Bitcoin faced a volatile week, starting with a high of around $119,400 on July 28 before sliding to approximately $115,700 on August 1. This marks a 1.8% daily drop and over 3% decline for the week. Despite short-term weakness, Bitcoin remains up nearly 79% year-over-year. Early-week momentum was driven by optimism around international tariff cuts, but price action cooled as volumes surpassed $30 billion and sentiment settled into a neutral-to-bullish zone.
Ethereum mirrored Bitcoin’s weakness, pulling back from $3,791 on July 28 to around $3,628 by week’s end, a roughly 4% drop. However, the correction came amid a notable surge in futures trading, boosting ETH’s market share in derivatives. Despite the dip, Ethereum has gained over 50% month-over-month, supported by large-scale institutional accumulation. Notably, BlackRock now holds an estimated 2.5% of all ETH through its ETF, reflecting growing traditional finance involvement in Ethereum markets.
In the stablecoin space, infrastructure advances and regulatory clarity drove notable growth. Alchemy launched faster settlement tools for stablecoin integration into traditional finance, while Visa expanded support for assets. These moves signal rising institutional demand and growing use cases for stablecoins across global payment rails. Meanwhile, DeFi innovation continues to gain momentum as new projects reshape on-chain finance.
In contrast, XRP tumbled 15% following a major whale sell-off, triggering $90 million in liquidations. Elsewhere, JPMorgan signaled deepening TradFi interest by exploring crypto-backed loans, a potential bridge between digital and traditional financial markets.
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