- Bitcoin surged 5% to $81,300 and crypto majors rallied as rate hike odds cooled; BTC ETFs saw $730 million in net inflows, their largest day since January.
- Altcoins hit new all-time highs, with ZCash surpassing $1,000, Hyperliquid hitting $87, and LIT reaching $4.70.
- AMC CEO Adam Aron called Robinhood’s tokenized stock offerings “contemptible,” prompting a reply from CEO Vlad Tenev that sparked a meme coin rally.
Bitcoin reclaimed the $80,000 mark and pushed past $81,100 on Thursday as the Dow Jones Industrial Average added 453 points, driven by cooling odds of a Federal Reserve rate hike. Over 119,000 traders were liquidated for more than $500 million in a single day, according to data from Coinglass.
The rally erased a week of losses across the board. XRP led major cryptocurrencies with a 7.8% gain, while BNB and Solana each added roughly 5%, and Ethereum climbed 4.7% to $2,497.
Altcoins saw explosive moves, with Zcash jumping 18% to a new all-time high above $1,000. Meme token PONS ran 56% and is up 3,001% over 30 days, while Lighter hit a new ATH with a 16.8% gain.
The Bitcoin ETFs saw $730 million in net inflows on Thursday, and the Ethereum ETFs saw $141 million in inflows, breaking a three-week green streak. According to Standard Chartered, the bank began offering institutional Bitcoin and Ethereum spot trading through its Dubai branch, marking a first for a top global bank in the region.
AMC CEO Adam Aron called Robinhood’s tokenized stock tokens “contemptible, outrageous, and vile,” stating the theater chain has no connection to tokens tracking its share price. Robinhood CEO Vlad Tenev replied with a post reading “What’s the concern?”
The exchange immediately sparked a massive meme coin rally, with new token MEME running 260x to $100 million in just a few hours. Polymarket launched Polymarket Perps with up to 20x leverage on crypto, stocks, commodities and more.
Coinbase filed two SEC notice registrations to bring single-stock perpetual futures to U.S. traders, while SoFi and Kraken parent Payward linked up to place Kraken on SoFi’s round-the-clock dollar settlement network. The August jobs report is due this morning, which will likely dictate whether this rally continues into the September 15-16 Fed meeting.
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