Nexo Radar

For digital assets, the near-term remains macro-driven, but the medium-term outlook is supported by deepening institutional engagement and regulatory progress. — Iliya Kalchev, Nexo Dispatch analyst For informational purposes only; not financial or investment advice

Daily Market Dispatch – August 22, 2025 From momentum to maturity: Crypto steadies ahead of Jackson Hole Global markets are focused on the Fed’s annual symposium today, where Jerome Powell’s remarks could shape near-term sentiment and policy outlook. Crypto markets are easing back this week, with Bitcoin trading just under $113,000 and Ethereum hovering around $4,280 as investors take stock of recent gains and prepare for Powell’s speech at Jackson Hole today at 10:00 am ET. ETF flows turned negative after August’s high, reflecting a more cautious stance. Broader altcoins also edged lower. The total crypto market cap now sits near $3.83 trillion, a reminder that the pullback is more a consolidation of strong summer gains than a structural shift. The overall recalibration comes as markets reassess expectations for a September Fed cut. Probabilities, once near 100%, are now closer to 70%, setting the stage for volatility around Powell’s remarks. Beyond crypto, corporate news kept AI and tech in focus: Meta signed a $10 billion partnership with Google Cloud to scale its infrastructure. Gold has also softened, trading near $3,328/oz and heading for a second straight week of mild losses as the stronger dollar weighs. Bitcoin Bitcoin is consolidating after a strong summer run, trading around $112,900 on Friday and easing back nearly 4% this week as traders adjusted expectations for Fed policy. ETF flows have seen three consecutive sessions of outflows, suggesting some investors are locking in profits and adopting a wait-and-see approach ahead of Jackson Hole. Derivatives markets show greater demand for protective hedges, but the overall pattern aligns with Bitcoin’s familiar post-halving seasonality, where September often brings softer price action before renewed momentum into year-end. For now, high-for-longer rates are keeping liquidity contained, yet Bitcoin’s long-term positioning as a portfolio diversifier remains undiminished. Ethereum & Altcoins Ethereum has shown relative resilience. JPMorgan analysts highlight four key drivers behind Ethereum’s strength: the expectation that staking may be approved for ETFs, growing treasury adoption, SEC clarity easing concerns over liquid staking tokens, and in-kind redemptions improving ETF liquidity. Together, these factors suggest Ethereum could have more room to grow compared to Bitcoin. Other altcoins largely tracked Bitcoin’s consolidation. XRP, Solana, and Cardano saw weekly declines of 6–7%. The moves suggest a market taking a pause rather than signaling deeper stress. Macro & Markets All eyes are on Powell’s Jackson Hole address, with markets balancing recent softer CPI against hotter PPI data and hawkish Fed commentary. So far Powell has resisted President Donald Trump’s demands for rapid cuts and calls to resign, keeping rates unchanged at five consecutive meetings. While rate-cut hopes have moderated, expectations still lean toward an adjustment later this year if inflation continues to ease. Asian equities were steady, with Japan’s inflation data staying above the BOJ’s 2% target and keeping rate hike expectations alive On the institutional front, Allianz made headlines with its first formal endorsement of Bitcoin, calling it a “credible store of value” and noting its diversification benefits in modern portfolios. In South Korea, major banks are exploring partnerships with Tether and Circle, reinforcing stablecoins’ growing role in traditional finance. Looking Ahead Powell’s remarks at Jackson Hole will set the tone for September, with even subtle hints on policy likely to move markets. A steadier hand from the Fed could provide reassurance, while a hawkish lean may extend this period of consolidation. Beyond today, investors will quickly turn to next week’s U.S. data releases, including July new home sales on Monday, CB consumer confidence on Tuesday, and Thursday’s dual update of initial jobless claims and second-quarter GDP projections.

Introducing LeverEdge: Trade BTC or ETH moves with up to 200x leverage and capped risk What if you could take a strong view on BTC or ETH with up to 200x built-in leverage but without risking more than the amount you allocate? That’s exactly what Nexo’s new product, LeverEdge, is designed to do. Unlike traditional leveraged trading, LeverEdge strategies: – Have no automatic closure of your strategy before settlement. – Clearly define your maximum loss upfront (it’s always capped at what you allocate). – Allow you to exit early if you want to lock in profits or limit losses. – Include a built-in PnL projection, so you see your potential gain or loss before subscribing. Here’s a quick example to show how it works: – You pick BTC, select an upward view, and allocate 1,000 USDC into a 7-day strategy with 50x leverage and a breakeven price of $115,000. – If BTC ends above $115K at settlement, you get back your 1,000 USDC plus returns, based on how far the price moved past the breakeven. – If BTC ends near $115K, you may recover part of your allocation. – If BTC is well below $115K, your loss is capped at the 1,000 USDC you committed. You might use LeverEdge to elevate your strategy with higher leverage in a controlled, predefined way. It also offers flexibility to diversify strategies by funding them with BTC, ETH, USDC, or USDT (for users outside the EEA), and to plan around specific time horizons without the probability of automatic closures. Express your short-term market view with precision and control: Explore LeverEdge

Daily Market Dispatch – August 21, 2025 Bitcoin teaches patience while the market waits for Powell’s verdict Markets entered Thursday in a holding pattern as investors anticipate the Federal Reserve’s Jackson Hole symposium. Futures drifted while attention turned to Jerome Powell’s address on Friday, which could set the tone for September’s policy move. Crypto reflected the cautious mood: Bitcoin steadied near $114,000 while total market capitalization slipped to $3.5 trillion, its lowest in weeks. The pullback underlines how closely digital assets remain tethered to macro signals, with traders unwilling to commit until Powell’s tone becomes clear. Bitcoin Bitcoin hovered near $114,000 as markets braced for Powell’s Jackson Hole remarks. Wednesday’s $342.3 million in ETF outflows signaled a pause in institutional conviction, even as on-chain data pointed to a market environment still shaped by short-term positioning. Glassnode observed profit-taking by long-term holders, though it’s inconclusive and interpretations of Bitcoin’s cycle remain divided. Sentiment, too, has been unsettled. The Fear & Greed Index briefly dipped into “fear” when BTC tested $112,000, before returning to neutral as prices stabilized. Santiment described this shift as “flickering.” Futures positioning echoed this caution, with traders leaning short and prediction markets assigning meaningful odds to further downside. Adding a splash of optimism, Eric Trump, son of President Donald Trump and Executive Vice President of the Trump Organization, used the SALT conference in Jackson Hole to double‑down on his Bitcoin outlook, calling himself a “maxi” and forecasting $175,000 by year‑end and “over $1 million” long term. For now, the asset seems stuck in what might be called the awkward pause of its cycle, testing the patience of traders. Bitcoin doesn’t break cycles – it teaches investors whether they have one. Ethereum & Altcoins Ethereum rebounded, surging 7% to $4,350 and erasing Tuesday’s losses, with speculation that treasury accumulation helped fuel the bounce. That adds to ETH’s growing role in treasuries, with 4.1 million ETH held by 69 entities plus 6.7 million in ETFs. Altcoins outpaced Bitcoin’s modest +1.4% move. BNB hit a fresh all-time high at $875 (+6%), while Solana gained 6.1%. Even meme assets like Dogecoin (+5%) saw inflows. Ethereum’s growing treasury and ETF presence, combined with bursts of altcoin strength, highlight that capital is searching for opportunities outside Bitcoin’s current holding pattern. Meanwhile, Fed minutes revealed an unusual focus on stablecoins, citing their potential to reshape payment systems under the new GENIUS Act. Macro & Markets The macro spotlight is squarely on Jackson Hole. Futures wobbled as traders positioned for Powell’s remarks — with markets pricing an 80% chance of a September rate cut, though odds have softened. Minutes from July showed the Fed prioritizing inflation over job weakness, a stance that may frustrate both markets and the Trump administration. Walmart is expected to post its 12th straight earnings beat, highlighting consumer resilience, while Target’s stumble and Meta’s AI pause raised doubts about the durability of U.S. corporate momentum. Looking Ahead The near-term focus is packed with key events. Today, markets will parse U.S. Initial Jobless Claims, the Philadelphia Fed Manufacturing Index, and Existing Home Sales. The Jackson Hole Symposium runs from today through Saturday, with Powell’s keynote on Friday the defining moment. A dovish tilt could spark relief across equities and crypto, while hawkish caution may reinforce the grind lower. In crypto, whether short-term holder SOPR holds above 1 will be key for gauging if Bitcoin stabilizes or drifts deeper. Markets, in many ways, are in suspended animation — waiting for a voice from Wyoming to tell traders whether to breathe in or brace for impact. — Iliya Kalchev, Nexo Dispatch analyst For informational purposes only; not financial or investment advice

Nexo's AI Assistant - the next era of wealth intelligence is here Meet our new AI Assistant – the 24/7 smart companion, that turns your Nexo journey into a private-banking experience. Until now, you had to tap, scroll, and dig through menus. Now? You just ask. Ask it questions like: – “What’s my P&L this week?” – “BTC price right now?” – “How much did I earn in interest last month?” You’ll get instant answers, drawn from your Nexo account, real-time market data, and our products. Here's what the Assistant covers in its early release: – Live prices → BTC, ETH, altcoins in real-time, in your currency – Market news → summarized updates on what’s moving the space – Portfolio insights → performance, allocation, biggest movers – Product clarity → LTV, interest, and more (straight from our Help Center) – Technical analysis → signals & trends on-demand – Financial knowledge → definitions & context, Investopedia-style breakdowns – Quick actions → jump into relevant products directly from chat We’re laying the foundation for a full AI-powered wealth experience. This is just the first step – with much more to come: – Automated product actions, e.g. "Buy 1 BTC & open a Fixed Term” – Advanced visual breakdowns – Smarter strategy building – Voice support Access is live now on the web platform and the latest app version, for clients with balances of $5,000 or more. It’s an early release and a giant leap forward. The future of finance starts in conversation.

Daily Market Dispatch – August 20, 2025 Overview Markets are treading carefully midweek, with the total crypto market cap slipping just below $3.9 trillion as traders reduced positions ahead of a pivotal week for global markets. Bitcoin is consolidating near $113,000 and Ethereum around $4,200, with both influenced by nearly $1 billion in combined ETF outflows. Traditional markets are also cautious, with equities drifting lower, the dollar firming, and gold modestly higher as attention turns to the Fed’s Jackson Hole symposium later this week. Bitcoin Bitcoin eased back to around $113,000. The moderation comes as traders locked in some profits and ETF flows softened, with spot funds posting over $500 million in withdrawals. Key technical support is seen around $112,000–$113,000. At the same time, larger holders and companies using Bitcoin for treasury purposes continue to provide steady underlying demand. The near-term picture is cautious, but the broader trend shows Bitcoin increasingly treated as a portfolio building block. Ethereum & Altcoins Ethereum mirrored the broader consolidation, easing by $4,200. Spot ETFs saw over $420 million in outflows, making Ether more sensitive to institutional positioning than some peers. Market participants are watching the $4,200 level as a pivot point — stability above could bring steadier flows, while a dip lower may invite further rotation toward $3,900. Altcoins followed a similar pattern. Cardano fell 8% and Polygon 6%, while Solana held steady and XRP slipped 4% to $2.89. The picture suggests that while the sector is moving in step with Bitcoin, coins without significant ETF exposure are showing more resilience. Macro & Markets Attention is firmly on the Federal Reserve. Minutes from the July meeting, due later today, will shed light on how divided the central bank is after a rare dual dissent from Governors Waller and Bowman. Rates have been steady at 4.25–4.50% all year, but markets continue to expect a cut in September, with Powell’s Jackson Hole speech on Friday seen as the key signal for the months ahead. Equities reflect the same wait-and-see tone. Futures point lower, with technology leading the pullback as investors rebalance toward small-cap and value stocks. Gold has edged back to about $3,326/oz, but the stronger dollar at 98.2 suggests investors are prioritizing liquidity. This measured positioning highlights how crypto, equities, gold, and FX are all moving in lockstep with Fed expectations. Institutional activity continues to provide support. Brazil is debating a Bitcoin Strategic Reserve of up to $18.6 billion, underscoring the asset’s growing sovereign appeal. In the U.S., Fed Vice Chair Michelle Bowman signaled a more constructive approach to crypto banking, saying innovation and regulation can work together. Corporate adoption is also gathering pace, with digital asset treasuries raising $15 billion this year, including a record $6.2 billion in July alone. These moves point to a structural integration of crypto into both public and private balance sheets, a trend that looks set to outlast short-term volatility. Looking Ahead The rest of the week brings a series of important U.S. economic indicators and central bank signals. On Thursday, markets will digest initial jobless claims and the Philadelphia Fed manufacturing index, followed later in the day by existing home sales data. From Thursday through Saturday, the Jackson Hole Symposium will dominate attention, culminating in Fed Chair Powell’s keynote speech on Friday afternoon. For crypto, the key question is whether these events collectively provide the reassurance needed to steady ETF flows and support consolidation, or if cautious positioning will continue until clearer policy signals emerge. — Iliya Kalchev, Nexo Dispatch analyst For informational purposes only; not financial or investment advice

Daily Market Dispatch – August 19, 2025 Overview Markets are treading water ahead of the Federal Reserve’s Jackson Hole symposium, with investors weighing hotter U.S. inflation data, shifting rate-cut expectations, and renewed geopolitical uncertainty. Bitcoin’s retreat from record highs reflects consolidation rather than structural weakness, while flows into Ethereum and corporate treasury buying highlight the depth of institutional demand. Altcoins remain under pressure in a cautious risk environment. Traditional markets are equally cautious, with U.S. equities holding steady ahead of retail earnings and central bank signals. Bitcoin Bitcoin pulled back from last week’s record $124,000 to trade near $115,000, a decline driven by stronger-than-expected inflation readings and softer Fed easing bets. The move represents consolidation within its range, with traders digesting prior gains rather than capitulating. Support lies at $114,000–$112,000, while resistance remains at $117,000 and $120,000. Investor positioning suggests a wait-and-watch mode until policy clarity emerges. A Fed-driven shift could act as a catalyst, with rate cuts later this year offering a supportive backdrop. Bitcoin’s setback looks more like digestion than decline. Geopolitical uncertainty around U.S.-led Ukraine peace efforts has added another layer of caution, reinforcing the impact of hotter inflation data on risk sentiment. Ethereum & Altcoins Ethereum has been a bright spot, climbing to within 2% of its all-time high before easing to around $4,230. Institutional inflows into Ethereum products surged to $2.87 billion last week, accounting for more than three-quarters of total crypto inflows. Spot Ethereum ETFs now account for over 5% of supply, underscoring just how quickly institutional vehicles are shaping market structure. Ethereum has also outpaced Bitcoin in recent weeks, with ETH products attracting nearly six times the inflows of BTC funds. Altcoins remain in a holding pattern, with liquidity concentrated in majors as Solana, Cardano, and XRP trade in tight ranges. Until majors break higher, altcoins will continue to shadow the market rather than lead it. Macro & Markets The institutional landscape is shifting quickly. The SEC delayed decisions on nine crypto ETF applications, signaling progress toward a generic framework that could streamline approvals and broaden access beyond Bitcoin and Ethereum. Meanwhile, corporate balance sheets continue to absorb supply: Strategy and Metaplanet now control over 3.1% of Bitcoin’s circulating supply after new acquisitions, underscoring the role of listed firms in tightening liquidity. Japan and South Korea also advanced stablecoin frameworks, with Tokyo preparing the launch of a yen-pegged token and Seoul pushing legislation by October. These efforts point to a rapidly institutionalizing ecosystem. Equities linked to digital assets are also drawing attention. Bernstein reiterated its “long, exhausting” bull run thesis, lifting targets for Coinbase, Robinhood, and Circle, and forecasting a crypto cycle extending to 2027. The new cycle is defined not just by Bitcoin’s highs but by the deepening institutional rails beneath it. U.S. equities have been subdued ahead of big-box retail earnings from Home Depot, Lowe’s, Walmart, and Target, reports that will offer a key read on the American consumer just as Fed policy dominates the agenda. Looking Ahead A packed macro calendar lies ahead. U.K. and eurozone inflation prints, along with remarks from ECB President Lagarde on Tuesday, set the tone early in Europe. The Fed’s July meeting minutes follow later that day, before U.S. jobless claims, the Philadelphia Fed index, and existing home sales on Thursday. All eyes then shift to Jackson Hole, where Fed Chair Powell’s Friday speech is poised to be the week’s defining moment. The next move in crypto may hinge more on central bank signals than on charts. — Iliya Kalchev, Nexo Dispatch analyst For informational purposes only; not financial or investment advice

Native $TON transfers are now available over the TON blockchain. Get the most out of your $TON on Nexo: ▪️ Earn up to 3.5% annually ▪️ Unlock your $TON's value without selling using a Credit Line ▪️ Spend it globally with the Nexo Card 👉 Top up $TON

Daily Market Dispatch – August 18, 2025 Crypto markets are starting the week in pullback mode, as traders square positions ahead of a dense macro calendar. This week features three market-moving events: FOMC Meeting Minutes, Initial Jobless Claims, and most importantly, Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium. With last Thursday’s hot PPI print still in focus and the probability of a 25 bps September cut now priced at 84%, traders are recalibrating. Bitcoin is trading around $115,700, down 1.7%, and Ethereum is at $4,335, off 3%. The total crypto market cap stands at $3.89 trillion, modestly lower on the day. Despite the dip, structural conviction remains intact. Institutional inflows, regulatory shifts, and steady ETF activity are reinforcing the view that crypto’s trajectory is now shaped more by fundamentals than froth. Bitcoin Bitcoin remains in a cooling phase after last week’s spike above $124,000. While technical momentum has softened, price is holding near support at $115,000. With macro events ahead, traders appear to be tactically sidelining risk until Powell’s tone is known. Still, longer-term positioning remains constructive, supported by ETF inflows and institutional allocation. Ethereum & Altcoins Ethereum is consolidating around $4,300 after peaking above $4,700 last week. While down 3% on the day, ETH remains among the strongest institutional favorites. Traders continue to view $4,200 as a key support level, with price action above this threshold considered structurally bullish.That said, the market did register a breather: last Friday, spot Ethereum ETFs logged $84.7 million in net outflows, while Bitcoin ETFs saw $51.6 million in outflows, according to data from. The retreat comes after a record-setting volume week and appears to reflect short-term macro hedging rather than a reversal in institutional appetite. Bitcoin Cash (BCH) and Arbitrum (ARB) remain rangebound, reflecting stable capital rotation. XRP, trading just below $3.00, is seeing some profit-taking but remains supported by institutional and legal momentum. Broader altcoin sentiment is steady, though volumes are light ahead of Thursday’s macro data. Macro & Markets This week’s calendar is critical for risk assets. On Wednesday, the FOMC Meeting Minutes will offer insight into how divided the Fed remains on inflation stickiness versus labor softness. On Thursday, Initial Jobless Claims may either reinforce dovish sentiment or surprise to the upside, especially if labor data weakens further. But the main event remains Friday’s Jackson Hole keynote, where Fed Chair Powell will lay out the policy path for the fall. A cautious or hawkish tone could temporarily pressure crypto and equities. However, a dovish or balanced signal would likely trigger renewed appetite for beta assets like BTC, ETH, and high-conviction altcoins. Institutional & Structural Momentum Institutional confidence in crypto keeps building. Brevan Howard is now the largest holder of BlackRock’s IBIT ETF with $2.3B in exposure, surpassing Goldman Sachs. Wells Fargo, Harvard, and Cantor Fitzgerald also increased their crypto equity stakes, underscoring digital assets as mainstream allocations. On the regulatory side, SEC Chair Paul Atkins confirmed new custody and compliance guidance under “Project Crypto” to drive further institutional entry. Meanwhile, the Fed ended its ‘Novel Activities Supervision Program,’ signaling a shift toward integrating crypto oversight into standard banking regulation—positive news for crypto-banking ties. Looking Ahead With the three-day macro window, traders should expect directional pivots. A dovish Powell could reignite upside momentum; a cautious tone may prolong this consolidation. Either way, the foundations beneath crypto—ETF flows, regulatory progress, and institutional adoption—continue to deepen. The macro may set the pace, but the structure is firmly in place. — Stella Zlatareva, Nexo Dispatch editor For informational purposes only; not financial or investment advice.

Markets turn their eyes to Jackson Hole this week, with Powell’s speech and the Fed’s annual symposium setting the tone amid a packed calendar of U.S., U.K., and Eurozone data. 🇺🇸 Atlanta Fed GDPNow (Q3) projection – August 19, 15:30 GMT 🇬🇧 U.K. CPI YoY & MoM (Jul) – August 20, 06:00 GMT 🇪🇺 ECB President Lagarde Speaks – August 20, 07:10 GMT 🇪🇺 Eurozone CPI YoY & MoM (Jul) – August 20, 09:00 GMT 🇺🇸 FOMC Meeting Minutes – August 20, 18:00 GMT 🇺🇸 Initial Jobless Claims – August 21, 12:30 GMT 🇺🇸 Philadelphia Fed Manufacturing Index (Aug) – August 21, 12:30 GMT 🇺🇸 Existing Home Sales (Jul) – August 21, 14:00 GMT 🇺🇸 Jackson Hole Symposium – August 21-23, All Day 🇺🇸 Fed Chair Powell Speaks – August 22, 14:00 GMT

Daily Market Dispatch — Friday, August 15, 2025 Overview Crypto is digesting hotter-than-expected U.S. producer prices while holding most of this week’s gains near record territory. The core message today: this is constructive consolidation at an all-time high altitude, not a trend break. Total crypto market capitalization sits around $4.04 trillion, with sentiment in “Greed” at 59/100 – elevated but shy of euphoria, leaving room for trend continuation if macro doesn’t deteriorate. Policy signals matter: the U.S. Treasury reiterated it won’t be a price-insensitive buyer of BTC but will continue to build the Strategic Bitcoin Reserve with forfeited coins – a budget-neutral approach that underwrites the long-term scarcity thesis. Add in an SEC push of Solana ETF deadlines to October and a growing buy-side belief that crypto is entering a “new era of leadership,” and the uptrend’s broader narrative remains intact. Bitcoin BTC is trading near the low-$119,000s, after its new all-time high above $124,000. The surprise 0.9% m/m jump in U.S. PPI knocked the price briefly on Thursday, before a steady rebound. Volatility is elevated but remains under control. Options markets and realized ranges widened during the breakout phase, then narrowed again intraday. Meanwhile, spot bitcoin ETFs saw $231 million in net inflows, up from $87 million a day before. From a technical perspective, the key support lies between $118,000 and $120,000, while resistance is concentrated around the recent peak near $124,000. Macro & Markets Global equities absorbed the hot PPI with modest damage: Asian indices were mixed, the Nikkei rebounded on better-than-expected GDP, and U.S. futures steadied as Treasury yields eased off initial spikes. The hot print trimmed the probability of an outsized September cut while still leaving a 25 bp move as the base case. With Fed officials split between lingering inflation and a cooling labor market at Jackson Hole, policy remains data-dependent. For crypto, this backdrop argues for episodic macro-driven pullbacks that reset funding and sentiment, rather than trend reversals. Ethereum & Stablecoins Ethereum, Solana, and XRP are down between 1% and 3%, tracking the wider market pause. The selling pressure follows several weeks of strong momentum, and today's dip is being interpreted as a short-term reset rather than a change in trend. Institutional activity remains healthy with U.S. spot ETH ETFs attracting $640 million in net inflows on Thursday, extending to an eight-day streak. Additionally, Ethereum-based stablecoins and tokenized finance applications continue to see steady growth. Global Trends Policy-wise, the Strategic Bitcoin Reserve framework is now operational via forfeitures, removing prior overhang around government BTC sales and turning a potential source of supply into a structural sink. The SEC, meanwhile, delayed decisions on Solana spot ETFs to October 16 – a timeline extension rather than a “no”. In mining and infrastructure, Q2 updates from public miners point to mixed revenue momentum as hash economics and energy inputs whipsaw. This is another sign that equity proxies will be more volatile than the underlying assets in this phase. Looking Ahead Our take: with Greed at 59, fresh ATHs printed, and policy broadly trending toward easier financial conditions, we remain constructive. Investors will focus next on the U.S. data run-up into Jackson Hole between August 21 and 23 and the September FOMC: retail sales, jobless claims, and any tariff-linked price updates that could either validate the PPI surprise or mark it as a one-off. CME FedWatch and high-frequency flows on SoSoValue remain your best now-casting tools for policy odds and ETF demand. On the regulatory front, the October 16 Solana ETF deadlines become the next non-macro waypoint, with any interim SEC commentary capable of nudging rotation.

Daily Market Dispatch – August 14, 2025 Overview Markets are advancing as expectations for a September Fed rate cut grow stronger. The U.S. dollar weakened to multi-week lows amid dovish rhetoric, while Bitcoin topped $124,000 to shatter its previous all-time high, reflecting mounting institutional demand and crypto-friendly regulatory developments. The interplay of macro optimism and structural adoption continues to underpin bullish sentiment, reinforcing crypto’s evolving role as a mainstream financial asset and pushing the global crypto market cap to $4.13 trillion. Bitcoin is currently trading around $122,000, while Ethereum climbs to fresh highs near $4,780, as traders position ahead of today’s high-impact U.S. macro releases. Initial Jobless Claims and July PPI, both due at 12:30 GMT, are data that could influence near-term volatility across crypto and broader risk assets. Bitcoin Bitcoin has extended its summer rally, hitting an all-time high of $124,457. With its 30% gain year-to-date, it has become the fifth-largest asset by market capitalization, surpassing Google. There is room for Bitcoin to extend toward the $150,000 mark, provided it continues to hold above current breakout levels. Technical and sentiment indicators remain bullish, with Bitcoin Price Temperature (BPT) at 2.56, suggesting strong momentum without any overheating warning, while the price remains above its long-term moving averages. Ethereum & Altcoins Ethereum is riding strong tailwinds, approaching a new all-time high around $4,780, propelled by structural adoption and macro tailwinds that support broader crypto markets. A key driver of Ethereum’s surge this week has been the explosive growth in U.S. spot ETF demand: the products absorbed a record $729 million in net inflows on Wednesday. BlackRock’s ETHA and Fidelity’s FETH remain the top contributors, and total ETH ETF AUM has now crossed $12.2 billion. The flows underscore ETH’s evolving role as a capital allocation target for institutional investors. Altcoins are stirring with breakout action as well: Bitcoin Cash (BCH) hit a yearly high near $621, while Arbitrum (ARB) is gaining momentum on strong volume and renewed investor interest. Their performance reflects selective risk rotation into assets with clear historical narratives and emerging use cases. Macro & Markets Global markets are riding the tailwind of dovish Fed signals and increased risk appetite. Asian equities traded flat to modestly lower—Japan’s Nikkei slipped 0.3% as traders booked profits, while U.S. index futures are holding steady. Treasury yields remain rangebound, but a surprise uptick in PPI or jobless claims could spark short-term volatility. The yen’s unexpected strength, driven by speculation around a potential Bank of Japan rate hike, is also being watched closely by macro funds. Institutional and Structural Momentum Crypto’s integration into mainstream finance is accelerating. Notably, SpaceX’s latest financial disclosures confirmed Bitcoin holdings of over $1 billion, making it one of the largest corporate BTC treasuries globally. Public firms have already added 245,510 BTC during H1  2025, more than four times the amount acquired by ETF issuers in the same period, signaling a clear shift toward direct ownership. Looking Ahead Capital markets will watch upcoming U.S. PPI, retail sales, and consumer sentiment data for signals that will either reinforce or temper rate cut expectations, and by extension, crypto’s momentum. While the broader trend remains bullish, these macro prints may drive near-term volatility. — Stella Zlatareva, Nexo Dispatch editor For informational purposes only; not financial or investment advice.

Get 3% back when you add and hold $TRX, $XLM & $BCH: ▪️ Buy, swap into, or transfer a combined $5K+ by Aug 27 ▪️ Hold your full net balance through Nov 25 ▪️ Get 3% of your Aug 27 balance as in-kind reward, no cap Earn interest along the way. Full details 👉 Get 3% back on TRX, XLM, or BCH

Daily Market Dispatch – August 13, 2025 Overview Crypto markets surged to a $4.11 trillion market cap, led by Ethereum’s rally to within striking distance of its all-time high. ETH’s 10% daily gain and record ETF inflows have cemented its role as the cycle’s standout asset, drawing substantial corporate treasury allocations and fresh retail participation. U.S. inflation data was mixed – headline CPI at 2.7% versus 2.8% expected, core at 3.1% versus 3.0% – reinforcing expectations for a 25bp Fed rate cut in September. With macro risks easing and flows building, the setup remains favorable into Jackson Hole later this month. Bitcoin BTC trades at $120,577, up 2%, holding a bullish structure with support at $117,000 and $114,000 and resistance at $123,000. ETF flows remain supportive, with spot Bitcoin products seeing steady inflows. Norway’s sovereign wealth fund increased its indirect BTC exposure by 192% year-on-year to 7,161 BTC (~$844 million), adding 3,340 BTC in the first half of 2025. BTC is consolidating just below resistance as ETH leads the broader rally. Macro & Markets S&P 500 futures rose 0.2%, Nasdaq 100 futures added 0.2%, and Dow futures climbed 107 points pre-market after Tuesday’s record closes. The S&P 500 ended up 1.1% at 6,445.76, the Nasdaq rose 1.4% to 21,681.90, and the Dow gained 483 points to 44,458.61. The Russell 2000 jumped nearly 3% on lower rate expectations. Gold rose 0.3% to $3,359.54/oz as traders priced a 96% probability of a September cut. Now attention turns to Thursday’s PPI and the Aug. 21–23 Jackson Hole meeting. Ethereum & Stablecoins ETH is at $4,692, up 10% on the day, and nearing the $4,861 ATH from November 2021. Corporate treasuries are adding ETH in size, echoing BTC accumulation strategies, while US-listed spot ETH ETFs attracted $524 million in net inflows on Tuesday, nearly eight times BTC ETF flows. Google searches for “altcoin” hit a five-year high, coinciding with BTC dominance slipping toward 60%. Standard Chartered raised its 2025 ETH target to $7,500 from $4,000, citing stronger industry demand, and now projects $25,000 by 2028. On-chain activity remains high, with daily transactions above 1.7 million. Solana jumped 15% to regain $200. Corporate Activity & Global Trends Perplexity AI made a $34.5 billion unsolicited all-cash bid for Google’s Chrome browser, aiming to leverage its user base for AI training data. The startup, valued at $14 billion, has raised $1 billion from backers including SoftBank and Nvidia. Looking Ahead With CPI behind, focus shifts to Thursday’s PPI, Friday’s retail sales and sentiment, and Jackson Hole later this month. Fed officials are likely to reinforce a September cut narrative. ETH’s leadership, coupled with BTC consolidation and strong ETF flows, points to sustained momentum – provided macro conditions remain supportive. — Stella Zlatareva, Nexo Dispatch editor For informational purposes only; not financial or investment advice.

Daily Market Dispatch – August 12, 2025 Overview July’s U.S. inflation data delivered mixed signals. Headline CPI came in slightly below expectations at +2.7% year-on-year (vs. 2.8% forecast), while core CPI rose 3.1% YoY – above the 3.0% estimate. Markets aren’t shaking their outlook: the Fed cut odds for September remain strong, near 84%. Post-release, Bitcoin edged just under $119,000, and Ethereum gained ~2.5%, signaling continued short-term momentum. Bitcoin & Ethereum Bitcoin is holding a bullish posture across both weekly and daily timeframes. Resistance sits at $120,000 and $123,000, with support at $117,000 and $114,000. On the weekly chart, trend strength remains clear: Average Directional Index (ADX) is elevated, the Moving Average Convergence Divergence (MACD) is firmly positive, and the Relative Strength Index (RSI) is climbing. Ethereum continues to outperform, trading above $4,300. Institutional appetite remains robust: ETH ETFs just crossed $1 billion in daily inflows yesterday, and total ETF inflows now exceed $10.8 billion. Open interest in ETH options has jumped to $13.75 billion, the highest in 2025. Calls dominate, particularly at $4,000, $5,000, and $6,200 strikes. Corporate participation is also climbing. Nasdaq-listed Fundamental Global deployed $200 million to acquire 47,331 ETH, intending to become one of the largest ETH treasury holders. Spot Bitcoin ETFs recorded $178 million in net inflows on Monday, with BlackRock’s IBIT contributing $138 million. Macro & Market Context Inflation’s mixed tone leaves the Fed’s September move in focus. All eyes now turn to Friday’s PPI, retail sales, and consumer sentiment reports. Equities treaded water post-CPI, with major indices holding near record levels. Gold prices reacted modestly as traders debated the inflation path and rate expectations. Corporate Activity and Adoption Japan-listed Metaplanet acquired 518 BTC for roughly $61 million, bringing its total holdings to 18,113 BTC. Ripple adoption continues to build. Renewable energy firm VivoPower confirmed plans to acquire $100 million in Ripple shares and 211 million XRP tokens, becoming the first U.S.-listed company to hold both. The company cited long-term treasury diversification as its goal. Looking Ahead With CPI delivering a slightly mixed read, the consensus for a September Fed cut remains credible. Crypto assets now hinge on earnings, upcoming macro data, and ETF flows. Should PPI and retail data stay soft, expect renewed upside in BTC and ETH. If they surprise to the upside, expect subdued volatility – even if long-term technicals stay intact. — Stella Zlatareva, Nexo Dispatch editor For informational purposes only; not financial or investment advice.

Daily Market Dispatch – August 11, 2025 Overview Markets entered the week in full rally mode after the approval of crypto in 401(k) retirement accounts unlocked fresh capital flows across digital assets. Total crypto market cap briefly crossed $4 trillion on Monday before settling at $3.99 trillion, up 1% over 24 hours. Today’s focus shifts firmly to macro: Tuesday’s U.S. CPI release is expected to show inflation ticking higher, raising questions about whether the Federal Reserve will stick to its expected rate cut in September. With stablecoin issuer Circle, AI-cloud player CoreWeave, and networking giant Cisco all set to report this week, markets will also be watching for signs of how AI infrastructure and crypto integration are reshaping tech. Bitcoin & Ethereum Bitcoin surged over the weekend, briefly touching $122,056, a critical 1.618 Fibonacci extension drawn from past bear market lows. Though it has since retraced slightly to trade around $120,154, bulls continue to eye a breakout toward $140,000, supported by over $3 billion in open call interest. Ethereum, meanwhile, broke above $4,300, hitting its highest level since 2021 and outperforming BTC in both price action and flows. Ether is now less than 12% off its all-time high, drawing comparisons to its 2020 rotation. ETF flows reflected the surge: $260 million flowed into Bitcoin funds last week, while Ethereum led with $461 million. Macro & Markets The Consumer Price Index (CPI) for July, due Tuesday, is expected to rise to 2.8% year-on-year. With volatility elevated, markets are now at an inflection point. A cooler-than-expected print could affirm expectations for a September rate cut and send crypto to new highs. A hotter CPI might stall the rally, at least temporarily, while keeping institutional flows in play. The print follows fresh warnings from Goldman Sachs that President Trump’s new tariffs could add structural inflation, especially as companies begin to pass rising costs to consumers. Elsewhere, Nvidia and AMD agreed to share 15% of their China-based AI chip revenues with the U.S. government in exchange for export licenses – a deal being viewed as an unprecedented, company-specific "chip tax." The move reflects President Trump’s broader strategy to convert trade restrictions into financial gains. Ethereum & Stablecoins Ethereum’s breakout has been aided by surging on-chain activity. Daily transaction volume hit a record 1.75 million on August 8, surpassing the previous peak from May 2021. ETH’s rise of 80% since June 5 has largely tracked the public market debut of Circle, as institutional awareness around the Ethereum stablecoin ecosystem grows. Ethereum’s dominance has triggered an “alt rally” as traders rotate into high-beta tokens. Still, ETH remains 14% off its all-time high, leaving room for catch-up plays – especially if ETF inflows continue at current pace. Corporate Activity & Global Trends The institutional pivot continues. Harvard University’s endowment disclosed a $116.7 million stake in BlackRock’s IBIT, surpassing its allocations to Nvidia and Alphabet. Meanwhile, Strategy added 155 BTC (~$18 million), bringing its total holdings to 628,946 BTC. Last but not least, Ethereum treasury firm BitMine said Monday its ETH holdings have surpassed 1.15 million tokens, valued at about $4.9 billion, reportedly making it the largest corporate ETH treasury globally. Looking Ahead Tuesday’s CPI release is the main event. A cooler print could open the door for Bitcoin to challenge its all-time highs and Ethereum to push beyond $4,500. But a hot inflation number could lead to some profit-taking and a volatility spike ahead of Thursday’s PPI and Friday’s retail sales and consumer sentiment data. — Stella Zlatareva, Nexo Dispatch editor For informational purposes only; not financial or investment advice.

Markets brace for a week of crucial economic data as fresh inflation and growth indicators take the spotlight. Here’s what to watch this week: 🇺🇸 CPI MoM & YoY (Jul) - August 12, 12:30 GMT 🇬🇧 GDP MoM (Jun) - August 14, 06:00 GMT 🇺🇸 Initial Jobless Claims - August 14, 12:30 GMT 🇺🇸 PPI MoM (Jul) - August 14, 12:30 GMT 🇪🇺 GDP YoY & QoQ (Q2) - August 14, 09:00 GMT 🇺🇸 Retail Sales MoM (Jul) - August 15, 12:30 GMT

Daily Market Dispatch – August 8, 2025 Overview The crypto market extended its rally, with the total market cap rising 1.21% to $3.87 trillion. Risk appetite firmed after President Trump signed executive orders unlocking 401(k) access to crypto and protecting firms from banking restrictions. Gold tariffs, escalating Middle East tensions, and a new Fed nomination of a known crypto and rate-cut advocate added to the macro mix. Meanwhile, OpenAI unveiled GPT-5, advancing AI's role in finance, coding, and decision-making. Bitcoin Bitcoin traded near $116,600 as U.S. spot ETFs saw $281 million in inflows on Thursday. Ether ETFs added $222 million, marking three consecutive days of net inflows. The policy backdrop has turned more decisively supportive. President Trump signed an executive order directing the Labor Department and SEC to facilitate digital asset exposure in 401(k) plans. Analysts say even a 2% crypto allocation across retirement savings plans could dwarf all ETF flows to date. Another executive order targeted the banking sector, instructing regulators to prevent discrimination against crypto-focused businesses. Separately, the SEC and Ripple dropped appeals in their long-running case, leaving the 2023 XRP decision as final. Options traders leaned bullish, with calls clustering near $118,000 for BTC. ETH treasuries topped $10 billion across tracked entities, and analysts see a possible push toward $120,000 if momentum holds. Macro & Markets While crypto rallied, traditional markets were mixed. The Nasdaq rose 0.35%, while the S&P edged lower. In commodities, unexpected tariffs on gold bars roiled bullion markets, sending New York futures to record highs. The move threatens global bullion trade flows and could reshape the structure of precious metals clearing. President Trump also nominated Stephen Miran to the Fed Board as a short-term replacement while leaving the door open to a more permanent and influential appointment ahead of the 2026 Fed Chair rotation. Miran, who aligns with Trump’s stance on tariffs and low rates, is unlikely to vote at the September meeting but is seen as an additional dovish voice when confirmed. Ethereum & Stablecoins Ethereum rose 4% to $3,910, boosted by strong ETF inflows and the SEC’s green light on certain staking models. ETH activity hit record highs, and stablecoins followed the broader uptrend. XRP jumped 11% on the Ripple ruling. Solana and DOGE each rose 4%. Glassnode data shows cooling sentiment, though hedging remains active around the $100,000 mark for BTC, reflecting a cautious but constructive outlook. Corporate Activity & Global Trends Block Inc. added 108 BTC in Q2, bringing its treasury to 8,692 BTC. Block joined the S&P 500 in July. In El Salvador, officials announced the launch of “Bitcoin Banks” – a global first integrating BTC into core banking infrastructure. In tech, OpenAI unveiled GPT-5, emphasizing improvements in coding, writing, and complex reasoning. CEO Sam Altman confirmed GPT-5 was trained with more synthetic data, signaling a shift in AI development and a step toward deeper automation across sectors. Looking Ahead Crypto is entering a new phase of policy normalization, with ETF inflows, legal clarity, and macro dovishness aligning across the board. Meanwhile, investors are watching for President Trump’s next Fed pick, any escalation in global tariffs, and Tuesday’s CPI release. If the trend of risk rebalancing holds, Bitcoin and Ethereum could remain at the center of institutional portfolios heading into late summer. — Stella Zlatareva, Nexo Dispatch editor For informational purposes only; not financial or investment advice.

Daily Market Dispatch – August 7, 2025 Overview The crypto market climbed overnight, with the total market cap rising 2.85% to $3.82 trillion as Bitcoin reclaimed ground above $116,000. The real headline, however, is policy. U.S. President Donald Trump will sign an executive order Thursday that could bring crypto into U.S. retirement plans, according to a senior White House official cited by CNBC. The directive would pave the way for private equity, real estate, and digital assets to be included in 401(k) portfolios. It instructs the Labor Department to reexamine ERISA guidance and work with the Treasury and SEC to explore rule changes. While implementation details remain unclear, the move signals a broader shift toward normalizing crypto in long-term, regulated investment products and reflects Washington’s recalibrated stance on digital assets. Bitcoin Bitcoin rose to $116,430, its highest level this month, up 1.24% in 24 hours. Renewed expectations of a September Fed rate cut, following last week’s weak labor data, continue to support risk assets broadly. The CME’s FedWatch tool now sees a 93.4% chance of a 25bp cut, with Polymarket pricing in 79%. ETF flows confirmed the rebound: spot Bitcoin ETFs saw $91.55 million in net inflows on August 6, breaking a four-day streak of redemptions. Institutional interest appears to be returning, further evidenced by the State of Michigan Retirement System disclosing Bitcoin ETF exposure in its latest quarterly update. Yet despite the rally, Bitcoin's 30-day implied volatility has dropped to 36.5%, its lowest since October 2023, when BTC traded under $30,000. The decoupling of price and volatility signals a maturing market structure, reinforced by the rise of structured yield strategies like covered calls. Macro & Markets President Trump’s new tariffs formally took effect at midnight, raising the average U.S. tariff rate to 15.2%—the highest since World War II. Major trading partners, including the EU, Japan, and South Korea, accepted 15% rates to avoid harsher terms. Others, including Switzerland and India, faced steeper penalties—India's levies were doubled to 50% over its Russian oil purchases. Markets reacted with cautious optimism. The Nasdaq closed up 1.2%, helped by exemptions for chipmakers and talk of Trump nominating dovish Fed governors. Meanwhile, the Bank of England cut rates to 4% on Thursday morning, signaling a coordinated global tilt toward easing. Ethereum & Stablecoins Ethereum outperformed BTC, gaining 4.13% to trade near $3,835. Daily on-chain transactions reached 1.87 million, just shy of their all-time high. ETF flows were supportive, with $35.12 million in net inflows across ETH spot products – only Grayscale recorded a net outflow. Stablecoin volume surged to $1.5 trillion in July, setting a new monthly record. Corporate Activity & Global Trends Corporate momentum in crypto continues to build. Ripple will acquire stablecoin platform Rail for $200 million to strengthen its position in cross-border payments. Tether is leading a €30 million round in Bit2Me, а Spanish exchange. In the U.S., Parataxis Holdings is merging with a SPAC to raise up to $640 million for a Bitcoin treasury vehicle to be listed on the NYSE. Meanwhile, SBI Holdings has filed for Japan’s first dual Bitcoin–XRP spot ETFs, signaling growing institutional demand across global markets. Looking Ahead Crypto remains relatively insulated from direct tariff effects, though analysts warn that rising infrastructure and import costs could pressure mining, while macro instability may further boost the appeal of Bitcoin as a non-sovereign asset. Bitcoin’s calm is proving more telling than its volatility. ETF inflows, regulatory clarity, and long-term adoption milestones – from pension funds to global asset managers – are aligning beneath the surface. — Stella Zlatareva, Nexo Dispatch editor For informational purposes only; not financial or investment advice.

Elite performance. Global vision. Day one of the Nexo Championship in Aberdeen is on. Live coverage kicks off at 12:30 GMT — don’t miss a moment. Find out where you can tune in 👉 check here.