Cryptonews

But Hayes didn’t stop there. Oh no. He’s gone full-tilt into DeFi, scooping up 425,000 Lido DAO (LDO) tokens ($557,000), 420,000 ETHFi tokens ($517,000), and 185,000 Pendle (PENDLE) tokens ($1.01 million). It’s like he’s betting on a bumper crop of altcoins, though whether he’s a prophet or just a man with a restless wallet is anyone’s guess. 🤔

The crypto market this week decided to act less like a dignified financial system and more like a toddler on a sugar high. Total market cap? Oh, it soared past $4 trillion-because why stop at $3.9 trillion when you can aim higher? Bitcoin hit a 10-day high near $118,500, thanks to whale activity and what I imagine were some very caffeinated traders. Meanwhile, Ethereum broke through the $4,300 barrier faster than a jackrabbit fleeing a hound dog. Altcoins like XRP joined the party too, proving once again that in crypto, everyone gets invited-even Ripple, which finally resolved its SEC saga after years of courtroom drama fit for a soap opera.

Turns out, the big whales are back at it-moving more than $16 million worth of ETH to Kraken right after Ethereum broke out of a multi-year triangle pattern that’s been quietly forming since 2021. Many experts are
whispering that this breakout is the real deal, with price targets soaring to $15,000-possibly a 372% rise from where we are now. Yes, you read that correctly: three hundred and seventy-two percent! Everyone loves a good rocket ride, don’t they? 🚀

With the air of a man dissecting a particularly amusing farce, Pal divided the crypto landscape into three tiers of folly: the “idiot-proof” layer-1s, the “middle”-a veritable quagmire of DeFi esoterica-and the pièce de résistance, the “Moron Trade.” “Not an insult, mind you,” he assured, “merely an observation of the nouveau riche’s penchant for the cheapest trinkets in the window.” 🛍️🤡

Now, don’t go thinking this Doge has lost its luster. Sure, it ain’t broken its all-time high, but it’s still got more pep than a flea at a dog show. Back in January 2025, the ol’ boy hit $5.5 billion-its crowning moment before it came crashing down like a house of cards in a tornado. Then, in July 2025, it looked like it might claw its way back to glory, but nope-just $5.35 billion before it spiraled faster than a politician’s promises. 🤡

Now, picture this: XRP, at this very moment, is holding support at a level above $3, after having flirted with a wild crash below this line (thank you, bears!). But with a trendline as determined as a determined postman, it has managed to break above, sending a signal louder than a brass band that it’s all systems go for a possible continuation. It’s as though XRP was once a shy wallflower at the crypto dance, but now it’s strutting its stuff like the lead in a Broadway show.

So, they hit $122,056. Which is…something. They call it testing a “Fibonacci extension.” Sounds like a math problem I failed in 7th grade. From 2018 and 2022. Why those years? Don’t ask me. 🤷

Price action was nothing short of a theatrical performance, replete with early-session melodrama that saw a sharp drop from $3.24 to $3.16 during the 07:00 hour on a rather respectable volume of 144.54 million. However, buyers bravely defended the $3.15-$3.16 zone, leading to a late-session push that waltzed past the $3.22 resistance and held above $3.24 as the curtains fell.

The Electric Enterprise of Ethiopia (EEP), ever the shrewd salesman, once hawked its surplus energy to these foreign-backed fortune seekers-cash in hand, paid in hard currency. But as the sages of the land caution, the reported consumption might well be a mirage. In truth, these crypto miners have lined the coffers with a princely $338 million in export revenue last year-a 141% leap that seems almost too good to be true. And yet, despite 20 power stations and electricity flowing to neighbors like Kenya and Djibouti, only about half the Ethiopians even know what it means to flip a switch. The awaited Grand Ethiopian Renaissance Dam (GERD), promising a torrent of 5,000 megawatts, still dangles before a nation that must first string together the steel sinews of a modern transmission network. In this unfolding saga, progress and prudence dance a precarious tango, leaving one to smirk at the age-old twist: in the quest for power, sometimes the power you need is the very thing you risk losing. 😏

White House Crypto Council Executive Director Bo Hines announced on the social media platform X on Aug. 9, 2025, that he will step down from his role and return to the private sector. “Serving in President Trump’s administration and working alongside our brilliant AI & Crypto Czar David Sacks as Executive Director of the White House Crypto Council has been the honor of a lifetime,” Hines stated, elaborating: