BNB price traded near $605 on Aug. 10 after reclaiming the psychological $600 level, with improving momentum and nearby liquidation clusters raising the prospect of another short squeeze.

BNB reclaims $600 after its July recovery

According to data from crypto.news, BNB (BNB) price extended its recovery on Aug. 10, trading around $605 after reaching an intraday high near $606.84. The token has now moved above $600, a level that repeatedly limited gains during the previous sessions.

The daily chart shows BNB recovering from a late-June low near $540. Buyers gradually returned through July before accelerating the move during the first 10 days of August. The price has gained roughly 12% from the June bottom and is attempting to establish a higher-high structure.

Momentum has also improved. The daily Relative Strength Index rose to 65.15, above its signal average of 57.52. An RSI reading below 70 suggests that buying pressure is increasing, but BNB has not yet entered technically overbought territory.

Still, the move has not produced a decisive breakout. BNB remains near a group of resistance levels between $605 and $610, where repeated intraday rejections show that sellers remain active.

Moving averages support the rebound, but volume lags

The latest advance appears primarily technical. BNB has reclaimed its 20-day and 50-day moving averages, currently positioned near $583.47 and $575.50, respectively. Both levels now sit below the market and could provide support during a pullback.

BNB is also testing its 100-day moving average near $604.85. A sustained daily close above this line would strengthen the recovery case and shift attention toward the 200-day moving average at $628.51.

The 4-hour chart supports the short-term bullish setup. BNB remains above the Supertrend indicator, which has moved up to $593.86. The indicator flipped bullish in late July and has continued to track the price higher.

The Moving Average Convergence Divergence indicator remains positive, with the MACD line at 3.30 and the signal line at 3.13. However, the histogram has narrowed to 0.17, suggesting that upward momentum is slowing as BNB tests resistance.

Thin follow-through therefore remains a risk. A lack of stronger buying volume could keep the token within its current range even if it continues to hold above $600.

Liquidation clusters put $623 within reach

BNB’s immediate resistance sits between $606 and $610, covering recent intraday highs. A 4-hour close above $610 could clear the latest supply zone and open a path toward the first major liquidation cluster around $618–$620.

The 3-day liquidation heatmap shows an even larger concentration of leveraged positions near $622–$623. If BNB breaks $610 with increasing volume, forced closures of short positions could accelerate the move into this zone.

Beyond that, the 200-day moving average at $628.51 represents the main daily resistance. Additional liquidity appears near $630 and $635, making the broader $628–$635 region a difficult area for bulls to clear.

On the downside, the closest liquidity pool is around $598. That level sits just below the psychological $600 mark and could attract price during a short-term correction.

The Supertrend at $593.86 provides the next support. Losing that level would weaken the 4-hour structure and expose the 20-day moving average at $583.47. The 50-day moving average near $575.50 would become the deeper invalidation level for the current recovery.

Analyst maps a longer-term path toward $780

Crypto commentator DongPham said BNB has recorded three constructive weekly closes but remains in a broader retracement after losing a long-term uptrend around $673 in February.

The analyst identified $780–$790 as a possible longer-term retest area. Reaching that target would require BNB to first reclaim the $628–$635 resistance zone and then break above the former trend level near $673.

DongPham also noted that trading volume had not increased alongside the latest recovery. That divergence matters because a price rise without stronger participation may struggle to continue through multiple resistance levels.

The short-term charts support a more measured target. BNB first needs to hold $600 and close above $610 before the liquidation clusters at $618–$623 become attainable. The $780–$790 projection remains a longer-term scenario rather than an immediate target.

Losing $594 could invalidate the bullish setup

For US traders, BNB remains sensitive to broader moves in Bitcoin, Ethereum and global risk assets. Changes in US interest-rate expectations, Treasury yields and the dollar can affect demand for higher-risk crypto assets even when BNB’s immediate setup is driven by technical levels.

BNB also carries exchange-specific risk because of its close association with the Binance ecosystem. Its availability and liquidity can differ across US trading platforms, so American investors may face different spreads and execution conditions from traders using global exchanges.

The short-term bias remains constructive while BNB stays above $593.86. A confirmed break above $610 could trigger a move toward $618–$623, while failure to defend $598 would put the current breakout attempt at risk.

USD/JPY finds itself at the centre of one of the most dramatic currency stories this summer. Having weakened to a four-decade low near ¥164, the yen was pulled back sharply after Japan and the US carried out a coordinated intervention, with Tokyo reportedly spending around $34 billion in a single session to defend its currency. The move briefly pushed the pair toward ¥155, though the yen has since given back some of those gains, trading back near ¥158 as doubts persist over how long intervention alone can hold.

The underlying driver remains the wide gap between US and Japanese interest rates, made worse by rebounding oil prices following renewed tensions in the Strait of Hormuz. Markets are now watching for a possible BoJ hike in September, encouraged by six straight months of rising real wages, while the Fed’s own July dissents—three policymakers pushed for a hike over a hold—keep US rates firmly in the driver’s seat too.

With both central banks now genuinely in play, USD/JPY’s next move looks set to hinge on which side moves first: Tokyo’s rate decision, or Washington’s next data-driven signal.

Technical Analysis of USD/JPY

As the USD/JPY chart shows, the pair collapsed sharply after the coordinated intervention, dropping from the 163.76 highs to a low near 155.21 before staging a steady recovery. Price is now testing the 0.382 Fibonacci retracement near 158.48, supported by an ascending trendline off the intervention low, with the RSI showing a bullish divergence as it prints higher lows even as price briefly retested the range.

Bullish Scenario

Should buyers hold the ascending trendline and break decisively above the 0.382 retracement, the path would open toward the 0.5 level near 159.49, with a stronger move targeting the 0.618 retracement around 160.50, where deeper resistance likely awaits.

Bearish Scenario

Conversely, a break below the ascending trendline would invalidate the current recovery structure, exposing a retest of the intervention low near 155.21-156.00, with the RSI divergence losing credibility if price fails to hold this zone.

With price coiled right at the 0.382 confluence, and both the trendline and RSI hinting at renewed strength, USD/JPY looks set for a decisive move—will the recovery from intervention extend, or will Tokyo’s defence prove only temporary?

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Standard Chartered’s Geoff Kendrick has outlined a bullish long-term scenario for Chainlink’s LINK token, arguing that the accelerating rollout of tokenized real-world assets could significantly expand demand for secure onchain data infrastructure.

In a Monday report shared with Cointelegraph, Kendrick suggested tokenized assets reaching $4 trillion by the end of 2028 could translate into a more than 25-fold increase in LINK by the end of the decade—potentially pushing the token toward $200 by 2030, compared with roughly $8 at the time of the analysis.

Key takeaways

• Standard Chartered forecasts tokenized real-world assets could reach $4 trillion by end-2028, which the report links to increased onchain data needs.
• Kendrick argues that securely bringing external data onchain at scale may raise Chainlink’s fee generation, supporting an end-2030 outlook of $200 for LINK.
• The bank also projected a 37-fold rise in tokenized and crypto-native assets deployed in DeFi, reaching $2.7 trillion by 2030.
• Cointelegraph notes that tokenized RWA trading on decentralized exchanges reached a new all-time high of $141 billion in July, according to CryptoRank data.
• Standard Chartered flagged several risks to its LINK price view, including slower institutional tokenization, competitive pressure from other oracle providers, and potential technical issues.

Why tokenized assets could boost oracle demand

Kendrick’s thesis centers on a practical bottleneck: as tokenized real-world assets move onto blockchains, the ecosystem increasingly depends on reliable, permissioned, and verifiable information to function correctly onchain.

According to the report, tokenized assets will require “external data” to be brought securely onchain. Kendrick linked this to potential increases in Chainlink’s fee generation, suggesting that the LINK token could benefit if tokenized asset growth translates into broader network usage.

The bank’s onchain growth scenario for DeFi and tokenization

The report does not focus solely on tokenized RWA volumes. It also points to broader DeFi expansion, forecasting a 37-fold increase in tokenized and crypto-native assets deployed in decentralized finance—rising to $2.7 trillion by the end of 2030.

To support that kind of growth, Kendrick argued these assets will need more than just tokenization mechanics. The report highlights requirements including trusted data sourcing, interoperability between networks, privacy-preserving compliance, and integrations with existing financial systems.

In Kendrick’s view, meeting these needs is a capability currently embodied by Chainlink—an argument framed around the role of decentralized oracle infrastructure and the practical integration of offchain information into onchain applications.

Market momentum: tokenized RWA activity on DEXs keeps rising

The bullish framework arrives as tokenized RWA trading activity appears to be gaining traction in public markets.

Cointelegraph cited CryptoRank data showing tokenized RWA trading on decentralized exchanges reached a new all-time high of $141 billion in July. The same dataset was described as representing a 19.5% month-over-month increase, with public equities listed as a major driver.

That growth aligns with the report’s underlying premise: if more tokenized products—particularly those tied to traditional financial instruments—are actively traded onchain, the ecosystem’s dependency on secure and interoperable data workflows tends to rise in parallel.

Chainlink’s competitive positioning and the risks to the forecast

Standard Chartered’s bullish conclusion also builds on Chainlink’s standing in the oracle sector.

The report referenced crosschain oracle infrastructure metrics compiled by data aggregation services. Cointelegraph notes that Chainlink is ranked as the leading decentralized oracle provider for crosschain communication, citing $34.4 billion in total value secured, while Chronicle is listed second with $7.36 billion, according to DefiLlama’s oracle data.

Even with that positioning, Kendrick’s report included explicit caveats. Standard Chartered said risks to its LINK price forecast include slower-than-expected institutional tokenization initiatives, competition from specialist oracle providers, and potential technical setbacks that could affect performance or adoption.

What investors should watch next

Whether LINK reaches the kind of valuation implied by Standard Chartered’s end-2030 outlook will depend on how quickly real-world asset tokenization scales beyond pilots, and whether oracle infrastructure sees sustained fee growth alongside rising onchain trading and DeFi deployment. Readers should monitor both RWA adoption metrics and signs of intensifying oracle competition or execution risk.

The U.K.’s financial watchdog is preparing rules for tokenized gold as part of its digital asset strategy to ensure London maintains its status as the top global hub for the trade of the precious metal.

The Financial Conduct Authority (FCA) approached financial institutions to explore tokenized gold regulations to foster market growth, the Financial Times reported Monday, citing people familiar with the plans.

London’s over-the-counter market (OTC) market has historically ranked as the number one center for gold trade and currently accounts for 70% of the world’s notional trading volume, according to the World Gold Council. However, London’s dominance is being increasingly challenged by China.

The tokenization of gold is the process by which digital tokens are created to represent ownership rights in physical gold, with the token issuer holding the gold as backing.

The FCA, which has also discussed digitizing the wholesale financial markets, is seeking feedback on the role tokenized gold could play as collateral in wholesale markets and is expected to announce progress on drafting new rules for tokenized digital assets within the next few months, the report said.

The regulator had not responded to CoinDesk’s request for further comment at press time.

Crypto exchange Coinsbuy lost more than $8 million in a coordinated attack across TRON and Ethereum on Aug. 9, according to onchain data reviewed by blockchain security researchers.

The attacker began with a 5 USDT transaction before draining eight TRON wallets of 6.04 million of the dollar-pegged stablecoin in about an hour. On Ethereum, three wallets were simultaneously emptied of 1.89 million USDT and 77 ETH, which was swapped to ETH via 1inch through a wallet created the same day.

Onchain records show the two chains were linked through cross-chain swapper Bridgers, whose Ethereum payout contract sent funds directly into the Ethereum swap wallet, connecting what appeared to be separate operations into a single incident.

The attacker routed some 79% of the stolen funds through instant exchange FixedFloat using roughly 50 single-use addresses. ChangeNOW separately froze a six-figure sum after being contacted by Specter Investigations.

Around 282 ETH, roughly $542,000, across five addresses remains unmoved.

A vice chancellor in the Delaware Court of Chancery has removed the protection of anonymity for a list of stockholders in BTC treasury company, Empery Digital, which has seen its stock price crash 72% over the past year.

The action accelerates an already expedited lawsuit by plaintiff ATG Capital, which resorted to legal action as Empery Digital’s stock and BTC prices cratered.

One year ago, its stock price was $10 and the company held 4,018 BTC at an average cost of $117,552 apiece. On Friday, its stock price was $2.84 and each of those BTC are now worth approximately $65,000.

As of August 6, it reported holdings of just 1,279 BTC, a decline of 68%, after the company sold several times on the way down and finalized tens of millions of dollars worth of losses.

Today, this so-called BTC treasury company is worth less than the BTC it holds.

Last week, a vice chancellor decided who gets to see the names of Empery Digital stockholders that activist fund ATG is using for leverage to replace board seats at the company.

It redacted a list of stockholder names it had assembled for its initiative, calling it a “protected business strategy.” Vice Chancellor Lori W. Will disagreed, saying, “The names of stockholders are not, in and of themselves, a business strategy.”

The order forces ATG to reveal its list to Empery’s counsel, although the names will remain obscured from public view for now. The vice chancellor allowed ATG to maintain the list’s designation as “highly confidential,” which confines its disclosure to parties within the litigation.

Bitcoin treasury firm Strategy (MSTR) had raised $108.6 million last week through the sale of 1,690 bitcoin and an additional $653.1 million from the sale of 6.59 million shares of common stock, according to a Monday filing.

The company used the bitcoin sale proceeds to repurchase 1,152,020 shares of its variable-rate preferred stock, STRC, for $108.6 million.

The bitcoin sales reduced Strategy’s holdings to 840,447 BTC, acquired for $63.36 billion at an average price of $75,385. The 1,690 bitcoin were sold at an average price of $64,262, net of fees and expenses.

Strategy directed $650 million of the proceeds from its common-stock sales to its USD reserve, lifting the balance to $4.65 billion as of Aug. 9. The remaining $3.1 million was added to the company’s cash balance.

Following the latest transactions, Strategy has $785.2 million remaining under its preferred-stock repurchase program and $1 billion available under its MSTR common-stock repurchase program.

MSTR and STRC are both up 0.5% in Monday pre-market trading, with bitcoin changing hands near $65,000.

Key takeaways

• Ethereum trades near $1,918 with a mildly bullish short-term outlook.
• ETH holds above the 50-day EMA at $1,864 but remains capped by the 100-day EMA near $1,924.
• The RSI at 56 signals steady buying momentum without overbought conditions.

Ethereum consolidates near $1,918

Ethereum (ETH) trades around $1,918, maintaining a mildly constructive outlook as buyers defend the area above its 50-day Exponential Moving Average (EMA).

The second-largest cryptocurrency is currently caught between the 50-day EMA at approximately $1,864 and the 100-day EMA near $1,924. This narrow range reflects an ongoing battle between buyers seeking to extend the recovery and sellers defending the longer-term resistance level.

Ethereum’s ability to hold above the 50-day EMA suggests that traders continue to buy price declines. However, ETH must decisively overcome the 100-day EMA to establish stronger bullish momentum.

ETH buyers defend the 50-Day EMA

The 50-day EMA at $1,864 provides Ethereum’s most important near-term support. ETH’s position above this indicator signals that the short-term trend is improving and that buyers remain active during pullbacks. 

Continued support above the moving average would preserve the possibility of a breakout toward $2,000.

However, Ethereum remains below the 100-day EMA at $1,924. This moving average has emerged as an immediate barrier and could continue to limit the recovery unless trading volume and buying pressure strengthen.

A sustained daily close above $1,924 would provide an early indication that bulls are gaining control.

Ethereum’s momentum indicators support a cautiously optimistic outlook. The Relative Strength Index stands near 56, above its neutral midpoint of 50. 

This reading points to steady bullish momentum while remaining comfortably below the overbought threshold of 70.

The RSI therefore leaves Ethereum with room to advance before the rally becomes technically overstretched.

Meanwhile, the Moving Average Convergence Divergence line remains slightly negative but continues to improve. This setup indicates that bearish momentum is weakening, although it does not yet confirm a fully established bullish trend.

Together, the RSI and MACD suggest that buyers are gradually strengthening their position.

Ethereum faces its first immediate resistance at the 100-day EMA near $1,924. A decisive move above this level could clear the way toward the psychological and horizontal resistance at $2,000. 

This area will likely represent a significant test because round-number levels often attract increased selling and profit-taking.

A sustained breakout above $2,000 would improve Ethereum’s technical structure and bring the 200-day EMA at approximately $2,124 into focus.

The 200-day EMA is particularly important because it serves as a broader measure of the long-term trend. ETH would need to reclaim this level to signal a more significant bullish reversal.

Ethereum’s recovery faces three major overhead barriers:

• The 100-day EMA at $1,924
• The psychological resistance at $2,000
• The 200-day EMA at $2,124

Breaking through $1,924 would strengthen the short-term outlook, while a move above $2,000 could attract additional buying interest.

However, the 200-day EMA at $2,124 remains the broader trend cap. Failure to clear this moving average could leave Ethereum vulnerable to renewed selling pressure after any short-term rally.

The current pivot area around $1,918 provides Ethereum’s initial support. If ETH loses this level, the 50-day EMA at $1,864 would become the next important defensive zone. Buyers must protect this moving average to preserve the constructive short-term structure.

A decisive break below $1,864 could weaken momentum and increase the risk of a deeper correction. In that scenario, the distant horizontal support at $1,385 could eventually come into focus, although intermediate support levels may slow the decline.

For now, Ethereum maintains a mildly bullish bias above the 50-day EMA. A confirmed close above $1,924 is needed to open the path toward $2,000 and potentially the 200-day EMA at $2,124.

Key takeaways

• XRP trades around $1.03 after falling more than 5% during the previous week.
• The token remains below its 50-day, 100-day, and 200-day EMAs, maintaining a bearish technical structure.
• An RSI reading near 39 and a negative MACD signal indicate persistent selling pressure.

XRP trades near $1.03 on Monday, recording a modest rebound after declining more than 5% during the previous week.

Despite the intraday recovery, XRP retains a bearish near-term outlook because it remains below all three major Exponential Moving Averages. Weak momentum indicators also suggest that sellers continue to control the broader price trend.

The $1.00 psychological level is now crucial. Buyers must defend this support to prevent another leg lower, while XRP needs to reclaim the 50-day EMA at $1.10 to improve its short-term outlook.

XRP remains below all major moving averages

XRP currently trades below the 50-day EMA at $1.10, the 100-day EMA at $1.18, and the 200-day EMA at $1.37

Trading below all three moving averages reflects weakness across short-, medium-, and long-term time frames.

The positioning also creates a wide zone of overhead resistance. Any XRP recovery is likely to face renewed selling as the price approaches these moving averages.

The 50-day EMA at $1.10 represents the first major test. A sustained daily close above this level would suggest that short-term momentum is beginning to improve.

XRP’s momentum indicators remain bearish despite Monday’s slight recovery. The Relative Strength Index stands near 39, below its neutral midpoint of 50. 

This reading shows that selling pressure remains dominant, although XRP has not yet entered the conventional oversold zone below 30.

The Moving Average Convergence Divergence indicator is also negative, reinforcing the bearish outlook.

Together, the RSI and MACD suggest that XRP’s rebound may remain limited unless buyers return with stronger trading volume. Any short-term rallies could attract selling while the token remains beneath its major moving averages.

XRP approaches critical $1 support

The psychological and horizontal level at $1.00 provides XRP’s most important immediate support.

Buyers may attempt to defend this area because round-number levels often attract increased demand. Holding above $1 could allow XRP to consolidate and make another attempt to reclaim its 50-day EMA.

However, a decisive daily close below $1.00 would weaken the technical structure and could accelerate selling pressure.

The absence of another specified nearby support means that a breakdown could expose XRP to a deeper correction as traders search for the next demand zone.

XRP must break above the 50-day EMA at $1.10 to begin reversing its bearish short-term trend.

The move from $1.03 to $1.10 would require a gain of nearly 7%. Clearing this moving average could encourage buyers to target the 100-day EMA at $1.18.

If XRP breaks above $1.18, the horizontal resistance at $1.30 would become the next upside target.

However, each of these levels could attract profit-taking and renewed selling, making a sustained recovery dependent on strong demand and improving momentum.

The 200-day EMA at $1.37 represents XRP’s most substantial technical barrier. This moving average serves as an important gauge of the broader trend. XRP would need to reclaim it to signal a meaningful shift away from its long-term bearish structure.

Beyond $1.37, the next major resistance is located around $1.90. However, this target remains distant while XRP trades below its nearer moving-average barriers.

For now, the more immediate recovery path runs through $1.10, $1.18, and $1.30.

XRP’s technical outlook remains bearish despite its modest recovery to $1.03. The token’s position below all major moving averages and its weak momentum indicators suggest that sellers retain control. The $1.00 support level will determine whether XRP can stabilize or faces another wave of losses.

Holding above $1 could support consolidation and a recovery toward the 50-day EMA at $1.10. Conversely, a decisive breakdown would confirm renewed bearish momentum and increase the risk of a deeper correction.