What happened this week in the world of blockchain and cryptocurrencies? The most relevant local and international events as well as appealing background reports in a concise and compact weekly review.
Selected articles of the week:
Fed Chair Jerome Powell signaled a possible rate cut in September during last week’s Jackson Hole symposium. The shift in risk dynamics, he said, justified an adjustment in monetary policy. Markets reacted positively: US equities rose, bond yields fell, and cryptocurrencies rallied. Ethereum and altcoins in particular benefited from the prospect of looser financial conditions. Ethereum reached its all-time high from November 2021 for the first time again. This raises the question: is a new altcoin season beginning? Fundamental blockchain adoption and improved legal clarity in the US support the continuation of the rally.
On Friday, Fed Chair Jerome Powell opened the door to an interest rate cut in…
Companies are accumulating Ethereum
SharpLink Gaming is following MicroStrategy’s lead, strategically building Ethereum (ETH) as a corporate reserve. Under the leadership of Ethereum co-founder Joseph Lubin, the company recently invested around USD 252 million in ETH and now holds 800,000 coins worth USD 3.7 billion. The strategy combines aggressive purchases with staking to generate ongoing yields. Just like Bitcoin before it, Ethereum is now experiencing growing buying pressure from publicly listed companies using their balance sheets to accumulate crypto.
SharpLink Gaming invests USD 252 million in Ethereum. Under Joseph Lubin, the ETH reserve grows into the largest on the market.
Crypto payments at Spar: hype or adoption?
Since April, Spar branches in the canton of Zug have been accepting payments in Bitcoin and other cryptocurrencies. The offer has been met with strong demand: over 100 locations in Switzerland now support the crypto payment option. Customers simply scan a QR code at checkout to complete the transaction. The widespread integration is driven by significant cost savings on transaction fees. According to Spar, crypto payments are popular and used daily. In contrast, Migros and Coop remain hesitant. When asked by CVJ.CH, both retailers emphasized that there is currently not enough demand for crypto payments.
Over 100 Spar branches in Switzerland now offer payments with Bitcoin and other cryptocurrencies. When will other industry giants follow?
Tokenization: a threat to traditional brokers
Trading in tokenized stocks – digital representations of traditional securities – is on the rise, particularly on crypto exchanges like Kraken and Coinbase. This creates new competitive pressure for traditional exchanges. The World Federation of Exchanges (WFE) is now calling for stricter regulation. According to the WFE, tokenized securities should be subject to the same regulatory requirements as traditional stocks. The European ESMA and national authorities are now under pressure. Traditional exchange operators appear to have recognized the disruptive potential of tokenization. However, regulatory crackdowns are unlikely to halt the trend. Instead, agile platforms like Robinhood that can quickly adapt to new market structures are likely to benefit.
European exchanges call for clear rules on tokenized stocks to prevent market distortion and ensure investor protection.
Solana traders hit historic low
In addition: activity on Solana-based DEX platforms dropped sharply in August. The number of daily traders fell from 4.8 million at the start of the year to around 900,000 – returning to levels seen in summer 2024. Daily transactions also declined significantly, from 45 million in July to 28.8 million. According to industry observers, the drop is mainly due to a wave of memecoin scams, manipulated token pumps, and targeted scam attacks. Despite the retreat of many retail traders, Solana continues to show resilience. Low transaction fees and a clear roadmap ensure long-term competitiveness in the DeFi sector. In addition, Solana is positioning itself as a key player in the growing tokenization trend.
Solana DEX traders drop from 4.8M to 900’000. Memecoin fraud and scams undermine investor confidence.
