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CoinCatch Market Daily Report (August 4, 2025)
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2025-08-04 | 10m
On August 4, Bitcoin stabilized following a dip, rebounding to approximately 114,467.18 USDT. Ethereum is nearing a significant resistance level around 3,542.26 USDT. Fluid has surpassed Uniswap in 24-hour trading volume on the Ethereum mainnet for the first time. Stablecoin Market Adds $1.78 Billion in Value Last Week, Up 0.67%. Additionally, Hong Kong Launches RWA Platform, Boosting Digital Asset, making a legal step along with CFTC, SEC, which launched “Crypto Sprint” with 18 key reforms to regulate digital assets.
Crypto Market Overview
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BTC (0.75% | Current Price: 114,477 USDT): BTC recently declined sharply from the 119,000 USDT high, breaking through the key 115,000 USDT support level. It then entered a consolidation phase between 112,000 and 114,000 USDT, attempting to find support and form a bottom. The price has since stabilized and rebounded to around 114,689.8 USDT. The 112,000 USDT level acts as a critical support zone for sustaining the rebound, while 115,000 USDT is the main resistance level — a successful breakout above it could open up further upside. On August 1, BTC ETFs saw a net daily outflow of $812.3 million, including $2.6 million from BlackRock’s IBIT and $331 million from Fidelity’s FBTC.
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ETH (2.84% | Current Price: 3,544 USDT): Earlier this week, ETH experienced a noticeable correction and entered a consolidation phase after reaching a local low, as it endeavored to establish a stable base. The current trend indicates possible a breakout to the upside, with the price approaching a significant resistance level near 3,534.26 USDT. This level has historically served as strong support and may now function as resistance. A breakout accompanied by increased volume could potentially lead to further upward movement. On August 1, ETH ETFs had a net outflow of $152 million, with Fidelity’s FETH accounting for $6.2 million.
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Altcoins: Most major altcoins saw a rebound and remained positioned for potential continued upward movement in the short term. The Fear & Greed Index currently reads 64, indicating a state of “Greed,” suggesting optimistic sentiment, though overheating risks should be monitored.
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Macro: On August 1, the S&P 500 fell 1.60% to 6,238.01 points; the Dow Jones declined 1.23% to 43,588.58; and the Nasdaq dropped 2.24% to 20,650.13. As of 2:30 AM (UTC) on August 4, spot gold was trading at $3,353 per ounce, down 0.28% over the past 24 hours.
Top Gainers
SPK Spark (+23.67%, Market Cap $125.73 Million)
SPK token is currently priced at $0.1149, up 23.67% in the last 24 hours. Spark is an onchain capital allocator, with $3.86B deployed across DeFi, CeFi, and RWA. It unlocks capital efficiency at scale, auto-balancing allocations based on market conditions while maintaining a conservative risk profile.
Binance announced SPK’s inclusion in its Flexible Rate Loans and VIP Loan products on August 1, allowing users to borrow against SPK holdings. This integration enhances SPK’s utility, attracting demand from traders and institutions seeking leverage. Historical data shows such listings often trigger short-term price spikes due to liquidity influx and perceived credibility
MAGIC Treasure (+22.44%, Circulating Market Cap: $61.82 Million)
MAGIC is currently priced at $0.2006, up 22.44% in the last 24 hours. Treasure is building the future of AI-powered entertainment with its native token, MAGIC, which fuels a diverse suite of AI-driven products spanning AI agent technology and infrastructure, first-party games, and an AI Agent Marketplace. Treasure is focused on four core products: AI agent scaling technology (Neurochimp and Mastermind), Smolworld, Bridgeworld Canopy, and an AI Agent Marketplace. MAGIC’s rally combines technical momentum, strategic supply constraints, and AI gaming hype – though its 21.6% move slightly lagged the July 9 surge (+50%), suggesting more measured participation this time. With the Altcoin Season Index rising 70.83% in 30 days, MAGIC might can sustain momentum if BTC dominance rebounds from 61.22%.
ENA Ethena (+13.76%, Circulating Market Cap: $3.93 Billion)
ENA is currently priced at $0.6184, up 13.76% in the last 24 hours. Ethena is an Ethereum-based synthetic dollar protocol that issues USDe, a novel stablecoin not backed by fiat reserves but instead collateralized through staked ETH and short futures positions.
As Bitcoin and the broader crypto market rebound, investor sentiment has notably improved, triggering a strong altcoin rally. Ethena has particularly benefited from this trend, with its TVL recently soaring to a new all-time high of $9.4B, reinforcing the bullish fundamentals for ENA.Technically, ENA has staged a powerful V-shaped reversal from its recent lows, supported by aggressive dip-buying. The price action has since formed higher lows and higher highs, establishing a clear uptrend channel. ENA is now testing a key resistance level around $0.6249, a previous local high. Whether the token can break and hold above this line will be critical to confirming the continuation of its bullish momentum.
Market Insights
Fluid Surpasses Uniswap in 24-Hour Ethereum Mainnet Trading Volume
According to the latest data from DeFiLlama, decentralized exchange Fluid recorded $1.432 billion in trading volume on the Ethereum mainnet over the past 24 hours, surpassing the long-dominant Uniswap, which posted $1.335 billion. This marks the first time Fluid has led the Ethereum mainnet in daily trading volume, signaling its rapidly increasing user activity and market traction.
Fluid’s ability to temporarily outpace Uniswap—despite the latter’s entrenched market position—suggests a breakthrough in areas such as product design, user experience, or liquidity incentives. In a recovering DeFi market where users increasingly value efficient execution and minimal slippage, Fluid’s rise points to a shifting competitive landscape within Ethereum DeFi.
While this performance reflects growing momentum, Fluid’s long-term potential depends on its ability to maintain volume leadership, attract deep liquidity, and retain users over time. A single-day spike is noteworthy, but sustained success will require building competitive moats and fostering ecosystem stickiness.
CFTC, SEC Launch “Crypto Sprint” with 18 Key Reforms to Regulate Digital Assets
The U.S. Commodity Futures Trading Commission (CFTC) is moving forward with a “crypto sprint” to address 18 recommendations from the White House’s President’s Working Group on Digital Asset DAAQ Markets, aiming to clarify the regulatory landscape for cryptocurrencies and foster innovation in digital asset markets. In collaboration with the U.S. Securities and Exchange Commission (SEC), the CFTC is tasked with developing coordinated rulemaking and regulatory sandboxes to streamline crypto services and enhance investor protections. Acting CFTC Chair Caroline Pham emphasized that the initiative is a step toward making the U.S. the global leader in crypto markets.
The White House recommendations include guidance for the CFTC on classifying cryptocurrencies as commodities and updating registration requirements for decentralized finance platforms. The CFTC is also exploring amendments to accommodate blockchain-based derivatives, ensuring that regulatory frameworks evolve alongside market developments. These efforts reflect a broader strategy to modernize regulations in line with technological advancements in the crypto sector.
To advance this agenda, the CFTC has already engaged with industry leaders and removed outdated advisories. Recent consultations on 24/7 derivatives trading and perpetual contracts demonstrate its commitment to fostering a “Golden Age of Crypto,” as stated by Pham. The agency is also preparing to welcome Brian Quintenz, a former global head of policy at Andreessen Horowitz’s crypto venture firm, who is expected to drive forward the CFTC’s regulatory initiatives once confirmed.
The joint efforts between the CFTC and SEC aim to create a unified approach to crypto regulation, enabling firms to offer multiple services through integrated platforms while reducing regulatory redundancies. This collaboration is expected to provide greater clarity for market participants and promote innovation in a secure and transparent environment. The White House’s comprehensive roadmap highlights the importance of interagency coordination, regulatory modernization, and industry engagement to shape a sustainable crypto ecosystem.
Stablecoin Market Adds $1.78 Billion in Value Last Week, Up 0.67%
According to data from DeFiLlama, the total market cap of stablecoins has reached $267.405 billion, representing a weekly increase of $1.78 billion, or 0.67%. Tether (USDT) continues to dominate, maintaining a 61.61% share of the stablecoin market.
The steady growth in stablecoin supply is often viewed as an early sign of capital re-entering the crypto market. In a relatively sideways trading environment, investors appear to be using stablecoins as a vehicle for cautious positioning and capital preservation. The rising dominance of USDT highlights its central role in liquidity and risk-off strategies.
That said, the increase remains moderate and not yet indicative of a full-scale trend reversal. This suggests market sentiment is gradually improving, but still in a phase of cautious optimism. Continued inflows from stablecoins into risk assets will be a key indicator for the potential start of a broader market rally.
Hong Kong Launches RWA Platform, Boosting Digital Asset Tokenization 2.654% Drop in RWA Inc.
RWA Inc.'s latest price was $0.01126, down 2.654% in the last 24 hours. The Hong Kong Web 3.0 Standardization Association is set to launch the Hong Kong RWA Registration Platform on August 7, 2025, marking a significant advancement in digital asset DAAQ tokenization and financialization efforts. This platform underscores Hong Kong's growing role in digital innovation, promising expanded opportunities in the blockchain and DeFi sectors. The initiative aims to enhance asset tokenization efficiency by establishing a systematic approach to digital asset lifecycle management. The Hong Kong RWA platform could pave the way for similar projects globally by establishing a precedent in digital asset registration. Insights from the Coincu research team suggest that Hong Kong’s RWA platform may trigger further technological integration in tokenization. Historical trends highlight Hong Kong's role in digital asset regulation, but official positions remain undeclared, leaving room for future developments. The platform is set to provide a comprehensive service for RWA tokenization, although detailed information regarding key partnerships or technical specifics is currently sparse. While the project has not yet garnered significant commentary from industry leaders, Hong Kong's reputation as a tech innovation hub suggests notable interest. Official feedback from regulators or major financial institutions FISI has not been disclosed, but the potential global impact on digital asset registration is significant.
References:
AInvest. (2025, August 3).
CFTC launches crypto sprint to implement White House regulatory guidance.
https://www.ainvest.com/news/cftc-launches-crypto-sprint-implement-white-house-regulatory-guidance-2508/
DeFiLlama. (n.d.).
Decentralized exchange liquidity: Ethereum chain. Retrieved August 4, 2025, from
https://defillama.com/dexs/chain/ethereum
DeFiLlama. (n.d.).
Stablecoins circulating supply and reserves. Retrieved August 4, 2025, from
https://defillama.com/stablecoins
Farside Investors. (n.d.).
Bitcoin ETF daily flows. Retrieved August 4, 2025, from
https://farside.co.uk/btc/
Farside Investors. (n.d.).
Ethereum ETF daily flows. Retrieved August 4, 2025, from
https://farside.co.uk/eth/
Investing.com. (n.d.).
USA indices: Real-time quotes and charts. Retrieved August 4, 2025, from
https://investing.com/indices/usa-indices
Investing.com. (n.d.).
XAU/USD (gold vs. US dollar) live price. Retrieved August 4, 2025, from
https://investing.com/currencies/xau-usd
SignalPlus. (2025, August 3).
Hong Kong RWA registration platform launch. Crypto News.
https://t.signalplus.com/crypto-news/detail/hong-kong-rwa-registration-platform-launch
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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