🏦 Aave Hits $60B Deposits — But Watch Out for Scams

💵 DeFi lending giant Aave has surpassed $60B in deposits, growing over $10B just since mid-July. If it were a traditional bank, it would rank among the Top 40 in the U.S. 😳

But here’s the catch:

⚠️ PeckShield warns that a phishing site posing as Aave is ranking first in Google ads. It’s designed to drain wallets and may contain malware.

📌 Double-check URLs. In DeFi, not all that glitters is yield.

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🚀 ETH Rockets Higher!

Over the past night, ETH surged again — now up 6.7% in 24h, briefly touching $4,200.

🐳🔪 Meanwhile, one whale got wrecked, losing $15.85M on a liquidated ETH short.

BTC, however, is still struggling to break the $117K resistance. 🤷

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💰 Bitcoin ETFs now hold 6.38% of BTC supply, while Ethereum ETFs already account for 5.08% of ETH supply 🧐

At the current pace, ETH’s share in ETFs could overtake BTC as early as September — a sign of rapidly growing institutional demand for Ethereum. 🚀

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📉 Crypto’s favorite “M2 = BTC up” pattern just broke

👀 Bitcoin is showing its biggest divergence from the money supply (M2) in 2 years. Normally, M2 growth = inflation fears = more BTC buying. And yes, institutions are quietly stacking.

But there’s a catch: old whales with “free” coins are dumping hard. So instead of rocket fuel, we’re watching supply pressure weigh on the market. 🐋💸

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🐋 NEW: Whale wallet activity signals crypto rebound as $BTC and $ETH stakeholder numbers continue growing, with 13 more 1K+ BTC wallets and 48 more 10K+ ETH wallets added in August.

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🚀 Elon Musk’s companies are Bitcoin giants

Tesla and SpaceX together hold nearly 20,000 BTC ($2.2B) — the largest reserves among tech firms! 💰

For comparison:

▪️Figma: 845 BTC
▪️Mercado Libre: 570 BTC
▪️Rumble: 211 BTC

Musk once again proves he’s all-in on crypto. 🔥

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📊 Bitcoin is now trading exactly at the average cost basis of short-term holders

⚠️ This level acts as a key support zone — if broken, panic selling from this group could trigger stronger downside pressure.

All eyes on whether BTC can hold the line. 🔑

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🐋 LATEST: Average $BTC supply per whale has fallen to ~488 $BTC; the lowest since Dec 2018 per Glassnode.

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🚨 INSIGHT: If you had put $1,000 into $BTC a year ago, it would now be worth $1,938.

The same $1,000 in a 2% savings account would only be worth $1,020.

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📊 Bitcoin ETFs are on a feeding frenzy — in just 5 trading days they swallowed the equivalent of 9 days’ worth of new BTC supply!

That means ETFs alone are creating nearly 2x more demand than miners can possibly provide (and miners don’t even sell everything they mine). 🔨

Simple math: when demand crushes supply, prices usually only have one way to go… 🔼

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