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Hello, everyone! I'm back, your energetic senior analyst for the blockchain market. Today, August 10, 2026, was a day filled with truly diverse news in the market. Even amidst seemingly complex market conditions, I'll break down the key points we should focus on in an easy and engaging way!
Recently, the market has been showing unpredictable movements, much like a rollercoaster. But as I always say, what's important is a cool-headed analysis based on unshakeable facts and data. Let's go through the major news together and forecast the future of the market.
First, let's look at the news about our leader, Bitcoin. Recently, renowned economist Robin Brooks argued that Bitcoin is not a safe-haven asset or a store of value, emphasizing that it is not included in the asset class that benefits from currency depreciation. This has reignited the debate over Bitcoin's role.
Additionally, the Bitcoin BIP-110 soft fork experienced a setback, halting after just two blocks were mined. This was an attempt to restrict non-payment data in Bitcoin transactions, but the majority of the community opposed it, viewing it as an attempt at censorship. It's perhaps natural for technological development to involve such growing pains.
However, even amidst these negative developments, Bitcoin is demonstrating remarkable resilience. Pong Le, CEO of Strategy, stated that Bitcoin has proven its steadfastness despite various adversities such as cold wallet hacks and legislative delays. The news that Morgan Stanley bet $400 million by buying Bitcoin for three consecutive days is a good sign, showing sustained interest from institutional investors.
In particular, Cathie Wood, CEO of Ark Invest, predicted that Bitcoin's relative value against gold is stabilizing, and that Bitcoin and stablecoins will be the biggest beneficiaries in the transition to 'agentic commerce,' an AI-driven form of commerce. This suggests the possibility that Bitcoin could establish itself as a core component of a new economic paradigm, beyond just digital gold.
In the altcoin market, individual projects are experiencing sharply contrasting fortunes. Zcash (ZEC) finally broke its 9-year bearish trend against Bitcoin (BTC), seizing an opportunity for a rebound. This demonstrates that certain altcoins can gain independent upward momentum through decoupling from Bitcoin.
For Ethereum (ETH), there's positive news that exchange holdings have decreased by approximately 10% this year, reducing the amount immediately available for sale in the market. Simultaneously, a 210% surge in USDT inflows is a good sign, indicating strengthening buying pressure for Ethereum.
On the other hand, Ripple (XRP) is in a somewhat complex situation. With September 15 being cited as a 'day of destiny' to determine whether it breaks $1.18 or falls to $0.95, bearish bets on XRP retesting the $1 mark are increasing on the prediction market platform Kalshi. Despite XRP spot ETFs recording net inflows for four consecutive weeks, inflows are rapidly cooling, and long position liquidations are overwhelmingly surpassing short positions, with liquidation imbalance soaring to 2,809%, indicating the need to be wary of short-term volatility.
However, news that XRP (Ripple) whales have accumulated 380 million tokens and a monthly buy signal has appeared can be interpreted as a positive sign from a long-term perspective. What's crucial is the correlation between Ripple's growth and the XRP price. While Ripple's institutional business is expanding, some analyses suggest this doesn't directly impact the XRP price, necessitating a cautious approach from investors.
The blockchain market is heavily influenced by macroeconomic conditions and the regulatory environment. While the US crypto market structure bill has been pushed to September, lowering its chances of passing this year to 22%, it is not expected to be scrapped. There are also predictions that the SEC will fill the void, suggesting that a regulatory vacuum might not be entirely negative.
Global economic conditions are also noteworthy. China's largest gold purchase in three years led to an 8% rebound in gold prices within a week. This demonstrates continued high interest in traditional safe-haven assets, along with demand for inflation hedging. Bank of America warned that stock market optimism is excessive and that the allocation to risky assets should be reduced, which could indirectly impact the cryptocurrency market.
Meanwhile, the advancement of AI technology is injecting new vitality into the blockchain market. 'Tokenized stocks'—allowing 24/7 trading of equities like Tesla and Nvidia—have grown fourfold this year, driving explosive growth in the RWA (Real World Asset tokenization) market. Raoul Pal emphasized that the true value of cryptocurrencies lies in AI-agent-led financial infrastructure, predicting that the synergy between blockchain and AI will be central to future finance.
Amidst these trends, US households, weary of inflation, are supplementing their living expenses by utilizing cryptocurrency cashback. This is a positive sign that cryptocurrencies are gradually integrating into daily life and gaining mainstream adoption. Although Upbit's trading volume has fallen below 400 billion won, deepening the 'trading drought,' the expanded use of blockchain technology in the long term will strengthen the market's foundation.
Today, we've explored various news items from the blockchain market. Bitcoin is building a solid foundation despite several negative factors, and the altcoin market is seeing mixed fortunes depending on the capabilities of individual projects. While macroeconomic conditions and the regulatory environment still carry uncertainties, new technological trends like AI and RWA are offering limitless opportunities to the blockchain market.
The market is constantly changing and evolving. It's crucial to read market trends through cool-headed analysis based on facts and figures, rather than unfounded optimism. I sincerely support you in making wise investment decisions and continuing a successful blockchain journey even amidst these complex market conditions. See you in the next column!
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