Global #Bitcoin

While Bitcoin (BTC) has long been considered the premier store of value in the crypto world, Ripple's XRP is making a strong case that its superior utility could lead to wider adoption by the end of the decade.

Bitcoin's recent on-chain activity presents a mixed picture of strength and weakness. On the one hand, several indicators point to a resilient market with strong institutional support.

The crypto market is facing significant uncertainty as it enters September.

Bitcoin is struggling to stay above its short-term holder cost basis of around $108,000. The price is facing downward pressure due to expected U.S. Treasury borrowing, which could reduce dollar liquidity.

Upbit, a leading digital asset exchange in South Korea, has announced the listing of WorldLibertyFinancial USD (USD1), a stablecoin.

In a move that solidifies Hong Kong’s growing role as a global crypto hub, the University of Hong Kong (HKU) Business School is getting ready to accept Bitcoin and other digital assets for tuition and donations.

Japanese firm Metaplanet has announced a significant new purchase of 1,009 Bitcoin (BTC) for 16.48 billion yen ($112 million), bringing its total holdings to 20,000 BTC.

Ja​panese gaming firm Gumi Inc. is significantly increasing its investment in cryptocurrency, announcing a plan to purchase ¥2.5 billion ($17 million) worth of XRP over the next five months.

As August ends, cryptocurrency traders are bracing for what has been historically known as "Red September," a phenomenon where markets, including crypto, tend to see negative returns.

Tether, the company behind the largest stablecoin, USDT, has expanded its reach into the Bitcoin ecosystem by making its token available through the RGB protocol.

Spot Ether ETFs are seeing a huge surge in popularity in the U.S., significantly outperforming their Bitcoin counterparts in recent trading.

Bitcoin's recent price drop has raised concerns among investors. A key indicator, the MVRV ratio, has dipped below its long-term average, a signal that has historically preceded price corrections.