The crypto market met September 2 with a decline in major coins, large liquidations, and news of upcoming unlocks: in the next month, tokens worth more than $1.535 billion will enter the market, ARK Invest and Glassnode assessed the concentration of block control in Bitcoin and Ethereum, and Hyperliquid Strategies expanded its capital raising program to $2.5 billion.
- In the coming month, investors are expecting token unlocks totaling over $1.535 billion.
- ARK Invest and Glassnode concluded that only three participants reach the critical threshold of influence over block production in Bitcoin and Ethereum.
- Hyperliquid Strategies increased its stock issuance program to $2.5 billion and may allocate part of the funds to purchase HYPE.
Market Cap Leaders Move Into Negative Territory
As of 09:30 MSK, Bitcoin was trading around $77,443. Over the day, the price moved in a range from $76,400 to $79,200, with a final decline of 1.86%. For a market where investments often depend on sentiment, such a pullback became a signal for caution after previous inflows into funds.
Bitcoin fell to $77,443.
At the same time, Ethereum was priced at $2,415. In the last 24 hours, the coin lost 2.50%, with an intraday range of $2,380–$2,475.
Ethereum retreated to $2,415.
Movements among major assets looked as follows:
- Canton — minus 7.18%; the largest drop in the top 25.
- Solana — minus 4.03%.
- XRP — minus 3.27%.
- Zcash — minus 3.17%.
- Uniswap — plus 6.44%.
- Litecoin — plus 0.45%.
- Filecoin — plus 13.16%; the best result in the top 100.
- Kite — plus 13.09%.
- Pyth Network — plus 10.62%.
- Dash — minus 10.92%; the main outsider among the top 100.
- Official Trump — minus 6.27%.
Bitcoin ETF Outflows Recorded, Liquidations Exceed $339 Million
Spot Bitcoin ETFs broke their streak of inflows. Daily flows in crypto funds were as follows:
- Spot Bitcoin ETFs — outflow of $236.46 million.
- XRP funds — inflow of $14.38 million.
- Ethereum funds — inflow of $10.95 million.
- Solana funds — inflow of $10.19 million.
- Hyperliquid funds — inflow of $1.76 million.
$236.46 million was withdrawn from spot Bitcoin ETFs in a day.
The Fear and Greed Index fell to 63 points but remains in the greed zone. The day before, it was at 69 points, a week ago — 65 points. A month ago, the index was at 28 points, i.e., in the fear zone. Investor sentiment matters not only for cryptocurrencies but also for other risky areas, including artificial intelligence.
The Fear and Greed Index remained in the greed zone despite the decline.
In a day, 87,296 traders’ positions were liquidated for a total of $339.17 million. The main blow was to long positions: $272.95 million versus $66.22 million in shorts. This reflects the nature of the market movement, which was mostly downward throughout the day.
The largest single liquidation took place on Binance in the ETHUSDT pair and amounted to $11.99 million.
Daily liquidation volume reached $339.17 million.
Unlocks Worth $1.535 Billion May Increase Price Pressure
The market is expecting a major wave of token unlocks with a total value of over $1.535 billion in the coming month.
Large unlocks add supply to the market precisely when weak demand puts more pressure on prices and investor sentiment.
One-time unlocks of more than $10 million are expected for the following tokens:
- HYPE
- XPL
- ENA
- ZRO
- H
- CARDS
- ARB
Gradual monthly unlocks over $10 million are planned for these tokens:
- RAIN
- SOL
- CC
- TRUMP
- ZEC
- ASTER
- WLD
- MORPHO
- PUMP
- TAO
- AVAX
- NEAR
Such events increase supply and often become a factor putting pressure on price, especially if demand is weak at that time.
ARK Invest and Glassnode Assess Network Decentralization
ARK Invest and Glassnode presented a joint study on the degree of blockchain decentralization. According to their assessment, only three participants in Bitcoin and Ethereum reach the critical threshold of influence over block production. For Solana, the corresponding figure is 19 participants.
The fewer participants reach the critical threshold of influence over block production, the more acute the issue of decentralization and infrastructure resilience becomes for the network.
The authors of the study emphasize that this indicator cannot be directly considered real control over the network. The picture is influenced by mining pools, staking delegation, and validator infrastructure. Cryptography remains the foundation of blockchain security, but by itself does not eliminate the risks of infrastructure concentration.
By node geography, Bitcoin is the most evenly distributed. About 63% of its nodes operate via Tor. Ethereum is more dependent on cloud providers: about 20% of nodes are hosted on AWS. Solana’s infrastructure is mainly concentrated in data centers.
Hyperliquid Strategies Prepares More Capital for Possible HYPE Purchase
Hyperliquid Strategies, traded on Nasdaq under the ticker PURR, increased the volume of its ChEF equity financing program from $1 billion to $2.5 billion. Under this program, the company can issue new common shares in favor of Chardan Capital Markets as needed.
The raised funds are planned to be directed to general corporate purposes, including a possible purchase of HYPE. For investors, it is important that in this scheme, the common share (finance) serves as a capital raising tool, not a direct token sale.
Once sales under the program reach $1 billion, the issuance of shares below $12.02 each will be limited to 42,641,847 shares. This corresponds to 19.99% of the company’s shares at the time of the change. The restriction can be lifted only with shareholder approval or if Nasdaq rules do not require it.
If Hyperliquid Strategies does allocate part of the funds to HYPE, such a digital asset (accounting) will be linked to the company’s corporate balance sheet and may increase its valuation’s dependence on the token’s dynamics.
The main intrigue of the coming weeks is whether the crypto market will withstand the pressure of new unlocks and outflows from Bitcoin ETFs. So far, the data indicate caution among participants: major coins are declining, long positions are being actively liquidated, and interest in individual altcoins remains selective.
Quick Context: How the Crypto Market Works
The crypto market is a market for digital assets where users buy, sell, exchange, and store cryptocurrencies. It operates 24/7, with no weekends, and transactions take place through centralized exchanges, decentralized platforms, and wallets. Price is determined by supply and demand: market orders move quotes, and liquidity shows how easy it is to buy or sell an asset without a sharp price jump. Market capitalization is calculated as the coin price multiplied by the number of coins in circulation.
- Blockchain — a distributed database where transaction records are combined into blocks and confirmed by network participants.
- Mining — the process of confirming transactions and issuing new coins in networks where participants use computing power.
- Staking — a way to support the network by locking coins; unlike mining, it relies not on computing but on validator participation and delegation.
How People Earn and Which Assets Are Tracked
- Trading — buying and selling cryptocurrencies on short-term price movements.
- Long-term investments — buying an asset with the expectation of its value increasing over time.
- Mining — earning rewards for participating in network operations.
- Staking — earning income by locking coins and supporting the network.
- DeFi — using decentralized finance protocols for exchange, lending, and other operations.
- NFT — unique digital tokens, for example, for digital items or collectible assets.
- Airdrop — free distribution of tokens for activity or participation in a project.
The most tracked cryptocurrencies usually include Bitcoin, Ethereum, Solana, XRP, and other major assets. Prospects are often assessed by capitalization, liquidity, user activity, ecosystem development, investor interest, and technology resilience.
- Altcoins — all cryptocurrencies except Bitcoin; among them are Ethereum, Solana, XRP, and other projects.
- Stablecoins — tokens whose price is usually pegged to a fiat currency or other asset.
- NFT — unique tokens that differ from each other and can be used for digital collections, in-game items, and other assets.
Security, Risks, and Data Sources
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- To buy cryptocurrency, choose reliable platforms, enable two-factor authentication, and check addresses before transferring.
- For storage, use hot wallets for quick operations and cold wallets for long-term storage; keep backup seed phrases separately and do not share them with third parties.
- Rates and charts are conveniently tracked via CoinMarketCap, CoinGecko, and TradingView, and news via industry media and official project channels.
- Main market risks are high volatility, technical failures, regulatory changes, and liquidity problems.
- Typical scam schemes include phishing, scam projects, exchange hacks, and Ponzi schemes.
- Risks can be reduced by diversification, verifying sources, being cautious with promises of guaranteed returns, and keeping large sums outside exchange accounts.
