Key Insights from the Market

You are reading the Crypto Daybook Americas, your early morning overview of the latest developments in the cryptocurrency market as they unfold overnight.

Today’s Highlights

The cryptocurrency market has seen little change since Saturday, with Bitcoin struggling again to maintain prices above $116,000. Significant selling from early adopters, commonly referred to as OGs, continues to pressure the market.

BTC Performance

According to blockchain analyst Lookonchain, an eight-year Bitcoin holder moved 1,176 BTC, valued at over $136 million, to Hyperliquid and began to offload. This holder is noted for having exchanged 35,991 BTC for 886,731 ETH in recent months.

Ether’s Appeal

Whale wallets in ether are increasing their holdings, indicating a possible outperformance compared to Bitcoin. Nevertheless, the ether-Bitcoin ratio on Binance has been notably falling for three consecutive days, after a trendline breakout was confirmed last Friday.

Memecoins Under Pressure

Memecoins that have recently gained momentum are seeing a decline, with top tokens DOGE and SHIB losing 10% and 6%, respectively, within the last 24 hours.

Solana Activity

Despite steps to foster the usage of Solana-native decentralized finance (DeFi), SOL traded sharply lower at $234.

Kyle Samani from Forward Industries, a Nasdaq-listed company, mentioned on X that they plan to invest in Solana-based DeFi protocols after raising $1.65 billion through a private placement.

Special Events

On the macroeconomic front, all eyes are on potential upcoming Fed rate cuts, with The Short Bear cautioning market participants on social media:

“Sentiment is at extremes. Careful out there.”

Upcoming Events:

• Curve DAO voting updates.
• Unlocked assets for STARK and SEI on September 15.
• Day 1 of Budapest Blockchain Week 2025 and TGE Summit 2025 in New York.

Note: This article is part of the Crypto Daybook Americas series, providing in-depth market analysis and updates. For more insights, subscribe to our newsletter.