CoinSpot
You have a payment open
Click link to continue with the payment in this tab - remaining time:
.
7 mins
13 hours ago
Bitcoin (BTC) and Ethereum (ETH) have held steady, with both holding onto much of their late-August rebound.
The relatively calm price action follows a sharp rebound in late August, when both assets recovered from an earlier pullback. One factor to watch has been the return of demand for spot ETFs in the U.S. Bitcoin ETFs recorded nine consecutive days of net inflows before a single day of outflows on August 28, while Ethereum ETFs continued their own run of positive flows.
ETF flows do not explain every short-term price move, but they remain a useful gauge of institutional demand. When fund flows are positive, ETF issuers generally need to buy the underlying cryptocurrency to meet that demand. The recent improvement therefore gives the market a more constructive backdrop than it had earlier in August.
Robinhood Chain has continued to gain traction since launching in July. Total value locked (TVL), which measures the value deposited in the chain’s decentralised finance (DeFi) applications, has climbed from just over $420 million AUD in late July to roughly $1 billion AUD currently.
The chain is designed around Robinhood’s broader push into tokenised assets and on-chain finance, with products spanning trading, stablecoins and real-world assets. Its stablecoin supply and decentralised exchange volumes have also increased alongside TVL.
HOOD Summit, Robinhood’s annual conference is to be held in Houston on September 29 and 30. Robinhood has flagged product announcements for the event, so it is possible that further details about Robinhood Chain will be shared then.
Strategy, the company led by Michael Saylor and formerly known as MicroStrategy, has shifted back to buying Bitcoin after selling some of its holdings over the past 10 weeks. Between August 24 and 30, it bought 4,603 BTC for approximately $516 million AUD, an average price of around $112,100 AUD per Bitcoin.
The purchase lifted Strategy’s Bitcoin holdings to 845,050 BTC. That represents about 4.0% of Bitcoin’s eventual maximum supply of 21 million coins, underlining how significant the company has become in the Bitcoin market.
Across all of its purchases, Strategy has spent approximately $88.9 billion AUD to acquire its Bitcoin, implying an average purchase price of around $105,200 AUD per BTC. The latest purchase was made above that average, but it marks a shift back to accumulation after a period of sales.
Pump.fun (PUMP), the Solana-based token launchpad and trading platform, has continued to show improving fundamentals through late August. Platform revenue, trading activity and token buybacks have all remained elevated compared with earlier in the quarter.
The protocol currently directs 50% of eligible net revenue to buying back and burning PUMP. In the final week of August, daily buybacks were generally around $1 million USD or more, with the amount fluctuating alongside trading activity. This gives PUMP a direct link to usage of the platform: higher revenue can result in more tokens being removed from circulation.
Pump.fun’s growth reflects a broader recovery in activity across the Solana ecosystem. Its mix of token creation, decentralised exchange trading and advanced trading tools has helped it remain one of the more closely watched projects in the sector.
