# 🎉 Happy 10th Birthday, Ethereum! *As we celebrate a decade of ETH, here’s what happened this week in Web3 🚀 * By [The Web3 Watch by Central DAO](https://paragraph.com/@centraldao) · 2025-08-01 --- ### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/2705.png) TL;DR – This Week’s Web3 Watch Recap: ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f53b.png) BTC dip as whales/miners sell 🧑‍💻 $44M CoinDCX hack via job scam ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f525.png) HYPE token hits ATH ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f680.png) ETH rally gaining strength ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f4b5.png) USDC goes live on Hyperliquid ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f1fa-1f1f8.png) SEC’s ‘Project Crypto’ for Web3 clarity ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f4b0.png) Eric Trump’s $367M Bitcoin bet * * * ### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f433.png) Bitcoin Faces the Heat, But Q4 Could Be Fire ![](https://storage.googleapis.com/papyrus_images/d33c90f88edbd5a60e246abd917043be.png) 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%. * * * ### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/26a0-fe0f.png) Inside the $44M CoinDCX Hack: Job Scam Gone Wrong ![](https://storage.googleapis.com/papyrus_images/00da7a50f1ed85b5926ac7852e0d30c1.jpg) Here’s a wild one from India ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f1ee-1f1f3.png) 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. ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f6e1-fe0f.png) PSA: Be paranoid. Double-check every "gig" offer. * * * ### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f525.png) HYPE Hits ATH — Hyperliquid’s Breakout Moment ![](https://storage.googleapis.com/papyrus_images/eeb085bc9a80609ed991fc9b631bbc69.png) 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. * * * ### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f680.png) Ethereum Eyes $5K as Spot Demand Surges & Short Squeeze Looms ![](https://storage.googleapis.com/papyrus_images/ae22a31268ddd6fe4b02765fbe61067d.gif) 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**. * * * ### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1fa99.png) Native USDC Goes Live on Hyperliquid ![](https://storage.googleapis.com/papyrus_images/4fac71c36014a1f35503ba5f0b1febac.png) 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? * * * ### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f1fa-1f1f8.png) SEC Goes Full DeFi Mode with “Project Crypto” ![](https://storage.googleapis.com/papyrus_images/d5ebe5c388029d71b487bf99bebe0d57.png) 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** * * * ### ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f1fa-1f1f8.png) Eric Trump’s $367M Bitcoin Bet Signals Full Crypto Backing from Trump Family ![](https://storage.googleapis.com/papyrus_images/453ecacb3619d1a37ab783ab9e0425d0.png) 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.”** * * * ### 🤣 MEME OF THE WEEK 🤣 ![](https://storage.googleapis.com/papyrus_images/f73aa1bd672890e24669dbb01aeef783.png) why stable coins are down too ? Alright, that’s a wrap for this week's edition of **_The Web3 Watch_!** ![](https://cdn.jsdelivr.net/npm/emoji-datasource-apple/img/apple/64/1f680.png) See you all next week! [Join Central DAO](https://t.me/+oJ8dE9ZEB1thMGU1) --- *Originally published on [The Web3 Watch by Central DAO](https://paragraph.com/@centraldao/%F0%9F%8E%89-happy-10th-birthday-ethereum)*