Cryptocurrency
Sotheby’s blockchain Gen Art program shows tech taking a back seat to art

Sotheby’s is making moves. The same fine art auction house behind several recent major nonfungible token (NFT) sales has just made the Met Breuer’s old Madison Avenue building its home, and on July 26, it’s launching an on-chain Gen Art Program powered by generative art platform Art Blocks.
A sale of NFTs by early algorithmic artmaker Vera Molnár will christen the program. She worked with artist and coder Martin Grasser to produce Themes and Variations, the sale’s series of 500 unique generative artworks. Altogether, it “expresses the seamless integration of letters as pure abstract forms,” a release says, “as well as Molnár’s affinity for embracing disorder.”
“The Sotheby’s Gen Art Program is powered by Art Blocks Engine,” Art Blocks founder and CEO Erick Calderon told Cointelegraph, “which gives access to Art Blocks’ smart contracts and rendering infrastructure for partners to create their own generative projects.”

“All Gen Art Program sales will be fully on-chain and in ETH only,” Sotheby’s head of digital art and NFTs, Michael Bouhanna, told Cointelegraph. “With the integration of the Art Blocks Engine, the Gen Art Program will mark our first digital art auctions to be held exclusively in ETH. Since moving Sotheby’s metaverse to fully on-chain in May, when we announced our new secondary market, it felt like a natural progression to begin exploring more sale options that can be fully on-chain,” he added. Last week’s announcement also predated a Web3 summit at Christie’s by just days.
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Art Blocks has previously partnered with traditional art heavyweights like the New York gallery Pace. The platform connected with Sotheby’s last fall “but didn’t immediately have a project in mind,” Calderon said. “It came to light that [Art Blocks] Engine would be a perfect fit for building out their [Sotheby’s] generative art platform after they committed to working with Vera Molnár early this year.”
Sotheby’s will conduct this inaugural sale as a Dutch auction for the first time in the house’s 300-year history. Art Blocks has historically used that model across its platform. Unlike a more traditional auction, where prices start low and climb high, a Dutch auction’s prices start high and go low. The first offer wins the lot, so there’s no dramatic bidding wars here. Sotheby’s say the model introduces new psychologies. The ceiling price for works across this week’s Molnár sale is 20 Ether (ETH).

With high-profile strategic partnerships, Art Blocks has built a business strong enough to withstand NFTs’ noted volatility. Sotheby’s, meanwhile, has transformed the downfall of one of crypto’s largest institutions into huge profits. This spring, it hosted a series of sales auctioning off Three Arrows Capital’s fabled blue chip NFT collection, which smashed estimates.
Most notably, Ringers #879 “The Goose” by Dimitri Cherniak — who made his auction debut with Phillips last summer — sold for $6.2 million, despite its $3 million high estimate. Many take those estimates with justified skepticism, but Cherniak’s work proved to be the second-most expensive digital art ever sold. “Editions from the same series sold for less than $200,000 each only moments later,” Forbes pointed out.
This Spring’s financial successes showed that now’s the time to launch the Gen Art Program, Bouhanna said. “We held our first auction dedicated to generative art in April 2022, and given the strong results from that sale, it was clear that collectors could see the art historical lineage of generative art and why it is so important not only to digital art but to contemporary art.”
“The Gen Art Program will open up many new opportunities for us, namely the ability to now work directly with leading artists to present exclusive new sales,” he continued.
The initiative also expands the house’s growing Web3 presence. Specifically, this program will focus on elevating long-form generative art — large series of works from a central algorithm.
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Calderon believes respect for the medium is rapidly increasing across the art world: “Part of the reason for that is blockchain technology itself is taking a back seat to the content that’s being created […] We will see less and less talk about the technology behind generative art and more about the art itself.”
“After decades of exploring how systems and computers can generate artistic outputs, I see this collaboration with Sotheby’s and Art Blocks as a culmination of those efforts,” Molnár herself said, “providing a new way to generate never-before-seen, unique abstract forms that are defined by the controlled randomness of machine programming — the essence of the algorithm.”
Cryptocurrency
Ethereum Foundation, Whales, and Hackers: What’s Driving the ETH Sell-Off?

TL;DR
- Whales, hackers, and the Ethereum Foundation wallets moved over $500M in ETH through large sales and withdrawals.
- Ethereum transfers rose to 4.6M ETH, nearing the monthly high of 5.2M recorded in July.
- Staking inflows hit 247,900 ETH, the highest in a month, locking more supply from trading.
Large Withdrawals and Whale Activity
Ethereum (ETH) has seen heavy movement from major wallets over the past few days. On-chain data from Lookonchain shows a newly created wallet pulled 17,591 ETH, worth $81.62 million, from Kraken in just two hours.
Over three days, two new wallets withdrew a combined 71,025 ETH, valued at $330 million, from the exchange.
One of these wallets, address 0x2A92, has withdrawn 53,434 ETH, worth $242.34 million, in two days. This includes a recent purchase of 30,069 ETH, valued at $138.46 million, during a market drop.
Major ETH Holders Offload Millions Amid Price Rally
In contrast, several separate entities have been disposing of some ETH holdings. A wallet tied to a hacker address 0x17E0 sold 4,958 ETH for $22.13 million at $4,463, securing a profit of $9.75 million. Earlier this year, the same address sold 12,282 ETH at $1,932 and later bought back part of the amount at higher prices.
A different whale sold 20,600 ETH for $96.55 million over the past two days, generating a profit of more than $26 million after holding the position for nine months.
Meanwhile, an Ethereum Foundation-linked wallet, 0xF39d, sold 6,194 ETH worth $28.36 million in the last three days at an average price of $4,578.
Recent sales from the same wallet included an additional 1,100 ETH and 1,695 ETH for over $12.7 million combined.
The #EthereumFoundation-linked wallet(0xF39d) sold another 1,300 $ETH($5.87M) at $4,518 ~11 hours ago.
Over the past 3 days, this wallet has sold a total of 6,194 $ETH($28.36M) at an average price of $4,578.https://t.co/4hfCWymHVG pic.twitter.com/ErUyEY8SJy
— Lookonchain (@lookonchain) August 15, 2025
Network Activity on the Rise
CryptoQuant data shows Ethereum’s total tokens transferred have been climbing since August 9. After ranging between 1 million and 3 million ETH through late July and early August, transfers have risen to 4.6 million ETH, approaching the monthly high of 5.2 million recorded in mid-July. This increase has occurred alongside a price rally from about $3,400 to $4,600.
Interestingly, staking inflows generally stayed between 20,000 and 80,000 ETH per day over the past month. On August 14, inflows jumped to 247,900 ETH, the highest in the period.
At the time, ETH was trading near $4,600. Large staking deposits reduce the amount of ETH available for immediate trading, as staked coins are locked for a set period.
In the meantime, ETH trades at $4,647 with a 24-hour volume of $68.25 billion, down 2% on the day but up 19% over the week.
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Cryptocurrency
Massive DOGE Whale Activity Hints at $1 Breakout

TL;DR
- Whales bought two billion DOGE this week, lifting their combined holdings to 27.6 billion coins.
- A single 900M DOGE transfer worth $208M to Binance drew attention to large exchange movements.
- DOGE broke key resistance, with momentum building for a possible push toward the $1 price mark.
Price and Market Moves
Dogecoin (DOGE) traded at $0.23 at press time, slipping 4% over the past day but still showing a 2% gain for the week. Daily turnover came in at about $6.18 billion.
Meanwhile, the broader crypto market saw over $1 billion in liquidations. Hotter-than-expected US Producer Price Index data pushed traders to scale back expectations of a near-term Federal Reserve rate cut. DOGE had roughly 290,500 coins liquidated during the sell-off.
On the two-week chart, analyst Trader Tardigrade notes that DOGE has cleared a downward-sloping resistance line after completing what appears to be a “wave V” in an Elliott Wave sequence. Similar setups in the past, where prolonged declines stayed within falling channels before breaking higher, have been followed by sharp rallies.
$Doge/2-week#Dogecoin is gaining strong momentum to surge above $1 pic.twitter.com/TuSEKr19nv
— Trader Tardigrade (@TATrader_Alan) August 15, 2025
Momentum gauges are also turning up. The Stochastic RSI, which had dropped into oversold territory, is now heading higher. Previous reversals from this zone have coincided with sustained upward moves. The current formation points to a possible run that could carry DOGE past the $1 mark.
Heavy Whale Buying and Large Transfers
As reported by CryptoPotato, blockchain data shows large investors have added two billion DOGE in the past week, spending just under $500 million. That brings their holdings to about 27.6 billion coins, or 18% of the supply. The buying streak has prompted speculation within the community.
Recently, Whale Alert flagged a 900 million DOGE transfer worth about $208 million into Binance. The tracking indicates that it originated from a wallet connected to the exchange, likely as an internal activity. The address involved holds 2.88 billion DOGE, one of the largest balances on the network.
Ali Martinez also reports that transactions above $1 million reached a one-month high, with activity building since early August and peaking as DOGE traded at $0.25.
Whales are back! Dogecoin $DOGE activity at a 1-month high. pic.twitter.com/C83Pv68mCt
— Ali (@ali_charts) August 14, 2025
Sentiment Building
Analyst Gordon described the current setup as “a nice bit of consolidation” before a potential breakout, adding,
“This will be one of the first coins normies FLOCK to & the pump will be MASSIVE.”
With whale accumulation rising, high-value transfers increasing, and a bullish technical pattern in play, DOGE is positioned for a potential push toward $1 if momentum holds.
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Cryptocurrency
Ripple Price Analysis: XRP at Risk as Key Support Levels Could Trigger Sharp Drop

XRP has recently entered a consolidation phase after a strong rally earlier this summer, with the price action now hovering around key resistance levels on both its USDT and BTC pairs. Yet, while momentum has slowed, the charts still indicate a generally bullish structure, with multiple key support levels remaining firmly in place.
Technical Analysis
By ShayanMarkets
The USDT Pair
On the XRP/USDT daily chart, the price is currently trading near the $3.10 mark, facing a strong resistance zone around $3.40. This follows a breakout above the $2.70 range in July, which has now flipped into a support area.
Both the 100-day and 200-day moving averages are also trending upward and recently formed a bullish crossover around $2.45, reinforcing the medium-term bullish sentiment. If the $3.40 resistance breaks, a push toward the critical $4.00 range becomes likely.
However, the RSI hovering near the neutral 50 level suggests a lack of strong momentum for now, meaning a short-term pullback into the $2.80 support zone is still possible.
This zone will be key for maintaining the bullish structure. Losing it could open the door for a deeper correction toward the 200-day moving average located around the $2.40 mark. Yet, as long as the price stays above the moving averages, the broader trend remains bullish.
The BTC Pair
Looking at the XRP/BTC chart, the pair has recently pulled back after hitting the 3,000 SAT resistance, with the price currently around 2,600 SAT.
This follows a clean breakout above the long-term descending channel and a successful retest of its upper boundary, which coincided with the 200-day moving average and the 2,400 SAT support zone. This confluence remains a key bullish technical factor, as holding above it could attract renewed buying pressure.
That said, RSI levels around 48 show that momentum has cooled after the sharp July rally, meaning XRP may continue ranging between 2,400 SAT and 3,000 SAT in the near term. A decisive close above 3,000 SAT would likely open the path to the 3,400 SAT zone, while losing 2,400 SAT could shift the bias back toward 2,000 SAT support. For now, the structure still favors the bulls as long as higher lows remain intact.
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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.
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