Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrencymarket news
Here’s a quick recap of the crypto landscape for Friday (August 28) as of 10:00 a.m. UTC.
Bitcoin price update
Bitcoin (BTC) was priced at US$79,292.20, down by 1.1 percent over the past 24 hours.
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Bitcoin price chart
Chart via the Investing News Network
Bitcoin price performance, August 28, 2026.
Ether and altcoin price update
Bitcoin price performance, August 19, 2026.
- Ethereum (ETH) was priced at US$2,489.78, trading 1.7 percent lower over the last 24 hours.
- XRP (XRP) was priced at US$1.41, down 2.3 percent over the past 24 hours.
- Solana (SOL) was trading at US$105.75, 0.8 percent higher over the past 24 hours.
Today’s crypto news to know
3,283 US Banks form alliance to launch shared Blockchain network
Thirty-nine state banking associations representing 3,283 US banks formed the BankChain Alliance on August 25 to build an industry-owned blockchain network.
The participating banking associations hold approximately US$21.8 trillion in collective assets. The group aims to launch the shared network in 2027 to support tokenized deposits, stablecoins, smart payments, and automated settlement.
This infrastructure puts traditional banks closer to systems already associated with public payment networks like XRP Ledger and Stellar. The alliance clarified that while state associations represent these 3,283 banks, individual institutions have not yet committed to joining the network.
The BankChain Alliance is currently selecting a technology partner and has not revealed its final blockchain architecture.
XRP treasury firm Evernorth secures SEC approval for Nasdaq SPAC merger
Digital asset treasury firm Evernorth Holdings announced that the SEC declared its Form S-4 registration statement effective, clearing its path toward a public listing.
The SEC approval covers Evernorth’s proposed business combination with special purpose acquisition company Armada Acquisition Corp. II. The combined company plans to list on the Nasdaq under the ticker symbol XRPN upon closing the merger in late Q3 or early Q4.
Evernorth operates as a regulated vehicle that offers public market investors direct exposure to XRP. The company actively deploys capital into XRP-based infrastructure while executing treasury strategies to increase its XRP-per-share holdings.
“We plan to enter public markets as blockchain utility continues to grow, and we believe institutional finance will increasingly be built on-chain,” Evernorth Founder and CEO Asheesh Birla stated.
The S-4 filing registers up to 34,499,992 Class A common shares and 11,499,992 warrants issuable through the transaction.
Nearly US$6.5 billion in Bitcoin options to expire ahead of Fed speech
Deribit will settle 81,700 Bitcoin options worth US$6.44 billion at 08:00 UTC on Friday (August 28), representing nearly a fifth of the exchange’s total Bitcoin open interest.
The contract book splits between 44,639 calls and 37,061 puts, creating a bullish put-to-call ratio of 0.83. Deribit’s max pain level sits near US$70,000, placing the target US$9,000 to US$11,000 below Bitcoin’s spot price near US$79,000.
Heavy call open interest concentrates around the US$75,000 and US$80,000 strike prices, forcing option sellers to actively hedge their positions in actual Bitcoin as spot prices move.
The giant options settlement lands simultaneously with day two of the Jackson Hole Economic Policy Symposium, where new Federal Reserve Chair Kevin Warsh delivers his first chief keynote address.
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Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.