![[LIVE] Today’s Crypto asset Update, August 29 – $15 Billion in Bitcoin and ETH Options Expire, Binance Futures Goes Offline: Chainlink and Pyth Vie for Top Crypto to Purchase Right Now](https://i2.wp.com/s.w.org/images/core/emoji/16.0.1/72x72/1f392.png?w=770&resize=770,470&ssl=1 "[LIVE] Today’s Crypto asset Update, August 29 – $15 Billion in Bitcoin and ETH Options Expire, Binance Futures Goes Offline: Chainlink and Pyth Vie for Top Crypto to Purchase Right Now")
[LIVE] Today’s Crypto asset Update, August 29 – $15 Billion in Bitcoin and ETH Options Expire, Binance Futures Goes Offline: Chainlink and Pyth Vie for Top Crypto to Purchase Right Now
What’s causing the decline in crypto today? Friday, August 29, is a significant day for the crypto space as Binance Futures unexpectedly went offline just as an enormous $15 billion in Bitcoin and ETH options contracts are nearing expiration. The Bitcoin options crypto market is displaying a put/call ratio of 0.79, with the “max pain” level positioned at $116,000 and the open interest peaking at $140,000. Similarly, Ethereum contracts exhibit a comparable optimistic trend, with a put/call ratio of 0.76 and max pain at $3,800.
With traders poised for potential volatility, the outage injects added unpredictability — leading many to ponder which crypto might be the best investment at this moment.
BREAKING: BINANCE FUTURES OFFLINE TO PREVENT SELLING. UP ONLY WILL RESUME SOON. https://t.co/cflQlRG5rk
— VikingXBT (@VikingXBT) August 29, 2025
Some traders are humorously suggesting that maybe the trading market can finally rise now that Binance Futures is momentarily offline. However, that isn’t the case — at least not for the time being. Yet, not all cryptocurrencies are experiencing declines.
Two potential contenders for the best crypto to buy right now might be Chainlink (LINK) and Pyth Network (PYTH): both have secured notable roles in integrating U.S. government economic data on-chain.
Chainlink has been outpacing many altcoins lately, driven by robust fundamentals: new adoption by U.S. government and institutional players, an expanding array of use cases in real-world asset tokenization, and its growing significance as fundamental blockchain infrastructure. These factors imply that LINK could still have further upward potential even amid widespread crypto market turbulence.
EXPLORE: Top 20 Cryptocurrencies to Invest in 2025
Chainlink and Pyth Network Strengthen Their Position with U.S. Government Support: Is Now the Time to Buy?
Both Chainlink and Pyth are gaining traction through groundbreaking collaborations with the U.S. Department of Commerce. LINK’s upward momentum is driven by two significant advancements:
- Collaboration with the U.S. Department of Commerce. The DOC declared it will utilize Chainlink to import essential macroeconomic data, including GDP, the PCE inflation index, and consumption statistics — on-chain from the Bureau of Economic Analysis.
- Establishment of the First Public Company LINK Treasury. Caliber, a real estate asset manager listed on NASDAQ, initiated the first-ever corporate LINK treasury, directing funds into Chainlink.
These developments reinforce Chainlink’s status as a crucial infrastructure layer for tokenized assets and global finance, offering investors compelling reasons to regard it as the best crypto to acquire now.
Regarding Pyth Platform (PYTH): PYTH surged by 91% within 24 hours following its selection to distribute official GDP data across over 100 blockchains. The token’s trading volume exceeded $2.1 billion, with a crypto market cap of $1.2 billion, as momentum indicators like MACD demonstrated a uptrend divergence.
$PYTH is considerably undervalued compared to $LINK and now that we’re integrating U.S. GDP data on blockchains powered by @PythNetwork, repricing is about to commence and it’ll be a spectacle.
imagine if PYTH matches LINK’s crypto market cap price…? pic.twitter.com/B5n2Rd5857— sumptu◎us
(@sumptuosol) August 29, 2025
Pyth is on track to release five years’ worth of historical GDP data and extend into additional macroeconomic indicators. Can PYTH genuinely rival LINK?
As of this writing, BTC is trading near $110,300 and ETH close to $4,390, with Chainlink’s momentum steady. Significant volatility is anticipated.
Keep an eye on our real-time updates below.
PetroChina Investigates Stablecoin-Based Cross-Border Settlements Amid Changes in Hong Kong Regulation
PetroChina has revealed intentions to explore the potential of stablecoins for cross-border settlements and payments, marking a transformative step forward in financial innovation in the energy sector. This update coincides with the implementation of Hong Kong’s new stablecoin regulatory framework, which came into effect on August 1, mandating issuers to obtain licenses and comply with stringent capital requirements.
According to Yahoo Finance, PetroChina’s CFO Wang Hua confirmed the initiative during the company’s half-year results briefing, emphasizing that the organization is keeping a close watch on developments from the Hong Kong Monetary Authority. This positions PetroChina as one of the pioneering energy corporations to delve into digital asset-based settlements under Hong Kong’s new guidelines.
Industry analysts believe stablecoins could cut costs, mitigate foreign exchange risks, and enhance efficiency in global energy trading.
Mantle Exceeds $4 Billion in Treasury Assets, Establishes Market Leadership
Mantle has announced that its treasury has surpassed $4 billion in assets, making it the largest in the crypto asset sector. Alongside this achievement, Mantle emphasized its role in the recent U.S. Department of Commerce and Chainlink integration, which seeks to bring essential U.S. government data on-chain.
The article [LIVE] Today’s Digital currency Update, August 29 – $15 Billion BTC and ETH Options Expiring, Binance Futures Offline: Chainlink and Pyth Compete for Best Crypto to Acquire Now originally appeared on 99Bitcoins.
