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Cryptocurrency market review: Cardano's chief technology officer leaves, Gray withdraws ETF applica

2026-08-11 00:42:32
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The cryptocurrency market has opened a new week, accompanied by mixed signals of institutional progress and ecological adjustment. Bitcoin remained above $65,000, while altcoins performed mixed. Let's take an in-depth look at today's major encryption news.

New York Stock Exchange promotes blockchain plan

The New York Stock Exchange is advancing its blockchain plan to build an on-chain settlement platform for tokenized securities. President Lynn Martin announced the move after the NYSE participated in DTCC's tokenization pilot. The platform aims to connect traditional finance with decentralized finance through blockchain infrastructure development. This is a big step towards bringing trillions of dollars in traditional assets onto the blockchain track.

Bitcoin ETF's strongest weekly inflow since April

U.S. Bitcoin exchange-traded funds experienced their strongest weekly inflow since April due to heightened security concerns following the Coldcard hardware wallet breach. The incident turned attention to institutional products as a more secure hosting solution, while increasing awareness of self-hosting risks. Several major ETFs, including BlackRock's IBIT and Fidelity's FBTC, recorded daily inflows of funds after the hacking. This timing signals a shift from self-custody to regulated products.

Coinsbuy suffered cyber attack and lost more than US$8 million

Coinsbuy suffered a cyber attack that resulted in more than $8 million in losses due to unauthorized capital losses on the Ethereum and Wave Field networks. On-line analysts, including Specter, are actively tracking and freezing stolen assets. The incident highlights ongoing security challenges in the encryption ecosystem. Exchanges and custodians remain the main targets of hackers.

Grayscale withdraws ETF application, hedge fund turns into net long Bitcoin futures

Grayscale Investments has withdrawn its ETF registration applications with the U.S. SEC for Cardano (ADA), Hedera (HBAR) and Polkadot (DOT). Although these specific applications will not move forward, Grayscale still retains active applications for other altcoin ETFs. This move reflects the adjustment of product supply strategy. Grayscale is prioritizing assets with stronger institutional needs and regulatory clarity.

According to CryptoQuant, hedge funds moved into net long positions in Bitcoin futures on CME. This change in position indicates increased bullish sentiment among institutional traders, who use the CME regulated platform to trade bitcoin derivatives. A shift from net short to net long is an important indicator of sentiment. Agencies are preparing for higher prices.

PUMP token unlocking attracts attention

Buyers cut the multiple of PUMP because the token profits when followers buy after a call and subsequent callers withdraw. Because of this turnover, Pump funds are now being destroyed, but repeated reversals have reduced the Retention rate and support for future destruction. On August 12, 6.875 billion PUMPs will be unlocked, accounting for approximately 1.7% of the circulating supply. Unlocking may create selling pressure if the holder decides to take a profit. Traders are paying close attention.

Cardano Foundation CTO leaves

The Cardano Foundation announced that Giorgio Zinetti will leave the foundation on August 31. Zinetti joined as chief technology officer in 2024 and has contributed to the foundation's work over the past two years. The foundation said it remains committed to promoting continued development to connect Cardano with the world. The technical team will continue to work under the existing roadmap.

Strive increased its holdings in Bitcoin

Strive (ASST) purchased an additional 147 bitcoins and currently holds a total of 20,167 BTC. The company continues its accumulation strategy and increases its corporate treasury.

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