Crypto Market Overview: August 29, 2025

The cryptocurrency market has been buzzing with significant developments and expert insights as of August 29, 2025. Here’s a comprehensive look at the latest financial news concerning crypto currencies.

Crypto Cycle Extension Predicted

Global Macro Investor CEO Raoul Pal has suggested that the traditional four-year crypto cycle might extend into early 2026. This prediction comes amid discussions about a potential bull run, indicating a prolonged period of growth for cryptocurrencies. The close price of the crypto currency in question stood at $0.00173886 as of August 27, 2025, with a 52-week high of $0.00616233 and a low of $0.0000412644.

Hong Kong’s Crypto Expansion

Changpeng Zhao, the founder of Binance, has emphasized the need for Hong Kong to expand its crypto offerings to compete globally. Currently limited to four tokens, Zhao argues that increasing the number of approved cryptocurrencies could enhance trading opportunities, liquidity, and innovation within the city’s crypto ecosystem. This expansion is seen as crucial for Hong Kong to rival major crypto hubs like the US and UAE.

Bitget’s Rise in Global Exchanges

Bitget has made a significant leap, ranking among the top four global exchanges for derivatives activity. This surge is attributed to its impressive $11.5 trillion in trades, highlighting its growing influence in the crypto market.

Altcoin Season and Market Dynamics

The altcoin market is experiencing a surge, with notable gains in tokens like Pyth, Pump.fun, and Four. Pyth has benefited from increased oracle use, while Pump.fun has seen demand for rapid token creation. Four has gained traction through its GameFi offerings and launchpad on the BNB Chain.

Ethereum Holdings Increase

A prominent Ethereum investor, known for selling HYPE and subsequently buying Ethereum, has increased their holdings to 66,700 ETH, valued at approximately $286 million. This move comes amid market fluctuations, with the current liquidation price set at $4,214.

IREN’s Record Q4 Results

IREN, formerly Iris Energy, reported record fiscal 2025 results with $501 million in revenue, returning to profitability. This performance has led to a 312% surge in its stock over four months, driven by its success in Bitcoin mining and AI expansion.

Hong Kong’s Potential as a Crypto Hub

In an exclusive interview, CZ reiterated that Hong Kong has the potential to become a leading virtual asset center, comparable to the US and UAE. However, he stressed the importance of swift regulatory action to realize this potential.

Altcoin Momentum and Outlook

A prominent crypto analyst has highlighted the continued momentum of an altcoin that has surged over 700% in the past four months. The analyst also provided updates on the outlook for Bitcoin and Fartcoin, indicating ongoing interest and speculation in the altcoin market.

These developments reflect a dynamic and evolving crypto landscape, with significant opportunities and challenges ahead.