ETH Hits New Highs Amid Bold Forecasts and Treasury Builds

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

Ethereum has officially reclaimed its throne, breaching new all-time highs for the first time in 1,381 days amid a dovish Fed pivot and resuming ETF inflows.

ETH touched $4,946, up a staggering 250% from April lows, fueled by whale withdrawals (over 200,000 ETH pulled from exchanges) and bullish indicators like rising mean dollar invested age (MDIA) and declining exchange supply.

Ethereum's DeFi dominance and upcoming upgrades like EIP-7702 further bolster the narrative, with some eyeing $5,000 next amid shock whale moves.

Adding fuel to the fire, Arthur Hayes, BitMEX co-founder, doubled down on his Ethereum optimism at the WebX Asia conference, predicting ETH could soar to $20,000 by the cycle's end. He ties this to expected quantitative easing under a potential Trump administration, inflating assets broadly.

Hayes' personal conviction shines through his prominent ETH position, including recent additions, alongside massive treasury accumulations exceeding $10B by firms like BitMine and Ethereum ETFs holding over 5% of ETH supply.

Hayes also projected a jaw-dropping 126x upside for Hyperliquid's HYPE token, envisioning a $5T+ FDV by 2028. This bold call rests on the global stablecoin market ballooning to $10T, with Hyperliquid, a perp DEX, commanding 75% market share and $30B daily volume and capturing 26.4% of trades.

For investors, this confluence spotlights Ethereum's momentum as a macro-leveraged play and Hyperliquid as a DeFi dark horse. Monitor stablecoin issuance, Fed signals, and on-chain metrics; high-conviction entries here could yield generational returns, but volatility demands prudent sizing.

The trend of public companies treating crypto as a balance sheet staple is accelerating, with fresh capital raises and buys signaling deepening institutional conviction. 

MicroStrategy, the OG Bitcoin maximalist under Michael Saylor, added 3,081 BTC last week for $356.9M at an average $115,829 per coin, pushing its stack to 632,457 BTC, valued at ~$70B with $23.5B in unrealized gains. Funded via ATM equity sales, this extends their dollar-cost averaging strategy, yielding 25.4% YTD.

On the Ethereum front, Fundstrat's Tom Lee-led BitMine Immersion Technologies solidified its status as the top corporate ETH holder, scooping 190,500 ETH (~$2.2B) to reach 1.713M ETH plus $562M cash, totaling $8.82B in holdings. Their goal? Up to 5% of ETH's supply (~6M ETH, or $22B at current prices), backed by a $24.5B ATM filing. This catapults BitMine to the No. 2 global crypto treasury behind MicroStrategy.

Solana is drawing similar firepower: Sharps Technology (STSS) raised $400M from heavyweights like ParaFi and Pantera to build a massive SOL treasury, spiking its stock 70% to over $13.

Meanwhile, Galaxy Digital, Jump Crypto, and Multicoin Capital are eyeing $1B to create the largest SOL-focused treasury via a listed firm buyout, with Solana Foundation approval.

Even BNB gets in: B Strategy, backed by Binance founders CZ and Yi He plus ex-Bitmain CFO Max Hua, launches a $1B U.S.-listed vehicle as the "Berkshire Hathaway" of BNB, funding ecosystem grants and tech.

This wave, totaling billions across BTC, ETH, SOL, and BNB, reflects a maturing narrative: crypto as a yield-generating reserve asset. For natives, it's a liquidity tailwind; monitor stock liquidity for arbitrage ops, but beware dilution risks from equity raises.

Bitcoin's weekend flash crash, plunging 2.1%+ to $111,000 in minutes, erasing Fed Chair Powell's dovish spike, highlights fragility amid whale migrations and outflows, potentially heralding altseason. 

A whale dumped 24,000 BTC (~$2.7B) from a long-dormant HTX-linked wallet, rotating $2B into ETH (including $1.3B staked), triggering $500M in leverage wipes.

BTC dominance dipped to 58%, below its 50-day MA, while options skew turned bearish.

Global crypto funds saw $1.4B outflows, the largest since March, with BTC ($1B) and ETH ($440M) hit hardest, though alt inflows (e.g., $25M XRP, $12M SOL) bucked the trend. Early-week redemptions neared $2B, reversing post-Jackson Hole to $594M inflows, concentrated in the U.S., Sweden, and Switzerland.

Conversely, Ethereum's strength (ETH/BTC at 0.041) continues to shine against BTC's 4.45% weekly drop, with alt futures OI exploding from $9.2B to $61.7B, signaling leverage buildup. Watch for fragility. This BTC weakness screams rotation. Position for alts if dominance breaks 57%, but hedge with stops given macro jitters.

Institutional product innovation is heating up and bridging TradFi and DeFi yields. VanEck and Jito filed the first-ever Solana staking ETF (VanEck JitoSOL), aiming to capture SOL exposure plus rewards without unbonding hassles.

Backed by the Solana Foundation and Multicoin, it leverages SEC guidance that liquid staking isn't a security if structured correctly. Rewards could offset fees, enhancing decentralization by spreading stakes. Review could take months, but approval would turbocharge SOL adoption post-Canary Capital's similar amendment.

Ether ETFs resumed inflows, netting $2.86B weekly (vs. BTC's $552M), pushing AUM to $12.12B and holding 5%+ of the ETH supply. August MTD: $2.96B ETH vs. $21M BTC outflows. This, amid Powell's dovish pivot (rate cuts signaling looser liquidity), propelled ETH's ATH and could draw more retail if social sentiment (at July lows) bottoms.

These filings underscore regulatory thaw. Stake SOL proxies for yield or rotate into ETH ETFs for momentum. Monitor SEC timelines; a green light could catalyze $10B+ inflows, amplifying treasury trends.

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