Point of View: Ethereum Price Action Shows Weakness But Has Not Peaked Yet, Merely in a Seasonal Trend

According to The Information, Sequoia Capital and asset management giant Wellington are in advanced negotiations to invest in prediction market platform Kalshi, with the deal valuing the company at approximately $40 billion. Wellington will become a new investor in Kalshi; the firm has previously made multiple investments in companies approaching the IPO stage. The relevant transaction has not yet been finalized.

Bitwise CIO Matt Hougan told Bloomberg in an interview that Bitcoin may have reached the bottom of its bear market, as recent negative developments—including the Coldcard wallet hack, Strategy Inc.’s Bitcoin sales, and stalled progress on the CLARITY Act—have failed to trigger a meaningful price drop. Hougan noted that the market’s ability to brush off bad news is a sign the bear market is ending, and he anticipates the approval of crypto ETFs by wealth management platforms and institutional inflows will serve as a catalyst for the next stage of upward momentum.

Per its official announcement, OKX will list DOS (DappOS) for spot trading. DOS/USDT spot trading will officially launch at 18:00 (UTC+8) on August 13, 2026; deposits are now open, and users can place advance orders one hour prior to the trading going live. It is reported that DappOS is an AI operating system for Web3, designed to integrate research and analysis, content creation, strategy planning and on-chain execution into a unified platform.

According to an official announcement, Bitget has added 25 new stock spot rTokens including rHPQ (Hewlett-Packard), rRL (Ralph Lauren), rBAP (Credicorp), rCTSH (Cognizant), and rDOW (Dow Chemical), covering sectors such as finance, consumer goods, and utilities. To date, the Bitget platform supports a total of 660 US stock tokens. It is understood that the rTokens, identified by the format "r + stock ticker" (e.g., NVIDIA is rNVDA), are issued by Reality, a licensed Real-World Asset (RWA) protocol under Bitget, and connect directly to global liquidity pools including the Nasdaq and New York Stock Exchange via a partnership with regulated broker Alpaca. Key features include: 1:1 reserve of underlying assets held by licensed custodians, 1:1 distribution of stock dividends in token form, synchronized mapping support for corporate actions (such as stock splits and consolidations), and the ability to use holdings as combined margin for unified accounts and USDT-denominated contracts, enabling users to flexibly manage funds while holding global stock assets.

Another gambler spotted! Someone created a new wallet, deposited $153K into Hyperliquid, and opened a 40x long on 97.92 $BTC($6.22M). Liquidation price: $62,825.14.

According to on-chain analytics firm Lookonchain, a wallet address created a new wallet, deposited $153,000 into Hyperliquid, and opened a 40x-leveraged long position on 97.92 BTC (valued at approximately $6.22 million), with a liquidation price of $62,825.14.