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Bitcoin Bulls Regroup as Ethereum and Binance Coin Take the Center Stage: This Week’s Crypto Recap

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This week saw quite a bit of action, which ultimately failed to result in any substantial gains or losses in the total cryptocurrency market capitalization. The figure stands at $2.057 trillion, according to CoinGecko – up ever so slightly compared to this day last week.

Bitcoin’s price charted a decline of 2.8% in the past seven days, as the bulls were unable to remain above the important technical level at $52K. And it wasn’t for the lack of trying. In fact, BTC was trading above or very close to $52K for quite a while during the past week, but the bears eventually took over and managed to push the asset downwards.

Now, the cryptocurrency is found trading below $51K, charting a decline of about 0.7% on the day and 2.8% on the week.

It’s perhaps safe to say that it was another cryptocurrency that everyone was looking at this time.

Ethereum is currently trading at $2940, up 3.6% in the past seven days. It attempted to solidify above $3K on a few occasions, but the bulls were unable to upkeep the buying pressure and eventually gave up. Nevertheless, ETH remains the strongest performer from the top 10, as almost all other coins are well in the red besides BNB, which is also up 3.2%.

Elsewhere – Solana is struggling to remain above $100 and is down almost 10% for the week. Ripple’s XRP also couldn’t maintain the bullish momentum and declined by 6%. Avalanche is down almost 12%. It’s worth noting that it experienced some serious network issues this Friday.

It’s also worth noting that Uniswap (UNI) experienced a massive move on Friday, exploding by a whopping 50% in minutes. That comes following a proposal to upgrade governance in a way that rewards UNI token holders who stake or delegate with protocol-generated fees.

All in all, the market continues its positive trajectory, albeit slowing down a bit. Bitcoin ETF inflows continue, showcasing a considerable institutional demand.

It’s interesting to see how the market will shape up in the coming weeks, especially as we approach the April Bitcoin halving.

Market Data

Market Cap: $2.057T | 24H Vol: $81B | BTC Dominance: 48.8%

BTC: $50,920 (-2.8%) | ETH: $2,937 (+3.6%) | BNB: $375 (+3.2%)

market_update_cover

This Week’s Crypto Headlines You Can’t Miss

Bitcoin Miners Move 700,000 BTC to OTC Desks in 3 Weeks, Here’s What it Means. Bitcoin miners have sent a total of more than 700K BTC to over-the-counter (OTC) trading desks in just a few weeks. This might suggest that miners are preparing to sell some of it on the open market.

Andreessen Horowitz Invests $100 Million In ETH Restaking Platform EigenLayer. Andreessen Horowitz – a leading tech-oriented venture capital firm – has invested a whopping $100 million in EigenLayer. This is a blockchain protocol aimed at Ethereum (ETH) restaking.

Vitalik Buterin Advocates for Advanced L1 Features. The co-founder of Ethereum, Vitalik Buterin, has been advocating for the development of more advanced features for layer-one blockchains. He also expressed skepticism regarding the prevailing notion of prioritizing the simplicity of L1s over L2s.

Massive Bitcoin Price Prediction by Pantera, but BTC Maxis Won’t Like It. Pantera Capital – a well-known hedge fund – has stated that there is a significant opportunity for Bitcoin DeFi to capture a tremendous untapped capital of some $225 billion. This is unlike to appeal to Bitcoin maximalists.

Ripple CEO Says Firm is Open to Welcoming a Spot XRP ETF. The potential application and approval of a Ripple (XRP) ETF in the United States is a rumor that’s been circling for quite a while in the crypto field. Brad Garlinghouse, the CEO of the company, said that they would be open to welcoming such a product.

7 Best Avalanche (AVAX) Wallets: The Complete Guide for 2024. Avalanche has been expanding its ecosystem at rapid terms in the past months, gaining more and more popularity. Here are the seven best Avalanche wallets to consider as you venture into the field of decentralized finance.

Charts

This week, we have a chart analysis of Ethereum, Ripple, Cardano, Solana, and Binance Coin – click here for the complete price analysis.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

Cryptocurrency

Which 3 Trading Pairs Did Binance Just Remove?

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TL;DR

  • Binance has scheduled the removal of three spot trading pairs for August 15.
  • In contrast to the delisting effort, the exchange launched AIO/USDT and XNY/USDT perpetual contracts with up to 50x leverage.

The Latest Amendment

Binance conducts periodic reviews of all listed spot trading pairs and sometimes delists some due to factors like poor liquidity and volume.

Most recently, it announced the removal of ANIME/FDUSD, HYPER/FDUSD, and STO/BNB. The pairs will be effectively scrapped from the platform on August 15

“Users are strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses,” Binance recommended.

The exchange revealed that the delisting does not affect the availability of the tokens on Binance Spot. It said clients “can still trade the spot trading pairs’ base and quote assets on other trading pair(s)” that are available on the platform.

Typically, the withdrawal of support from a crypto behemoth like Binance has a negative impact on the prices of the affected cryptocurrencies. This wasn’t the case here with ANIME jumping by 16% daily, while HYPER and STO posted more modest gains.

Their rallies coincide with the broader resurgence of many of the well-known altcoins. Ethereum (ETH) is up 8% on a 24-hour scale and currently trades above $4,700, while Solana (SOL) soared by 15% to surpass $200.

Other Updates

Earlier this month, Binance announced a zero-fee trading promotion for VIP 2-9 users and spot liquidity providers. The campaign will cover the BNB/USDC, ADA/USDC, TRX/USDC, and XRP/USD trading pairs and will run from August 12 until October 11

Just a few hours ago, the company launched AIO/USDT and XNY/USDT perpetual contracts with up to 50x leverage. These products allow users to bet on the price of the aforementioned cryptocurrencies without owning them, and have no expiration date.

OlaXBT (AIO) experienced a major uptick of almost 50% shortly after the disclosure. After all, the support from Binance increases the asset’s liquidity and visibility, providing it with a solid reputational boost.

AIO Price
AIO Price, Source: CoinGecko

However, Codatta (XNY) headed in the opposite direction. It currently trades at approximately $0.015, representing a 20% decline on a daily scale. 

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Ripple’s XRP Eyes $8 as Chart Echoes Legendary 2017 Rally

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TL;DR

  • XRP reclaims $3.15 support, testing the breakout level that could push the price toward $3.40 next.
  • Analysts compare the current XRP rally to the 2017 bull run, projecting a possible surge toward $6–$8.
  • Daily transactions have dipped despite price gains, suggesting that fewer but larger trades drive the current market momentum.

Price Extends Gains After Legal Settlement

XRP was trading at $3.3 at press time, up 4% in the last 24 hours and 12% over the past week. Trading volume is about $8.2 billion. The rally follows the conclusion of the long-running case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), with both sides formally dropping appeals.

Meanwhile, the end of the legal dispute has brought renewed institutional interest. Additional developments have supported sentiment, including Blue Origin adding XRP as a payment option and SEC approval for Ripple’s updated Regulation D exemption, easing certain fundraising restrictions.

Analysts See Path to $6–$8

MikybullCrypto said, “$XRP about to fly to $6–$8 and then cycle top.” The monthly chart shows a breakout from a prolonged consolidation phase, similar to the pattern before the late-2017 rally. The asset has cleared the $2.60–$2.80 zone, while a long-term moving average is trending upward toward the projected target range.

Momentum readings are close to historical highs seen before prior market peaks. In 2017, similar conditions preceded XRP’s cycle high.

Additionally, Crypto Eagles noted XRP has regained the $3.15 support zone after filling a Fair Value Gap (FVG). The asset is now pressing against a descending trend line. A confirmed move above $3.32 could open the way toward $3.40, with $3.40–$3.41 marked as near-term targets.

Maintaining $3.15 as support is viewed as important for sustaining the bullish structure. A drop below it could see the price revisit $3.10 or $3.00.

On-Chain Activity Trends Lower

Data from Glassnode shows XRP processed 1.44 million transactions on August 12. This is well below the early July high of more than 2.2 million. Transaction counts have generally declined since mid-July, even as prices have recovered from early August lows.

glassnode-studio_xrp-number-of-transactions
Source: Glassnode

This trend suggests that recent gains may be driven more by larger trades and positioning than by an increase in network-wide activity.

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Ethereum (ETH) Within Striking Distance of 2021 Peak Amid Retail Disbelief

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Ethereum has witnessed exceptional growth this quarter. It has surged over 8% in the past 24 hours alone to trade above $4,600.

But retail traders remain in “disbelief” as the altcoin edges closer to its all-time high, now just 6.3% shy of the $4,891 record from November 16, 2021.

Retail Fear

Despite the rally, smaller investors have continued selling rather than buying. According to the latest data shared by Santiment, this move echoed a sentiment trend historically linked to price moves opposite retail expectations.

While pullbacks followed extreme greed in June and July 2025, current sentiment is dominated by fear, uncertainty, and doubt even as the leading altcoin logs new highs.

With larger players steadily absorbing the coins sold by smaller holders, the crypto analytic platform believes ETH has little sentiment-based resistance before potentially climbing to its historic peak and exploring new price levels.

Altcoin Vector, for one, observed that Ethereum’s new peak “is only a matter of time,” and when the crypto asset breaks a significant technical barrier, it often sparks a market rotation, where capital flows from Bitcoin or stablecoins into altcoins. This is particularly true for those closely tied to Ethereum’s ecosystem.

The platform revealed that ETH’s breakout is not only bullish for itself but also acts as a catalyst for narratives like Liquid Staking Derivatives (LSDs), DeFi protocols, and ETH-Beta tokens. A weekly close above the all-time high would validate the breakout on a higher timeframe, which could potentially lead to more upside pressure and usher in the “next phase” of the cycle.

Price Targets

Ethereum’s daily transactions have reached a record 1.875 million. This is a “confluence point,” as price approaches a major supply area, while network fundamentals show peak activity. A decisive breakout above $4,750, supported by a steady transaction momentum, could trigger a new price discovery phase.

On the other hand, strong seller defense may lead to short-term consolidation or a pullback toward $3,950.

Meanwhile, Ethereum’s long-term holder sentiment also shifted from capitulation to belief, which can be a sign of early bullish cycle stages. Experts say that reduced selling pressure and stronger holding behavior set a favorable backdrop for price growth. According to crypto analyst Ali Martinez, ETH’s next hurdles are $5,210 and $6,946, respectively.

In terms of other network fundamentals, new smart contract creation hit an all-time high following the Pectra upgrade. As such, continued developer activity, surging DeFi and NFT usage, and record contract growth strengthen the case for Ethereum’s next upward leg toward these resistance targets.

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