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Cardano Founder Backs Engineering Collaboration With Ethereum

Lele Jima
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Cardano Founder Backs Engineering Collaboration With Ethereum

Cardano founder Charles Hoskinson has welcomed the possibility of greater engineering collaboration between Cardano and Ethereum, arguing that both ecosystems could benefit from sharing technological innovations.

Speaking in a recent interview, Hoskinson urged Ethereum’s development community to remain open to innovations Cardano has developed over the past several years, particularly its approach to implementing novel smart-contract capabilities on a UTXO-based blockchain.

According to Hoskinson, Ethereum developers could explore these innovations to gain access to new capabilities while also strengthening interoperability between the two ecosystems. 

At the same time, he believes Cardano could benefit if Ethereum adopted some of its technology. In his view, such integration would make it easier for developers to work across Cardano-related projects, including Midnight and other products.

No Financial Ties Required 

Hoskinson described the potential cooperation as a straightforward academic and engineering collaboration rather than a financially driven partnership.

He argued that neither ecosystem would need to transfer money or revisit past disagreements before working together. Instead, both sides could acknowledge useful technological developments and demonstrate a willingness to collaborate.

In his view, greater cooperation could create a more connected developer environment while allowing Cardano and Ethereum to benefit from each other’s technological advances.

Meanwhile, Hoskinson encouraged Ethereum investors and developers to consider why the two communities could not work together to integrate Cardano’s open-source technology.

He suggested that Ethereum developers could collaborate directly with Cardano engineers and potentially develop the necessary capabilities within months. Consequently, he believes technical disagreements or personal conflicts should not prevent the two ecosystems from exploring mutually beneficial solutions. 

Previous Debate Surrounding Ethereum’s UTXO Push

Hoskinson’s comments come amid growing debate over Ethereum’s interest in UTXO-based designs. The discussion intensified in July after an Ethereum researcher published a proposal exploring native UTXO-style payment designs.

The proposal drew attention from the broader Cardano community because some of its concepts resemble design principles that Cardano has already implemented through its Extended UTXO (EUTXO) architecture. 

However, Ethereum co-founder Vitalik Buterin credited Bitcoin for inspiring Ethereum’s exploration of UTXO-based designs rather than directly acknowledging Cardano’s work. Hoskinson initially criticized the lack of recognition, particularly given Cardano’s long-standing use of the EUTXO model. 

Nonetheless, his latest comments signal a more collaborative approach. Rather than allowing past disagreements over technological recognition to deepen the divide, Hoskinson now appears willing to focus on engineering cooperation and the potential benefits of combining ideas from both ecosystems. 

XRP Active Addresses Soar 655% as $1.70 Comes Back Into Focus

Abdulkarim Abdulwahab
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0
XRP Active Addresses Soar 655% as $1.70 Comes Back Into Focus

XRP network activity is exploding as active addresses surge more than 650%, coinciding with the token’s strongest price rally in months.

According to Santiment data, XRP active addresses jumped 654.71%, rising from 47,180 to 356,070. The move marks a major increase in network participation. The network chart showed activity below 50,000 just one week earlier before climbing above 350,000.

Notably, the surge comes as XRP has staged a major recovery from below $1.

XRP Price Surges 49% in a Week

XRP is trading around $1.50 after gaining roughly 49% over the past week. The token was changing hands near $0.9882 last week before accelerating higher and reaching $1.70 on August 22. 

That move represented a gain of more than 70% from the weekly low. Meanwhile, XRP has since pulled back from $1.70 but has largely stabilized around the $1.48-$1.50 area. 

Soaring prices and rising active addresses suggest more addresses are participating in XRP Ledger activity, capitalizing on the ongoing positive momentum.

ETF Demand

The surge in network activity is also happening alongside institutional demand through U.S. spot XRP ETFs. On Monday, XRP ETFs recorded $13.82 million in net inflows, according to SoSoValue data. 

Bitwise accounted for $8.25 million, while Franklin Templeton added about $4.01 million. Canary Capital recorded $1.57 million in inflows, while others, such as 21Shares and Grayscale, saw no new investment. Notably, cumulative XRP ETF net inflows have now reached roughly $1.57 billion.

The latest daily inflow follows a much stronger week for the products. XRP ETFs attracted $39.78 million during the week ended August 21, their strongest weekly performance since mid-May.

XRP ETF | SoSoValue
XRP ETF | SoSoValue

Futures Activity Also Explodes

Derivatives activity provides another indication of how dramatically XRP market participation has increased.

CryptoQuant data showed XRP futures trading volume across Binance, Bybit, OKX and Bitget reached $11.37 billion on August 22. That was the highest level since February 5.

The spike came shortly after large XRP withdrawals from exchanges surged to 231 million tokens, representing a 4.3-fold increase in 48 hours.

The timing is important because the jump in futures activity, large exchange withdrawals, and XRP price rebound all occurred within the same period. XRP had gained roughly 45% during the recovery, putting spot and derivatives activity at some of their strongest levels in months.

Together, the data show that the latest XRP rally has been accompanied by much greater market participation, not just a gradual price recovery.

Where’s XRP Price Headed?

The next challenge for XRP is turning the explosive rebound into a sustained move. XRP rising from about $0.99 to $1.70 and falling back toward $1.50 shows that sellers are still active. Now, the $1.70 level is important. If XRP breaks above it and stays there, the price could move higher. 

Canary Capital CEO Steven McClurg recently said he wouldn’t be surprised to see XRP reach $3.40 within the next year as more institutional lending, credit and yield opportunities develop on the XRP Ledger. 

However, he also warned that the crypto market is still in a bear market and that seasonal and political factors could cause more volatility.

Shiba Inu Veteran Debunks Viral Claims of Full SHIB Ecosystem Starting Over

Lele Jima
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0
Shiba Inu Veteran Debunks Viral Claims of Full SHIB Ecosystem Starting Over

A prominent figure in the Shiba Inu community and advisor to the Shiba Eternity game has pushed back against claims that the entire SHIB ecosystem is preparing for a complete restart.

The speculation gained traction after Shiba Inu figures Shytoshi Kusama and Kaal Dhairya appeared largely silent on social media, particularly on X. As a result, some community members began speculating that the project could abandon parts of its existing infrastructure and rebuild the ecosystem from the ground up.

Claims of a Complete Ecosystem Reset

Community figure RuggRat recently outlined what he described as a major proposal that could fundamentally change Shiba Inu’s direction.

According to RuggRat, the proposal could involve moving away from existing infrastructure and potentially migrating to another blockchain. He also claimed that the project could rebuild ShibaSwap on a new platform while avoiding Shib.io because of its alleged connection to former leadership.

Furthermore, RuggRat claimed that the proposal could remove Zama from the roadmap and force the community to reconsider the roles of BONE, LEASH, and TREAT.

Moreover, he suggested that Shiba Inu could rebuild its governance, products, liquidity, and community infrastructure from scratch. He warned that such a process could take years and would amount to far more than a simple relaunch.

These claims raised concerns among SHIB holders because abandoning established infrastructure could disrupt liquidity, token utility, development plans, and other parts of the ecosystem.

Mazrael Rejects the Claims

However, Mazrael, a veteran Shiba Inu community figure and advisor to the Shiba Eternity game, challenged the narrative.

Responding to RuggRat’s post, Mazrael said the information was false and questioned why the claims circulated despite being inaccurate.

When RuggRat later argued that he could not determine what was true or false because Kusama and Dhairya had allegedly remained silent about Shibarium throughout the year, Mazrael strongly rejected that characterization.

Instead, he highlighted regular updates, stating that Shibarium-related information had been provided at least weekly and often multiple times per week. He also argued that community members had access to official updates and dashboards, while accusing some administrators of muting those communications.

Shibarium Infrastructure Is Still Being Rebuilt

Mazrael further explained that the current work focuses on completing environment migrations and rebuilding infrastructure rather than abandoning the ecosystem.

In particular, he pointed to the new hosting infrastructure on AWS as evidence that development remains ongoing. Additionally, Mazrael rejected the suggestion that Shibarium’s roadmap had been discarded. He specifically clarified that Zama remains on the roadmap alongside PartnerSHIB.

Therefore, his comments suggest that the ongoing changes within the Shiba Inu ecosystem should not be interpreted as a decision to abandon Shibarium, Zama-powered confidentiality, or the broader ecosystem structure.

Hoskinson Reveals $500M in Soft Commitments for Bitcoin DeFi Project on Cardano

Lele Jima
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0
Hoskinson Reveals $500M in Soft Commitments for Bitcoin DeFi Project on Cardano

Cardano founder Charles Hoskinson has revealed that Bitcoin DeFi has already attracted $500 million in soft commitments, with the figure potentially reaching the billion-dollar range as the initiative progresses.

He disclosed the progress during a recent appearance on The Breakdown podcast with David Gokhshtein, highlighting the growing interest in using Bitcoin for decentralized finance while preserving its core identity. 

Bitcoin DeFi Draws $500 Million in Early Commitments

During the interview, Hoskinson said discussions with Bitcoin proponents have generated roughly $500 million in soft commitments for the Bitcoin DeFi project on Cardano. Moreover, he expects the figure to enter the 10-figure range, meaning at least $1 billion, as development and adoption advance.

For context, a soft commitment generally signals an intention to participate or invest, rather than funds already invested in a project.

Nonetheless, Hoskinson views the early interest as a sign that Bitcoin holders, particularly large holders, may have strong demand for DeFi opportunities that allow them to generate additional returns from their BTC. 

Institutions to Drive Early Demand for Bitcoin DeFi 

According to Hoskinson, the initiative seeks to preserve Bitcoin’s core identity while adding a DeFi layer that could make BTC more programmable and useful across decentralized applications. 

Rather than modifying Bitcoin itself, the approach would leverage its security while allowing users to access DeFi opportunities across different blockchain ecosystems.

Meanwhile, Hoskinson expects institutional investors to play a major role in early adoption because they control significant Bitcoin reserves. Retail participation could then follow as the broader B2B2C market develops.

Hoskinson Highlights Bitcoin DeFi Technology Progress

Beyond the funding interest, Hoskinson also pointed to significant improvements in the technology behind the initiative.

He said that when development began, a Bitcoin DeFi proof was 40 GB in size. According to his latest figures, developers have reduced that size to just 28.1 MB. Similarly, he noted that the time required to validate a Bitcoin DeFi proof has fallen from about 354 seconds to 0.149 seconds. 

The reported cost reduction is equally notable. Hoskinson said validating a transaction previously cost around $14,000, while the current figure stands at $37.

Notably, Hoskinson emphasized that the technology is open source, allowing developers and other participants to inspect and test the software rather than relying solely on his team’s claims. 

After roughly a year of open-source development, he believes the technology could eventually make Bitcoin DeFi significantly easier to access. Ultimately, his vision is for Bitcoin holders to click a button and earn yield on their BTC without changing Bitcoin itself. 

Midnight Secures Sony-Backed Japanese Exchange Listing as Cardano Founder Hails Milestone

Lele Jima
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0
Midnight Secures Sony-Backed Japanese Exchange Listing as Cardano Founder Hails Milestone

NIGHT, the native token of Cardano’s privacy-focused sidechain Midnight, has officially launched on S.BLOX, a Japanese crypto exchange operated by a Sony Group company.

According to the Midnight Foundation, the listing marks the first time a Japanese crypto exchange has supported NIGHT. S.BLOX also confirmed that it is the first domestic crypto asset exchange operator in Japan to handle NIGHT as of August 24, 2026.

The listing represents another important milestone for Midnight as the project expands its presence across Asia. More importantly, it gives Japanese users access to NIGHT through a domestic cryptocurrency exchange.

S.BLOX Launches NIGHT Campaign

To celebrate the listing, S.BLOX has launched a commemorative NIGHT campaign running from August 24 through September 30, 2026. 

Customers who purchase at least ¥50,000 ($314) worth of NIGHT during the campaign can receive NIGHT points based on their total purchase amount. The rewards increase based on the amount purchased, with regular rewards reaching up to ¥10,000 ($62.79) worth of NIGHT.

Meanwhile, customers who open a new S.BLOX account during the campaign can receive an additional new-account bonus worth up to ¥4,000 ($87.91) worth of NIGHT points in total.

For example, a new account holder who purchases ¥200,000 ($1,255) worth of NIGHT during the campaign can receive ¥10,000 in regular rewards plus a ¥4,000 new-account bonus. That would bring the total potential reward to ¥14,000 worth of NIGHT points.

Hoskinson Highlights Major Midnight Milestone

Cardano founder Charles Hoskinson also highlighted the importance of the listing. He revealed that he had previously teased a major Japanese company that Midnight wanted to work with.

Hoskinson praised Sony as a major Japanese corporation and identified S.BLOX as its cryptocurrency-focused arm in Japan. He emphasized the challenges of securing liquidity and exchange listings in Japan. According to him, Cardano previously took several years to establish meaningful liquidity in the Japanese market.

Against that backdrop, he said the NIGHT listing is significant because it introduces Midnight’s privacy-preserving infrastructure to Japan through S.BLOX.

NIGHT Dips 4.79% in 2 Hours 

Despite the major exchange listing, NIGHT has yet to record the immediate price surge some investors might have expected.

At press time, NIGHT is down 4.79% over the past 24 hours and trades at $0.01948. Nonetheless, the token remains up 13.15% over the past week, indicating that it has maintained a broader short-term upward trend despite the latest daily decline.

XRP Will Be the Winner for Financial Rails Due to Centralization: Top CEO

Abdulkarim Abdulwahab
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0
XRP Will Be the Winner for Financial Rails Due to Centralization: Top CEO

Canary Capital CEO Steven McClurg has made a strong case for the role of XRP Ledger (XRPL) in the future of institutional finance.

He argued that the XRP Ledger’s centralized characteristics are an advantage, not a weakness. Speaking during a recent interview on the Paul Barron Network podcast, McClurg said he believes XRP will ultimately emerge as the leading protocol for financial rails used by institutions.

“XRP will be the winner for financial rails,” McClurg said during the discussion. His comments come as the XRP Ledger expands beyond payments. Ripple, Clearpool, and Cicada Partners are working to build an institutional lending and credit market on the network.

McClurg: Institutions Need Centralization

Notably, one of the biggest criticisms of XRP and the XRP Ledger is that they are less decentralized than networks like Ethereum.

However, McClurg believes this may not be a problem for financial institutions. He says banks and large companies often prefer more centralized systems because they offer greater control, compliance, and predictability.

“When you’re looking at financial rails that institutions use, they want centralization. They need centralization,” he said.

While retail users may prefer highly decentralized networks, institutions have different needs. McClurg believes this gives XRP an advantage as blockchain technology expands into regulated lending, payments, and tokenized assets.

Institutional Lending Could Boost the XRP Ledger

McClurg made these comments as Ripple, Clearpool, and Cicada Partners work to bring institutional lending to the XRP Ledger.

The project will use RLUSD for lending and provide financing to fintech companies, payment firms, and crypto businesses. Clearpool will handle the lending infrastructure, while Cicada will manage credit and borrowers. Ripple will invest alongside other institutions.

Notably, the project is still under development and testing.

Meanwhile, McClurg believes this could have a bigger impact than simply adding another lending product. He says allowing users to earn returns on the XRP Ledger will attract more capital to the network.

“With the XRP Ledger having the ability to produce a yield, it’s going to attract a lot more capital,” he said.

McClurg Sees XRP Above $3.40

When asked where XRP could be in 12 months, McClurg offered a notably bullish forecast.

“It wouldn’t shock me 12 months from now to see XRP above $3.4,” the Canary Capital CEO said.

McClurg was similarly optimistic about the potential size of the institutional lending opportunity developing on the XRP Ledger. Asked whether the market could reach $1 billion or $2 billion, McClurg suggested it could become “probably even more,” while stressing that the market is still in its early stages.

Ultimately, the very feature critics have historically questioned—XRP’s comparatively centralized structure—may be one of its biggest advantages, according to McClurg, if financial institutions prioritize control, compliance, and reliability over full decentralization.

And if more institutional capital flows onto the XRP Ledger, he believes XRP will win the race to build blockchain-based financial rails.

XRP Bulls Hit by Strongest Liquidations Since October 10 as Price Dips 16%

Abdulkarim Abdulwahab
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0
XRP Bulls Hit by Strongest Liquidations Since October 10 as Price Dips 16%

XRP bulls suffered one of their biggest liquidation events of the year on August 22, as long positions were wiped out at levels not seen since October 2025.

According to CryptoQuant author Amr Taha, XRP long liquidations reached $38.58 million on August 22. That was the highest level since October 10, 2025. It came within just $720,000 of the $39.3 million recorded during that earlier liquidation event.

Notably, on August 22, XRP price hit $1.70 but retraced to $1.42 shortly after.

Imbalance between XRP Bulls and Bears

The latest data also showed a sharp imbalance between bulls and bears. Short liquidations totaled just $6.5 million, meaning long liquidations were nearly six times larger. 

Specifically, long positions accounted for 85.6% of the $45.08 million in total XRP liquidations recorded during the event.

Meanwhile, the structure was very different from October’s liquidation wave. On October 10, XRP long liquidations reached $39.3 million, but short liquidations were also substantial at $24.8 million.

This time, the overall liquidation figure was almost 30% lower than October because short liquidations were down by roughly 74%, even though long liquidations nearly matched the previous peak.

Binance Shows a 9-to-1 Long Liquidation Imbalance

The shift was particularly pronounced on Binance. Taha reported that XRP long liquidations on the exchange reached $12.63 million, compared with only $1.4 million in short liquidations.

That created a roughly 9-to-1 imbalance in favor of long liquidations, with longs representing about 90% of Binance’s total XRP liquidations.

The contrast with October 10 was striking. During that earlier event, Binance recorded $21.1 million in short liquidations against $9.82 million in long liquidations.

Compared with October, Binance’s XRP long liquidations on August 22 were 28.6% higher, while short liquidations plunged 93.4%.

The imbalance was not limited to Binance. Exchanges outside Binance recorded approximately $25.95 million in XRP long liquidations, compared with $5.1 million in shorts, producing another roughly five-to-one imbalance.

XRP chart by CryptoQuant
XRP chart by CryptoQuant

XRP Price Dip

Notably, the ongoing liquidation comes after XRP price surged 70% to $1.70 from its yearly low of $0.9882, which it hit last week. The surge occurred within just a few days last week.

Given the rapid turnaround, many traders became overconfident and took long positions in XRP. However, the price retraced 16% and is trading at $1.50 at press time.

For context, when large numbers of long positions are liquidated, forced selling can accelerate a price decline as exchanges close leveraged positions. The unusually large gap between long and short liquidations therefore suggests that the latest move caught a significant number of bullish traders on the wrong side of the market.

However, liquidation data alone does not determine XRP’s next direction. It primarily shows where leveraged traders were forced out of their positions.

Despite the recent dip, XRP maintains impressive weekly gains of 50% and a monthly upside of 38%.

MSTR Heads for Fourth Straight Gain as Bitcoin Rally Adds an Estimated $12.2 Billion in Market Value

Albert Brown
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0
MSTR Heads for Fourth Straight Gain as Bitcoin Rally Adds an Estimated $12.2 Billion in Market Value

Strategy (MSTR) shares advanced more than 34% from their August 18 close as Bitcoin’s recovery increased the value of the company’s 840,447 BTC holdings by approximately $11.1 billion.

Strategy Inc. (Nasdaq: MSTR) traded at $124.20 on Monday, up 4.15% and heading toward its fourth consecutive positive session.

The August 24 price was an intraday quote not an official closing price. MSTR must finish above Friday’s $119.25 close for the four-session winning streak to be confirmed.

MSTR Advances 34% in Four Sessions

MSTR entered the current run after closing at $92.52 on August 18. Its subsequent performance was:
Date MSTR price Daily change Status
Aug.
19 $104.25 +12.68% Official close
Aug.
20 $112.39 +7.81% Official close
Aug.
21 $119.25 +6.10% Official close
Aug.
24 $124.20 +4.15% Intraday

 

The stock gained $31.68 per share, or 34.24%, from the August 18 close to Monday’s quoted price. Historical market data confirms the first three completed gains.

Using the latest published estimate of 384.23 million shares outstanding, the $31.68 increase represents approximately $12.17 billion in additional equity value on a constant-share basis.

At $124.20, the same calculation places Strategy’s market capitalization near $47.72 billion. Strategy’s share statistics list approximately 384.23 million total shares outstanding.

The $12.17 billion figure is an estimate rather than a reported accounting amount. Strategy issued millions of additional shares during the filing period, and the company did not disclose how many shares were sold on each day. Therefore, its exact market-capitalization change cannot be calculated from the publicly available data.

Bitcoin Adds About $11.1 Billion to Strategy’s Holdings

MSTR’s advance coincided with a major Bitcoin recovery.

Bitcoin closed near $64,681 on August 18 before rising to approximately $77,846 on August 24, an increase of more than 20%. The cryptocurrency also reached a three-month high near $79,464 on August 21. Bitcoin historical data confirms the price movement.

Strategy reported holding 840,447 BTC as of August 23. Applying the August 18 and August 24 Bitcoin prices produces the following estimated values:

  • Value at $64,681 per BTC: approximately $54.36 billion
  • Value at $77,846 per BTC: approximately $65.43 billion
  • Increase: approximately $11.07 billion

Strategy acquired its Bitcoin for an aggregate cost of approximately $63.36 billion, equivalent to an average purchase price of $75,385 per token.

At a Bitcoin price of $77,846, the holdings were worth approximately $2.07 billion more than their reported acquisition cost.

The company made no Bitcoin purchases or sales between August 17 and August 23, leaving its entire 840,447-BTC position exposed to the market recovery, according to Strategy’s August 24 SEC filing.

Bitcoin ETFs Record Five Consecutive Inflow Sessions

Demand for US spot Bitcoin exchange-traded funds also strengthened during the rally.

The funds recorded five consecutive sessions of net inflows from August 17 through August 21:

  • Aug. 17: $297.6 million
  • Aug. 18: $189.3 million
  • Aug. 19: $517.2 million
  • Aug. 20: $606.3 million
  • Aug. 21: $307.5 million

Combined inflows reached approximately $1.92 billion. August’s month-to-date total stood near $2.4 billion across the first 15 trading sessions, according to August Bitcoin ETF flow data.

Bitcoin’s advance from approximately $64,700 to more than $78,000 occurred during those five consecutive ETF inflow sessions.

MSTR Rallies Despite $2 Billion in New Share Sales

Strategy’s latest filing disclosed that the company sold 18,261,118 MSTR shares through its at-the-market program between August 17 and August 23.

The sales generated approximately $2.0065 billion in net proceeds, equivalent to an average of roughly $109.88 per share.

The shares sold represented approximately 4.75% of Strategy’s latest estimated total share count. However, the filing did not provide a daily breakdown showing exactly when the shares entered the market.

Strategy allocated the proceeds as follows:

  • $136.4 million funded the repurchase of 1,431,212 STRC preferred shares.
  • $300 million was added to the existing USD Reserve.
  • The remaining proceeds were placed in a newly established USD Cash account.

As of August 23, Strategy reported a $5.10 billion USD Reserve and $1.59 billion in USD Cash.

The new cash account may be used for Bitcoin purchases, securities repurchases, debt repayments, preferred dividends or other corporate treasury purposes.

MSTR’s price advance therefore occurred during the same reporting period in which Strategy raised more than $2 billion by issuing common shares.

MSTR Trading Volume Nearly Triples

Participation increased substantially during the three completed positive sessions.

MSTR recorded approximately:

  • 49.18 million shares traded on August 19
  • 46.99 million shares traded on August 20
  • 45.08 million shares traded on August 21

The three-session average reached approximately 47.08 million shares per day. That was about 2.8 times the 16.91 million shares traded on August 18.

MSTRB Tokenized Stock Follows the Rally

Strategy Tokenized bStock, trading as MSTRB, was quoted near $120.14 at the captured market time.

The token traded between $116.46 and $121.76 over 24 hours and generated approximately $9.59 million in volume. Its token market capitalization stood near $27.03 million, based on roughly 225,053 MSTRB in circulation, according to CoinMarketCap.

MSTRB can also be traded against USDT on Binance.

MSTRB provides economic exposure linked to Strategy shares but trades under different hours and liquidity conditions. Its quoted price and 24-hour percentage change can therefore differ temporarily from the underlying Nasdaq-listed stock.

The Verdict

MSTR’s advance from $92.52 to $124.20 represents a 34.24% increase and an estimated $12.17 billion rise in market value on a constant-share basis.

Over the same period, Bitcoin’s recovery added approximately $11.1 billion to the value of Strategy’s 840,447-BTC position. The rally coincided with $1.92 billion in five-day spot Bitcoin ETF inflows and occurred despite Strategy raising $2.01 billion through the sale of 18.26 million common shares.

The fourth consecutive MSTR gain will only become official if the stock closes Monday above Friday’s $119.25 closing price.

BitMine Stock Adds $1.2 Billion as Ethereum Rally Lifts Holdings to $14.9 Billion

Albert Brown
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0
BitMine Stock Adds $1.2 Billion as Ethereum Rally Lifts Holdings to $14.9 Billion

BitMine Immersion Technologies shares surged Monday after the company disclosed that its cryptocurrency, cash and investment holdings had climbed to $14.9 billion.

BMNR traded at $24.83 as of 11:34 a.m. ET, up 8.76% from Friday’s $22.83 close. The stock opened at $23.60, while approximately 34.9 million shares had changed hands.

Using the 603.23 million shares, BitMine’s estimated market capitalization reached $14.98 billion.

The $2 increase in BMNR’s share price added approximately $1.21 billion to the company’s market value during Monday’s session.

Why Is BitMine Stock Rising Today?

The identifiable catalyst was BitMine’s latest treasury update, released at 8:30 a.m. ET.

BitMine said its combined cryptocurrency holdings, cash, marketable securities and investments totaled $14.9 billion as of August 23. That represents a $3.5 billion, or 30.7%, increase from the $11.4 billion reported one week earlier.

The company’s holdings included:

  • 5,847,611 ETH valued at $2,440 each
  • 210 Bitcoin
  • $308 million in cash and marketable securities
  • A $180 million investment in Beast Industries
  • An $89 million investment in Eightco Holdings

BitMine acquired an additional 32,447 ETH during the week. Its Ethereum position now represents approximately 4.8% of ETH’s reported circulating supply of 120.7 million tokens, according to the company’s August 24 announcement.

Ethereum Rally Drives Most of the Increase

Most of the weekly increase in BitMine’s reported holdings came from Ethereum’s higher market price rather than newly purchased tokens.

BitMine valued its 5,815,164 ETH at $1,893 each in its August 17 update. The latest announcement used a price of $2,440.

Applying the $547 increase to the previous Ethereum balance produces a gross valuation gain of approximately $3.18 billion.

The additional 32,447 ETH was worth roughly $79 million at BitMine’s latest reference price. Cash and marketable securities also increased from $78 million to $308 million, while the reported value of the Eightco investment rose from $73 million to $89 million.

Ethereum gained approximately 30% during the week, its strongest weekly performance since May 2025, according to BitMine.

Holdings Nearly Match BitMine Market Capitalization

At BMNR’s intraday price of $24.83, BitMine estimated $14.98 billion market capitalization was only about $80 million above the company’s reported $14.9 billion in holdings.

The two figures were separated by less than 1% at the captured share price.

However, the $14.9 billion figure represents gross holdings rather than net asset value. It does not deduct liabilities or preferred stock claims and includes investments whose values can fluctuate.

BitMine reported that 5,067,309 ETH were staked. Those tokens were worth approximately $12.4 billion using the company’s $2,440 reference price.

The number of staked tokens was unchanged from the previous week, but their reported value increased from approximately $9.6 billion because of Ethereum’s price appreciation.

BMNR Heads Toward a Fourth Consecutive Gain

Monday’s advance placed BMNR on course for its fourth consecutive positive session.

The stock gained 10.72% on August 19, 6.57% on August 20 and 5.84% on August 21. From its August 18 closing price of $18.28 to Monday’s intraday quote of $24.83, BMNR had advanced 35.83%.

Based on the current share count, that increase added approximately $3.95 billion to BitMine’s estimated market capitalization.

The fourth consecutive gain will only be confirmed if BMNR finishes Monday above Friday’s $22.83 closing price.

BitMine Tokenized Stock Also Rises

BMNRB, the tokenized BitMine stock available through Binance, traded near $22.93 on a separate market feed, gaining approximately 0.9% over 24 hours.

The token recorded approximately $3.9 million in daily trading volume and had a circulating market capitalization of about $4.3 million, according to CoinMarketCap.

BMNRB’s market capitalization represents only the circulating value of the tokenized product. It should not be confused with BitMine’s corporate market value.

The BMNR and BMNRB prices were captured from separate feeds and at different times. Different trading windows, liquidity levels and spreads can cause their quoted prices and percentage changes to diverge temporarily.

The Verdict

BitMine Monday rally followed a verified increase in its reported holdings to $14.9 billion, the acquisition of another 32,447 ETH and Ethereum’s 30% weekly advance.

The most important driver was the revaluation of BitMine’s existing Ethereum position. Approximately $3.18 billion of the company’s $3.5 billion weekly increase can be attributed to the higher price applied to the ETH it already held.

BitMine gross holdings nearly matched its common-stock market capitalization at Monday’s captured price. However, investors should not treat that comparison as net asset value because the holdings figure does not deduct liabilities or preferred stock claims.

XRP ETFs Pull in Nearly $40M, Marking Best Week Since May

Sam Wisdom Raphael
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0
XRP ETFs Pull in Nearly $40M, Marking Best Week Since May

XRP ETFs recorded nearly $40 million in inflows last week, marking their strongest weekly performance in three months. 

Notably, the impressive showing came as XRP recovered and recently moved back above the $1.40 level during a broader market recovery that allowed most assets to reclaim some of their losses last week.

XRP ETFs Post Strong Weekly Inflows

For the week ending Aug. 21, XRP ETFs recorded exactly $39.78 million in inflows, according to data from Sosovalue, a leading market analytics platform. 

However, the week started slowly, with the products recording zero flows on Aug. 17. Inflows then reached $5.81 million on Aug. 18, before falling to $2.35 million the next day. At the time, XRP had yet to fully benefit from the broader market rally that started at the start of the week.

Interestingly, XRP’s price action improved on Aug. 19, when the token gained 10.40%. The rally continued on Aug. 20, with XRP rising another 14.68% and closing above $1.26. 

Expectedly, the improving price action resulted in an increase in investor interest, as XRP ETFs recorded $13.24 million in inflows on Aug. 20. At the time, this marked their largest single-day inflow since June 29.

XRP ETFs See Record Weekly Volume

The momentum continued on Aug. 21, when XRP ETFs attracted $18.38 million in inflows. This was the largest daily inflow of the week and made a major contribution to the final $39.78 million weekly total.

The last time XRP ETFs recorded weekly inflows of this size came during the week ending May 15, when the products attracted $60.5 million. Although last week’s figure fell short of the May total, it still marked the ETFs’ strongest weekly performance since then.

XRP ETFs Weekly Flows
XRP ETFs Weekly Flows | Source: Sosovalue

XRP ETFs also recorded much higher trading activity last week than they did in May. Their total weekly trading volume reached $271 million, while investors added $39.78 million to the products. By comparison, the week ending May 15 recorded only $137.21 million in total trading volume, even as inflows reached $60.5 million.

Last week’s $271 million trading volume also set a new weekly record for XRP ETFs since their launch in November 2025. The figure surpassed the previous record of $218.97 million, set by the products during the week ending Jan. 9, 2026.

Six-Week Inflow Streak

The latest results also extended XRP ETFs’ weekly inflow streak to six consecutive weeks, despite XRP’s continued price struggles. Since mid-July, the products have recorded positive weekly flows, although most of the weekly totals remained relatively small.

For instance, XRP ETFs saw $1.01 million in inflows during the week ending Aug. 7 and $2.25 million during the week ending Aug. 14. Daily flows have also remained positive throughout August, with only one trading day producing an outflow.

This exception came on Aug. 5, when XRP ETFs recorded $3.58 million in outflows. Apart from that session, August has so far produced either positive or neutral daily flows, confirming steady ETF demand despite the price struggles.

The steady inflows have pushed cumulative net inflows into XRP ETFs to $1.55 billion, setting a new all-time high. Meanwhile, total net assets have also climbed to $1.33 billion.

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