PA Daily | Over $4.5 billion in Bitcoin and Ether options are about to expire; WLFI falls below $0.18, Cumberland is suspected to join WLFI as a market maker after DWF and Jump.

Today's news tips:

Guofu Quantum established the RWA8 fund to help Hong Kong compete for global RWA pricing power.

River claims that its client base reinvests an average of 22% of their profits into Bitcoin.

Etherealize completes $40 million financing, led by Electric Capital and Paradigm.

CryptoQuant: The key monthly support for BTC is $107,600, and the market is in a recovery phase.

Deribit: Over $4.5 billion in Bitcoin and Ethereum options are set to expire, with Ethereum call options concentrated above $4,500.

Moca Network has launched MocaPortfolio with a scale of 20 million USD, providing the community with the opportunity to engage with the Animoca ecosystem.

Bitwise Analyst: The Pokémon card market is undergoing a transformation towards RWA cryptoization, which may bring about an impact from Polymarket on prediction markets.

TON Strategy Company approves a $250 million stock repurchase plan

Macro

GuoFu Quantum established the RWA8 fund to help Hong Kong compete for global RWA pricing power.

According to Zhitong Finance, Guofu Quantum Innovation Co., Ltd. (00290.HK) has registered the “Guofu Tokenized Digital Asset Limited Partnership Fund” (RWA8 Fund) under its subsidiary Fuqiang Equity Investment Management Co., Ltd. on September 4. The fund aims to deeply empower Hong Kong's transformation, inject new variables into the Hong Kong RWA (Real World Assets) sector, and assist in competing for global RWA pricing power.

The President of the European Central Bank calls for addressing the risks of non-EU stablecoins.

According to Cointelegraph, European Central Bank (ECB) President Christine Lagarde has urged policymakers to fill the regulatory gaps surrounding stablecoins, particularly those issued outside the “sound” regulatory framework for crypto assets in the EU (MiCA). In a preparatory speech for the ninth annual meeting of the European Systemic Risk Board on Wednesday, Lagarde stated that EU legislators should take appropriate measures regarding the issuance of stablecoins jointly by MiCA-regulated entities and non-EU entities; unless there is a “sound equivalent regulatory regime” in the place of issuance, including allowing EU investors to “always redeem their stablecoins at face value,” and requiring issuers to have full reserve backing for the stablecoins issued, such stablecoin issuers should not be allowed to operate in the EU. Lagarde said, “Once a run occurs, investors will naturally tend to redeem in the jurisdiction with the strongest safeguards, which is likely to be the EU, as MiCA also prohibits charging redemption fees. However, reserves held in the EU may not be sufficient to meet the demand for such concentrated redemptions.”

Opinion

Bitwise Analyst: The Pokémon card market is undergoing a transformation towards RWA cryptoization, which may impact Polymarket's prediction markets.

Bitwise analyst Danny Nelson pointed out that the Pokémon card market is undergoing a transformation into cryptocurrency. Currently, most RWA projects in the crypto space primarily serve traditional financial markets, such as government bonds, real estate, gold, and stocks. However, these markets already have established digital trading systems, so the transition to crypto only brings efficiency improvements and does not fundamentally change their operating models. In contrast, the Pokémon card market has reached a scale of billions of dollars but still primarily relies on offline transactions with inefficient trading processes. The social auction app Whatnot generated $3 billion in sales through Pokémon card transactions last year, but the market still lacks formal investment tools such as ETFs or funds. This week, the tokenized Pokémon card trading platform CollectorCrypt has attracted significant attention. Users can quickly buy and sell digital cards or deposit physical cards into the platform to generate NFTs for trading. Its token CARDS has surged tenfold within a week, with an estimated annual revenue of $38 million. Additionally, the “Gacha machine” generated $16.6 million last week, facing restocking pressure due to high demand. Danny Nelson believes that the crypto innovation in the Pokémon card market could become a mainstream breakthrough point, similar to the impact of Polymarket on prediction markets, creating global demand for new services.

CryptoQuant: The key monthly support for BTC is $107,600, and the market is in a recovery phase.

CryptoQuant analyst Axel Adler Jr. stated that BTC is currently priced at $110,700 on the monthly level, slightly above the short-term holder realized price (STH Realized Price) of $107,600, which is considered a key monthly bull market support level. The overall realized price is $52,800, while the long-term holder realized price (LTH RP) is $35,600, with the current price significantly above both, confirming a structural upward trend. Additionally, the NUPL indicator is at 0.53, indicating that the market is in a broadly profitable state but has not yet reached the extreme levels of previous cycles. Higher time frames (Higher TF) remain bullish, but the market is still in a repair phase and is sensitive to profit-taking. The key reference point is the STH realized price of $107,000; holding this area will support the continuation of the upward trend. Currently, NUPL has not shown any signs of final euphoria, indicating that there is still room for further increases after consolidation.

Glassnode: If Bitcoin falls below $104,000, it may trigger a price drop to between $93,000 and $95,000.

According to Glassnode's analysis, investors are actively accumulating in the “blank zone” of Bitcoin between $108,000 and $116,000, reflecting constructive behavior of buying on dips, but there remains a risk of further contraction in the short term. If it breaks above $114,000 to $116,000, the upward trend will be reignited; conversely, a drop below $104,000 could trigger a price decline to $93,000 to $95,000. The profit rate for short-term holders rebounded from 42% to 60%, but the market is still in a fragile state and needs to continuously rise to $114,000 to $116,000 to strengthen market confidence. In addition, the funding rate in the futures market is neutral but faces the risk of weakened demand, and ETF fund inflows have also significantly slowed. Previously, Bitcoin ETF fund inflows were primarily driven by directional spot demand, while Ethereum exhibited a mixed model of spot demand and arbitrage strategies.

Project Updates

Holding at least 220 Binance Alpha points can claim 50 TRADOOR airdrop.

Binance Alpha becomes the first platform to launch Tradoor (TRADOOR), with Alpha trading starting at 20:00 Beijing time on September 4, 2025. Users holding at least 220 Binance Alpha points can claim an airdrop of 50 TRADOOR tokens, on a first-come, first-served basis. If the event is not over, the points threshold will automatically decrease by 15 points every hour.

Holding 220 Binance Alpha points allows you to claim 2700 Union token U airdrop.

Binance Alpha has become the first platform to list Union (U) for trading, which will commence at 17:00 Beijing time on September 4, 2025. During the event, users holding at least 220 Binance Alpha points can claim airdrops of 2,700 U tokens, on a first-come, first-served basis. If the event has not ended, the points threshold will automatically decrease by 15 points every hour.

Binance Alpha will launch Gata (GATA) today at 18:00, with an airdrop threshold of 220 Alpha points.

According to the official announcement, Binance Alpha is the first platform to launch Gata (GATA), with trading starting on September 4, 2025, at 18:00 (UTC+8). After trading begins, users holding at least 220 Binance Alpha points can claim airdrop of 500 GATA tokens. First come, first served. If the event has not ended, the score threshold will automatically decrease by 15 points every hour. Please note that claiming the airdrop will consume 15 Binance Alpha points. Users must confirm the claim on the Alpha event page within 24 hours, or it will be considered as giving up the airdrop.

River claims that its customer base reinvests an average of 22% of their profits into Bitcoin.

According to Cointelegraph, Bitcoin financial services company River stated that its enterprise clients reinvest an average of 22% of their profits into Bitcoin, indicating that Bitcoin is gaining increasing grassroots adoption. Sam Baker, a research analyst at River, mentioned in a report released on Wednesday that real estate companies are the largest adopters among River's client base, with nearly 15% of real estate firms reinvesting in Bitcoin. Clients from the hotel, finance, and software industries allocate 8% to 10% of their profits to Bitcoin, and even gyms are adopting it. Baker noted that these companies had purchased 84,000 Bitcoins by 2025, accounting for about a quarter of the total reserves held by institutions and enterprises. He believes that small businesses find it easier to adopt Bitcoin due to fewer barriers, while large companies tend to follow conventions and avoid controversies, resulting in few holders in the S&P 500. River also found that over 40% of businesses invest 1% to 10% of their profits into Bitcoin.

Moca Network has launched a $20 million MocaPortfolio, providing the community with the opportunity to engage with the Animoca ecosystem.

According to the official blog of Animoca Brands, the flagship project Moca Network launched by Animoca Brands today announced the upcoming launch of MocaPortfolio, which will provide the Moca Network community with access to the Animoca Brands ecosystem. Participants in MocaPortfolio will be eligible to receive a total token allocation worth $20 million from the investment and partnership project portfolio of Animoca Brands, according to established vesting terms. MocaPortfolio provides a new way for MOCA Coin (MOCA) holders and the Mocaverse NFT community to participate in and support Animoca Brands' portfolio companies by acquiring vested token allocations, which is distinctly different from traditional one-time airdrop models. Kenneth Shek, the project leader of Moca Network, stated that MocaPortfolio adds a new layer of value accumulation to MOCA, complementing the upcoming Moca Chain token economics. Through MocaPortfolio, participants can gain access to selected token channels. The first registration event for MocaPortfolio will launch in the fourth quarter of 2025, involving Magic Eden tokens (ME), with other tokens from the Animoca Brands portfolio to be announced subsequently.

Prediction market Polymarket has received approval from the CFTC to return to the US market.

According to Decrypt, Polymarket CEO Shayne Coplan stated on Wednesday that the company, which had been fined and forced to relocate overseas for several years due to alleged violations of existing regulations, has now received approval from the CFTC to resume operations in the United States. The CFTC announced in a statement today that it will not take enforcement action against Polymarket's acquisition of the regulated derivatives exchange QCX in July, and it has exempted the company from certain record-keeping and data reporting requirements. A few minutes after the statement was released, Coplan stated that this non-action letter effectively allows Polymarket to operate in the U.S. under QCX's license.

Important Data

Deribit: Over $4.5 billion in Bitcoin and Ethereum options are set to expire, with Ethereum call options concentrated above $4,500.

According to Deribit's announcement, over $4.5 billion in cryptocurrency options will expire at 16:00 on September 5th, Beijing time. The notional value of Bitcoin options reaches $3.28 billion, with a Put/Call ratio of 1.38, the maximum pain point at $112,000, and open interest concentrated in the range of $105,000 to $110,000, leaning bearish. The notional value of Ethereum options is $1.27 billion, with a Put/Call ratio of 0.78, the maximum pain point at $4,400, with fund flows relatively balanced, but call options concentrated above $4,500. The market is watching whether the expiration will allow Bitcoin to maintain its current price or trigger a breakout.

USDC Treasury minted 250 million USDC on Solana.

According to Whale Alert, USDC Treasury has just minted 250 million USDC on the Solana network, worth approximately $249.96 million.

Cumberland is suspected to have joined WLFI as a market maker, receiving 10 million WLFI 2 hours ago.

According to on-chain data observed by ai_9684xtpa, Cumberland DRW is suspected to have started market making for WLFI. Two hours ago, they received 10 million WLFI (approximately $2.05 million) from BitGo, and there have been relatively frequent small transactions on the chain in the past 24 hours. Notably, Cumberland is also one of the market makers for the Memecoin TRUMP. If the news is true, WLFI will have the support of three major market makers: DWF, Jump, and Cumberland.

Another new wallet received 15,000 ETH from FalconX, worth approximately $66.11 million.

According to Onchain Lens monitoring, about an hour ago, another new wallet received 15,000 ETH (worth approximately $66.11 million) from FalconX. Today, a total of four new wallets have withdrawn 80,662 ETH (worth approximately $353 million).

Bitcoin spot ETF saw a total net inflow of $301 million yesterday, with only ARKB experiencing a net outflow.

According to SoSoValue data, yesterday (Eastern Time September 3) the total net inflow for Bitcoin spot ETFs was $301 million. The Bitcoin spot ETF with the highest net inflow yesterday was Blackrock ( ETF IBIT, with a single-day net inflow of $290 million, bringing the total historical net inflow for IBIT to $58.669 billion. The second highest was Grayscale ( Bitcoin Mini Trust ETF BTC, with a single-day net inflow of $28.8293 million, and the total historical net inflow for BTC currently stands at $1.778 billion. The Bitcoin spot ETF with the highest net outflow yesterday was the Ark Invest and 21Shares ETF ARKB, which had a single-day net outflow of $27.9016 million, while the total historical net inflow for ARKB is currently $2.137 billion. As of the time of writing, the total net asset value of Bitcoin spot ETFs is $145.247 billion, with an ETF net asset ratio (market capitalization as a share of total Bitcoin market capitalization) of 6.5%, and the historical cumulative net inflow has reached $54.875 billion.

pump.fun's revenue in the past 24 hours reached $2.55 million, surpassing Hyperliquid.

According to SolanaFloor monitoring, pump.fun's revenue in the past 24 hours has reached $2.55 million, surpassing Hyperliquid's $2.23 million during the same period, making it the highest-grossing application in the cryptocurrency space, currently only behind stablecoin issuers like Tether and Circle.

Three newly created wallets received 65,662 ETH from FalconX, worth approximately $293 million.

According to Onchain Lens monitoring, one hour ago, three newly created wallets received 65,662 ETH (worth approximately $293 million) from FalconX.

An address containing 479 BTC was activated after being dormant for 12.8 years.

According to Whale Alert monitoring, a dormant address that has been inactive for 12.8 years has just been activated, containing 479 BTC (worth 53.68 million USD).

34,000 ETH was withdrawn from Binance to two newly created wallets at 1 AM.

According to on-chain analyst Yu Jin's monitoring, after ETH surged from $4,350 to $4,480 last night, 34,000 ETH ) worth $115 million ( was subsequently withdrawn from Binance to two newly created wallets at 1 AM.

Bitcoin's daily hash rate reached a historic high of 1.279 ZH/s.

According to Decrypt, mining data platform CoinWarz shows that Bitcoin's daily hash rate hit a record high of 1.279 ZH/s on Tuesday, despite the asset's price remaining relatively stable over the past 24 hours. The seven-day moving average of Bitcoin's hash rate also reached a high, surpassing 1 ZH/s during this period. Although miners continue to face rising energy costs and decreasing rewards, the hash rate continues to rise. Since last year’s ‘halving’, miners' earnings have decreased from 6.250 Bitcoins to 3.125 Bitcoins. Miners typically rely on the rising price of Bitcoin to cover their costs, but the asset's price has been volatile, prompting some major miners to turn to high-performance computing.

) Financing/Acquisition

The Story-based IP tokenization platform Aria has completed a $15 million financing round, led by Polychain Capital and Neoclassic Capital.

According to The Block, the Story-based intellectual property ###IP( asset blockchain platform Aria has completed a seed and strategic round of financing co-led by Polychain Capital and Neoclassic Capital, with a total amount of 15 million USD and a valuation of 50 million USD. Aria focuses on music IP tokenization, and its first APL token has been launched, allowing holders to earn music copyright revenue through staking. The new funds will be used to expand into more IP categories such as art and film. The platform's revenue comes from IP issuance, trading, and management fees, with current priority on ecosystem expansion and a temporary exemption from some issuance fees.

The crypto game studio GLHF has completed a $2.3 million financing round, led by 1confirmation.

The crypto-native game studio GLHF has announced the completion of a $2.3 million financing round, led by 1confirmation, with participation from several angel investors in the crypto space. The new funds are intended to expand the scale of its flagship crypto game Gigaverse and to develop new game features.

Etherealize completed a $40 million financing round, led by Electric Capital and Paradigm.

Etherealize, a startup building products and infrastructure for financial institutions on Ethereum, announced the completion of a $40 million financing round, led by Electric Capital and Paradigm, with initial funding from Vitalik Buterin and the Ethereum Foundation. Etherealize was co-founded by Vivek Raman and Danny Ryan, and is dedicated to developing Ethereum-based asset tokenization and infrastructure for financial institutions. The team plans to digitize traditional financial products like mortgages and credit through blockchain technology, promoting the adoption of Ethereum technology by Wall Street institutions.

Stablecoin infrastructure company Utila has completed a $22 million financing round, led by Red Dot Capital Partners.

Stablecoin infrastructure company Utila has completed a $22 million financing round, led by Red Dot Capital Partners, with participation from Nyca, Wing VC, DCG, and Cerca Partners. Utila provides a digital asset operating platform for enterprises, with clients including payment service providers and neobanks. The company processes over $15 billion in transactions monthly, and its client base has doubled since March. Utila plans to accelerate its expansion into emerging markets in Latin America, Africa, and the Asia-Pacific region.

) Institutional Holdings

Bitmine has received a total of 80,325 ETH from two institutional platforms in the past hour, worth $358 million.

According to on-chain analyst Yu Jin's monitoring, Bitmine###BMNR( received 80,325 ETH) worth $3.58 billion( from the business platforms of Galaxy Digital and FalconX in the past hour. This should be the ETH they purchased this week, plus the 1,866,974 ETH they held as of 8/31, which means they now have 1,947,299 ETH) worth $186.9 billion(.

TON Strategy Company approves a $250 million stock repurchase plan

According to Businesswire, TON Strategy Company (NASDAQ: TONX) announced that its board of directors has unanimously approved a stock repurchase plan, authorizing the company to repurchase up to $250 million of its common stock. Under this plan, the company may repurchase shares from time to time through open market transactions or other methods that comply with applicable securities laws and regulations. The company's Executive Chairman Manuel Stotz stated, “Aside from market conditions and other factors, if the company’s stock price has a premium over the net asset value, the company might consider issuing shares to acquire TON tokens. Conversely, if the company’s stock price has a discount to the net asset value, the company may consider repurchasing its own stock.”

Hedge fund giant Millennium disclosed that it increased its holdings in Bitcoin ETF worth $244 million in Q2.

According to The Bitcoin Historian, hedge fund giant Millennium disclosed that it purchased $244 million worth of Bitcoin ETFs in the second quarter.

American Bitcoin disclosed that it holds 2,443 bitcoins, an increase from the 152 bitcoins stated in the initial disclosure document.

According to Bitcoin News, the Trump family-related Bitcoin mining company American Bitcoin has disclosed that it holds 2,443 Bitcoins (worth $273 million), a significant increase from the 152 Bitcoins reported in the initial disclosure.

American Bitcoin rose nearly 17% on its first day of listing, and the shares held by Eric Trump are now worth over $500 million.

According to The Block, American Bitcoin (stock code ABTC), a Bitcoin mining company related to the Trump family, rose nearly 17% on its debut on Nasdaq, reaching $8.04 per share, with the intraday price touching around $14 at one point. The stock had a trading volume of over 29 million shares on its first day on Nasdaq. In contrast, the recent cryptocurrency IPO projects Circle and Bullish, which went public at a higher share price, had trading volumes of 46 million shares and 58 million shares respectively on their first day. Eric Trump, Trump's son, stated on Wednesday: “Essentially, we have an excellent mining business. Currently, our cost of mining Bitcoin is about half of the actual price of Bitcoin. We have fixed assets worth hundreds of millions of dollars, and we have data centers backing us… When others have to buy Bitcoin at market price, we can mine Bitcoin at a significantly lower price than the market price.” According to Bloomberg analysis, the successful listing of American Bitcoin means that the shares held by Eric Trump in the company are worth over $500 million.

The listed company SUI Group has increased its holdings by approximately 20 million SUI, with a total position size exceeding 300 million USD.

According to The Block, Nasdaq-listed company SUI Group Holdings announced on Wednesday that after increasing its holdings by approximately 20 million SUI tokens, the value of its SUI token holdings has exceeded $300 million. The company stated that as of Wednesday, it holds 101,795,656 SUI tokens, valued at $344 million. Stephen Mackintosh, Chief Investment Officer of SUI Group, said: “We plan to continue seeking capital increases to purchase discounted locked SUI tokens, thereby increasing the per-share SUI token holdings and creating value for shareholders.” SUI Group, formerly known as the short-term lending institution Mill City Ventures, has reached an agreement to purchase tokens directly from the Sui Foundation at a discounted price. Mill City established its position as the official SUI token reserve through completing a $450 million private placement. The company stated that it currently has approximately $58 million in cash available to purchase more SUI tokens.

AlphaTON Capital announced the launch of its TON digital asset strategy, acquiring approximately 100 million USD TON.

AlphaTON Capital (formerly Portage Biotech, Nasdaq: ATON) announced that it will acquire approximately $100 million worth of Toncoin (TON) through private placement financing and a BitGo loan, and establish a TON digital asset corporate treasury. The company will focus on TON token reserves, network validation, and incubation of ecological projects to promote the development of Telegram ecosystem applications. Brittany Kaiser has been appointed as CEO, and Enzo Villani as Executive Chairman. The company has reached strategic cooperation with BitGo, Animoca Brands, Kraken, and others, and the stock will start trading under the new code “ATON” on September 4.