🚀Altcoin Treasuries Surge, Bitcoin Drags

CONTENTS

• The Wrap Up
• Overview in This Market
• Movement in the Top 8
• This Week’s Narrative
• Key Advancements
• DeFi Brief
• Memes in Motion
• Fundraises
• Airdrop Buzz
• The Wrap Down

THE WRAP UP

Bitcoin slipped this week as Ethereum surged ahead. Market-wide, gains were modest, with liquidation spikes knocking out over-leveraged longs. While BTC couldn't hold momentum past $120K, Ethereum led with strength as several majors cooled off.

OVERVIEW IN THIS MARKET

What This Means & The Impact
Bitcoin (BTC) ended the week down 1.18%, while Ethereum (ETH) gained 7.17%. The total market cap rose 1.83% to $3.944T. Over $1B in long positions were liquidated midweek, highlighting volatility and overexposure. Funding rates eased slightly.

• Michael Saylor’s Strategy acquired 6,220 BTC ($740M)
• Strategy also launched STRC, a preferred stock offering tied to BTC holdings
• SharpLink Gaming added 79,959 ETH, boosting ETH treasury narratives

Movement in the Top 8 Tokens (7-Day % Change)

• Bitcoin (BTC) – ↓ 1.18%
  • Struggled near $120K ceiling.
  • Risk-off sentiment + long liquidations pushed it lower.
  • Whales steady, but momentum weakened.
• Ethereum (ETH) – ↑ 7.17%
  • Strong rally on institutional treasury purchases.
  • Dominance in L2s and staking.
  • Rotation away from BTC → ETH seen as preferred treasury asset.
• XRP – ↓ 8.52%
  • Sharp sell-off due to weak ecosystem activity.
  • Ripple Labs’ legal uncertainty weighed on sentiment.
  • Lack of catalysts amid broad altcoin weakness.
• BNB – ↑ 12.36%
  • Led majors with double-digit gains.
  • Growth in BNB Chain DEX volume and Binance launchpad usage.
  • Benefiting from exchange utility + seasonal trading events.
• Solana (SOL) – ↑ 1.02%
  • Flat despite strong fundamentals (TVL, app growth).
  • No fresh catalysts limited breakout.
  • Builders remain active.
• Dogecoin (DOGE) – ↓ 12.01%
  • Steep drop as meme coin sentiment weakened.
  • Decline in trading volumes.
  • Still highly retail-driven; upside tied to speculative hype/Elon Musk.
• TRON (TRX) – ↑ 2.76%
  • Modest gains from stablecoin (USDT) transaction growth.
  • Lack of innovation capping further upside.
• Cardano (ADA) – ↓ 6.50%
  • Fell on stagnant developer + DeFi activity.
  • Some social traction, but capital rotated into higher momentum plays.

What This Means & The ImpactMore divergence is showing among the top 8 tokens. ETH and BNB carried strength from sustained inflows and platform activity, while XRP and ADA saw heavier drawdowns. BTC stalled after failing to reclaim momentum, and DOGE continues to bleed out from prior speculative surges.

THIS WEEK’S NARRATIVE

What This Means & The Impact
Ethereum and Bitcoin treasury companies are now being joined by altcoin treasuries as microcap firms and SPACs look for a new angle.

• MEI Pharma launches a $100M LTC-focused treasury strategy
• TGLY Acquisition plans $360M investment into ENA
• Bit Origin eyes $500M DOGE treasury raise

These moves signal the rise of altcoins being legitimized not just as speculative plays, but as strategic corporate assets.

KEY ADVANCEMENTS

What This Means & The Impact

• Polymarket acquires a CFTC-regulated exchange to return to the US
• EigenLayer launches Redistribution to enhance slashing incentives
• Kaito launches Capital Launchpad, integrating social metrics
• Sanctum introduces Gateway to optimize Solana transactions

Polymarket’s US re-entry is significant, possibly opening up prediction markets to wider adoption under compliance.

DEFI BRIEF

What This Means & The Impact

• Anchorage Digital integrates Ethena’s USDtb, fully GENIUS Act compliant
• World Liberty Financial alters vesting, upsetting early token holders
• Fluid DEX Lite debuts, cutting gas usage and adding fee layers

DeFi continues to push toward usability and compliance, especially in the US where regulation is intensifying.

MEMES IN MOTION

What This Means & The Impact

• Pump.fun now rewards community takeover leaders with creator fees
• Let’s Bonk commits 1% of revenue to token buybacks

Meme culture is evolving. These shifts introduce sustainability mechanics that go beyond pump-and-dump.

FUNDRAISES

What This Means & The Impact

• Poseidon (AI x data layer) raised $15M from a16z crypto
• Delabs Games secured $17.2M for Web3 gaming
• Courtyard raised $15M for collectibles marketplace
• Freename raised $6.5M for Web3 domains

Builders continue to raise in specific verticals like AI, gaming, and identity - aligning with evolving Web3 demand.

AIRDROP BUZZ

What This Means & The Impact

• PUMP token airdrop delayed, per founder Alon

Airdrop fatigue is growing, and user disappointment often follows delays. Transparency is key for community-driven projects.

THE WRAP DOWN

This week reminded us that momentum can fade fast. Ethereum still shows signs of leadership strength, but altcoin rotations are getting tighter. Treasuries, both corporate and personal, are leaning harder into strategic allocation. Expect a quieter August unless macro data or ETF flows surprise.

Your Trusted Crypto Research Team
Crypto Research Australia – CRA
"Markets don’t wait for clarity. They reward preparation."

‍