Category: Business

Sony-linked Japanese exchange S.BLOX formally enabled trading for Cardano’s $ADA on Monday, Aug. 24, and simultaneously listed $NIGHT, the native token of the Midnight sidechain, Crypto Economy reported.

The listings

S.BLOX operates under Sony On-Chain Technologies Inc., a Sony Group subsidiary that completed its acquisition of the exchange platform in August 2023. Through an announcement on X, the exchange confirmed the immediate availability of $ADA transactions and the listing of $NIGHT. The technical integration lets local users access the new trading pairs inside an environment regulated by Japanese financial authorities.

The addition of $NIGHT marks the first time the token has entered a domestic exchange in Japan, with S.BLOX documentation confirming no other domestic operator had technical support for the asset beforehand. The Midnight protocol launched its mainnet technical operations in March, and the $NIGHT token was issued in December 2025.

Promotions to drive adoption

To encourage uptake, S.BLOX launched two promotional programs: registered users can qualify for rewards of up to 10,000 yen in $ADA and bonuses of up to 14,000 yen in $NIGHT upon meeting the exchange’s operational requirements. The campaigns are scheduled to run throughout August, according to the schedule published on the exchange’s official channels.

Why the listing matters

Cardano founder Charles Hoskinson described the listing as significant given the rigorous technical evaluation and compliance processes required by Japan’s Financial Services Agency, addressing the integration during a recent livestream. Market observers said enabling the assets on a Sony-backed exchange could bolster liquidity for both tokens across the Asian region during the current quarter, and the move gives a major corporate backer a foothold in Cardano’s ecosystem. Cardano has been expanding its footprint in Asia as regulators there formalize digital-asset frameworks, and a listing with a Sony-backed operator gives the network a visible on-ramp for Japanese retail investors. The move also arrives as Japanese exchanges face stricter listing and custody standards than many offshore venues, making domestic approval a meaningful signal for the tokens involved.

The listing arrives even as the shifting U.S. regulatory treatment of Cardano remains in focus for investors.

Benjamin Cowen, a leading analyst in the cryptocurrency market, analyzed recent technical charts and macroeconomic developments affecting Ethereum ($ETH). He highlighted Ethereum’s recent strong rebound, sharing his insights on potential market bottoms and the critical risks facing the crypto asset in the coming period.

Cowen, analyzing Ethereum’s price structure through regression channels and fair value models, stated that the asset reacted from its lows around the $1,500 level. Recalling that similar instances of touching the lower boundary of the regression band have occurred in past cycles, the analyst indicated that the current fair value zone for Ethereum lies between $2,300 and $2,400. However, he added that for the price to sustain its upward momentum, it needs to decisively break above critical technical resistance levels such as the 200-day moving average.

Beyond Ethereum’s individual performance, the analysis specifically highlighted the $ETH/BTC pair, demonstrating its strength against Bitcoin. Cowen stated that the pair breaking above its 20-month moving average is a crucial technical signal, and that this level needs to be sustained. Referring to past false breakouts, the expert said that for the rally to be confirmed, Ethereum must maintain its gains against Bitcoin for the next 1-2 months.

Cowen also touched upon the impact of macroeconomic risks on the crypto market, stating that a potential correction in the S&P 500 index would directly affect the price of Ethereum. While a 10% pullback in the stock market index might be limited to a higher bottom formation in Ethereum, the analyst warned investors that a deeper 20% decline could trigger sharp pullbacks exceeding 50% in $ETH. Highlighting the second half of the year, particularly the end of the third quarter and the fourth quarter, Cowen indicated that a negative signal from the macroeconomic front could lead to one final wave of decline in the crypto market.

*This is not investment advice.

The recent strong surge in Bitcoin’s price signals the beginning of a new bull run in the market, according to the on-chain analytics platform CryptoQuant. The company noted that its Bitcoin Bull Score indicator rose from 30 to 80 in just one week, marking the fastest market regime change in the past year. According to CryptoQuant, the final significant hurdle to officially confirm this new bull market is around $83,000.

Bitcoin has surged approximately 24% since Monday, August 17th, reaching as high as $80,000. This marks BTC’s highest level since May 15th. CryptoQuant attributes the rise to two key macro catalysts that have been strongly priced positively by the market.

The first of these was the US Treasury’s announcement that it would increase the size of its long-term government bond buybacks to at least $4 billion per transaction starting September 9th. The second significant development was US President Donald Trump’s statements suggesting that the US government might consider purchasing Bitcoin.

According to CryptoQuant data, Bitcoin’s valuation indicators have seen a significant improvement. The platform’s Bull Score Indicator jumped from 30 to 80 in a week, reaching its highest level since October 6, 2025. At that time, Bitcoin was trading at approximately $124,000. Eight out of the ten indicators tracked are currently signaling a bullish trend.

Demand-side data also supports the market shift. CryptoQuant reported that apparent spot Bitcoin demand recorded its fastest monthly growth since late December. Furthermore, demand in both the spot and futures markets began growing simultaneously for the first time since early October 2025.

According to the platform, the simultaneous upward turn in valuation, demand, and liquidity indicators suggests that Bitcoin has entered the initial phase of a new bull market. However, CryptoQuant stated that for the change in market regime to be definitively confirmed, Bitcoin needs to close above its 365-day moving average, which is currently around $83,000.

CryptoQuant warned that while the medium- to long-term outlook has improved, the Bitcoin market may be overheated in the short term.

Traders’ unrealized profit margin rose to 20.5%, reaching its highest level since June 2025. Meanwhile, whales achieved a record realized profit of $614 million on August 20th.

Simultaneously, the increase in Bitcoin, Ethereum, and XRP inflows to cryptocurrency exchanges suggests that investors may be moving their assets to exchanges for sale. Therefore, CryptoQuant stated that it would not be surprising if Bitcoin struggled in the resistance zone around $83,000 or experienced a correction typical of the early bull market period.

According to the platform, such a pullback might be a healthy move to digest the recent 24% rally, rather than signaling the end of an uptrend.

CryptoQuant stated in its assessment that the market regime has now turned bullish, but investors should closely monitor the 365-day moving average at the $83,000 level for confirmation of the new bull market.

*This is not investment advice.

POSCO International, South Korea’s largest trading company, is pushing deeper into tokenized trade finance, completing a transaction that turned real-world receivables into digital assets on an Avalanche-based ($AVAX) blockchain network just one month after a similar pilot on Injective.

The firm’s U.S. arm worked with trade finance platform Olea and asset-backed finance technology firm Intain on the transaction, the companies said Tuesday. Intain used artificial intelligence to reconcile invoices, purchase orders, credit notes and shipping documents before verifying and recording the receivables on its Layer-1 network built on Avalanche ($AVAX).

Trade receivables are money owed to a company after it delivers goods but before the customer pays. Companies can borrow against those invoices, but financing often involves reconciling records held separately by buyers, sellers and banks.

Putting the receivable on a shared blockchain ledger creates a common record of ownership and the asset’s status, potentially cutting that paperwork and giving companies quicker access to financing.

The move followed POSCO International’s pilot with LG CNS announced last month to issue, transfer and settle tokenized receivables on Injective. That project also used receivables generated from live trade between POSCO’s overseas subsidiaries and their counterparties.

As Dogecoin ($DOGE) price surged by more than 26% over the past seven days, reaching a market capitalization of $15.27 billion on Tuesday, it retested a major year-to-date (YTD) resistance level.

After its impressive rally last week, $DOGE price has been trapped in a consolidation over the past three days. This large-cap dog-themed memecoin has fallen 2.87% over the last 24 hours, trading at $0.0888 on August 25.

At the time of publication, $DOGE had a reported trading volume for the past 24 hours of nearly $1.2 billion. The token’s 24-hour futures volume was $2.09 billion while its Open Interest (OI), the total unsettled futures in the derivatives market, was at $1.45 billion, according to data from CoinGlass.

Worth noting that Dogecoin’s OI has surged to its highest level since May 16, thus signaling a heating up of its derivatives market.

What’s next for the $DOGE price?

The recent Dogecoin price rally has pushed it to a major YTD resistance logarithmic trend line. The last two times that $DOGE price retested this YTD resistance trend lined resulted in a 40% selloff in the subsequent days.

Dogecoin’s daily Relative Strength Index (RSI) recently surged to its YTD’s peak, currently at 71.60, which signals an overbought condition. On the other hand, the daily Moving Average Convergence Divergence (MACD) line and Signal line have all crossed above the Zero line, suggesting a strong bullish uptrend for the first time since early May, 2026.

From a technical analysis standpoint, if Dogecoin price consistently breaks above its YTD resistance trend, its recent bullish momentum could strengthen. However, if the recent FOMO (fear of missing out) fails to push $DOGE price above its YTD resistance trend line, a potential selloff could be inevitable.

Featured image via Shutterstock

The cryptocurrency projects that generated the most revenue in the last 30 days have been identified. The data reveals the revenue performance of projects operating in different sectors, from stablecoin issuers and blockchain networks to decentralized exchanges and prediction markets.

Stablecoin giant Tether topped the list with $438.9 million in revenue. While Tether’s revenue decreased by 0.1 percent compared to the previous 30-day period, Tron came in second with $224.6 million. Stablecoin issuer Circle was third with $181.5 million.

A significant difference in revenue emerged after the first three projects. The decentralized derivatives exchange Hyperliquid generated $48.6 million in revenue, registering a 25.3% increase over the past 30 days. The memecoin-focused trading platform pump.fun, on the other hand, stood out with $30.7 million in revenue and a 62.3% increase.

The income data for the last 30 days is as follows:

1. Tether – $438.9 million (-0.1%)
2. Tron (TRX) – $224.6 million (-0.7%)
3. Circle – $181.5 million (-1.3%)
4. Hyperliquid (HYPE) – $48.6 million (+25.3%)
5. pump.fun (PUMP) – $30.7 million (+62.3%)
6. Sky (SKY) – $30.5 million (-11.7%)
7. Polymarket – $25.6 million (-29.7%)
8. GMGN – $17.1 million (+159.0%)
9. Axiom Trade – $15.4 million (+59.5%)
10. Ethereum (ENA) – $14.7 million (-1.8%)
11. PancakeSwap (CAKE) – $10.5 million (+18.0%)
12. Grove (GROVE) – $7.2 million (+9.7%)
13. Uniswap (UNI) – $6.1 million (+74.7%)
14. Phantom – $6.0 million (-2.4%)
15. Lido Finance (LDO) – $4.7 million (+15.0%)

GMGN was the most remarkable project in terms of revenue growth. The platform’s revenue trend over the last 30 days increased by 159%, while Uniswap saw a 74.7% increase, pump.fun a 62.3% increase, and Axiom Trade a 59.5% increase.

*This is not investment advice.

The strong rally in the cryptocurrency market in recent weeks has led to a sharp shift in investor sentiment. The Crypto Fear and Greed Index rose to 81 points, reaching its highest level of the year, pushing market sentiment into the “Extreme Greed” zone. Just a month ago, the index was in the “Fear” zone, highlighting the rapid reversal in investor risk appetite. Last week, the index was at 41 points, in the “Neutral” level.

Bitcoin ($BTC) continues its upward trend, trading at $79,252 and gaining approximately 0.67% in the last hour.

However, the Fear and Greed Index in the BitcoinSystem On-Chain Terminal data currently shows a “Greed” level with 74 points.

In derivatives markets, high volatility is noteworthy. According to liquidation data from the last 24 hours, a total of $424.5 million in leveraged positions were liquidated. Of this, $334.2 million consisted of long positions and $90.3 million consisted of short positions.

Bitcoin’s on-chain indicators also provide important signals regarding the current structure of the market. While Bitcoin’s current price is around $53,000, the fact that the market price is significantly above this level suggests that a large portion of investors are in profit-taking.

The MVRV ratio is at 1.49. This value indicates that Bitcoin’s market capitalization is approximately 49 percent above its realized value, but remains below the much higher levels seen during overheated periods of past bull markets.

The Net Unrealized Profit/Loss (NUPL) indicator being at 0.33 also suggests that Bitcoin investors are holding unrealized profits overall. The SOPR indicator being at 1.0193 indicates that, on average, Bitcoins moved on the chain are being spent at a profit. SOPR remaining above 1 is considered a signal that profit-taking by investors is continuing.

The Puell Multiple indicator, which compares miners’ earnings to the Bitcoin price, is at 0.93. The indicator being close to 1 suggests that miner earnings have not yet reached excessively high levels compared to historical averages.

*This is not investment advice.

Blockchain analytics firm Chainalysis said a global operation it led identified more than 7,700 suspect accounts linked to child sexual abuse material (CSAM).

According to a Tuesday press release shared with Cointelegraph, Operation Lighthouse investigated 29,120 crypto addresses and digital identifiers connected to over 100 CSAM platforms, forums and distribution networks across the surface and dark web.

The operation also generated 14,300 investigative leads across 11 crypto exchanges and payment services and flagged suspects across 125 countries. Among the suspects identified were 16 registered sex offenders.

Tom McLouth, senior intelligence analyst at Chainalysis, said the suspect pool also included military personnel, law enforcement officers, medical professionals and educators, including individuals with direct access to children.

“Behind every lead is a real child at risk,” he told Cointelegraph.

The multi-day sprint was hosted at the National Cyber-Forensics and Training Alliance in New York after months of data enrichment. It brought together law enforcement agencies, private-sector partners and specialized nonprofits, including Europol, the UK National Crime Agency, Binance, Coinbase, Block and the Internet Watch Foundation.

Participants used onchain intelligence to develop leads for follow-on legal processes and case development. Chainalysis said the results were expected to lead to arrests, prosecutions and account-level disruption.

Crypto firms expand efforts against child exploitation

Operation Lighthouse follows other efforts by crypto firms and child-protection organizations to expand intelligence sharing around crypto activity linked to exploitation. Europol said joint action was essential because perpetrators exploit financial services, payment systems and internet platforms.

Binance, one of the exchanges participating in Lighthouse, announced a partnership with nonprofit Stop The Traffik in July. The exchange said the organization would provide intelligence, training and insights intended to improve its detection and investigation of crypto activity linked to human trafficking and child exploitation.

Blockchain tracing has previously contributed to enforcement actions in CSAM investigations. In 2019, the US Justice Department announced the takedown of Welcome to Video, described at the time as the largest darknet child sexual exploitation market by volume of content.

Authorities traced Bitcoin payments to locate the website server in South Korea and identify its administrator. The investigation led to 337 users being arrested and charged, the rescue of at least 23 victims and the seizure of about eight terabytes of material.

Chainalysis said its software was used to analyze the transactions and map the site’s users and contributors.

Arthur Hayes, closely followed for his statements and predictions in the cryptocurrency market, made noteworthy assessments for Bitcoin and Ethereum, as well as Ethereum ($ENA) and Ether.fi ($ETHFI). Hayes argued that a new bull market has begun and stated that Maelstrom is taking maximum risk on all four assets.

Arthur Hayes, who stated that he expects a major rise in cryptocurrencies, argues that Bitcoin is poised for a parabolic increase.

In a recent interview on the Altcoin Daily YouTube channel, Hayes claimed that Bitcoin is likely to soon experience a full parabolic rise, and therefore now is the right time to hold the asset.

Hayes added that Bitcoin would quickly reach “hundreds of thousands of dollars” and that anyone worried about the Fed’s control over bond yields should own Bitcoin now.

Highlighting $ENA!

Hayes, who stated that he is optimistic about altcoins as well as Bitcoin, noted that base trading, which profits from the price difference between spot and futures markets, is beginning to revive, and said that this is a positive signal for the crypto market.

However, Hayes noted that interest rates are still too low.

Hayes stated that the reactivation of base trading could be particularly positive for Ethereum ($ENA) and that $ENA still holds significant upside potential.

In his latest blog post, Hayes stated that the Maelstrom fund is also in maximum risk mode and shared the altcoins in their portfolio.

“Bitcoin, Ethereum, Ethena and Ether.fi”

FLOP is an Important Part of a Blog Post!

Hayes also dedicates a significant portion of his latest blog post to his new project, Flop Network.

They state that there is no pre-sale for FLOP, the token cannot be purchased, and useful activities on the testnet are required for the airdrop.

“…I repeat: there is no pre-sale. You cannot buy FLOP. Only those who participate in beneficial ways are eligible. Stay tuned for more information about the airdrop…”

Therefore, FLOP should not yet be considered an existing market position like $ENA or $ETHFI. Hayes positions it more as a new project to be established at the beginning of a new bull market.

*This is not investment advice.

“For over a century, getting a professional model meant handing your assets to a fund,” Bitwise Chief Investment Officer Matt Hougan said. “ATPs mean you can keep the assets in your own wallet, and the model comes to you.”

The announcement comes a day after Coinbase debuted tokenized versions of Apple, Nvidia, Meta and Alphabet on Base. Coinbase said more stocks are coming, and Bitwise’s portfolios offer a hint at potential additions: Microsoft, Amazon, Tesla, SpaceX and Sandisk are also included in its models. Coinbase hasn’t confirmed its next batch.

The products also expand Bitwise beyond the crypto ETFs for which the $9 billion asset manager is best known. It has recently moved into DeFi vault curation, another form of onchain asset management.

Glider, meanwhile, is a specialist of automated portfolios, and earlier this year teamed up with Ondo Finance to offer personalized portfolios using Ondo’s tokenized stock offerings.

Read more: Tokenization mirrors the $20 trillion ETF boom as blockchain and AI converge, Ondo exec says