Ethereum News Today: BlockDAG’s Referral Surge Sheds Light on Crypto’s Shifting Power Dynamics

BlockDAG’s Referral Rewards Steal Attention From XRP Breakout and Ethereum Concerns

The cryptocurrency market continues to witness dynamic shifts, with both XRP and Ethereum drawing significant attention alongside the rising appeal of BlockDAG’s referral rewards. XRP, Ripple’s native token, recently saw a notable surge in investor interest following a landmark court decision dismissing the SEC’s case against Ripple Labs. Seven major asset managers, including Canopy, CoinShares, Franklin Templeton, and 21Shares, submitted updated XRP ETF filings, signaling growing institutional confidence. Analysts suggest the likelihood of approval is as high as 95%, with decisions expected in late October. JPMorgan estimates that these funds could attract up to $8 billion in inflows within their first year of trading, reinforcing the growing mainstream appeal of XRP as an investment vehicle [1].

XRP’s price performance has mirrored this optimism, with the token trading near $3.05, up over 6% in the last 24 hours. The rally has been fueled in part by broader market conditions, including remarks from Federal Reserve Chair Jerome Powell, who hinted at a more dovish monetary policy ahead. Over the past two months, XRP has surged roughly 50%, reaching nearly $3. If an investor had allocated $500 to XRP five years ago, it would now be worth more than $5,350, underscoring the token’s long-term growth potential [1].

However, the path to sustained appreciation for XRP is not without challenges. Some analysts caution that while XRP’s underlying blockchain technology is being adopted in the financial industry, the token itself may not benefit directly. This is particularly true with the rising adoption of stablecoins, which offer similar functionality for cross-border transactions without relying on XRP. Ripple’s strategic pivot toward its own stablecoin further complicates the narrative for XRP’s price action [1].

Ethereum, meanwhile, has also reached new heights. On Friday, ETH surpassed its previous all-time high of $4,878.26, hitting a record of $4,885. This surge has been driven by growing institutional adoption, with corporate treasuries accumulating over $29.75 billion worth of ETH. Additionally, record inflows into spot Ethereum ETFs have added momentum. The SEC approved these funds in July 2024, and they now hold over $12 billion in assets under management. Some analysts predict ETH could eventually surpass $10,000, particularly as stablecoin adoption and DeFi innovation continue to expand [4].

Despite Ethereum’s rally, the market remains volatile. In the last 24 hours, Ethereum liquidations reached $388 million, the highest among all crypto assets, with over 183,000 traders affected. The largest single loss was a $10 million ETH swap on OKX, highlighting the risks associated with leveraged positions. Analysts suggest that such liquidations could reset the market for a more stable trajectory, but caution remains about the potential for sharp corrections [6].

Amid these developments, BlockDAG (BDAG) has emerged as a standout in the Layer 1 space, with its presale nearing $380 million raised. The project has attracted over 2.5 million users through its mobile mining app, 19,350 ASIC miners sold, and a rapidly growing developer community. BlockDAG’s referral program has been a key driver of engagement, drawing in both retail and institutional investors. The project’s technical foundation combines Proof-of-Work with DAG scalability, enabling up to 10 blocks per second. With EVM compatibility, it also allows Ethereum-based dApps to migrate seamlessly, further enhancing its appeal [3].

As the market continues to evolve, the interplay between XRP’s institutional adoption, Ethereum’s technical advancements, and BlockDAG’s aggressive growth strategy will likely shape investor sentiment in the coming months. Whether these trends lead to sustained price gains or market corrections remains to be seen, but the data clearly reflects a shifting landscape in the cryptocurrency space.

Source:

[1] If You'd Invested $500 in Cryptocurrency XRP 5 Years Ago (https://www.fool.com/investing/2025/08/21/if-youd-invested-500-in-the-cryptocurrency-xrp-5-y/)

[2] When Will Ripple's XRP Hit a New All-Time High? The 4 AI Answers Surprised Us (https://cryptopotato.com/when-will-ripples-xrp-hit-a-new-all-time-high-the-4-ai-answers-surprised-us/)

[3] BlockDAG Heads Toward $600M Presale (https://crypto-economy.com/blockdag-approaches-600m-presale-goal-can-it-become-the-years-breakout-crypto/)

[4] Ethereum Hits New All-time High On Fed Rate Cut Signal (https://cointelegraph.com/news/eth-hits-new-highs-as-fed-turns-dovish-ether-etf-inflows-resume)

[5] Ethereum Hits Fresh All-Time High Amid Wider Market Rally (https://www.theblock.co/post/366657/shell-dnp-ethereum-hits-new-all-time-high-price-as-eth-crosses-4900-for-the-first-time-ever)

[6] ETH Price Prediction: Traders Target $10K ETH Amid $400M Liquidations (https://www.coindesk.com/markets/2025/08/23/ethereum-bets-see-unusually-high-usd400m-liquidations-as-some-now-target-usd10k-eth)