Ethereum hit a level we haven’t seen in 4 years

Plus: Elon Musk’s xAI gets sued for stealing a name

GM. We’re here to separate the pulp from the juice - only the purest drops for your glass.

Here's the ingredient list for today:

🍍 Ethereum hit a new all-time high.

🍋 xAI getting sued, South Park mocks Donald Trump + more

🍍 Market flavor today

Crypto Market Cap: $3.89T -2.16% (24H)
Name		Price	24H	7D
	Bitcoin BTC	$112,034.94	-1.44%	-2.78%
	Ethereum ETH	$4,651.19	-2.26%	8.02%
	XRP XRP	$2.96	-1.13%	-0.57%
	BNB BNB	$869.31	1.06%	4.17%
	Solana SOL	$198.22	-3.26%	9.01%

Today’s market update includes something that you haven't heard in four years:

Ethereum hit a new all-time high 🚀

The rally started Friday after Fed Chair Jerome Powell suggested that interest rates might be cut soon.

But J Pow's comment wasn’t the only reason - several other factors have been building pressure under ETH lately:

1/ ETF demand

US spot ETH ETFs recorded more than $1B in inflows in a single day recently - the biggest amount since they launched.

And not only that - for weeks now, ETH ETFs have actually been outperforming Bitcoin ETFs.

2/ Corporate buying

Companies are starting to hold large amounts of ETH in their treasuries:

👉 BitMine holds ~$6.7B worth of ETH;

👉 SharpLink holds ~$3.2B in ETH.

That kind of demand adds constant upward pressure on the price.

3/ Whale buying

According to CryptoQuant contributor Darkfost, large Binance traders - aka whales - have been increasing their ETH positions since July, both in spot and futures markets.

They started buying after ETH’s price trend reversed upward, which shows they waited for confirmation before entering.

Their buying increases demand, which pushes the price higher.

4/ Clearer regulation

👉 The SEC said liquid staking services can keep paying rewards without registering as securities;

👉 The GENIUS Act passed. It set up a legal framework for stablecoins in the US, and since most stablecoins run on Ethereum, that strengthens ETH.

And now, the million-dollar question: where to next?

Crypto Jelle pointed out that ETH has turned its old high around $4,650 into support, and is now in price discovery - in other words, the market is exploring new territory where no one knows the limits yet.

Stay tuned 👀

🥝 Memecoin harvest

These tokens did a 10x off a typo and a dream ✨

Data as of 04:20 AM EST.

Check out these memecoins and plenty more here.

🍋 News drops you can't miss

🌍 Find the right exchange for your region

The best exchange for you isn’t always the biggest name - it’s the one that works with your country’s rules and payment options.

Find Binance alternatives by continent

⚖️ Xai vs. xAI

The Ethereum-based gaming network Xai is suing Elon Musk’s AI company, xAI, for allegedly stealing their name.

Xai says it’s been rocking the "XAI" label since mid-2023, way before Musk launched xAI and announced his own gaming studio.

Read the full story

📞 "Hello, sir, we've stolen your Bitcoin"

One Bitcoin holder lost 783 BTC (~$91M) after falling for scammers pretending to be support staff.

ZachXBT called it a textbook social-engineering attack and warned people to treat every random call or email as a scam.

Read the full story

😂 South Park trolls Trump

South Park’s new episode Sickofancy throws shade at Donald Trump.

Tech bosses are shown giving him Bitcoin at the White House, while other scenes mock his policies and show Washington on lockdown.

Read the full story

🚓 Interpol busts $300M crypto scams

Interpol’s Operation Serengeti 2.0 arrested over 1.2K suspects, stopped scams targeting 88K people, and recovered $97.4M.

The campaign also broke up a $300M crypto fraud scheme with 65K victims, arrested 15 suspects, and seized fake passports linked to trafficking.

Read the full story

🍌 Juicy memes