Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt.
GM!
Today’s top news:
Crypto majors slightly green with BTC leading +1% at $64.2k
Bond yields hit multi-decade high, pausing stock rally
ETH Foundation researchers prioritize privacy for Hegota upgrade
Robinhood rolls out agentic trading for crypto (for select users)
Ansem introduces new curated launchpad and z500 index
📈 PUMP Prints First Golden Cross as Revenue Hits a Seven-Month High
Pump.fun’s PUMP token has had a rough 10-month stretch after hitting $8B back in September 2025. But that rough stretch appears to be over.
PUMP’s 50-day EMA is crossing above its 200-day EMA for the first time since the token launched in mid-2025, what technical analysts call the “golden cross.” The token bottomed at $0.001491 in July and touched $0.003 intraday Monday before settling near $0.002733.
The token is pumping for a reason—the fundamentals are improving. DefiLlama puts Pump.fun at $11.52 million in seven-day revenue, fourth among every protocol in crypto behind only Tether, Circle, and Canton, and ahead of Polymarket, GMGN, Tron, and Axiom Pro. Its weekly revenue was 2x that of Hyperliquid, which trades at $59B FDV (over 20x PUMP). Annualized revenue now runs at $458 million against a $1.09 billion market cap. That revenue is also at its highest level since February.
Revenue matters for Pump because of the team’s buybacks. Half of every dollar of that revenue is locked into buyback and burn by smart contract, which sent $5.33 million into PUMP purchases last week alone and has now offset 15.9% of total supply. Pump’s own numbers put fees for August 10 to 16 at $10.74 million, up 7% week over week and the best week since late January, with Tuesday’s $1.73 million the biggest single revenue day since January 30. Overall the team has now bought and burned $429M of its own token (28.58% of the supply).
And the team has been active with updates. Pump launched Callout Rewards on August 13, paying users daily based on the volume their token callouts drive. Then, yesterday they dropped app trading fees to 0% on Solana and 0.1% crosschain. They’re effectively using that revenue lead to undercut Axiom, GMGN, and Fomo on price while paying users to bring flow. And It’s working, with weekly app traders up 23% and a new all-time high in daily active traders last Thursday.
Overall, it was unclear through this bear market if memecoins would still be as popular into the next cycle. Given the mania we’ve seen on Robinhood Chain and elsewhere over the past month, it seems that question can be put aside. Memecoins are a part of crypto at this point. And Pump is positioned as well as anyone to win the memecoin game in bull market. Perhaps one is around the corner…
🌎 Macro Crypto and Markets
Crypto majors are slightly green with BTC leading; BTC +1% at $64.2k; ETH even at $1,900; SOL +1% at $76; HYPE even at $59.50
Top alt movers include VVV (+19%), POL (+4%) and SKY (+4%)
Oil +3% at $84.9; Gold -0.1% at $4,450
Stock futures are red after bond yields hit multi-decade high; DOW even, Nasdaq -1%
Ethereum Foundation researchers pushed privacy to the front of the 2027 Hegotá upgrade, prioritizing Frame Transactions and FOCIL so privacy pools can pay their own fees without intermediaries
The SEC halted its crypto fundraising framework after Wall Street trade group SIFMA raised the prospect of legal action and the White House asked the agency to stand down
The Treasury proposed GENIUS Act rules requiring stablecoin issuers to hold a federal or state license by January 18, 2027, and barring platforms from selling unapproved stablecoins to US customers by July 18, 2028.
Kraken parent Payward joined Anthropic’s Project Glasswing, becoming the first crypto company with access to Claude Mythos 5 to scan its systems for vulnerabilities
Monad Foundation closed a $60 million buyback program that offered to purchase locked MON from early investors at a discount, saying nearly all holders approached declined to participate
South Korea's media regulator ordered ISPs to block Polymarket, ruling that its winner-take-all markets on politics, sports, and weather amount to illegal gambling under the Criminal Act
The Compound Foundation launched a $52M development program, the largest in its history, alongside a new leadership team to push institutional credit onchain
Corporate Treasuries & ETFs
The Bitcoin ETFs saw $137M in net inflows on Monday; the ETH ETFs saw $5M in inflows
Strategy paused its Bitcoin selling after three straight weeks, raising $333.7 million from MSTR share sales to buy STRC ($132M) and boost cash reserves to $4.8B
Tom Lee’s Bitmine added another $19 million in ETH, lifting holdings to 5.82 million tokens, 4.8% of circulating supply
Jane Street disclosed over $1B in Bitcoin ETF holdings as of June 30
Meme Coin Tracker
Meme leaders were mostly flat; DOGE -1%, SHIB even, PEPE -1%, PENGU +1%, TRUMP even, BONK -2%
Robinhood chain saw more big pullbacks across the board as Stonkbroker fell 30% and PONS -15%; Motion (+40%) and Bull (+20%) were top movers
Solana leaders included EYE (+150x to $5M), Z500 (+30x) and Qenis (+65%); Ansem briefly wicked to $320M before retracing to $265M
💰 Token, Airdrop & Protocol Tracker
Robinhood rolled out agentic trading for crypto for select users
Ansem launched ansem.io and its z500 index, where teams airdrop token supply to $ANSEM holders and buy and burn $ANSEM to climb a public leaderboard, built on top of Pump.fun as a curation layer rather than a rival launchpad
Neynar is seeking a new team to take over operations for Farcaster and its launchpad Clanker, less than 7 months after its acquisition
🚚 What is happening in NFTs?
