Crypto World
Wintermute Lands US Broker License and a 5-Year Plan to Rival Citadel
Wintermute’s US arm has registered as a broker-dealer and already signed exchange-traded fund (ETF) issuers as clients, the Wall Street Journal reported.
The registration clears Wintermute USA to register as a market maker on American stock exchanges. Chief Executive Evgeny Gaevoy said the firm wants to compete with Jump Trading, Jane Street and Citadel Securities within three to five years.
What the Wintermute Broker License Changes
One list frames the whole move. BlackRock’s iShares Bitcoin Trust held $43.2 billion at the end of June. A dozen firms are cleared to create and redeem its shares, the job that keeps an ETF trading close to the value of what it holds.
Not one of them is a crypto company. The fund’s latest prospectus names Jane Street, Citadel Securities, Virtu Americas, Goldman Sachs and JPMorgan among them.
That is the gap Wintermute is stepping into. It says it quotes prices across more than 60 venues, yet it could not touch the plumbing of crypto’s own flagship product. The job needs a broker-dealer license.
Now it has one. It also has customers waiting, according to the Journal.
Registration does not make Wintermute a Wall Street firm overnight. It makes it eligible.
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Wintermute Takes Aim at Jump, Jane Street and Citadel
Gaevoy gave himself three to five years to catch those three firms, the Journal reported.
The plan runs in stages. Wintermute starts with commodities and digital asset ETFs, the markets closest to what it already trades. Tokenized equities follow, if regulators allow them. Designated market maker status on a major exchange sits at the end.
Each stage needs a separate approval. None of them is automatic.
The numbers show how steep the climb is.
Three firms hold designated market maker status on the New York Stock Exchange, according to the exchange’s own model. They are Citadel Securities, Virtu Americas and GTS Securities.
Every listed stock gets exactly one. Citadel Securities holds that role for more than 1,900 of them, about 62% of NYSE listings, and issuers picked it for more than 80% of NYSE IPOs. A designated market maker must also carry at least $75 million in capital before inventory risk.
Wintermute’s case rests on who it already serves. Institutions drove 72% of its spot over-the-counter (OTC) volume in the first half of 2026, up from 59% a year earlier, according to Wintermute’s institutional flow data.
“At three quarters of volume, institutional flow defines market structure,” Wintermute, H1 2026 OTC flow report.
Those clients already buy equities, commodities and ETFs somewhere else.
The groundwork started early. The firm opened a New York headquarters in May 2025 and hired Ron Hammond, previously of the Blockchain Association, to lead policy work.
The Financial Industry Regulatory Authority (FINRA) has 180 days to act once a membership application is complete. It oversaw 3,184 broker-dealers at the end of 2025, down from 3,394 in 2021.
Wintermute joins a shrinking club, not a crowded one.
Tokenized Stocks Remain the Bigger Prize
The tokenized equities stage carries the most weight.
That market is already forming. The US Securities and Exchange Commission (SEC) cleared a tokenized share trading rule from Nasdaq in March 2026. In June, NYSE owner Intercontinental Exchange backed a tokenized equities venture with OKX.
Wintermute had already made its case. In a September 2025 submission to the SEC’s Crypto Task Force, it argued broker-dealers should be free to trade tokenized securities for their own account and hold them in wallet software.
That was a lobbying position then. It is a licensed firm’s position now.
Two questions remain open. Which securities Wintermute quotes first, and whether any exchange grants it market maker status at all.
Registration buys the ticket. It does not hand over the seat.
The post Wintermute Lands US Broker License and a 5-Year Plan to Rival Citadel appeared first on BeInCrypto.
Whether XRP reaches $5 depends on one distinction. ChatGPT AI predicts institutions will start treating it as financial infrastructure rather than a speculative token, and that shift underpins a price prediction of $5 to $8 by the end of 2026 from $1.06.
Regulatory clarity opens the list of catalysts. Growing institutional adoption follows, with spot XRP ETF inflows pulling liquid supply off the market.
Ripple Payments usage keeps expanding. XRP Ledger activity accelerates alongside it, spanning tokenized real-world assets, AMMs, and stablecoin settlement.
RLUSD strengthens the surrounding ecosystem. Broader crypto tailwinds add lift if the majors stay strong.
ChatGPT frames a conservative base case of $2 to $4. The full $5 to $8 needs ETF assets and real-world utility scaling together.
The bear argument is sharper than usual. Ripple’s enterprise growth could increasingly benefit RLUSD and fiat rails rather than XRP itself.
ETF demand is underwhelming, the second concern. On-chain utility failing to generate sustained token demand is the third.
Any of that leaves XRP range-bound around $1.50 to $3. Positive headlines would keep coming while XRP price goes nowhere.
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XRP Price Prediction: Infrastructure Or Speculation, The Distinction That Decides XRP
The daily chart has offered little comfort. XRP topped above $3.20 in September and has declined almost without pause since.
October brought a violent wick down toward $1.60 before recovery. February then broke the $1.80 shelf and dropped price to roughly $1.15. Spring produced a long consolidation between $1.30 and $1.55. That floor gave way in June.
July marked the low near $1.03. Price has since chopped sideways in a tight band without reclaiming meaningful ground. The close reads $1.07050, down 0.23% and $0.00251 on the day. The session traveled from $1.05377 to $1.07584.
Support sits at $1.05 and then $1.03 at the July bottom. Resistance begins at $1.20, then $1.30 and $1.40. RSI reads 44.56 with the signal line just above at 44.91. The lines are nearly touching, separated by less than half a point.
That reading sits below the midline in mildly bearish territory. Momentum has flattened rather than turned.
ChatGPT is describing a market that does not exist on this chart yet. Reclaiming $1.20 would be the first sign institutions are buying the infrastructure argument.
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Most traders express their view the only way they know how: by buying the coin. But when your opinion is about a rate decision, an inflation print, or where the market lands by year-end, spot exposure prices dozens of other things alongside it, liquidity, sentiment, unrelated flows, whatever happens overnight in a market you weren’t watching.
You can be right about the thing you actually studied and still lose money on everything else attached to the position.
Kalshi removes the attachments. It’s a CFTC-regulated exchange where you take a position on the event itself: the Fed’s next move, inflation prints, and where a coin closes the year. One question, one outcome, one settlement, resolved against a defined source.
Because every contract is backed by real capital, the prices work as a live read on what the market genuinely expects, which is why the odds tend to move before the headlines catch up. It’s a forecast that costs something to be wrong about.
And it does cost something. A contract that resolves against you goes to zero, and a correct call on the wrong timeline still expires worthless. Event trading rewards precision about when, not just what. Size accordingly.
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The post ChatGPT AI Predicts XRP Could Be Quietly Setting Up a Big Move appeared first on Cryptonews.
Two groups affiliated with the cryptocurrency company-backed political action committee (PAC) Fairshake disclosed spending more than $1.5 million on media to support House of Representatives and Senate candidates in Florida, Alaska and Wyoming after suffering a primary loss in Michigan on Tuesday.
According to Federal Election Commission (FEC) filings as of Thursday, Fairshake PAC affiliates Defend American Jobs and Protect Progress spent a combined $1.5 million on ads for Republican and Democratic candidates, many of whom voted in favor of the Digital Asset Market Clarity (CLARITY) Act while serving in Congress.
In Alaska’s at-large congressional district, scheduled to hold a primary on Aug. 18, Defend American Jobs spent more than $500,000 on media supporting the re-election of Representative Nick Begich. The Super PAC spent about the same amount on Republican candidate Sydney Gruters in Florida’s 16th district, and Representative Harriet Hageman, running for the soon-to-be-vacant Wyoming Senate seat now occupied by Cynthia Lummis. Both US states will also hold primaries on Aug. 18.
The reported expenditures follow a primary loss for a Protect Progress-supported candidate in Michigan’s 13th Congressional District. On Tuesday, Democratic incumbent Shri Thanedar lost a primary to State Representative Donavan McKinney after the Super PAC poured more than $2 million into media supporting the former. The final day of Thanedar’s current term in Congress will be in January 2027.
Related: US Senate will vote on CLARITY crypto bill ‘without any question’ this week: Tim Scott
On the Democratic side, Protect Progress reported spending more than $50,000 for the re-election of Lois Frankel in Florida’s 23rd district. Frankel, Begich and Hageman all voted in favor of the GENIUS Act and CLARITY Act while serving in Congress, while Gruters did not appear to have made any public statements on crypto or blockchain, with the exception of saying she supported the crypto market structure bill in a questionnaire conducted by the advocacy organization Stand With Crypto.
The expenditures were the latest examples of Fairshake and cryptocurrency industry-aligned groups attempting to influence US elections through media. The Super PAC reported spending more than $170 million in the 2024 US election cycle on House and Senate races, potentially changing the makeup of the current Congress.
CLARITY votes to influence 2026 midterms?
While it was still uncertain as of Thursday whether the US Senate would hold a vote on the CLARITY Act before the chamber broke for a month-long recess, how lawmakers cast their ballots could affect whether the crypto industry actively supports or opposes their re-election bids. All 435 House seats are up for grabs in 2026, as are 33 seats in the US Senate.
In January, Stand With Crypto said that its “primary goal” in 2026 was getting crypto market structure legislation through Congress. The organization’s community director, Mason Lynaugh, told Cointelegraph in November that how lawmakers vote on the bill could impact their re-election chances. Stand With Crypto rates political candidates on a scale of “strongly supports crypto” to “strongly against crypto” depending on their voting records and public statements, which may be used by PACs and organizations deciding where to allocate funds.
Magazine: 10 weirdest things ever tokenized… including farts
On Thursday, the Republican-led committee voted 8-7 along party lines to advance the contempt resolution.
Here’s what to know about what that vote means, and what might come next for Fauci.
What does it mean to be held in contempt of Congress?
Contempt of Congress is a federal misdemeanor in which an individual willfully disobeys or impedes a congressional investigation.
A contempt of Congress charge may be levied against someone if they fail to appear before a committee after being subpoenaed, refuse to produce required documents, or refuse to answer questions related to an investigation.
Congress does not hold the power to prosecute or convict someone of the crime; instead, the House or Senate can vote to approve a resolution finding a person in contempt and refer the matter to the executive branch for prosecution.
What comes next after the Senate committee vote?
Under Senate procedure, following a panel vote to approve a contempt resolution like the one on Thursday, the measure then heads to the full chamber for a vote. If it passes there, the case is certified and sent to the Department of Justice (DOJ).
Crypto World
Southeast Asia’s Next Growth Engine Runs on AI Infrastructure, United Overseas Bank Says
Artificial intelligence (AI) has stopped being a technology story in Southeast Asia and has become an economic growth engine, according to United Overseas Bank (UOB) executives speaking at the ASEAN Conference 2026.
The opportunity lies less in adopting AI tools than in building the physical infrastructure that makes them possible.
Where the Data Center Capacity Is Going
A hyperscaler is a company that operates data centers at a massive scale, typically a cloud provider serving global computing demand. Those firms are now accelerating capacity across the region.
Malaysia has captured much of the recent growth. Thailand, Indonesia, and Vietnam are also expanding aggressively as investment spreads across the region.
Singapore faces different constraints entirely. Long the premium hub, it now faces land and energy constraints that have prompted spillover effects on neighboring markets.
The numbers illustrate the scale. Industry trackers show Southeast Asia already hosts dozens of AI-focused facilities with several gigawatts of operational and planned capacity.
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Projections point sharply higher. Wood Mackenzie estimates data-center power demand could quadruple from 2.6 gigawatts in 2025 to 10.7 gigawatts by 2035.
A separate report reinforces that trajectory. The e-Conomy SEA 2025 study by Google, Temasek, and Bain estimates over 4,600 megawatts of new capacity in the pipeline. That expansion implies roughly 180% capacity growth, faster than the rest of Asia-Pacific.
The build-out demands more than servers and chips. Reliable power, advanced cooling, land, and robust grid connections all form essential components.
Capital requirements are correspondingly large. UOB’s Edmund Leong estimated that roughly $150 billion could flow into regional energy infrastructure over the next five years.
The Bottlenecks That Could Slow It Down
That figure spans multiple categories. Renewables and broader energy-transition projects both feature prominently in the projected investment. The dependency runs both ways. Without adequate energy and grid upgrades, the entire AI opportunity risks being constrained regardless of demand.
Financial institutions occupy a pivotal position. Banks with regional footprints mobilize loans, bonds, and equity while facilitating cross-border capital flows. Their role extends beyond financing. Those institutions connect developers with regulators, utilities, and telecom providers across multiple jurisdictions.
Selectivity matters considerably. Not every project proves bankable, and success depends on operators with technical expertise, committed shareholders, and long-term vision. Bottlenecks remain genuine obstacles. Power availability and semiconductor supply both constrain how quickly capacity can materialize.
Market dynamics offer some relief. Demand should eventually spur supply-side responses, gradually lowering costs and improving efficiency. Execution determines outcomes. Translating infrastructure investment into measurable results requires clear strategies, governance, and workforce readiness.
The potential prize justifies the attention. Southeast Asia’s digital economy should exceed $300 billion in gross merchandise value, with AI potentially adding up to $1 trillion to regional GDP by 2030.
Funding patterns reveal an interesting split. Equity concentrates in Singapore, while physical construction is dispersed, with Malaysia alone attracting tens of billions in commitments.
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The post Southeast Asia’s Next Growth Engine Runs on AI Infrastructure, United Overseas Bank Says appeared first on BeInCrypto.
According to the complaint, Allman appointed herself to the board, adopted an interim policy allowing ordinary business operations to continue, reaffirmed De Bode as president and requested basic corporate information, including a shareholder list, while expressing a desire to work collaboratively.
The estate said those efforts failed after De Bode and the company’s outside counsel refused to recognize her actions or provide the requested corporate records. Kathleen Allman subsequently expanded the board, appointed new directors and, at a July 24 board meeting, voted to remove De Bode from all company positions while appointing herself chair and interim CEO.
The filings characterize Kathleen Allman’s leadership as transitional rather than permanent, arguing that her objective is to stabilize governance while the board searches for Nathan Allman’s long-term successor and ensure the business continues operating without interruption.
The estate is seeking an expedited ruling because uncertainty over who controls the company could affect contracts, expenditures, equity issuances and other corporate decisions, the filings said.
The court has not ruled on the allegations, and the filings reflect only the estate’s version of events.
The Ondo Board of Directors said in a separate emailed statement that it “remains committed to our founder Nate Allman’s belief that onchain markets are the future of finance. We are focused on serving our community without interruption, and empowering our people to maintain our momentum, as we search for his successor.”
Fairshake-affiliated political action committee groups have reported fresh ad spending aimed at congressional races in several states after a loss in Michigan earlier this week, according to Federal Election Commission (FEC) filings.
As of Thursday, Defend American Jobs and Protect Progress—two Fairshake-connected entities—disclosed more than $1.5 million combined on media advertising supporting candidates in Florida, Alaska, and Wyoming. The spending comes shortly after Protect Progress suffered a primary setback in Michigan’s 13th district, following more than $2 million in earlier advertising for the candidate who ultimately lost.
Key takeaways
- Fairshake PAC affiliates Defend American Jobs and Protect Progress reported spending over $1.5 million on election ads in Florida, Alaska, and Wyoming, per FEC filings.
- Alaska’s at-large district: Defend American Jobs spent more than $500,000 supporting Rep. Nick Begich ahead of a primary scheduled for Aug. 18.
- Florida and Wyoming races were also targeted, including spending for Republican candidates running in primaries set for Aug. 18.
- The new ad activity follows a Michigan primary loss for a Protect Progress-supported candidate, after the group spent more than $2 million earlier.
- The spending underscores ongoing efforts by Fairshake and crypto-aligned groups to influence U.S. politics around proposed market-structure legislation.
Fairshake affiliates pivot to other primaries
Federal Election Commission disclosures show that Fairshake-linked entities Defend American Jobs and Protect Progress—cited in the FEC records as PAC affiliates—spent a combined $1.5 million on ads backing both Republican and Democratic candidates.
In Alaska’s at-large congressional district, Defend American Jobs spent more than $500,000 on media supporting the re-election of Representative Nick Begich. The filings also show roughly similar levels of advertising for GOP candidate Sydney Gruters in Florida’s 16th district and for Representative Harriet Hageman, who is running for a Wyoming Senate seat expected to be vacated by Cynthia Lummis.
Florida’s 16th district, Alaska’s at-large contest, and the Wyoming Senate race all face primaries scheduled for Aug. 18, according to the reporting described in the article.
Michigan loss highlights the stakes for crypto-backed advocacy
The new expenditures follow a primary loss in Michigan’s 13th Congressional District. Earlier this week, Democratic incumbent Shri Thanedar lost a primary to State Representative Donavan McKinney after Protect Progress had spent more than $2 million on media supporting Thanedar, the earlier coverage cited in the article notes. Thanedar’s current term ends in January 2027.
For crypto-aligned PAC operations, the contrast between large ad buys and outcomes in primaries is a reminder that political advertising is not a guaranteed lever—even for well-funded groups. The Michigan result also illustrates how quickly spending strategies can shift once a race turns unexpectedly.
Who received support—and how voting records factor in
On the Democratic side, Protect Progress reported spending more than $50,000 on media supporting Lois Frankel’s re-election in Florida’s 23rd district. The article states that Frankel, Begich, and Hageman all voted in favor of the GENIUS Act and CLARITY Act while serving in Congress.
By contrast, the filings discussed for Sydney Gruters did not indicate public crypto-related positions beyond participation in a questionnaire process overseen by the advocacy organization Stand With Crypto. According to the article, Gruters stated in that questionnaire that she supports the crypto market structure bill.
That distinction—between candidates with clear legislative voting records on one hand and candidates whose support is supported primarily by advocacy questionnaires on the other—helps explain why crypto-aligned groups may tailor messaging and funding even when the broader policy objective is the same.
Campaign spending ramps up around market-structure bills
The reported expenditures fit into a broader pattern of election-focused activity by Fairshake and groups aligned with the cryptocurrency industry. The article notes that in the 2024 election cycle, Fairshake-related spending reached more than $170 million across House and Senate races, potentially influencing the composition of the current Congress.
Just as importantly, the article frames these ad buys in the context of crypto market-structure legislation—particularly the Digital Asset Market Clarity (CLARITY) Act—whose future congressional action could shape how industry groups approach the 2026 midterms.
While it was unclear as of Thursday whether the U.S. Senate would vote on the CLARITY Act before a month-long recess, the way lawmakers cast votes on the bill could determine whether crypto-aligned organizations actively back or oppose particular candidates ahead of re-election contests.
The article also points to earlier outreach from Stand With Crypto in which it described a “primary goal” for 2026: advancing crypto market structure legislation. It further notes that Stand With Crypto rates political candidates based on their record of support or opposition, using public statements and voting history—information that PACs and allied groups may rely on when deciding where to allocate resources.
What to watch next in U.S. crypto politics
With primaries on Aug. 18 and the CLARITY Act’s potential Senate vote still uncertain, investors and builders in the crypto space may want to track not only which candidates are winning races, but also how congressional voting records and public commitments evolve—since those signals may influence how aggressively Fairshake-linked groups and crypto-aligned organizations deploy funding into the 2026 election cycle.
Robinhood Chain's decentralized exchange volume fell 72.5% between its Jul. 11 peak and Aug. 1, but every other headline metric on the chain kept climbing through the drop. While transactions, total value locked and stablecoin supply are all at record highs, the size of the average trade collapsed…. Read the full story at The Defiant
Volunteer developers filed 4,962 security findings across 390 Bitcoin projects in about 30 hours. Of the 391 codebases they reviewed, exactly one came back clean.
The group calls itself the Bitcoin Red Team. It rated 720 of those findings high or critical. Only 147 have reached the maintainers who have to fix them.
Every 1 in 7 Findings is Serious
The severity split is narrower than the raw total suggests. Reviewers logged 85 critical issues and 635 high ones.
That works out to 14.5% of everything filed. The rest sit in medium, low, or informational buckets. Another 246 findings carry no severity label at all.
Evidence quality varies too. About 21.4% came with working proof-of-concept code. Roughly 91% arrived through automated scanning. Reviewers retired just eight as false positives.
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One Hour Produced 83% of the Findings
The 30-hour framing needs a caveat. A single hour absorbed 4,101 findings. That spike was a backfill, not live scanning. Rob Hamilton, chief executive of Bitcoin insurer AnchorWatch, ran his own review before the campaign formally began.
He said he spent over $10,000 scanning more than 100 libraries.
Strip the dump out, and the pace changes sharply. Roughly 840 findings were received over the other 29 hours. That is closer to 29 an hour than the 166.3 the report advertises.
The Data Points Away From Hardware Wallets
The category breakdown carries a surprise. Hardware wallets and firmware, the group Coldcard belongs to, ranked second lowest for serious flaws at 9.6%.
Other corners fared worse. Mining pools hit 21.7%, infrastructure and tooling 21.5%, and swaps and exchanges 20.9%. Privacy tools topped the table at 24%, though reviewers covered only three of them.
Crypto libraries carried the volume instead. They produced 1,385 findings across 128 projects, more than a quarter of the corpus.
Calle, the pseudonymous physicist who created the Cashu ecash protocol, said maintainers are confirming the worst reports.
Most of the critical reports we’ve made so far were quickly verified by project owners. We know we’re hitting real targets,” they wrote.
Why the Red Team Formed After Coldcard
The sweep began because of one broken chip. Coinkite disclosed on July 30 that seed generation on affected Coldcard devices fell back to a predictable software routine.
The shortfall was severe. Only 32 bits came from the secure element, capping an attacker’s search at about 4.3 billion guesses.
Galaxy Research pegged confirmed thefts at 1,596 Bitcoin (BTC) from roughly 7,300 addresses on Aug. 4. A suspected fourth attack wave would bring the total to nearly $130 million. Galaxy stresses its address list is not definitive.
The panic showed up on-chain, where active addresses spiked to a 20-month high. Korean holders largely escaped because dice-based seeds are common there.
Weak randomness keeps returning in Bitcoin, however. The 2023 Milk Sad bug seeded Libbitcoin Explorer keys from 32 bits of clock time. In May, the Ill Bloom vulnerability drained $5.7 million from wallets built on a weak JavaScript generator.
Funding Follows the Findings
OpenSats, a nonprofit that funds Bitcoin development, launched a Code RED grant track on Thursday. It pays researchers who disclose flaws. It also refunds the artificial intelligence (AI) bills the work runs up.
Meanwhile, Bitcoin traded near $64,396 on Thursday, up 0.5% over 24 hours. The audit has not moved the market.
Context still matters for the raw number. These are findings, not confirmed exploits, and most will never be weaponized.
On the evidence so far, though, Coldcard was not an isolated failure. The data also suggests the next one will not be a hardware wallet.
The post Bitcoin Network Warning: Developers Find Nearly 5,000 Vulnerabilities appeared first on BeInCrypto.
Six separate forces must align for Bitcoin to double from here. Google Gemini AI predicts they will, and its price prediction calls for $120,000 to $150,000 before 2026 closes.
Accelerating global M2 money supply growth tops that list. Central bank interest rate cut cycles follow close behind.
Then comes the delayed supply squeeze from the post-halving issuance deficit. New coins arrive more slowly while demand keeps building.
Expanding institutional spot ETF allocations add steady bid pressure. Emerging momentum in sovereign strategic reserves brings a buyer class that did not exist a few years ago.
Impending legislative clarity on the market is the final piece. Gemini treats the combination as a confluence rather than any single trigger.
The bear scenario is framed as minor. Inflation sticky enough to delay rate cuts would remove the monetary tailwind entirely.
Unexpected regulatory enforcement friction could do similar damage. Temporary spot ETF net outflows round out the risks.
Any of those stalling momentum would test a deeper support zone around $48,000 to $55,000. Gemini AI still argues that leverage has largely been flushed out already.
Long-term institutional holders continue absorbing sell pressure. That skews structural risk and reward toward aggressive expansion into new high-water marks.
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Bitcoin Price Prediction: Six Tailwinds And The Question Of Whether Bitcoin Waits For Them
The daily chart tells a rougher story than the forecast. Bitcoin peaked near $126,000 in October and lost ground for months. February brought the violent part of the decline. Price broke from roughly $90,000 down to $60,000 in a matter of weeks.
Spring produced a genuine recovery attempt toward $82,000 by May. June erased it, dragging Bitcoin back near $58,000.
Since then, the market has carved out a base. July and August have formed a series of higher lows with little conviction on the upside.
The latest close is $64,858, up 1.25% and $801 on the day. The session ranged from $63,820 to $64,862. Support sits at $60,000 first and $58,000 at the June floor. Resistance shows up at $68,000, then $72,000 and $76,000.
RSI reads 54.39 with its signal line at 49.58. The 5-point gap places momentum slightly on the bullish side of neutral. Both readings sit near the middle of the range. Nothing here suggests exhaustion in either direction.
Gemini needs roughly a double from this base. The chart is not there yet, though a monthly close above $68,000 would be the first real evidence.
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Reading the chart is free. Backing the call costs something, which is exactly why the odds on Kalshi tend to move before the headlines do.
It’s a CFTC-regulated exchange for event contracts: the Fed, inflation, crypto price levels, resolved against a defined source. Being right on a slow timeline still loses if the contract expires first, so mind the dates.
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Analyst Crypto Patel said on August 6 that Lido DAO’s LDO token could recover more than 1,700% after falling nearly 94% from its previous all-time high.
The market watcher believes LDO is sitting in a high-risk accumulation zone but warned that the token’s bearish structure remains intact until it reclaims major resistance levels.
LDO Tests Multi-Year Support After Heavy Sell-Off
Crypto Patel’s analysis on X placed LDO inside a long-term demand area after its decline from the previous cycle peak near $4.
“Everyone Forgot About $LDO After A -94% Crash,” he wrote. “The Long-Term Recovery Potential From Here Could Exceed 1,700%.”
The token is currently trading around $0.29, close to the analyst’s proposed accumulation zone between $0.275 and $0.24.
He said that LDO is still inside a multi-year descending channel, with price action still showing lower highs and lower lows. A weekly close below $0.23 would invalidate the current setup, while a move above $0.47 would be needed to signal a possible trend change.
The token’s recent weakness has been linked to concerns around Ethereum’s proposed EIP-8361. Developer Jerome de Tychey said on August 5 that the proposal aims to prevent staking from rising without limits.
Analyst Ted Pillows suggested that LDO’s decline was likely connected to fears that lower ETH fstaking rewards could reduce demand for liquid staking tokens such as stETH.
“$LDO is selling off because of concerns around Ethereum’s EIP-8361 proposal,” Pillows wrote on X.
He added that the proposal is still an early draft and has a long process before any possible implementation.
Lido has also had to deal with changing conditions across Ethereum staking. As CryptoPotato reported last month, the platform started moving around $16 billion worth of staked ETH onto larger post-Pectra validators, with the idea being that Lido’s curated node operators stop running thousands of identical 32 ETH validators and collapse them into fewer, bigger ones.
Case for a Longer-Term Bottom
LDO is currently about 25% above the $0.235 low it hit on June 25, a level that replaced its previous floor and now marks the bottom of its five-year trading history since launching in 2021 at an all-time high near $7.30.
In the last seven days, it has fallen close to 18% and is down roughly 27% over the past two weeks, according to CoinGecko. Furthermore, trading volume sits near $50 million, down 43% from the previous day.
The bullish case hinges on LDO reclaiming $0.47 on a weekly closing basis, a level that flipped from support to resistance after a breakdown in 2024. From there, Crypto Patel maps out targets at $1.50, $2.50, and eventually back toward the token’s old cycle high near $4, the move that would produce the kind of gain he’s describing. He points to Lido’s continued lead in Ethereum liquid staking and the shrinking token supply left to unlock as reasons the setup could work if ETH climbs back above $3,000.
The post Analyst Predicts 1,700% LDO Rally From Long-Term Support appeared first on CryptoPotato.
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