OVERVIEW

The Doldrums Of Crypto Are Here

Day of three testing the addition of a short audio recap - let me know what you think! Too short? Too long? Hate it? Love it? 😃 

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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: 📈 $AAVE, $DAI, $USDC, $USDT, $TRX, 📉 $HNT, $SUI, $WIF, $BIT, and $PEPE.

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

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

📈 Ethereum L2s Smash Transaction Records Thanks to Base and Arbitrum 

$ETH’s Layer-2 networks are popping off, hitting a record-breaking 12.52 million daily transactions on August 13, mostly thanks to $COIN’s Base and $ARB One. Transaction costs are plummeting, making it cheaper than ever to move crypto around, despite the crazy volume. Base and Arbitrum are leading the charge, proving that scaling Ethereum isn’t just a pipe dream—it’s happening now. TheCoinRepublic.

🚀 Renzo Protocol Launches ezSOL—Solana’s New DeFi Flex 

Renzo Protocol is spicing things up on $SOL with the launch of ezSOL, the network’s first Liquid Restaking Token (LRT), in collaboration with Jito Network ($JTO). This isn’t just another coin—it’s a gateway to a buffet of DeFi opportunities, all wrapped up with Jito’s MEV-enhanced magic. As Solana’s DeFi ecosystem flexes its muscles, Renzo’s hoping to carve out a bigger piece of the pie. CoinJournal.

🎲 That’s A Lot Of IBIT

The State of Wisconsin’s Investment Board bought more $IBIT - how much exactly? 447,651, bringing the total to nearly 3 million shares of IBIT. And if entities like BlackRock and Fidelity continue to gobble up Bitcoin at the rate they are, they’re projected to hold more Bitcoin than Satoshi in under a year. Cryptopotato. 

⚖️ Schumer’s Crypto Crusade: Bipartisan Legislation by Year’s End? 

Sen. Chuck Schumer is on a mission to push crypto legislation through Congress before the year wraps up, calling for a balanced approach that fosters innovation while laying down some guardrails. During a digital town hall, Schumer stressed the need for bipartisan support to keep crypto from fleeing to unregulated shores. Decrypt.

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News In Three Sentences
Altcoin News 🗞️ 

💼 SEC Pokes VC Bears Over Uniswap Ties—Shaking the Crypto Hive 

The SEC is busy sending love letters (read: inquiries) to VC heavyweights like Andreessen Horowitz and Union Square Ventures about their connections to Uniswap Labs ($UNI). The regulator’s case against the Ethereum-based DEX has been dragging on since that Wells Notice dropped like a bomb four months ago. Uniswap’s legal eagle is clapping back, calling the SEC’s arguments weak, and that Uniswap’s not the securities dealer the SEC’s making them out to be. DailyHODL.

🎮 Skale’s Swell Platform Aims to Level Up Web3 User Engagement 

$SKL is taking things to the next level with Swell, a platform designed to get users more involved in gaming, AI, DeFi, and other Web3 activities. By offering gas-free interactions and leaderboard rewards, Skale hopes to onboard millions of users into the Web3 space. It’s a bold move that underscores Skale’s mission to create a scalable, user-friendly blockchain ecosystem. CoinTrust.

🛠 Sui’s Tech Game is Strong, But Can It Outlast the Competition? 

$SUI’s trying to outshine Ethereum and Solana with some unique tech tricks, including an object-centric data model and dynamic NFT standards. The blockchain’s big claim? Handling transactions faster and more efficiently, even if its current TPS is a bit underwhelming. Sui’s got the chops, but in a crowded market full of EVM chains, it’s got a mountain to climb if it wants to stand out. Bankless.

🎮 Apeiron’s Season 3 Beta Brings New Heat to Blockchain Gaming 

Apeiron is gearing up to drop its Season 3 open beta on August 22, complete with new PVE dungeons, PVP arenas, and apostle NFT support characters. The game’s latest update is a big step toward its upcoming mobile launch, as the $RONIN-based god battler looks to expand its footprint. With fresh gameplay features and currencies, Apeiron is doubling down on its quest to become a major player in blockchain gaming. BlockChainGamer.

🚀 Polkadot 2.0: The Next Evolution of Blockchain Tech 

$DOT is rolling out its 2.0 upgrade, packed with tech advancements like Async Backing, Elastic Scaling, and Agile Coretime, all aimed at boosting transaction throughput and efficiency. These upgrades could position Polkadot as a top-tier platform for custom blockchain projects, making it more competitive with cloud giants like AWS. The network’s DOT token will remain central to its operations, driving governance, staking, and fees as Polkadot enters its next phase. YahooFinance.

🎮 Aptos Blows Up with 3,570% Spike Thanks to Tapos 2 

$APT just broke the internet (again), with a 3,570% spike in daily transactions after dropping the click-to-earn game Tapos 2. The network’s new activity puts it in the big leagues, but it’s still a long road to catching up with the Ethereum and Solana juggernauts. Even though Aptos is showing some serious potential, its APT token is as volatile as ever, keeping everyone on their toes. Cryptopolitan.

💳 Shiba Inu Makes It Easier to Buy BONE and USDC with New Fiat On-Ramp 

$SHIB is simplifying the way users buy $BONE and $USDC tokens with a new fiat on-ramp that lets you use Visa ($V) or MasterCard ($MA) on the Shibarium network. This move is part of Shiba Inu’s broader strategy to make its ecosystem more accessible, attracting both new and seasoned users. Alongside partnerships and the upcoming Shiba Eternity game, Shiba Inu is doubling down on its commitment to growth. The Crypto Times.

🔓 Avalanche’s Token Unlock Could Shake Up AVAX Prices 

Avalanche ($AVAX) is about to unlock 9.54 million tokens, and the market is bracing for potential price swings as a result. While traders in the derivatives market seem bearish, whales are quietly accumulating AVAX, setting the stage for a possible price movement. Whether this leads to a surge or a dip, keep your eyes on AVAX as the token unlock approaches. BeInCrypto.

📈 VeChain’s Blockchain Tech is Quietly Revolutionizing Supply Chains 

VeChain ($VET) is making waves in the supply chain finance world, using blockchain to tackle fraud, inefficiency, and transparency issues. By leveraging decentralized ledgers and smart contracts, VeChain offers real-time tracking and verification, cutting costs and boosting trust. As more industries adopt this tech, VeChain’s potential to transform supply chain management is becoming increasingly clear. CryptoNewsFlash.

🏡 Hoskinson Shuts Down Rumors About Hosting Elon Musk’s Trump Interview 

Charles Hoskinson, the man behind $ADA, put the kibosh on rumors that Elon Musk interviewed Donald Trump at his Wyoming ranch. After some playful banter on X about Musk’s vague “friend’s ranch” post, the Cardano community jumped to conclusions. But Hoskinson cleared it up quickly, saying Musk was actually at Peter Thiel’s place. Bitcoinist.

Links That Don’t Suck 🔗

🕸️ Web3 gaming needs its own Steam: Nifty Newsletter

⚓️ New Vanguard CEO says asset manager 'will not be launching crypto ETFs'

😱 U.S Bitcoin ETFs Set To Soon Hold More BTC Than Satoshi Nakamoto

🕹️ Dragon Age: The Veilguard release date confirmed following leak

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Author Disclosure: The author of this newsletter holds positions in Bitcoin, Ethereum, Cardano, Stellar, Uniswap, Shiba Inu, Dogecoin, and Arbitrum. 📋