Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On-chain data shows the 7-day average Bitcoin Hashrate has shot up to a new all-time high (ATH) despite network Difficulty being at a record level.

Bitcoin Mining Hashrate Has Seen A Sharp Increase Recently

The “Hashrate” refers to a Bitcoin indicator that keeps track of the total amount of computing power that the miners as a whole have connected to the BTC blockchain. The metric is useful for gauging the sentiment among these chain validators.

When the value of the Hashrate goes up, it means new miners are joining the network and/or old ones are expanding their farms. Such a trend implies BTC mining is looking profitable to this cohort.

On the other hand, the indicator witnessing a decline suggests some of the miners have decided to pull out of the chain, potentially because they are no longer able to pay off electricity bills.

Now, here is a chart from Blockchain.com that shows how the 7-day average Bitcoin Hashrate has changed over the past year:

Looks like the value of the metric has shot up in recent days | Source: Blockchain.com

As displayed in the above graph, the 7-day average Bitcoin Hashrate has seen a sharp surge recently and has set a new all-time high (ATH) of around 1.03 zettahashes per second (ZH/s). This increase in the metric has come as the price of the cryptocurrency has made some recovery.

Miners depend on the asset’s price for their revenue, so bullish price action allows them to expand. Though, while price conditions may have been favorable in the past week, another factor hasn’t been. Namely, the Difficulty.

The Difficulty is a feature built into the Bitcoin blockchain that controls how hard the miners would find their task of BTC mining on the network right now. This metric’s value automatically changes about every two weeks based on network conditions.

More specifically, the Difficulty adjusts according to whether the miners have been slower or faster than the network target rate of 10 minutes per block. The chain ups the metric if miners are going through the average block in less than 10 minutes, while it lowers it if the validators aren’t able to keep pace.

Prior to the latest adjustment, Bitcoin miners were aggressively expanding their Hashrate, becoming significantly faster than the network wants them to be. The chain responded with a notable Difficulty increase that took the metric to a new record of 136.04 terahashes, as data from CoinWarz shows.

The Difficulty adjustments that have occurred over the last three months | Source: CoinWarz

Difficulty increases can squeeze the revenue of the most vulnerable miners, so Hashrate often dips following them. And indeed, the same occurred after the latest adjustment as well, but the drop was temporary.

Thus, it would appear that the spike in Difficulty hasn’t been able to scare away the Bitcoin miners this time.

BTC Price

At the time of writing, Bitcoin is floating around $116,400, up almost 5% in the last seven days.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView

Featured image from Dall-E, CoinWarz.com, Blockchain.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

The price of the Ondo Finance token increased 12% over the last 24 hours to reach $1.13 on September 12, 2025. The rally follows massive hype, centering on tokenized US stocks and ETFs launched through Ondo Global Markets.

Surge is positioned as a leader in the booming real-world assets (RWA) sector, bringing it into the spotlight when facility partnerships grow and traders surpass their year-end price targets.

24 hours7d1Y

Discover: 9+ Best High Risk, High Reward Crypto Buy in 2025

Ondo Finance: The forefront of real-world assets

Ondo is once again proving his worth with the launch of his global market platform on September 3, 2025. In just nine days, the platform has surpassed $160 million on TVL, adding $30 million over the past 24 hours alone.

This explosive growth has bolstered Ondo as a #1 platform that tokenizes US stocks and ETFs, much slower than competitors like Xstocks ($62 million TVL).

(Source – dune.com)

The global market allows non-US investors to access over 100 US stocks and ETFs, including funds such as Apple, Nvidia, and QQQ.

This removes barriers such as high rates and geographical restrictions, opening the door for investors around the world to directly leverage US financial markets through blockchain technology.

(Source – app.ondo.finance)

Recent developments, such as the partnership between Ondo and Ledger, have made seamless trading and storage of these tokenized assets possible directly within Ledger Live. This move significantly improves the user’s experience while enhancing security through the original LEDGER’s independent hardware solution.

Ondo is also strategically expanding its ecosystem by acquiring companies such as Oasis Pro and launching the Ondo Catalyst Fund at Pantera Capital.

$ ondo With the launch of Ondo Global Markets, today we are making history

Over 100 tokenized stocks and ETFs will be live on Ethereum.

This allows you to rebuild and press RWAS $ ondo Heading towards a new high.

The next thing is pic.twitter.com/hcp5dc1k4e

– Our Cryptotalk (@ourcryptotalk) September 3, 2025

With the integration of BNB chains and Solana planned later this year, Ondo is expanding its scope across major ecosystems. Growing speculations about future revenue sharing dynamics, such as buybacks and burns, evolve it into cash flow generating assets, driving a highly bullish long-term growth narrative.

Discovered: 20+ Next Cryptocurrency Exploding in 2025

ONDO Finance Price Action and the momentum of the bullish crypto market

ondo ▲6.05%The recent surge in 2018 is supported not only by basics, but also by strong technical momentum and overall bullish sentiment in the crypto market as a whole. Over the past 24 hours, Ondo’s trading volume has skyrocketed to $500 million, indicating a flood of new participants entering the market.

(Source – coingecko.com)

Tokens have recently erupted from a downward bullish pattern supported by increased volume and new, fundamentally powerful features.

The next zone is the price mark of $1.10. This has been tested three times before. The more one resistance is tested, the weaker it becomes and eventually it will surge to the next one. That’s about $1.6, and even the $2.5 that traders want.

(Source – tradingView.com)

The overall crypto market also plays a major role in the Ondo Finance push at this price. As Bitcoin continues to maintain positive macroeconomic data on risk assets, it is expected to develop further on ONDO price.

Capital will turn into high-risk, high-reed assets. In particular, in the RWA story, players from agencies like Fidelity and JP Morgan have entered the space through partnerships with Ondo and others.

Emerging markets are also fostering adoption, especially after Ondo was added to Indonesia’s legal cryptography list on September 1st. As Asia leads crypto rates, Ondo can gain some significant liquidity that will raise prices even further.

Overall, the powerful ONDO trends can definitely shoot prices below $2.5 or even make them even higher.

Discovered: Top Solanamime Coins to Buy in 2025

For the latest market updates, please join us in the discrepancy in 99bitcoins news here

Key takeout

Why you can trust 99 Bitcoin?

Over 10 years

Founded in 2013, 99 Bitcoin team members have been experts in crypto since the early days of Bitcoin.

90 hours+

Weekly research

100k+

Monthly Readers

50+

Expert Contributors

2000+

Crypto project reviewed

Follow 99 Bitcoin on Google News Feed

Provide the latest updates, trends and insights directly to your fingertips. Subscribe now!

Subscribe now

GameStop is making big moves. The video game retailer reported a narrower loss for Q2, and it’s all thanks to a bold new Bitcoin strategy.

While revenue still dipped a bit, the company’s holdings of 4710 $BTC gave its balance sheet a massive boost with a valuation of over half a billion dollars. This is a shift in how GameStop operates.

Under Chairman Ryan Cohen, the company is reshaping its entire financial playbook. They’ve sold off international units and raised cash through a big bond sale, and now they’re joining a small yet growing club of publicly traded companies that have diversified into digital assets.

To reward investors and strengthen its position, GameStop announced a unique dividend in the form of warrants. For every 10 shares of GME stock, an investor will receive one warrant. Each warrant allows the holder to purchase one share of common stock for $32 at any time until the warrants expire on October 30, 2026.

With the current price being around $23.59, the dividend is a discount coupon for long-term investors, offering a big incentive if the stock price rises to above $32. It’s a clever strategy to incentivize long-term holding.

The market loves it too, as GameStop shares saw a nice little bump after the news broke. The strategy change is just the injection to bring GameStop into the modern world, just like Bitcoin Hyper ($HYPER) plans to do for $BTC by addressing its long-standing flaws.

The Wild West of Crypto Stock

The impact of corporate crypto holdings extends beyond established companies like GameStop. The market saw an even more dramatic example with QMMM Holdings, a Hong Kong-based media company.

They announced a pivot to blockchain and AI, revealing a plan to build a $100M crypto treasury, and its stock went wild. Shares surged an unbelievable 2300% in one day.

But as quickly as it rose, it came crashing back down, dropping nearly 50% in after-hours trading. This shows the high-risk, high-reward nature of these investments.

While QMMM’s stock eventually settled, its volatility shows that for some companies, a crypto announcement is less about a steady strategy and more about a speculative gamble.

The Missing Link: Bitcoin’s Hyperdrive

It’s safe to say the corporate world has finally woken up to $BTC, but if we’re being real, Bitcoin isn’t really built for speed. That’s where Bitcoin Hyper ($HYPER) comes in. It’s a revolutionary Layer-2 solution designed by developers to address $BTC’s biggest challenges: speed and a lack of smart contract functionality.

Bitcoin is the main power grid, secure and reliable, but developers didn’t design it to power every appliance in the house. Bitcoin Hyper ($HYPER) is the smart power strip that plugs into the grid but allows you to run everything without overloading the main circuit.

By leveraging the Solana Virtual Machine (SVM), $HYPER promises to bring blazing-fast transactions and dirt-cheap fees to the Bitcoin ecosystem. It’s unlocking new potential, enabling $BTC to be used for DeFi, NFTs, and dApps without the frustrating delays and high costs.

$HYPER’s taking Bitcoin from a static store to a dynamic usable asset.

Grab Your Ticket to the Future

Beyond the core tech, holding the $HYPER token offers tangible benefits. The Layer-2 network will use it as the native currency for gas fees, giving it essential utility from day one.

Bitcoin Hyper has already raised over $14.8M in its presale, clearly showing investors see its potential.

$HYPER has a buzzing community on X and Telegram with over 19K combined followers/subscribers. This will help maintain the hype, promote the positive, and see the project succeed.

Beyond the Bitcoin Bet

GameStop’s move is proof that things are changing and that companies see the value in digital money. From GameStop’s long-term play to the crazy ride for QMMM, it’s a world where a crypto announcement can send a stock to the moon.

The new reality is a gold rush but also a minefield. The market is running on vibes and speculation, not just the usual financial numbers. This is where cool projects like Bitcoin Hyper ($HYPER) will stand out from the noise.

But before you throw your money into an investment, don’t let the buzz blind you. Do your own research, and remember we don’t intend this as financial advice.

Authored by Aaron Walker, NewsBTC — https://www.newsbtc.com/news/gamestop-revival-thanks-to-bitcoin-hyper-explodes/ 

Journalist

Hassan Shittu

Journalist

Hassan Shittu

About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in…

Share

Last updated: 

August 20, 2025

Solana’s leading meme coin launchpad, Pump.fun, has staged a dramatic comeback, posting one of its strongest weeks of 2025 and reclaiming dominance in the fiercely competitive meme coin market.

According to data from DeFiLlama, Pump.fun generated $13.48 million in revenue between August 11 and 17, marking its best weekly performance since February.

The surge represents nearly a 700% increase from the $1.72 million recorded in the first week of August, when the platform hit its lowest revenue levels since March 2024.

The rebound comes as the broader meme coin sector itself swung sharply, with market capitalization collapsing by $16 billion in early August before partially recovering.

Pump.fun Regains Dominance in Solana Meme Coin Market

Pump.fun’s resurgence is particularly notable after ceding ground to rival Solana-based launchpad LetsBonk in July.

For nearly a month, LetsBonk.fun led in daily trading volume and revenue, disrupting Pump.fun’s dominance in the ecosystem.

That streak broke in early August, when Pump.fun overtook its competitor across all major metrics, including tokens minted, daily volume, and revenue.

On August 6 alone, Pump.fun processed $144.5 million in graduation volume and $525 million in post-graduation trading activity, far eclipsing LetsBonk’s $34.6 million and $305 million, respectively.

Daily data further underscores the platform’s renewed momentum. In a single 24-hour period this week, Pump.fun users created more than 20,000 new tokens, generating nearly $129 million in trading volume and $1.22 million in fees.

By contrast, LetsBonk.fun launched just 338 tokens with $3.3 million in volume and $15,487 in fees during the same period. Pump.fun also saw over 124,000 active addresses, dwarfing its competitors and reaffirming its status as the primary launchpad for traders and creators in the Solana meme coin scene.

Despite the record-breaking weekly revenue, Pump.fun’s financial picture in 2025 remains mixed. Quarterly earnings have declined sharply, with revenue falling from $257.6 million in Q1 to just $133.1 million in Q2, signaling reduced transaction activity over the summer months.

Still, annualized metrics from Dune Analytics highlight strong underlying fundamentals: Pump.fun maintains $4.5 billion in monthly decentralized exchange volume, $367 million in projected annual revenue, and a market capitalization nearing $2 billion.

Its native token, PUMP, currently trades around $0.002963, which is a 2.9% surge in the last 24 hours, slightly recovering from a 25.9% drop from one week ago. Industry analysts say Pump.fun’s recovery reflects both platform-specific momentum and broader sentiment shifts in the meme coin market.

After plunging from $77.7 billion at the end of July to $62.1 billion on August 3, the sector’s market cap rebounded to $75 billion by mid-month before easing back to $70 billion.

At press time, meme coins collectively hold a market capitalization of about $66 billion.

Solana Launchpad Faces $5.5B Class Action Amid Expansion and Buybacks

Solana-based meme coin platform Pump.fun is facing a consolidated class action lawsuit in the Southern District of New York, alleging it operates an illegal “meme coin casino” that caused between $4 billion and $5.5 billion in losses to retail traders.

The suit targets Pump.fun’s operator, Baton Corporation, along with founders Alon Cohen, Dylan Kerler, Noah Bernhard, Hugo Tweedale, and executives from Solana Labs, the Solana Foundation, and Jito Labs.

Plaintiffs claim the defendants formed a “Pump Enterprise,” describing the platform as a racketeering scheme under the Racketeer Influenced and Corrupt Organizations Act (RICO).

According to the filing, Pump.fun acts as a “slot machine cabinet” where users deposit SOL for unpredictable token outcomes. The complaint highlights the absence of age checks or KYC screening, allowing minors to trade.

Despite legal challenges, Pump.fun continues to expand. On August 8, it launched the Glass Full Foundation (GFF), an initiative to provide liquidity support for selected projects, aiming to stabilize its fast-moving meme coin sector.

Earlier in the month, the platform introduced a public revenue dashboard and resumed buybacks of its $PUMP token. Between August 5 and 11, Pump.fun repurchased $8.4 million worth of tokens, nearly all of its revenue during that period.

To date, it has bought back more than $33 million worth of $PUMP, offsetting less than 1% of supply.

Pump.fun’s momentum has attracted attention from Solana Labs co-founder Anatoly Yakovenko, who said on X the platform “has a shot at building a global streaming platform.” He also noted that competition in crypto “never ends.”

Rival platform LetsBONK.fun is pursuing a similar strategy. On August 3, it allocated 440 SOL to token buybacks, followed by a $750,000 purchase of $USELESS tokens as part of a new strategic fund. It also pledged to direct 2% of revenue toward supporting leading community projects.

However, its ecosystem has faced setbacks, with market cap falling 20% in a day and its native token $BONK down more than 20% over the past week. Meanwhile, $USELESS, the top token on LetsBONK.fun, has surged nearly 28% in seven days after announcing multiple exchange listings, including Binance and Coinbase.

The New York Times is reporting that OpenAI has secured $8.3 billion in a new round of funding, months ahead of schedule.

According to the NYT report, this round of investors, which includes Blackstone, TPG, T. Rowe Price, Fidelity, Andreessen Horowitz, and other financial giants, has helped blow up OpenAI’s valuation to $300 billion.

OpenAI has been planning to raise $40 billion by the end of 2025. When OpenAI announced its ambitions back in March, SoftBank immediately provided $30 billion towards the goal.

Now, in addition to $2.5 billion from venture capitalists earlier this year, OpenAI has raised a reported $40.8 billion, way ahead of schedule.

For its latest round, OpenAI’s biggest investor was Dragoneer Investment Group, a venture capitalist firm that coughed up $2.8 billion for the leading AI project.

Furthermore, OpenAI’s revenues are up $3 billion over the last month, with paid subscribers reaching the 5 million mark.

Co-founder Sam Altman’s other project, the ID-focused crypto Worldcoin (WLD), has also been growing this year, launching in the US in May.

Despite the expansion of iris-scanning devices, WLD is dipping alongside the rest of the crypto markets, trading for $0.987 at time of writing, about even with its position three months ago, and down 52% since last year.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

The former US House of Representatives Speaker, Kevin McCarthy, is warning that the national debt is nearing a crisis situation.

In a new interview on CNBC’s Squawk Box, the Republican politician says that the next US president will have to start reducing government spending as borrowing continues to soar, threatening the dollar’s global dominance.

The US debt just ballooned by more than $519 billion between July 3rd and July 28th, reaching a total of more than $36.8 trillion.

“Your real question is, how do you keep the dollar the world currency? I think the more that we go in and sanction we’re pushing countries to learn to go around the dollar. I think President Trump has done a very smart move against the BRICS, what they were trying to do. But it all comes down to debt. That’s why debt is our greatest threat to America, and you cannot avoid it any longer.”

McCarthy says that if the next president doesn’t materially address the debt, then significant safety net programs like Social Security may face deep cuts.

“The next President is going to have the debt crisis… and the challenge is, if you look in the past, the Democrats had the ‘Blue Dog.’ Those were Democrats who cared about debt. They’re no longer there. No one in Congress has been elected saying they’re going to balance the budget. The country has to be educated on this, and Congress is going to have to act, because Social Security in the next administration is either going to take a 24% cut or [it will] do something about it.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum staking validator Everstake has announced that the validator exit queue has reached its highest point in one year. The expert further explained why this development might be a positive for the ETH ecosystem. 

Ethereum Validator Exit Queue Reaches New High

In an X post, Everstake stated that the Ethereum validator exit queue has reached its highest level in over a year, representing approximately 520,000 ETH, which is equivalent to $1.9 billion at current prices. The validator noted that this queue will take around 19 days to fully clear. He further explained that this exit queue tracks how many validators are leaving Ethereum’s staking system. 

This typically raises concerns about a huge sell-off being imminent from these validators. However, Everstake assured that the surge in the validator queue is not a sign of fear or collapse. Instead, the expert claimed that it is a shift, whereby these validators are more likely to exit and restake, optimize, or rotate operators than leave the ETH ecosystem. 

Meanwhile, Everstake admitted that there is still the possibility that these validators may want to lock in profits, especially seeing as the Ethereum price just recently surged to a six-month high. He noted that it is natural to assume that some stakers are preparing to sell, which could create short-term sell pressure and potentially cause ETH to correct.  

However, on the other hand, the validator remarked that Ethereum is seeing record ETF demand, with billions of dollars in net flows since the beginning of this month. As such, BlackRock, Fidelity, and other ETH ETF issuers could match this potential sell pressure with similar buying pressure. 

Everstake also declared that this development with the validator exit queue is a “sign of health” and the freedom to move. He claimed that activity like this shows how mature ETH staking has become, with the protocol doing what it was designed to do. He added that this is what decentralization looks like. 

ETH ETFs Record Inflows For 15 Consecutive Days

SoSo Value data shows that the Ethereum ETFs have now recorded 15 consecutive days of net inflows. This follows the net inflow of $231.23 million that they recorded on July 24. These funds currently hold $20.70 billion in net assets, representing 4.59% of Ethereum’s market capitalization. 

The significant inflows into these funds support Bitwise CIO Matt Hougan’s theory that ETH will soon witness a demand shock. He stated that this demand will come from the ETFs and corporate treasuries, predicting that they could purchase up to $20 billion of ETH in the next year.

At the time of writing, the Ethereum price is trading at around $3,630, up over 1% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

On-chain data shows the Ethereum network has seen a sharp uptick in weekly whale volume, a sign that big-money interest is back in the asset.

Ethereum Large Transactions Volume Has Hit Highest Since 2021

In a new post on X, institutional DeFi solutions provider Sentora (formerly IntoTheBlock) has talked about the latest trend in the Large Transactions Volume of Ethereum.

The “Large Transactions Volume” here refers to an indicator that keeps track of the total amount of volume that’s being moved on the ETH network by transactions valued at more than $100,000.

Generally, only the whale-sized investors are capable of shifting amounts of this scale with a single transfer, so the volume associated with these moves can be assumed to be a representation of the activity being done by big-money investors.

When the value of the metric rises, it means the whales are increasing their transaction activity. Such a trend can be a sign that their interest in the asset is going up. On the other hand, the indicator going down implies the large holders may be losing interest in the cryptocurrency.

Now, here is a chart that shows the trend in the Ethereum Large Transactions Volume over the history of the coin:

The value of the metric appears to have been rising in recent days | Source: Sentora on X

As displayed in the above graph, the Ethereum Large Transactions Volume has observed some rapid growth recently, suggesting the whales have significantly upped their transaction activity.

Last week, the metric’s value totaled to more than $100 billion, which is the highest weekly level since the 2021 bull run. This latest wave of activity from the whales has come alongside ETH’s breakout that has now brought its price into the high $3,000 levels.

While this is certainly a sign of elevated interest from the humongous entities, it’s hard to say whether it’s a positive. The Large Transactions Volume contains no information about the split between buying and selling moves, so its spike says nothing about which behavior is more dominant, just that these holders are making some sort of moves.

In some other news, the US Ethereum spot exchange-traded funds (ETFs) have just seen a record-breaking week, as analytics firm Glassnode has pointed out in an X post.

The trend in the netflow associated with the US ETH spot ETFs | Source: Glassnode on X

From the chart, it’s visible that the Ethereum spot ETFs have been seeing green weeks for a while now, but the latest one stands out for the sheer scale of inflows witnessed during it.

“Last week, Ethereum spot ETFs saw inflows of over 588K ETH – nearly 17x the historical average and more than double the previous record,” notes Glassnode.

ETH Price

At the time of writing, Ethereum is trading around $3,730, up 2% over the last week.

Looks like the price of the coin has been climbing up recently | Source: ETHUSDT on TradingView

Featured image from Dall-E, Glassnode.com, IntoTheBlock.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Ethereum’s derivatives market has erupted in the past seven days, and the trading desk at Singapore-based QCP Capital argues it is the clearest evidence yet that a long-anticipated altcoin season is finally under way. In a note to clients on Monday, the firm says total perpetual open interest (OI) in ether futures has vaulted from “under $18 billion to more than $28 billion in just a week,” a jump large enough to drag the composite “altcoin-season index” above the critical 50-point threshold for the first time since December.

Altcoin Season Ignites As Ethereum Outpaces BTC

While it’s no surprise that retail may be chasing the momentum, it’s becoming increasingly clear that institutions are leading the charge this cycle, driven by a shift in narratives and structural developments,” QCP writes, pointing to the unusually large sizing of recent block trades on CME and Binance.

Related Reading

QCP singles out last Friday’s signing of the GENIUS Act as the pivotal spark behind the rotation. The law creates a comprehensive federal regime for dollar-backed stablecoins, forcing issuers to hold 100 percent short-term Treasury or cash reserves and submit to Bank Secrecy Act oversight. The White House cast the statute as “historic legislation that will pave the way for the United States to lead the global digital-currency revolution.”

With regulatory clarity finally in hand, corporate treasuries “are racing to build their stockpile,” QCP says, treating ether and other smart-contract platforms—Solana, XRP Ledger and Cardano among them—as the infrastructure layer that will benefit most from an explosion in stablecoin issuance. The desk compares the emerging strategy to the hard-money playbook adopted by publicly listed bitcoin bellwethers such as MicroStrategy and Japan’s Metaplanet.

The note argues that the policy tailwind is already reshaping capital flows. Spot ether ETFs attracted $602 million on July 17, out-pulling bitcoin ETFs’ $522 million and marking the first daily flow victory for ETH in the eighteen-month history of US crypto ETPs. BlackRock’s iShares Ethereum Trust recorded the single largest subscription and, according to QCP, is “broadcasting confidence” that its pending amendment to allow on-chain staking will secure SEC approval later this year. Industry analysts concur: the agency is widely expected to rule on the batch of staking amendments before year-end despite BlackRock’s late filing.

Related Reading

Derivatives positioning mirrors the spot-market exuberance. QCP highlights “aggressive” demand for out-of-the-money call spreads such as the ETH-26 Sep 25 $3,400/3,800 and ETH-26 Dec 25 $3,500/4,500 structures, along with a persistent bid for call-side risk reversals across all listed tenors. Implied volatility skews now favour calls by their widest margin since the April 2024 meme-coin frenzy, signalling traders’ willingness to pay up for upside exposure through the fourth quarter—precisely the window in which ETF staking approval could drop.

The Ether surge has already carved four percentage points out of bitcoin’s market-share lead, driving BTC dominance down to 60 percent while lifting ETH’s share from 9.7 percent to 11.6 percent, QCP notes. If that trend holds—and the firm stresses that sustained follow-through in the options market is a key litmus test—“the next leg of altcoin season may already be in motion.”

For now, QCP is monitoring three metrics: perpetual OI growth, the altcoin-season index, and relative ETF flows. A decisive break of bitcoin above $121,000 could delay rotation, the desk concedes, but the structural forces unleashed by the GENIUS Act and the prospect of yield-bearing ether ETFs give institutions a tangible reason to diversify. As QCP puts it, “we’ll be watching these signals closely—and if anything else confirms the thesis, you’ll be the first to know.”

At press time, ETH traded at $3,846.

Featured image created with DALL.E, chart from TradingView.com

The Cardano price has witnessed an exhilarating run over the past few days, experiencing a significant breakout from consolidation beneath the $0.6 level. Before its recent price surge, the altcoin had been moving mostly sideways within the $0.5 and $0.6 range.

Interestingly, the Cardano price seems to just be at the beginning of what is expected to be a monstrous rally over the next few months. A crypto expert on the social media platform X has come forward with an exciting pathway to unprecedented price highs for the ADA token.

ADA In Distribution Phase — Perfect Buying Opportunity?

In a July 11 post on X, Alphractal founder & CEO Joao Wedson shared an exciting bullish picture for the Cardano price over the coming months. The on-chain expert put forward the $4.9 mark as the market top for the ADA token in the next leg up.

Related Reading

This bold projection is based on a persistent ascending channel pattern on the daily Cardano price chart. An ascending channel is a chart pattern in technical analysis characterized by two major (rising) trendlines: the upper line acting as the resistance level and the lower line acting as the support level.

Typically, the gap between these trendlines is considered a channel within which prices move over a period—while indicating a sustained long-term bullish trend. Traders often use this pattern to identify optimal entry and exit points, as the price usually bounces off the upper resistance level and lower support trendline.

As observed in the above chart, the Cardano price has been trading within the ascending channel since the first half of 2019. After falling to the lower trendline earlier this year, the price of ADA soon found support and rebounded to above the $1 level in 2025’s first quarter.

However, the altcoin — as with the rest of the crypto market — witnessed a severe downturn that saw the Cardano price return to the lower trendline in late June. Interestingly, the token’s price seems to have found support and is recovering nicely.

Wedson, in his post on X, revealed that what the Cardano price is experiencing is more than a mere recovery, as the altcoin might surpass its current all-time high of $3.09 in this phase. According to the on-chain analyst, the ADA token could be trading well above the $3 mark by late October or early November 2025.

Furthermore, Wedson noted that the current level might be the right time for investors to jump into the ADA token, as it is still in the distribution phase in the short term. “This might break some technical analysis patterns, but the on-chain analysis looks promising in several aspects — and that’s what I like,” the analyst concluded.

Cardano Price At A Glance

As of this writing, the price of ADA stands at around $0.7124, reflecting an almost 6% in the past 24 hours. This positive single-day action underscores the general bullishness that the altcoin has witnessed in the past few days. According to data from CoinGecko, the ADA coin is up by roughly 30% in the last seven days.

Related Reading

Featured image from Pexels, chart from TradingView