News & Research

Cryptocurrency investor sentiment shifted back to “Greed” in a single day following dovish comments from U.S. Federal Reserve Chair Jerome Powell, Cointelegraph reported. After Powell’s speech at the Jackson Hole symposium, the probability of a September rate cut surged above 90%, up from about 75% prior to the address. Broader markets also responded positively, with Bitcoin rising 5% and Ethereum climbing 11% to new all-time highs.

Tom Lee, founder of U.S. research firm Fundstrat and chair of Nasdaq-listed BitMiner (BMNR), said in a recent interview with The Compound that Ethereum’s (ETH) market capitalization has a very high probability of surpassing Bitcoin’s (BTC), Benzinga reported. He compared the scenario to 1971, when the U.S. abandoned the gold standard, noting that while many focused on gold, Wall Street emerged as the real winner. Lee added that institutional inflows from Wall Street could drive ETH to rise up to 100 times, potentially allowing it to flip BTC in market cap. BitMiner, which has formalized an ETH accumulation strategy, reportedly holds about 1.52 million ETH, making it the largest Ethereum treasury globally. The remarks come as ETH recently surged near all-time highs following U.S. Federal Reserve Chair Jerome Powell’s dovish comments on potential September rate cuts.

The hacker who stole $53 million from DeFi protocol Radiant Capital (RDNT) in October 2024 has reportedly doubled the value of the stolen assets through Ethereum (ETH) swing trading, according to on-chain analyst @EmberCN on X. Following the theft, 21,900 ETH were acquired at an average price of $2,420 for storage. On Aug. 14, the liquidation of ETH began. Three days ago, 4,914 ETH were purchased at an average price of $4,167 and 3,931 ETH were sold on Aug. 23 at $4,726, converting the proceeds into roughly $18.57 million in DAI. Holdings currently total approximately $104 million in ETH and DAI, including 13,300 ETH and 42.03 million DAI.

Japan’s Financial Services Agency (FSA) plans to include cryptocurrency tax reform in its 2026 tax revision proposal, BeInCrypto reported, citing Japan's local news outlet Nikkei. The proposal is expected to combine tax changes with stricter regulations and could pave the way for crypto-linked exchange-traded funds (ETFs). The FSA intends to recommend moving crypto from comprehensive taxation to the same category as equities, which are taxed separately at a 20% flat rate. Currently, crypto gains are treated as “miscellaneous income” and subject to progressive rates that can exceed 50% when local taxes are included. The agency also aims to reclassify crypto as a financial product, enabling investor protections and disclosure requirements under the Financial Instruments and Exchange Act.

Monarq Asset Management CIO Sam Gaer expects Ethereum (ETH) to surpass $5,000 following U.S. Federal Reserve Chair Jerome Powell’s dovish remarks at the Jackson Hole symposium, which bolstered expectations for a September rate cut. Gaer said Bitcoin (BTC) and ETH are poised for new highs without signs of overheating, supported by strong institutional inflows and options market signals favoring ETH.

The combined Ethereum (ETH) holdings of 69 firms that have formalized ETH accumulation have exceeded 4.1 million ETH ($19.43 billion), according to data from Strategic ETH Reserve. These holdings represent roughly 3.39% of the total ETH supply, with Bitmine leading at 1.5 million ETH, followed by SharpLink Gaming with 740,000 ETH and The Ether Machine with 345,000 ETH. Meanwhile, ETH spot ETF issuers collectively hold about 6.5 million ETH ($30.81 billion), accounting for 5.38% of supply.

Trish Turner, the head of the IRS cryptocurrency division in May, has resigned after three months, CoinDesk reported. The move follows the departure of two other senior officials in the division, which CoinDesk linked to budget cuts under U.S. President Donald Trump’s administration. The exits come as the IRS anticipates a rise in cryptocurrency-related inquiries and filings. Turner is expected to join private crypto tax firms, serving as tax director at CryptoTaxGirl and working with U.K.-based Asset Reality.

Ethereum (ETH) futures open interest across major global crypto exchanges exceeded $70 billion on Aug. 23, reaching an all-time high, according to CoinGlass data. Binance accounted for $14.15 billion, followed by CME with $10.27 billion. The surge coincided with ETH hitting a record high earlier in the day and continued institutional inflows into U.S. spot ETH ETFs on Aug. 22. At the time of publication, ETH is trading at $4,752.82, up 10.81% in the past day, according to CoinMarketCap.

BitMEX founder Arthur Hayes asserted in a recent interview that Ether (ETH) could rise to between $10,000 and $20,000 before this current cycle ends. He stated: “The chart says it’s going higher. So I can’t fight the market. I think ETH goes $10,000- $20,000 before the end of the cycle.” He believes the market will be buoyed by massive monetary expansion, including increased dollar supply in the U.S.

On-chain analyst @ai_9684xtpa said on X that a seven-year dormant Bitcoin “OG” who rotated into Ethereum (ETH) has about $74.7 million in unrealized gains in three days. The trader withdrew 93,402 ETH since Aug. 20 at an average $4,284 and now holds 105,599 ETH (about $495 million) across two main wallets. Five ETH-long accounts on Hyperliquid show roughly $45 million in paper profits.