According to BlockBeats, Sonic Labs has announced the official launch of Sonic Testnet 2.1. This update is compatible with Ethereum's Pectra upgrade and includes expanded Sonic functionalities. The mainnet launch is anticipated soon.

According to BlockBeats, Wall Street Journal reporter Nick Timiraos, often referred to as the 'Fed's mouthpiece,' indicated that the threshold for a rate cut has shifted following the release of today's Consumer Price Index (CPI) data. The plan for a rate cut in September might be hindered due to the higher-than-expected CPI figures. Although July's CPI data was not indicative of 'no inflation,' it may still not be sufficient to prevent a rate cut in September.

According to Cointelegraph, a significant cryptocurrency whale has recently acquired $1.34 billion worth of Ether over the past eight days, surpassing record inflows into U.S. spot Ether exchange-traded funds (ETFs). This substantial purchase has fueled speculation regarding the token's price trajectory as investors anticipate key U.S. inflation data. The whale's acquisition involved 312,052 Ether (ETH) spread across ten newly created cryptocurrency wallets, as reported by the crypto intelligence platform Lookonchain. This purchase exceeds the record-breaking inflows to U.S. spot Ether ETFs, which accumulated $1 billion worth of Ether on Monday, marking their largest daily net inflows since their inception. Analysts suggest that this billion-dollar accumulation could potentially drive Ether closer to its previous all-time high of $4,890, which remains over 12% above current levels. The heightened demand coincides with investors awaiting this week's Consumer Price Index (CPI) and Producer Price Index (PPI) reports, which are expected to influence the U.S. Federal Reserve's interest rate decision on September 17. Javier Rodriguez-Alarcón, chief investment officer at crypto trading and asset management platform XBTO, emphasized the importance of the CPI and PPI reports in shaping monetary policy expectations. He noted that higher-than-expected inflation data might dampen investor appetite and stall the ongoing crypto rally. "The rally fits within ETH's typical behavior and could pause or consolidate without fresh catalysts," he stated. Rodriguez-Alarcón also highlighted Ether's near-neutral Z-score of –0.06, indicating that despite the magnitude of the move, it remains within ETH's normal volatility range. He added that continued corporate treasury buying might enable Ether to test its prior all-time high. Meanwhile, market estimates from the CME Group's FedWatch tool indicate an 82% probability that the Federal Reserve will maintain interest rates during the upcoming Federal Open Market Committee meeting on September 17. Despite this, Ether is experiencing aggressive profit-taking from short-term holders, suggesting that this group may anticipate a price pullback. The developments come amid discussions on how Ethereum treasury companies could potentially ignite a 'DeFi Summer 2.0,' further adding to the dynamic landscape of cryptocurrency investments.

Transak raises $16 million to enhance its stablecoin payments network, led by IDG Capital and Tether. Plans for global market expansion unveiled. source: https://coincu.com/354290-transak-raises16m-stablecoin-expansion

The new whale’s investments come amid record-breaking Ether ETF inflows, which may help Ether recapture its old all-time high, market watchers told Cointelegraph. source: https://cointelegraph.com/news/new-crypto-whale-buys-1-3b-ether-us-inflation?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Ethereum (CRYPTO: ETH) has crossed the $4,400 mark, with traders eyeing a possible to run to all-time highs despite concerns about a short-term dip. source: https://www.benzinga.com/crypto/cryptocurrency/25/08/47058856/ethereum-cracks-4400-how-long-until-eth-hits-all-time-highs?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

U. S. Supercore CPI has jumped unexpectedly, raising the risk of prolonged high interest rates and sparking uncertainty for crypto markets. source: https://coinpaprika.com/news/supercore-cpi-spike-could-shake-interest-rate-outlook-and-crypto-markets

This guide shows how to turn ChatGPT into your warning system for altcoin pumps, using smart prompts, trend tracking and risk filters to stay ahead of the curve. source: https://cointelegraph.com/news/how-to-use-chatgpt-to-predict-altcoin-pumps-before-they-happen?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Ethereum flows into Binance skyrocketing source: https://u.today/binance-swallows-64000000-in-ethereum-eth-details

NYSE-listed payment solutions provider Shift4 Payments has joined forces with Jeff Bezos’ aerospace venture, Blue Origin, to let future astronauts […] The post Blue Origin Space Flights Now Available for Purchase With Crypto appeared first on Coindoo. source: https://coindoo.com/blue-origin-space-flights-now-available-for-purchase-with-crypto/

Chillguy (CHILLGUY) has dropped in value amidst plagiarism allegations involving its meme. Phillip Banks, the alleged creator, hinted at his authorship, while others claim the image may have been AI-manipulated. The debate continues: who truly created the meme?