OVERVIEW

That's One Big Short Squeeze 🗜️

Here’s What’s Happening 👇️

TECHNICAL ANALYSIS
Big Moves, Much Wow 🐶

In case you missed it, crypto is having a nice, big, green day. Just look at the gif above. 🟢

Bitcoin

As of 1600 EST, this is Bitcoin’s best day since March 4, 2026. Currently up +6%.

Ethereum

Ethereum is going bonkers with a +10% gain, completing an Ideal Bullish Ichimoku Breakout, and clearing the $2k level for the first time June 1. Best day since February 6, 2026.

Hyperliquid

At +18%, $HYPE ( ▲ 19.8% ) is having it’s best day of 2026 since January 27, 2026 - second best day of the year so far.

Across the board, all the top 50 (excluding stablecoins) market cap crypto tickers are in the green. 👍️

SPONSORED

Manufacturing Legend Backs Greenfield Robotics

Howard Dahl spent decades building the machines that feed America. His family invented the Bobcat skid steer. The air drills planting nearly every commodity crop globally? Those too. Now Dahl is manufacturing weed-cutting robots for Greenfield Robotics out of his Fargo factory, and he wrote his own check on top of it. 

Greenfield's current fleet is sold out, with over $1 million in total revenue and robots in the field since 2020. Chipotle’s venture arm and KingsCrowd Capital are also on board. The robots slice weeds with centimeter precision, replacing herbicides linked to environmental damage and rising health concerns among farmers. 

Greenfield is now in Test the Waters under Reg A+. Reserving shares today locks in a 5% bonus that can grow to 20% the week the round opens to the public.

Reserve Your Shares

_{Greenfield Robotics is Testing The Waters under tier 2 of Regulation A. No money or other consideration is being solicited, and if sent in response will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until the offering statement filed by the company with the SEC has been qualified by the SEC. Any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time before notice of acceptance given after the date of qualification. An indication of interest involves no obligation or commitment of any kind. “Reserving” shares is simply an indication of interest. There is no binding commitment for investors that reserve shares in this manner to ultimately invest and purchase the shares reserved of the company, or to purchase any shares of the company whatsoever.}

ON-CHAIN ANALYSIS
The Float And The Drawdown Have Never Been This Tight 😱

Liquidations over the past 24 hours have been massive. Massive for two reasons. First, today is one of the biggest in months. Second, and most important, the side hurt the most were the shorts. Nearly $2 billions liquidated, $1.77 billion of that from shorts. 🤯

And without even looking at the short interest out there, the supply on exchanges is a pretty good indicator of why today was such a massive wipe out in shorts.

Last August there were 1.27 million $BTC ( ▲ 6.9% ) sitting on exchanges. Fewest in five years. Price was at a record high. Price is down 46% since. And there are more Bitcoin on exchanges today than there were then.

$ETH ( ▲ 15.7% ) went the other direction and landed in the same place. 11.9 million ETH on exchanges last August, 6.6 million now, which is the fewest ever recorded. That low printed the week of August 13. ETH is down 59%.

Over the past twelve months $AAVE ( ▲ 6.3% ) has lost 58% of its supply on exchanges and 72% of its price. Curve lost 24% and 72%. That all got me to thinking. So I did a little more Sherlock Holmes-ish stuffs and looked back all the way to 2021. I wanted to know what happened when the balances fell while prices were also dipping? On the average, things look good but the ‘typical’ ones look kind of rough.

When you’ve got situations like now, where the supply on exchanges is down abut prices keep dipping, Ethereum's next three months average +9.7% and typically deliver -1.4%. AAVE a year out averages +15.9% and typically delivers -27.9%. 

But in nearly all instances, a single little bullish price action event that causes a macro wide jump in crypto is often an early sign that bulls are close to taking control. Record-low balances. Worst drawdown since 2022.

That’s a recipe for some wild moves. 📈

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

🤖 Ankr Gives AI Agents The Keys With A Chaperone

Ankr’s Agent RPC combines blockchain reads across 29 networks with 78 account-management tools under one connection. TORPC cuts token use 64% for receipts and 69% for transactions, while model accuracy improved by up to 21 points. Agents can freeze keys and edit permissions, but deleting credentials still requires human approval. Ankr.

🕶️ Starknet Opens Its Privacy Stack To Builders

Starknet has open-sourced its STRK20 Privacy SDK and Wallet API, letting apps add shielded ERC-20 balances, transfers, and swaps. Every private transaction uses a STARK proof, while deposits and withdrawals remain visible and viewing keys permit selective disclosure. Starknet.

🌱 FLock Wants AI Inference Out Of The Data Center

FLock says AI inference accounts for 80-90% of model energy demand and should move from centralized data centers toward local edge hardware. Distributed inference reduces network travel and cooling needs, while federated learning keeps raw data local and uses 80% less training energy per update. FLoCK.io.

NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙

📊 Pension Funds Are Hedging Inflation Through The Rearview Mirror

The $71 trillion pension market largely hedges inflation using monthly government CPI, leaving funds exposed to stale data and basis risk. Truflation says its daily index leads official CPI by 40-75 days and can support faster hedge adjustments, annuity pricing, and on-chain swap settlement. Truflation.

📈 FXRP Becomes Collateral For XRP Options On Derive

FXRP holders can use the token as collateral on Derive to trade permissionless XRP options, perpetuals, and spot from one portfolio-margin account. The underlying XRP remains on XRP Ledger, while options settle in USDC and require traders to manage margin and settlement balances. XRPFi gains hedging and premium income, plus the usual options footnote. Flare Network.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🛒 Eternal Night Hands The Market To Players

Mirandus: Eternal Night now has a player-run market built around harvesting, crafting, and trading. Four shop types turn gathered materials into gear or food, with GALA crafting fees shared among shop owners, deed owners, and Gala. Sellers set prices, buyers pay distance-based delivery costs, and three new 20-shop towns give landowners more ways to collect rent from somebody else’s labor. Gala Games.

🔧 WEMIX Moves DRACO And HYDRA To Mainnet

WEMIX PLAY has completed the DRACO and HYDRA migration to WEMIX3.0 mainnet and restored most blockchain services, excluding Character NFTs. Legacy liquidity pools are closed, users should withdraw promptly, and token conversion now takes roughly 24 hours through the web or app. Previous WEMIX$ orders were canceled as trading moved to a new WEMIX market. WeMix.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending News 🏦

🔍 ENS Offers $70,000 To Break Its New Apps

ENS and Immunefi opened an audit competition covering 137,000 lines of TypeScript across the new App, Explorer, transaction manager, and smart accounts. It runs through September 14, with up to $70,000 available if researchers uncover a critical vulnerability. Smart contracts are excluded and audited separately; this round hunts the application-layer bugs that turn wallet clicks into expensive stories. Ethereum Naming Service.

NEWS IN THREE SENTENCES
Protocol News 🏦

🏛️ Casper Gets A Seat At Washington’s Crypto Table

Membership does not write the rules, but it gets Casper into the room before somebody else explains the technology to Congress. Casper has joined the Blockchain Association, adding its engineering voice to a Washington group representing more than 100 digital-asset companies. The network plans to contribute to U.S. policy discussions around regulated tokenization, AI payments, privacy, and post-quantum infrastructure. Casper Network.

📡 Helium Plus Drops Deployment Fees To Zero

Helium Plus has eliminated connect fees for every deployer, whether payouts arrive in HNT, USDC, or dollars. Businesses can use existing Wi-Fi to carry participating carriers’ traffic and keep the full network reward, with onboarding fees also waived. Helium.

🚨 Aelf Pauses Network After Suspicious Contract Activity

Aelf paused all Block Producer nodes after monitoring detected an unauthorized smart contract attempting overflow and privilege-escalation operations. The team is deploying a network-wide hotfix and bringing external auditors into what it says is the chain’s first emergency maintenance pause in five years. Assets are reported safe, but no restart time was provided.Aelf.

OLD NEWS
Other Stuff That Happened Today, But A Long Ass Time Ago ⌛️

August 19

• 43 B.C. - Nineteen-year-old Octavian forces the Roman Senate to elect him consul

• 1692 - Five people are hanged for witchcraft in Salem

• 1807 - Robert Fulton’s steamboat reaches Albany, proving commercial steam travel actually works

• 1812 - Cannonballs bounce off the USS Constitution, earning it the nickname “Old Ironsides.”

• 1854 - A dispute over one stray cow leaves 31 U.S. soldiers dead and helps ignite the First Sioux War

• 1909 - Indianapolis Motor Speedway holds its first automobile race

• 1919 - Afghanistan secures independence from British control after the Third Anglo-Afghan War

• 1934 - A heavily manipulated referendum gives Adolf Hitler unchecked executive power in Germany.

• 1964 - Syncom 3 launches and becomes the world’s first geostationary communications satellite

• 1981 - U.S. F-14s shoot down 2 Libyan fighter jets over the Gulf of Sidra

• 2004 - Google goes public at $85 per share, valuing the company at roughly $23 billion

• 2025 - Sweden begins moving a 672-ton wooden church intact to save it from ground deformation caused by mining

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Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLD, NEAR, INJ, LTC, LINK, ZEC, XLM, and FET. 📋