Weekly Recap | Bitcoin Reclaims $80K, Stablecoin Market Cap Hits New Highs, Echobit Launches Septemb
2026.09.08
Weekly Recap｜August 31 – September 6
Last week, the crypto market continued its rebound, with Bitcoin (BTC) reclaiming $80,000 and reaching its highest intraday level since May. Early in the week, the market remained supported by expectations of Federal Reserve rate cuts and improving risk appetite.
However, new macroeconomic pressure emerged in the second half of the week. U.S. nonfarm payrolls increased by 162,000 in August, with stronger-than-expected employment data reviving expectations that the Federal Reserve could maintain high interest rates or even consider further hikes. BTC subsequently fell back below $80,000.
This week, the crypto market enters an important macroeconomic data-testing period, with investors closely watching U.S. PPI and CPI data, the U.S. dollar, Treasury yields, and expectations for the Fed's September policy decision. Overall, BTC's underlying momentum remains relatively strong, but $80,000 has shifted from a simple upside target to a key battleground between bulls and bears. Continued ETF inflows indicate that institutional demand remains resilient, while macro policy uncertainty has increased.
This article takes a quick look back at the key developments in the crypto industry over the past week and previews the major trends and events to watch in the week ahead.
Market Pulse
- Bitcoin spot ETF flows showed mixed signals, with daily net inflows reaching as high as $731 million.
- Ethereum spot ETFs maintained strong inflows, recording approximately $824 million in net inflows last week.
- The total stablecoin market capitalization recovered to approximately $311 billion in August, while net stablecoin flows on exchanges turned positive for the first time in 113 days.
- Binance introduced more stock and ETF-related products, while the London Stock Exchange also plans to launch tokenized UK stocks.
- Ethena's fee switch proposal passed unanimously, paving the way for a programmatic ENA buyback mechanism.
- Crypto security incidents remained elevated, with approximately 50 major hacks recorded in August, resulting in losses of around $136 million.
- DeFi lending volume rose to approximately $26 billion, up nearly 30% from June.
Funding & M&A
The crypto industry recorded 10 funding and M&A deals last week, with total funding exceeding $280 million, primarily focused on infrastructure and DeFi:
- DeFi risk management protocol Firelight Protocol raised $8 million.
- Digital currency network Cari completed a $32.5 million initial funding round, with participation from First Horizon Bank and other financial institutions.
- Stablecoin cross-border remittance startup Felix Pago raised $200 million in a Series B round with participation from a16z.
- Prediction market platform Polymarket raised $1 billion in a new funding round, led by 1789 Capital, which invested approximately $300 million.
- On-chain banking platform OpenReserve raised $25 million in a seed round led by a16z crypto.
Policy & Compliance
- The U.S. SEC Chair expects the CLARITY Act to receive a Senate vote on September 15.
- G20 finance ministers and central bank governors recognized the growth potential of digital assets.
- The Monetary Authority of Singapore is considering introducing a new stablecoin regulatory framework.
- Thailand has finalized its crypto asset Travel Rule, which is expected to take effect in February 2027.
Echobit Highlights
- Echobit August Futures Trading Competition continues to drive user engagement and trading activity.
- Echobit New User Exclusive Rewards continues to offer new users attractive rewards and participation opportunities.
- Echobit TradFi Futures Trading Campaign continues to expand diversified trading scenarios.
- Echobit BTC Spot Trading Leaderboard Challenge continues to encourage greater participation in spot trading.
- Echobit August Prediction King continues to bring a competitive market prediction experience to the community.
- Echobit BTC Monthly Closing Price Prediction invites users to forecast BTC's monthly market performance.
- Echobit Chat & Win continues to boost community engagement through interactive activities.
- Echobit August Activity Feedback Campaign launched to collect user feedback and improve the community experience.
- Echobit BTC Uptrend Interactive Campaign launched with market-themed community activities.
- Echobit Find The Hidden Trading Words continues to combine trading themes with interactive puzzles.
- Echobit September Futures Trading Competition officially launched, bringing new trading incentives to the community.
- Echobit September Trading Carnival launched alongside the new month, offering more trading rewards and participation opportunities.
- Echobit Weekly Hot Topic Discussion launched to encourage community discussion and market insights around trending topics.
- Echobit Token Watch & Buy launched, encouraging users to share the assets they are watching and their market views.
- Echobit September Market Surge Zealy Campaign officially launched, driving community participation through task-based activities.
- Echobit NFP Night Party returned with a community activity centered around the latest macroeconomic market developments.
- Echobit Emoji Trader Challenge launched, bringing a fun emoji-based experience to the trading community.
- Echobit BTC Weekly Closing Price Prediction launched, inviting users to forecast BTC's short-term price trend.
Next Week Preview｜September 7 – September 13
- Japan's Financial Services Agency will standardize cybersecurity reporting formats across 17 sectors, including crypto exchanges.
- Anthropic plans to release its IPO prospectus after the U.S. Labor Day holiday on September 7.
- Solana Foundation's VP of Technology said the V1 trading system is scheduled to launch on September 9, with block times set to decrease.
- Ondo Finance will stop minting USDY on Aptos and Noble starting September 8.
- The U.S. will release August PPI data, followed by August CPI and core CPI figures.
- BitMart is considering a restructuring plan as an alternative to full liquidation, with an update expected by September 9 at the latest.
- Chainalysis is suing the U.S. government over an exclusive contract.
- CME Group plans to launch 24-hour, around-the-clock silver trading on September 11.
Echobit will continue tracking global crypto developments, focusing on market movements, regulatory trends, and funding opportunities—helping you navigate every market cycle and stay ahead.