SnapShot 219

ETH rallies to 2021 levels

Hello SnapShotters,

This past week witnessed a trio of events that catapulted the crypto market: Ether’s big rally, Bitcoin’s new all-time high, and the release of the U.S. Consumer Price Index (CPI) data. 

Unseen since the 2021 bull run, ETH shot past US$4,700, putting it in close proximity to its all-time high. This prompted Standard Chartered to raise its ETH year-end forecast to $7,500.

BitMine Immersion Technology, one of the top corporate ETH holders, was seen doubling down on its treasury plans by raising $20B through stock offerings, aiming to amass up to 5% of ETH’s total supply.

The rally spilled over to BTC, which recorded a new all-time high of $124K, as well as the broader ERC-20 space, with LINK and SOL among the big winners.

The return of risk appetites across crypto, equities, and commodities was evident from the announcement of CPI data. Inflation rose 2.7% year-on-year in July, bolstering expectations of a Federal Reserve (Fed) rate cut in September. 

ETF flows echoed the bullish shift: U.S. spot BTC ETFs pulled in $253M after a week of outflows, while spot ETH ETFs saw $327M in new capital, more than double the previous week.

Let’s turn our attention to the other headliners in the crypto world.

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

🇸🇻 El Salvador Opens Bitcoin Banking to Institutions

El Salvador has passed a law allowing financial institutions holding $50M or more in capital to qualify as investment banks, and seek licenses to offer BTC-denominated services to “sophisticated investors” with more than $250K in liquid assets. 

🏦 Paxos Revives U.S. Trust Bank Bid

Paxos, issuer of PayPal’s PYUSD stablecoin, is seeking a federal trust bank charter from the U.S. Office of the Comptroller of the Currency. If approved, it will get broader regulatory credibility and faster payment settlement capabilities. Circle and Ripple made similar applications last month.

🇰🇷 South Korean Investors Pivot to Crypto Stocks

South Korean retail traders are shifting from Big Tech stocks to crypto-linked equities, with ETH treasury giant BitMine topping July’s overseas stock purchases at $259M. Analysts tie the trend to the U.S. GENIUS Act’s influence on stablecoin adoption.

🐶 $25M BONK Treasury for Nasdaq-Listed Safety Shot

Safety Shot (SHOT) has taken a 10% revenue stake in Solana-based meme coin launchpad Bonk.fun, adding $25M in BONK to its treasury. The deal includes preferred shares convertible into common stock, and a pledge to reinvest 90% of Bonk.fun revenue into BONK purchases. 

🤝 Crypto.com Expands Digital Asset Treasury Services

Crypto.com hit two milestones this week in its full-suite digital asset treasury offering, securing partnerships with Aditxt and VivoPower to provide custody for both companies’ digital asset holdings.

What’s Ahead

🔭 August 21 to 23: Jackson Hole Symposium

The Fed’s annual Jackson Hole Symposium will see Chair Jerome Powell outlining inflation, interest rate, and economic policy views. A dovish pivot may lift crypto, while a hawkish stance could strengthen the U.S. dollar and pressure digital assets.

Number of the Week

Source: Cointelegraph

Chart of the Week

As of August 10, 2025

Sources: The Block, CoinGecko, Crypto.com Research

📈 Ethereum Daily Transactions Hit All-Time High

Ethereum’s seven-day average daily transactions surged to a record 1.74M on August 5, topping the previous peak of 1.66M set in May 2021. The milestone follows last month’s block gas limit hike to 45M for higher throughput. 

On August 11, ETH broke $4,300 for the first time since 2021.

Research & Insights

Alpha Navigator, the July Recap

📊 Alpha Navigator: July 2025 Market Recap

July was a milestone month for digital assets: Total crypto market cap breached $4T for the first time, BTC hit new ATHs, and ETH surged over 52% as institutional flows poured in. BTC and ETH ETFs pulled in $6B and $5.4B in net inflows, respectively, while corporate ETH treasuries neared $10B.

Macro forces also shaped sentiment: UK cut rates, Trump announced new tariffs, and U.S. CPI rose 2.7% year-on-year. Layer-1 and Layer-2 tokens rallied across the board, led by CRO (+79.2%), LINK, SOL, and XRP.

For pair traders, ARB/OP and DOT/ATOM showed the strongest correlations, while the BTC/ETH price ratio shifted in ETH’s favor.📥 Dive into the full report for performance screens, event calendars, and actionable macro insights: Read the full Alpha Navigator – July 2025

Crypto Trivia

Which virtual currency is often seen as the spiritual predecessor to BTC?

A) World of Warcraft Gold
B) RuneScape GP
C) Neopoints

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

NFT Spotlight

In a world where magic and technology were once suppressed by a shadowy cabal, the last living system reawakens in ‘REBORN: Reclaim’, fusing man, machine, and beast into new forms to instill justice. 
Born from the imagination of veteran illustrator Manut Hutsadam, the collection is driven by his limitless creativity and experience across multiple artistic mediums. Collectors can mint over 2,222 unique NFTs and stand a chance to win rewards*.

*Eligible jurisdictions only.  Terms and conditions apply.

Reclaim what has been lost. Shop the drop today.

Product Updates

Earn Up to $50,000 of CRO in the Onchain Referral Rush

The inaugural Referral Rush campaign is live! Invite your friends to join the Onchain community, and earn from a reward pool of $50,000 in CRO. You can refer as many friends as you wish, and receive up to $5 of CRO for each when they complete three simple tasks. The campaign ends once the reward pool is fully claimed, so don’t miss out! Join the campaign now.

New Crypto Basket: Staking Big 3

Introducing the Staking Big 3 Basket, which consists of CDCETH, CDCSOL, and LCRO. You can enjoy the benefits of staking and the flexibility of liquidity, track the basket’s performance separately from your other holdings, and easily set up Recurring Buy. Check it out now. 

The Loaded Lions: Mane City Unchartered Blitz Is Coming Soon!

Gear up for the second Blitz of the third Loaded Lions: Mane City competitive season, where you stand to win from a starting prize pool of $25,000 worth of CRO and NFTs. In addition, 100% of diamond spend will be added to all prize pools, with 70% allocated to this Blitz. The Unchartered Blitz takes place from 22 to August 29. Start playing Mane City now. T&Cs apply.

New Tokens

Succinct (PROVE)

Succinct is a decentralized network where provers compete to create secure, fast, and affordable zero-knowledge proofs for programs. It is designed using SP1, a zero‑knowledge virtual machine (zkVM) that enables developers to use standard coding languages like Rust.

Snek (SNEK)

Snek is a meme coin built on the Cardano blockchain, designed to foster a vibrant community through humor, virality, and playful engagement. As the leading token in the Cardano ecosystem, it stands out with community-driven projects, innovative features, and an ecosystem of products for gradual adoption.

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

Meme Coin Heavyweights: Shiba Inu vs Pepe

Shiba Inu (SHIB) and Pepe (PEPE) are both top meme coins by market cap, but their journeys couldn’t be more different.

SHIB launched in 2020 as an Ethereum-based token inspired by the Shiba Inu dog breed. Over time, it’s grown into a full ecosystem, complete with a decentralized exchange, NFT projects, and a Layer-2 blockchain.

PEPE, which debuted in 2023, takes inspiration from the internet-famous Pepe the Frog, turning online culture into a tradable token. It is purely community-driven with no official roadmap, thriving on viral momentum rather than building structured utility.

Both rely on strong communities, but SHIB leans into utility-building, while PEPE thrives as a cultural phenomenon.Interested to know more about these two meme coins? Find the full comparison in this University article.

CryptoIRL

The Icy Card — @Cryptorockstar4’s Colosseum companion of choice. We approve.

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

AI-Powered TikTok Shop Scam Targets Crypto Users

Cybercriminals launched a phishing and malware campaign — dubbed ‘ClickTok’ or ‘FraudOnTok’ — using over 15,000 fake domains with extensions like .top, .shop, and .icu. These sites mimic TikTok Shop, Wholesale, and Mall to lure users into phishing pages or trojanized app downloads.

The scam starts with AI-generated influencer videos and ads on platforms like Meta, TikTok, WhatsApp, and Telegram, driving traffic to these counterfeit sites.

Victims are tricked into:

• Entering login credentials
• Depositing crypto into fake TikTok-affiliated wallets
• Downloading apps infected with SparkKitty spyware, which fingerprints devices, scrapes clipboards, and scans screenshots for seed phrases

How to stay safe online:

1. Only shop via the official TikTok app or verified links
2. Avoid suspicious domains like .top, .shop, or .icu
3. Never download apps from ads, QR codes, or unsolicited links

Crypto Trivia Answer

A) World of Warcraft Gold ✅
Before BTC, gamers were trading WoW gold for real-world cash. Some early BTC adopters, including Bitcoin’s creator Satoshi Nakamoto, referenced the inefficiencies of centralized game currencies as part of crypto’s origin story.

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