Author: Anmol Khatiwada

WazirX’s native token WRX recently dipped nearly 15%, trading around $0.073, as the exchange moves into the critical verification stage of its Amended Scheme revote. The revote was initiated after concerns about the accuracy of the first voting round. Now, independent assessors are validating the updated ballots to ensure transparency and fairness before results are finalized.

The outcome of this verification process could be pivotal for WRX’s future market movement. A positive resolution with strong community support might restore investor confidence and potentially drive price recovery. Conversely, if the final verdict reveals disagreements or operational issues, WRX may face continued volatility in the short term.

Despite the drop, trading volume on WazirX remains active, indicating that investors are closely watching the developments. The exchange has assured that the verification will be completed efficiently and updates will be shared publicly.

As regulatory scrutiny of crypto exchanges intensifies globally, WazirX’s handling of this revote could set an example for other platforms. Investors should monitor announcements closely, as the verified outcome may determine WRX’s trajectory in the coming weeks.

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A major Bitcoin whale has pivoted toward Ethereum, sparking fresh debate in the crypto market. Blockchain analytics platform Lookonchain reported that this longtime holder created a new wallet and deposited $20 million in USDC to take a leveraged Ethereum position.

Currently, the whale controls long positions totaling 78,265 ETH, valued at around $334 million, spread across five wallets.

Previously, the same whale sold 670.1 BTC, worth $76 million, and used the proceeds to open 68,130 ETH longs. Lookonchain revealed that this address belongs to a Bitcoin OG who received 14,837 BTC seven years ago from HTX and Binance, which were worth $107.5 million at the time and now approach $1.7 billion.

Rotating From Bitcoin to Ethereum

Crypto strategist Samson Mow, CEO of Jan3, offered insight on the move:

“Most ETH holders have a lot of BTC (ICO/insiders) and they are rotating that BTC into ETH to pump it on new narratives. Once they’ve gotten it high enough, they’ll dump their ETH, creating new generational bagholders, and then rotate the gains back into BTC. No one wants ETH in the long run. Plan accordingly.”

The whale’s strategy reflects the long-standing cycle of capital rotation between Bitcoin and Ethereum. However, the scale of the current move signals renewed confidence in ETH during a period of institutional attention.

Institutions Increasing Ethereum Holdings

Alongside whale activity, institutional players are entering the Ethereum market. BitMine Immersion Technologies recently boosted its treasury by adding 52,475 ETH, showing that companies are diversifying crypto holdings beyond Bitcoin.

CryptoQuant data further shows the ratio of whale activity to Bitcoin exchange volume is 0.47, indicating that large holders represent only a small fraction of total exchange trading. With Bitcoin trading above $112,000, other factors, including institutional interest, are supporting the crypto market.

The whale’s Ethereum investments may fuel short-term maneuvers but also carry potential risks of market manipulation. Traders and investors are closely watching whether ETH can sustain this momentum amid increasing institutional adoption.

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Hyperliquid has rolled out a major upgrade to its decentralized exchange, officially enabling multi-quote spot trading on mainnet. The deployment, led by the USDT0 team, automatically launched the HYPE/USDT pair as the first example of the new system.

⚡ Multi-Quote Expansion
The update allows HIP-1 base asset deployments to select any quote asset for their initial spot pair, significantly improving flexibility. In line with HIP-1’s cadence, new permissionless pairs between base and quote assets will continue to launch through independent Dutch auctions.

The team also hinted at upcoming enhancements to broaden quote asset strategies, making the platform even more versatile for traders.

📊 Whale Activity & Market Performance
At the time of writing, HYPE trades at $44.21, with a 24-hour volume of $228 million, despite a 5.28% daily dip (CoinMarketCap). Notably, whale wallet 0xa523 injected more than $40 million USDC into the platform, scooping up 466,000 HYPE tokens worth $21.5M between $46–$47.

📈 Strong Growth Metrics
Hyperliquid’s momentum is visible across on-chain metrics. According to DeFiLlama, total value locked (TVL) reached $2.81B this week. On August 15, the protocol processed $29B in 24-hour volume, generating $7.7M in fees. With 97% of trading fees allocated to HYPE buybacks, trading surges directly support token price growth.

In July alone, Hyperliquid handled $320B in trades, capturing 6.1% of global crypto trading activity, rivaling some centralized exchanges.

🗣️ Founder’s Vision
Co-founder Jeff Yan, a Harvard-trained mathematician, said Hyperliquid’s success comes from self-funding and user-first design rather than heavy VC backing.

“Progress comes when users derive value from what you’ve built,” Yan emphasized on the WuBlockchain Podcast.

With its Layer-1 securing $2.21B in TVL, Hyperliquid’s mainnet upgrade underscores its push to compete directly with centralized exchanges while empowering traders.

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Kanye West’s YZY token exploded onto the crypto scene this week, delivering a rollercoaster launch that minted instant millionaires while wiping out latecomers.

🚀 $3B Peak Before Collapse
According to Nansen, YZY soared to a staggering $3 billion market capitalization within 40 minutes of launch. By Thursday afternoon, the market cap had fallen to $1.05 billion as insiders began offloading their holdings.

Blockchain tracker Lookonchain flagged issues immediately: YZY’s liquidity pool contained only YZY tokens—no USDC—allowing developers to move liquidity freely, a tactic often seen in celebrity-backed token launches.

💰 Insiders Win Big
One insider wallet (6MNWV8) bought 1.29 million YZY at $0.35 using 450,611 USDC. Within hours, it sold most holdings for $1.39 million, securing more than $1.5 million in profit. Another trader split buys across two wallets, turning 450,000 USDC into $3.4 million, even spending 129 SOL ($24,000) in priority fees to front-run the crowd.

Coinbase’s Conor Grogan noted that 94% of YZY’s supply was initially in insider hands, with one multisig wallet controlling 87% before dispersal.

📉 Whales Take Heavy Losses
Not all players walked away winners. One whale spent 1.55M USDC on YZY at $1.56, selling two hours later for 1.05M USDC, losing nearly $500,000. A leverage trader has already burned $160,000 across failed longs in just one hour.

🌟 Celebrity Hype Drives Demand
Despite risks, hype continues. BitMEX co-founder Arthur Hayes disclosed he bought YZY, while trader James Wynn compared the frenzy to Donald Trump’s memecoin, which quadrupled in under 28 hours.

West, worth $400 million per Forbes, had previously rejected a $2M offer to promote a fake token. His official YZY site warns of the “potential for complete loss.”

The chaotic launch underscores how celebrity-backed tokens can deliver lightning-fast riches—or devastating losses—within hours.

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U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins said on Tuesday, August 19, 2025, that only a small percentage of crypto tokens should be considered securities, marking a sharp departure from the agency’s previous position.

Speaking at the Wyoming Blockchain Symposium, Atkins explained:

“From the SEC’s perspective, we will plow forward on this idea that just the token itself is not necessarily a security. Very few, in my mind, tokens are securities — but it depends on the package around it and how it’s being sold.”

This stance contrasts with former SEC Chair Gary Gensler, who repeatedly argued that the “vast majority” of crypto assets fell under securities law via the Howey test. Gensler resigned in January 2025, with Mark Uyeda serving as Acting Chair before Atkins’ appointment.

📜 Legislative Backdrop
Atkins’ comments come as Congress works to set clearer digital asset rules. In July, the House passed the Digital Asset Market Clarity (CLARITY) Act, which establishes a regulatory framework for U.S. crypto markets.

Senate Banking Committee Chair Tim Scott recently noted that as many as 18 Democrats could join Republicans in supporting the bill when the Senate reconvenes on September 2, 2025, suggesting broad bipartisan momentum.

⚖️ Project Crypto Initiative
Atkins also referenced the SEC’s Project Crypto, which aims to craft guidelines for blockchain-based trading platforms while balancing investor protection with innovation.

The new approach indicates a friendlier regulatory climate for crypto, giving businesses and investors greater clarity as the U.S. market continues to evolve.

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The Ethereum ecosystem is buzzing with discussions over ERC-8004, a newly proposed standard called Trustless Agents, designed to enable autonomous AI agents to interact seamlessly on Ethereum’s decentralized network.

The proposal was introduced by Davide Crapis of the Ethereum Foundation, who described ERC-8004 as an extension of the Agent-to-Agent (A2A) protocol with a new trust layer. This layer would let AI agents discover, choose, and interact across organizational boundaries without needing pre-existing trust.

“ERC-8004 introduces three lightweight, on-chain registries—Identity, Reputation, and Validation—which provide the skeleton of trust while leaving application-specific logic off-chain,” Crapis explained in a recent Magicians post.

The initiative positions it, not as a place to run AI models directly but as a tamper-proof coordination layer. This contrasts with reliance on centralized providers such as Google APIs or corporate data platforms, which critics argue limit openness and neutrality.

Ethereum insiders believe the standard could power a new machine economy, where millions of autonomous AI agents transact, negotiate, and form DAOs. An Ethereum Foundation contributor, known as Binji, noted: “The specifics can stay offchain, but the skeleton of trust lives on it.”

As the proposal undergoes public review, developers are collaborating with the Linux Foundation and A2A stakeholders to refine its specifications. If adopted, ERC-8004 could become a cornerstone for a decentralized AI economy, blending the growth of blockchain with the rise of autonomous agents.

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