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Rate expectations shifted, a few tokens broke out for real reasons, and crypto’s intersection with traditional finance got a little more interesting. Here’s what happened this week:
quick weekly news
Bitcoin climbs back above $77,800 as Fed hike odds slide to 62%
Bitcoin traded just above $77,800 in Asian morning hours Thursday, up roughly 1.5% over 24 hours after touching $76,400 in late U.S. trading, within $50 of the $76,350 average cost basis of active network investors, a level that absorbed breakeven sellers all week before buyers stepped in.
Source: goodcryptoX
XRP led the majors at $1.36, up almost 3%. BNB added nearly 2% to just under $692, SOL held the $100 line, and HYPE was flat just above $82. ETH lagged at just under $2,400. Over the past seven days, ETH is down nearly 4%, with ZEC and HYPE the only majors holding weekly gains, per goodcryptoX data.
Renewed U.S. strikes near the Strait of Hormuz pushed crude sharply higher and revived the inflation trade, dragging the ten-year Treasury yield to just above 4.8%, its highest close since 2023. Equities took it in stride, with the S&P 500 closing at 7,646 and gold near $4,418.
CME FedWatch now puts September hike odds at just above 60%, down from 67% a day earlier and roughly 37% a week ago before Warsh’s Jackson Hole speech. Friday’s payrolls report settles the September meeting – a miss stacked on Wednesday’s weak ADP number could pull hike odds lower and put $80,000 back in play.
Strategy spends $635M buying back STRC as its preferred stock stays below par
Strategy has now spent $635.2M buying back STRC, and the stock is still trading at $97.13, short of its $100 par value. The company introduced a $1B repurchase authorization that has helped lift STRC from a low of around $71, with the latest purchase alone totaling $151.8M at an average of $97.48.
Source: goodcryptoX
Part of the challenge is competition. Strive’s perpetual preferred stock, SATA, offers a 13% annualized dividend rate paid daily, versus STRC’s 12% paid semi-monthly. SATA has held at par for more than a week, allowing Strive to issue new shares and fund purchases of 1,800 BTC over the past week. ASST shares are up 60% year to date against MSTR’s 15% decline.
On the Bitcoin side, Strategy returned to buying for the first time in two months, acquiring 4,603 BTC for $369.7M at around $80,000, bringing total holdings to 845,050 BTC worth roughly $65.9B.
Source: X
Robinhood is beating Ethereum in daily revenue and sending Arbitrum’s token soaring
ARB surged more than 30% over 24 hours to around 13 cents, breaking out of the 7–10 cent range that had held since June. The catalyst was a sharp ramp-up in activity on Robinhood Chain, the Ethereum layer-2 Robinhood launched July 1 using Arbitrum’s technology stack.
Source: goodcryptoX
Robinhood Chain generated $4.01M in revenue over 24 hours, more than any other blockchain, according to DefiLlama, ahead of Canton at $1.69M and Tron at $873,000. More than two-thirds of the chain’s 30-day total arrived in the past week alone.
Source: DefiLlama
The ARB connection is structural. Under the Arbitrum Expansion Program, chains built with the Arbitrum stack pay 10% of chain profit back to the ecosystem: 8% to the ArbitrumDAO treasury and 2% to a developer guild. The DAO received $175,612 over 24 hours and $531,641 over 30 days from Robinhood Chain alone.
The price move looks better supported than a typical altcoin pump. ARB saw $618M in volume over 24 hours, an eightfold increase, and the token has tracked onchain activity more closely than it did in recent months. That said, the gap between cash flow and market cap repricing is real. ARB added roughly $170M in market cap on a revenue share that has delivered $531,641 to the treasury over a month. Turning that income into tokenholder value would require a governance vote, and none has been proposed yet.
Ethena pushes into everyday banking with high-yield savings, cards, and payments
Ethena launched Ethena Pay on Apple’s App Store Tuesday, a consumer finance app packaging stablecoins into something that looks a lot like a bank account.
Source: X
The product combines a 6% dollar savings rate, 5% cashback on card spending, free onramps for dollars, pounds, euros, local currencies, and fiat IBANs linked to self-custodial stablecoin accounts. Ethena is pitching it as an “internet money neobank.” It also includes a feature called “Buy Now Pay Never”, using savings rewards to cover purchases without touching the user’s principal.
ENA rallied 9% following the announcement, outperforming flat broader markets.
Source: goodcryptoX
The move extends a rapid expansion beyond the crypto basis trade that originally powered USDe’s yield. Last week, Ethena overhauled ENA’s tokenomics and outlined plans to use equity perpetuals as another yield source. Earlier this year, it launched a savings product with Coinbase across 100M users. Ethena Pay connects those savings products directly to payments, letting users hold, earn, spend, and transfer in one place without moving funds between a crypto wallet, exchange, and bank account.
Avalanche was picked as the exclusive settlement network for the product. Access is limited for now: 400 early-access users with weekly expansions planned through September beta.
Chart patterns explained – your complete guide to reading the market
Candlestick patterns show you what’s happening inside a single candle. Chart patterns show you the bigger story: where the market is building momentum, where it’s losing it, and where the next major move is likely to come from.
Here’s what the full guide covers:
- Reversal patterns in depth: How to read Double Top, Double Bottom, Cup and Handle, Diamond, Rising and Falling Wedge patterns to spot potential reversals;
- Continuation patterns explained: How to find Bull and Bear Flags, Pennants, Triangles, and Rectangles, to confirm a trend is resuming rather than reversing;
- How to draw and trade them in practice: step-by-step chart examples from goodcryptoX, including price target projection for every pattern type.
The full breakdown, with a free downloadable cheat sheet, is right here 👇
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top crypto meme of the week
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