Cryptonews

According to a press release dated August 1, Subzero Labs has emerged from stealth with a $20 million funding round led by Pantera Capital, joined by Coinbase Ventures, Hashed, and other heavyweight investors. 🏦✨ The team, stacked with veterans from Meta, Netflix, Solana, and Diem, is building Rialo—a blockchain it claims is designed to eliminate the infrastructure headaches that stall decentralized app development. 🧱

This weak link in the economy shall surely spook the Fed into more rate cuts — because what’s a crisis without a little chaos? The joke’s on us: stocks, bonds, gold, all dance to this new tune of uncertainty.

Peering at the unfeeling on-chain data, one witnesses a rift: small hands drop their load, bowing before fear, while the great wallets scoop up tokens as if buying sausages in the bitter dawn of the market bazaar. Should the hunger of the whales outgrow the nervous exodus, PUMP may yet twitch with life again. Or, simply flop about—time will tell.

Trump, ever the strategist, reaffirms his Bitcoin ambitions with the fervor of a poet reciting Pushkin. Robert Bo Hines, the White House’s crypto bard, assures us the reserve is alive and well, a central pillar indeed—though one wonders if it’s holding up the sky or just the administration’s reputation. Speaking to Crypto In America, he revealed the government’s Bitcoin hoard since March, alongside a broader digital asset collection. Bitcoin, that “elevated” king of cryptos, reigns supreme—even the government bows, albeit with a ledger in hand. 🏛️

Ethereum’s birthday bash didn’t just involve cake and candles; it sparked a corporate stampede toward Ether (ETH), as the big wallets—think of them as the finance world’s equivalent of wealthy uncles—have amassed over 1% of all Ether since June. And the bank folks are betting that this could grow to a staggering 10%—which, if it happens, might just push Ethereum’s star to soar past the $4,000 mark. Fancy that! 🚀

The Ripple-linked XRP token, with its impressive market cap of $186 billion, has been completely ignored in this latest White House report. Imagine the nerve! 🤦‍♂️

Treehouse (TREE), that brave little token, peered out at $0.6068 — a 30% leap from this week’s nadir. Then, like a wounded bird, it faltered, falling back to $0.5317. Meanwhile, the volume awoke with a roar, surging 53% to $185 million—more than double its market cap of $85 million, which is basically crypto’s version of a confidence trick. 🃏

After July’s surge, which was about as subtle as a marching band in a library, PENGU now finds itself wobbling into August with far less drama. Instead of plummeting flat on its face, the coin seems to bounce gracefully around $0.035. Of course, several opportunistic traders snatched some breadcrumbs—not to be confused with profits—right at July’s end. Nevertheless, the uptrend has clung to life with the stubbornness of a rubber duck in a whirlpool.

With the market now brimming with momentum heading into August, we turned to Grok, X’s powerful AI chatbot, to help uncover hidden gems that could emerge as the next 100x tokens. (Because who needs human intuition when you can ask a robot with a 404 error rate?)

At present, the atmosphere is akin to a lukewarm cup of tea—neither invigorating nor entirely unpleasant. The funding rates for derivatives, those fickle creatures, are only marginally elevated, reflecting a mood of caution among traders who seem to be waiting for a sign from the heavens. The summer months, as we know, are traditionally a languid stretch for Bitcoin, and with the Federal Reserve not scheduled to revisit its policies until mid-September, one might say that major catalysts are as scarce as a good cup of coffee in a sleepy provincial town.