SnapShot 223

Hello SnapShotters,

The market’s neutral mood gave way to one of optimism this week, as the Federal Reserve’s (Fed) September policy call draws closer. Nonfarm payrolls added just 22,000 positions in August against forecasts of 75,000, while unemployment ticked up to 4.3%, the highest since 2021. It helped push the odds of a rate cut up to 90%.

BTC rose to a seven-day high of US$116K, supported by steady ETF inflows and anticipation of a likely rate cut. ETH held flat at $4.3K, before climbing to $4.5K, as data showed ETH reserves on exchanges plunging to a low. The common belief is that a move off exchanges may point to a decision to hold assets for a longer period. 

The greater push came from alts: In particular, DOGE rallied more than 22% to reach a seven-day high of $0.26, with momentum potentially aided by Rex-Osprey’s launching of the first Dogecoin ETF. 

The possibility of ‘altszn’ also intensified with the SOL’s rise to $237, a high not seen since seven months ago. It was reported that Nasdaq-listed Forward Industries kickstarted a $1.65 billion Solana Treasury plan.

U.S. spot BTC ETFs pulled in $124M over the past five sessions — down from $441M the week prior — while spot ETH ETFs swung to a hefty $952M outflow, erasing last week’s inflows.

Here are the other big stories out of the crypto mill.

Market Spotlight

Note: Market prices captured in USD at the time of sending. Explore more on Crypto‌.com/Price. 

Want more? Get weekly Market and DeFi Updates from Crypto.‌com’s Research Team.

News Snaps

📊 MCGA Is Now Trading on Nasdaq

Yorkville Acquisition Corp.’s common stock is now trading on Nasdaq under the new ticker symbol, “MCGA”. MCGA will transfer to Trump Media Group CRO Strategy, Inc., a digital asset treasury company focused on the acquisition of the native cryptocurrency token of the Cronos ecosystem (CRO), upon the closing of the previously announced business combination.

🔺 TRON Flips Cardano in Market Cap

TRON (TRX) is up 31% year-to-date (YTD), nudging its market cap to around $31.3B and pushing it ahead of Cardano (ADA). TRX is now the ninth largest token by market cap.  

🪙 Hyperliquid Plans Native USDH Stablecoin

Hyperliquid (HYPE) is advancing plans for USDH, with validators voting on who will build it. The design ties 4% of treasury yield to HYPE buybacks, while the likes of Paxos, MoonPay, Frax, and Stripe’s Bridge are competing for the rights to issue USDH. 

🟣 SharpLink May Stake Part of Its ETH Treasury
ETH treasury giant SharpLink may stake part of its $3.6B ETH holdings on Layer-2 Linea, after the network’s September 10 mainnet launch. Co-CEO Joseph Chalom said the firm is looking “beyond just vanilla, native staking through custodians” to pursue higher risk-adjusted yields.

🇸🇻 El Salvador Commemorates Key Anniversary

El Salvador stockpiled another 21 BTC to mark the fourth anniversary of its Bitcoin Law, boosting state reserves to 6,313 BTC, worth about $701M. 

What’s Ahead

🇸🇬 October  1 to 2: TOKEN2049 Singapore

Set against the Singapore Grand Prix and staged across five floors of Marina Bay Sands, the world’s largest crypto summit is expected to feature a “pop-up city” of bold activations, and draw in more than 25,000 attendees across hundreds of side events.

Number of the Week

Source: CoinTelegraph

Chart of the Week

ETH’s Reserves on All Crypto Exchanges

ETH reserves on centralized exchanges have dropped 38% over the past three years, from 28.8M ETH in September 2022 to an all-time low of 17.3M ETH this month.

This took place as ETH climbed above $4,500; the inverse relationship between the price hike and reserves dip paints a picture of longer-term holding or institutional custody rather than active trading. 

Spot ETH ETF inflows have reached $13B since launch, and corporate treasuries are holding over 3.6M ETH.

As of September 7, 2025

Source: CryptoQuant, Crypto.com Research

Research & Insights

ETH in TradFi’s Sights

Ethereum has emerged as the institutional chain of choice, with Wall Street viewing it as the “biggest macro trade of the next decade.” 

ETH’s edge in security, liquidity, and compliance-ready standards like ERC-3643 have drawn interest, while also noting risks from centralized staking and a long upgrade roadmap. 

With $8.3B in tokenized real-world assets (RWA) and over 3% of supply now in corporate treasuries, ETH’s moat is deepening. But sustaining it will require scrutiny into the network’s scaling and proof of value.

Will Ethereum hold its lead as TradFi’s preferred on-chain bet? Or are rivals waiting to close the gap?

🔎 Read the full report

Crypto Trivia

What was the final public message ever posted by Satoshi Nakamoto?

A) “I’ve moved on to other things.”
B) “HODL.”
C) “BTC will change everything.”

Find the correct answer at the end of this newsletter. 👇

NFT Spotlight

Play as a gun-toting bovine in a Fortnite-style world with ‘Cows Gone Mad: Founder's Edition’, a drop that blends NFTs and gripping gameplay.

ColonelPonce, the team behind the ambitious project, comprises gamers, builders, and storytellers who aim to create the next big Web3 game.

Collectors stand to win a one-of-a-kind NFT, in-game rewards, physical artwork, and more*.

*Eligible holders only. Terms and Conditions apply.

Hoof it to the virtual battleground and browse the collection today!

Product Updates

Trade With Up to 100x Leverage in the Onchain Wallet With Moonlander

Moonlander has arrived in Crypto.com Onchain, allowing you to trade with up to 100x leverage on over 40 pairs across BTC, ETH, SOL, CRO, and more. Getting started only takes a few steps, making trading on the go easy. For a limited time, pay zero trading fees! Trade Now.

New Tokens

Linea (LINEA)

Linea is an Ethereum Layer-2 blockchain developed by Ethereum’s open-source community including Consensys, utilizing zero-knowledge Ethereum Virtual Machine (zkEVM) rollup technology to enhance scalability, reduce transaction costs, and increase throughput while preserving Ethereum’s security and decentralization. 

This is informational content only and should not be considered as an investment recommendation. Some Crypto.com products may not be available in some jurisdictions.

Crypto Learn

XRP vs Sui: Payments Veteran Meets Next-Gen Chain

XRP has years of payment innovation behind it, while Sui is carving out a new future for Web3 apps. How else do two of the largest Layer-1 players stack up?

XRP has been around since 2012, designed for fast, low-cost cross-border payments. Backed by Ripple, it’s widely integrated with financial institutions aiming to streamline remittances and settlements.

Sui, launched in 2023, is built for scalability and user-friendly experiences. With its novel “object-based” data model, Sui enables high-speed transactions and supports applications like gaming, DeFi, and NFTs.

While XRP focuses on institutional adoption and payments, Sui pushes toward consumer applications and Web3 innovation. Both highlight the diverse directions blockchain can take: One rooted in financial rails, the other in building interactive digital economies.

Take a closer look at how XRP and Sui compare in this University article.

CryptoIRL

@Cryptorockstar4 Piloting destiny with the Visa Debit Card 

Hashtag #CryptoIRL with your Crypto.‌com Card on your social profiles to get featured! Your 15 minutes of fame in the #CROFam awaits you!

Security Tips

Man Sentenced in $37M Crypto Fraud

A California man has been sentenced to 51 months in prison after running a multi-million dollar romance crypto scam, part of a broader U.S. Department of Justice crackdown on digital asset fraud. 

The scheme targeted victims on dating apps and social platforms, building trust before pitching fake investment opportunities.

Once funds were sent, the money was diverted into personal accounts instead of crypto investments. Meanwhile, scammers would tell victims that their investments were appreciating in value. 

How to keep your money safe:

1. Be wary of investment pitches on dating or social media apps.
2. Don’t be quick to trust strangers online.
3. Never send funds or share wallet access with someone you haven’t met in person.
4. Stick to regulated exchanges and trusted platforms for investments.

Crypto Trivia Answer

C) “I’ve moved on to other things.” ✅

Satoshi left this note in 2011 and vanished from the internet. The message marked the end of his public involvement in Bitcoin, and the start of an endless mystery.

That's it for this week's SnapShot. Want more? Find out what’s trending in the crypto world.