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State Street has stepped into tokenized finance with a $100 million digital debt issuance using JPMorgan’s private blockchain. It’s not a headline-grabbing crypto stunt. It’s a serious step toward modernizing how traditional financial instruments move behind the scenes. First Third-Party Custodian on JPMorgan’s Platform What makes this different is that State Street is the first outside custodian to join JPMorgan’s Digital Debt Service. This isn’t a pilot with training wheels. It’s a working example of two established players teaming up to bring blockchain into the day-to-day reality of institutional finance. A $100 Million Transaction With Real Stakes Overseas-Chinese Banking Corporation issued a $100 million commercial paper transaction. State Street Investment Management bought the full deal. It wasn’t a test run or a demo. This was live capital, real securities, and full institutional accountability. DISCOVER: Best New Cryptocurrencies to Invest in 2025 Settlement on the Same Day JPMorgan’s infrastructure enables T+0 settlement, meaning transactions can be settled the same day they are executed. That kind of speed is rare in debt markets. Compared to the usual delays and coordination hurdles, this feels like skipping the traffic jam entirely. BitcoinPriceMarket CapBTC$2.24T24h7d30d1yAll time Automation Replaces Manual Back Office Work The new setup also trims the usual operational bloat. With smart contracts handling things like interest payouts and redemptions, there’s far less room for human error or delays. And because everything is still recorded and auditable, no trust is sacrificed in the process. A Strategic Move by State Street State Street is treating this as more than just a tech upgrade. It fits into a larger push to unify front, middle, and back office functions under a single digital strategy. Donna Milrod, the firm’s Chief Product Officer, called it a key part of their long-term plan to modernize core infrastructure without losing touch with what already works. DISCOVER: 20+ Next Crypto to Explode in 2025 Kinexys Provides the Infrastructure On the JPMorgan side, everything runs on its Kinexys platform. This is their in-house engine built for issuing and settling tokenized financial assets. With State Street now fully onboard, Kinexys has gone from an internal tool to something other institutions can actively plug into. From Experiment to Everyday Use This collaboration signals that tokenization is ready to move beyond theory. The deal checks all the boxes on scale, compliance, and risk controls. It’s not being treated as some fringe experiment, but rather as a better version of a system that already exists. No Drastic Changes for Clients What’s most interesting is how invisible the changes are for institutional clients. They still operate through familiar channels. The wallets, the automation, the faster settlement—all of that happens under the hood. For end users, the experience stays consistent and professional. A Subtle Shift With Big Implications It may not have made headlines outside the finance world, but this kind of transaction hints at what’s coming. Tokenized debt is no longer a future goal. It’s already happening quietly, with major players using blockchain to do things faster, cleaner, and with less friction. The old systems are still around, but they’re no longer the only option. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways State Street completed a $100 million digital debt transaction using JPMorgan’s blockchain, signaling tokenized finance is entering real use. It became the first third-party custodian to join JPMorgan’s Digital Debt Service, showing institutional confidence in blockchain infrastructure. The transaction achieved T+0 settlement, a major improvement over traditional debt market timelines that often involve multi-day delays. Smart contracts handled interest payouts and redemptions, reducing the need for manual back-office processes and lowering operational risk. The integration was seamless for clients, proving blockchain upgrades can happen without disrupting front-end experience or existing workflows. The post State Street Takes the Blockchain Leap in Debt Markets appeared first on 99Bitcoins.

The chief executive officer of SOL Strategies has a strong belief in the potential of Bitcoin, despite recent setbacks by the top crypto asset. Leah Wald told members of the press she expects bitcoin to make a steep move before year end. Her baseline? The vaunted $175,000 mark – a price she called a conservative read compared to some loftier forecasts. The market has already surprised a lot of people — bitcoin hit about $124,000 recently — so big swings are not impossible. Institutional Interest Drives Momentum According to Wald, part of the push comes from big money moving in. She pointed to companies like BlackRock and high-profile investors such as Cathie Wood, and she referenced how comments from leaders like Larry Fink have shifted conversations. Those voices bring models and balance-sheet plans that, she said during a CNBC TV18 interview, support much higher price targets than people used to expect. The industry’s own scars are still visible. After the FTX collapse many firms were de-banked and trust took a hit. But Wald argues that the picture has changed: banks and asset managers are opening doors again, and that makes it easier for large managers to put serious capital into crypto. That doesn’t erase risk though, but it does change how big investors approach the market. Long-Term Bets Stay Very Ambitious Based on reports, some forecasts stretch far beyond this year. Wald mentioned projections showing bitcoin at $1 million by 2030, a level that would dwarf current prices. Those long-range calls are driven by assumptions about adoption, limited supply and the role bitcoin could play in institutional portfolios. Whether reality matches those models is another question. Shorter-term math matters too. If bitcoin were to reach $175,000 before year end, that would be a rapid climb from recent levels around $124,000. Traders and managers watching volatility know such moves can happen, but they also know the path is rarely straight. Expectations, flows, and news — all of it moves markets fast. From Speculation To Infrastructure Wald says crypto is no longer just about quick gains. She sees a bigger change: mainstream finance is being rebuilt on blockchain tools, she said, and that shift is moving the conversation away from short-term trading toward how the system is built and run. Nation-states thinking about adoption and big asset managers planning custody services are part of that picture, she added, and those pieces matter for how prices form. Featured image from Meta, chart from TradingView

On-chain analytics firm Santiment has revealed how the two largest spikes in trading volume coincided with recent buying and selling windows for Bitcoin. Trading Volume May Signal Tops & Bottoms For Bitcoin In a new post on X, Santiment has talked about a pattern associated with the trading volume of Bitcoin. The “trading volume” here refers to a metric that keeps track of the total amount of the cryptocurrency that’s becoming involved in trading activities on the various centralized exchanges. When the value of this metric is high, it means the traders are making a large number of moves on the market. Such a trend suggests interest in the asset is high. On the other hand, the indicator having a low value implies investors may not be paying much attention to the cryptocurrency as they are participating in a low amount of activity. Now, here is a chart that shows the trend in the trading volume for Bitcoin and other top coins in the sector over the last few months: In the above graph, Santiment has highlighted two large spikes in the trading volume of Bitcoin. The first of these, involving a movement of $84.08 billion in the asset, occurred at the start of April. Interestingly, this spike coincided with BTC’s tariff-driven dip. The other spike took place just earlier this month and saw the indicator hit a high of $90.90 billion. This time, the elevated trading volume came alongside BTC’s new all-time high (ATH) above the $124,000 level. “Note that the two largest volume spikes from Bitcoin signaled the optimal time to buy (as prices were falling) and sell (as prices peaked to a new ATH),” explains the analytics firm. What could be the explanation behind the pattern? Generally, the higher the trading activity, the more likely BTC is to observe some kind of volatility. This is because the moves being made by investors act as fuel for price moves. Where the emerging volatility may lead the asset is hard to say based on the trading volume data alone, as it doesn’t separate between buying and selling moves. Spikes that come near price lows, however, can be signs of buying. This is what happened in April. Similarly, a particularly sharp uptick in activity after rallies, like the one seen earlier in the month, can be a sign of profit-taking. At present, Bitcoin trading volume remains elevated, but its current value of $66 billion is clearly still a step below the levels seen during the aforementioned turnarounds. BTC Price Bitcoin has been facing sustained bearish momentum recently as its price has gradually been sliding down, with its latest value coming at $113,000.

Ethereum is stabilizing above the $4,200 level after days of sharp volatility and heavy selling pressure. The recent downturn saw ETH retreat from local highs near $4,800, leaving bulls with the urgent task of defending critical demand zones. Now, early signs suggest that momentum may be shifting back in favor of buyers, with selling pressure beginning to fade across the market. This stabilization comes as altcoins prepare for what could be a decisive period in the coming months. Market sentiment is cautiously turning optimistic, supported by improving technical signals and renewed accumulation patterns. Analysts point out that if Ethereum can hold current support levels, the groundwork could be laid for another push toward retesting the $4,800 zone and, eventually, new all-time highs. Adding to the bullish narrative, Arkham Intelligence revealed that a whale or institutional player just longed about $300 million worth of ETH on-chain. This massive leveraged bet underscores confidence in Ethereum’s medium-term outlook, even amid recent volatility. Such moves from large-scale investors often signal strong conviction and can act as a catalyst for renewed market strength. Ethereum Whale Bet Sparks Speculation According to Arkham Intelligence, a whale identified as address 0x2eA has just made one of the boldest bets in Ethereum’s recent history. The address longed a total of $282 million worth of ETH across three separate accounts on Hyperliquid, with liquidation prices set tightly at $3,699, $3,700, and $3,732. This aggressive positioning suggests strong conviction that Ethereum’s recent correction may have already bottomed. Arkham itself posed the question: Did he just catch the bottom? The coming days are expected to be highly volatile, as futures markets heat up and traders prepare for sharp moves. With ETH consolidating around the $4,200 support level, the whale’s position could either trigger massive profits if the market rallies or result in a swift wipeout should bearish pressure intensify. Such concentrated bets often act as catalysts, fueling speculation and liquidity in derivatives markets. At the same time, institutional adoption continues to reinforce Ethereum’s long-term outlook. Companies like Sharplink Gaming and Bitmine have already taken steps toward treasury strategies that include ETH allocations, joining the growing list of firms treating Ethereum as a strategic reserve asset. This accumulation trend, combined with aggressive whale bets, underscores the broader demand dynamics supporting ETH. If bullish momentum builds, Ethereum could soon attempt a retest of its all-time high near $4,800, potentially pushing into uncharted price discovery. For now, the whale’s move stands as a bold signal of confidence, setting the stage for Ethereum’s next major market phase. Weekly Price Chart Analysis: Healthy Consolidation Ethereum’s weekly chart shows a sharp surge followed by a pullback as price action tests support levels near $4,200. After reaching highs close to $4,800, ETH faced heavy selling pressure, but the broader trend remains bullish. The chart highlights strong momentum since June, with Ethereum breaking through key resistance zones and reclaiming levels not seen since early 2022. Currently, ETH is consolidating above the 50-week and 100-week moving averages, which are sloping upward, reinforcing the broader bullish structure. The 200-week moving average sits far below, at $2,443, showing how extended the move has been. Ethereum continues to hold above the breakout zone, suggesting that bulls remain in control. This pullback may serve as a cooling-off period after weeks of aggressive buying. If Ethereum manages to stabilize above $4,200, it could attempt another move toward the $4,800–$5,000 resistance zone. A break above that region would open the door to new all-time highs and potential price discovery. On the downside, losing $4,000 would raise the risk of a deeper correction toward $3,600. Featured image from Dall-E, chart from TradingView

The Dogecoin question of the summer—whether the crash is finally over—met a hard-edged reality check in crypto analyst VisionPulsed’s August 20 video analysis. Stripping away “bullish propaganda,” he argued that Dogecoin will not meaningfully trend until two outside markers flip decisively risk-on: Ethereum crossing its all-time high and the Russell 2000 clearing its own peak. “We’re bearish until the Russell breaks the high and we’re bearish until ETH breaks the high,” he said, adding that the absence of those breakouts explains why familiar cycle cues have failed to ignite altcoins this time. Is The Dogecoin Crash Over? VisionPulsed opened with deliberate satire—“daily dose of bearish because it’s always bearish forever and ever”—but moved quickly to the data. He noted Dogecoin has printed higher lows and higher highs since October 2023, yet the tape has been locked in drift for months: “The price of Dogecoin has not done anything for almost 7 months now… we’re at 175 days of sideways.” He framed that range as potential accumulation by analogy to prior long compressions, observing that earlier multi-month stalls preceded sharp expansions: “In the big picture, one would consider that to be bullish… This one was massive, like 400 days of sideways… we might even be [in] accumulation, if you will.” The analyst’s core contention is that historical triggers that once synchronized altseason have broken down in this cycle. He revisited two now-faded playbooks: post-halving timed runs and the “BTC makes ATH → DOGE follows” sequence. “If we look at the halving… Dogecoin [historically] went to the moon about 240–260 days post-halving,” he said. “Right now… we’re almost at 500 days post-halving and there’s still no shot on the moon.” Likewise, Bitcoin tagging fresh highs has not transmitted to DOGE: “Bitcoin breaks the high, Doge makes a new all-time high… Bitcoin breaks the high, nothing happens. We’re still bearish.” In his view, that leaves only two unfulfilled, cycle-consistent conditions—Ethereum and the Russell 2000 at record levels—before declaring an altseason regime change. Market leadership and “dominance” dynamics are part of his diagnosis. On his charts, previous attempts by the Russell 2000 to push through the top coincided with a decline in dominance, a pattern he says could help unlock altcoin breadth. But he cautioned that a failed breakout would likely reset the clock: “Everybody thinks this is altseason, but the dominance is going to go back up because the Russell is going to go down? It’s very possible.” Until the equity small-cap gauge and ETH both clear resistance, he prefers “optimistic” to “excited.” Even as he dismantled over-promotional narratives—“the data doesn’t actually support [‘biggest altseason of all time’]”—VisionPulsed did outline the only scenario he’s willing to call “hopeium.” He mapped the Russell 2000 “getting close to the all-time high” alongside ETH “also getting close to the high,” pairing that backdrop with DOGE’s compression as the same setup that preceded prior impulsive legs: “Once the Russell gets over the high and once Ethereum gets over the high, I’m going to start getting very excited. But until then, we’re not there.” That sobriety extends beyond price. He pointed to dwindling engagement as a sentiment tell: “It’s very possible that at any moment the videos will start getting below 2,000 views… There’s nobody here. Google Trends back that up.” In his reading, the absence of retail heat is consistent with an unresolved cycle transition rather than a coiled spring already in motion. The conclusion landed where it began: Dogecoin’s crash narrative cannot be retired on crypto-native signals alone. Without concurrent breakouts in ETH and the Russell 2000, he argues, DOGE remains range-bound and the altcoin complex underpowered relative to past cycles. At press time, DOGE traded at $0.21757.

Log in to today's North American session Market wrap for August 21 Since last week, Markets have been dawdling around in the search for further headlines concerning any of these three subjects: A resumption of Federal Reserve cuts, any concrete news relative to peace in Eastern Europe and any news concerning the US state of employment. Indeed, the Federal Reserve's pause and Trump's tariffs are not generating any kind of volatility anymore, so the desperate research for more news is leaving volatility in a limbo. Participants, in the typical summer-break trading, have been trading in lower volumes these past few weeks awaiting for Powell to say anything concrete at his Jackson Hole Speech tomorrow at 10:00 A.M. The Symposium tends to create a lot of volatility as many Central Bankers use the mid-summer event to announce their plans for upcoming rate decisions. Rangebound and low-volatility Currency and commodity markets have dominated the charts except for the one outstander (like the New Zealand Dollar yesterday for example). Read More: EURUSD slides with focus shifting to the Jackson Hole Symposium Cross-Assets Daily Performance Cross-Asset Daily Performance, August 21, 2025 – Source: TradingView Cryptos really seem to have attained some type of intermediate top since the past week – They have been struggling. However, as mentioned in some of our previous cryptocurrency analysis, as long as Bitcoin holds above $110,000, the longer-run outlook is still not too bleak. Oil is the one winner of today's session (you can access our latest analysis of the commodity right here). Apart from that, it seems that Metals have also attained some form of intermediate peak – let's see how this develops. A picture of today's performance for major currencies Currency Performance, August 21 – Source: OANDA Labs Forex movement has been relatively subdued again this session. However, the USD is the winner of the session, at the cost of the Japanese Yen. A look at Economic data releasing in tonight and tomorrow's sessions For all market-moving economic releases and events, see the MarketPulse Economic Calendar. JPY Traders will have to stay ready for the upcoming Japanese National inflation data. You can access our preview of the data right here. For the rest, except for the German GDP (2:00 A.M. ET) and the Canadian Retail Sales (8:30 A.M. ET), all eyes will be on Jerome Powell's speech tomorrow at 10:00 A.M. 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.

Bitcoin is navigating a critical juncture after reaching a new all-time high of $124,500 last week before quickly retreating. The price is now searching for support, with volatility intensifying and traders debating whether this is the start of a deeper correction or simply a healthy consolidation phase before continuation. Some analysts remain optimistic, seeing this pullback as a natural reset in an overheated market, while others argue that momentum is fading as bearish signals emerge. Adding weight to the discussion, CryptoQuant analyst Axel Adler highlighted a key trend in retail participation. The share of retail transfers in the $0–$10K range within Bitcoin’s total USD turnover has been steadily declining throughout this cycle. From a peak of 2.7%, the share has now dropped to just 0.6%. Historically, such declines in retail participation have coincided with the later stages of bull cycles. This dynamic raises questions about whether the current phase marks a cooling of retail enthusiasm at a critical time for Bitcoin, as institutional and long-term holders dominate market structure. Bitcoin Retail Activity Declines as Market Cools According to CryptoQuant analyst Axel Adler, while the share of retail activity in Bitcoin’s network has dropped sharply, in absolute terms it still remains significant. Retail transfers in the $0–$10K range amount to over $400 million per day, but this represents only 0.6% of total USD turnover across the network. This shrinking share highlights a clear trend: while small investors are still active, their relative impact on overall market flows is diminishing. Adler notes that this cooling of retail demand was also observed in autumn 2021, at the peak of the previous cycle. At that time, the retail share fell to a historic low of just 0.19%, coinciding with overheated market conditions and marking the final stages of that bull cycle. The current decline in retail participation mirrors that pattern, suggesting that the market could be approaching a similar late-cycle environment. This dynamic is important because retail investors have traditionally been a strong driver of momentum during bull markets. With their reduced influence, institutional flows, long-term holders, and treasury strategies now play an even greater role in shaping market direction. The coming weeks will be critical as altcoins, led by Ethereum, show renewed strength. ETH is approaching its 2021 all-time high, and many analysts believe that its performance could dictate the broader crypto market’s next move. If retail demand continues to fade while institutional accumulation grows, Bitcoin may consolidate further, while capital rotation toward altcoins gains momentum. Bulls Defend Key Demand Level The 8-hour chart shows Bitcoin (BTC) under pressure as it trades near $113,400, struggling to hold above its 200-day moving average (red line), currently aligned around $113,416. This level has become a critical support zone after BTC failed to sustain momentum above the $123,217 resistance, which has acted as a clear rejection point multiple times this cycle. Shorter-term moving averages highlight the bearish momentum. The 50-day SMA (blue) at $117,017 and the 100-day SMA (green) at $117,087 are both trending above the current price, creating overhead resistance. The breakdown below these averages confirms a weakening trend, with BTC struggling to regain lost ground. Price action also shows a sequence of lower highs and lower lows since the rejection at the $124K zone, reinforcing bearish short-term sentiment. For bulls, reclaiming the 100-day SMA near $117K would be key to reversing momentum and reattempting a push toward the $120K–$123K range. Failure to hold the 200-day SMA risks accelerating downside, potentially opening the path toward $110K, a major psychological level. Featured image from Dall-E, chart from TradingView

Brazil Potash (NYSE: GRO) announced Thursday a commercial offtake agreement between its subsidiary Potássio do Brasil Ltda. and Keytrade Fertilizantes Brasil, subsidiary of Keytrade AG, one of the world’s leading fertilizer trading companies. The binding agreement establishes a 10-year take-or-pay commitment for Keytrade to purchase up to ~900,000 tons of potash annually from Brazil Potash’s Autazes project, 30% to 37% of Brazil Potash’s annual potash production. Last month, Brazil Potash signed an MOU with private equity firm Fictor Group outlining the terms of a $200 million infrastructure funding for Autazes. After facing headwinds due to some opposition by Indigenous groups, the state of Amazonas granted Brazil Potash last year the license to build the Autazes project, pegged to be the largest fertilizer mine in Latin America within the Amazon rainforest. “This Agreement with Keytrade is a major milestone in Brazil Potash’s commercial development,” Brazil Potash CEO Matt Simpson said in a news release. “Combined with our existing take-or-pay agreement with Amaggi Exportacão E Importacão Ltda., we now have binding commitments for ~1.45 million tons of our planned ~2.4 million tons of annual production,” Simpson said. “These long-term contracts provide the revenue certainty essential for securing project financing and advancing construction.” “This collaboration with Brazil Potash is a strategic step toward reducing Brazil’s reliance on imports and fostering economic growth in the Amazon region,” Keytrade Fertilizantes Brasil CEO Anthony Jezzi added. With the Keytrade Agreement finalized, Brazil Potash said it has secured binding offtake agreements covering ~60% of planned production and is also in advanced discussions with a prospective partner that would increase total volumes to ~91% of annual capacity.

Bitcoin has cemented itself as a trillion-dollar asset class, and institutional adoption is gathering momentum, and pressure on the world’s largest companies is mounting. What started as a fringe bet is rapidly turning into a strategic necessity. In a recent Swan Bitcoin presentation, Adam Livingston laid out a simple yet powerful case for why passive index mechanics will eventually force S&P 500 companies to incorporate BTC exposure the moment MicroStrategy qualifies for inclusion. What An S&P 500 Bitcoin Allocation Could Look Like According to the update on X, Livingston explains that once Strategy qualifies for inclusion in the S&P 500, the index’s rules will take effect. This is not about taste or ideology. Rather, it’s about floats, weights, and formulas. Related Reading: Institutional Bitcoin Holdings Near 20% Of Supply—Wall Street’s New Playground? When the index updates, trillions of dollars in benchmark trackers will follow. This means that BTC exposure will be piped directly into every 401(k), pension fund, and institutional portfolio that mirrors the S&P 500. The inclusion checklist is that Strategy now meets the exact criteria required for S&P 500 entry. These include passive funds like SPY and VOO that collectively move trillions and are compelled to buy new entrants, without questioning why a small initial index weight can trigger billions in inflows. Spot Bitcoin ETFs amplify the same flows with the daily rebalancing. Also, a reflexive loop is formed when BTC rises, Strategy’s weight rises, and more passive capital resumes buying. Real-world proof from prior inclusions shows how fast the index effect drives flows, and miners, exchanges, and treasury-heavy firms multiply BTC. Furthermore, he emphasizes that this is inevitable and not an opinion. Once the Strategy clears the inclusion hurdle, passive capital must flow. Presently, the index system has no ideological filter, and it simply executes rules. For finance professionals, CIOs, advisors, and analysts who live and die by benchmark risk, it’s the plumbing that matters. For Bitcoiners, it’s a clean, shareable explanation for skeptics who dismiss adoption as narrative hype. Once the index rules are triggered, the passive system cannot ignore BTC. By default, BTC exposure will be distributed across global portfolios. Parataxis Holdings Joins The BTC Treasury Trend In a strategic move, Parataxis Holdings has just joined the growing list of major institutions allocating corporate treasury funds to Bitcoin. Parataxis Holdings announced plans to purchase up to $640 million worth of BTC. According to market analyst Cryptoclub520, this signals an increase in institutional confidence in the digital asset as both a store of value and a hedge against market uncertainty. Additionally, the firm plans to deploy the funds gradually and adjust purchases based on market conditions to reduce volatility. However, Cryptoclub520 notes that BTC is becoming a serious reserve asset for investors. Institutional adoption continues to heat up, as more asset managers and corporate treasuries embrace BTC, marking a bullish signal for long-term holders.

The US Dollar has staged a decent comeback from the 98.00 handle after enduring a particularly brutal start to August. This is hurting EUR/USD in today's session. You can access our most recent US Dollar analysis right here. One of the key catalysts behind the drop in the pair was the Manufacturing PMI data beating market expectations (53.3 vs 49.5% exp). Markets are now holding their breath, awaiting comments from Jerome Powell tomorrow morning 10:00 at the Jackson Hole Symposium. The Fed Chair's speech is expected to be a market-moving event, with participants still awaiting for clues about future policy direction. EURUSD had enjoyed a spectacular relief rally following the August 1st NFP data, almost catching up to the pre-July 1.1830 highs. However, this Euro strength now faces a test as Dollar sentiment begins to stabilize, this comes after the most recent advances in US led talks that seem to create progress in the Ukraine-Russia War. ECB President Christine Lagarde is also expected to deliver remarks this weekend at the Jackson Hole Symposium, but the timeline is still not known. The calendar for the conference will be be released tonight at 8:00 P.M. ET. on the Kansas City Fed Website right here: https://www.kansascityfed.org/ Read More: ISM manufacturing PMIs lift US stocks from another bearish open – intraday levels for Dow Jones, S&P 500 and NasdaqEURUSD Technical AnalysisEURUSD Daily Chart EURUSD Daily Chart, August 21, 2025 – Source: TradingView The Euro is still evolving in a downward sequence since August 13th 1.1730 spike highs. The correction has been relatively moderated, with prices now entering the 1.16 to 1.1650 Pivot Zone, just below the 50-Day MA. The RSI is starting to tilt downwards from neutral levels, indicating further potential downside from here – A break below the 1.16 psychological level would be require for bears to take the hand. However, a failure to do so should point to further rangebound action ahead. In the waiting for more information, let's have a closer look. EURUSD 4H Chart EURUSD 4H Chart, August 21, 2025 – Source: TradingView The 4H timeframe allows us to spot the current low-slope downward channel that saw a strong break at the last trading week of July, before getting regained by the another sharp up-move on August 1st. Volatility has since retracted strongly, with the ongoing move-down reaching the mid-point of the channel. A break below 1.16 (current trading) as mentioned on the Daily timeframe analysis would be supplemented by potential selling acceleration at the lower bound of the channel. Buyers would need to step in around the current level to maintain the more balanced price action and avoid further bearish tilt. EUR/USD Levels to keep on your charts: Resistance Levels 1.1730 August 13th highs2020 Resistance around the 1.18 Zone1.1830 2025 topSupport Levels Current Pivot Zone 1.16 to 1.16501.1450 to 1.15 Psychological Level1.1350 to 1.14 Support 2EURUSD 1H Chart EURUSD 1H Chart, August 21, 2025 – Source: TradingView Looking further to the 1H timeframe, we see further action within the 1.16 to 1.1650 pivot zone (with higher and lower bounds of the zone highlighted). Sellers are reaching the lower bound of a smaller timeframe descending channel. Buyers stepping here would be more necessary to avoid a further break as mentioned before – A failure to do so would accentuate the potential bearish acceleration in the most traded currency pair. 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.

A public-private initiative to establish America’s first Strategic Mineral Reserve (SMR) will be spearheaded by critical minerals pioneer M2i Global (US-OTC: MTWO) and aviation solutions provider Volato Group (NYSE-A: SOAR). On Thursday, the companies announced the launch of this initiative, with a view of securing the nation’s supply of metals essential to defense, clean energy and industrial leadership. Specifically, it will focus on storing, refining and distributing critical minerals such as gallium, graphite and copper, which are vital for the manufacturing of defense systems, semiconductors, batteries and electric vehicles. The facility for the SMR will be headquartered at the Hawthorne Army Depot (HWAD) in Mineral County, Nevada. Established in 1930, the HWAD represents the “world’s largest depot” for ammunition storage, with an approximately storage space of 56,000 m2. The SMR project is supported by the Department of Defense, Defense Logistics Agency and Department of Energy. The initiative combines secure storage, refining capabilities, ethical sourcing, AI forecasting and workforce development through local partnerships, said M2i Global, which provides engineering, research and other services related to the US critical minerals sector. The announcement follows a report from the Hoover Institution, which called for a US-led multilateral critical minerals stockpile and collaborative planning efforts with various federal and state agencies, including the Nevada Governor’s Office of Economic Development (GOED). “Nevada’s abundance in critical minerals presents an opportunity to drive innovation and economic opportunities across our state and beyond, which is why international manipulation of the markets for lithium and other critical minerals presents a real threat,” GOED executive director Tom Burns stated in a press release “Securing this supply chain is vital to our national security, and Nevada has the resources to produce and stockpile these critical minerals,” Burns added. “This is not a stockpile, it’s a strategic capability,” said Major General (Ret.) Alberto Rosende, CEO of M2i Global. “We’re honored to work with Tom Burns and his team at GOED to ensure Nevada plays a defining role in securing our economic and national future. This is the right state, the right team, and the right time.”

The XRP Ledger (XRPL) has witnessed a dramatic surge in on-chain transactions, with payment volumes between accounts surging by 500%. This sharp increase highlights a significant rise in transactions and address activity on the blockchain, marking one of the highest spikes recorded this year. XRP Sees Record-Breaking On-Chain Activity Data from XRPScans confirms that on August 18, 2025, the XRP Ledger recorded a massive rise in network activity, processing 844,516,631 tokens in payments between accounts. This figure dwarfs the average daily flows seen throughout this month. The surge also marks an increase of more than 500% compared to the previous day, when payment volume totaled only 159,685,255. Typically, such spikes in on-chain activity often indicate growing adoption, whether through institutional participation, retail engagement, or whale repositioning. Historically, sudden bursts of transactional volume have preceded major price movements, as they tend to reflect rising demand. XRPScan’s payments chart also highlights the cryptocurrency’s shifting volume trends throughout the year. For much of 2025, XRP payments largely fluctuated at a lower baseline, with occasional bursts of activity. While August stands out, July saw an even more heightened activity, with 1.41 billion payments logged on the 21st. Despite the sharp rise in on-chain activity, the XRP price has yet to reflect the surge, trading without any significant upside reaction. However, sustained growth in payment volume could strengthen the cryptocurrency’s underlying fundamentals, potentially setting the stage for a new wave of market interest. Whale Sell-Offs Weigh On Price Over the past week, the XRP price has dropped roughly 10% to around $2.89 despite the recent spike in payment volume. According to a post on X social media by crypto exchange XChangeOn, this decline has been partially attributed to heavy whale selling and ongoing market volatility. In just ten days, a staggering 470 million XRP were offloaded, with several of these transfers exceeding 100 million tokens each. XChangeOn noted in its post that much of this supply had found its way to Binance, adding significant selling pressure to the already fragile market. Interestingly, these moves came after whales had accumulated over $360 million worth of XRP during earlier price dips, suggesting that large players may now be realizing profits or repositioning ahead of broader market shifts. XChangeOn indicated that the growing selling pressure has placed XRP at risk of testing support levels between $2.70 and $2.50. From the current price of $2.89, this represents a potential decline of approximately 6.6% and 13.5%, respectively. If downward pressure continues, the cryptocurrency is expected to experience further weakness in the short term. However, XChangeOn notes that reduced inflows to exchanges and renewed whale accumulation could act as stabilizing forces.

Coinbase CEO Brian Armstrong put a bold price on Bitcoin this week, saying the token could hit $1 million by 2030. He posted the prediction on X and pointed to rising institutional interest and clearer rules in the US as reasons for the call. Short-term moves will still be messy, he warned, but the long-term case is getting stronger. Armstrong Joins High-Profile Bull Calls According to Armstrong, the shift in tone from regulators matters. He flagged pending stablecoin legislation and a market structure bill in the Senate as possible catalyst events, saying “something could happen by the end of this year.” Reports have disclosed that the US government now holds a strategic Bitcoin reserve, a step Armstrong once found unlikely. Institutional Flows Are Small, But Growing According to Armstrong, many large funds currently hold about 1% of their portfolios in Bitcoin. That’s small. It’s also a base to build from if rules become clearer. Exchange-traded funds have already pulled significant institutional money into the market, and sovereign interest is slowly rising. Armstrong argues that clearer rules will speed the process and unlock more capital. Big Names Back Big Numbers Meanwhile, several well-known figures have been making their own forecasts about the world’s most popular crypto asset. Author Robert Kiyosaki has argued that rising inflation and the growing US debt load could be key drivers pushing Bitcoin toward higher levels. Michael Saylor, who leads Strategy, points to Wall Street’s balance sheets, saying a 10% allocation of reserves to Bitcoin could be enough to trigger the million-dollar mark. Cathie Wood of ARK Invest has set an even loftier target, suggesting Bitcoin could climb to $1.5 million in her firm’s bull scenario. Together, these forecasts align with Armstrong’s call, though each stems from a different line of reasoning. Regulation And Risk Still Matter Bitcoin has a history of sharp rallies followed by big pullbacks. That pattern hasn’t disappeared. While proponents point to limited supply and growing institutional exposure as reasons to expect higher prices, critics warn that macro shocks, tighter regulation, or a serious technical flaw could reverse gains quickly. Featured image from Meta, chart from TradingView

Cardano’s momentum is heating up as whale wallets make bold moves. A recent update from Crypto Update IO reveals that whales have snapped up 100 million ADA in a single day, lifting their holdings to 18.65 billion ADA. Such aggressive accumulation may be hinting at a major turning point for the market. Price Action And Technical Indicators In his analysis, Crypto Update IO pointed out that Cardano’s price has been fluctuating between $0.86 and $0.88 over the past day. Strategic accumulation during this dip suggests that larger investors are positioning themselves for potential future gains, providing a cushion against broader market corrections. Historically, such whale activity has often signaled renewed interest in Cardano. At present, ADA is trading at $0.88, reflecting a 3% rise within the last 24 hours. This short-term uptick comes despite a 10% decline over the past week, showing that the asset is attempting to stabilize after recent downward pressure. According to Crypto Update IO, Javon Marks highlighted that Cardano’s current market structure appears to be mirroring previous cycles. These patterns could set the stage for an extraordinary surge, with ADA potentially rallying as much as 740% toward the $8 mark if history repeats itself. Such a setup suggests that Cardano may be entering a crucial accumulation phase before significant rallies. Cardano Derivatives Market And Institutional Interest Crypto Update IO went on to explain that Cardano’s derivatives market is showing a blend of caution and growing optimism. Despite a 4% drop in open interest and an 18% decline in trading volume, certain underlying metrics are starting to turn more favorable. The encouraging signal comes from the funding rate, which has flipped positive at 0.0072%. A positive funding rate typically indicates that traders are paying a premium to hold long positions over shorts. This dynamic reflects an increasing appetite for bullish exposure, pointing to renewed confidence in Cardano’s near-term trajectory, as sentiment leans toward a price recovery. With long positions beginning to outweigh shorts, the market is signaling that traders are preparing for potential rallies, positioning themselves early before a larger move materializes. This behavior often precedes significant breakouts in the crypto market. Adding to the narrative, Crypto Update IO highlighted that on August 14, ADA futures volume surged to an impressive $7 billion. A spike in futures volume underscores the growing attention Cardano continues to attract from both retail traders and institutions. Combined, these developments suggest that ADA remains firmly on the radar, with derivatives markets quietly building a foundation for what could become its next major rally.

Seequent has expanded the capabilities of its 3D geological modelling solution, Leapfrog, introducing streaming of high-resolution core imagery directly into the modelling interface from its cloud-based, advanced image analysis product, Imago. “It also leverages recent advancements we’ve made in Imago, including machine learning capabilities that add value to core imagery,” says product manager geology Ryan Lee. “These valuable insights now appear in Leapfrog, adding spatial context to core imagery in a way that was previously not possible.” Imago enables users to easily access, collaborate on, and validate geoscientific images, adding value through functionality such as its machine learning-enabled AutoCrop, which provides a linearized downhole reconstruction of core images to show core as it was in-situ. With this geoscientific imagery directly accessible in Leapfrog 2025.2, users can seamlessly view images within the context of their geological model and examine core photos closely without needing to switch applications, supporting faster, more informed modelling decisions. Extracting more value from core imagery Leapfrog 2025.2 enables the extraction of significantly more value from logging data. The ease of access to core imagery from Imago speeds up the modelling process and, when coupled with Imago’s advanced image analysis powered by machine learning, delivers maximum insights by transforming image data into knowledge.

Lithium prices surged this week on concerns about supply disruptions in China, but analysts are warning the rally will be short-lived. A halt in production at Chinese lepidolite mines, which supply lithium-bearing mica for battery chemicals, is expected to be temporary, according to BMO Capital Markets, which cited a webinar by analysts at Shanghai Metals Market (SMM). A modest domestic deficit in August will flip to oversupply in September as mines resume output, SMM forecast. The price of battery-grade lithium carbonate has jumped since the shutdowns, with contracts in China trading above 80,000 yuan ($11,150) per tonne versus less than 60,000 yuan per tonne in June. Prices are expected to stabilize in the mid-70,000 yuan per tonne range in September and October before retreating to about 70,000 yuan by year-end, according to SMM. The price on Thursday is $11,525 per tonne, according to The Wall St. Journal. “The most likely scenario being a short-term production halt followed by orderly resumption of supply once all approval procedures are finished,” BMO commodities analysts Helen Amos and George Heppel said in a note on Thursday. “There is more than enough stock for chemical producers to maintain output using lepidolite ore inventory.” Long-term demand Western lithium producers are contending with low prices and an oversupplied market while continuing to invest in new projects and refining capacity to meet long-term demand. Rio Tinto (LSE, NYSE, ASX: RIO) expanded its global footprint with its $6.7 billion acquisition of Arcadium Lithium (NYSE: ALTM), while Lithium Americas (TSX, NYSE: LAC) advances its Thacker Pass mine in Nevada with support from General Motors (NYSE: GM) and US government funding. In Australia, Tianqi Lithium and IGO (ASX: IGO) are working to ramp up output at their underperforming Kwinana refinery, and in Europe, Vulcan Energy Resources (ASX: VUL) is pursuing net-zero-carbon lithium from geothermal brines as automakers seek more sustainable supply options. The price spike was triggered by Contemporary Amperex Technology suspending production at a mine in central China’s Jiangxi province after a permit expired, sparking a surge in futures trading and lifting shares of lithium producers including Albemarle (NYSE: ALB), SQM (NYSE: SQM) and Sigma Lithium (Nasdaq: SGML). As well, Zangge Mining halted brine production at Qarhan Lake and Jiangxi Special Electric Motor’s Yichun lepidolite mine began a 26-day maintenance period on July 25. While the shutdown affects an estimated 4% of global supply, analysts at UBS and Macquarie said this month high stockpiles and steady production from other sources mean the impact on fundamentals is limited. The size of the outage is roughly in line with the current global surplus, making sustained price gains unlikely, The Financial Times reported.

A resource update for Yukon-focused White Gold’s (TSXV: WGO) namesake project positions it among the larger undeveloped open-pit gold resources in the territory. The update raises indicated ounces by 44% to 35.1 million tonnes grading 1.53 grams gold per tonne for 1.73 million oz. over the previous update from last year, the company reported Thursday. Inferred resources grew by 13% to 32.3 million tonnes at 1.22 grams gold for 1.26 million ounces. The project is about 95 km south of Dawson City. “The significant increase in gold resources at our flagship White Gold Project is another major milestone for the company,” White Gold CEO David D’Onofrio said in a release. “The updated resource also further highlights the strong growth potential of our near surface deposits which remain open in multiple directions with numerous prospective targets in close proximity that also warrant drill testing based on their exploration results to date.” White Gold shares gained 3.3% to C$0.47 apiece on Thursday morning in Toronto, for a market capitalization of C$92.89 million. The stock has traded in a 12-month range of C$0.17 to C$0.57. High in ranking The update places White Gold’s deposit roughly in third place for contained gold in Yukon open pit projects. Snowline Gold’s (TSXV: SGD) Valley resource tops the list, with 204 million measured and indicated tonnes grading 1.21 grams gold for 7.94 million contained oz.; and 45 million inferred tonnes at 0.62 gram gold for 890,000 contained ounces. Next up is former miner Victoria Gold’s Brewery Creek project, which hosts 34.5 million measured and indicated tonnes at 1.03 grams gold for 1.1 million contained oz.; and 36 million inferred tonnes grading 0.88 gram gold for 1 million ounces. That project is owned and managed by PricewaterhouseCoopers, the court-appointed receiver for Victoria Gold following the landslide at its Eagle mine last year. Newmont’s (NYSE: NEM; TSX: NGT) Coffee project, just south of White Gold, is in fourth place with 55.5 million measured and indicated tonnes at 1.2 grams gold, for 2.1 million oz.; and 6.8 million inferred tonnes grading 1.07 grams gold for 230,000 ounces. Veteran prospector Shawn Ryan discovered both the White Gold and Coffee deposits. Golden Saddle dominates The update is based on a recent remodelling of the Golden Saddle and Arc deposits at White Gold, the company said. More than half of the update’s total tonnage is concentrated in Golden Saddle, which also hosts a high-grade core of 1.1 million indicated oz. at 2.84 grams gold and 93,000 inferred oz. at 2.03 grams gold at a 1 gram gold cut-off. The rest of the resource is distributed across the Arc, Ryan and QV targets. A small amount of the total resource is classified as underground. An ongoing exploration program is designed to further increase the resource at White Gold in support of a preliminary economic assessment, though the company hasn’t given a timeline for its release.

Gold prices have remained choppy this week with the precious metal remaining in the range between $3300-$3350/oz for the majority of the week. Two key levels which for now it appears buyers and sellers are defending ahead of the Jackson Hole Symposium and Geopolitical developments. Most Read: Bitcoin (BTC/USD) Price Outlook: Mixed Signals as Bearish Potential Grows, $108600 May Hold the Key Strong US PMI Data Fails to Inspire Breakout A strong PMI release may have just aided Fed Chair Jerome Powell. The S&P Global US Composite PMI rose to 55.4 in August 2025, up from 55.1 in July, showing growth for the 31st straight month, according to flash estimates. This was also the fastest growth seen this year. The services sector continued to grow strongly, though activity slightly slowed from July’s peak (55.4 vs 55.7). Meanwhile, manufacturing bounced back, with the PMI rising to 53.3 from 49.8 in July, its highest level since May 2022. Hiring picked up, with job creation hitting one of the fastest rates in three years. Businesses also reported the biggest backlog of unfinished work since May 2022. Now all of this sounds like a solid economy and looking at the data more closely we see a few other interesting points. Most Read: ISM manufacturing PMIs lift US stocks from another bearish open – intraday levels for Dow Jones, S&P 500 and Nasdaq S&P Global’s Chris Williamson noted the survey also showed mounting inflation pressures. Businesses are increasingly passing tariff-related costs through to consumers, and the PMI price indices are now running at their highest levels in three years. Selling prices for goods and services have moved higher, suggesting that consumer inflation will “rise further above the Fed’s 2% target in the coming months. The PMI results create more uncertainty for the Fed. Instead of supporting the idea of immediate rate cuts, the data suggest the economy is closer to conditions that typically lead to rate hikes. “With increased business activity, hiring, and rising prices shown in the survey, the PMI data lean more toward rate hikes than cuts,” Williamson explained. The move did lead to an immediate bounce for the US Dollar Index which has since continued its advance. However as has been the case with Gold of late, the precious metal saw an immediate drop but has since recovered to a near daily high at $3345/oz. This highlights the indecision in Gold at the moment with market participants likely keeping an eye on the Jackson Hole Symposium and Fed Chair Powell. Jackson Hole and Gold Prices Moving Forward Heading into Fed Chair Jerome Powell's speech at Jackson Hole tomorrow Gold appears in desperate need of a catalyst. The Russia-Ukraine situation has a lot of variables to contend with before an actual peace deal may be agreed. Thus geopolitical risk premium is likely to remain in play in the near-term. This leaves monetary policy, where like we discussed above today's PMI data has created more uncertainty for the Fed. The FED minutes also did not really provide anything new to the equation so will there be sparks tomorrow or will the market reaction be muted? Technical Analysis - Gold (XAU/USD) Technical analysis paints a nice picture for bulls though with a break of a bullish pennant pattern which was in play. If you believe the old trading adage ‘technicals hint at what's to come from the fundamentals’ then the question is, are we getting a hint of a dovish speech by Fed Chair Powell tomorrow? From a technical standpoint, Gold has broken the bullish pennant on the four-hour chart. A pullback and retest occurred today so Gold is on its way toward a potential target of $3383/oz. There is significant resistance just ahead which Gold needs to overcome. The 50 and 100-day MA rest at 3343 and 3348 respectively and at this stage are providing a significant hurdle. Supporting a bullish narrative is the period-14 RSI remains above the 50 level which hints that the momentum remains bullish. Gold (XAU/USD) Daily Chart, August 21, 2025 Source: TradingView (click to enlarge) Client Sentiment Data - XAU/USD Looking at OANDA client sentiment data and market participants are Long on Gold with 70% 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 Gold 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.

The US stock open was another one to the downside this morning, with all major indices initially following a break-retest pattern off the late rally seen into yesterday’s close. Current session lows show the Nasdaq (CFD) at 23,091, the S&P 500 (CFD) at 6,360, and today’s focus, the Dow Jones (CFD), at 44,573. However, the 9:45 ISM Manufacturing PMI surprised firmly to the upside, printing 53.3 against expectations of 49.5, suggesting a more resilient industrial backdrop. In addition, Existing Home Sales came in at 4.01M versus the 3.92M expected, adding another layer of support to the broader economic outlook for the session. With this context in mind, let’s now turn to some intraday chart analysis and levels for all Major US indices, starting with the Dow Jones, then the S&P 500 before finishing with the Nasdaq. Read More: US Oil (WTI) consolidates at support but looks for direction – rangebound trading levelsDow Jones intraday chart and levels Dow Jones 2H Chart, August 21, 2025 – Source: TradingView The morning session was a bit rough for the Dow, taking the Industrial index to a retest of the 44,500 Pivot Zone before the upbeat ISM data took the index back higher. With the morning rebound happening on the short-trend upward channel's lower bound, further upside could be expected. Bulls will however have to break above the 50-period Moving average acting as immediate resistance. RSI momentum is closer to neutral – Let's see how the Jackson Hole Conference (and Powell's speech at 10:00 A.M. tomorrow) will influence sentiment. Levels of interest for Dow Jones Trading: Resistance Levels session highs 44,887 (2H MA 50 in confluence)All-time high resistance zone 45,000Current All-time Highs 45,283Support Levels current session lows 44,570 (confluence with lower bound of channel)44,400 to 44,500 Pivot and 2H MA 20044,000 Main Support ZoneS&P 500 intraday chart and levels S&P 500 2H Chart, August 21, 2025 – Source: TradingView The S&P 500 intraday chart looks more bearish than the Dow, with prices having already broken out of the May upward Channel, a downward trendline acting as resistance and RSI holding lower. Immediate momentum seems to be on hold however. Levels of interest for S&P 500 Trading: Resistance Levels session highs 6,390 (2H MA 200 in confluence)End-July Top now Pivot 6,420 to 6,430All-time high resistance zone 6,450 to 6,490Current All-time Highs 6,489Support Levels Main support 6,340 +/- 5ptsShort-term Key Support just below 6,300NFP Lows 6,216Nasdaq 2H intraday chart and levels Nasdaq 2H Chart, August 21, 2025 – Source: TradingView Nasdaq trades a bit more erratically than its brothers, but one thing is sure: Bears have managed to break out of the May upward channel and bulls will have to fight to avoid this being a longer-run trend. The latest break-retest in yesterday's session shows a more bleak outlook for the tech-focused index, but everything will confirm with Powell's speech tomorrow and future data in the waiting of the September Meeting. Levels to watch for the Nasdaq: Resistance Levels Current All-time Highs 23,98623,500 Support turned resistanceBroken upward Channel lows 23,350Support Levels 23,000 Key momentum Pivot22,700 support at NFP lowsEarly 2025 ATH at 22,229 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.

Energy Fuels (NYSE: UUUU) (TSX: EFR) says it has successfully produced the first kilogram of heavy rare earth oxides at pilot scale from its White Mesa mill in Utah. For years, the Lakewood, Colorado-based company has been the leading US producer of natural uranium concentrate. Its White Mesa mill represents the country’s only licensed uranium mill, from which critical minerals such as vanadium and rare earth element (REE) oxides are produced. Commercial production of REEs, in particular light rare earths neodymium (Nd) and praseodymium (Pr), started in June 2024 after three years of pilot work by Energy Fuels and subsequent commissioning of its rare earth separation circuit. Recently, the company confirmed that the White Mesa facility also has the capability to produce heavy rare earths, namely dysprosium (Dy), terbium (Tb) and samarium (Sm), which are less common and are key to high-performance technologies such as military applications. Successful production of these minerals would make it the first US supplier of HREEs that processes mined ores at a commercial facility, Energy Fuels has said. The HREE pilot project began in mid-July, beginning with Dy, then moving onto Tb and Sm. Pending its success, commercial production could begin as early as the fourth quarter of 2026. High-purity Dy On Thursday, the company revealed that its first batch of Dy production achieved a purity of 99.9%, which is well in excess of the 99.5% commercial specification. This announcement, it adds, makes Energy Fuels the first US company to both produce high-purity Dy oxide and publicly disclose actual production volumes and purities. The oxides were produced from monazite mined in Florida and Georgia, demonstrating the expected viability of a completely non-Chinese rare earth oxide supply chain, Energy Fuels said, adding that multiple magnet manufacturers and OEMs have already expressed their strong interest in obtaining these samples to accelerate their validation processes. The company also said it believes the quantity and purity of its Dy oxide production is “unmatched” in the US at this time and is a testament to White Mesa’s “world-class REE production capabilities.” Shares of Energy Fuels were up 5% to $8.98 on the NYSE following the announcement, taking the company’s market capitalization to nearly $2 billion. The stock had plunged from its 52-week high of $10.74 earlier this week on overall weakness of the uranium sector. HREE commissioning “Energy Fuels’ high-purity Dy oxide production is a major leap toward securing a US supply of ‘heavy’ rare earth oxides for a variety of commercial and defense uses,” Energy Fuels CEO Mark Chalmers commented in a press release. “This is real, high-quality material in-hand, ready for independent testing, demonstrating that our Utah facilities can deliver world-class critical minerals domestically.” The pilot-scale production is expected to continue until approximately 15 kg of Dy oxide are produced. At that point, Energy Fuels will begin producing high-purity terbium oxide and is targeting year-end for the first samples of Tb oxide to be available for end-user validation. Due to the ongoing progress of this pilot project, the company said it plans to build and commission the commercial-scale HREE separation capacity at White Mesa to meet the Q4 2026 production timeline.

Dogecoin, despite being held up around the $0.21 to $0.23 price zone, has seen its user base grow with adoption among crypto investors of all types. Notably, on-chain data shows that Dogecoin has now surpassed 8 million in terms of addresses holding a non-zero balance. On‑chain analytics from Santiment reveal that Dogecoin has risen from approximately 6.9 million holders earlier in 2025 to the latest 8 million milestone. Only Ethereum and Bitcoin exceed Dogecoin when it comes to user base size. Dogecoin Holder Count Keeps Surging The momentum behind Dogecoin’s adoption shows no sign of slowing down, and the number of addresses holding the meme cryptocurrency is now above 8 million. This trend in Dogecoin holders stems from the cryptocurrency increasingly becoming the go-to asset for many retail traders. This, in turn, has seen the number of Dogecoin holders continue to surge this year, especially as retail investors start to transition from other large market-cap cryptocurrencies like Bitcoin, which many now argue is the crypto for institutions. Although Dogecoin also saw a huge growth in the number of holders in 2024, the growth in 2025 is outpacing the trend seen in 2024, To put this into perspective, it took the whole year to add 1 million new DOGE holders in 2024, whereas in 2025, the same milestone has taken less than eight months. This is a substantial increase from about 6.9 million holders in the beginning of 2025. The latest figures place Dogecoin well ahead of other large market cap cryptocurrencies such as Cardano (ADA), Chainlink (LINK), and XRP, as well as major stablecoins including USDT and USDC, in terms of total holder count. Only Ethereum, with about 148 million addresses, and Bitcoin, with around 55 million, surpass Dogecoin’s adoption levels. DOGE Whales Continue Accumulating The steady increase in new Dogecoin addresses has been supported by a corresponding increase in whale accumulation. Trading data shows that large wallets have added more billions of Dogecoins in recent weeks. For instance, recent on-chain data shows that wallet addresses holding between 100 million and 1 billion Dogecoin recently added about 2 billion Dogecoin worth $448 million to their holdings within a week. At the institutional level, Bit Origin made headlines after committing $500 million to a Dogecoin treasury last month when the price was hovering around $0.24. Technical traders are also paying close attention. One analyst known as Trader Tardigrade pointed out that DOGE’s current chart setup is nearing the final stages of consolidation before a pump on the daily candlestick timeframe chart. If this pump were to manifest, the analyst projects a pump to $0.41 after breaking out of a triangular consolidation pattern. Interestingly, a longer-term analysis from the same analyst on the monthly candlestick timeframe chart shows that Dogecoin has built a support base and is ready for the next leg up that would take it to as high as $4. At the time of writing, Dogecoin is trading at $0.222, up by 4.3% in the past 24 hours.

The British pound is down for a fourth straight day and has dropped 0.9% this week. In the North American session, GBP/USD is trading at 1.3432, down 0.16% on the day. The UK was scheduled to release July retail sales on Friday, with a market estimate of 0.4%, but that has been delayed until September 5. UK PMIs: services accelerates, manufacturing weakens UK PMIs were a mixed bag in August. The Services PMI improved to 53.6, up from 51.8 in July and above the market estimate of 51.8. Business activity rose for a fourth straight month and hit its fastest pace in a year. There was an increase in new orders and business confidence rose on expectations that consumer demand will improve. The manufacturing sector continues to struggle and the contraction worsened in August. The PMI fell to 47.3 in August from 48.0 in July. New orders decreased and employment losses deepened as the uncertainty over US tariffs has resulted in subdued global demand. The silver lining was that manufacturers' optimism improved. Fed minutes points to split The Federal Reserve released the minutes of the July meeting on Wednesday. The Fed didn't surprise anyone by maintaining rates but the meeting made headlines when two FOMC members voted against the majority in favor of a rate cut. This was the first time in over 30 years that more than one member has voted against a rate decision. The minutes noted the differing views on the Fed's dual mandate of inflation and employment. The economy faces an upside risk to inflation and a downside risk to employment, complicating rate decisions. At the meeting, the majority judged higher inflation as the greater risk while the minority believed that the deterioration in the labour market was the greater risk. The Fed is expected to lower rates in September for the first time since December 2024, with an 80% probability of a quarter-point cut according to CME's FedWatch. GBP/USD Technical GBPUSD is testing support at 1.3431. Below, there is support at 1.3416There is resistance at 1.3457 and 1.3472 GBPUSD 4-Hour Chart, Aug. 21, 2025 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.

The Asian Development Bank (ADB) will provide a $410 million financing package to support development of Pakistan’s Reko Diq copper-gold project, one of the world’s largest untapped deposits, operated by Barrick Gold (NYSE: B), Reuters reported on Thursday, citing two sources. The package includes two loans totaling $300 million to Barrick and a $110 million financing guarantee for the government of Pakistan. It forms part of a broader $6.6 billion development plan for the mine in Balochistan, which is 50% owned by Barrick and 50% by Pakistan’s federal and provincial governments. Shares of Barrick rose 0.6% Thursday morning, valuing the miner at $42.9 billion. Reko Diq’s scale and outlook Reko Diq is forecast to generate about $70 billion in free cash flow over its life and more than $90 billion in operating cash flow. The mine is expected to begin production in 2028, initially delivering 200,000 tonnes of copper annually in Phase 1, before expanding to 400,000 tonnes per year. A recent feasibility update increased Phase 1 throughput from 40 to 45 million tonnes per year, with costs rising to $5.6 billion from earlier estimates of $4 billion. Phase 2 will process 90 million tonnes annually, up from 80 million. While the mine’s current operating life is pegged at 37 years, Barrick believes upgrades and exploration could extend operations for decades beyond. Growing international interest The ADB’s commitment adds to a previously agreed $700 million financing package from the International Finance Corporation (IFC), the World Bank’s private investment arm. The project’s developers are also in talks with the US Export-Import Bank, Export Development Canada, and Japan’s JBIC, with term sheets expected this quarter. The financing push aligns with Islamabad’s efforts to attract foreign investment into its mining sector, including rare earths, and comes amid a thaw in relations with Washington. US Secretary of State Marco Rubio recently highlighted critical minerals as a new area of cooperation, noting potential U.S.-Pakistan joint ventures. Pakistan’s commerce ministry has indicated that American firms will be offered lease concessions and joint venture opportunities in Balochistan. For Pakistan, Reko Diq is not just a mining project but a potential catalyst for wider investment in the country’s resource-rich Balochistan province. For the U.S. and its allies, participation in the project supports efforts to diversify critical mineral supply chains away from China. After years of delay due to legal disputes—finally settled in 2022—the project is moving ahead with renewed momentum.

This article is an update to the piece released on Monday: US Oil breaks out as bearish catalysts fade US Oil has indeed broken out of its downward trend amid progress in Ukraine-Russia talks, bolstering prospects from bulls of a lesser supply. However, with Markets awaiting for an actual solution to the conflict, supplemented by anticipation for more economic talks from the FED and other Central Banks at the upcoming Jackson Hole Symposium, the mood looks to be for consolidation. Despite rumours of a ceasefire in the Middle East, we haven't seen much progress from that side also; Iran also contributes to elevate Supply. This morning's candle shows a failed attempt to trade higher with ongoing trading still trying to find direction. All things considered, rangebound markets should dominate technicals until more news are published, so let's discover what the current range is and how to exploit it the best. And don't forget to stay in touch with the latest news on ceasefires and everything else on Marketpulse! US Oil Technical AnalysisUS Oil Daily Chart US Oil Daily Chart, August 21, 2025 – Source: TradingView We are on the 7th consecutive day of consolidation in the Commodity. The price action does seem to have found technical support however, with prices failing to hold the downward trendline from the end of July and the Daily RSI making higher lows. Additionally, the key Daily Moving Averages are holding $3 higher from the price action (for example, the 50-Day MA is at $67.30). Higher timeframe MAs tend to act as magnets in rangebound trading, but bulls will first have to show more strength. Let's have a closer look. US Oil 4H Chart US Oil 4H Chart, August 21, 2025 – Source: TradingView We see further detail of the ongoing consolidation held between $62.20 lows to $64.25 highs. Buyers are trying to build momentum at an ongoing mini-upward trendline – with the 4H 50-period MA acting as immediate support (63.40), it will be essential to spot if they manage to provide more direction. A failure to hold the trendline and Moving average would point to more consolidation. Level to place on your WTI Charts: Resistance Levels $64 to $64.20 consolidation highs$66 to $67 Mid-range levelhigh range resistance $67.30 to $68 – Confluence with 50 and 200 Day MAsSupport Levels $62.00 to $62.50 consolidation supportWednesday lows $62.19 (current double bottom)$60.5 Low of May Range$55 to $57 2025 lows Main supportUS Oil 1H Chart US Oil 1H Chart, August 21, 2025 – Source: TradingView Looking even closer to the 1H timeframe, we spot how the extremes of the consolidation have acted as bounds for the rangebound trading. The $64 to $64.20 level is acting as Resistance and the $62 to $62.50 is acting as Consolidation Support. Any breakout from there would lead to higher chances of breakouts, with prolonged consolidation usually leading to built positioning at current levels, leading to precipitated covering. A break above $64.85 would magnify the odds of a July range re-integration (between $65 to $70.5. 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.

Bitcoin’s recovery attempt is drawing attention after a week of steady losses, with one market watcher warning of a deeper fall if the coin fails to push past the $120,000 region. The price of the world’s biggest cryptocurrency has already slipped by over 7% since touching $124,450 last week, raising doubts about the strength of its next move. Wave Structure Signals Critical Stage According to technical analyst CasiTrades, Bitcoin touched a low of $112,500 earlier today, a level that aligned with multiple timeframe targets. The move also came with bullish divergences on momentum indicators, which pointed to a short-term rebound. The analyst framed this drop as part of a corrective pattern, calling it Wave 1 of an A-wave. The next stage, labeled Wave 2, is expected to deliver a relief bounce. CasiTrades suggested that this move could carry Bitcoin back into the $119,900 to $121,900 zone. If rejection happens there, the decline could intensify into Wave 3, with possible downside reaching as far as $88,000. Reports explained that the bearish scenario would be invalidated if Bitcoin could print a new all-time high beyond $124,500. That would necessitate a reset in the corrective setup, which would have bulls with more leverage in the short term. Altcoins Show Signs Of Rotation As Bitcoin struggles with resistance, bigger-cap altcoins have been exhibiting mixed action. CasiTrades thinks that traders may move into these assets in Bitcoin’s downtime, anticipating that they will make more considerable movements in the meantime. XRP, which dropped to $2.85 earlier in the day, has rebounded slightly and now trades at $2.90. That still leaves it down 1.30% over the last 24 hours. Ethereum is faring better, gaining 1.8% to trade at $4,269, while Solana added 2.5% to reach $183. Market watchers say this kind of rotation is not unusual. When Bitcoin stalls at major resistance levels, traders often chase higher returns in altcoins that carry more volatility. Uncertainty Ahead For Traders The focus remains squarely on the $120K–$122K area. A clean breakout would indicate that Bitcoin is gaining strength again, while rejection would validate CasiTrades’ expectation of a greater fall. They are now considering those possibilities, with some waiting to build up on dips and others opting to remain in wait-and-see mode until the picture becomes clearer. For the time being, the market is divided between anticipation of a rebound and fear of further correction. Altcoins are showing some relief with isolated areas of green, but the response of Bitcoin at resistance will tend to dictate the tone for the next few days. Featured image from Unsplash, chart from TradingView