Latest Crypto News and Market Updates – August 29

1. Bitcoin and Ethereum remain flat, Solana rallies

Bitcoin and Ethereum showed little movement, while Solana (SOL) broke above $200 and is now heading toward $300. Rumors of a U.S. Treasury investment fund could act as a catalyst, boosting market sentiment.

2. Ethereum dips slightly but bullish outlook remains

Ethereum is trading slightly lower around the 5-day EMA. However, strategist Tom Lee remains optimistic, forecasting ETH could reach $60,000 in five years and possibly double within this year.

3. WLFI token surges ahead of launch

WLFI is trading near $0.30, up almost 50% from recent lows. Another ecosystem token on BSC, $B, hit a new peak at $0.70. WLFI will officially launch on Ethereum on September 1.

4. XPL shows sharp volatility across exchanges

XPL spiked to $1 on Hyperliquid, while trading around $0.78 on Binance. The extreme divergence suggests whales are heavily controlling the market.

5. Chainlink and Pyth Network benefit from U.S. macro data move

Chainlink (LINK) and Pyth Network (PYTH) gained strongly after the U.S. Department of Commerce announced plans to bring macroeconomic data, such as GDP, onto blockchain. Both projects are designated as primary data providers.

6. Truth Social integrates CRO token

The Trump family steps into crypto as Truth Social integrates CRO token, which doubled in value. However, it is still too early to judge its long-term sustainability.

7. Ethereum staking sees major movements

Around 1.075 million ETH are queued for withdrawal from staking, while more than 730,000 ETH are waiting to enter staking. This could create short-term supply pressure.

8. CFTC opens door for foreign firms

The CFTC announced that foreign companies can apply to operate derivatives exchanges in the U.S. under the “Foreign Board of Trade” model.

9. Sony Layer 2 Soneium launches points system

Sony’s Layer 2 network, Soneium, introduced an on-chain points program. Season 1 has started, and users scoring over 80 points will receive an SBT badge — a notable opportunity for airdrop hunters.

10. Crypto market outlook

 - Bitcoin (BTC): Battling around the $111K support level, likely to consolidate further before a breakout.

 - Ethereum (ETH): Capital inflows are rising, but investor sentiment remains divided — expect high volatility.

 - Solana (SOL): Strong buying momentum supports continued short-term growth.

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.