![[LIVE] Current Crypto Updates, August 7 – Conflicting Indicators From The Trading market As BTC Stays Near $115K Is There an Optimal Crypto to Invest In At This Moment?](https://i1.wp.com/99bitcoins.com/wp-content/uploads/2025/08/IMG_0827-300x171.jpeg?w=770&resize=770,470&ssl=1 "[LIVE] Current Crypto Updates, August 7 – Conflicting Indicators From The Trading market As BTC Stays Near $115K Is There an Optimal Crypto to Invest In At This Moment?")
[LIVE] Current Crypto Updates, August 7 – Conflicting Indicators From The Trading market As BTC Stays Near $115K Is There an Optimal Crypto to Invest In At This Moment?
The quest for the top digital currency to purchase at the moment goes on as the crypto market delivers varied signals. BTC is currently around $115,000, situated in a low-trading zone between $110K and $116K. Traders are closely monitoring this narrow range, as a drop could provoke further declines. Meanwhile, ETH fleetingly surpassed $3,700 before retracting, contributing to the market’s ambiguous atmosphere.
However, there is additional information.
Certain segments are outperforming others. Layer 2 tokens such as Mantle surged over 20% in the past week, while tokens from centralized exchanges like BNB and CRO experienced slight increases. Conversely, meme coins, PayFi initiatives, and AI tokens suffered losses, reflecting diminished crypto holder confidence.
ETF activity has begun to recover positively. On August 6, U.S. spot Bitcoin ETFs witnessed $91.55 million in net inflows following four days of outflows. Likewise, ETH ETFs noted $35.12 million in net inflows, with only Grayscale’s ETH Mini Trust reporting a minor outflow.
EXPLORE: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025
Binance unveiled its most recent Proof of Reserves report, indicating a nearly 3% rise in user Bitcoin holdings to 591K Bitcoin. However, ETH holdings decreased by nearly 10%, possibly due to a shift to other assets. USDT balances climbed to almost $30 billion, suggesting a steady demand for stablecoins.
Activity on the Ethereum protocol is also intensifying. The protocol processed 1.87 million transactions yesterday, approaching its record high. As reported by Nansen, significant portions of this activity stem from USDC, Tether, and Uniswap.
(Source)
Best Crypto asset to Purchase? Observe Where Activity Is Increasing
In this volatile environment, we can still ponder: what’s the top cryptocurrency to acquire right now? Currently, Layer 2 tokens and CeFi coins are demonstrating strength, supported by rising usage and investor interest. Although BTC remains within a range, altcoins linked to genuine platform activity or ETF momentum may present the most favorable short-term opportunities.
Nevertheless, prudence is essential. Until Bitcoin convincingly exceeds $116,000, potential gains could be fleeting. Monitoring sector rotation and inflows will be vital in identifying the next significant movement.
Union Jack Oil Eyes Early Bitcoin Mining at West Newton Site
Union Jack Oil plc has proclaimed preliminary plans to capitalize on gas from its West Newton site (PEDL183) by initiating on-site Bitcoin block rewards operations. The operator, Rathlin Energy, has entered into a non-binding Letter of Intent with Texas-based 360 Energy Inc. to investigate the establishment of gas-powered data centers.
This approach aims to transform natural gas from the WNA-2 well into electricity to mine BTC, providing early cash flow before complete field development. The firms are currently negotiating a definitive agreement, pending regulatory authorization.
Executive Chairman David Bramhill described the proposal as an innovative solution amidst planning delays, with the potential to yield substantial returns and bolster a prospective Bitcoin treasury strategy.
West Newton is estimated to contain 200 billion cubic feet of recoverable gas, ranking it among the UK’s largest onshore gas prospects.
Delhi High Court Tells WazirX To Hand Over Binance Deal
The Delhi High Court has mandated Zettai Pte Ltd, the entity behind the WazirX crypto exchange, to submit documents that outline its agreement with Binance, alongside its ongoing restructuring strategy.
The court set a one-week deadline. This comes after months of repercussions from a $235 million breach and an increasing number of lawsuits from creditors seeking to recover lost assets.
Now, creditors are demanding clarification after the major breach.
The post [LIVE] Latest Crypto News, August 7 – Mixed Signals From The Crypto market As Bitcoin Hovers Around $115K Is There a Best Crypto to Buy Right Now? appeared first on 99Bitcoins.
