The U.S. Securities and Exchange Commission’s (SEC) clarification around liquid staking continued to lift asset prices across the staking sector this week, with ETH rising to $4K for the first time since December on Friday. Several layer-2 networks have also been the beneficiary of ETH’s recent ascent. Ethereum scaling solution Optimism’s native token (OP) rose 8% in the past 24 hours to cement a weekly gain of 13%, rival network Blast also experienced a uptick of 6.3%. Mantle, which uses optimistic rollups to process transactions off-chain before settling them on the Ethereum mainnet, was the leader of the pack, with the MNT token jumping by 50% in the past week. The staking sector in general has outperformed the wider market, with LDO up 12.3% and ETHFI up 5.4% in the past 24 hours. The clarification comes after a very brief “altcoin season” last month that led to a series of significant moves for altcoins against their bitcoin trading pair. The SEC’s clarification on liquid staking could open the floodgates to institutional capital, which has been open to investing in assets like ether but not acquiring a yield through DeFi due to it previously being a regulatory gray area. Rebecca Rettig, part of Jito’s legal team, hinted that liquid staking tokens could become a part of an ETF following the SEC’s announcement. Powered by WPeMatico

Coinbase (COIN) is rolling out decentralized exchange (DEX) trading inside its main app for customers across the U.S., with the exception of New York State, the company said Friday. The move is part of its broader ambition to turn the platform into an “everything app” for crypto. The new feature will route trades on-chain through DEX aggregators such as 0x and 1inch, pulling liquidity from decentralized markets including Uniswap and Aerodrome, said Max Branzburg, Coinbase’s vice president of product. By integrating DEX trading, Coinbase is giving users the ability to interact directly with blockchain-based liquidity pools without moving funds off-platform. At launch, traders will be able to discover and swap an expanding list of Base-native tokens. That roster includes assets from Virtuals AI Agents, Reserve Protocol’s decentralized tokenized funds (DTFs), SoSo Value’s index tokens, as well as Auki Labs and Super Champs. DEX trading appeals to some crypto users because it allows for self-custody and permissionless access. Instead of relying on a central exchange to match and settle orders, transactions are executed on the blockchain itself. For traders, this can mean access to a wider range of assets, faster listings for new tokens and, in some cases, lower fees. It also removes the need to trust an intermediary with holding funds — though it comes with its own risks, like exposure to smart contract bugs or volatile, thinly traded markets. The update strengthens Coinbase’s position as a gateway to both centralized and decentralized crypto markets. It also underscores the company’s continued push to embed Web3 tools directly into its core platform, positioning it to capture users who want more control over how they trade and store digital assets. The move follows the relative success of platforms like HyperLiquid, a decentralized derivatives exchange that has notched $11 billion in volume over the past month. It also gives users a non-custodial option to trade, essentially removing counterparty risk that came to the spotlight after FTX’s momentous implosion in 2022. Decentralized exchange volume has embarked on a notable uptrend throughout the recent bull market, data from DefiLlama shows that daily volume is at $12.8 billion, dwarfing Coinbase’s total of $3.5 billion, while monthly DEX volume has surpassed $407 billion. Correction (Aug 8, 17:20 UTC): An earlier version of this article stated that Centrifuge’s assets will be available to trade at launch, which was incorrect. Powered by WPeMatico

BONK, a Solana-based memecoin, advanced 1.7% in the last 24 hours to $0.00002626. The token traded within a 4% range, with a high of $0.00002645 and a low of $0.00002485, producing a $0.00000160 spread, according to CoinDesk Research’s technical analysis data model. The price rebounded from the low at 16:00 UTC on Aug. 7, moving toward the peak during the European morning on Friday. This recovery phase saw total volume surge above 1.09 trillion tokens, greater than the daily average. However, momentum stalled at $0.00002640, where repeated sell orders capped upward moves. BONK subsequently held above $0.00002600 despite brief dips. A volume spike of 48.86 billion tokens at 12:07 UTC coincided with a failed breakout attempt past $0.00002615, reinforcing the established resistance zone. BONK may have consolidated below $0.00002630 for now, leaving traders focused on whether the token can break higher or face renewed selling pressure. Market sentiment across memecoins remains cautious amid broader crypto volatility. Institutional flows have shown signs of rotation into more established assets, but BONK’s sustained support at $0.00002550-$0.00002600 suggests buyers remain active. Technical Analysis Trading range of 4% spanned $0.00002485 to $0.00002645. Resistance confirmed multiple times at $0.00002640. Support zone established at $0.00002550–$0.00002600. Volume spike of 1.09 trillion tokens during rally phase. Failed breakout at $0.00002615 led to pullback. Elevated liquidity observed in the $0.00002580–$0.00002610 band. Intraday volatility produced several lower highs after peak. 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. Powered by WPeMatico

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. As for the world’s leading crypto, bitcoin (BTC) 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 (XRP) higher by 9% over the past 24 hours, SOL (SOL) 3.5% and dogecoin (DOGE) 5.3%. Ether treasury company stocks are moving as well: Bitmine Immersion (BMNR) is higher by 13% on Friday and Sharplink Gaming (SBET) 4%. Powered by WPeMatico

Gold futures surged to a record high on Friday after U.S. President Donald Trump imposed tariffs on imported gold bars, a rare move sparking both safe-haven buying and fresh concerns over supply disruptions in a market unaccustomed to such trade measures. The most actively traded U.S. gold futures contract climbed as high as $3,534 per troy ounce after U.S. Customs and Border Protection confirmed that one-kilogram and 100-ounce bars would face reciprocal tariffs. Tariffs make imported gold more expensive for U.S. buyers. That cost pressure typically pushes futures prices higher than spot prices, creating arbitrage opportunities for traders. The setup can fuel speculative buying, but it also sends a geopolitical signal — gold has historically been viewed as outside trade-war crossfire, more akin to a currency than a competitive product. The move is notable because most U.S. gold imports come from Switzerland, which received one of the highest tariff rates under the policy. A sudden increase in costs for that supply could raise the risk of a short squeeze if deliveries slow. “Trump’s tariffs on 100-ounce and 1-kilo gold bars could wreak havoc on the COMEX,” bitcoin critic and gold advocate Peter Schiff said in a post on X. “Prices could soar as shorts rush to cover to avoid having to pay 39% tariffs to import bars from Switzerland if longs take delivery. Even if they don’t import, all such bars will trade at premiums.” The rally comes at a time when interest rates headed lower in the West and global trade tensions are already high, factors that tend to strengthen gold’s appeal as a store of value during economic uncertainty. Historically, strong gold rallies have often coincided with gains in bitcoin, which some traders view as an alternative “safe-haven” asset. Tokenized gold products such as PAX Gold (PAXG) and Tether Gold (XAUT) were both modestly higher over the past 24 hours, while bitcoin slipped about 1%. Tariffs on gold could also make the case for bitcoin, which is not subject to customs duties and is sometimes described as “digital gold.” While the metal remains the dominant safe-haven asset, the latest price surge shows how policy changes can push investors to reassess their options. Both spot gold prices and gold futures fell during U.S. afternoon trading on Thursday after a White House official told Bloomberg that the President would introduce a policy clarifying that imports of gold bars should not be subject to tariffs, calling earlier news “misinformation” regarding the tariffs. Update (Aug 8, 18:23 UTC): Adds paragraph at the end about a White House official telling Bloomberg that the President will post an executive order to exempt gold bars from tariffs. Powered by WPeMatico

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 4044.63, up 2.8% (+111.1) since 4 p.m. ET on Thursday. Nineteen of 20 assets are trading higher. Leaders: XLM (+12.3%) and XRP (+8.0%). Laggards: BTC (-0.3%) and LTC (+0.3%). The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally. Powered by WPeMatico

The team behind decentralized lender CrediX has vanished days after a $4.5 million exploit, leaving its X account inactive and website offline since Aug. 4, according to blockchain security firm CertiK. The sudden disappearance has sparked fears of an exit scam, which is when developers abandon a project and investor funds without warning. The $4.5 million loss has been tied to a compromised admin wallet and abuse of bridge roles, which allowed an attacker to mint unbacked tokens and drain liquidity pools. The exploiter moved funds from Sonic to Ethereum, parking them across a handful of addresses. In the hours after the attack, CrediX promised to reimburse users within 24-48 hours and directed withdrawals through contracts, but the front end never returned and no recovery plan has been published. The exploit and perceived exit scam marks another tough day for crypto investors in 2025, with the total amount lost to hacks and scams totaling $2.5 billion in the first half of this year. Powered by WPeMatico

Internet Computer Protocol (ICP) extended its upward trajectory over the last 24 hours, rising 2.29% from $5.25 to $5.37. The token’s price action unfolded within a $0.26 corridor between $5.16 and $5.42, representing a 4.94% trading spread, as traders navigated pronounced intraday volatility, according to CoinDesk’s technical analysis data model. The most notable moves came in the early hours of Aug. 8, when volume surged to 3.13 million units at midnight and then doubled to 6.93 million at 01:00 UTC, both figures well beyond the 24-hour average of 876,000. These inflows consistently met bids in the $5.24-$5.27 zone, reinforcing a support base. On the upside, sellers concentrated around $5.39–$5.42. ICP subsequently advanced from $5.36 to $5.38, notching a 0.37% push. This climb was underpinned by elevated volumes between 09:50 and 09:55 UTC, ranging from 27,887 to 39,904 units, more than triple the hourly baseline. The rally confirmed $5.33-$5.34 as an intraday floor, with a breakout above $5.36 resistance hinting at the potential for further gains. Despite the broader market’s mixed sentiment, ICP’s chart structure has strengthened. The coin’s ability to hold key support levels, combined with increased volume, underscores ongoing institutional participation and growing confidence in the network’s long-term roadmap, which includes recent performance upgrades and integration with Bitcoin functionality. Technical Analysis Highlights 24-hour price range: $5.16-$5.42 (4.94% spread). Support repeatedly confirmed at $5.24–$5.27. Resistance concentrated at $5.39-$5.42. Midnight volume spike: 3.13M units vs 876K average. 1:00 AM volume spike: 6.93M units. Breakout above $5.36 resistance with volumes of 27,887-39,904 units. New intraday support formed at $5.33-$5.34. Strong buying interest during consolidation phases. 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. Powered by WPeMatico

Filecoin (FIL) demonstrated measured volatility, trading within a 5.4% range in the last 24-hours, according to CoinDesk Research’s technical analysis model. The model showed that despite experiencing a mid-session decline to $2.39 at 16:00, Filecoin staged a textbook recovery, and bounced 5%. Elevated trading volumes exceeding 2.8 million units during the correction phase suggest institutional participation, while sustained volume during the recovery confirms what market strategists characterize as sophisticated buyer interest at strategic price levels, according to the model. The Filecoin Foundation and Ava Labs have launched a native cross-chain data bridge between Avalanche C-Chain and Filecoin, according to a post on X. This new system connects high-speed smart contracts with secure data infrastructure through the Filecoin Virtual Machine. The rally in Filecoin came as the wider crypto market also rose, with the broader market gauge, the Coindesk 20, recently up 3.1%. In recent trading, FIL was 2% higher over 24 hours, trading around $2.50. Technical Analysis: FIL demonstrated controlled volatility within a $0.13 range representing 5.4% spread between session low of $2.39 and high of $2.52 during the 24-hour trading period. Strategic upward momentum emerged from 19:00 onwards, with systematic recovery carrying through the overnight session Elevated volume activity exceeding 2.8 million units during the 14:00-16:00 correction window confirmed institutional participation levels Volume acceleration exceeding 50,000 units during the 10:06-10:07 window confirmed sustained institutional momentum that market strategists interpret as evidence of continued corporate adoption potential. 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. Powered by WPeMatico

By Francisco Rodrigues (All times ET unless indicated otherwise) Crypto markets rallied in the past 24 hours, with the CoinDesk 20 (CD20) index rising 5.3% as fresh U.S. policy signals and regulatory clarity supported risk appetite across the sector. Bitcoin (BTC) gained a relatively muted 1.3% to $116,500. The rally took off after President Donald Trump signed an executive order opening 401(k) retirement plans to a broader range of investments, including cryptocurrencies. The order directs the Department of Labor and Securities and Exchange Commission to publish new guidance for retirement accounts. “This move effectively opens access to bitcoin and other cryptocurrencies for retirement investors, unlocking a staggering $8.7 trillion in assets under management.,” James Butterfill, head of research at CoinShares, said in an emailed statement. Jake Ostrovskis, OTC trader at Wintermute, told CoinDesk that the impact of the move could not be understated. “Just a 2% allocation to Bitcoin and Ethereum would represent 1.5x the total cumulative ETF inflows to date, while a 3% allocation would more than double the entire market,” Ostrovskis said. “Critically, these would be largely price-insensitive buyers focused on meeting allocation benchmarks rather than tactical trading.“ In practice, that means 401(k) funds would create “sustained, predictable demand flows that could provide a structural bid for digital assets regardless of short-term price volatility,” Ostrovskis added. While crypto has never been formally banned from the retirement investments, previous guidance strongly discouraged fiduciaries from offering it. Meanwhile, the Ethereum blockchain hit a new record for average daily transactions this week, according to data from Dune Analytics. The increase was underpinned by the SEC’s clarification earlier this week that certain liquid staking models don’t constitute securities under the 1933 Securities Act, making it safer for institutions to offer staking services. Ether’s (ETH) price surged 4.6% over the past 24 hours to near $3,900. While fireworks were going off in the crypto sector, TradFi was more subdued. The S&P 500 dropped in Thursday’s session, and the Nasdaq closed 0.35% higher, furthering the concentration of megacaps in the indexes. The 10 largest stocks now account for 76% of the entire stock market capitalization, data shared by Barchart shows. Gold rose on tariffs being imposed on some bullion bars. Looking ahead, investors are bracing for July’s inflation report, due next week, which may influence the odds of a dovish Fed interest-rate cut in September. Stay alert! What to Watch Crypto Aug. 15: Record date for the next FTX distribution to holders of allowed Class 5 Customer Entitlement, Class 6 General Unsecured and Convenience Claims who meet pre-distribution requirements. Aug. 18: Coinbase Derivatives will launch nano SOL and nano XRP U.S. perpetual-style futures. Macro Aug. 8: Federal Reserve Governor Adriana D. Kugler’s resignation becomes effective, creating an early vacancy on the Board of Governors that allows President Trump to nominate a successor. Aug 8: President Trump’s deadline for Russia to commit to a ceasefire and peace deal in Ukraine, with intensified U.S. sanctions and secondary tariffs on countries purchasing Russian energy if the deadline is not met. Aug. 8: U.S. President Donald Trump hosts Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev at the White House to sign a peace agreement. The U.S. will also sign bilateral economic agreements to promote trade and regional stability. Aug. 8, 7 p.m.: Colombia’s National Administrative Department of Statistics releases July consumer price inflation data.. Inflation Rate MoM Est. 0.19% vs. Prev. 0.1% Inflation Rate YoY Est. 4.81% vs. Prev. 4.82% Aug. 12, 8 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) releases July consumer price inflation data. Inflation Rate MoM Prev. 0.24% Inflation Rate YoY Prev. 5.35% Aug. 12, 8:30 a.m.: The U.S. Bureau of Labor Statistics (BLS) releases July consumer price inflation data. Core Inflation Rate MoM Est. 0.3% vs. Prev. 0.2% Core Inflation Rate YoY Est. 3% vs. Prev. 2.9% Inflation Rate MoM Est. 0.2% vs. Prev. 0.3% Inflation Rate YoY Est. 2.8% vs. Prev. 2.7% Earnings (Estimates based on FactSet data) Aug. 8: TeraWulf (WULF), pre-market, -$0.06 Aug. 11: Exodus Movement (EXOD), post-market, $0.12 Aug. 12: Bitfarms (BITF), pre-market, -$0.02 Aug. 12: Fold Holdings (FLD), post-market, N/A Aug. 15: BitFuFu (FUFU), pre-market, $0.07 Token Events Governance votes & calls BendDAO is voting on a plan to stabilize BEND by burning 50% of treasury tokens, restarting lender rewards, and launching monthly buybacks using 20% of protocol revenue. Voting ends Aug. 10. 1inch DAO is voting on a $1.88 million grant to fund its participation in nine global crypto events through late 2025. The proposal aims to boost developer engagement, grow institutional ties and expand adoption across ecosystems like Ethereum and Solana. Voting ends Aug. 10. Aug. 8, 11:30 a.m.: Axie Infinity to host a town hall on Discord. Unlocks Aug. 9: Immutable (IMX) to unlock 1.3% of its circulating supply worth $12.66 million. Aug. 12: Aptos (APT) to unlock 1.73% of its circulating supply worth $52.59 million. Aug. 15: Avalanche (AVAX) to unlock 0.39% of its circulating supply worth $39.25 million. Aug. 15: Starknet (STRK) to unlock 3.53% of its circulating supply worth $16.19 million. Aug. 15: Sei (SEI) to unlock 0.96% of its circulating supply worth $17.21 million Aug. 16: Arbitrum (ARB) to unlock 1.8% of its circulating supply worth $39.21 million. Aug. 18: Fasttoken (FTN) to unlock 4.64% of its circulating supply worth $91.6 million. Token Launches Aug. 8: Pudgy Penguins (PENGU) to be listed on Arkham Exchange. Conferences The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB10 for 10% off your registration through Aug. 31. Day 3 of 5: Rare EVO (Las Vegas) Day 2 of 2: bitcoin++ (Riga, Latvia) Aug. 9-10: Baltic Honeybadger 2025 (Riga, Latvia) Aug. 9-10: Conviction 2025 (Ho Chi Minh City, Vietnam) Aug. 11: Paraguay Blockchain Summit 2025 (Asuncion) Aug. 11-13: AIBB 2025 (Istanbul)