Kraken Reports Bitcoin Momentum Dip as Ethereum Eyes $4K Amid GENIUS Act Boost

Bitcoin concluded July with tempered momentum after reaching a record high earlier in the month, as noted by Kraken's OTC desk. Ethereum, however, stole the spotlight with a 56% monthly surge, decisively breaking past the $2,813 resistance level that had held for over a year. The passage of the GENIUS Act and growing institutional BTC treasury investments helped counterbalance selling pressure, including from Galaxy's significant divestment. As of August 2025, Ethereum's rally positions it for a potential $4,000 milestone while Bitcoin consolidates.

Bitcoin Closes July with Softened Momentum as Ethereum Sets Sights on $4,000

Bitcoin retreated slightly after notching a fresh all-time high earlier in July, with Kraken's OTC desk noting diminished momentum heading into August. Meanwhile, ethereum surged 56% monthly, breaking decisively above the $2,813 pivot that had constrained prices for over a year.

The GENIUS Act's passage and institutional accumulation through BTC treasury vehicles helped offset selling pressure from Galaxy's 80,000 BTC liquidation. "This resilience stems from continuous ETP inflows," observed K33 Research.

Ethereum's technical breakout now targets the $4,000 resistance zone, though macroeconomic factors—including impending Trump-era tariffs—may inject short-term volatility. Kraken's analysts confirm the structural shift: "The $2,813 ceiling had held for 12 months. Its breach opens a clear path upward."

Assetera Launches MiFID-Compliant API for Tokenized Securities Market Access

Assetera, an Austrian-regulated trading platform, has unveiled an API enabling cryptocurrency exchanges to integrate tokenized financial products—including stocks and government bonds—without securing their own MiFID licenses. The solution addresses regulatory hurdles in Europe, where stringent rules have stifled crypto platforms' ability to offer such assets.

The API supports 60+ tokenized securities at launch, spanning U.S. Treasuries, equities, and ETFs, with compatibility for tokens from Backed Finance and other issuers. Assetera handles all compliance, from KYC to AML checks, ensuring adherence across 30 EU/EEA jurisdictions.

The MOVE follows Backed Finance's recent xStocks launch on Kraken, signaling accelerating demand for tokenized securities. "This dismantles the exclusivity of giants like Robinhood and Gemini," Assetera noted, positioning the API as a democratizing tool for exchanges of all sizes.

Ripple CTO Clarifies Kraken's XRP Delisting Was Driven by Legal Concerns, Not Personal Bias

David Schwartz, Ripple's Chief Technology Officer, has intervened in speculation surrounding Kraken co-founder Jesse Powell's stance on XRP. Contrary to claims that Powell harbored animosity toward the digital asset, Schwartz asserts the delisting decision stemmed from regulatory uncertainty rather than personal sentiment.

The discussion originated from a casual Twitter poll about Ripple's potential IPO before veering into allegations about Powell's purported dislike of XRP. Schwartz countered these claims, emphasizing that crypto industry participants routinely navigate complex legal landscapes that inform their business decisions.

Kraken's historical position on XRP reflects broader industry challenges as exchanges balance innovation with compliance. Powell has consistently cited regulatory ambiguity as the primary factor in exchange policy decisions, a stance Schwartz's comments now corroborate.