Coinbase Sees Ethereum Rally on Regulatory Tailwinds as XRP Corrects

Ethereum (ETH) gained 1.66% to $3,648, driven by regulatory Optimism and technical momentum. Key catalysts included BlackRock's innovative ETF proposal (combining spot exposure with staking yields) and the July 18 enactment of the GENIUS Act, which bolstered stablecoin market confidence. U.S. Ethereum ETFs recorded a 40% year-over-year asset surge to $14.87 billion, reflecting institutional demand. Meanwhile, XRP dipped 1.05% to $3.42 as traders locked in profits following a 23% weekly surge, with TRON also facing selling pressure. The divergence highlights Ethereum's strengthening fundamentals amid evolving crypto regulations.

Ethereum Surges with Regulatory Boosts While Profit-Taking Sways XRP and TRON

Ethereum (ETH) rose 1.66% to $3,648, buoyed by regulatory tailwinds and a technical breakout. BlackRock's ETF application combining spot and staking returns fueled optimism, while the GENIUS Act's July 18 implementation reinforced stablecoin confidence. U.S. ethereum ETFs saw assets surge 40% MoY to $14.87 billion.

XRP fell 1.05% to $3.42 as traders took profits after a 23% weekly rally. Pressure mounted after 25.5 million XRP ($70 million) moved to Coinbase. TRON (TRX) dropped 1.52% to $0.3197, rejected at the 0.316 resistance level amid dwindling volume and regulatory scrutiny over USDT's $80 billion footprint on its network.

Coinbase Hacker Aggressively Accumulates Ethereum Amid Market Surge

A hacker linked to one of Coinbase's largest data breaches has been aggressively accumulating Ethereum (ETH) as prices surge. In July, the attacker purchased 649.62 ETH for $2.31 million at an average price of $3,561 per token, following an earlier acquisition of 4,863 ETH for $12.55 million in the same month. The wallet, identified by blockchain analytics platform Lookonchain, previously sold 26,762 ETH in May for $69.25 million before reversing course to buy back into the market.

The hacker's portfolio, built at an average cost of $2,600 per ETH, now holds millions in unrealized gains as Ethereum's price exceeds $3,700—a 40% monthly increase. Transactions were primarily executed via the CoW Protocol, a strategy likely aimed at reducing visibility and minimizing slippage. The MOVE signals a calculated bet on Ethereum's bullish momentum, aligning with broader market optimism.

The breach, enabled by a now-patched security flaw, initially caused over $300 million in damages. Despite the illicit origins of the funds, the hacker's trading activity underscores Ethereum's growing appeal as a high-value asset in volatile markets.