Crypto Daily｜Tom Lee Said ETH Is The Most Important Super Cycle Story; Polymarket Targets $10B Valuation Amid Plans for US Relaunch

Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Crypto News

Bitdeer reports 33% rise in self-mined bitcoins in August

Bitdeer Technologies (NASDAQ:BTDR) self-mined 375 bitcoins in August, an increase of ~33% from the past month due to higher average self-mining hashrate from energization of SEALMINERs.

Self-mining hashrate rose by 35% to 30.0 EH/s on continued deployment of SEALMINERs. "Our operational team continues to execute and we are well on our way to achieving our ambitious target of 40 EH/s of self-mining by the end of October 2025.” said Matt Kong, Chief Business Officer at Bitdeer.

Polymarket Targets $10B Valuation Amid Plans for US Relaunch

Blockchain prediction market Polymarket is preparing a return to the United States as it eyes a potential $10 billion valuation, according to a Friday report by Business Insider.

The company is reportedly in discussions to raise new capital that could more than triple its last known valuation of $1 billion in June. Polymarket allows users to trade outcomes of real-world events without relying on a centralized bookmaker.

Tom Lee: Ethereum is the most important super cycle story in the next 10-15 years

Tom Lee, Chairman of the Board of BitMine and co-founder of Fundstrat, stated that Ethereum will be one of the most important supercycle stories of the next ten to fifteen years. As a smart contract platform, Ethereum is censorship-resistant and resilient, and has remained 100% online since its inception.

He explained that when a company establishes a treasury business on Ethereum and holds a sufficient share (e.g., 5% of the supply), it triggers a "power law" effect: not only does it have a positive impact on the company itself, but it also enhances network security through staking and has the potential to drive the prosperity of the entire DeFi ecosystem. Such a company will become the "kingmaker" in the ecosystem.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Friday was $642.35 million. The total net asset value of Bitcoin spot ETFs is $153.18 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.62%.

The Bitcoin spot ETF with the highest net inflow on Sep 12 was Fidelity Wise Origin Bitcoin Fund, with a net inflow of $315.18 million. Following that was iShares Bitcoin Trust ETF , with a net inflow of $264.71 million.