Ethereum paced gains across major cryptocurrencies after softer-than-expected PPI data, with traders now focused on today’s CPI release. Market momentum was supported by fresh institutional activity: miner BitMine added $201 million worth of ETH to its holdings, and Binance announced a collaboration with Franklin Templeton to explore real-world assets (RWAs).
On the corporate front, media and energy firms — POP Culture Group and Robin Energy — both made purchases of bitcoin as firms and funds continue to diversify treasuries into digital assets. Meanwhile, XRP reserves on exchanges jumped by an estimated 1.2 billion tokens, a shift that could influence liquidity and price dynamics for XRP holders.
Protocol and infrastructure updates also made headlines. The AVAX Foundation is reportedly exploring a $1 billion raise to set up Decentralized Autonomous Trusts (DATs), while Chainlink and UBS announced plans to automate operations for tokenized funds — a signal that traditional finance and on-chain tooling are converging. Kraken proposed listing Paxos-issued USDH and Ledger rolled out a new enterprise mobile app, targeting institutional custody and operations.
Regulatory and market-structure moves are shaping the backdrop. The SEC delayed several decisions on staking-related ETF matters even as VanEck filed plans for a HYPE spot staking ETF. Separately, Gemini and Figure raised their IPO price ranges. Internationally, India continues to resist a sweeping crypto law, Hong Kong proposed capital rules for banks holding crypto, and reports suggest Russia may consider a crypto-centric bank to address fraud.
Why this matters: the story is one of growing institutional adoption plus persistent regulatory uncertainty. Big buys and product launches can support prices, but token flows, exchange reserves and pending regulatory rulings create volatility.
What to watch next: CPI data, SEC rulings on staking ETFs, progress on AVAX’s fundraising, and on-chain reserve trends for XRP and BTC.
Source: Decrypt. Read the original coverage for full details.