🔄 After the “no,” the “maybe”: Bessent muddles the waters on BTC purchases
Welcome to the Daily for Saturday, August 16, 2025 ☕️
Hello Cointribe! 🚀
Today is Saturday, August 16, 2025, and as every day from Tuesday to Saturday, we bring you a summary of the last 24 hours of news you shouldn’t miss!
But first…
✍️ Cartoon of the day:
A quick look at the market…
🌡 Weather:
🌧️ Rainy
24h crypto recap! ⏱
🤖 Perplexity AI targets $20B valuation and makes a $34.5B bid for Chrome
On August 12, 2025, Perplexity AI announced a $34.5B bid to acquire Google Chrome, while aiming for a $20B valuation. The startup reports 22M monthly users and $150M ARR, leveraging Google’s antitrust scrutiny to justify this bold move.
👉 Read the full article
🇺🇸 Scott Bessent backtracks: U.S. bitcoin purchases could return
After ruling out new acquisitions, Scott Bessent stated on August 14, 2025 that “budget-neutral” options remain available to increase America’s BTC reserves. The market corrected then stabilized, while official communication maintained the possibility of using bitcoins seized in legal proceedings.
👉 Read the full article
📜 SEC delays decision on Solana ETF to October 16, 2025
The SEC extended its review of the Bitwise, 21Shares, and Canary Capital filings, setting October 16, 2025 as the final deadline. Analysts, including James Seyffart, remain cautiously optimistic, while SOL maintains a positive technical momentum.
👉 Read the full article
💼 Coinbase acquires Deribit for $2.9B, takes lead in derivatives
On August 14, 2025, Coinbase announced the $2.9B acquisition of Deribit, a leading options exchange with $185B in volume and $60B in open interest in July 2025. The deal unifies spot, futures, perpetuals, and options, boosting Coinbase’s appeal among institutional investors.
👉 Read the full article
Crypto of the Day: Jupiter (JUP)
🧠 Innovation and Added Value
Jupiter is the leading DEX aggregator on Solana, offering optimized swaps by minimizing slippage through intelligent routing across multiple liquidity sources. It also provides advanced features such as limit orders, DCA, a launchpad, and integrated DeFi tools, making it a true DeFi super-app. Jupiter concentrates over half of Solana’s DEX volume and aims to become an essential hub for the Web3 ecosystem.
💰 The JUP Token: Utility and Holder Benefits
The JUP token powers protocol governance via the Jupiter DAO. Holders participate in strategic votes, guide development direction, and support community projects. In addition, JUP is designed to align incentives between traders, developers, and validators, strengthening Jupiter’s position as a key decentralized finance platform on Solana.
📊 Real-Time Performance (August 16, 2025)
Current Price: $0.512235 USD
24h Change: –2.54 %
Market Cap: ≈ $1.566B USD
CoinMarketCap Rank: #61
Circulating Supply: 3,058,272,222 JUP
24h Trading Volume: ≈ $56.66M USD
Memecoins in Freefall: The End of a Cycle?
The memecoin fever, which set crypto markets ablaze in 2021 and again in 2023, now seems to be losing steam. Their dominance within the altcoin market has dropped to its lowest level since February 2024, overshadowed by Ethereum’s strong momentum.
Declining Dominance and Capital Shift Toward Ethereum
According to CryptoQuant data, memecoin dominance has fallen to 0.039 — an 18-month low. This metric measures the share of memecoins within the altcoin market, and its collapse reflects a clear loss of investor interest. This retreat comes amid a broader reconfiguration: Ethereum is capturing a growing share of capital, boosted by the rise of spot ETFs, the evolution of its DeFi ecosystem, and increasing institutional adoption.
This unfavorable dynamic is also seen in individual performances. Cryptocurrencies like Dogecoin, Shiba Inu, or Pepe — once the flagbearers of the trend — are struggling to maintain their appeal. Today, the market seems to value protocol resilience and clear use cases more than viral hype fueled by social media. In this new paradigm, memecoins appear to be losing ground.
Altseason Ahead or the End of the Memecoin Mirage?
Some analysts, however, interpret the situation cyclically. They argue the crypto market follows a four-step sequence: Bitcoin’s rise, Ethereum’s dominance expansion, then a broader shift toward altcoins — an “altseason” that could reignite speculative momentum around memecoins. This pattern, often seen in past bull markets, fuels hopes of a comeback.
Current weakness in memecoins might therefore not be a definitive collapse but a silent accumulation phase, typical of transition periods. If this scenario plays out, some struggling assets could suddenly regain investor attention. But for now, the outlook remains uncertain, hinging on overall market signals and institutional decisions.
