Crypto Assets Market Dynamics and Industry Development

Market Trends

A well-known investment writer stated on social media that Bitcoin could drop below $90,000 due to the "August curse." He emphasized that if the price falls, it will increase Bitcoin investment. The writer believes that the problem with Bitcoin does not lie within itself, but rather with the enormous debt in the United States and the management issues of the relevant departments. He also mentioned that he recently participated in several financial education activities to learn about future trends, and he believes that the potential decline of Bitcoin will benefit most investors.

Analysts point out that the Bitcoin bull market has entered its later stages, with investors' risk appetite gradually decreasing. Data shows that related indicators broke 1.9 in March and December 2024, but have recently formed lower peaks, with holders actively selling, putting pressure on the market. Although investors are still making profits, the marginal gains from each price increase are gradually diminishing. In the context of the Federal Reserve's expected two rate cuts this year, it is predicted that there will be two more rebounds in this cycle, followed by a possible adjustment phase.

Another analyst observed that long-term Bitcoin holders are still in a solid profit zone, demonstrating strong confidence in holding their coins. Short-term holders, on the other hand, are fluctuating around lower profit levels, indicating that there may be some selling or short-term pressure during the price increase. Currently, the Bitcoin price is approaching the $104,000 area, primarily supported by the confidence of long-term holders. The overall trend remains bullish, but short-term holders may trigger periodic pullback pressure.

In the past few weeks, Bitcoin has fallen below the key technical support level of $112,000, leading to a shift in market sentiment. Analysis indicates that this round of decline has continued the seasonal weakness seen in August, while being affected by macro uncertainties triggered by downward adjustments in labor market data. The current market has priced in two rate cuts, with the first cut potentially landing in September. Before improvements in economic and market fundamentals, risk assets may continue to show weak performance.

Project Updates

The world's largest decentralized gaming guild network has announced the establishment of a new Onchain Guild and allocated 50 million tokens (worth approximately $7.5 million) to the ecological fund pool to explore revenue generation strategies. This ecological fund pool adopts a decentralized structure and exclusively uses guild assets for dedicated transactions, without accepting third-party capital or providing investment services.

A co-founder of a well-known project stated that in order to ensure long-term sustainable development, they have decided to reduce the size of the contributor team, affecting about 15% of the staff. This decision is purely based on cost considerations and reflects a commitment to sustainable growth, operational focus, and alignment with the interests of token holders.

According to reports, traditional banks have invested over $100 billion in blockchain since 2020. Despite regulatory uncertainties and market volatility, major banks are increasing their investments in custody, tokenization, and payment infrastructure. 90% of surveyed financial leaders believe these technologies will have a significant or huge impact on finance in the next three years.

A certain Ethereum Layer 2 network has surpassed Solana in daily token issuance. This change is mainly driven by a decentralized social platform, whose "creator token" model transforms content into tradable assets. After the transformation of related applications into a SocialFi entry, the relevant tokens have increased by over 500% in the past month.

The Cardano community has approved a proposal called "IOE Roadmap" with a support rate of 74.01%. This proposal will utilize approximately 96,817,080 ADA (about 71 million USD) from the treasury funds to support the development of the core protocol, focusing on technological upgrades in scalability, developer experience, and interoperability.

Important Data

The investment products for digital assets experienced a net outflow of $223 million in the past week, marking the first negative value in 15 weeks. Despite recording an inflow of $883 million at the beginning of the week, the fund flow reversed later due to the Federal Reserve's hawkish signals and strong U.S. economic data, with over $1 billion flowing out on Friday alone. Bitcoin led the decline, with an outflow of $404 million during the week, but its year-to-date net inflow remains at $20 billion.

Last week, the net outflow of Bitcoin spot ETFs was $643 million. The Bitcoin spot ETF with the highest net inflow for the week was a product from a well-known institution, with a weekly net inflow of $355 million. The ETF with the highest net outflow for the week was from another well-known institution, with a net outflow of $444 million. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $146.48 billion, with an ETF net asset ratio of 6.46%. The historical cumulative net inflow has reached $54.18 billion.

A certain synthetic stablecoin's market value has reached 9.293 billion USD, with a growth of 75.13% in the past month. It is currently the third largest stablecoin by market value, only behind USDT and USDC.

Financing/Aquisition

A large bank in France has acquired a minority stake in a financial technology company to support the launch of a blockchain exchange. This exchange aims to simplify equity financing and listing processes for small and medium-sized enterprises, becoming the first tokenized exchange based on blockchain in Europe. The platform is currently awaiting approval for its DLT trading and settlement system under the EU pilot program, which, if approved, will allow companies to issue, trade, and settle financial instruments directly on the distributed ledger.

Institutional Holdings

A Japanese nail salon chain announced plans to hold 21,000 coins by the end of March 2027 and to raise 2 billion yen (approximately 13.54 million USD) in August to acquire more coins. The company has purchased about 165 coins within two weeks of launching its coin reserve strategy.

A publicly listed company in Japan announced that it has invested approximately 53.7 million USD to repurchase 463 coins at a price of about 115,895 USD each. As of August 4, 2025, the company holds 17,595 coins, with a total acquisition cost of approximately 1.78 billion USD, and an average purchase price of about 101,422 USD per coin.