Latest Crypto News and Market Updates – August 6

1. MYX Stock Shocks: Up 10x In 3 Days, Then Drops Over 50%

MYX saw an extreme short squeeze, surging 10x in just three days. However, the price quickly fell more than 50% from its peak. Note: 3.9% of supply unlocks today as part of its monthly schedule.

2. GameFi Boom: ILV Jumps 90% In 3 Days, Multiple Tokens Surge

ILV nearly doubled in just three days, while other tokens such as DARK, MAGIC, and B3 also posted strong gains despite no clear trigger.

3. Litecoin (LTC) Up 40% In A Month Amid Accumulation Rumors

LTC gained 40% over the past month before pulling back with the broader market. Rumors suggest some U.S. companies are adding LTC to reserves.

4. “TON Strategy” Raises $558M But Price Still Falls
Project VERB raised $558 million to acquire 5% of TON’s supply and rebranded as “TON Strategy.” Despite this, TON’s price still dropped sharply.

5. U.S. Crypto Stocks Show Mixed Performance
COIN and CRCL fell over 6%, while ETH reserve-linked stocks like BMNR and SBET gained more than 5%.

6. SEC States: Liquid Staking Is Not A Security
This could be a bullish catalyst for spot ETH ETFs with integrated staking, potentially attracting fresh institutional inflows.

7. U.S. Rate Cut Expectations Rise Sharply
Several Fed officials signaled multiple rate cuts could occur this year, possibly sooner than expected.

8. Matrixport Warns Altcoin Rally May End Soon
Matrixport notes the current altcoin rally has seen only brief pumps in select tokens, with no sustained upward trend yet.

9. The Story Of 8,000 Buried Bitcoin
James from the UK refuses to abandon his buried BTC stash and plans to tokenize partial ownership to raise funds for recovery.

10. Bitcoin And Ethereum Move Sideways, Market May Overheat Before Drop

BTC is holding a key support at $112K. Short-term risk: The market could see an overheated pump followed by a steep correction.