[LIVE] Latest Crypto News, August 7 – Mixed Signals From The Market As BTC Hovers Around $115K Is There a Best Crypto to Buy Right Now?

[Redator]

The search for the best crypto to buy right now continues as the market sends mixed signals. Bitcoin is hovering around $115,000, stuck in a low-volume zone between $110K and $116K. Traders are watching this tight range closely, as a break lower could trigger more downside. Meanwhile, Ethereum briefly broke above $3,700 before pulling back, adding to the market’s uncertain tone.

But there is more.

Some sectors are holding up better than others. Layer 2 tokens like Mantle jumped more than 20% in the last week, while centralized exchange tokens such as BNB and CRO posted modest gains. On the other hand, meme coins, PayFi projects, and AI tokens saw losses, showing less confidence from investors.

ETF activity has started to turn positive again. On August 6, U.S. spot Bitcoin ETFs saw $91.55 million in net inflows after four days of outflows. Ethereum ETFs also recorded $35.12 million in net inflows, with only Grayscale’s ETH Mini Trust posting a small outflow.

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Binance released its latest Proof of Reserves report, showing user BTC holdings increased by nearly 3% to 591K BTC. ETH holdings, however, dropped by almost 10%, possibly due to rotation into other assets. USDT balances rose to nearly $30 billion, signaling steady stablecoin demand.

Ethereum network activity is also heating up. The network handled 1.87 million transactions yesterday, close to its all-time high. According to Nansen, much of this activity comes from USDC, Tether, and Uniswap.

(Source)

Best Crypto to Buy? Look Where Activity Is Growing

In this uncertain environment, we still can ask ourselves: what’s the best crypto to buy right now? For now, Layer 2 tokens and CeFi coins are showing strength, backed by growing usage and investor interest. While Bitcoin remains range-bound, altcoins tied to real network activity or ETF momentum may offer the best short-term setups.

Still, caution is key. Until Bitcoin breaks above $116,000 with conviction, gains could be short-lived. Watching sector rotation and inflows will be critical in spotting the next strong move.

38 minutes ago

Union Jack Oil Eyes Early Bitcoin Mining at West Newton Site

By Fatima

Union Jack Oil plc has announced early-stage plans to monetize gas from its West Newton site (PEDL183) by powering on-site Bitcoin mining operations. Operator Rathlin Energy has signed a non-binding Letter of Intent with Texas-based 360 Energy Inc. to explore the deployment of gas-powered data centers.

This strategy would convert natural gas from the WNA-2 well into electricity for mining Bitcoin, offering early cash flow ahead of full field development. The companies are now working toward a definitive agreement, pending regulatory approval.

Executive Chairman David Bramhill called the plan a creative solution amid planning delays, with potential to deliver strong returns and support a future Bitcoin treasury strategy.

West Newton holds an estimated 200 billion cubic feet of recoverable gas, making it one of the UK’s largest onshore gas prospects.

2 hours ago

Delhi High Court Tells WazirX To Hand Over Binance Deal

By Fatima

The Delhi High Court has ordered Zettai Pte Ltd, the company behind crypto exchange WazirX, to hand over documents detailing its agreement with Binance, as well as its ongoing restructuring plan.

The court gave a deadline of one week. This comes after months of fallout from a $235 million hack and a growing number of lawsuits from creditors trying to recover lost funds.

Now creditors demand answers after major breach.

Read The Full Article Here

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