Ethereum is once again outperforming Bitcoin, largely due to institutional interest.

Ethereum outperforms Bitcoin amid wave of institutional investment

Bakkt plans to convert a traditional Japanese firm into a Bitcoin investment 
vehicle. Marusho Hotta, a little-known Tokyo Stock Exchange company, is set 
for a radical makeover as Bakkt takes a 30% stake, installs its own CEO, and 
rebrands it…

Bakkt’s corporate Bitcoin play turns Marusho Hotta into crypto treasury hub

UK digital asset firm Vaultz Capital has purchased 47.85 BTC for £4.27 
million, increasing its corporate treasury holdings to approximately 117.85 
BTC worth over £10 million. Vaultz Adds More BTC to Its Corporate Stash The 
company, Vaultz Capital plc (AQSE: V3TC), explained on Wednesday that it paid 
an average price of £89,335.57 per bitcoin (approximately […]

Vaultz Capital Buys £4.3M Bitcoin, Treasury Hits 118 BTC

On-chain data shows Dogecoin whales have expanded their holdings recently, a 
sign that big-money investors are buying the dip. Dogecoin Whales Have 
Increased Holdings By 1 Billion DOGE In a new post on X, analyst Ali Martinez 
has talked about the latest trend in the Supply Distribution of the Dogecoin 
whales. The &#8220;Supply Distribution&#8221; here refers to an indicator from on-chain 
analytics firm Santiment that tells us about the total amount of the asset 
that a given wallet group is holding right now. Related Reading: Binance 
Inflows A Leading Indicator For Altcoins? Analyst Explains How Addresses or 
investors are divided into these cohorts based on the number of tokens that 
they are carrying in their balance. The 1 to 10 coins group, for example, 
includes all holders owning between 1 and 10 DOGE. In the context of the 
current topic, the whales are the cohort of interest. These investors are 
typically defined as holding more than 1 billion DOGE, with there being no 
upper end to the range. At the current exchange rate, the cutoff for the group 
converts to almost $200 million. Given the massive size of holdings involved, 
whales can carry some degree of influence in the market. This can make their 
on-chain behavior worth keeping an eye on. Now, here is the chart shared by 
the analyst that shows the trend in the Supply Distribution of Dogecoin whales 
over the past couple of months: As displayed in the above graph, Dogecoin 
investors carrying more than 1 billion DOGE saw their Supply Distribution 
plunge near the end of July, indicating that big-money entities exited from 
the market. What followed the selling was an extension of bearish price action 
for the asset. The mood among the whales appears to have turned around in the 
past day, however, as the indicator&#8217;s value has seen a sharp surge instead. 
&#8220;Whales bought over one billion Dogecoin $DOGE in the last 24 hours!&#8221; notes 
Martinez. Given the timing of the buys, it&#8217;s possible that these humongous 
investors believe the current lows to be offering a profitable entry point 
into the memecoin. It only remains to be seen, though, whether this bet would 
pay off for the whales. Related Reading: Bitcoin Top Buyers Aren’t Selling: 
$118,000+ Supply Remains Firm In some other news, memecoin Pepe (PEPE) has 
also seen a bullish development recently, as the analyst has pointed out in 
another X post. From the chart, it&#8217;s visible that Pepe&#8217;s 1-day price has 
finished a Tom Demark (TD) Sequential setup with nine red candles. Such a 
pattern is considered to be a buy signal. DOGE Price Following a drop of 
almost 8% over the past week, Dogecoin has seen its price withdraw under the 
$0.20 mark. Featured image from Dall-E, Santiment.net, charts from 
TradingView.com

Dogecoin Whales Buy The Dip: $1 Billion DOGE Added

Shares of Galaxy Digital faced a significant decline on Tuesday following the 
release of disappointing quarterly earnings and revenue figures. The crypto- 
investment and data-center company reported earnings per share of $0.8 for the 
second quarter, falling short of Wall Street&#8217;s consensus estimate of $0.18. 
Galaxy Digital Shares Plunge 10% Revenue for the period totaled $9.1 billion, 
markedly below analysts&#8217; expectations of $13.9 billion. Consequently, Galaxy&#8217;s 
stock, GLXY, plummeted by 10%, settling at $27.68. According to Barron’s, the 
downturn can be attributed to a broader trend affecting the cryptocurrency 
sector, where trading volumes have waned significantly since spring, pushing 
digital assets like Bitcoin to retrace 7% below its record price peak. Related 
Reading: Bitcoin Stuck In Macro Purgatory—Top Analyst Says Q4 Or Bust Galaxy 
reported a 22% decrease in digital-asset trading volumes from the first 
quarter, primarily driven by reduced spot-trading activity. The firm’s crypto 
sales, which represent its largest revenue stream, fell to $8.6 billion in the 
second quarter, down from $12.8 billion in the first quarter and $8.8 billion 
a year prior. Despite the disappointing earnings report, there was some 
positive news on the horizon. Galaxy announced that CoreWeave has committed to 
utilizing all the electrical power approved at its Helios data-center campus 
in West Texas, where construction is reportedly proceeding on schedule. 
Additionally, Galaxy has agreed to acquire an extra 160 acres of land and a 1 
gigawatt load interconnection request adjacent to the campus. CEO Mike 
Novogratz expressed optimism about the Helios project, stating, &#8220;Helios will 
be a top five data center in the world if we get that fully built out.&#8221; The 
company anticipates generating revenue from its data-center operations in the 
first half of 2026. In light of the CoreWeave announcement and the expanded 
capacity potential at Helios, Piper Sandler analyst Patrick Moley noted that 
shares might be undervalued, suggesting they should trade higher. The firm has 
rated Galaxy stock as Overweight, with a price target of $36. Coinbase Unveils 
$2 Billion Senior Notes Offering In related news, Coinbase Global also 
experienced a slight dip in its stock, which fell by 1% on Tuesday following 
the announcement of a $2 billion offering of convertible senior notes aimed at 
qualified institutional buyers. This offering includes $1 billion in notes 
maturing in 2029 and another $1 billion due in 2032. Additionally, initial 
purchasers will have the option to acquire up to $150 million more of each 
series. Related Reading: XRP Soars 35% in a Month: Will Ripple’s Legal Win and 
Whale Activity Send Price to New Highs? These notes will be senior, unsecured 
obligations with interest payable semi-annually, and they can be converted 
into cash, Class A common stock, or a combination of both at Coinbase’s 
discretion. To minimize potential dilution resulting from these conversions, 
Coinbase plans to engage in capped call transactions, partially funded by the 
proceeds from the offering. The remaining funds will be allocated to support 
general corporate needs, including working capital, capital expenditures, 
investments, acquisitions, and potential debt repurchases. Featured image from 
DALL-E, chart from TradingView.com

Galaxy Digital Stock Drop: Analyst Argues For Higher Valuation Despite Poor Earnings

Circle’s USDC accounted for 63% of salaries paid in crypto in 2024, outpacing 
USDt despite its trading dominance, according to Pantera’s global compensation 
survey.