Weekly Recap | BTC Hits $118K Before Pullback, ETH ETFs Surge, and New Echobit Campaigns Go Live
2025.08.18
Weekly Recap (Aug 11 - Aug 17)
Last week, the crypto market saw cautious sentiment amid mixed macro signals. U.S. July PPI surprised to the upside at +3.3% YoY and +0.9% MoM — the largest monthly gain in three years — dampening expectations for a September Fed rate cut.
Bitcoin briefly broke to a new high of $118K on the back of institutional flows, corporate treasury allocations, supportive U.S. policy signals, and even sovereign-level accumulation, before seeing a mild pullback.
BTC dominance dropped to 59.4%, while altcoin market cap rose 3.06% over the week. Stablecoins also expanded, with total market cap reaching $276.9B (+2.18% WoW, per DeFiLlama). This week, the Fed’s FOMC minutes and Powell’s Jackson Hole remarks will provide key policy signals.
Let’s review the key events of the past week and preview what’s ahead.
Market Pulse
- Ethereum reserves across ETFs and institutional holdings surpassed 10M ETH.
- Standard Chartered revealed Norway’s sovereign wealth fund added 83% more BTC in Q2.
- Over 788K ETH are queued to exit the PoS network, while $1.16B worth of ETH await entry.
- Bitmine raised its ETH allocation target to $20B.
- SEC 13F filings showed two Ivy League universities hold nearly $130M in BTC.
- Crypto fundraising in 2024 has already reached $20.6B (CryptoRank).
- ETH spot ETFs saw $2.85B net inflows, a record high.
Funding & M&A
15 deals closed last week, with total funding above $150M, mostly in DeFi and infrastructure:
- USD.AI raised $13M Series A led by Framework Ventures.
- Shrapnel developer secured $19.5M led by Gala Games.
- 1Kosmos raised $57M Series B for biometric identity security.
- Zoth landed $15M from Bolts Capital to advance RWA tokenization.
- Mesh secured $9.5M in a new round, bringing total to $130M+, with PayPal Ventures & Coinbase Ventures backing.
- Transak raised $16M strategic round led by IDG Capital and Tether.
Policy & Compliance
- Fed removed special oversight requirements for banks’ crypto activities.
- 52 organizations, including the ABA, petitioned to amend the GENIUS Act.
- Citi exploring custody & settlement services for stablecoins and crypto ETFs.
- South Korea unveiled a 5-Year National Plan with initiatives to support the virtual asset industry.
Echobit Highlights
Echobit rolled out new campaigns and trading challenges, bringing fresh rewards and community engagement:
- UNIUSDT Futures: $20,000 Double Rewards.
- ENSUSDT Futures: $20,000 Double Rewards.
- New Spot Listing: $PROVE/USDT with 10,000 USDT prize pool.
- TREEUSDT Futures: $20,000 Double Rewards.
- August Carnival Season: Grand campaign with $50,000 USDT in prizes.
Looking Ahead (Aug 18 - Aug 24)
- Fed to release latest FOMC minutes.
- U.S. weekly jobless claims (Aug 16).
- Thailand to launch crypto exchange program for tourists (Aug 18).
- Brazil to hold a Bitcoin reserve hearing (Aug 20).
- Wyoming’s WYST stablecoin launch (Aug 20).
- HKEX to list two new spot VA ETFs (Aug 21).
Stay tuned with Echobit as we bring you critical market insights, policy trends, and investment opportunities—empowering every crypto user to navigate the market with confidence.