Latest Crypto News and Market Updates – August 13

1. Ethereum Breaks $4,600 – Crypto Market Hits Record

Ethereum price surpassed $4,600, now less than 5% from its all-time high. The total crypto market cap reached a record $4.1 trillion as July CPI met expectations, boosting the odds of a September rate cut. U.S. stock indexes also continued setting new highs.

2. Solana (SOL) Soars to $193

The Solana ecosystem posted strong gains, possibly driven by trend-catching momentum and a meme coin frenzy increasing on-chain activity.

3. Ethereum Foundation Sells Nearly 2,800 ETH

A wallet linked to the Ethereum Foundation sold 2,794.87 ETH (~$12.78M) within just two hours.

4. PUMP Token in the Spotlight After TGE

Following its token generation event, the PUMP team sold 86,000 SOL (~$16.28M). Last week, they bought back $8.42M worth of PUMP; market cap briefly exceeded $4B.

5. Ethena (ENA) Quadruples from the Bottom

ENA broke above $0.80, making Ethena the sixth DeFi protocol to hit over $10B in TVL, with Ethereum ecosystem strength driving growth.

6. BitMine Plans Massive Expansion

The major ETH reserve holder plans to issue up to $20B in new stock. Its daily trading volume reached $9.273B, ranking seventh on the U.S. stock market.

7. Trump’s Crypto Assets Top $2.4B

Donald Trump’s cryptocurrency holdings now account for 43.5% of his political career’s total assets.

8. Stablecoin Wars Heat Up

Circle will launch a public testnet for ARC L1 this fall (EVM-compatible with USDC gas fees). Meanwhile, Stripe and Paradigm announced “Tempo,” a payment-focused blockchain.

9. Monero (XMR) Drops on 51% Attack Rumor

Qubic temporarily controlled 52.72% of Monero’s hashrate but claimed it was a technical experiment, not a malicious attack.

10. Leverage Risk Warning

Open interest in top altcoin perpetual contracts hit a record $47B, signaling potential for sharp corrections when the bull market cools.

11. AI-Powered Market Recap

Bitcoin trading in the $117K–$119K range with whales battling for positions.

Ethereum supported by whale leverage and ETF inflows.

Altcoin performance mixed; funds focusing on ETH and select assets.

CPI data driving short-term volatility, but overall sentiment leaning bullish.

Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.