Tether's CEO calls gold "natural Bitcoin" and plans to invest heavily in the gold industry. —After all the twists and turns, we're back to natural currency. 🤣

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ETH reserves on trading platforms currently stand at approximately 17.4 million, a three-year low. According to CryptoQuant, ETH reserves on trading platforms have fallen by nearly 10.7 million since peaking at approximately 28.8 million in September 2022. Currently, reserves stand at approximately 17.4 million ETH, with approximately 2.5 million ETH withdrawn from trading platforms in the past three months alone. Data shows that the spot ETH ETF, launched in July 2024, has attracted over $13 billion in net inflows to date.

Bridgewater Associates Founder: The US dollar's distressed debt situation indirectly drives gold and cryptocurrency prices higher. Bridgewater Associates founder Ray Dalio published an article today discussing stablecoins and cryptocurrencies. His key points include: 1. He does not believe that deregulating cryptocurrencies will threaten the US dollar's reserve currency status. However, the distressed debt situation of the US dollar and other reserve currency governments does affect their attractiveness as reserve currencies and storeholds of wealth, which has been one of the factors driving the price increases of gold and cryptocurrencies. 2. He does not believe that stablecoins' exposure to Treasury bonds poses a systemic risk. The real risk lies in the decline in the actual purchasing power of Treasury bonds, which should not pose any systemic risk if stablecoins are well regulated. 3. Cryptocurrencies are currently an alternative currency with a limited supply. Therefore, all things being equal, if the US dollar money supply increases and/or demand for it decreases, this could make cryptocurrencies an attractive alternative.

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Tom Lee: ETH will rise to $5,500 in the coming weeks, with potential seasonal weakness in September, reaching $10,000-12,000 by year-end. BitMine Chairman Tom Lee believes that the crypto market's major performance typically occurs in the fourth quarter, making the second half of the year particularly crucial. While September may see seasonal weakness and a price correction, historical experience shows that every correction since 2022 has been a buying opportunity, not a market top.

According to on-chain analyst Ember, BitMine (BMNR) has received 131,736 ETH ($591 million) from three institutional platforms, including BitGo, Galaxy Digital, and FalconX, over the past 12 hours. Including these ETH purchases this week, BitMine now holds 1.845 million ETH ($8.54 billion), at an average price of approximately $3,868.