[LIVE] Today Crypto News, August 29 – $15 Billion Bitcoin and Ethereum Options Expire, Binance Futures Goes Offline: Chainlink and Pyth Compete for Best Crypto to Buy Now
Why is crypto going down today? Friday, August 29, marks a critical day for the crypto markets as Binance Futures suddenly went offline while a massive $15 billion in Bitcoin and Ethereum options contracts are set to expire. The Bitcoin options market shows a put/call ratio of 0.79, with the “max pain” level at $116,000 and open interest heaviest at $140,000. Ethereum contracts show similar bullish momentum, with a put/call ratio of 0.76 and max pain at $3,800.
With traders already bracing for turbulence, the outage adds further uncertainty — and it has many asking what could be the best crypto to buy now.
BREAKING: BINANCE FUTURES OFFLINE IN ORDER TO DISABLE SELLING. UP ONLY RESUMES SHORTLY.
— VikingXBT (@VikingXBT)
Some traders are joking that since Binance Futures is temporarily offline, maybe the market can finally go up again. Well, that’s not what is happening — at least for now. But not all crypto are going down.
Two possible conterders as best crypto to buy now could be and Pyth Network (PYTH): both secured high-profile roles in bringing U.S. government economic data on-chain.
Chainlink has been outperforming many altcoins recently, fueled by strong fundamentals: new U.S. government and institutional adoption, growing use cases in real-world asset tokenization, and its increasing role as core blockchain infrastructure. These drivers suggest LINK could have more room to climb even as broader markets face turbulence.
Chainlink
Price
Market Cap
LINK
$15.85B
24h7d30d1yAll time
EXPLORE:
Chainlink and Pyth Network Gain Momentum with U.S. Government Backing: Best Crypto to Buy Now?
Both Chainlink and Pyth are rallying on groundbreaking partnerships with the U.S. Department of Commerce. For LINK the positive momentum is fueled by two major developments:
U.S. Department of Commerce Partnership. The DOC announced it will use Chainlink to bring vital macroeconomic data. This including GDP, the PCE inflation index, and consumption metrics — on-chain from the Bureau of Economic Analysis.
First Public Company LINK Treasury. Caliber, a NASDAQ-listed real estate asset manager, launched the first-ever corporate LINK treasury, allocating funds into Chainlink.
These catalysts reinforce Chainlink’s position as a key infrastructure layer for tokenized assets and global finance, giving investors fresh reasons to consider it the best crypto to buy now.
As for : PYTH skyrocketed 91% in 24 hours after being selected to distribute official GDP data across more than 100 blockchains. The token’s trading volume surged past $2.1 billion, at $1.2 billionmarket cap, as momentum indicators like MACD signaled a bullish divergence.
is extremely underpriced compare to and now that we 're having US GDP data on blockchains powered by , reprice commences and it's going to be televised. what if pyth at link market cap price…?
— sumptu◎us (@sumptuosol)
Pyth is set to publish five years’ worth of historical GDP data and expand into more macroeconomic indicators. Could PYTH really compete with LINK?
At the time of writing, Bitcoin trades near $110,300 and Ethereum around $4,390, while Chainlink’s momentum is holding its position. High volatility is expected.
Stay tuned to our real-time updates below.
PetroChina Explores Stablecoin-Based Cross-Border Settlement Amid Hong Kong Regulatory Shift
By Fatima
plans to study the feasibility of using stablecoins for cross-border settlement and payments, marking a major step toward financial innovation in the energy sector. The news comes as Hong Kong’s new stablecoin regulatory framework officially took effect on August 1, requiring issuers to obtain licenses and meet strict capital requirements.
According to Yahoo Finance, PetroChina’s CFO Wang Hua confirmed the initiative during the company’s half-year results briefing, noting that the firm is closely monitoring developments from the Hong Kong Monetary Authority. This move positions PetroChina as one of the first energy giants to explore digital asset-based settlement under Hong Kong’s new rules.
Industry analysts suggest stablecoins could lower costs, reduce FX risks, and increase efficiency in global energy trade.
Mantle Surpasses $4 Billion in Treasury Assets, Becomes Market Leader
By Fatima
Mantle has announced that its treasury has surpassed $4 billion in assets, making it the largest in the crypto market. Alongside this milestone, its involvement in the recent U.S. Department of Commerce and Chainlink integration, which aims to bring key U.S. government data on-chain.
(@sumptuosol) 
