BlackRock’s IBIT outflowed $292 million on Monday as Bitcoin continued to recover from weekend volatility.

BlackRock Bitcoin fund sees largest outflow in 9 weeks

The Philippines SEC flagged OKX, Bybit, KuCoin and others for offering crypto 
services without authorization, warning of enforcement and app store bans.

Philippines SEC cracks down on unregistered crypto exchanges

Ethereum is trading at $3,667 at press time, rising 4% in the past 24 hours 
and indicating renewed interest after a sharp drop earlier in the week. 
Ethereum (ETH) is still up 46% over the past month, showing strong momentum,…

Ethereum holds above key support as Binance open interest hits record high — will ETH rally intensify?

An independent market analyst who tracks on-chain order-flow data says South 
Korea’s Upbit exchange may now wield outsized influence over the spot price of 
XRP, the world’s fifth-largest crypto-asset by market capitalization. In a 
series of posts on X, the trader known as “Dom” (@traderview2) published a 
chart of cumulative-volume-delta (CVD) across eight venues that appears to 
show Korean selling pressure easing just as the token found a local bottom. Is 
Upbit In Control Of The XRP Price? “Korean market Upbit may actually control 
the price of XRP more than we think. Right when they stopped their selling 
pressure, we bottomed, despite Binance continuing its selling,” Dom wrote, 
adding that the market has “slowly staircased up since, with a potential TWAP 
happening on Coinbase (nearly 15 M $XRP accumulated since).” The 48-hour 
chart, covering 2–4 August, plots the net market buys and sells on Binance, 
Coinbase, Bybit, OKX, Kraken, Bitstamp and Upbit against XRP’s average spot 
price. While Binance’s CVD line (green) continued to grind lower—signalling 
sustained net selling—Upbit’s purple line flattened after an aggressive draw- 
down of roughly 35 million XRP. The inflection coincided with a reversal in 
the grey price line, suggesting that waning Korean offers may have removed the 
largest headwind even as Binance sellers pressed on. Related Reading: XRP MVRV 
Flashes Death Cross: More Decline Ahead? Dom’s thesis is not new. Since April 
he has repeatedly flagged what he calls “absurd size” flows on XRP/KRW at 
Upbit. On 6 May he noted –220 million XRP net sold since 11 April, equating to 
more than $500 million at the time. On 2 August he said Upbit had market-sold 
40 million XRP in 24 hours, more than “all other venues combined.” Earlier 
snapshots on 6 and 16 April recorded 50 million and 30 million XRP of net 
selling respectively, with sell-side market orders accounting for over half of 
all prints. Related Reading: Market Cap Not A Hindrance To XRP Price Reaching 
$1,000, Expert Explains Why Those figures matter because Upbit has evolved 
into one of the world’s deepest spot venues. Last month the Seoul-based 
platform processed $110.2 billion in volume—6.4 percent of global exchange 
turnover—ranking fourth behind Binance, Bitget and Bybit. Within its own order 
books, XRP often eclipses Bitcoin: CoinMarketCap data shows the XRP/KRW pair 
captured 24 percent of Upbit’s entire 24-hour volume (followed by ETH with 
14.1% and BTC with 6.3%), translating to $444 million. While the data cannot 
establish causality, the pattern underscores what several liquidity-providers 
have observed since 2023: regional exchanges can dominate individual asset 
flows even when their share of total crypto activity appears modest. South- 
Korean retail enthusiasm for XRP already nurtured during the 2017 bull cycle 
and continues to funnel disproportionate size into the KRW market in this 
cycle as well. When that flow turns—as Dom’s dashboard shows—the global price 
seems to notice. At press time, XRP changed hands at $3.05, up 4.8% in the 
past 24 hours. Featured image created with DALL.E, chart from TradingView.com

XRP Price May Be ‘Controlled’ By This Market, Says Analyst

The commissioner was fired after a weaker-than-expected July jobs report, 
which also contained significant downward revisions for the two months prior. 
McEntarfer Out: Trump Gives the Boot to Labor Statistics Commissioner U.S. 
President Donald Trump wasted no time firing Bureau of Labor Statistics 
Commissioner (BLS) Erika McEntarfer on Friday after a disappointing jobs 
report sent […]

Trump Fires Commissioner of Labor Statistics Erika McEntarfer

Ethereum rallied past $3,700 earlier on Aug. 5 as whale and institutional 
accumulation intensified. Can it recover back above $3,800 by the end of the 
week? According to data from crypto.news Ethereum (ETH), the leading altcoin 
by market cap, rose…