With interest rates set to be lowered in the U.S., a continuing surge of crypto treasury companies and the deal sealed on the SEC dropping its case against Ripple, money is pouring into altcoins over the past 24 hours.

Not the largest gainer, ether (ETH) has jumped 3.5% over the past 24 hours and pushed above $4,000 for the first time since December. The globe's second-largest crypto is now higher by 25% year-to-date and 112% year-over-year.

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As for the world's leading crypto, bitcoin

is essentially flat over the last day at $116,800. Taken together with the ether move, the closely-watched ETH/BTC ratio has risen 3% in the past hour and is now up 42% over the last month. Bitcoin, however, is doing just fine over longer period, with the ETH/BTC ratio down 4% year-to-date and 20% year-over-year.

A check of some other alts finds XRP

higher by 9% over the past 24 hours, SOL (SOL) 3.5% and dogecoin5.3%.

Ether treasury company stocks are moving as well: Bitmine Immersion (BMNR) is higher by 13% on Friday and Sharplink Gaming (SBET) 4%.

Ether Price (ETH) News: Back Above $4K

Pendle’s total value locked (TVL) has surged to a record $8.27 billion, while its native token PENDLE climbed 45% over the past week to $5.6 on the back of the protocol’s new yield-trading platform.

With bitcoin funding rates averaging about 10% annualized this week and roughly $80 billion in open interest, according to Dune data, more than $8 billion changes hands yearly between longs and shorts.

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Boros packages those yields into tradable on-chain assets called Yield Units (YUs) , letting traders go long or short on the rates themselves.

Boros can be used for numerous advance strategies, including hedge floating funding payments into fixed rates, or lock in high yields during volatile periods.

In its first two days, Boros attracted deposits of over 283 WETH (around $1.1 million) and 6.4 WBTC (about $750,000) into its vaults, data shows.

Activity on Pendle’s Arbitrum deployment has spiked alongside the launch, with active addresses reaching 1,428, well above the monthly average, and both buyers and sellers multiplying on decentralized exchanges according to data from TheTie.

While Boros currently supports BTC and ETH funding rates, plans are to expand to other floating yields such as staking rewards and tokenized Treasury bills.

Pendle’s performance and total value locked also came on the back of the Hyperliquid ecosystem. The firm integrated with Hyperliquid late last month. Since then, Kinetiq’s kHYPE, the largest liquid staking token on Hyperliquid’s HyperEVM, has attracted $221 million in total value locked.

PENDLE token, over the past week, has significantly outperformed the wider cryptocurrency market, as measured by the CoinDesk 20 (CD20) index, which rose 13.15% over the period.

DeFi News: Pendle's TVL Hits Record $8.3B After Yield-Trading Platform Debut

This is a technical analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole.

XRP: Not out of the woods yet

XRP

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, the payments-focused cryptocurrency, surged 11% on Thursday, reportedly breaking out of a bull flag pattern to suggest renewed upward momentum. However, it's not yet clear, as prices remain well below the crucial $3.65 level, where a bearish "tweezer top" candlestick pattern occurred last month.

The tweezer top is a bearish reversal pattern, comprising two candles with identical highs that represent a clear rejection point, in this case $3.65. It's as if the market tried to climb to a new level twice and was met with a brick wall of selling pressure at the same spot, a sign that the upward momentum has completely stalled.

The bulls, therefore, need to overcome the significant supply point at $3.65, a move that would invalidate the bearish reversal pattern.

XRP's weekly chart. (TradingView)

However, this may be easier said than done, as on-chain data suggests that holders are sitting on substantial profits and have a strong incentive to sell at current valuations.

"The [XRP] Net Unrealized Profit/Loss (NUPL) remains at elevated levels not seen since the 2021 peak, reaching similar levels to those observed in 2018. These high values indicate that the market still carries significant unrealized profits, which historically represents zones of potential distribution and price correction," research firm Alphractal said on x.

XRP net unrealized profit and loss. (Alphractal)

Resistance: $3.38, $3.65, $4.00.

$3.38, $3.65, $4.00. Support: $2.99, $2.72, $2.65.

Bitcoin: BTC awaits breakout

Bitcoin's (BTC) recent pullback is currently taking the shape of a descending channel (white lines) within its primary uptrend (yellow lines) . This pattern is a classic "bull breather" that suggests the market is consolidating its recent gains.

The price's recent bounce from the 50-day Simple Moving Average (SMA) further reinforces the strength of this consolidation. For traders, this means that while the short-term trend is still corrective, the path of least resistance remains to the upside.

BTC's daily chart. (TradingView)

A decisive breakout from the descending channel would confirm a continuation of the broader uptrend, potentially yielding a move to record highs above $123,000. Conversely, a move below the May high of $111,965 would increase the risk of a deeper sell-off to $100,000.

Resistance: $120,000, $122,056, $123,181.

$120,000, $122,056, $123,181. Support: $111,965, $104,562, $100,000.

Ether: Major breakout

Ether has rallied to over $4,200, reaching levels last seen four years ago. The cryptocurrency has broken out of a prolonged symmetrical triangle that contained its price since the all-time high in late 2021, which is a major bullish signal.

ETH's daily chart. (TradingView)

The decisive breakout, particularly on a chart with this long a time horizon, indicates that the market has officially entered a new, powerful uptrend, opening the door for a retest of record highs above $4,800.

XRP News: XRP Charts Signal Caution to Bulls as Bitcoin (BTC) Awaits Breakout and Ethereum (ETH) Goes Bonkers

Bitcoin slipped 0.11% in the past 24 hours to $116,702, according to CoinDesk Data, but remains up 25% year to date, second only to gold’s 29% gain among major asset classes, according to data shared by financial strategist Charlie Bilello on X.

2025 Performance so far

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As of Aug. 8, bitcoin’s 25% year-to-date return ranked behind only gold’s 29.3% advance. Other major asset classes have posted more modest gains, with emerging market stocks (VWO) up 15.6%, the Nasdaq 100 (QQQ) up 12.7% and U.S. large caps (SPY) rising 9.4%. Meanwhile, U.S. mid caps (MDY) and small caps (IWM) 0.2% have only gained 0.8%, respectively. This marks the first time gold and bitcoin have occupied the top two positions in Bilello’s annual asset class rankings since records began.

2011–2025 Cumulative returns

Over the longer term, bitcoin has delivered an extraordinary 38,897,420% total return since 2011 — a figure that dwarfs all other asset classes in the dataset. Gold’s 126% cumulative return over the same period puts it in the middle of the pack, trailing equity benchmarks like the Nasdaq 100 (1101%) and U.S. large caps (559%) , as well as mid caps (316%) , small caps (244%) and emerging market stocks (57%) . Based on Bilello’s figures, bitcoin’s total return has exceeded gold’s by more than 308,000 times over the past 14 years.

2011–2025 Annualized returns

When measured on an annualized basis, bitcoin’s dominance is equally clear. The flagship cryptocurrency has delivered a 141.7% average annual gain since 2011, compared with 5.7% for gold, 18.6% for the Nasdaq 100, 13.8% for U.S. large caps and 4.4% to 16.4% for other major equity and real estate indexes. Gold’s long-term stability has made it a valuable hedge in certain market cycles, but its pace of appreciation has been far slower than bitcoin’s exponential climb.

Gold vs. bitcoin, according to Peter Brandt

Renowned trader Peter Brandt weighed in on Aug. 8, contrasting gold’s merits as a store of value with bitcoin’s potential to surpass all fiat alternatives. “Some think gold is a great store of value — and it is. But the ultimate store of value will prove to be bitcoin,” he said on X, sharing a long-term chart of the U.S. dollar’s purchasing power. His comments echo the growing narrative that bitcoin’s scarcity and decentralization make it uniquely positioned to outperform traditional hedges over time.

Technical Analysis Highlights

According to CoinDesk Research's technical analysis data model, between Aug. 8 at 21:00 UTC and Aug. 9 at 20:00 UTC, bitcoin traded within a $1,534.42 range (1.31%) from $116,352.52 to $117,886.44.

Price opened near $116,900 and moved sideways before surging during Asian hours, climbing from $116,440 to $117,886 between 05:00 UTC and 10:00 UTC on Aug. 9, with 24-hour trading volume exceeding 9,000 BTC during these intervals.

Strong buying emerged near $116,420 at 05:00 UTC, while selling pressure intensified around the $117,886 high.

Bitcoin closed the session at $116,517, down 0.32% from the open, with defined support at $116,400–$116,500 and resistance at $117,400–$117,900

In the final hour of the analysis period (Aug. 9, 19:06–20:05 UTC) , bitcoin remained under downward pressure within a $195.11 band, sliding from $116,629.40 to $116,519.29 (-0.09%) .

The largest final-hour volume spike occurred at 19:27 UTC, when 296.43 BTC changed hands as price tested $116,547 support.

Recovery attempts were repeatedly capped near $116,600–$116,713, in line with earlier intraday resistance.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

Bitcoin News: BTC YTD Performance 2nd to Gold but 308,709x Higher Total Return Since 2011

The US government is now accepting donations via PayPal and Venmo to help reduce the national debt, which ballooned by a whopping $734.59 billion in just one month.

According to the U.S. Treasury, America’s national debt jumped from $36.215 trillion on July 3rd to $36.950 trillion on August 6th.

Over the next decade, the recent passage of President Trump’s One Big Beautiful Bill Act is expected to add more than $3 trillion to the national debt, largely due to tax cuts, according to the Congressional Budget Office (CBO). The Trump administration has disputed the estimate.

While the U.S. Treasury Department has long operated a Pay.gov site that allows for donations to reduce the national debt, it appears that payment options via PayPal and Venmo were recently added in addition to the usual bank account or credit/debit card donation options.

Donors can make the different payment selections under “Gifts to Reduce the Public Debt” on the pay.gov website.

The new payment options just garnered a lot of attention after NPR host Jack Corbett flagged them on the social media platform X.

Since 1996, data show the government has received just $67.3 million in gifts to reduce the debt, which measures what the US owes to its creditors. A year ago, the US national debt stood at $35.08 trillion.

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US National Debt Explodes by $734,590,562,000 in Just One Month As Government Begins Accepting Venmo and PayPal Donations To Cut Debt

Cryptocurrency trader Ali Martinez is highlighting a top-20 altcoin built on the Ethereum (ETH) blockchain that is primed to skyrocket.

Martinez tells his 146,400 followers on the social media platform X that blockchain oracle Chainlink (LINK) could appreciate by around 138% from the current level.

“Chainlink still has a clear path to $46 as long as the $13 support level holds strong.”

Chainlink is trading at $19.37 at time of writing, up by nearly 40% over the past 30 days.

Turning to Bitcoin (BTC), the widely followed trader says the flagship crypto asset is in a “tough spot” as it is sitting on weak support while facing strong resistance.

“There’s a massive resistance wall at $117,000, while an air gap looms below, with little support between $113,000 and $108,000.”

Bitcoin is trading at $116,694 at time of writing.

Next up is the payments altcoins XRP (XRP).

According to Martinez, XRP “may be headed for a deeper correction” based on various metrics and indicators. Martinez says the Tom DeMark (TD) Sequential indicator, which is used to determine potential trend exhaustion and price reversal points, has flashed a sell signal for XRP on the three-day chart. Per the widely followed analyst, XRP could fall by over 25% from the current level to the next support zone.

“While the $3 zone has acted as support for XRP, on-chain data points to $2.80 as a temporary buffer, but real support begins below $2.48.”

XRP is trading at $3.33 at time of writing.

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Trader Says Ethereum-Based Altcoin on a ‘Clear Path’ to a 138% Rally, Outlines Path Forward for Bitcoin and XRP

A historic Ivy League school has disclosed a large-scale hack that affects nearly 900,000 of its students, applicants and employees.

According to a data breach notification with the Maine Attorney General’s Office, 868,969 people are affected by a hack at Columbia University after someone likely stole data from a limited portion of the school’s computer network.

In its initial statement, Columbia said that it had immediately begun an investigation into the incident with “leading cybersecurity experts,” and determined that an “unauthorized actor” unlawfully stole data, but that “no threat actor activity” was observed.

The breach occurred between May 16th and June 24th, but was not discovered by Columbia until July 8th.

In a new update on the data breach, Columbia discloses that the information stolen by hackers included the victims’ Social Security numbers, contact details, demographic records, academic histories, as well as financial aid-related information, insurance-related information and certain health information.

“Beginning August 7, we will begin notifying individuals, on a rolling basis, whose personal information may have been affected, via US Postal Service mail… Regardless of whether you are affected, we encourage all members of the University community to remain vigilant and continue to monitor your accounts for suspicious activity as you normally would.”

The university is now offering affected individuals two years of free credit monitoring, fraud consultation and identity theft restoration services through a vendor.

Columbia also says it has taken steps to harden its systems by implementing safeguards and enhanced protocols to prevent future incidents.

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868,969 People Potentially Exposed As Hacker Strikes Ivy League University – Social Security Numbers, Names and Other Personal Information Affected

Web3 powerhouse Animoca Brands has partnered with one of the biggest banks in the world, focused on the issuance and advancement of stablecoins.

In a press release, Animoca says that it has formed a new entity called Anchorpoint Financial Limited (“Anchorpoint”) in Hong Kong, in a joint venture with banking giant Standard Chartered.

Anchorpoint says it filed with the Hong Kong Monetary Authority (HKMA) to apply for a stablecoin issuer license on August 1st, on the same day that the Stablecoin Ordinance bill – which sets rules and regulations for stablecoins – came into effect in the city state.

Says Evan Auyang, group president of Animoca Brands,

“Animoca Brands is proud to partner with Standard Chartered and HKT to form Anchorpoint in applying for a stablecoin issuer license under the HKMA, with a view to bringing stablecoins into the mainstream financial ecosystem in Hong Kong.

Stablecoins represent one of the most compelling use cases within Web3, and we believe we are still at the early frontier of widespread adoption across institutions and retail alike. As assets continue to move on-chain, the HKMA-regulated fiat-referenced stablecoin is important in reinforcing Hong Kong’s position as a leading international financial center.”

Earlier in the year, Standard Chartered opened a new entity in Luxembourg after obtaining approval to offer digital asset custody services in the European Union. That entity is to serve as its regulatory entry point for offering crypto and digital asset custody services to clients in the EU following the region’s implementation of the Markets in Crypto Assets (MiCA) regulation.

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$822,840,000,000 Bank Forms Joint Venture With Animoca Brands To Issue and Advance Stablecoins

Police are warning about a surge in scams that have drained more than $100,000 from bank customers this year alone in a single US city.

Authorities in Oregon say scammers are using sophisticated tactics including fake calls and emails to trick victims into losing their money, reports Central Oregon Daily

Police in the city of Bend say 243 fraud attempts have already been reported in 2025, with 20 victims losing $107,905 in July.

One victim, deceived by a fake Wells Fargo call about a supposed account issue, was driven by Uber to withdraw $12,000 and deposit it into unknown JPMorgan Chase accounts.

Another victim, alerted to a supposed Zelle account hack by a fake U.S. Bank caller, was tricked into buying $3,500 in MoneyPak Green Dot cards and sharing the codes.

A third scam started with a fake eBay purchase email, leading the victim to deposit $32,000 into a Bitcoin ATM while the scammer hijacked their computer and accounts.

Police say scammers impersonate banks or officials, rushing victims to act, and legitimate lenders never demand money by phone or email, or push customers to make cash transfers.

Bank Customers Warned As Scammers Drain Over $100,000 From Accounts – Police Say Zelle, Wells Fargo, JPMorgan Chase, US Bank and Bitcoin Targeted

Arthur Hayes, co-founder of crypto exchange BitMEX, appears to have reversed course on a major ether (ETH) trade just days after warning of a market downturn.

Last week, data from Arkham Intelligence showed that Hayes sold 2,373 ETH worth around $8.32 million, when the second-largest cryptocurrency was trading near $3,500 and moved into stablecoins.

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This weekend, however, he seems to have a change of heart.

Hours ago, data first spotted by Lookonchain showed an address linked to Hayes moved out of $10.5 million in USDC to buy back ether, with the price of the cryptocurrency now hovering around $4,200.

The move comes after Hayes liquidated over $13 million in crypto holdings last week, including ethena

and meme token pepe

At the time, he cited U.S. tariffs and weaker-than-expected jobs data as headwinds for crypto, predicting bitcoin could test $100,000 and ether could revisit $3,000.

Yet Hayes’ quick buyback suggests he may see renewed upside in ether. Hayes seemingly confirmed the acquisition of ETH in a post on X, saying he “had to buy it all back” while sharing an ether price chart.

ETH News: Arthur Hayes ‘Had to Buy It All Back’ After Selling $8.3M ETH Previously

DoubleLine Capital CEO Jeffrey Gundlach believes the Fed is set to cut rates over the coming months – a move that could trigger breakouts for a particular group of assets.

In an interview with CNBC Television, the billionaire “Bond King” says that a deeper look at the US labor market suggests that the economy is weakening and that the Fed may need to step in to stimulate growth.

In July, the Bureau of Labor Statistics (BLS) revised down May and June job growth by a combined 258,000.

Amid the downward revision, Gundlach highlights that the household survey, which comes from people’s self-reported work status, has been in negative territory for most of the year.

“The jobs created in the household survey are negative for the last three months cumulatively and the last six months cumulatively. There’s negative job growth from the household survey…

We always say [the labor market] is a lagging indicator… It appears it’s starting to fall in line with some of these other indicators, which have been suggesting weakness for quite some time.

I think that’s where we are, and I think we’re going to see the Fed cut rates at least a couple of times, probably two, maybe three this year.”

Gundlach predicts that equities trading outside the US stock market will ignite rallies once the Fed begins to cut rates.

“I think that these non-US trends are absolutely wrapped up and in place because the dollar is weakening, and it’s going to continue to weaken as the Fed cuts rates, and other countries don’t.

So I think as a dollar-based investor, you’re making money on the currency translation, and depending on what day you look at, you’re having similar types of gains on just the absolute percentage basis, but when you translate it into the dollar, you’re doing much better in some of these other places than you are in the US.”

Banking giant Goldman Sachs holds a similar view, predicting that a Fed rate cut will trigger FOMO (fear of missing out) rallies in the European stock market.

“I think from here. One of the key drivers beyond the long-term capital allocation theme is really just relative monetary policy. We’re at the point now where the ECB (European Central Bank) may be done [cutting rates], at least for now. But there is pressure on the Fed to cut…

There is definitely room there for further easing in the front end of the US curve, and that can catalyze another move higher in the euro.

And when the euro is rallying, it is the ultimate FOMO trade that I think people now are going to have to re-risk into.”

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Billionaire ‘Bond King’ Jeffrey Gundlach Predicts Outsider Asset Class Will Outperform This Year Amid Fed Rate Cuts

Banking giant Morgan Stanley says the US dollar’s decline is only enjoying an “intermission” before taking its next plunge.

In a new research note, Morgan Stanley highlights that the dollar finished the first half of 2025 with its biggest loss since 1973.

At time of writing, the dollar index (DXY), which pits the greenback against a basket of other major foreign currencies weighted by trade, is at 98.15, down almost 11% since the beginning of the year.

David Adams, head of G10 FX Strategy at Morgan Stanley, says a finale is yet to come for the dollar’s slide.

“We’re likely at the intermission rather than the finale… The second act for the dollar’s weakening should come over the next 12 months, as U.S. interest rates and growth converge with those of the rest of the world.”

The dollar has printed a notable rally since July, but according to Morgan Stanley’s chief global FX strategist James Lord, a combination of recent labor market weakness, tariff uncertainty and the potential for Fed Chair Jerome Powell to be replaced earlier than expected, continues to push the dollar lower.

Says Lord,

“If we see more evidence over the summer that tariffs are increasing inflation, then it’s possible the dollar will receive more support.

Yet, recent evidence of labor market weakness combined with policy uncertainty in the U.S., such as tariff negotiations and the recent debate about an early change in the Fed’s leadership, remains a source of downward pressure on the dollar.”

And according to data compiled by the bank, foreign holders of US assets have begun placing hedges on their Treasury and equity exposures, indicating an expectation of dollar depreciation.

Says Adams,

“The initial data suggest that hedging has picked up in the second quarter, but because of the size of US asset holdings and given how much it was initially unhedged, we could be talking about a significant long-term flow… We have a lot more to go from here.”

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Morgan Stanley Warns ‘Second Act’ of US Dollar Losses Incoming After the American Currency Suffers Worst First-Half Since 1973

A pediatric healthcare firm accused of potentially exposing private information of its patients and employees after a cyberattack at its IT services provider has jointly agreed with the outsourcer to pay millions of dollars to settle a class action lawsuit.

According to the settlement administrator’s portal, Boston Children’s Health Physicians and IT services provider ATSG have reached a $5.15 million settlement over the potential data breach arising from the cyberattack that occurred in the third quarter of 2024.

Private information belonging to hundreds of thousands of people was potentially impacted by the cyberattack, according to the class action lawsuit.

“The Action alleges that on or about September 9, 2024, Defendant BCHP learned that Defendant ATSG’s computer network was targeted in a cyberattack by an unknown third party. Plaintiffs allege that this cyberattack may have exposed Private Information belonging to approximately 918,000 of Defendant BCHP’s patients and employees housed on a computer network provided by ATSG for BCHP to use.”

Class members who file documented claims for losses from the data breach will receive up to $5,000. An estimated $100 cash payment will be handed out on a pro rata basis to class members with no supporting documentation. In addition to the cash payments, the settlement also provides for two years of medical identity monitoring, real-time alerts and up to $1,000,000 in insurance coverage for medical identity theft.

Claims for the cash payments must be made by November 10th.

Despite agreeing to settle, Boston Children’s Health Physicians, which primarily operates in New York and Connecticut, and ATSG “deny any wrongdoing whatsoever” and only settled to avoid the “cost and risk of a trial and related appeals, while providing benefits to Settlement Class Members.”

The final approval hearing for the settlement will be held on December 10th.

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Ether Price (ETH) News: Back Above $4K

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