Binance’s net taker volume dropped to -$160 million last week, indicating 
increased sell-side activity. Related Reading: Bitcoin Overheating Signals 
Easing – Is A Second-Half Rally Ahead? From a technical standpoint, things 
appear less than optimistic. Crypto analyst Josh Olszewicz recently predicted 
that BTC could remain range-bound until October 2025. Still, not all signs are 
bearish. A recent report from CoinShares estimates that Bitcoin could rise to 
$189,000 if it captures just 2% of global M2 money supply or 5% of gold’s 
market cap. At press time, BTC trades at $114,494, up 0.3% in the past 24 
hours. Featured image from Unsplash, charts from CryptoQuant and 
TradingView.com

Bitcoin ETF Market Flashes Warning: IBIT Outflows Paired With Drop In Tron USDT Transfers

Ethereum’s strategic reserves and ETF stashes are throwing some serious heft 
around the market right now. Data from strategicethreserve.xyz shows these 
reserves sitting on 2.96 million ETH—valued at roughly $10.8 billion—spread 
among 63 participants, locking away close to 2.45% of the entire supply. 
$10.8B in Ethereum Locked Away — Here’s Who Holds the Keys Loading […]

Inside the Ether Treasury Vaults: Who’s Hoarding Billions in Ethereum?

Blockchain and robotics may soon come together after OpenMind raised $20 
million.

Pantera backs $20m raise for decentralized OS for robots

Alpen Labs launched its public testnet on Monday, advancing efforts to build a 
native financial system directly on the Bitcoin blockchain. Bitcoin ZK-Rollup 
Testnet Goes Live With EVM Compatibility According to the Alpen Labs release 
shared with Bitcoin.com News, the testnet allows developers to experiment with 
Bitcoin-based financial applications previously confined to centralized 
services or […]