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SwapSpace Weekly Recap: Market correction, Trump’s crypto 401(k), and Ethereum NYC
The crypto market saw huge turbulence last week, swinging from new highs to sharp corrections, shaking both major coins and altcoins. Traders are now watching policy and macroeconomic moves for the next direction. Read SwapSpace's weekly recap to learn more.
Last week's highlights
- $100B market cap wiped out in sharp correction
Bitcoin briefly spiked above $124,000 before tumbling to $115,000, while Ethereum slid below $4,800 after recent highs. This sudden drop erased over $100B from the crypto market within 24 hours, causing widespread liquidations and a halt in the anticipated altcoin rally. Bitcoin’s dominance rose to 55% as investors sought safety, draining liquidity from smaller tokens.
Tip: To have a deeper understand of how BTC and ETH work, read our detailed reviews of Bitcoin and Ethereum
- Altcoins post both huge gains and losses
While altcoin momentum cooled overall, some tokens bucked the trend: $ALU soared +255%, $OKB rallied +162%, and $EDGE was up +152%. Meanwhile, $PUBLIC and $ZKJ plunged -54% and -35%, respectively, highlighting the split fortunes across the sector as speculative bets either paid off big or crashed hard.
Side note: Our team has prepared an overview of this year's altcoin season, check it out!
- Ethereum NYC and other blockchain events shine spotlight on innovation
From August 11–17, Ethereum NYC, Pragma New York, and ETHGlobal New York brought together developers, founders, and enthusiasts to discuss scaling, research, and Web3 adoption. These flagship events emphasized collaboration and showcased innovations that could shape crypto market directions.
- Trump greenlights crypto 401(k)s
In a landmark moment for U.S. regulation, President Donald Trump signed an executive order allowing cryptocurrencies to be included in 401(k) retirement plans. This move is seen as a big step toward mainstream adoption, and was welcomed by both crypto advocates and treasury investors.
Last week’s stats
Top gainers
Top losers
Key pairs
What to watch this week?
- Over $850M in token unlocks incoming
Scheduled token releases this week include $SOL, $CHEEL, $CONX, $AVAX, and $APT, with about 14% of the total going to insiders. Watch for new waves of volatility as these tokens hit the market—price impact could be sharp, especially for those with low liquidity or insider-heavy unlocks.
- Key support for Bitcoin and Ethereum
Traders are closely monitoring whether Bitcoin can hold the crucial $118,000 level. Ethereum bulls want to see a push back above $5,000 to restart momentum for altcoins. The trajectory at these points will likely define the market’s next leg—either consolidation or renewed upside.
- ETF flows and regulatory headlines
After last week’s sharp swings, further ETF inflows or regulatory developments could propel new moves. Updates on the SEC’s stance toward staking also remain in focus, as the agency clarified that liquid staking tokens are not considered securities.
It was a wild week for crypto, with sharp selloffs, regulation wins, and heavyweight investments reshaping the landscape. Whether you’re buying into a rebound or watching for better entry points, the coins mentioned above are available on SwapSpace. Explore SwapSpace’s Price Prediction page for updated insights, or test out our exchange aggregator to get the best rates on your next trade.
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