XRP’s price has remained under pressure, alongside the choppy price action seen across other major crypto assets. It has struggled throughout the summer, shedding almost 30% since mid-May.

But the slump hasn’t stopped whale wallets from growing.

Biggest Wallets Are Quietly Growing

According to Santiment’s latest analysis, the number of wallets holding at least 1 million XRP has increased by 32 over the past three months, while the market cap has declined by 29%. At the same time, Ripple’s stablecoin, RLUSD, has grown into a meaningful institutional stablecoin. The firm’s payments, custody, and tokenization rails also continue to keep the XRP Ledger tied to settlement use cases.

Santiment said that the rising million-XRP wallets alongside a falling market cap indicate stronger holders are absorbing panic, and added,

“Patience is replacing simple price-related hype, and future volatility becomes more interesting for bulls.”

Zooming out, XRP is now in extremely oversold territory. According to Ali Martinez, fresh buy signals are now appearing. Earlier this week, the analyst reported that large investors bought more than 380 million units in seven days, worth nearly $400 million at the time.

Such accumulation could reduce the supply available on the market and support prices if demand holds steady or rises. It could also attract smaller investors. The monthly TD Sequential also flashed a buy signal. Similar setups had previously preceded major price increases.

Meanwhile, market watcher CR87 said XRP is at a “critical level.” The price risks falling toward the $0.50-$0.60 range if $1.03 fails. For bulls, on the other hand, reclaiming $1.47 would be the first sign of strength. Along similar lines, X user Diana also predicted more downside if the token breaks below the $1 level. The downside target in that scenario is $0.86. However, a strong reaction around $1, followed by a move back above $1.036, could weaken the bearish outlook.

A Sharp ETF Slowdown

On the institutional front, US-based spot XRP ETFs attracted a total of $1.17 billion between November and December 2025. However, that momentum has weakened in recent months. The products drew just $15.59 million in January. In the following month, the figure nearly quadrupled to $58.09 million. March then saw the first monthly outflow of $31.16 million.

Performance remained mixed from April to July 2026. The funds brought in $81.6 million in April and $132 million in May after the CLARITY Act cleared the Senate Banking Committee. That slowed to $59.46 million in June and $27.29 million in July. So far in August, they have attracted just $1 million.

The post Ripple’s (XRP) Summer Slump Isn’t Stopping Large Wallets From Growing appeared first on CryptoPotato.

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Solana (SOL) came within five percentage points of a full network halt on Wednesday morning. One routing glitch at one hosting company knocked 28.83% of all staked SOL offline in minutes.

Almost nobody noticed. Staking platform Marinade Finance reconstructed the incident and found the network got 86% of the way to the 33.34% line where Solana stops finalizing transactions.

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How One Bad Route Nearly Halted the Solana Network

The fault began at Teraswitch, a hosting provider popular with Solana validators. A broken route left its Miami site, then spread through an internal relay in Amsterdam. Twelve sites from London to Tokyo lost their connection. North America never felt it.

“Solana got 86% of the way to a halt this morning and it barely registered anywhere,” Marinade Finance indicated.

Teraswitch found the bug in about 10 minutes. Full recovery took 33. At the peak, roughly 20 million SOL of online stake stood between the network and a freeze.

Around 90 validators went dark. Their combined lost rewards came to 333 SOL, about $25,600 at current prices. Validator bonds will cover that at the end of the epoch.

Solana’s Own Safety Cap Is Already Broken

An autonomous system number (ASN) is the block of internet addresses one network operator controls. One ASN, AS20326, hosts 27.34% of everything staked on Solana. During the fault, 94% of that stake went offline at once.

The Solana Foundation Delegation Program (SFDP), which steers foundation stake to validators, caps any single ASN at 25%. That cap exists for exactly this failure. It is already broken.

Another 14 million SOL dropped in the same minutes on unrelated providers. Marinade could not explain the overlap. Provider labels clearly miss some shared points of failure.

Backup systems failed the test too. Of 74 validators Marinade measured, only three switched to a second site. The rest sat offline until the internet healed. Helius, Solana’s second-largest validator, stayed down all 33 minutes.

Marinade admitted its own numbers look similar, with four ASNs holding two-thirds of the stake it allocates. It now plans tighter caps per ASN and data center, and will publish which validators run automatic failover.

A Near Miss With a Long History

SOL trades near $76.46, up 0.6% on the day. The market shrugged. No user funds were ever at risk, and bonds cover the lost rewards. The worry is structural, not immediate.

Solana has seen this movie before. In November 2022, German host Hetzner kicked 1,000 validators offline and pushed delinquent stake past 20%. Wednesday’s fault went further.

The chain’s last full network halt, in February 2024, ended a 351-day uptime streak and took about five hours to fix. No bond covers that outcome. A halt freezes every SOL holder at once.

The timing stings. Validators are preparing the Alpenglow finality upgrade, due by October, which promises faster confirmations. Speed means little if one provider’s routing table can stall the whole chain.

The open question is whether stake spreads out before the next bad route finds it.

The post Solana Network Nearly Stopped Working Today. Should SOL Investors Worry? appeared first on BeInCrypto.

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The deal would add NEOS’ $30 billion ETF business, including Bitcoin- and Ether-linked income funds, to Goldman Sachs Asset Management.

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BitGo Chief Financial Officer Edward Reginelli will resign effective Sept. 15, the digital-asset infrastructure company disclosed on Aug. 12. In the same announcement, BitGo reported a $19.0 million second-quarter net loss, reversing a $38.3 million profit a year earlier even as revenue climbed… Read the full story at The Defiant

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Boltz’s original founders have stepped down, and an unnamed group of “veteran Bitcoiners” has agreed to take over the suspended Bitcoin swap service, the company said Wednesday. The incoming operators will provide capital and engineering resources, while work to find and fix vulnerabilities is… Read the full story at The Defiant

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Bitget, the world’s largest Universal Exchange (UEX), has launched Project Archimedes, a $300 million institutional capital program for quantitative trading firms, asset managers and market makers.

With the vision of backing minds that move markets, Project Archimedes will support firms at different stages of growth through two programs:

• Capital Provider Program ($100 million): Allocated to accelerate emerging and growing quantitative firms running market-neutral strategies. Bitget will provide capital, with returns shared under an agreed structure and risk framework.
• Interest-Free Lending Program ($200 million): Available to established institutions with mature strategies and existing trading scale. Eligible firms can access interest-free capital by meeting defined trading volume or position requirements, reducing funding costs while increasing the capital available to their strategies.

Institutional trading is entering a period where access to capital, execution quality and risk control increasingly determine which strategies can scale. Arbitrage returns across established crypto markets have tightened as competition has increased, leading quantitative firms to explore market structures such as basis spreads, funding-rate differences and tokenized assets.

“Strong strategies often reach a point where talent is no longer the constraint but capital might,” said Gracy Chen, CEO at Bitget. “Project Archimedes gives capable teams the acceleration it needs to scale, while aligning capital, risk and execution around sustainable performance. Our goal is to boost over fifty projects in the next six months with this capital.”

The program takes its name from Archimedes’ principle that the right fulcrum can move the world. For institutional trading firms, capital provides that fulcrum, while product structure and infrastructure determine how effectively it can be used.

Tokenized US stocks offer one example. Arbitrage opportunities can arise from differences in basis and funding rates across spot and derivative markets. These strategies typically require firms to maintain positions on both sides of a trade, which can tie up margin across separate accounts.

Under Bitget’s Unified Account, eligible rToken spot positions can serve as collateral for derivatives trading without requiring transfers between accounts. This structure allows institutions to maintain tokenized stock exposure while deploying related contract strategies through the same account, improving the use of available capital. Weekend collateral valuation follows the underlying stock’s Friday closing price, providing a fixed reference while traditional US markets are closed.

Project Archimedes will focus initially on market-neutral strategies with established operating histories and measurable risk controls. Participating institutions will undergo strategy assessment, due diligence and drawdown reviews.

The program is structured as a long-term capital cooperation framework with rolling admissions and phased deployment. Bitget Institutional plans to disclose program developments over time, including participation figures, deployed capital and strategy distribution. Product specifications, market-structure research and institutional case studies will provide further insight into how participating firms use capital and trading infrastructure.

Project Archimedes also supports Bitget Institutional’s broader role as a capital partner with market insight, connecting firms with liquidity, unified trading infrastructure and an international institutional network. Through capital allocation and interest-free lending, the program aims to help emerging teams establish stronger foundations and enable mature institutions to convert proven strategies into greater trading scale.

About Bitget

Bitget is the world’s largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 500+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships such as MotoGP™. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.

For more information, visit: Website | X | Telegram | LinkedIn | Discord

Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

The post Bitget Institutional Launches $300 Million Project Archimedes to Back Quant Firms and Asset Managers appeared first on BeInCrypto.

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Bitcoin’s bounce off Tuesday’s low near $63,200 is coming mostly from leveraged futures positioning, not real spot buying, according to CryptoQuant data cited by the analytics account XWIN Japan.

That’s the same setup that preceded April 2026’s failed rally, which is why some analysts are treating the current recovery as fragile until spot demand actually shows up.

Futures Are Leading, Spot Is Lagging

XWIN Japan laid out the numbers plainly: 30-day perpetual futures demand has turned positive again, while on-chain spot demand remains negative. Traders, in other words, are adding leveraged exposure before real spot buying has caught up.

The account pointed to April 2026 as the precedent, when Bitcoin ran from roughly $66,000 to $79,000 on rising futures demand while spot stayed weak, and the rally eventually faded once that leverage unwound.

One difference this time is that US spot Bitcoin ETF inflows have started recovering too. As XWIN Japan put it, “the key question is not simply whether Bitcoin is rising.”

Ki Young Ju, CEO of CryptoQuant, had made a near-identical call earlier in the day: open interest is climbing while on-chain spot demand stays negative, and “a sustainable rally needs both spot and future demand.”

He’d said almost the same thing on April 27, noting that Bitcoin was futures-driven even with ETF inflows and Michael Saylor’s Strategy purchases in play, and that bear markets historically only end once spot and futures demand recover together.

Bitcoin was trading near $64,000 at the time of writing, having oscillated within a 24-hour range of roughly $63,200 to $64,400 per CoinGecko data.

Price Under Pressure, and a Familiar Setup

It’s been a choppy stretch for the asset as it first got turned back at $65,000 earlier this month after the CLARITY Act stalled in the Senate, then rallied a few hundred bucks above that same level on a weak US jobs report last Friday before getting rejected there again on Monday. It slipped as low as the aforementioned $63,200 on Tuesday, a nine-day low, before clawing back some ground.

Zoom out, and the picture softens further: BTC is up only 1.4% across 30 days and still down 46% from a year ago. Its market cap sits near $1.28 trillion, with dominance over the rest of the crypto market just over 57%.

Other traders are watching the same tension play out technically. Glassnode data shows 54.6% of Bitcoin’s supply still sitting in profit even as the price has stuck in the $63,500 to $65,000 band, with the firm treating $65,000 as the level that would need to break before anyone calls a bottom confirmed.

A weekly chart shared separately by trader Titan adds another wrinkle: the same moving-average crossover that preceded Bitcoin’s three prior cycle bottoms, in 2015, 2019, and 2022, has just printed again, with price sitting in the same zone the chart flags as a potential bottoming range.

That lines up with XWIN Japan’s framing regardless: the rebound holds together only if spot buying, ETF flows, and futures demand all turn up together, and if open interest keeps climbing without spot behind it, the setup looks like April all over again.

The post Bitcoin Rebound Faces Risk as Futures Demand Outpaces Spot Buying: Analysts appeared first on CryptoPotato.

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Market analyst Jamie Coutts said x402 daily settlement volume is down 93% year-to-date as a late-2025 testing wave died out.

The decline contrasts with growing infrastructure for AI agents, leaving the protocol’s actual payment activity well behind the expectations surrounding the agentic economy.

x402 Activity Remains Far Below Late-2025 Levels

Coutts posted the assessment on August 12, pointing to a Helios Analytics chart tracking x402 settlement volume from October 2025 through July 2026. The data shows heavy activity during the final quarter of 2025, with several daily peaks approaching or passing $800,000 and $1 million.

That activity did not last. Settlement volume fell steeply after December and remained subdued through most of 2026. The chart puts the seven-day average at around $41,800, while the latest provisional daily figure is roughly $28,400.

The wider figure tells a similar story. x402 volume is down 55% over three months and 93% year-to-date. Yet the one-year figure is still 358 times higher, largely because activity was starting from a very low base.

Coutts described the numbers as a “reality check” for claims that the agentic economy is already here. Still, he does not see the current slowdown as permanent. He expects agent activity to begin rising alongside greater use of agent harnesses in the fourth quarter.

His argument rests partly on a recent development involving Cloudflare. On July 1, the company launched its Monetization Gateway, which lets customers charge for pages, APIs, datasets and MCP tools. The service uses x402 for stablecoin settlement and handles usage measurement and settlement at the edge.

Coutts said the system expands Cloudflare’s earlier Pay Per Crawl model. That service focused on charging AI bots, while the new gateway can charge any caller, including people and AI agents.

Infrastructure Is Growing While Usage Catches Up

The muted settlement data comes despite a series of developments aimed at machine-to-machine payments. On July 14, Ripple joined the newly launched x402 Foundation, hosted by the Linux Foundation, as a premier member alongside other crypto firms overseeing the Coinbase-built protocol.

Markus Infranger, senior vice president of RippleX, said “open standards like x402 help lay the foundation for trusted, interoperable machine-to-machine payments.” Ripple said its XRP Ledger already supports x402, meaning agents could transact using XRP or its RLUSD stablecoin, something it had previewed a month earlier with an AI Starter Kit for building autonomous payment apps on the XRPL, built with t54.

A16z had flagged x402 by name back in December 2025, predicting AI agents would need payments that move at internet speed and calling programmable settlement tools a way to make value transfer “a native network function rather than a separate operational layer.” Almost eight months later, Coutts’ chart shows the anticipated activity has mostly gone quiet.

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