to leave a comment.
Hello everyone! I'm an energetic Senior Analyst in the blockchain market. On August 3, 2026, the first Monday of a hot August, our blockchain market is still showing dynamic movements. Will Bitcoin's 'August curse' strike again, or will altcoins write a new reversal drama? Let's analyze it coolly together from now on!
Concerns about Bitcoin's 'August curse,' which saw it decline for four consecutive years, are growing, but it recently recovered to the $63,000 level amid easing tensions in the Middle East and expectations of regulatory relaxation, showing a relief rally. Despite $230 million in Bitcoin ETF fund inflows, the price remained subdued, which can be attributed to dispersed investor sentiment due to the surge in AI stocks. Bitcoin's bullish sentiment is currently at an all-time low, making it a crucial time to watch if it can rebound from oversold territory.
Interestingly, Ethereum is showing stronger performance than Bitcoin. A whopping $365.17 million in institutional funds have flowed into Ethereum ETFs, garnering significant market anticipation. This is a positive sign, once again proving the robust growth and potential of the Ethereum ecosystem. While both Bitcoin and Ethereum appear to be pausing ahead of corporate earnings announcements, Ethereum's surge is noteworthy.
The news that Solana has fallen for 10 consecutive months on a monthly chart for the first time ever might be somewhat shocking. However, its network growth metrics remain positive. Furthermore, with expectations for a Morgan Stanley ETF, there's a prospect of Wall Street funds flowing into Solana, which led to a 2.96% increase. This indicates that despite price declines, a strong foundation can present opportunities from a long-term perspective.
XRP has initiated a 21% rally, spurred by four consecutive months of ETF fund inflows and the XRP Ledger v3.3.0 upgrade. Recent expectations for a major network upgrade and ETF inflows are driving this rebound. Particular attention is focused on whether it can break its four-year streak of August declines and surpass the $1.25 resistance level. While it's positive that the price impact was limited despite 1 billion XRP being unlocked, the support at $1.05 will be a crucial point determining its future direction.
Cardano (ADA) surged by 8.64%, driven by whale buying. The movement of whales, who purchased 240 million tokens in less than a week, is interpreted as a strong bet on breaking past $0.20. Stellar Lumens (XLM) also broke above its 200-day moving average, fueled by protocol upgrades and expectations for real-world asset tokenization, offering hope that it could signal the end of its long-term downtrend.
Dogecoin (DOGE) is preparing to kick off an August rally, with spot net inflows surging by 116%. However, it should not be overlooked that with long positions in futures increasing to 73.96%, the risk of a sharp decline after a surge has also grown. Meanwhile, Shiba Inu (SHIB) saw its net exchange inflows plummet by over 97%, with 2.3 billion SHIB leaving exchanges, suggesting it's entering a 'consolidation phase' rather than a large-scale burn. The news that Shiba Inu is transforming from a memecoin into its own blockchain ecosystem, and that trading volume has surged tenfold due to dormant whale movements, makes its future trajectory even more anticipated.
Pi Coin (PI) showed a reversal, rebounding by 8% even amidst a weak cryptocurrency market. It remains to be seen whether the framework upgrade scheduled for August 11 will sustain this upward trend. HyperLiquid reportedly burned approximately $640,000 worth of HYPE in the last 24 hours, bringing its cumulative burn to 4.62% of the maximum supply. This is a significant event that could positively impact the token's value.
A former chairman of the U.S. Commodity Futures Trading Commission (CFTC) criticized the industry's excessive emotional swings, stating that cryptocurrency innovation would continue even without the CLARITY Act. Grayscale is pressing the Senate to vote on a U.S. crypto market structure bill before the August recess, raising expectations for regulatory clarity. However, the SEC's postponement of Nasdaq's Bitcoin options approval still indicates ongoing jurisdictional disputes among regulatory authorities.
News that researchers at the National Police University under China's Ministry of Public Security have developed a detection algorithm combining artificial intelligence (AI) and large language models (LLMs) to identify illegal money laundering and economic crimes based on virtual assets like Bitcoin with approximately 90% accuracy will contribute to strengthening market transparency. Conversely, the incident where 1,359.88 BTC was stolen due to an entropy flaw in a Coldcard hardware wallet, and even a firmware patch caused errors, once again highlights the importance of security. The U.S. Internal Revenue Service (IRS) phishing warning to cryptocurrency investors also demonstrates that investors should always remain vigilant.
There were reports that Trump Media sold 2,628 BTC, but Trump Media stated that no sale occurred. However, other reports estimate that a total of 7,281 BTC, purchased at an average of $118,522, was sold at an average of $74,855, increasing confusion about Trump Media's Bitcoin strategy.
News that stablecoin issuer Tether generated $1.5 billion in net operating profit in Q2, largely from U.S. Treasury interest, positively impacts the market. Conversely, MicroStrategy's (MSTR) decision to maintain its preferred stock dividend rate at 12% despite an $8.2 billion net loss could raise market questions about its Bitcoin holding strategy.
Microsoft (MSFT) surpassed Nvidia with a $450 billion increase in market capitalization in a single day, and Amazon (AMZN) also hit an AI investment jackpot, recording over $50 billion in book profit. The strong performance of these AI-related companies can create new investment opportunities through integration with blockchain technology. Indeed, Bybit is expanding the link between traditional finance and the cryptocurrency market by introducing tokenized stock leverage collateralized by Nvidia and Apple shares.
Everyone, August has always been an unpredictable month, but this August seems to be even more interesting. It will be exciting to watch whether Bitcoin breaks the 'August curse' and continues its upward trend, or if altcoins will lead the market based on their respective positive news. Please make wise investment decisions by comprehensively considering all factors, including changes in the regulatory environment, the introduction of new technologies, and macroeconomic conditions.
You all know that I never indulge in groundless optimism, right? I will always strive to provide you with the best information by coolly analyzing based on figures and facts. See you in the next column!
to leave a comment.