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Wayex Weekly Wrap
It’s been a big week on the Wayex platform, with some standout gainers, dramatic dips, and fresh headlines shaping the market. Bitcoin and Ethereum have held steady despite ETF outflows and macro noise, while OM has made an unexpected comeback.
On the feature front, we’ve just launched AutoBuy, making it easier to stick to your Dollar Cost Averaging strategy without the need to log in every time. Set your allocations once, and your crypto buys will run quietly in the background.
Ready to dissect the market this week, let’s dive in.
Top Gainers & Losers of the Week on the Wayex Platform
Have you checked out AutoBuy yet?
Last week, we were super pumped to launch AutoBuy, our new feature that offers our customers the ability to set and forget their crypto buys.
At Wayex, we know many of our users follow the Dollar Cost Averaging (DCA) strategy. It's a simple approach, which essentially means that you are investing the same amount regularly to reduce the impact of market swings and avoid timing the market.
We created AutoBuy to make DCA even easier for our customers. No more manual buys or missed opportunities. All you need to do is set and forget with Wayex. For more information on how to set it up, just follow this link! All you need to do is set it up once with recurring payments from your bank. It just takes 5 simple steps.
It’s that easy. Set it up once and let your strategy run in the background. We’re proud to bring this feature to you and look forward to your feedback.
Mantra OM making a comeback?
Mitrade, recently spotlighted what can only be described as a dramatic comeback for the OM token. The Manta OM is part of Mantra’s Real‑World Asset (RWA) ecosystem. After months of scandal and uncertainty, OM has surged by 46%, hinting at a possible turning point despite ongoing market volatility.
This week’s breakout star is certainly a rise from the ashes story for the ages. In April, OM was at the centre of a major coin price crashing 90% in minutes on April 13. The token fell from around $6.32 to just $0.49. The collapse wasn’t entirely out of the blue, according to CCN.com. In April, it cited red flags such as false claims of investment by FTX (which the now-defunct exchange denied) to serious questions about Mantra’s DAO structure and alleged ties to an online gambling platform.
What intensified the fallout was the timing and volume of token movements. Just before the crash, 17 wallets moved $227 million worth of OM to exchanges, raising eyebrows across the industry. Then, as $71 million in leveraged OM positions were liquidated on Bybit. These transactions during low-liquidity hours, the sell-off accelerated, compounding the token’s rapid collapse.
In April, Mantra CEO and Founder, JP Mullin, discussed the situation in his own words and vowed that OM coin would come back. And a comeback we are certainly seeing in their coin price.
Hong Kong stablecoins, we are in week 0
Hong Kong’s stablecoin ordinance came into effect on August 1st 2025. Hong Kong is making a big bet that regulation is the key to becoming a global leader in digital assets. Hong Kong is uniquely placed due to its unique currency pegging system and wants to become a hub for Web3 development in Asia and the world. The irony of this moment in Hong Kong is not lost on Henri Arslanian, co-founder of Nine Blocks Capital and adjunct professor at The University of Hong Kong, who was quoted in the article. In the Tatler Asia article, he noted that the most popular stablecoin in the world, Tether, originated in Hong Kong. Henri Arslanian ponders this development and goes on to say that:
“It’s taken ten years for stablecoins to evolve from scrappy start-up experiments into assets now being embraced by central banks. It’s like watching a rebellious teen grow into a responsible adult, and now, it’s finally coming home.”
The new ordinance was approved in May and went live on August 1 2025, so we are officially in Week 0 of the new regulatory regime. But we may need to wait and see what the market says and what moves they will be making. But certainly, Hong Kong is in the race to become the central crypto hub in the world.
Japanese regulators are thinking, and banks are moving
According to CryptoNews, SBI Holdings is shaking up Japan’s investment space by planning two bold new ETFs. SBI Holdings has 20.56 AUD billion in market capitalisation and is Japan’s largest bank. So this is big, big, big news (did we mention big?) news. SBI Holdings, with its application, is looking to trade Bitcoin with XRP and Bitcoin with Gold.
If the proposal is approved by the Japanese regulator, these ETFs could be the first of their kind in Japan. In June, it was announced that the Financial Services Authority (FSA), the Japanese financial services regulator, was considering a new approach to crypto assets. Currently, crypto assets are considered “payment methods”. The FSA are considering a change in classification for crypto assets, which would classify them as financial instruments.
If the SBI proposal is approved, it will signal a BIG shift in how Japan handles crypto assets.
Crypto season in South Korea?
South Korean banks are fighting the race to be ready for “Crypto Season”, according to 99bitcoin.com. South Korea's “crypto season” is on like Donkey Kong, according to banking insiders. Banks are falling all over themselves to create digital asset divisions to handle the anticipated regulatory changes foreshadowed by their new president. Bank of Korea, Woori Bank, KB Koomin Bank and KEB Hana are just some of the major banking players who have quietly made moves, looking like they are preparing for the dawn of a new age in crypto in South Korea.
SEC is talking about staking, they wish they were on our telegram
If you are in our telegram channel, you’ll know that our quiz question of the week involves Staking and some truly questionable puns about Buffy the Vampire Slayer. But it’s staking season with the SEC. Cryptonews reported the SEC’s guidance, which confirms liquid staking is no longer considered a security, removing a key regulatory uncertainty. This SEC guidance is the continuation of the SEC’s commitment to providing clarity for the crypto industry. In simple terms, Yahoo Finance notes that the SEC has officially confirmed that major staking platforms like Lido and Jito, built on Ethereum and Solana, will not be treated as securities under US law. The guidance means their staking services and the tokens they issue, like stETH, mSOL, and jitoSOL, are no longer treated as securities by the SEC.
But not everyone is happy with former SEC Commissioner, Amanda Fischer, comparing it to the Lehrman Brothers, which famously collapsed in spectacular fashion in 2008.
The current SEC and former SECs are fighting.
Treasury Outflows ………….. Ok?
Crypto markets have rebounded, showing strength despite ETF outflows and surprising U.S. jobs data, which spooked U.S.-based retail and institutional investors alike. According to The Defiant, spot Bitcoin ETFs saw significant movement on Friday, 1 Aug (US time), with over $812 million USD in outflows making the second-largest single-day exit since their January 2024 debut. Meanwhile, Ethereum ETFs recorded a more modest $152 million USD in outflows, ending an impressive 20-day streak of continuous inflows that had previously set daily and monthly records, according to SoSoValue.
Bitcoin and Ethereum didn’t stay down for long. Despite some short-term macro headwinds, many traders are brushing them off and focusing on the bigger picture. The Federal Reserve's next meeting in September, with many analysts predicting a rate cut, which brings more retail investment back into defi and traditional financial markets. According to Polymarket data as of August 1, there is now a 70% chance the Fed will cut rates by 25 basis points at its September 17 meeting, a significant jump from just days prior.
What’s making us laugh this week?
Founder’s Corner
What a week in crypto. If you’ve made it to this part of the newsletter, well done. There’s a lot going on.
First off, remember that AutoBuy is live!We built it because our users kept telling us: “I want to DCA, but life gets busy.” Now you can set and forget your crypto buys in just a few steps.
Elsewhere, Hong Kong’s stablecoin regulation is a huge moment for Asia. From Wild West to regulatory blueprint in just a few years. The irony that Tether was born there isn’t lost on anyone. I am hoping to see some good progression on this front as I think that the more that happens in Asia, the more will happen for us here in Australia.
Mantra’s OM comeback feels like classic crypto drama, a crash, scandal, and now… maybe a redemption arc? We have seen many projects try and bounce back from dramatic drops in their token, I think OM has a way to go.
With the market showing a bit of correction this week, I am interested to see what the month of August has in store.
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Until next time,
The Wayex Team
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