Crypto markets moved higher over the past 24 hours, led by sharp gains in ENA and TRUMP, while Solana outperformed other major high-turnover assets. ENA and TRUMP each rose 26%, according to the supplied market snapshot, as SOL added 6.87%. Bitcoin gained 2.51% and Ethereum rose 0.75%, leaving the rally concentrated more heavily in selected altcoins than in the two largest cryptocurrencies.
Among other large, actively traded tokens, XRP climbed 3.17%, SUI gained 4.65%, Dogecoin advanced 2.77%, and BNB added 1.51%. ZEC rose 0.86%. The performance gap between SOL and BTC suggested that traders were willing to move further out on the risk curve, though the available data covered only a single 24-hour period and did not establish a sustained trend.
The strongest moves extended beyond the largest tokens. MOVE rose 16.8%, CHIP gained 13.66%, xMSTR advanced 13.3%, and Jupiter’s JUP token added 11.38%, according to the separate movers list. MERL, LIT and xOKTA also posted gains of roughly 10% or more.
Solana-linked activity stays in focus
The move in SOL coincided with continued attention on Solana-based token activity. The supplied on-chain activity tracker listed fone on Solana, while microduck and AGI were listed on Robinhood Chain. Tokens called “我的女友景甜” and Froggie appeared on BSC.
Such activity can produce rapid gains in small tokens, particularly where liquidity is limited and attention is driven by social-media momentum rather than established use cases. The data does not indicate whether the listed tokens have undergone smart-contract reviews, have concentrated ownership, or maintain deep enough liquidity for large trades.
DeFi Development also reported that it resumed purchasing SOL, adding 19,000 SOL for about $1.86 million at an average price of $98.14. The company said it held about 2.33 million SOL after the purchase, valued at roughly $182 million at current prices. The acquisition adds to a growing group of corporate strategies built around accumulating tokens directly, although the disclosed purchase price was below the market levels implied by the broader 24-hour snapshot.
Labor figures offer limited macro support
The U.S. labor market data released for the week ending Aug. 22 showed 203,000 initial jobless claims, below the 208,000 consensus expectation. The prior week’s reading was revised up to 207,000 from 206,000, while the four-week average stood at 205,500, according to the U.S. weekly claims release.
Continuing claims for the week ending Aug. 15 totaled 1.778 million, below the 1.79 million expectation. The prior figure was revised to 1.796 million from 1.799 million.
The figures point to a labor market with relatively low layoffs, but they do not by themselves settle the outlook for inflation or interest rates. Austan Goolsbee, president of the Federal Reserve Bank of Chicago, said his biggest near-term concern was inflation failing to come under control. He described the labor market as unusually characterized by “low hiring, low layoffs,” while adding that three months of inflation data “doesn’t look too bad.”
That mix gives risk assets some support without offering a clear signal that monetary conditions will loosen quickly. Lower-than-expected jobless claims can reinforce confidence in economic activity, but they can also reduce pressure on the Federal Reserve to cut rates if inflation remains above its target.
UK payment plans bring stablecoins into policy debate
The UK government is planning to give the Bank of England additional responsibilities related to payment innovation, including stablecoins, while retaining its financial-stability mandate. The proposal places stablecoin oversight more directly alongside the country’s established payments and banking framework.
The practical effect would depend on the rules that follow, including how issuers must manage reserve assets, redemption rights and operational risks. Stablecoin policy has become a central issue for financial authorities because tokenized payment instruments can move quickly across platforms while relying on traditional banking and custody arrangements underneath.
In the United States, RQD Clearing said it raised $74 million in a financing round led by Bain Capital Tech Opportunities, with ABN AMRO Clearing Bank and Nyca Partners participating. RQD said it would use the funding to expand across North America, Asia and the Middle East, and to develop infrastructure for digital-asset custody and asset tokenization.
The financing reflects continued spending on the less visible parts of digital-asset markets: clearing, custody, settlement and asset administration. These services are less exposed to daily token-price swings than meme-coin trading, though their business prospects depend heavily on regulatory approvals and institutional demand.
Fixed-rate defi and sports prediction markets add infrastructure updates
TermMax, a fixed-rate lending protocol operated by Term Structure Labs, disclosed a strategic investment from YZi Labs. The size of the investment was not announced. TermMax said its cumulative financing had exceeded $8 million and described its model as using FT, XT and GT tokens to structure fixed-rate loans with physical settlement.
Separately, Polymarket expanded its sports-data partnership with Sportradar. The company said the agreement added official fast data and streaming video covering more than 20 sports associations, giving sports-related prediction markets access to real-time data feeds.
Lido also revised fees for its EarnETH Vault. The project said the previous 1% assets-under-management fee plus a 10% performance fee would be replaced by a structure capped at 0.5% of assets under management and a 20% performance fee. At launch, Lido said the fees would begin at 0.2% and 15%, respectively.
The day’s gains arrived alongside active infrastructure investment and regulatory work, but the evidence does not support treating one strong trading session as confirmation of an easy, broad-based risk-asset rally. Inflation data, Federal Reserve policy, proposed semiconductor tariffs and liquidity conditions remain capable of changing the market’s direction quickly.
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