PA Daily | Bitcoin's market capitalization has once again surpassed Amazon, rising to the sixth position in global asset market capitalization; a certain Whale/institution has once again increased its holdings of over 200 million ETH.

Today’s news highlights:

Bitcoin’s market value has once again surpassed Amazon, rising to the sixth position in global asset market value.

CryptoQuant: The short-term support range for ETH is $3980 to $4020, and the resistance range is $4450 to $4550.

Citigroup raises S&P 500 year-end target to 6600 points: a reasonable correction in the stock market may occur in the next three months.

The LayerZero Foundation proposed to acquire the StarGate cross-chain bridge and its token STG for $110 million.

Data: Hong Kong virtual asset ETF trading volume breaks 100 million HKD again after 2 months.

The listed company BNC purchased 200,000 BNB, with a transaction amount of approximately 160 million US dollars.

A certain whale/institution has once again increased its holdings of over 200 million USD in ETH, currently holding over 900 million USD in ETH.

A certain whale/institution has accumulated a total of 68,000 ETH since June 22, with an unrealized profit of 115 million USD.

Macro

Ant Group refutes rumors of “co-building the world’s first rare earth RMB stablecoin with the People’s Bank of China and China Rare Earth Group”

According to Jinshi reports, Ant Group has noticed online news claiming that “Ant Group is jointly building the world’s first rare earth RMB stablecoin with the People’s Bank of China and China Rare Earth Group,” and is using this to lure investors to pay attention to related sectors. Ant Group states that it has never had such plans with the relevant institutions and urges the public to be cautious and discerning to avoid being deceived.

SGX President: Singapore Exchange may list cryptocurrency perpetual futures contracts by the end of the year.

According to Jinshi reports, the president of the Singapore Exchange stated that the exchange may list cryptocurrency perpetual futures contracts before the end of the year. Cryptocurrency trading is not suitable for retail investors, and cryptocurrency products will be launched to meet institutional demand.

Bitcoin’s market value has once again surpassed Amazon, rising to the sixth position in global asset market capitalization.

8marketcap data shows that Bitcoin’s market value has once again surpassed Amazon, reaching $2.421 trillion, rising to sixth place in the global mainstream asset rankings.

U.S. Treasury Secretary: Leading the search for Powell’s successor

According to CCTV News, on August 10 local time, U.S. Treasury Secretary Bessent stated that he is leading the search for a successor to Federal Reserve Chairman Powell.

opinion

CryptoQuant: The short-term support range for ETH is $3980 to $4020, and the resistance range is $4450 to $4550.

CryptoQuant analyst CryptoOnchain pointed out that the Ethereum market leverage ratio is close to historical highs (ELR reaching 0.68), with Binance showing a lower leverage ratio (0.52), indicating higher leverage usage on other exchanges. Additionally, the net inflow to Binance is significantly above the average level across all exchanges, which may signal localized selling pressure risks. Mid-term bullish factors include institutional demand and network growth: the daily net inflow of the U.S. Ethereum spot ETF reached a record $726.6 million, with total holdings surpassing 5M ETH (approximately $20.3 billion); Ark Invest and Fundamental Global bought 30,755 ETH and allocated $200 million to Ethereum inventory, respectively, showing increased institutional confidence. Meanwhile, on-chain transaction volume has hit new highs, staking participation continues to grow, regulatory clarity in support of liquid staking, and the upcoming upgrades (Pectra, Fusaka) will further enhance Ethereum’s scalability and usability. Short-term volatility risks are heightened, with high leverage, resistance testing, and exchange inflows potentially triggering sharp downward fluctuations, but strong institutional inflows, ETF demand, and network upgrades are expected to limit significant pullbacks and support a long-term upward trend. Key price levels: support range $3,980–$4,020, resistance range $4,450–$4,550.

Analysis: Driven by both institutional buying and favorable regulations, the next target price for ETH is $4362.

According to Matrixport’s analysis, the price of Ethereum has surpassed the $4000 mark, reaching a new high since the end of 2021. This wave of increase is primarily driven by institutional buying and a wave of short liquidations. The on-chain daily transaction volume has exceeded 1.8 million, and more than 30% of the supply has been staked. In addition, the SEC has ruled that liquid staking tokens do not fall under the category of securities, bringing significant regulatory benefits to the industry and further boosting market confidence. Some listed companies are accelerating their layouts, with their treasury holdings of ETH exceeding $3.5 billion, nearly a tenfold increase compared to last year. The next target for the market may be $4362, while the historical peak of $4892 remains the ultimate milestone.

Citigroup raises S&P 500 year-end target to 6600 points: a reasonable correction may occur in the stock market over the next three months.

According to Jinshi data reports, Citigroup has raised its year-end target for the S&P 500 index from 6300 points to 6600 points. Stuart Kaiser, head of U.S. options strategy at Citigroup, stated that its derivatives trading department has recently noticed a significant increase in demand from asset management clients for products that short the iShares index or junk bond indicators. This may reflect macro investors’ expectations regarding the future direction of the market or indicate that they are hedging against potential pullback risks in risk assets. Kaiser pointed out that the behavior of hedging credit risk suggests that the stock market may experience a reasonable pullback in the next three months.

Bank of America: “Going long on the seven tech giants” has become the most crowded trade again, with 78% of respondents expecting short-term interest rates to decline in the next 12 months.

According to Jinshi Data, a survey of fund managers by Bank of America in August shows that investors are once again flooding into the stock market due to optimistic earnings performance and improved economic sentiment. “Going long on the seven major tech giants” has become the most crowded trade, including large tech stocks such as Nvidia and Microsoft. The survey covered 169 fund managers managing assets of $413 billion, with 45% of respondents believing this trade is the hottest. Global investor sentiment has reached a new high since February 2025, with only 5% of institutions betting on the possibility of a hard landing for the economy. The net increase in stock allocation ratio has risen to 14%, the highest this year, but still below last December’s 49%. In addition, 78% of respondents expect short-term interest rates to decline in the next 12 months, with the trade war and inflation considered major tail risks.

CryptoQuant: The short-term support range for ETH is $3980 to $4020, and the resistance range is $4450 to $4550.

CryptoQuant analyst CryptoOnchain pointed out that the Ethereum market leverage ratio is approaching historical highs (ELR reaching 0.68), with Binance’s leverage ratio being relatively low (0.52), indicating higher leverage usage on other exchanges. Additionally, Binance’s net inflow is significantly higher than the average level across all exchanges, which may indicate localized selling pressure risk. Medium-term bullish factors include institutional demand and network growth: the daily net inflow for the US Ethereum spot ETF has reached a record $726.6 million, with total holdings surpassing 5M ETH (approximately $20.3 billion); Ark Invest and Fundamental Global have respectively purchased 30,755 ETH and allocated $200 million to Ethereum inventory, demonstrating increased institutional confidence. At the same time, on-chain trading volume has hit new highs, staking participation continues to grow, regulatory clarity on liquid staking is firmly supported, and the upcoming upgrades (Pectra, Fusaka) are expected to further enhance Ethereum’s scalability and practicality. Short-term volatility risks are intensifying, with high leverage, resistance testing, and exchange inflows potentially triggering sharp downward fluctuations, but robust institutional inflows, ETF demand, and network upgrades are expected to limit significant pullbacks and support a long-term upward trend. Key price levels: support range $3,980–$4,020, resistance range $4,450–$4,550.

Project Updates

The LayerZero Foundation proposed to acquire the StarGate cross-chain bridge and its token STG for $110 million.

According to The Block, the LayerZero Foundation has proposed a $110 million acquisition of the StarGate cross-chain bridge and its STG token. Under the terms of the proposal, the STG token will be discontinued, and STG holders can exchange their tokens for LayerZero’s native token ZRO at an exchange rate of 1 STG for 0.08634 ZRO, equivalent to a value of $0.1675 per STG and $1.94 per ZRO. StarGate will be incorporated into the LayerZero Foundation, and its DAO will be dissolved. The proposal states: “This proposal aims to accelerate the development of StarGate and LayerZero, providing resources to StarGate to implement an ambitious roadmap, expand its privileges beyond bridging, and deeply connect a powerful revenue-generating protocol with the LayerZero ecosystem, allowing end consumers to engage more deeply with LayerZero.”

Binance Alpha Points Phase 1 exceeds 227, eligible to claim 525 SatLayer tokens SLAY airdrop.

Binance Alpha becomes the first platform to launch SatLayer (SLAY), with Alpha trading starting on August 11, 2025, at 18:00 Beijing time. Eligible users can claim 525 SLAY airdrop through the Alpha Events page within 24 hours after trading begins, using Binance Alpha points. The airdrop is conducted in two phases: the first phase (the first 18 hours) requires at least 227 points, and the second phase (the last 6 hours) requires at least 200 points. The points threshold will automatically decrease by 15 points per hour until the rewards are fully distributed.

Binance: Hold at least 200 Alpha points to claim 800 XCX token airdrop

According to the official announcement from Binance, Xeleb Protocol (XCX) Alpha trading will start on August 11 at 16:00 (UTC+8). After trading begins, users holding at least 200 Binance Alpha points can claim an airdrop of 800 XCX tokens. It’s on a first-come, first-served basis. If the event is not over, the score threshold will automatically decrease by 15 points every hour. Claiming the airdrop will consume 15 Binance Alpha points. Users must confirm their claim on the Alpha event page within 24 hours, otherwise it will be considered a waiver of the airdrop.

Important Data

Data: Hong Kong’s virtual asset ETF trading volume has once again exceeded HKD 100 million after a two-month hiatus.

According to the Hong Kong stock market data, as of the close, today’s total trading volume of all Hong Kong virtual asset ETFs was approximately 106.3 million HKD. Among them: Hua Xia Bitcoin ETF (3042.HK/9042.HK/83042.HK) had a trading volume of 41.1436 million HKD, Hua Xia Ether ETF (03046.HK/09046.HK/83046.HK) had a trading volume of 50.25951 million HKD; Jiahua Bitcoin ETF (03439.HK/09439.HK) had a trading volume of 2.1735 million HKD, Jiahua Ether ETF (03179.HK/09179.HK) had a trading volume of 4.46454 million HKD; Bosera Bitcoin ETF (03008.HK/09008.HK) had a trading volume of 2.3398 million HKD, Bosera Ether ETF (03009.HK/09009.HK) had a trading volume of 5.89958 million HKD. Previously, on June 6, it was reported that the trading volume of Hong Kong virtual asset ETFs today was approximately 126.9 million HKD.

Ethereum spot ETF saw a net inflow of $327 million last week, continuing 13 weeks of net inflows.

According to SoSoValue data, during the trading week from August 4 to August 8 (Eastern Time), the net inflow for Ethereum spot ETFs was $327 million, notably with all nine ETFs experiencing net inflows. The Ethereum spot ETF with the highest net inflow last week was Fidelity ETF FETH, with a weekly net inflow of $109 million, bringing the historical total net inflow for FETH to $2.37 billion; followed by Blackrock ETF ETHA, with a weekly net inflow of $105 million, currently having a historical total net inflow of $9.85 billion. As of the time of writing, the total net asset value of Ethereum spot ETFs is $23.38 billion, with an ETF net asset ratio (compared to the total market capitalization of Ethereum) of 4.77%, and the historical cumulative net inflow has reached $9.82 billion.

Bitcoin spot ETF saw a net inflow of $247 million last week, with BlackRock’s IBIT leading the way with a net inflow of $189 million.

According to SoSoValue data, during the trading days last week (August 4 to August 8, Eastern Time), Bitcoin spot ETFs had a net inflow of $247 million for the week. The Bitcoin spot ETF with the highest net inflow last week was Blackrock’s Bitcoin ETF IBIT, which had a weekly net inflow of $189 million, bringing its total historical net inflow to $57.79 billion. Following that was Bitwise ETF BITB, with a weekly net inflow of $62.26 million, currently having a total historical net inflow of $2.32 billion. The Bitcoin spot ETF with the highest net outflow last week was Fidelity ETF FBTC, which had a net outflow of $55.18 million, while its total historical net inflow currently stands at $12.03 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $150.7 billion, and the ETF net asset ratio (market value as a percentage of Bitcoin’s total market value) is 6.48%, with a historical cumulative net inflow reaching $54.43 billion.

Since June 22, a certain whale/institution has accumulated a total of 68,000 ETH, with an unrealized profit of 115 million USD.

According to monitoring by @ai_9684xtpa, the whale/institution 0x395…45500 has accumulated 68,000 ETH since June 22, with an average price of 2,597 USD, realizing a profit of 115 million USD in just one and a half months. This address has accumulated ETH from 2,284 USD all the way up to 4,302 USD, and in the past 5 minutes has withdrawn 8,745 ETH from Binance again.

Nansen CEO transferred 1 million LDO to Coinbase half an hour ago and still holds 1 million LDO.

Nansen CEO Alex Svanevik transferred 1 million LDO (146 million USD ( to Coinbase half an hour ago. Alex Svanevik received an investment/advisory allocation of 5 million LDO from Lido in December 2020, and after this transfer, he still holds 1 million LDO.

The 1inch team sold part of their ETH and 1INCH from the investment fund, realizing a profit of 8.36 million USD.

According to on-chain analyst Yu Jin’s monitoring, the 1inch team investment fund has begun selling the ETH and 1INCH previously purchased on-chain. They have currently sold 5,000 ETH at an average price of $4,215 for 21.07 million USDC; and sold 6.45 million 1INCH at an average price of $0.28 for 1.8 million USDC. The ETH and 1INCH sold today have realized a profit of 8.36 million dollars. The ETH was bought in February for 28.85 million USDC at a price of $2,577 for 11,198 ETH; the 1INCH was purchased in July for 15.65 million USDC at a price of $0.253 for 61.76 million 1INCH.

A certain whale/institution has once again increased its holdings of over 200 million USD in ETH, currently holding over 900 million USD in ETH.

According to Onchain Lens monitoring, a certain whale/institution has increased its holdings by 49,533 ETH from Galaxy Digital and FalconX, worth 210.68 million USD. Currently, this whale holds a total of 221,166 ETH, valued at 940.73 million USD, distributed across 6 different wallets. Previously, it was reported that a certain giant whale/institution had accumulated over 170,000 ETH in the past 4 days, approximately 670 million USD.

) Institutional Holdings

French listed company Capital B increased its holdings by 126 BTC, with a year-to-date BTC return of 1519.5%.

The French listed company Capital B tweeted that it has confirmed the acquisition of 126 BTC for approximately 12.4 million euros, bringing its total holdings to 2,201 coins, with a year-to-date BTC return of 1,519.5%.

Strategy’s purchase of Bitcoin celebrates its 5th anniversary, with a stock price increase of approximately 2600%.

According to Cointelegraph, Strategy’s first purchase of Bitcoin marks its fifth anniversary, a move that has helped its stock price soar nearly 2600% since 2020, lifting it out of a 20-year slump. MicroStrategy Inc. (now renamed Strategy) made its first Bitcoin purchase on August 11, 2020, spending $250 million to acquire 21,454 Bitcoins, which founder Michael Saylor referred to as a “new capital allocation strategy.” The company has so far spent $46 billion to acquire 628,791 Bitcoins, making it the company with the largest Bitcoin holdings among all public and private companies, inspiring countless other companies to follow suit in purchasing Bitcoin. These purchases drove MicroStrategy’s stock price ###MSTR( up over 2,595% in the past five years, closing at over $395 last Friday, while five years ago its stock price was less than $15.

The listed company BNC purchased 200,000 BNB, with a transaction amount of approximately 160 million US dollars.

According to Globenewswire, CEA Industries Inc. (NASDAQ: BNC), a publicly traded company, announced that its fund management business BNB Network Company has purchased 200,000 BNB tokens for approximately $160 million, making it the largest BNB holder in the world. Prior to this acquisition, the company completed a $500 million private placement led by 10X Capital and collaborated with YZi Labs to support a BNB-centric funding strategy—BNB has now become the company’s primary reserve asset.