CoinDesk

A new Treasury report indicates that stablecoin growth will have less impact on Treasury bill markets than previously anticipated. Instead, the main disruption will likely be felt by money market funds. Key points: - Stablecoin collateral demands won't significantly affect T-bill dynamics - Money market funds face greater challenges from stablecoin growth - Previous concerns about T-bill market disruption appear overstated This represents a shift from October 2024 assessments that suggested stablecoins could meaningfully reshape Treasury bill demand and pose financial stability risks.

A new analysis from RedStone highlights Hyperliquids' dominant position in decentralized trading, capturing over **80% market share**. Key factors driving growth: - On-chain order book implementation - HIP-3 market creation protocol - Innovative dual-chain architecture This follows earlier reports of Hyperliquids' growing influence in decentralized trading platforms, particularly noted for their rapid response capabilities. Want to learn more about Hyperliquids' market strategy? Check out the full [RedStone report](https://redstone.report).

A new partnership focuses on optimizing blockchain transaction sequencing - the crucial backend process that impacts: - Transaction confirmation speed - Trade priority determination - User fee structures The collaboration builds on a previous integration with Sequence's Web3 development stack announced in June 2025. This expanded partnership aims to enhance the overall transaction experience by streamlining these critical backend operations. *The initiative targets key pain points in blockchain transactions, potentially leading to faster and more cost-effective processing.*

A major bank's analysis indicates continued growth potential for Ethereum holdings across institutional investors. Key observations: - ETH holdings in ETFs and corporate treasuries show strong momentum - Since June, both ETF holders and treasury managers have each acquired 1.6% of ETH supply - Analysis suggests room for additional institutional accumulation The trend reflects growing institutional confidence in Ethereum as a treasury asset and investment vehicle. This sustained demand could impact ETH's market dynamics.

MetaMask has officially confirmed its digital dollar initiative, marking a significant development in the stablecoin space. The project combines: - Bridge's expertise in regulatory compliance and reserve management - M0's proven blockchain technology infrastructure - Compliance with new US stablecoin regulations The stablecoin, dubbed mUSD, represents a collaboration between MetaMask, Stripes Bridge, and Blackstone. This strategic partnership aims to deliver a regulated stablecoin solution that meets current market demands and regulatory requirements. *Launch Timeline: Late August 2025*

Bitcoin's momentary surge to $144,700 on Wednesday proved short-lived as market sentiment indicators turned bearish for the first time in over a year. Key movements: - Long-term market sentiment turned negative, first time since June 2023 - **Major altcoins DOGE, XRP, and SOL followed Bitcoin's downward trend** - *Ethereum showed more stability* amid the market decline This shift marks a significant change in market dynamics, suggesting potential continued pressure on crypto assets.

Market analysis for August 21, 2025 shows continued trends from previous weeks. Key points: - Trading volumes remain consistent with mid-August patterns - No major market disruptions anticipated - Standard day-ahead operations expected Traders should maintain regular monitoring and follow established protocols for day-ahead trading activities. *Note: This is a routine market update with no significant deviations from normal operations.*

Harvard economist Kenneth Rogoff has acknowledged he previously underestimated Bitcoin's significance in underground economies. This admission comes after observing how illicit activities have created a persistent price floor for BTC. The revelation gains context from December 2024's events, when Bitcoin's price temporarily declined after $2 billion worth of seized Silk Road BTC was transferred to Coinbase. - Rogoff's updated stance marks a shift from his earlier skepticism - Underground economy provides sustained demand for Bitcoin - Connection to December 2024 Silk Road BTC movement demonstrates market impact *Key takeaway*: Even critics are reassessing Bitcoin's resilience in specific economic niches.

Cross-chain protocol LayerZero's proposed $110M token-swap acquisition of Stargate is meeting resistance. Rival protocol Wormhole has requested a delay in Stargate's governance vote, indicating plans to submit a competing bid. Key developments: - LayerZero offered $110M in tokens for Stargate - Wormhole seeks vote postponement to prepare counter-offer - Community shows mixed reactions to initial proposal This situation highlights growing consolidation trends in cross-chain infrastructure, with major protocols vying for strategic acquisitions.

SHIB experienced notable market activity with a 5% price spread and trading volume exceeding 1 trillion tokens. This follows a pattern from May when SHIB saw similar volatility but maintained support levels. Key points: - Current trading volume surpasses 1T tokens - 5% price range spread indicates active trading - Historical context: May showed resilience at $0.00001440 support - Holder base remains strong at 1.13M addresses *Market participants should monitor volume patterns and support levels for potential trend signals.*