🔻 BTC dip as whales/miners sell
$44M CoinDCX hack via job scam
🔥 HYPE token hits ATH
🚀 ETH rally gaining strength
💵 USDC goes live on Hyperliquid
SEC’s ‘Project Crypto’ for Web3 clarity
💰 Eric Trump’s $367M Bitcoin bet
It’s been a rollercoaster for Bitcoin. After briefly tapping $123K in July, whales and miners have started offloading bags, triggering a wave of profit-taking.
Analysts over at CryptoQuant are calling this the third big sell-off since mid-2024. Options traders are now bracing for a potential 10–30% correction into September.
But before you panic-sell, zoom out. Capriole’s Energy Value model says BTC is still undervalued, and historically, Q4 has been a banger — with median gains of 52%.
Here’s a wild one from India
A CoinDCX employee got tricked by a fake freelance gig, unknowingly downloading malware onto his work laptop. That gave hackers access to the exchange’s liquidity wallet, leading to a $44 million breach.
Deepfake job scams are targeting Web3 pros in India. And with funds scattered across cross-border wallets, law enforcement is struggling to trace the attackers.
🛡 PSA: Be paranoid. Double-check every "gig" offer.
Everyone’s talking about Hyperliquid — and for good reason. Their native token HYPE just hit an all-time high of $45.92, thanks to a big spike in BTC/altcoin trading and a fresh Bybit spot listing.
They’re now boasting $1.85B in open interest, and daily fees just crossed $4.19M — putting Hyperliquid in the top 5 revenue-generating dApps. Whales are stacking, and the tokenomics are strong — with staking, burns, and scarcity fueling demand.
ETH is on the move again — and the setup looks strong:
• Low unrealized profits = less sell pressure
• Over 413K ETH exiting exchanges every week
• 35%+ of ETH supply locked in staking
• ETFs and whales are pouring in
With open interest above $26B, analysts predict a short squeeze toward $3,900+ — and if momentum continues, we could see a full run toward $5K.
Speaking of Hyperliquid — they just got a major upgrade. Circle has brought native USDC to the platform via its CCTP v2 (Cross-Chain Transfer Protocol). This means no more wrapped tokens or sketchy bridges — just fast, clean, native stablecoin transfers across chains.
Since the integration, Hyperliquid’s AUM shot up to $5.5B, and HYPE ticked up another 3%. Circle isn’t slowing down either — they’re also integrating USDC with World Chain, Ant Group, and XRP Ledger. Multichain dominance, anyone?
Yup, you read that right.
The SEC has launched “Project Crypto”, led by none other than Commissioner Hester Peirce (aka “Crypto Mom”). The goal? Modernize securities laws, embrace blockchain, and make the U.S. the global capital of crypto.
This could mean:
Legal clarity on airdrops, staking, ICOs
Support for tokenized securities
Streamlined custody rules
And even on-chain trading + Web3 super-apps
It’s official — the Trump fam is all-in on Bitcoin.
Eric Trump is set to receive 367M shares in Gryphon Digital Mining via a merger with American Bitcoin Corp. That values his stake at a cool $367M. He’ll serve as Chief Strategy Officer, helping steer the company as the U.S. gears up for a new phase in crypto policy. This follows Donald Trump’s pro-Bitcoin stance, calls for a national BTC reserve, and promises of a “golden age of crypto.”
Alright, that’s a wrap for this week's edition of The Web3 Watch! 🚀
See you all next week!