Aug 5, 01:41 PM

Bitcoin Near $114,000 Amid ETH ETF Inflows, Tom Lee’s $3B ETH Position, SEC Guidance, and Trump’s Crypto Bank Protection Order

Cryptocurrency markets experienced notable activity with Bitcoin trading around $113,400 to $114,800 and Ethereum seeing record ETF inflows. Institutional investors have been buying the dip in Bitcoin, while Ethereum treasuries surged. Tom Lee's BMNR disclosed an 830,000 ETH position valued at approximately $3 billion. The U.S. Securities and Exchange Commission (SEC) issued temporary guidance on stablecoin accounting, which has eased some regulatory concerns within the crypto sector. Additionally, former President Donald Trump is set to issue an executive order aimed at protecting cryptocurrency firms from bank discrimination, signaling a potential shift in regulatory support for the industry. Other market developments include Binance Alpha planning to list TaleX and Superp tokens on August 7, Robin Energy's purchase of $3 million in Bitcoin, and a whale acquisition of 6.72 million MYX tokens valued at $4 million. Litecoin reached a five million high, and Chainlink is gaining recognition as a significant technology player. The broader crypto landscape is also influenced by ongoing stablecoin regulation, Project Crypto rollout, and traditional finance's increasing engagement with on-chain activities.