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CoinCatch Market Daily Report (August 20, 2025)
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2025-08-20 | 10m
On August 20, Bitcoin fell 0.04% over the past 24 hours to $113,703; Ethereum fell 1.25% in the past 24 hours to $4,180, all underperforming the broader crypto market (-1.21%). Meanwhile, Gemini’s long-awaited IPO filing drew fresh attention to payments giant Ripple, with the exchange disclosing a $75 million credit line from the company alongside a steep financial loss; BitMine, a publicly traded company renowned for its bold treasury strategy, has officially become the second-largest crypto treasury company in the world; Polkadot is moving to reposition itself in the current bull market by introducing a dedicated unit to bridge its ecosystem with institutional capital.
Crypto Market Overview
BTC (-0.04% | Current Price: 113,703.96 USDT)
Bitcoin continued its decline today, reaching a low of $112,578.67. BTC broke below the critical $115K support level (23.6% Fibonacci retracement), triggering $101M in long liquidations. The 4H chart shows bearish momentum with RSI at 40 and MACD histogram deep in negative territory. U.S. spot Bitcoin ETFs saw $523M in net outflows on August 20, which is the second-largest daily redemption since launch. Fidelity's FBTC (-$246.9M) and Grayscale's GBTC (-$115.5M) led the exits as investors locked in gains after BTC's 85% YTD rally. ETF redemptions force issuers to sell underlying BTC, creating direct market sell pressure. The $149.68B ETF AUM now represents 6.6% of Bitcoin's circulating supply, which is large enough to impact prices when flows reverse. Today's FOMC meeting minutes (Aug 20) and Fed Chair Powell's Jackson Hole speech (Aug 22) for rate cut clues.
On August 19, BTC ETFs saw a net outflow of $523.3 million, with $246.9 million flowing out Fidelity's FBTC.
ETH (-1.34% | Current Price: 4182.82 USDT)
Ethereum (ETH) experienced significant selling pressure on August 20, 2025. The price broke below the key psychological level of $4,200 and continued to decline, falling through the $4,100 support level to trade around $4,090 in the Asian trading hours. ETH broke below the critical $4,232 support level (23.6% Fibonacci retracement), with RSI at 39 (near oversold) and MACD signaling bearish crossover. The breakdown triggered $210M in ETH long liquidations in 24h. Next support sits at $3,946 (50-day MA), while reclaiming $4,232 could stabilize prices. Now it's time to watch the $4,000 psychological level – a breach may cascade into stop-loss orders.
On August 18, ETH ETFs recorded a net daily outflow of $422.2 million, including a $6.3 million outflow of BlackRock's ETHA and a 156.3 million outflow of Fidelity’s FETH.
Altcoins
Altcoins saw a weak performance overall today. Beyond the tokens listed in the table, the PayFi sector saw a 5.65% drop overall. Other major sectors, including CeFi (centralized finance), Layer 1 (underlying public blockchains), Layer 2 (second-layer networks), and DeFi (decentralized finance), also saw significant declines. The Fear & Greed Index plummeted from 63 to 43, clearly signaling a shift in market sentiment from "greed" to "fear." This typically signals increased short-term selling pressure and heightened uncertainty.
Macro Data
On August 19, the S&P 500 dropped 0.59% to 6,411.37, the Dow Jones gained 0.02% to 44,922.27, while the Nasdaq increased 1.46% to 21,314.95. As of 6:30 AM (UTC), spot gold was trading at $3323.6 per ounce, up 0.24% in 24 hours.
Trending Tokens
API3 API3 (+65.49%, Circulating Market Cap: $119.89 Million)
API3 is trading at $1.3, with a 24-hour increase of approximately 65.49%. API3’s stated goal is to allow decentralized versions of APIs to be built, managed and monetized at scales. As blockchain technology plays an ever bigger role in the economy — from decentralized finance to supply chain management — the team behind this project says it has never been more important for smart contracts to provide “timely, reliable real-world data.” API3’s 19 August listing on Upbit with KRW trading pairs triggered a 100%+ price spike, peaking near $1.85. South Korean retail traders often drive volatility for newly listed assets, as seen in the 24h volume surge to $953M (+445%). Regional exchange listings can create immediate liquidity shocks, especially for mid-cap tokens like API3. The KRW pair’s dominance on Upbit suggests localized FOMO, though sustainability depends on broader adoption. API3’s oracle integrations with Aurora’s blockchain deployment platform (Aurora) and QuickSwap’s perpetuals DEX (QuickPerps) expanded its utility. These partnerships validate API3’s first-party oracle model against competitors like Chainlink, attracting developers seeking modular data solutions. Increased protocol usage could drive long-term demand for API3 tokens.
OGN Origin Protocol (+17.29%, Circulating Market Cap: $47.83 Million)
OGN is trading at $0.07082, with a 24-hour increase of approximately 17.29%. Origin Protocol is one of Ethereum’s longest-standing DeFi projects, featuring a multichain feature set that unlocks vast opportunities for yield generation across the space. Origin’s products are built to be permissionless and composable, allowing for deep integration with novel primitives. All of Origin’s products streamline rewards to OGN stakers, cultivating a sustainable, user-first offering. On July 14, Origin Protocol announced plans to double weekly OGN buybacks to ~$200K starting July 21, funded by protocol revenue and DAO treasury assets (Origin Protocol). This follows June’s approval to allocate 100% of protocol revenue (from OETH, OUSD, etc.) to buybacks. If Origin Protocol products such as OETH (a liquid staking token) and OUSD (a stablecoin) continue to attract capital inflows, the generated protocol revenue will be directly used to repurchase OGN, forming a flywheel that supports value. In early and mid-August, the OGN/USDT trading pair broke through key resistance levels, accompanied by a significant increase in trading volume, boosting market sentiment.
MEME Memecoin (+8.72%, Circulating Market Cap: $115.55 Million)
MEME is trading at $0.002204, up approximately 8.72% in the past 24 hours. MEME is a satirical take on cryptocurrency, openly disclaiming utility in its
whitepaper. It exists as a digital collectible tied to meme culture, reflecting 9GAG’s shift into Web3 through Memeland. The project distances itself from conventional crypto narratives, focusing instead on humor and community engagement. Bloomberg analyst Eric Balchunas suggested a U.S. memecoin ETF could launch by 2026 (Bloomberg), citing regulatory shifts and DOGE’s potential as a precedent. While MEME isn’t directly named, the narrative lifted sentiment across the sector. Memecoins thrive on hype cycles, and ETF rumors create a “rising tide” effect. MEME’s low market cap ($115M) makes it sensitive to sector-wide momentum shifts. However, regulatory hurdles remain, and no concrete MEME-specific developments were cited.
Market Insights
Ripple Extends $75M Credit Facility to Gemini as Exchange Pursues IPO
Gemini’s long-awaited IPO filing drew fresh attention to payments giant Ripple, with the exchange disclosing a $75 million credit line from the company alongside a steep financial loss.
In documents submitted to the U.S. Securities and Exchange Commission (SEC) on Aug. 15, Gemini revealed a $282.5 million net loss for the first half, an almost seven-fold increase from the $41.4 million shortfall a year earlier. Revenue fell to $67.9 million from $74.3 million.
The filing puts Gemini, which plans to use the ticker "GEMI" on Nasdaq, in line to become the third crypto exchange to trade publicly in the U.S. after Coinbase (COIN), which debuted on Nasdaq in 2021, and Bullish (BLSH), the owner of CoinDesk, whose shares listed on the New York Stock Exchange a week ago.
Bitmine Becomes 2nd Largest Crypto Treasury Company: Now Holding $6.6B In Ethereum
BitMine, a publicly traded company renowned for its bold treasury strategy, has officially become the second-largest crypto treasury company in the world. The firm now holds more than $6.6 billion worth of Ethereum (ETH), totaling 1.52 million tokens — a staggering 1.26% of the total ETH supply.
This milestone underscores BitMine’s aggressive accumulation strategy, which has set it apart from other institutions and corporate treasuries in the crypto space. What makes this move even more significant is BitMine’s long-term vision: the company has set a target of holding 5% of Ethereum’s total supply, meaning they are already 25% of the way toward their ambitious goal.
The announcement sends a strong signal to markets and institutional investors. Ethereum’s growing role as both a financial and technological backbone of Web3 is attracting corporations to treat ETH not just as an asset, but as a strategic reserve. BitMine’s approach mirrors the conviction once seen in Bitcoin-focused treasury strategies, but it places Ethereum front and center in the evolving digital asset economy.
Polkadot Eyes Wall Street Investors to Close Gap With Ethereum, Solana
Polkadot is moving to reposition itself in the current bull market by introducing a dedicated unit to bridge its ecosystem with institutional capital.
On Aug. 19, the network announced the launch of Polkadot Capital Group, a capital markets-focused division designed to attract Wall Street investors and build stronger ties with traditional finance. According to the network team, the initiative aims to capitalize on recent developments, including the growing crypto demand from institutional players and increasing clarity in the US regulatory environment. The Polkadot team stated that the Polkadot Capital Group will help traditional finance participants navigate the network and identify investment opportunities.
Reference:
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Farside Investors. (n.d.-a). Bitcoin.
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Farside Investors. (n.d.-b). Ethereum.
https://farside.co.uk/eth/
Investing.com. (n.d.-a). USA Indices.
https://investing.com/indices/usa-indices
GoldPrice.org. (n.d.).
Spot gold price today. Retrieved August 11, 2025, from
https://goldprice.org/spot-gold.html
Patru, B. (n.d.). Bitmine Becomes 2nd Largest Crypto Treasury Company. Bitcoinist.
https://bitcoinist.com/bitmine-becomes-2nd-largest-crypto-treasury-company/
Staff. (2025, August 19). Ripple Extends $75M Credit Facility to Gemini as Exchange Pursues IPO. Coindesk.
https://www.coindesk.com/business/2025/08/19/ripple-extends-usd75m-credit-facility-to-gemini-as-exchange-pursues-ipo
Fastbull. (n.d.). Polkadot Eyes Wall Street Investors to Close Gap. Fastbull.
https://www.fastbull.com/news-detail/polkadot-eyes-wall-street-investors-to-close-gap-4340362_0
CoinCatch Team
Disclaimer:
Digital asset prices carry high market risk and price volatility. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance. CoinCatch is not responsible for any losses that may occur. This article should not be considered financial advice.
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