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[LIVE] Crypto News Today: Latest Updates for August 05, 2025 –Crypto Market Rebounds as Layer 2 Tokens Lead Surge, ETH Briefly Breaks Above $3,700

2025-08-05 04:23:50

Main Idea

The crypto market experienced broad gains on August 05, 2025, led by Layer 2 tokens, with Ethereum briefly surpassing $3,700 and Bitcoin hovering near $114,000. Meanwhile, Ethereum's PoS network exit queue shrank for the third consecutive day, with $1.77B in ETH awaiting withdrawal.

Key Points

1. Layer 2 tokens surged by 6.15%, with Mantle (MNT) up 16.32%, and Zora (ZORA) and Optimism (OP) rising over 5%.

2. Ethereum (ETH) climbed 4.48%, briefly breaking above $3,700, while Bitcoin (BTC) edged up 0.29% to near $114,000.

3. Ethereum's PoS network exit queue decreased for the third straight day, with 486,246 ETH (~$1.77B) awaiting withdrawal and an estimated 8.5-day wait time.

4. 121,103 ETH (~$442M) is queued to enter the Ethereum network, indicating continued activity despite withdrawals.

Description

The crypto market saw broad gains over the past 24 hours, led by Layer 2 tokens which jumped 6.15%. Mantle (MNT) soared 16.32%, while Zora (ZORA) and Optimism (OP) rose over 5%. On the other hand, Ethereum (ETH) climbed 4.48%, briefly breaching the $3,700 mark, and Bitcoin (BTC) edged up 0.29% to hover near $114,000. Despite the overall uptrend, sectors like NFTs and SocialFi posted minor losses today. But what else is happening in crypto news today? Follow our up-to-date live coverage below. Th...

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Industry Talk Bitcoin Ethereum Market
📱 Full Version
$ETH
$3666.36
+2.95%
$OP
$0.6838
+2.73%
$BTC
$114692.1
+0.22%

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