KLEA Crypto Daily: Friday, August 29, 2025

Published: August 30, 2025 – 00:03 UTC

Here’s a look back at the key stories from August 29, 2025.

Gryphon Digital Mining Shareholders Vote to Combine with Trump-Linked Bitcoin Mining Venture

Gryphon Digital Mining shareholders have voted to combine with a Trump-linked bitcoin mining venture, as reported by The Block. This move signifies a significant development in the cryptocurrency mining industry.

Bitcoin Whale Sitting on $5 Billion Dumps More BTC to Buy Ethereum

A wealthy Bitcoin holder exchanged $216 million worth of BTC for ETH on Friday, continuing to shift long-held gains into Ethereum.

Ethereum Foundation Makes Interoperability Its Short-Term UX Focus

The Ethereum Foundation has shifted its focus to interoperability as the top priority for improving user experience in the next six to twelve months. This change aims to simplify the integration process across all Ethereum networks.

Tron Slashes Fees by 60% to Boost On-Chain Activity

Tron's community vote results in a 60% fee reduction, aiming to increase on-chain activity. Founder Justin Sun confirms the proposal's approval, marking the largest fee cut since Tron's inception.

Bitcoin Nosedives to $108K as $110M in Longs Vanish in 24 Hours

Bitcoin's price drops below $109,000, triggering concerns as $110 million in long positions disappear within 24 hours. Glassnode warns of potential further decline to $93,000–$95,000 if critical support near $107,000–$108,900 is breached.

Bitcoin Hashrate Rockets to New Heights, Smashing Through 980 EH/s Barrier

Bitcoin's hashrate has surged past the 976 exahash per second (EH/s) record, reaching between 979 and 986 EH/s. This significant increase in computational power indicates a strong and steady upward trend for the network.

Altcoins Tumble, Bitcoin Tests $109K as Crypto Markets Deal With US Core Inflation Data

Bearish sentiment dominated cryptocurrency markets on Aug. 29, with bitcoin dropping below $110,000 and major altcoins experiencing losses of 2% to 8%. Bitcoin fell to $109,436, marking a significant decline.

Bitcoin Bull Market ‘Falls Asleep’ After 700% Run, Analyst Warns

Bitcoin is currently hovering near $110,000 and trading in a tight range, leading traders to question if the bull market has slowed down after a remarkable 700% rally from late 2022 lows. Analysts are observing signs of fading momentum in Bitcoin's performance.

Stablecoins Hit Record $283bn as Analysts Eye Path to $2 Trillion by 2029

The total value of stablecoins in circulation has reached a record $282.83 billion, reflecting a 128% increase since the start of the year. Analysts predict a potential path to $2 trillion by 2029, driven by growing demand and regulatory developments.

Bybit Advanced Earn Introduces Volmex Implied Volatility Indices to Capture Market Movements

Bybit has integrated volatility indices trading with the Bitcoin Volmex Implied Volatility Index (BVIV) and Ethereum Volmex Implied Volatility Index (EVIV) on Bybit Advanced Earn. This move allows traders to leverage market sentiment and volatility trends of BTC and ETH for strategic trading decisions.

South Korea Busts Hacking Syndicate After Multi-Million Dollar Crypto Losses

Seoul police have arrested 16 suspects who stole $28M from crypto and bank accounts, targeting BTS’s Jungkook and wealthy Korean investors.

CoinShares Reports 26% AUM Increase to $3.46B in Q2

CoinShares’ net profit rose 35% to $32.4 million in Q2, up from $24 million in the previous quarter.

Ethereum ICO Participant Transfers 0.001 ETH After 10+ Years, Now Worth $694K

An Ethereum ICO participant with the address "0x42D3" recently moved 0.001 ETH for a test after over a decade of dormancy. The initial $49 investment in the ICO has now grown to 158 ETH, valued at $694K, showcasing a remarkable 14,177x return.

DeFi Development Corp Acquires $77 Million Worth of Solana Tokens

DeFi Development Corp (Nasdaq: DFDV) has significantly increased its Solana holdings with a $77 million acquisition of 407,247 SOL tokens, signaling a growing institutional influence in the crypto market.

Chainlink Partners With U.S. Commerce Department to Provide Economic Data On-Chain

Chainlink's collaboration with the U.S. Department of Commerce to bring official economic data onto blockchain networks marks a significant milestone in connecting traditional economic reporting with decentralized systems, enhancing accessibility and trust in the industry.

Source: KLEA News