Markets turned choppy as Bitcoin dipped to around $115,000 while global equities held steady. Ether and Solana were the weakest among major tokens, while Chainlink (LINK) led gains across altcoins.
On-chain and institutional signals were mixed: ETH hit all-time highs in transaction count and active addresses, and ETH ETFs posted record weekly inflows. Solana’s network reached 100,000 TPS in a load test, underscoring scaling progress. Bitcoin’s market value now represents about 1.7% of total global money supply — a reminder of the asset’s growing macro footprint.
Institutional activity continued to shape flows: BMNR reportedly added $600 million of ETH, Metaplanet bought $93 million of BTC, and DFDV acquired $22 million of SOL. At the same time, Sharplink’s stock slid after reporting a $130 million Q2 loss.
Regulatory moves added further twists. The Federal Reserve ended a crypto-focused supervision program, and New York proposed a 0.2% tax on crypto sales and transfers. U.S. policymakers are also exploring digital identity verification for DeFi, while the SEC signaled support for U.S. leadership in crypto markets. Internationally, South Korea plans a stablecoin bill in October and Japan expects to approve the first JPY stablecoin this fall.
Meanwhile, exchanges and index providers are preparing for tokenized products: S&P and the Dow may launch tokenized indexes, which could broaden access but raise custody and compliance questions. These developments could raise compliance costs for custodians and increase scrutiny on on-ramp services, potentially slowing retail onboarding in some markets.
What this means for traders and investors: heightened volatility is likely as market movers — from policy shifts to large corporate buys — collide. Risk awareness: prices can swing quickly; investors should conduct due diligence, consider portfolio diversification, and be prepared for regulatory changes that affect liquidity and tax treatment.
Watch for follow-ups on ETF flows, institutional accumulation, and regulatory timelines — these will shape the next market phase. Source: Decrypt. Read the original coverage for full details.