Coinbase Boosts Cosmos Ecosystem with Native Support for dYdX, ATOM Gains 3%

The Cosmos ecosystem is witnessing significant growth as institutional confidence builds, highlighted by Coinbase's recent announcement of native support for dYdX on the Cosmos network. This development has positively impacted ATOM, which saw a 3.4% surge over 23 hours, peaking at $4.43 before settling at $4.41. Meanwhile, Cronos (CRO) has outperformed ATOM with an impressive 76% monthly rally, driven by protocol upgrades and ETF speculation. The Cosmos ecosystem continues to gain traction, signaling a bullish outlook for its native tokens and broader adoption in the cryptocurrency space.

ATOM Gains 3% as Cosmos Ecosystem Attracts Exchange Support

ATOM demonstrated volatile trading in a one-hour window on August 7, peaking at $4.43 before settling at $4.41. The token's 3.4% surge over 23 hours coincided with Coinbase's announcement of native Cosmos network support for dYdX, signaling growing institutional confidence in the ecosystem.

Cronos (CRO) outpaced ATOM with a 76% monthly rally, fueled by protocol upgrades and ETF speculation. The Cosmos ecosystem is gaining traction as investors shift toward decentralized alternatives amid traditional market uncertainty.

Technical indicators show ATOM establishing strong support at $4.29, with bullish momentum likely to continue. The token broke key resistance levels on heavy volume, suggesting sustained upward potential.

U.S. Retirement Funds Can Now Include Bitcoin Following Trump Executive Order

President Donald TRUMP has signed an executive order permitting U.S. citizens to allocate portions of their 401(k) retirement savings to Bitcoin. This regulatory shift marks a significant milestone in cryptocurrency adoption, potentially channeling billions in long-term institutional capital into BTC markets.

The move follows Coinbase's recent inclusion in the S&P 500 index, further legitimizing digital assets. Galaxy Digital CEO Mike Novogratz notes these developments create structural demand for Bitcoin as a hedge against monetary inflation, with retirement fund flows likely establishing higher price floors through sustained buying pressure.

Concurrently, speculation grows around a potential U.S. Gold revaluation—a macroeconomic maneuver that could indirectly benefit Bitcoin's store-of-value narrative as global debt concerns undermine fiat currency stability.

NFTs Outpace DeFi in User Activity with $530M July Trading Surge

The NFT market has staged a dramatic comeback, flipping DeFi in user activity with $530 million in trades during July—a 96% monthly volume surge despite a 4% drop in transaction count. Average sale prices more than doubled to $105, signaling renewed speculative interest after the 2022 bear market lull.

Blur dominated Ethereum-based NFT trading with 80% market share, fueled by professional traders leveraging its Blend lending feature. OpenSea retained its lead in daily active users at 27,000, while Zora gained traction among creators on Coinbase's Base network—highlighting a bifurcated market between high-volume traders and long-tail retail participants.

Adult Entertainment Brand Fake Taxi Leads Creator Coin Boom on Zora's Base Platform

Reality porn company Fake Taxi has emerged as an unlikely leader in the creator coin space, with its FAKETAXI token reaching a $10 million market capitalization on Zora's Base-based platform. The U.K.-based adult film brand, generating approximately $8 million annually from content sales, now surpasses tokens from prominent creators like Jack Butcher and Zora co-founder Jacob Horne in market value.

Zora's pivot to creator coins on Coinbase's ethereum layer-2 network Base has catalyzed a surge of tokenized profiles, with thousands launched daily alongside competing platforms like Pump.fun and LetsBonk. The Fake Taxi coin offers holders exclusive perks and represents the adult entertainment industry's growing foothold in crypto-powered creator economies.

The platform's token launch mechanism automatically mints new assets for each profile and post, creating a competitive landscape where established brands with existing audiences gain immediate traction. Fake Taxi's decade-old brand recognition and revenue streams provide unusual fundamentals for a social token project in the typically speculative creator coin market.

Coinbase’s Base to Indefinitely Hold Viral Content Coins in Creator Economy Push

Coinbase's LAYER 2 network Base has unveiled a permanent retention strategy for content coins—tokens representing individual pieces of digital content. The platform will acquire these assets through its Base App, where creators earn fees on secondary sales without the network ever liquidating its holdings.

The initiative, announced via an Aug. 7 X post, explicitly rejects speculative motives. "Creators should be directly rewarded for creativity," Base stated, framing the MOVE as an experiment in value capture for digital artists. Payments will flow automatically to creators' wallets upon each transaction.

Content coins have gained traction on Base since integrating with Zora, a platform specializing in tokenized media. Base founder Jesse Pollak describes the assets as hybrid content-currency units deriving worth from cultural resonance rather than utility—a concept critics dismiss as memecoins repackaged. Pollak counters that global creators generate trillions in business value yet retain minimal proceeds.

Coinbase Implements USDC Conversion Fee Amid Revenue Pressures

Coinbase is introducing a 0.1% fee on USDC-to-USD conversions exceeding $5 million within 30-day periods, effective August 13. The move targets institutional and high-frequency traders, marking the first monetization of its stablecoin conversion service.

The policy shift follows disappointing Q2 results, with retail trading volumes dropping 39% and revenue missing analyst expectations. CEO Brian Armstrong framed the fee as a corrective measure for stablecoin arbitrage opportunities that previously favored USDC over Tether.

Net conversion volume calculations will exempt retail traders, focusing instead on large-scale off-ramping activity. This strategic adjustment reflects broader challenges in crypto market liquidity and exchange profitability.