Cosmos Labs has called on validators to halt Cosmos EVM-based networks due to an active security threat. Standard Chartered has become the first bank to distribute the regulated Hong Kong stablecoin HKDAP. Meanwhile, the Base network has launched tokenized Apple and NVIDIA shares from Coinbase.
Market dynamics: Bitcoin and altcoins
By the morning of August 25, Bitcoin (BTC) was consolidating near the $80,692 mark, showing a 4.65% gain over the day. Volatility remained in a wide range of $76,750–$81,000, indicating an active battle between bulls and bears for control of the $80,000 level. A confident rebound from local lows confirms buyer strength, but additional liquidity inflows will be needed to hold above $81,000.
The second-largest cryptocurrency by market cap, Ethereum (ETH), was trading at $2,508, up 2.47% over 24 hours. The trading range was $2,430–$2,530. Among top-25 altcoins, Monero (XMR) stood out with an 8.52% gain, Solana (SOL) rose 8.10%, and Cardano (ADA) gained 3.32%. Bitcoin Cash (BCH) increased by 2.88%.
In the top 100, Stacks (STX) was the growth leader, adding 18.17%. Aerodrome Finance (AERO) and Virtuals Protocol (VIRTUAL) also posted impressive results, up 16.19% and 15.92%, respectively. The day's laggard was the Aave (AAVE) token, losing 8.52%, followed by Ethena (ENA) with a 6.58% decline and Lighter (LIT) at 6.19%.
Institutional inflows and liquidations
Spot crypto ETFs in the U.S. recorded solid capital inflows across all major assets. Bitcoin funds attracted $337.56 million, Ethereum-based products brought in $115.57 million, Solana $33.49 million, XRP $13.82 million, Hyperliquid $5.74 million, Chainlink $2.68 million, and Dogecoin just $146,020. This is a clear signal of renewed institutional risk appetite.
Over the day, $646.93 million in positions were liquidated, affecting 95,896 traders. The main impact hit short positions — $457.28 million versus $189.65 million in longs, confirming a sharp upward reversal in sentiment. The largest liquidation order was recorded on Bitget for the BTCUSDT pair, totaling $103.54 million.
Overnight events: Cosmos EVM, Standard Chartered, and Base
Cosmos Labs reported an ongoing security incident in the Cosmos EVM module affecting users. Security and development teams recommended that validators of related networks halt operations until the issue is resolved. The nature of the vulnerability, the list of affected networks, and the scale of losses have not yet been disclosed — a detailed report will be published after the investigation is complete.
Standard Chartered has become the first bank to begin distributing the regulated Hong Kong stablecoin HKDAP from issuer Anchorpoint Financial. The token is offered to qualified institutional clients and partners. In the fourth quarter, the bank plans to launch subscription and settlement services for tokenized money market funds together with asset management companies, and is also testing HKDAP for intra-group settlements while exploring cross-border payment and treasury management scenarios.
The Base network has launched tokenized shares from Coinbase under the B20 standard. The tokens are backed by real securities at a 1:1 ratio, held with regulated custodians. Qualified users will be able to hold tokenized Apple and NVIDIA shares in non-custodial wallets and use them within the DeFi ecosystem. Asset management is handled through regulated broker and custodian Alpaca, opening opportunities for on-chain trading, lending, and other financial operations.
My take: Tokenization of real-world assets on Base is another step toward merging traditional finance and DeFi, but regulatory uncertainty remains the key risk. The Cosmos EVM incident reminds us that the security of cross-chain bridges and modules remains the ecosystem's Achilles' heel, and investors should be prepared for temporary network halts.