Bitcoin dropped below $108,000 on Friday, and the rest of the crypto market followed. Will $100,000 be BTC's next stop? Key points: Bitcoin risks falling into the $105,000 to $100,000 range over the weekend. Ether has pulled back in the near term, but remains above the crucial $4,094 support. Read more
Eliza Labs founder Shaw Walters said that xAI demanded more licensing fees from the agentic AI platform or face possible legal action. Agentic AI project Eliza Labs has filed a lawsuit against Elon Musk’s xAI, claiming that the AI company engaged in monopolistic practices meant to “deplatform” agentic AI launchpads. The lawsuit claims that xAI attempted to “extract” valuable information, including technical documentation and usage figures related to the development of Eliza Labs’ platform, to copy its ideas before “banishing” Eliza Labs from xAI. Eliza Labs co-founder Shaw Walters argues in the lawsuit that the relationship between the two companies started off amicably, with xAI inviting Walters to share ideas. He also said that they built on xAI’s application programming interface (API) because it was free. Walters added: Read more
Institutional investors now have their first exposure to Hyperliquid’s native token through a Europe-listed crypto ETP. 21Shares, a Switzerland-based asset manager and issuer of crypto exchange-traded products (ETPs), has listed the Hyperliquid ETP on the SIX Swiss Exchange. The product gives investors exposure to the Hyperliquid token without the need for wallets or onchain custody. In a Friday announcement, the company described Hyperliquid as one of the major venues for decentralized derivatives, claiming it processes more than $8 billion in daily volume, with $2 trillion in trades since its 2023 launch, and roughly 80% of the total decentralized perpetuals activity. The listing, which marks the first institutional-grade product offering exposure to the Hyperliquid protocol, comes just days after Hyperliquid’s token (HYPE) hit a record high of $50.99. Read more
Crypto markets are seeing a “natural rotation” into Ether and altcoins with more potential upside, Nansen’s research analyst told Cointelegraph. Bitcoin whales, or large tokenholders, are selling more of the world’s first cryptocurrency to gain exposure to Ether’s price. The move signals the market’s “natural rotation” into Ether (ETH) and other altcoins with more upside potential, Nicolai Sondergaard, research analyst at crypto intelligence platform Nansen, told Cointelegraph. The growing investor capital rotation occurred despite increasing concerns over incoming selling pressure, due to the Ethereum validator queue reaching an all-time high of nearly $5 billion worth of ETH tokens on Thursday, pushing withdrawal times to a record 18 days, 16 hours. Read more
Ethereum’s roadmap is entering a “critical inflection point,” say Bitfinex analysts, with the valuation trading at a relative discount compared to Bitcoin. Ether spot exchange-traded funds (ETFs) have seen steady growth since their US debut in July 2024, while corporate treasuries tied to the token are also on the rise. Inflows into Ether (ETH) funds climbed 44% this month, rising from $9.5 billion on Aug. 1 to $13.7 billion on Aug. 28, according to cryptocurrency research platform SoSoValue. Market participants say renewed institutional demand is fueling the momentum. “After an extended period of underperformance relative to Bitcoin and a souring investor sentiment, Ethereum has recently experienced a significant revival in the recognition of both its adoption rate and value proposition,” Sygnum Chief Investment Officer Fabian Dori told Cointelegraph. Read more