OVERVIEW

Kim DotCom And Cardano Unite? 

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

Most bullish/bearish symbols on Stocktwits at the close: 📈 $XMR, $UNI, $RUNE, $LTC, $DAI, 📉 $FET, $TAO, $FTM, $AAVE, and $IMX

*If you’re a business and want to access this data via our API, email us.

NEWS
KimDotcom Interested In Building ‘Killer’ App On Cardano?

After Cardano’s Chang hardfork yesterday, Charles Hoskinson reflected on the challenges and emotional rollercoaster of working on Cardano ($ADA) over the past decade in a post on X. 📮 

The Hosk praised Cardano's achievements and work over the past seven years. Some of the achievements, he said, even surpass Bitcoin ($BTC). Comments on X were a mix of support, enthusiasm, and trolls. But one comment turned heads - this one from Kim Dotcom:

Kim Dotcom said Cardano needs a killer app and he (Dotcom) does killer apps. 🔪 

To which Charles Hoskinson responded: I’m down.

Whether any partnership will occur remains to be seen - mainly because an order to extradite Dotcom to the U.S. was signed in New Zealand on August 15. We’ll keep you updated. 🗞️ 

News In Three Sentences
Bitcoin, Ethereum, And Solana News 🪙

😲 13 Out of 25 Best-Performing ETFs This Year Center Around Bitcoin and Ether

According to Nate Geraci, President of ETFStore, half of the top 25 performing ETFs in 2024 are $BTC or $ETH related. That’s out of 400+ new ETFs launched this year. Additionally, the top four are all spot Bitcoin ETFs: $IBIT, $FBTC, $ARKB, and $BITB. X.

🐋 Bitcoin Whales Accumulate as Market Shows Signs of Life

Bitcoin has shown signs of resilience, with an increasing number of whales accumulating $BTC. The S&P 500's pause for Labor Day coincided with crypto's growth, hinting at the sector's strength. A net gain of +283 wallets holding at least 100 BTC in just one month marks a 17-month high, suggesting that a rebound may be on the horizon. Santiment.

🔧 Vitalik Buterin Advocates for "Glue and Coprocessor Architecture" in Computing

$ETH co-founder Vitalik Buterin called for the adoption of a new computational model known as "glue and coprocessor architecture" to enhance efficiency and security. This model could revolutionize fields like blockchain, AI, and cryptography by optimizing performance while maintaining flexibility and security. Buterin believes this approach could become foundational in the next era of computing. CryptoSlate.

📉 Ethereum Suffers Steepest Monthly Decline in Over Two Years

Ethereum experienced its worst monthly decline since June 2022, with its price dropping 22% in August. Weak demand for ETH-focused ETFs and growing technical criticism have contributed to the downturn. As Ethereum transactions migrate to more efficient layer-2 solutions, the asset's deflationary model is under threat, leading to bearish sentiment in the market. BitcoinSistemi.

HAPPENING ON STOCKTWITS
Ask Me Your Crypto & Trading Questions 🧑‍🏫

“Ask Me Anythings” (AMAs) are back on Stocktwits, and I’m helping kick them off tomorrow by answering all things crypto and trading. Ask your question here and follow the thread to see all the great questions and answers!

P.S. If you’re interested in doing an AMA or know someone who would be, hit up the @Stocktwits handle with your suggestions! 👍

News In Three Sentences
Altcoin News 🗞️ 

📊 Cardano Activates "Chang" Upgrade, Shifts to Decentralized Governance

Cardano ($ADA) has activated its "Chang" upgrade, moving towards decentralized governance. This milestone allows ADA holders to elect governance representatives and vote on proposals, effectively removing control from Cardano's founding entities. The upgrade is part of the Voltaire era, marking a significant step towards full decentralization. Bitcoinist.

🐋 XRP Whales Dump Nearly 1 Billion Coins Amid Ripple's SEC Settlement

$XRP whales have sparked concerns by dumping nearly 1 billion XRP coins ahead of Ripple's $125 million settlement with the SEC. The massive transactions have fueled bearish sentiments, as market participants worry about the cryptocurrency's future price movements. Despite recent escrow movements by Ripple, the uncertainty surrounding XRP's performance persists. CoinGape.

📊 LayerZero Foundation Launches Community Program with 5 Million ZRO Tokens

The LayerZero Foundation has launched a community program to encourage participation in its ecosystem, allocating 5 million ZRO tokens as rewards. The program offers roles for community members, builders, and content creators, with initial rewards for early participants. LayerZero's cross-chain network, already integrated with eight blockchains, continues to expand its reach and user engagement. Crypto-Economy.

📈 Crypto Market Prepares for Significant Token Unlocks in September

In September, the crypto market is set for a shake-up with the unlocking of about $1.73 billion worth of tokens. Key cliff unlocks include Sui ($SUI), Immutable ($IMX), Aptos ($APT), Arbitrum ($ARB), and Optimism ($OP), raising concerns about potential selling pressure. TokenUnlocks analysts caution that the influx of these tokens might not be as bullish as some hope, requiring significant liquidity to avoid market disruptions. CoinTurk.

🌐 TON Blockchain Surpasses 1 Billion Transactions Amidst Airdrop-Related Outages

The Open Network ($TON) blockchain has exceeded 1.02 billion transactions, despite recent outages caused by high demand from the DOGS memecoin airdrop. TON's transaction volume has surged in the past three months, driven by the airdrop's popularity. The network's growing activity positions it as a potential "SuperApp" with Web3 capabilities, particularly through its integration with Telegram. Crypto-Economy.

New In Three Sentences
Crypto News 📰 

⚠️ Threshold Proposes Merger to Prevent Justin Sun Takeover of Wrapped Bitcoin

Threshold has proposed merging its tBTC token with Wrapped Bitcoin (WBTC) to avoid a potential takeover by Justin Sun. Concerns arose after BitGo partnered with BiT Global, raising fears of Sun's control over WBTC reserves. The proposal would decentralize WBTC's custody, transferring control to Threshold's DAO and offering a more secure management model. CryptoNews

🤖 Coinbase CEO Announces First AI-to-AI Crypto Transaction

Coinbase ($COIN) CEO Brian Armstrong announced the successful completion of the first cryptocurrency transaction managed entirely by AI. The AI-to-AI transaction involved bots using crypto tokens to interact, marking a significant step in empowering AI agents with transactional capabilities. Armstrong emphasized the potential for AI agents to hold crypto wallets, enhancing their utility in various tasks. CryptoNews.

⚖️ Van Loon Plaintiffs Challenge Tornado Cash Sanctions in Fifth Circuit Court

The Van Loon plaintiffs are presenting their case before the Fifth Circuit today, challenging Tornado Cash's inclusion on the SDN list. The lawsuit argues that the U.S. Treasury overstepped its authority, with digital rights advocates warning that the sanctions threaten First Amendment rights. The court previously dismissed the case, but the appeal could have significant implications for open-source projects and coder rights. X.

💥 Binance Exec Tigran Gambaryan’s Trial in Nigeria Faces New Challenges

Binance executive Tigran Gambaryan's trial in Nigeria is facing new challenges as his health deteriorates and legal access is blocked. Held on charges of money laundering, Gambaryan has been denied proper medical care, leading to concerns about human rights violations. The trial continues, with Gambaryan's family and legal team urging international intervention. TheBlock.

Links That Don’t Suck 🔗

🤔 How much Bitcoin does the average whale hold?

⚡️ Bitcoin network hashrate reaches new all-time high

🤖 AI likely to weigh on oil prices over the next decade, Goldman says

🕵️‍♀️ FBI warns North Korean cyber crooks may be targeting Bitcoin ETF companies

🤦 SEC commissioner calls for specialized forms to address digital asset complexities

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Author Disclosure: The author of this newsletter holds positions in ADA and IMX, . 📋