It’s been a whirlwind week for the cryptocurrency world, as a flurry of major developments, market recoveries, and headline-grabbing incidents have kept investors and observers on their toes. From the resurgence of memecoins to high-profile security breaches and the expansion of token utilities, the landscape is shifting—sometimes with a bang, sometimes with a whimper.
On September 3, 2025, Google search interest in memecoins—those cheeky, internet-inspired cryptocurrencies like Dogecoin and BONK—rebounded to 57 points on a 100-point scale, according to ForkLog. This marks a notable recovery after months of subdued curiosity, though it remains well below the fever pitch of 100 points seen in January during the launch of the TRUMP token. The current numbers suggest that while the mania has cooled, a more stable and potentially sustainable interest is taking root.
Yet, the mood on crypto Twitter tells a different story. Influencers and opinion leaders, who once fanned the flames of memecoin speculation, have not returned with the same gusto. The Block’s Brandon Key and Ivan Wu observed that this more muted reaction on social media could actually benefit the market. As experts have warned, the wild speculative peak earlier this year led to a series of harsh downturns and failed projects, serving as a cautionary tale for those chasing quick gains. Now, with the infrastructure around memecoins becoming more robust—thanks to new launchpads and trading tools—the sector appears better equipped to weather the inevitable ups and downs.
And what about the numbers? The memecoin sector’s total market capitalization now stands at a hefty $71.62 billion, with Dogecoin leading the pack at $32.46 billion. Notably, institutional interest is growing. In February, Neptune Digital Assets added Dogecoin to its investment strategy, while Dogecoin Cash Inc. pivoted to form Dogecoin Treasury Inc., focusing on developing Dogecoin-related infrastructure. In July, Bit Origin announced a whopping $500 million investment in Dogecoin mining infrastructure, and just this September, House of Doge Inc. revealed a $175 million plan to create an official “funny coin” reserve for DOGE. Even publicly traded companies are getting in on the act—Nasdaq-listed Safety Shot became the first to add BONK to its reserves, holding $25 million worth after a successful funding round.
The memecoin buzz reached the political stage, too. California Governor Gavin Newsom, known for his sharp wit, joked on a podcast on September 1 about launching his own memecoin for his next campaign, claiming it would outperform the "Trump corruption coin." While Newsom’s comments were made in jest, the reference underscores just how mainstream the topic has become.
Meanwhile, the broader crypto market has seen its own share of drama and innovation. On September 3, Bitget, a major crypto exchange, announced that its BGB token would become the native gas token for the Morph Layer-2 network. This strategic partnership is designed to expand BGB’s utility across networks and on-chain applications. As part of the deal, Bitget transferred its entire 440 million BGB holdings to the Morph Foundation. Half of those tokens were burned in a single transaction, while the rest will be unlocked monthly as liquidity incentives. The Morph Foundation has ambitious plans to reduce BGB’s total supply from 1.1 billion to just 100 million over the long term. The market responded positively—BGB’s price jumped by 7%, from $4.76 to $5.09, according to CoinGecko.
Security, as always, remains a pressing concern in the crypto world. The BNB Chain-based lending protocol Venus resumed all operations after being exploited for approximately $27 million. The Venus team confirmed that the lost funds had been recovered and that checks were completed to prevent further breaches. Despite the scare, Venus’ native XVS token saw only a modest uptick, rising 0.9% from $6.10 to $6.16. On the other hand, Ethereum-based Bunni DEX was not so lucky. After an $8.4 million exploit targeting its main smart contract system, BunniHub, the platform was forced to pause all smart contracts. The attack drained over $8 million worth of stablecoins, and the BUNNI governance token plummeted by 38.4%, falling from $0.011 to $0.007.
In more positive news, the Bitcoin ecosystem took a leap forward with the official deployment of the BRC 2.0 upgrade. This update allows EVM functionality to be implemented directly into the BRC-20 indexer, enabling developers to build applications without relying on bridges or middleware. On launch day, BRC-20 transactions on the Bitcoin network spiked to 168,000, a testament to the community’s enthusiasm for new programmability and compatibility features.
Trading activity, too, has surged. In August 2025, crypto exchange volumes reached a yearly high of $1.86 trillion, surpassing July’s $1.77 trillion, while DEX volume hit $368 billion. This uptick suggests renewed confidence and participation in the market, perhaps fueled by the recent technological upgrades and the relative stabilization of major tokens.
But not all headlines were celebratory. A Binance Smart Chain user suffered a $13.5 million loss in a phishing scam, with security firm ZeroShadow pointing to North Korean state hackers as the likely culprits. Meanwhile, a fresh investigation by crypto sleuth ZachXBT revealed that more than 200 influencers accepted paid promotions for crypto projects, with only a handful disclosing their posts as sponsored content. And in another blow to user security, hackers exploited a classic EIP-7702 vulnerability to drain World Liberty Financial (WLFI) token holders after private keys were leaked.
Elsewhere in the industry, Ethereum’s Fusaka hard fork is slated for early November, following the Pectra upgrade in May. Linea, an ETH Layer-2 solution backed by Consensys, has released its official airdrop checker, with 750,000 wallets eligible for the upcoming LINEA token distribution starting September 10. On the corporate front, Michael Saylor’s Strategy (MSTR), the largest Bitcoin treasury firm, has qualified for potential inclusion in the S&P 500 index after its latest earnings report, with a decision expected by September 19. Meanwhile, Metaplanet, another Bitcoin treasury firm, is facing financial challenges, as its shareholders approved an $884 million overseas stock issuance following a steep 54% drop in its share price since mid-June.
With so much happening at once, it’s clear that the crypto sector is in a state of dynamic flux. Whether it’s the cautious return of memecoin mania, the expansion of token utilities like BGB, or the sobering reminders of security risks, the industry continues to evolve—sometimes unpredictably, but always with a sense of possibility just around the corner.
