Predict.fun announced the launch of its prediction market for the Honor of Kings KPL Summer Split.

Arthur Hayes told Laura Shin during a podcast appearance that ETH is one of the most despised large-cap altcoins in the market. As the second-largest cryptocurrency by market capitalization, it has yet to break through its 2021 all-time high. From a risk-reward standpoint, at least in how he manages portfolios at Maelstrom, ETH is currently his largest position outside of Bitcoin. “I’m not particularly worried about waking up one day to find ETH has gone to zero. Of course, that scenario could occur, but that risk is far lower compared to other cryptocurrencies, so I’m very comfortable allocating a large position to this trade. Since it has not rallied much in this cycle, I believe it has significant catch-up upside. Once it starts moving higher, the reflexive momentum train will kick in. There are so many people who want to go long ETH for various reasons, and there were very valid justifications for why they didn’t do so in past years,” Hayes noted. He added: “Once we break through the $3,000 level, I think you will truly see ETH’s rally get underway, and it could quickly surpass $5,000. My year-end target is within reach.”

According to market data from BIT (bit.com), multiple crypto-related stocks extended their rally after the US stock market opened, surging over 10% intraday: GEMI rose 10.03%, HOOD gained 12.98%, CRCL climbed 9.25%, and COIN increased 9.6%. The AI sector was relatively muted today with mixed performances. Storage stock SanDisk fell 0.34%, NeoCloud’s stock NBIS rose 2.78%, US-listed SK Hynix gained 1.85%, and optical communication concept stock LITE climbed 2.01%.

In response to Scott Bessent’s move to ramp up US Treasury bond repurchases, Bitwise CIO Matt Hougan wrote in an article: "When the government artificially suppresses long-term interest rates, it erodes the value of savings. Investors need to buy hard assets to get out of this predicament. Bitcoin is the fastest horse in this race."

The preliminary S&P Global Manufacturing PMI for the US in August came in at 53.2, against expectations of 53.9 and a prior reading of 53.9. The preliminary S&P Global Services PMI for the US in August stood at 56.8, compared with forecasts of 54 and a previous figure of 54.6.

Famous trader and chart analyst Peter Brandt, who accurately predicted the 2018 Bitcoin crash, posted yesterday that Bitcoin originally formed an inverted head-and-shoulders pattern and was in an overall downtrend, leading him to be bearish. However, the recent sharp rally has fully shifted Bitcoin’s pattern into a valid bottom. Brandt bluntly stated he “bought at the breakout, for better or worse.” On July 20, Peter Brandt noted that he expects Bitcoin’s current market cycle to bottom on October 4, 2026, and believes returns from investing in Bitcoin over the next two to three years may outperform those from AI stocks.

According to HTX market data, HYPE has broken through $77, currently trading at $77.02, approaching its all-time high.