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Most Read: NVIDIA (NVDA) Earnings: Navigating the Blackwell Supercycle Amid Geopolitical Crosscurrents EUR/USD continued its slide to trade below the 1.1600 handle as markets await key US data. The US Dollar has shrugged off concerns around FED independence after US President Trump announced his intention to fire Fed policymaker Lisa Cook. The question is whether or not the US Dollar will face another selloff if President Trump succeeds with his plan? Trump’s Move to Fire Fed Policymaker Cook First, Cook is fighting the decision, and it will likely end up in court. Second, her exit won’t have much effect on upcoming meetings. With Powell still leading, markets expect decisions to stay focused on data, and the small number of dovish voices isn’t enough to push for faster or bigger rate cuts. The real impact of politics on the Fed will likely show after Powell’s term ends in May 2026, unless Trump removes him earlier. By then, a new Fed chair with a preference for rate cuts would still need support from the committee, but that’s too far ahead for markets to predict. Plus, if Powell lowers rates by 100 basis points to around 3.5% as expected, the new chair would have less room to cut further. So far, the biggest market effect has been the poor performance of 30-year Treasuries. However, selloffs in long-term Treasuries are more likely to hurt the dollar when caused by fiscal worries rather than inflation. With short-term yields staying steady, it’s no surprise the dollar remains strong. German GfK Consumer Sentiment Falls Germany’s GfK Consumer Climate Indicator dropped to -23.6 for September 2025, down from -21.7 in August, missing predictions of -22.0. This is the lowest level since April. The income outlook fell sharply (4.1 vs 15.2 in August), ending five months of improvement and hitting its lowest point since March. This was due to growing fears of job losses, inflation uncertainty, and the effects of U.S. trade policies. Economic expectations also dropped (2.7 vs 10.1), marking the second monthly decline and the lowest level in six months, as hopes for a recovery this year faded after a rough start for the new federal government. Willingness to spend fell for the third month (-10.1 vs -9.2), reaching its lowest since February. Meanwhile, the tendency to save slightly decreased (15.8 vs 16.4), offering little relief. “With this third drop in a row, consumer sentiment is clearly stuck in a summer slump,” said Rolf Bürkl, Head of Consumer Climate at NIM. Euro Resilient in Face of Uncertainties in France Despite the drop in German consumer sentiment and the cloud hanging over France, the Euro has remained resilient. French Prime Minister François Bayrou has tied his €44 billion budget plan to an important confidence vote in parliament on September 8. This has sparked worries that the government could collapse or new elections might be called, creating uncertainty about political stability in the Eurozone's second-largest economy. The political instability and potential for snap elections in France continue to grow, but similar to the US markets, the Euro appears unfazed for now. Looking Ahead Market participants will now turn their attention to a slew of high impact data releases to end the week. Thursday’s schedule is important, featuring Eurozone confidence surveys and the ECB’s meeting notes, which could reveal more about their recent discussions on inflation and growth. In the U.S., Weekly Jobless Claims will give an early look at the job market, while Friday’s Core PCE Price Index, the Fed’s favorite inflation measure, will be the week’s main highlight. For all market-moving economic releases and events, see the MarketPulse Economic Calendar. Technical Analysis - EUR/USD EUR/USD has bounced off a key area of support today resting at 1.15800 which was the recent swing low on August 25. Having failed to record a four-hour candle close below this level, the recent change in character favoring bulls remains in play. Currently trading around the 1.1640, there is resistance ahead at the 1.1650 handle before the 1.1700 and 1.1750 areas come into focus. The period-14 RSI is just below overbought territory and may worth watching. There is alos the bull flag pattern which is in play with the top end of pattern resting around the 1.1740 area. A four-hour candle close above this level could set the stage for a 380 odd pip move to the upside. This would take EUR/USD beyond the 1.2000 handle. Support may be found at 1.1580, 1.1527 and of course the crucial 1.1450 handles. EUR/USD Four-Hour Chart, August 27, 2025 Source: TradingView.com (click to enlarge) Client Sentiment Data - EUR/USD Looking at OANDA client sentiment data and market participants are Long on EUR/USD with 61% of traders net-long. I prefer to take a contrarian view toward crowd sentiment and thus the fact that the majority of traders are net-long suggests that EUR/USD prices could continue to slide in the near-term. Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Shiba Inu’s layer-2 network, Shibarium, has suffered a significant decline in its daily transaction metric, providing a bearish outlook for the top meme coin. This comes as the SHIB price looks to stage a rebound alongside the broader crypto market. Shiba Inu’s Shibarium Suffers Crash In Daily Transactions Shibariumscan data shows that daily transactions on Shiba Inu’s layer-2 network crashed from just over 4 million on August 23 to 1.09 million on August 24. The crash further extended on August 25 as the network recorded 624,140 transactions on the day, which represented a 2-month low for the layer-2 network. Meanwhile, Shiba Inu’s Shibarium recorded 1.76 million transactions on August 26, which is still significantly below the average of 4 million daily transactions it has maintained for some time. This development is typically bearish for the SHIB price, as a decrease in the network’s daily transactions leads to fewer token burns. The Shiba Inu team deploys some of the fees earned on Shibarium for SHIB burns, which helps reduce the token’s circulating supply and could serve as a catalyst for higher prices as demand increases. Notably, Shibburn data shows that the burn rate is down over 87% in the last seven days, with 8.8 million tokens burned during this period. However, a positive is that the Shiba Inu burns increased over 500% in the last 24 hours, with 1 million tokens burned during this period. This trend might not be sustainable if the daily transactions on Shibarium continue to drop. Meanwhile, other major metrics on the layer-2 network are also on a downtrend at the moment. This includes the number of active and new accounts, which highlight the network’s growth over a period of time. Bullish Case For The SHIB Price Amid the drop in these Shiba Inu’s Shibarium metrics, crypto analyst Javon Marks has made a bullish case for the SHIB price. In an X post, he stated that the structure of SHIB’s Inverse Head and Shoulders pattern remains intact and is currently in the final shoulder area of it. Based on this, he declared that the meme coin might be on the brink of a substantial surge. If the breakout occurs, Marks claimed that the target is over 540% away at $0.000081, which could pave the way into new all-time highs (ATHs) for Shiba Inu. The SHIB price’s current ATH is $0.00008845, which it reached in October 2021. Meanwhile, fundamentals like the Shib Alpha Layer may help contribute to any potential surge in the SHIB price. At the time of writing, the Shiba Inu price is trading at around $0.00001253, up over 2% in the last 24 hours, according to data from CoinMarketCap.

KoBold Metals, the US-based explorer backed by billionaires including Jeff Bezos and Bill Gates, has secured seven new permits to search for lithium and other critical minerals in the Democratic Republic of Congo (DRC). The licenses were granted just weeks after the Berkeley, California–based company signed an exploration pact with the Congolese government, part of a broader push to attract American investment into the country’s mining sector. Congo is the world’s largest producer of cobalt, the second-largest source of copper, and hosts vast reserves of lithium and tantalum. Focus on Manono The newly awarded permits are located in southeastern Congo near the Manono lithium project, which KoBold has ambitions to develop into a major mine. The rights allow the company to prospect for lithium, manganese, tin, and tantalum in the region. KoBold has notified authorities in Kinshasa that it will first need to resolve a dispute with Australia’s AVZ Minerals Ltd., which has challenged Congo’s termination of its rights to Manono. AVZ has launched arbitration proceedings and is seeking an acceptable settlement or buyout. KoBold’s shareholders also include BHP Group, Andreesen Horowitz, and Equinor ASA. The company’s push into Congo comes as Washington works to reduce reliance on China for key minerals needed for clean energy and electric vehicles. KoBold says it plans to deploy its AI-driven exploration technology in Manono, funding digital geological mapping, hiring local staff, and supporting infrastructure improvements in host communities. (With files from Bloomberg)

US-backed mining investment firm TechMet is launching a new trading unit focused on critical minerals as part of an expanded partnership with Mercuria Energy Trading. On Wednesday, the privately-held TechMet announced that the Swiss trading house has agreed to make an additional investment to support this launch. The amount was not disclosed. The new trading arm, TechMet SCM, which will be wholly owned by TechMet and focus on specialty metals where it has unique expertise, a statement said. The companies are currently partnering on strategic initiatives designed to enhance Mercuria’s commitment to bulk metal trading, which are expected to continue. The new launch will build on the success of the joint venture and expand its global footprint with teams in South Korea, Western Europe and Washington DC to strengthen partnerships and secure new offtake agreements, TechMet said. Specifically, the trading unit will manage offtakes from TechMet’s portfolio of companies as well as third parties, leveraging its Western-aligned position and industry experience, it added. TechMet currently has stakes in 10 companies in the special minerals space, including Brazilian Nickel, Cornish Lithium and Rainbow Rare Earths (LON: RBW). “Mercuria’s backing adds to TechMet’s growth as we secure Western-aligned supply of the critical minerals that will drive the 21st century economy,” said Brian Menell, chairman and CEO of TechMet, in a press release. “TechMet SCM will be instrumental in achieving this objective, vital to both economic growth and national security.” Quentin Lamarche, who previously served as co-managing director of the Mercuria-TechMet joint venture, will lead TechMet SCM as CEO. “Our mission is to build a world-class trading platform that serves the rapidly growing demand for critical minerals across the energy, technology, aerospace and defence industries. With TechMet’s backing, and supported by our partnership with Mercuria, we are well positioned to deliver impact at scale,” Lamarche stated. The new initiative brings Mercuria’s total investment into the company this year to $68 million, enhancing its position as one of its largest shareholders. Other major shareholders include International Development Finance Corp and Qatar Investment Authority.

Log in to our mid-week North American Markets overview where we look at the NA Indices and currencies. This week has been a typical end-August trading week, with mostly rangebound markets and volumes subdued – As pointed in our previous day Market Wrap, the most influential participants tend to take the final weeks of August to take their breaks off Markets. Hence, the price action has been held in tight ranges for FX Markets. Equity Markets have seen some profit-taking since Friday's post-Powell rallies, with the S&P holding close to its previous highs (is the most recent double top going to get cancelled by hungry-for-cut bulls?), the Dow Jones still holding around/above its previous all-time highs, and the Nasdaq held at the lows of its ascending channel. You can observe all of the most recent technical updates for US Indices right here: Markets tread carefully as US indices consolidate after Powell's speech Markets have been holding around hopes of further US Dollar weakness around US Rate cuts and FED's Independence being constantly attacked by the Trump Administration – But one of the most important market developments is the failure for USD bears to push for further lows.. As it was marked in a July US Dollar analysis (a bit out-dated now but still valid), the longer-run selling trend for the Greenback may have just concluded, have we seen the bottom for the USD after a first-half of bloodshed for the Reserve currency? In the waiting for more data, FX majors have been mostly rangebound as seen in USDJPY for example. Read More: USDJPY rallies into its range amid a US Dollar rebound – Will the range break? Let's dive right into a few charts to get an overview on North American Markets, from US and Canadian equity Markets performance, USD and CAD performance to USDCAD and DXY charts. North-American Indices Performance North American Top Indices performance since last Monday – August 27, 2025 – Source: TradingView The TSX is back on top, with US Indices performing in a more rangebound fashion. Dollar Index 8H Chart US Dollar Index 8H Chart, August 27, 2025 – Source: TradingView The US Dollar is running to test the highs of its range – go check out the levels on our latest USD Index (DXY) analysis. Read More: What’s driving the US Dollar after Powell’s Friday remarks? Dollar Index (DXY) outlookUS Dollar Mid-Week Performance vs Majors USD vs other Majors, August 27, 2025 - Source: TradingView. The price action for the US Dollar has been seesawing all around, but the trajectory is still higher overall. There is ongoing selling happening right now as Markets are rejecting the higher bound of the range seen just above. CAD Mid-Week Performance vs Majors CAD vs other Majors, August 27, 2025 - Source: TradingView. The Loonie has stopped weakening against other majors but has still yet to mark a concrete return – The CAD is consolidating at the lows against its peers. Macklem did mention the 2% target not changing for the Bank of Canada in a Speech released yesterday. Upward inflation risks have been pointed, in a relatively hawkish tone which could support the Canadian Dollar. Participants are really waiting for better Canadian data to allow the Loonie to really make a comeback. In the meantime, it will be moving along with the USD in the pursued geographic trend in FX. Intraday Technical Levels for the USD/CAD USDCAD 4H Chart, August 27, 2025 – Source: TradingView USDCAD had retracted from its extremes and is now back into the higher part of its range. Still, buyers are stubborn at the 1.38130 support that acts as a key barometer for future price action. Selling might accelerate if the level is broken, but with the rangebound action in FX, it should be holding still – Tomorrow's GDP release for both the US and the Canada will have strong influence on future outcomes. Levels to place on your USDCAD charts: Resistance Levels: 1.3850 Main resistance (immediate resistance1.3925 Aug 22 highs last Friday highsMay Highs 1.40185Support Levels: Immediate support at May 30 highs - 1.38 HandleKey longer-term pivot 1.3750Main Support Zone 1.3675 to 1.3686US and Canada Economic Calendar for the Rest of the Week US and Canadian Data for the rest of the week, MarketPulse Economic Calendar The rest of the week should be a bit more exciting as it comes to US and Canadian data, with GDP expected to release for both countries tomorrow at 8:30 A.M. and the US Core PCE awaited for Friday. The Core PCE is obtained with the calculation of many already released data like CPI, PPI and others but some surprises can still happen. The Core y/y data is expected at 3.1% and is still very high to prompt further cuts – Let's see how markets interpret this. For lower-tier data, still consider the Jobless Claims (continuing claims have been trending higher, at November 2021 levels) and Friday's U-of-Mich Consumer sentiment data. Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Hochschild Mining (LSE: HOC.L) shares plunged on Wednesday after the company slashed its full-year production forecast from the Mara Rosa mine by more than half, only months after a temporary suspension at the site due to weak gold output. The company now expects 35,000-45,000 ounces of gold production from the Brazilian mine this year, down from its previous forecast of 94,000-104,000 ounces. Shares of Hochschild were down 13% in London afternoon trading, giving the company a market capitalization of £1.37 billion ($1.84 billion). Mara Rosa made its first pour in February 2024. The mine, located in the state of Goias, is the company’s first Brazilian operation. Mara Rosa became a part of Hochschild’s portfolio through its C$135 million deal to buy Amarillo Gold in late 2021. The mine experienced a challenging first half of the year, with operations impacted by heavier-than-usual seasonal rainfall and contractor performance issues, CEO Eduardo Landin said in a statement. “These conditions restricted access to higher-grade zones within the pit and further exacerbated existing issues with filtering processes and delaying efforts to recover from mine waste removal backlogs carried over from 2024,” he added. The company initiated and led a review of the operation, following the resignation of Chief Operating Officer Rodrigo Nunes in May. The review covered all aspects of mining, processing and permitting, and included a four-week suspension of the processing plant to perform essential maintenance and to allow the manufacturer to carry out mechanical filter repairs. Normal mining activities have continued throughout the period. Gold production for the first half at Mara Rosa totalled 28,416 ounces, up from 14,354 ounces in the same period last year. “Guidance at Mara Rosa has now been revised 60% lower, which is below our forecast of 56,000 ounces,” BMO said in a note. “Company-wide guidance has decreased 16% to 291,000–319,000 gold equivalent ounces from the original 350,000–378,000, slightly below our expectation of 320,000 ounces.” Production guidance at Inmaculada and San Jose remains unchanged.

Private firm Evolve Strategic Element Royalties is poised to acquire the Prairies- and copper-zinc-gold-focused Voyageur Mineral Explorers (CSE: VOY) in a reverse takeover valued at C$70.3 million ($50.9m). Voyageur is to acquire all of Evolve’s shares at C$0.80 apiece and will continue its exploration work as well as take on Evolve’s royalties activities, according to an agreement between the companies, they reported Wednesday. Voyageur holds several exploration projects in northwest Manitoba and southeast Saskatchewan, such as the Gold Rock and Hanson Lake sites. “This strategic business combination marks a transformative event for Voyageur, creating a stronger, more diversified emerging leader in copper mining royalties,” Voyageur President and CEO Fraser Laschinger said in a release. “Through this union, Evolve is poised to drive meaningful growth and deliver enhanced value to all shareholders.” Big name royalties Evolve has over the last year built up a copper-focused royalty portfolio based on Teck Resources’ (TSX: TECK.A, TECK.B; NYSE: TECK) Highland Valley Copper mine and Hudbay Minerals’ (TSX, NYSE: HBM) Copper Mountain mine, Evolve CEO Joseph de la Plante, said in the statement. The deal with Voyageur will also add exposure to Foran Mining’s (TSX: FOM) McIlvenna Bay project in Saskatchewan. “With immediate cash flow, a clear path to meaningful growth, and the benefits of a public listing, Evolve is well positioned to accelerate its acquisition strategy and deliver long-term value for shareholders,” De La Plante said. Once the deal closes, Voyageur’s name is to change to Evolve Royalties. Voyageur shares have been paused for trading on the CSE and will resume trading after the takeover closes. Before trading was halted, Voyageur shares traded for C$0.84 each, valuing the company at C$27.17 million ($19.7m). The stock traded in a 12-month range of C$0.44 to C$1. Evolve holds a 0.51% net profit interest in the Highland Valley mine and a 5% net smelter returns (NSR) royalty on copper and 2.5% NSR royalty on all other metals produced on claims at Copper Mountain. In addition to its British Columbia interests, Evolve also holds a 2% net smelter return royalty on Chinese miner Tibet Summit Resources’ Sal de Los Angeles lithium Brine project in Argentina.

Ivanhoe Mines (TSX: IVN) says the debottlenecking program at its Kipushi zinc mine in the Democratic Republic of Congo was recently completed both ahead of schedule and under budget, placing it on track to achieve its production guidance for the remaining of 2025. Kipushi, a joint venture between Ivanhoe (62%) and Congo’s state-owned miner Gécamines (38%), is the world’s highest-grade zinc mine. It first went into production over a century ago, until operations were placed on care and maintenance during the 1990s. The JV brought the mine back into production in June 2024, targeting 278,000 tonnes of production over its first five years. To achieve this target, it planned a nine-month debottlenecking program to increase the concentrator’s processing capacity by 20% from 800,000 to 960,000 tonnes per annum. Engineering work on the debottlenecking program began in September 2024. Construction works were completed earlier this month, following a second and final concentrator shutdown to commission the newly installed equipment. During this shutdown period, Ivanhoe’s team also made upgrades to the dense media separation (DMS) circuit to improve equipment availability. The company reported last year that excessive fine material in the ore feed was causing blockages in the DMS circuit, which led to frequent unscheduled shutdowns. With these new upgrades, Ivanhoe notes that the DMS circuit availability has increased notably from approximately 70% to 96%, boosting concentrator recoveries to over 90%. Further back-up electrical upgrades continue with the installation of an additional six megawatts in backup generator capacity, which is expected to be commissioned and available in the fourth quarter. Evident improvements Due to both improved concentrator throughput rates and DMS availability, multiple records have been achieved since the completion of the debottlenecking program, the company adds. In the seven days following the August shutdown, a record of 5,545 tonnes of zinc in concentrate were produced, equivalent to an annual production rate of approximately 290,000 tonnes. Sustaining this run rate, Ivanhoe says, would make Kipushi the world’s fourth-largest zinc mining operation. In addition, a record 1,052 tonnes of zinc concentrates were produced over 24 hours in mid-August, equivalent to an annual production rate of over 340,000 tonnes of zinc, after accounting for availability. Following the completion of the debottlenecking initiatives, Ivanhoe’s management is expecting a “significant” increase in the rate of zinc production for the remainder of the year, and is keeping Kipushi’s 2025 production guidance unchanged at between 180,000 and 240,000 tonnes. The company has already cut its 2025 copper production guidance after seismic activity in May caused severe flooding at its Kamoa-Kakula mine, also in the DRC. Offtakes in place Last month, the company signed a three-year offtake agreement with Mercuria for up to one-third of the remaining unallocated zinc concentrate produced at Kipushi. In addition to the offtake, the Swiss trading group also provided Ivanhoe a loan of $20 million. Offtake agreements for the other two-thirds are already in place with CITIC Metal (HK) Limited of Hong Kong and Trafigura Asia Trading of Singapore. Shares of Ivanhoe Mines traded 3% lower on Wednesday morning, giving it a market capitalization of C$15.8 billion ($11.4 billion).

Mihai Jacob, a well-known market watcher, says the Bitcoin price rally that followed Powell’s Friday speech may not be as strong as it first looked. The charts, he explains, continue to flash signs of weakness that should not be ignored. According to Jacob, the flagship cryptocurrency could still face another sharp decline, and a drop below $100,000 remains a real risk despite the short-term optimism. Powell’s Speech Gave Bitcoin Price A Lift, But Charts Tell A Different Story Jacob explains that in his earlier analysis, he noted the $110,000 zone as a key level for Bitcoin. As long as that level held, the broader bullish structure could technically stay intact. Powell’s speech gave a hint of a possible rate cut, and for a moment, the market reacted with excitement, and Bitcoin bounced just as traders wanted. But Jacob quickly asks the hard question: was that bounce real strength, or just wishful thinking? He advises trading what you see, not what you hope for. And what he sees now on the charts does not match the initial joy of the rally. Soon after the move, Bitcoin returned to the $ 112,000 support level, erasing most of the gains. For Jacob, this suggests that the market may have been reacting to temporary news rather than initiating a new wave of growth. He warns that the bounce looks more like a retest of broken levels than a fresh start to a bigger move. In other words, what seemed like a comeback may actually be a signal that Bitcoin remains weak. Instead of buyers taking control, the chart suggests sellers are still in charge, waiting to push the price lower again. Why A Drop Below $100,000 Remains Likely Looking at the bigger picture, Jacob points out that Bitcoin still trades below the trendline that has been in place since April, highlighting the shape of the price action, which suggests a possible head-and-shoulders pattern is forming around the $110,000 zone. While not perfectly shaped, it is still enough to make cautious traders uneasy about what may come next. For Jacob, the excitement that came from Powell’s speech was likely nothing more than “rate cut euphoria,” and he believes the market is sending a very different message from what headlines suggest. The idea that Bitcoin would simply return to the same support level, giving late buyers another easy opportunity, is, in his view, hard to believe. More likely, it was a “dead cat bounce,” a short-lived move before another fall. Jacob makes it clear that his current stance is neutral in terms of active positions, but his outlook leans bearish. Optimism may be tempting, but he insists that discipline requires traders to trust the charts, not their hopes. With Bitcoin still struggling under key levels, he sees the possibility of a decline below $100,000 as very real.

Vietnam, the third-largest importer of gold in Asia, issued a decree on Tuesday abolishing its 13-year-old state monopoly on gold trading, causing a spike in local prices even as the government aims to normalize the market in the longer term. Gold bars sold by Saigon Jewelry Co., Vietnam’s largest state-owned gold and jewelry enterprise and the benchmark for bullion trading in the country, climbed to 125.7 million Vietnamese dong per tael for sellers, or about $4,096 per ounce at an exchange rate of 25,450 dong per dollar and 1.2 oz. per tael. Buyers were paying $4,162 per oz., as the new measures introduced short-term volatility. The country, which imported 55 tonnes of gold bars, jewelry and coins last year, compared with 857 tonnes for China and 803 tonnes for India, is addressing market distortions. Sole control by the State Bank of Vietnam caused large price premiums and rampant black-market trading and smuggling. The new decree, licensing commercial banks and eligible businesses to produce, trade and manage gold bars, pivots towards liberalization, competition and greater oversight. It helps align Vietnam’s gold market with international norms. “This ends the long-running state monopoly over the sector, which has at times led to a disconnect between local and global gold prices,” BMO Capital Markets said on Wednesday. “The change should ultimately enable gold imports to move in closer tandem with domestic demand, hence we see this as a positive development for the global gold market.” Transparency The decree also tightens transaction transparency. Any purchase or sale over 20 million dong (about $760) per person per day must be conducted through bank accounts. Licensed entities must issue electronic invoices and share transaction data with the central bank. While ending the monopoly, the state bank will still manage imports through quotas tied to macroeconomic conditions, monetary policy and market fluctuations. A more competitive market is expected to narrow price differentials between brands, expand consumer choices and reduce gold smuggling by creating a more orderly market. The changes have come quickly. In May, Prime Minister Phạm Minh Chính called for revisions to reduce distortions and restore macroeconomic stability. The Vietnamese dong had weakened sharply, prompting a surge in gold demand as a safe-haven asset. As of early August, gold was trading at a 32% premium locally, fueled by cultural demand and currency instability. Like in India and China, gold is deeply embedded in Vietnamese culture as a store of wealth, with demand rising during festivals and weddings.

Donald Trump Jr. has joined the advisory board of Polymarket, a blockchain-powered prediction platform, following significant investment by his venture capital firm, 1789 Capital. According to the press release dated 27 August 2025, Trump Jr’s 1789 Capital committed “tens of millions of dollars” to Polymarket following 18 months of discussion. The investment in Polymarket reflects 1789 Capital’s broader mission to support technologies that embody what it calls “American dynamism”, a growing theme among conservative venture capitalists focused on domestic innovation and economic resilience. The very same day, Trump Jr. launched a Telegram channel called The DeFiant Ones to promote an upcoming family-backed crypto project. The channel, since then, has gained 13000 subscribers and has positioned itself as the only official source for updates. EXPLORE: Top 20 Crypto to Buy in 2025 Key Takeaways Trump Jr. granted an advisory seat after significant investment in Polymarket via his venture capital firm, 1879 Capital Polymarket is eyeing a US return after acquiring US-licensed derivatives firm, QCEX The investment in Polymarket followed after 18 months of deliberations The post Donald Trump Jr. Joins Polymarket Advisory Board Following 1789 Capital’s Major Investment appeared first on 99Bitcoins.

Bitcoin is trading around $111,000 after several days of losing ground below its all-time high of $124,500. Bulls have managed to keep the price above the key $110,000 support, but momentum remains weak as attempts to push higher continue to fail. Some analysts warn of a deeper correction ahead if buyers cannot step in with stronger conviction. Top analyst Axel Adler shared new insights, pointing to the behavior of Bitcoin’s annual Adjusted MVRV. Currently, the metric has pressed against the 1.0 zone, meaning the short-term average (30-day) is almost identical to the longer-term average (365-day). In practice, this shows that the market is in a balancing phase: recent profit-taking and volatility are being absorbed by the longer-term growth trend, keeping the overall structure neutral. Historically, this 1.0 level has often represented a pause within bullish cycles rather than the end of them. It signals that the market is digesting recent gains as short-term holders hand coins to longer-term investors. Whether Bitcoin breaks down to test lower demand zones or stabilizes before another leg higher will likely be decided in the coming weeks, as traders closely watch this critical support zone. Bitcoin Adjusted MVRV Signals Pause, Not Reversal According to Adler, Bitcoin’s annual Adjusted MVRV is currently pressed right at the 1.0 zone, and the dynamics behind it tell an important story. The annual basis remains positive, and its curve looks largely horizontal because two opposing forces are offsetting each other. On the one hand, the 30-day metric has cooled significantly as volatility eased and profit-taking slowed after the latest push to all-time highs. On the other, the heavier 365-day average still reflects the gains of past months, holding up the broader trend. This synchronization between numerator and denominator compresses the difference, keeping the basis line steady rather than sliding downward or accelerating upward. In simple terms, the market is digesting the previous rally rather than breaking down. Adler stresses that this situation at the 1.0 zone should not be mistaken for the end of a cycle. Instead, it represents a pause within an ongoing bullish structure. As long as the annual basis does not reverse downward, the market is essentially redistributing coins from short-term speculators into the hands of more patient holders. There are no strong signs of capitulation, only consolidation. Over the next couple of weeks, the reaction at 1.0 will be critical. Whether Bitcoin holds firm and builds momentum or slips toward deeper corrections will define the next phase. For now, Adler sees this as more a matter of time and balance than a warning of a cycle-ending reversal. BTC Testing Support Around Pivotal Level Bitcoin continues to consolidate after a sharp retrace from its all-time high of $124K, now trading near $110,823. The daily chart shows BTC struggling to hold above the $110K support zone, which has become a key battleground for bulls and bears. The 50-day SMA is trending around $116,600, while the 100-day SMA is near $111,600—levels that are now acting as resistance. Meanwhile, the 200-day SMA sits lower at approximately $101,000, marking the deeper structural support. A decisive loss of the $110K zone could accelerate selling pressure, potentially leading Bitcoin to test the 100K–107K support range, a critical confluence highlighted by analysts due to the alignment with the STH Realized Price. On the upside, Bitcoin must reclaim the $115K–$117K region to shift momentum back in favor of bulls. Failure to do so risks further consolidation and market uncertainty. The rejection at the $123K level last week highlighted strong overhead resistance, with sellers stepping in aggressively. Featured image from Dall-E, chart from TradingView

The XRP price has been one of the most closely watched cryptocurrencies in the market, and technical analysts are now pointing to a major breakout setup that could send its value to new levels. According to TradingView crypto market analyst HolderStat, XRP is currently consolidating, with a critical resistance line standing between the cryptocurrency and a potential surge toward $4. Daily Chart Signals Consolidation Before Breakout On the daily timeframe, HolderStat highlights in his chart analysis on TradingView how XRP has recently completed a breakout from a large triangle formation that developed over several months. This move carried the asset sharply higher, but after reaching its peak, the price entered into a consolidation zone. The analyst’s chart now shows that XRP is trading sideways near $3.20-$3.48, indicating that buyers may be soaking up sell pressure while preparing for the next move. The analysis also identifies $3.48 as the immediate resistance line that traders are closely watching. HolderStat predicts that a decisive breakout above this resistance line could pave the way toward higher targets at $3.8 and possibly $4, levels not seen since XRP’s previous ATH rally in the 2018 bull market. On the downside, $3.20 remains the key support level. If XRP fails to hold this line, it could face renewed selling pressure, potentially triggering steeper price corrections. Overall, HolderStat’s chart structure suggests that momentum is building for XRP, with sideways price action viewed as a healthy pause before the next leg. At the time of writing, CoinMarketCap data shows the cryptocurrency trading at $3.00, up 2.79% over the past 24 hours and 3.33% in the last seven days. 6H Chart Shows Accumulation With Higher Levels In a follow-up analysis, HolderStat shared a 6-hour chart, which shows a similar but more detailed accumulation pattern for XRP. The shorter timeframe reveals that the token has been printing higher lows while consolidating within a channel. This type of market behavior often indicates that bulls may be taking control, as bearish pressure subsides. The analysis also underscores the importance of the $2.70 support level. As long as the XRP price holds this critical zone, HolderStat notes that the bullish structure remains intact, and the price has a strong chance of breaking higher. Building on this momentum, he predicts that a successful move beyond $3.20 – $3.40 on the 6-hour chart would confirm the bullish continuation, reinforcing the outlook presented in the previous daily analysis. The analyst’s findings are further supported by other market watchers. SwallowAcademy, another crypto expert on TradingView, commented that the market appears to be coiling up, with consolidation acting as a springboard for the next potential rally. If momentum picks up, the analyst agrees that XRP could quickly advance toward $3.8 and $4 in the short term.

Like other FX pairs, USDJPY has been held in a tight range for the past two full weeks. There is a lack of clarity regarding the outlook for US cuts due to contradicting data, supplemented by Markets having digested a more balanced/dovish tone from Powell rather than a fully dovish one (from a more balanced/hawkish tone regarding the impact of tariffs). The question remains: Will there be only 2 cuts this year? This would not change much to the FED's quarterly outlook from previous meetings. Markets are also awaiting more information regarding who will be the next FED board member. Reactions to the US Dollar have been minimal regarding the firing of Lisa Cook, a board member (hence a continuous voter). The Bank of Japan has been waiting for the Federal Reserve to cut rates to reduce the huge rate differentials that have hurt the Yen throughout the past 3 years. Luckily for the BoJ, a basis trade unwind in July 2024, combined with US Dollar weakness, has gradually naturally reduced the Yen's relative weakness. However, it is still at relative lows against its European peers. Let's examine USDJPY multi-timeframe technicals to see if the daily USD rally is enough for the pair to break out of its range and establish its boundaries. Read More:What’s driving the US Dollar after Powell’s Friday remarks? Dollar Index (DXY) outlookMarkets Today: Trump Slaps 50% Tariff on India, Australian Inflation Surge, FTSE Eyes Head & Shoulder Pattern. NVIDIA Earnings LaterUSDJPY multi-timeframe technical analysisUSDJPY Daily Chart USDJPY Daily Chart, August 27, 2025 – Source: TradingView The most volatile FX pair has been held into a 1,000 to 1,900 pip range for the past 18 days, a prolonged consolidation compared to the usual. Despite all of the headlines throughout the year, nothing really changed compared to the fundamentals of the year-beginning – Markets are still awaiting for a concrete change to the main rates for both the FED and the Bank of Japan, leading to some mostly rangebound action since May. The range has tightened quite a lot however this month, located between 146.80 (lows) to 148.70 (range extremes), with the price action located between the 50 and 200-Day Moving averages acting as key boundaries. As a matter of fact, they will be acting as key indicators for a more concrete breakout – expect rangebound action as long as prices remain within these boundaries. Let's discover where they stand just below. USDJPY 4H Chart USDJPY 4H Chart, August 27, 2025 – Source: TradingView The 4H timeframe allows to spot the current price action heading higher as the current US Dollar buying is bringing the pair above the 200 4H-period MA in a higher-low formation, supported by a short-timeframe upward trendline. A higher timeframe Head and Shoulders could also be into play but its long-shape may not create enough clarity to make the pattern valid – It is still noteworthy but hold about a 35% chance of materializing further. Key trading Levels for USDJPY: Resistance Levels 148.78 last Friday highsMay range extremes from 148.70 to 149.50 (daily MA 200 in confluence)149.00 200-Day MA Key range resistanceSupport Levels Pivot at the 148.00 zone (acting as immediate support)147.00 50-Day MA Key range support146.50 mid-range and immediate support (Daily MA 50 in confluence)145.00 psychological supportUSDJPY 1H Chart USDJPY 1H Chart, August 27, 2025 – Source: TradingView Looking even closer, bulls will have to push harder to break the last Friday highs as price action is stalling at the high of 148 pivot Zone, a key short-term pivot. Particularly as markets lack further data and fundamentals to break out from rangebound price action, the short-term outlook is more rangebound than breakout-prone. Look at the top in the 1H RSI, if buying goes further, it will add to more chances of testing the range extremes around the last Friday highs. Safe Trades! Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Kyrgyzstan has begun underground gold production at Kumtor, one of Central Asia’s largest bullion mines, which officials say could contain up to 147 metric tonnes of reserves. President Sadyr Japarov nationalized the mine in 2021, taking it over from Canada’s Centerra Gold (TSX: CG) following years of litigation. The move ended with a settlement under which Centerra abandoned its claims and its subsidiary, Kumtor Gold Company, filed for bankruptcy. Kumtor was once Centerra’s biggest asset, accounting for more than half of its total output. Since nationalization, the mine has generated $3.4 billion for Kyrgyzstan, according to government figures. Japarov told local media that state workers have dug 1,600 metres of tunnels so far. “The underground project is expected to operate for 17 years, and geological reserves of 147 tonnes of gold (or 32,150 troy ounces) have been added to the state balance sheet,” Japarov said according to 24.kg. The Kyrgyz news agency did not provide a monetary value for Kumtor’s reserves, but gold has recently traded at record highs above $3,000 an ounce. At current prices, this suggests that the gold mine holds nearly $14.2 billion just in fresh-added reserves. Kyrgyzstan also plans to start processing Kumtor’s massive tailings pond, which the government says holds more than 100 tonnes of gold. The mine, developed by Centerra in 1997, lies about 50 kilometres from the Chinese border in eastern Kyrgyzstan. It remains a top employer and a key driver of industrial output, contributing roughly a fifth of the country’s total production. Output slipped to 12.6 tonnes in 2024, down from 13.6 tonnes the year before.

An X post by Bonk core contributor Nom (@TheOnlyNom) argues that a new wave of Digital Asset Treasury (DAT) vehicles aimed at SOL could move price more than comparable Bitcoin or Ether treasuries—because of Solana’s smaller market cap, heavy staking that suppresses immediately available float, and the ability for treasuries to buy discounted or locked tokens before they ever touch the open market. Why Solana DATs Could Move Price 10x Faster Than ETH “SOL DATs will be more efficient at accumulating currently trading supply (which is different than circulating supply) compared to ETH or BTC DATs,” Nom wrote, adding that “the recent announcements of $2.5b in SOL DATs should be looked at like a $30b raise for ETH or $91b for BTC.” Nom opens with disclosures and caveats rather than price calls. “I’m not going to argue whether inflation is good or bad, I have already spent enough time talking on that and look forward to the changes,” he wrote. He also underscores his own positioning and bias: “I am a spot SOL, staked SOL, and locked SOL holder (thanks to an SPV on the estate SOL) … I would also like tokens I own to go up in value—so a flat token price is bad in my point of view.” On the overhang from the FTX bankruptcy estate, Nom contends that the risk is shrinking fast even if it still looms in the narrative. “At the time of bankruptcy, FTX’s estate held 41m SOL tokens … with the majority going to the folks at Galaxy and Pantera with strike prices of approximately $64 and $102 … this is currently massively in the money at Solana’s current ~$190 price tag,” he wrote. Based on his reading of staking accounts and vesting schedules, Nom estimates the “‘Estate SOL’ is currently at about 5 million units remaining to be unlocked, or about $1b notional.” He sets that against broader unlocks: “From the good folks over at 4shpool (gelato.sh) there’s about 21m [units] of Solana remaining to unlock until 2028, or ~$4b notional at current pricing … ‘Estate SOL’ is ~1/4 of all remaining SOL to be unlocked.” The thread’s central mechanism is flow versus float. Nom argues that issuance plus unlocks create persistent sell pressure unless matched by price-insensitive buyers. “This matters for one specific number that we need to focus on, which is the amount of SOL hitting the market on a daily basis,” he wrote. “If you give someone tokens for free (staking inflation/unlocks) or at a discount (FTX SOL) — you can expect some % of people to sell. I assume 100% of this inflation of 37.5m SOL in the next year to be sold.” That sets a high bar for demand: “In order to offset 37.5m SOL a year at $200 SOL … you need ~$7.5b/year in inflows, or ~$20.5m per day.” The Differences Between SOL And ETH Crucially, he argues, DATs can meet that bar more efficiently if they accumulate outside the open market. “If the DATs can more efficiently buy SOL at a discount from either the estate SOL, or other locked SOL areas, that improves the efficiency of the inflows,” he wrote. “Raising $400m to buy SOL at a 5% discount is equivalent to $420m in inflows, which is better than $400m in inflows—the only question is how do you equate the time value of buying SOL off the market today, vs removing future sales tomorrow.” He adds that, on his numbers, issuance dominates the supply picture: “Our inflation over the next 3 years is greater than the unlocks (EOY 2028 as end of lock schedules) … and the FTX SOL is only a quarter of the remaining unlocks—so the DATs buying the estate SOL rather than the market is not a realistic concern.” Nom insists the difference between “trading supply” and headline “circulating supply” is what makes SOL especially sensitive to steady buyers. “Circulating supply is NOT equivalent to amount available on the market, especially for staked assets. You cannot buy staked SOL, but you can buy LSTs,” he wrote. Citing current snapshots, he notes, “Solana has 384m of its 608m SOL staked currently, or 63.1% off the market. LSTs account for 33.5m SOL, so let’s put that back as supply available to buy and round it to 350m/508m off the market, or 57.5% off the market and unavailable for purchase (at least with a 2 day lag).” By his math, that thinner immediate float means each new dollar has more price impact than on chains with lower staking penetration. Valuation magnifies the effect, he says. “Solana is at a much lower valuation than ETH or BTC … a dollar spent on a SOL DAT is like $5 on an ETH DAT or $22 on a BTC DAT when looking at relative valuations.” Adjusting for staked versus readily tradable supply, he pushes the comparison further: “When you factor in the circulating supply amounts with staking, that’s closer to 11x for ETH efficiency or 36x for BTC efficiency.” He also weaves in the role of ETFs and corporate vehicles alongside treasuries. “SSK is doing some of the work at roughly $2m/day in inflows since launch, however the inflation schedule needs 10x inflows — and this will likely come with further ETF approvals,” he wrote, arguing that DATs have a flywheel effect: “These DATs take supply off the market, they earn tokens based on staking yield … and they make subsequent buys by vehicles like ETFs more effective at moving the market.” On sector leadership, he’s blunt about the need for a standard-bearer: “SOL DATs need a Michael Saylor or a Tom Lee, narrative is the name of the game.” His summary distills the thesis to a few lines: “Right now less than 1% of supply is under SOL DAT management, this will likely shift to 3% with the 3 newly announced vehicles, and 5% with planned future vehicles.” “Current ETF inflows are not sufficient,” he added, “however larger vehicles should be approved by start of Q4 and SOL remains a contender for institutional bid.” Solana Treasury Boom In The Making Notably, Nom’s framing arrives amid a cascade of new vehicles. On Aug. 25–26, Galaxy Digital, Multicoin Capital and Jump Crypto are in talks to raise roughly $1 billion to build a publicly traded Solana treasury company, with Cantor Fitzgerald as lead banker. Separately, Pantera Capital is weighing a plan to raise up to $1.25 billion to convert a Nasdaq-listed firm into “Solana Co.,” a dedicated SOL treasury vehicle. Meanwhile, Nasdaq-listed Sharps Technology announced a $400 million private placement explicitly to establish what it calls the largest corporate Solana treasury to date. Together, these deals sketch out at least $2.5–$3.0 billion of potential new institutional demand pointed squarely at SOL. At press time, SOL traded at $204.

Painting new lows last Friday, gains in today’s session keep the dollar-franc exchange above the key level of 0.8000 - at least for now. Currently trading around ~$0.80698, recent developments on the Federal Reserve’s autonomy on monetary policy and potential action by the SNB continue to dominate USD/CHF headlines. USD/CHF: Key takeaways from today’s session Boasting reasonable gains in Monday’s session, despite a public holiday in the United Kingdom, USD/CHF trades ~0.46% higher today, as markets adjust expectations for Federal Reserve monetary policy Otherwise, questions continue surrounding Federal Reserve independence from the US central government, with President Trump attempting to fire board governor Lisa CookHaving reminded markets that intervention remains a real possibility, the SNB remains poised to take action should the franc stage a runaway strengthening versus the dollarUSD/CHF: Dovish fed commentary at Jackson Hole spells trouble for US dollar Put simply, markets are increasingly certain of a September rate cut, in no small part because of dovish Federal Reserve commentary during last week’s Jackson Hole Symposium. "With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance" Jerome Powell speaking at the JHS, August 22nd, federalreserve.gov While markets have consistently predicted Fed rate cuts in the remainder of 2025, confirmation from Jerome Powell himself now have markets overwhelmingly predicting a rate cut of 25 BPS in the upcoming decisions September 17th. CME FedWatch, 26/08/2025 As for USD/CHF pricing, markets would do well to acknowledge how much the dollar has fallen versus the franc this year despite the Federal Reserve's best efforts to tighten monetary policy, especially when compared to the SNB. As such, any suggestion that the Federal Reserve will lower rates will negatively affect the dollar and introduce selling pressure in USD/CHF markets, a phenomenon seen just last Friday. Read more on Jackson Hole: Markets go wild from the Jackson Hole Symposium – Market wrap for the North American session - August 22 USD/CHF: Dollar finds support as Trump firing bid meets a dead-end While building anonymity between the Republican party and the Federal Reserve is not a hot topic, the latest developments are perhaps the most significant for dollar-franc markets. @realDonaldTrump, TruthSocial, 25/08/2025 Sharing the above letter yesterday on his social media platform of choice, TruthSocial, President Trump has made his intentions to fire Governor Cook clear, citing alleged mortgage fraud. While matters of fraud amongst government officials would not typically be of such interest to financial markets, the move reignites discussion whether any US government should have the power to fire Federal Reserve officials, considering political independence is a core tenet of the institution. Supposing Trump successfully removes Cook from office and overcomes various legal hurdles, an interesting precedent will be set, especially considering that Trump has been clear in his dislike for Powell and his policy of higher interest rates. Regarding USD/CHF price action, any developments suggesting that Trump can wrangle more control of the Federal Reserve and its employees and, therefore, appoint governors who favour an aggressive lowering of interest rates will likely introduce some dollar-franc selling pressure. As such, the next few days remain crucial, especially with USD/CHF hovering around the key level of 0.80000. USD/CHF: SNB ready to intervene to halt CHF strengthening Having already strengthened significantly compared to the dollar in the first half of the year, the trusted tool of currency intervention by the SNB remains a real possibility should dollar-franc continue to its decent. Already trading around multi-year lows and citing the competitiveness of imports, USD/CHF downside may be capped in the near-term, considering the SNB’s clear commitment to intervention where appropriate. USD/CHF, OANDA, TradingView, 27/08/2025 Read more analysis from today: Markets Today: Trump Slaps 50% Tariff on India, Australian Inflation Surge, FTSE Eyes Head & Shoulder Pattern. NVIDIA Earnings Later Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

Rio Tinto’s (ASX, LON: RIO) new chief executive Simon Trott has launched a sweeping overhaul of the miner’s structure, consolidating operations into three core divisions while placing several non-core assets under review. Trott, who took the helm on Monday after leading the company’s iron ore business, said the restructuring would simplify Rio Tinto’s portfolio into iron ore, copper, and aluminium–lithium units. Matthew Holcz has been appointed chief executive of iron ore, Rio Tinto’s biggest profit driver. The newly unified division will combine Western Australian operations with Iron Ore Company of Canada (IoC) and, once operational, the Simandou project in Guinea. Some mineral assets are moving to a different portfolio for review. Richards Bay Minerals in South Africa, Canada’s iron and titanium operations, and US borates mines will be transferred to Chief Commercial Officer Bold Baatar, who will oversee a strategic assessment that could lead to sales. Rio Tinto is merging its lithium business with aluminium under the leadership of French national Jérôme Pécresse, based in Montreal. That group will comprise Atlantic Operations Aluminium, Pacific Operations Aluminium, and Lithium. Executives exit The shake-up also brings leadership changes. Kellie Parker, the chief executive of Australia who played a key role in rebuilding Rio’s reputation after sexual assault claims and the 2020 destruction of a sacred Indigenous site, is leaving the company. Minerals head Sinead Kaufman, who had been considered for the top job, is also departing. The revamp comes as Rio Tinto grapples with falling iron ore and lithium prices and rising costs. Its July half-year profit of $4.8 billion was the lowest since 2020 and 16% lower than a year earlier. The minerals division under review has been under pressure. It generated $143 million in underlying earnings in 2024, down from $312 million in 2023, and remained cash-flow negative for two straight years as growth spending outpaced revenue. Borates, used in glass and industrial cleaners, and titanium dioxide, a pigment for paints and ceramics, have both faced weak demand and prices. Analysts at RBC Capital Markets said the scope of the review appeared limited, noting they had expected possible divestments in aluminum, iron ore and lithium. They described the review of borates and titanium as “low-hanging fruit” in a portfolio facing competing demands for lithium investment.

As XRP pushes back toward $3, a noted Bitcoin maximalist and longtime skeptic has posted a fresh price outlook. The estimate grabbed attention because it mixes chart work with a currency clarification that changed how some readers first reacted. Pattern And Price Action According to the analyst, XRP formed a clear W pattern on the weekly chart after topping near $3.4 in January. The sequence he highlighted ran from a $3.4 high to a low of $2.11 in April, a bounce to $2.6 in May, then a slide toward around $2 in June before the latest rally pushed back above the prior January high. That return, he says, completed the formation. He described the move as organic price action, contrasting it with a sharp 580% surge between November 2024 and January 2025 that he suggested showed signs of abnormal force. Fibonacci Target Translated Based on reports, the analyst mapped Fibonacci extension levels from that chart sequence. The Fib 1.61 point came in at 4,555 Chilean pesos. He also flagged a nearby range in the 4,700 pesos area. Earlier he posted a 4,761 figure that many readers assumed was in US dollars; he later clarified it was denominated in Chilean pesos, which converts to roughly $4.93. In plain terms: his near-term math points to XRP approaching the $5 region, not $4,761. He added that XRP could push a little past the 1.618 mark before cooling off. The same analyst has not always been bearish. He once predicted a potential run to between $20 and $24 during this cycle, while still expressing doubts about long-term fundamentals. Back in January he said any upside would be cycle-driven rather than based on a change in his view of XRP’s core case. Whether the new CLP target is a stop along a path to that higher forecast remains unclear from his comments. Institutional Flows And Futures Activity Meanwhile, reports have disclosed that XRP futures listed by CME hit $1 billion in open interest faster than any other crypto product in the exchange’s history. The contracts launched on May 19, 2025, and reached that mark in just over three months. Since the launch, traders moved 251,000 contracts with a combined notional volume of $9.02 billion. Average daily trading on those contracts was $143 million, and a one-day record of $235 million was set in July. Those numbers show a rising level of institutional and retail participation in derivatives tied to XRP. The analyst now sees XRP climbing near $5 based on Fibonacci levels, a shift from his earlier skepticism. At the same time, CME reports XRP futures hit $1 billion in open interest in just three months, signaling strong market momentum as the token battles to hold above $3. Featured image from Meta, chart from TradingView

Trump Media and Technology Group has announced a $6.42 billion deal with Crypto.com to create a publicly traded crypto treasury firm via a SPAC merger. The partners will focus on accumulating CRO – Crypto.com’s native token. But what is a SPAC Merger? Special purpose acquisition companies (SPACs) are formed to raise capital through an IPO, which can then be used to acquire or merge with another company. As TMTG announced on 26 August 2025, “Trump Media Group CRO Strategy will use its funding to establish a digital asset treasury of CRO, the native token of the Cronos blockchain ecosystem.” Interestingly, back in May 2025, Trump Media announced a $2.5 billion deal with Crypto.com for its Bitcoin treasury. TMTG’s latest $6.42 billion announcement also follows Michael Saylor’s Strategy playbook that began accumulating Bitcoin in 2020. Commenting on the partnership, TMTG Chairman and CEO Devin Nunes said, “Financial markets are becoming increasingly digital every day, and companies of all sizes and sectors are strategically planning for the future by establishing digital asset treasuries anchored by assets that have created a comprehensive value proposition and are poised for even greater utility.” CRO rallied as it registered intraday gains in the 20-30%. Furthermore, Tump Media stock (DJT) ticked higher. However, Yorkville dipped modestly. Crypto.com Co-Founder and CEO Kris Marszalek said, “The sheer size and structure of this project will encompass more than the entire current market capitalization of CRO, with the additional commitments of over $400 million in cash and a further $5 billion line of credit facility to acquire additional CRO.” “This, combined with share lock-ups by each party and the treasury’s validator strategy, make it a unique and compelling offering compared to all other digital asset treasuries,” Marszalek added. EXPLORE: The 12+ Hottest Crypto Presales to Buy Right Now Key Takeaways TMTG and Crypto.com’s SPAC-backed CRO treasury company is a high-profile bet on single-token accumulation strategy. Following the announcement, CRO spiked sharply intraday. Reports cited jumps above 20% and near 30%. The post Trump Media And Crypto.com Partner To Launch $6.42B ‘Saylor-Style’ Crypto Treasury appeared first on 99Bitcoins.

Cronos crypto news hit fever pitch as CRO token rocketed 39% in a single day, smashing through its yearly high above $0.20. It is exciting for CRO as Trump Media comes with a bold move into the crypto.com coins. The Trump-Crypto.com partnership news is shaking up the scene, jumbling politics and crypto in unexpected ways. It is not the first Trump crypto rodeo; he has been known to be a crypto-friendly president. Not only did he launch his namesake coin, and of course, his family members’, but he also says that crypto will fix the traditional finance flaws. Integration rolls out on Truth Social and Truth+ will let users earn CRO rewards for posts and interactions as the first implemented utility. Subscriptions will be paid via Crypto.com wallets, exposing crypto to retails. New features like crypto ETFs, including Bitcoin and CRO options, will also add layers to the platform. DJT stock also climbed 10% on the news, an event of cross-market ripples. Cronos crypto news is now exciting with over $300 million in 24-hour volume. The treasury mimics Bitcoin plays from firms like MicroStrategy and Lubin’s Sharplink Gaming. (DJT/USD – source – TradingView) On the other news, Numeraire NMR also joining the Cronos rally, spiking over 100%, and landing the crypto to gainers ranking. JPMorgan comes with $500 million commitment to Numerai’s AI hedge fund to double the assets under management from $450 million. Today, both tokens are in the top gainers’ lists. NMR is not stopping and Cronos crypto news dominates. Market is rebounding, and these both NMR and Cronos news is hinting at crypto treasury trends. DISCOVER: Best Meme Coin ICOs to Invest in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates There are no live updates available yet. Please check back soon! The post [LIVE] Cronos and NMR Crypto Blasting To The Sky: What The F Trump Did To CRO appeared first on 99Bitcoins.

Now that CRO crypto is a Trump-sponsored coin, what is a good Cronos Crypto price prediction for 2025? CRO price just staged one of its sharpest moves in months, climbing close to +40% in 24-hours and breaking past the $0.20 mark. Apologize. Say sorry to Matt Damon. Matt, if you’re reading this, which I strongly suspect you are (but I would never assume because I respect you), I’ve always believed in you. The fuel came from Trump Media, which disclosed a $1 billion play on Cronos, or 6.31 billion tokens folded into its ecosystem. Here’s where 99Bitcoins analysts believe the CRO price will go by the end of 2025. Spoilers: you haven’t seen anything yet. “This partnership transforms CRO from an exchange coin into a Web3 social utility token,” a Trump Media statement. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Cronos Crypto Price Prediction 2025? Can Cro Price Break $1? (CROUSDT) The Trump Media deal triggered a 1,060% surge in daily trading volume for Cronos Crypto, with CRO turnover topping $551 million, according to CoinGecko. On-chain activity also spiked, with active addresses hitting 20,465 on August 22, the highest in more than a year, per Cronoscan data. ETF speculation has added fuel. The SEC recently delayed Trump Media’s proposed “Crypto Blue Chip ETF,” which includes a 5% CRO crypto allocation, until October 8. Another filing from Canary Capital for a Staked CRO ETF is still pending. Even with delays, CRO’s inclusion cements its reputation as a compliance-friendly asset. Technically, CRO has blasted through its 200-day EMA ($0.113), and indicators remain bullish: RSI sits near 74 (showing strength, but nearing overbought). MACD is firmly positive. Moving averages across daily and weekly timeframes flash “Strong Buy.” CronosPriceMarket CapCRO$7.49B24h7d30d1yAll time 99Bitcoins analysts now eye $0.22 as immediate resistance. If Trump Media follows through with staking billions of CRO and embedding it into Truth Social, the supply shock could drive a multi-week rally. With Trump’s backing now baked into the narrative, Cronos is positioning itself as a candidate for the top ten. At current market caps, that would imply a 2–3x move which is well within reach by year’s end if momentum holds. DISCOVER: 20+ Next Crypto to Explode in 2025 Is Cronos the Next Altcoin to Watch in 2025? (DeFiLama) The CRO surge highlights how political and corporate treasuries reshape altcoin markets, much as MicroStrategy did with Bitcoin years ago. However, volatility remains a risk as CRO’s jump could unwind just as quickly if enthusiasm fades or ETF decisions disappoint. For now, though, CRO’s transformation from an overlooked exchange token into a potential Web3 social currency has made it one of the most watched assets heading into Q4 2025. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways Now that CRO is a Trump-sponsored coin, what is a good Cronos Crypto price prediction for 2025? CRO just staged one of its sharpest moves. With Trump’s backing now baked into the narrative, Cronos is positioning itself as a candidate for the top ten. The post Cronos Crypto Price Prediction: Trump Media Buys $1B in CRO, Sending Price Soaring appeared first on 99Bitcoins.

Overview: After yesterday's pullback, the US dollar has rebounded. It is trading its best level against several of the G10 currencies since Fed Chair Powell spoke at Jackson Hole before the weekend. Most emerging market currencies are weaker, too, with the notable exception of the pegged Hong Kong dollar, and the Thai baht. The PBOC set the dollar's reference rate at a new low for the year, but the greenback is firmer against both the onshore and offshore yuan. Washington's extra 25% levy on India for buying Russian oil went into effect today but Indian markets are closed for a national holiday. China and Hong Kong indices were off more than 1% amid profit-taking. Europe's Stoxx 600 is a little firmer after the past two sessions when it fell around 1.3%. US index futures are practically flat. European benchmark 10-year yields are mostly 1-2 bp lower. The French two-year and 10-year yields are poised to rise above Italy's. The 10-year US Treasury yield is one basis point higher, slightly below 3.66%. The US will sell $28 bln two-year floating rate notes and $70 bln five-year notes, and $65 bln of four-month bills. The firmer dollar and firm rates saw gold turned down from a two-week high near $3394 after posting what appeared to be a bullish outside day yesterday. October WTI is trading at a four-session low in Europe near $63. USD: The Dollar Index is chopping inside the broad range set before the weekend, roughly between 97.55-98.85. It reached nearly 98.70 today after recording a low yesterday slightly below 98.10. While the price action is messier than we anticipated, it may take an unexpectedly strong US jobs report on September 5 to negate our bearish dollar outlook. In terms of the price action, a move above last Friday's high was blunt negativity of the outside down day that was recorded then. US durable goods orders tumbled by 12.2% in June and July, the sharpest two-month decline since the pandemic. Some of the details, though, were better than expected, including core orders (excluding aircraft and defense) which rose 1.1% instead of the 0.2% of the median forecast in Bloomberg's survey. Core shipments rose by 0.7% (vs. 0.2% expected). Today's economic calendar is light. Tomorrow sees revisions to Q2 GDP, which may be tweaked up to 3.1% from 3.0% and weekly jobless claims. The 11k rise in the week ending August 15 was the largest in three months. The seasonal adjustment accounted for almost 2/3 of the rise. Continuing claims are at their highest since November 2021, rising by 30k, which speaks to the weak demand for labor. Richmond Fed President Barkin speaks today. He is on the hawkish side of the spectrum currently but does not have a vote this year. Governor Waller, one of the dissenting votes at the last meeting, speaks tomorrow. EURO: The euro settled a little above $1.1605 last Thursday, the day before Fed Chair Powell's speech at Jackson Hole. It fell slightly below $1.1585 shortly before Powell spoke. It had held above $1.16 this week, until today, when it was pushed to almost $1.1575. The $1.1565 area corresponds to the halfway point of this month's range. The (61.8%) retracement is near $1.1525. The next front in the US-EU macabre dance emerged: digital services tax. President Trump has threatened new export restrictions and tariffs in retaliation for the tax that exposes US companies. EC officials defend the digital service tax while preparing to publish the legislation formalizing the trade framework struck with the US. When this is done, the US promised to lower the 27.5% tariff on EU autos and parts to 15%. Still, the agreement needs a qualified majority of members to approve as well as the European Parliament. The task is fraught with risk. Lastly, we note that pressure on France is increasing. A confidence vote (September 8) threatens the tenure of the Bayrou government. Recall that the last government, under Barnier, collapsed at the end of last year over the same issue: the government seeks steep reductions in public spending without the support of parliament. The 10-year French premium over Germany near the widest in four-months (~75-80 bp), and it is conceivable that the French yield rises above Italy's. The two-year yield is already knocking on Italy’s. It does not help sentiment for French Finance Minister Lombard warn that it may have to turn to the IMF. CNY: The greenback approached the year's low against the offshore yuan recorded in July near CNH7.1440. earlier today before rebounding to almost CNH7.1650. Yesterday's low was nearly CNH7.1470. Nearby resistance is seen around CNH7.1685 and then CNH7.1735. The PBOC set the dollar's reference rate at CNY7.1161 on Monday, a new low since last November. Yesterday's fix was at a new low since last November today at CNY7.1108 (CNY7.1188 yesterday). The changes of the daily fix tend to be greater on the dollar's downside than upside for at least the better part of the past two months. China reported that industrial profits fell 1.5% year-over-year. Strong profits from the high-tech sectors offset part of the weakness in other industries. Meanwhile, Chinese figures show that rare earth magnets exports to the US reached a six-month high in July of 619 metric tons. This was a 5% increase year-over-year and a 76% increase month-over-month. The US is the second largest export market for rare earth magnets after Germany. Shipments to Germany reached 1115 metric tons in July, which represented a 6% increase month-over-month, but a 3% decline year-over-year. JPY: The dollar remains well within the range set last Friday of about JPY146.60 to JPY148.80. It rose to a new marginal high for the week near JPY148. The greenback settled above JPY148 twice this month. Both times the US dollar was sold into the follow-through buying in the following session. The intraday momentum indicators suggest the scope for additional gains may be limited today. Meanwhile, we note that the latest opinion polls show support for Prime Minister Ishiba has improved. A poll in Yomiuri Shimbun, released earlier this week, found 50% of the respondents think he should remain in his post and 42% said he should resign. In a poll last month, 54% said he should resign and 35% though he should stay. A survey by Kyodo News put support for the cabinet at 35.4%, up 12.5 points after July's upper house electoral defeat. A poll by Mainichi Shimbun puts support for Ishiba at 33%, the first time he has broken above 30% since February. GBP: Sterling was sold to $1.3435 yesterday before rebounding to almost $1.3495. Initial resistance is seen in the $1.3500-20 area. It briefly slipped through yesterday's low to make a marginal new low for the week near $1.3430. It remains comfortably in the range set last Friday (~$1.3390-$1.3545). With rate cuts expected in the US and Norway this year, and fading hopes of another UK cut, and sterling may be supported by being the high yielder with the G10. Meanwhile, the UK's 10-year premium over Germany has pushed above 200 bp for the first time in two months, and its two-year premium set a new high for the month near 205 bp. The euro has not closed below GBP0.8600 since July 1 but we suspect that with the widening rate differentials, the risk is on the downside, provided the GBP0.8665-70 area holds. The euro is trading a new five-day low around GBP0.8620. CAD: The greenback was turned lower after approaching CAD1.3870 yesterday. This represented the (50%) retracement of the Powell-induced sell-off at the end of last week. At the low near CAD1.3520, it approached the Friday-Monday low near CAD1.3815. The 20-day moving average is slightly below there, and the US dollar has not settled below it since July 24. The greenback is firm but in a narrow range today, holding a little above CAD!.3825 but capped ahead of yesterday's high. As is often the case, when the US dollar is bid, the Canadian dollar the best performing G10 currency today, off around 0.1%. AUD: The consolidation of the Australian dollar in the past two sessions is under pressure today. It settled at $0.6490 before the weekend and a few hundredths of a cent higher yesterday. Today, it came within 1/100 of a cent of Monday's high ($0.6505) band was turned back, falling to a three-day low near $0.6465, which is near the (50%) retracement of the rally from last Friday's lows. The (61.8%) retracement is around $0.6450. Australia's July CPI surged much more than expected. It jumped to 2.8% from 1.9% in June and the trimmed mean measure edged up to 2.7% from 2.1%. Housing jumped 3.6%, bolstered by higher electricity prices. The central bank puts more stock on the quarterly report but the bar to a cut next month after reducing the cash rate target earlier this month was always high. The odds in the futures market have been hovering below 30% for the past two weeks and are now near 20%. Still, the cut is fully discounted, plus some, at the following meeting in November. Nearly 30 bp is priced into the futures market, down from 35 bp yesterday. The policy-sensitive three-year yield rose nearly three basis points today. MXN: In a little more than three-months through late July, the dollar fell by about 12.2% against the Mexican peso. Since then, it has been chopping in between about MXN18.51 and MXN19.00 range. The peso was little changed yesterday, but the Brazilian real (~-0.60%) and the Colombian peso (~-0.75%) were the weakest among emerging market currencies. The dollar is trading a new high for the week in Europe today, near MXN18.73, and fraying the 20-day moving average (~MXN18.72). Last Friday's high was around MXN18.7760. Mexico reports July trade figures today. In H1 25, Mexico recorded an average monthly trade surplus of about $239 mln. In H1 24, the average monthly deficit was nearly $1.82 bln and $1.16 bln in H1 23. Exports have risen by almost 4.4% year-over-year while imports have risen by slightly less than 1.8%. Disclaimer

Asia Market Wrap - India Tariffs Kick In, Australia CPI Surge Most Read: NVIDIA (NVDA) Earnings: Navigating the Blackwell Supercycle Amid Geopolitical Crosscurrents Asian stocks were mostly flat on Wednesday as investors awaited an earnings report from AI giant Nvidia, which could influence market sentiment in the short term. There were gains for Asian tech shares with China's AI leader Cambricon jumped 8.2% to a record high after posting its best-ever profit. Nikon shares surged 21% as Ray-Ban maker EssilorLuxottica considered boosting its investment. Overall, Asian tech stocks rose by up to 0.7%. In China, new data showed that industrial companies' profits dropped more slowly in July, suggesting efforts to cut overcapacity might be easing pressure from tough competition. Meanwhile, the U.S. imposed a steep 50% tariff on some Indian goods as punishment for buying Russian oil, disrupting years of efforts to build stronger ties with India. Indian markets are closed on Wednesday for a holiday. Looking at the Pacific Region, Australian consumer prices rose much more than expected in July, driven by a spike in electricity costs due to the timing of government rebates. Core inflation also increased, reducing hopes for a rate cut next month. The chances of the Reserve Bank of Australia cutting rates in September dropped to 22% from 30% after the data, though investors still expect a rate cut in November. For more on the Australian inflation picture, read Australian inflation surges, Aussie dips European Open - French Political Drama, European Stocks Rise as Market Participants ‘Buy the Dip’ European shares rose slightly on Wednesday, bouncing back from their biggest drop in almost a month, as investors took advantage of lower prices while staying cautious about political risks in France. The pan-European STOXX 600 index rose 0.4% by early Wednesday. France's CAC 40 also gained 0.4%, recovering from a three-week low caused by fears that Prime Minister Francois Bayrou's government might collapse next month. Mid-sized French stocks stayed mostly flat, while major banks BNP Paribas and Societe Generale extended small losses for a third day. Three opposition parties announced plans to challenge Bayrou's budget cuts on September 8. If the government falls, President Macron could appoint a new prime minister, keep Bayrou as a temporary leader, or call for early elections. Stock markets in Germany, Italy, and Spain rose slightly, gaining between 0.1% and 0.3%. Shares of Orsted and Novo Nordisk, which had been underperforming, rose 3.5% and 2%, respectively. Porsche climbed 3.8% after reports that the company is searching for a new CEO as Oliver Blume focuses on leading Volkswagen. Rio Tinto's London-listed shares rose nearly 1% after the company announced plans to simplify its operations into three units: Iron Ore, Aluminium & Lithium, and Copper. Meanwhile, a survey showed German consumer confidence is expected to drop for the third month in September, as worries about job security and inflation weigh on households. On the FX front, The euro fell 0.4% to $1.1593, and the British pound dropped 0.3% to $1.3441, losing some of the gains made after Trump announced plans to fire Fed Governor Lisa Cook over alleged issues with mortgage loans. The U.S. dollar gained 0.2% against both the Japanese yen and the Swiss franc, while the New Zealand dollar dropped 0.4% to $0.5834. Currency Power Balance Source: OANDA Labs Oil prices leveled off on Wednesday after dropping the day before. Investors are keeping an eye on updates about the Ukraine war and a report showing a decline in US crude inventories. US special envoy Steve Witkoff said he will meet with Ukrainian officials in New York this week and is also in talks with Russia to help end the conflict. Brent crude was down 4 cents at $67.18 per barrel, and WTI crude dropped 3 cents to $63.22. Both prices had fallen over 2% on Tuesday after starting the week at their highest levels since early August. Gold prices saw a pullback in the Asian session toward the $3375/oz handle before bulls returned. Safe haven demand remains in play as FED independence fears, uncertainty around the French government and Russia/Ukraine peace talks all add uncertainties to global markets. For more on Gold, read Gold (XAU/USD) Technical: Push up towards medium-term range resistance zone as Fed’s independence erodes Economic Data Releases and Final Thoughts Looking at the economic calendar, a quiet day ahead in terms of data. However, markets will be keeping an eye on developments in France for any changes which could have a significant impact on bond yields across Europe. According to a Bloomberg report released this morning, the European Union plans to fast-track a law to remove all tariffs on U.S. industrial goods by the end of the week. This move is in response to President Donald Trump's demand, as a condition for the U.S. to reduce tariffs on European car exports. Later in the day, focus and attention will be on Nvidia, the world's most valuable company, is set to provide updates later today on the AI market, following a sharp tech stock rally that slowed down in August. For all market-moving economic releases and events, see the MarketPulse Economic Calendar. Chart of the Day - FTSE 100 From a technical standpoint, the FTSE 100 seems to be forming a head and shoulder pattern on the four-hour chart after a lower high yesterday. The period-14 RSI is also flirting with the 50 neutral level with a break seen as a sign that momentum may be shifting. If the head and shoulder pattern completes its formation and we do get a breakout, there is a possibility of a 110 point decline toward the 9120 area which would line up perfectly with the 200-day MA. (yellow line). Interesting inflection point for the FTSE 100 after multiple fresh all-time highs in the last few weeks. This sets the stage for a potential deeper retracement. FTSE Daily Chart, August 27. 2025 Source: TradingView.com (click to enlarge) Follow Zain on Twitter/X for Additional Market News and Insights @zvawda Opinions are the authors'; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. The provided publication is for informational and educational purposes only. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please refer to the MarketPulse Terms of Use. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2025 OANDA Business Information & Services Inc.

A fresh readout of CryptoQuant’s “Whale Flow (30-day moving average)” for the XRP Ledger points to renewed distribution by large holders, according to on-chain analyst Maartunn. Sharing the chart, he summed up the signal on X: “XRP Whales are selling heavily. It’s clear distribution. On-chain data tells the story. In data, we trust.” XRP Whales Unload Millions The dataset decomposes large-holder activity into positive and negative whale flow and smooths it with a 30-day average to reduce noise. On the latest print, the histogram is dominated by deep, sustained negative bars, signaling net outflows from whale cohorts rather than accumulation. The timing aligns with price behavior: after XRP vaulted above $1 in late December 2024 and accelerated toward roughly $3.40 by mid-January 2025, the 30-DMA of whale flow flipped decisively negative. Through February–March 2025 the negative leg deepened, with the smoothed net flow bottoming around approximately −60 million to −70 million XRP, a trough among the most pronounced on the multi-year chart. That heavy distribution abated only briefly. From April through June 2025 the whale-flow 30-DMA turned positive for about three months, topping in the vicinity of +10 million to +20 million XRP. Importantly, that respite coincided with a cooler tape: price slid below $2.00 in April, then oscillated largely between ~$2.00 and a ~$2.60 ceiling into late June. As soon as XRP reclaimed roughly $2.60 in mid-July, the negative histogram returned, and by August the smoothed net flow had retreated again toward approximately −40 million to −50 million XRP. Price meanwhile ran back above $2.60 in mid-July and spiked to a new high at $3.66 by end of the month. While XRP consolidates near $3, the whale-flow 30-DMA remains firmly negative at roughly −40 million XRP. Two structural takeaways stand out from this sequence. First, the heaviest negative prints in early Q1 2025 clustered immediately after the late-2024/early-2025 breakout from ~$1.00 to above $3.00, consistent with large-balance profit-taking and supply returning to market as price momentum stretched. Second, the only sustained positive-flow window—April to June—overlapped a period when spot weakened below $2.00 and could not sustain moves beyond ~$2.60, suggesting whales were less inclined to distribute into a soft market and more inclined to add or at least reduce selling pressure during consolidation. The return to sizable negative flow once price pushed back through ~$2.60 in mid-July supports Maartunn’s characterization of renewed “distribution.” As ever, there are caveats. Whale-flow heuristics aggregate transfers from large addresses and cannot perfectly separate exchange internalization, custodian rebalancing, or OTC settlement from directional selling. And a 30-day smoothing window introduces lag: a sharp behavior change by whales will take time to surface. Even so, the breadth and persistence of the negative bars—near −70M/−80M XRP at their Q1 depths, sliding back toward −40M XRP in August—tilt the balance of evidence toward a market still digesting supply from big holders. For now, the on-chain picture is straightforward: large-balance entities remain net suppliers on a smoothed basis. If that regime persists, trend continuation likely demands either a fade in the negative flow back toward neutral/positive or enough external demand to absorb the overhang. As Maartunn put it, “It’s clear distribution… On-chain data tells the story.” At press time, XRP traded at $3.00.