Bitcoin Dips Below $115K Amid Profit-Taking, But Corporates Stack More, BNB Hits ATH

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Now let's get back to the top stories of the day.

Bitcoin (BTC) experienced a notable correction today, sliding below $115,000 after peaking above $124,000 earlier this month. The price fell by over 7% in recent sessions, trading around $115,500 as of this morning, driven primarily by a surge in profit-taking.

On-chain data from Glassnode indicates that investors realized approximately $3.5B in profits over the weekend, with $3.3B on Saturday alone, the highest single-day figure since mid-July and among the top in 2025.

Macroeconomic factors exacerbate the dip: July's U.S. producer price index data came in hotter than expected at 3.3% year-over-year, dampening hopes for a Federal Reserve rate cut in September and strengthening the dollar, triggering risk-off behavior across markets.

Despite the price pressure, corporate adoption remains robust, with MicroStrategy and Metaplanet aggressively expanding their Bitcoin treasuries, a strategy that underscores long-term confidence in BTC as a store of value.

MicroStrategy, the largest BTC treasury firm, added 430 BTC last week for $51.4M at an average price of $119,666 per coin, bringing its total holdings to 629,376 BTC (valued at ~$72.4B at current prices, with unrealized gains of $26.2B). This purchase was funded through capital-markets activities, bolstered by the company's record Q2 net income of $10B under new fair-value accounting standards.

Similarly, Japanese firm Metaplanet acquired 775 BTC for ~$94M (13.73B yen) at an average of $120,500 per coin, boosting its holdings to 18,888 BTC (valued at ~$2.18B). This ranks Metaplanet seventh globally in BTC holdings. The purchase aligns with its Bitcoin accumulation strategy, which started in April 2024 and was funded by recurring income from cash-secured-put premiums and strong Q2 earnings.

This dip could present a buying opportunity for long-term holders, especially as corporate treasuries like these provide fundamental support. This week, monitor the Jackson Hole Symposium and jobless claims data for potential rebounds.

Hyperliquid (HYPE), the leading decentralized perpetual futures exchange, continues its meteoric rise, posting new all-time highs (ATHs) in trading volume and revenue amid growing DeFi adoption. The platform drove $319B in volume in July alone, contributing to a collective ATH for DeFi perps at $487B.

Over the past year, Hyperliquid has recorded $1.571T in perps volume, with a single-day peak of $29B in August 2025. Revenue has surged accordingly, capturing 35% of blockchain revenue in July at $15.3B in open interest, outperforming rivals like Solana in derivatives trading and poaching users.

Partnerships are amplifying growth: Hyperliquid recently integrated with Anchorage Digital Bank for institutional-grade custody of the HYPE token on HyperEVM, enhancing security for innovators and investors. This move brings federally regulated custody, appealing to institutions.

Additionally, a strategic tie-up with Ethena Labs launched the first GENIUS-compliant stablecoin (USDtb), issued by Anchorage, which could integrate with Hyperliquid's ecosystem for stable trading pairs. 

Hyperliquid's metrics signal strong organic growth in DeFi perps, but volatility in HYPE warrants caution. To sustain momentum, watch for more institutional integrations.

Binance Coin (BNB) has achieved a remarkable milestone, surging to a new all-time high of $866 and pushing its market capitalization beyond $120B amid a 15% weekly rally. 

This performance is fueled by strategic developments on BNB Chain, including the successful 'Maxwell' hard fork. This fork slashed block times by 50% to 0.75 seconds (from 1.5 seconds) and finality to 1.875 seconds while reducing gas costs to ~$0.01 per transaction. The upgrade, which has been live since late June, has boosted transaction throughput by 95%, enhancing scalability and user experience.

Growing adoption in traditional finance is a key driver, with partnerships like Kraken and Ondo Finance expanding BNB's utility in institutional settings, including tokenized assets and DeFi integrations. BNB's technical edge and institutional ties position it for sustained growth, but monitor broader market corrections for entry points.

Solana (SOL) made headlines by briefly exceeding 100,000 transactions per second (TPS) on its mainnet during a weekend stress test, peaking at 107,540 TPS in a single block.

The test, conducted by validator "Cavey Cool" using lightweight 'noop' (no-operation) instructions, simulated high-load scenarios like oracle updates or transfers, demonstrating potential for 80,000-100,000 TPS in real-world operations.

While critics dismiss it as artificial spam, Helius CEO Mert Mumtaz argues the network costs (e.g., signature verification) make it comparable to practical use cases. Average daily TPS remains around 3,500 (with ~1,000 effective for payments/apps, two-thirds being validator votes). Still, this milestone positions Solana as the first major blockchain to hit six figures, outpacing competitors.

The achievement boosts SOL's appeal for high-throughput apps. The upcoming Alpenglow upgrade could further reduce finality to milliseconds. Solana's scalability edge strengthens its DeFi and NFT dominance, but real-world TPS validation will be key; watch for adoption metrics. 

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