KEYTAKEAWAYS
-
X Layer TVL hit $88M before pulling back, doubling in a week, reflecting strong adoption but short-term volatility risk.
-
Ethereum treasury firms added 795K ETH, now holding over 2% supply; BMNR boosts buying power to $24.5B, showing strong institutional demand.
-
Ark Invest’s ARKK fund holds Coinbase, Robinhood, Bitmine, and Circle, underscoring continued conviction in crypto firms despite recent portfolio trims.
CONTENT
X LAYER NETWORK TVL SURGES
On August 18, according to L2Beat data, the X Layer network’s total value locked (TVL) broke through $88 million at 17:00 yesterday, reaching a new all-time high. It has since pulled back to $84 million but remains up 100% over the past week.
ANALYSIS
The record TVL highlights rapid adoption of X Layer, likely driven by growing activity on OKX’s Layer 2. A 100% weekly increase signals strong user and liquidity growth, though the quick retreat suggests volatility. Sustained inflows will be key to proving whether the momentum is structural or short-term speculation.
ETHEREUM TREASURY COMPANIES KEEP BUYING, DEMAND REMAINS STRONG
On August 18, Coinbase Institutional research head David Duong wrote on social media that “ETH demand is not over yet.” Since early August, leading Ethereum treasury reserve companies have accumulated over 795,000 ETH (about $3.6 billion), bringing their total holdings above 2% of ETH’s supply. In addition, BMNR raised $20 billion in new funds, boosting its total buying power to $24.5 billion.
ANALYSIS
Large-scale ETH accumulation by treasury firms underscores robust institutional demand. Controlling more than 2% of supply signals long-term confidence and removes liquidity from the market, potentially supporting higher prices. The BMNR fundraising adds even greater purchasing capacity. While this is bullish structurally, rapid inflows could increase short-term volatility if momentum stalls.
ARK INVEST’S ARKK FUND DISCLOSES LATEST CRYPTO HOLDINGS
On August 18, Ark Invest Daily reported the latest holdings breakdown for Cathie Wood’s ARKK fund: Coinbase at 6.28%, Robinhood at 3.84%, Bitmine at 3.22%, and Circle at 3.17%.
ANALYSIS
The allocation shows Ark Invest’s conviction in crypto-related companies, with Coinbase remaining the top holding above 6%. The presence of Robinhood, Bitmine, and Circle highlights exposure across exchanges, mining, and stablecoins.
While Ark has trimmed some positions recently, the overall allocation suggests it still views crypto firms as core growth drivers. Positive fund flows into ARKK could further benefit these companies.
