Morning Minute is a daily newsletter authored by Tyler Warner. The views and analysis presented are his own and do not necessarily reflect those of Decrypt.
Good morning!
Here are today’s key highlights:
- Major cryptocurrencies are showing slight gains; BTC at $65,000
- The vote on the Clarity Act is postponed until after the August recess, with a 13% likelihood of passing
- Bitcoin ETFs have seen an additional $138 million in net inflows, totaling over $750 million this week
- Robinhood Chain reached a new all-time high in active addresses following the listing of Cashcat on Robinhood US
- A new NFT mint called Mancer surged threefold at launch, with its token skyrocketing 11 times to $8 million
🦊 MetaMask Unveils AI Wallet for Autonomous Crypto Trading with Limits
On Thursday, MetaMask introduced its Agent Wallet, allowing AI agents to autonomously trade cryptocurrencies while adhering to user-defined parameters. Users can maintain control without relinquishing their private keys, enabling agents to execute swaps, perpetual contracts, prediction market bets, and staking across Ethereum-compatible networks and Hyperliquid, contingent upon users having:
- Set a spending limit
- Approved the protocols the agent can access
- Selected a risk management setting
Users can select between two operational modes: the more cautious “Guard Mode” and the less restrictive “Beast Mode.”
- Guard Mode (default): In this setting, users pre-approve the protocols and addresses the agent can engage with; any actions outside these parameters, or exceeding the spending cap, will require two-factor authentication before execution.
- Beast Mode: This mode eliminates the allowlist, allowing the agent to trade freely without needing prior approval, although it still relies on real-time threat detection, along with user-defined spending limits and a two-factor authentication safeguard for suspicious transactions.
All transactions undergo simulations, threat assessments, and protection against miner extractable value (MEV) risks, with qualifying trades receiving up to $10,000 in loss coverage per month. The wallet integrates seamlessly with existing AI tools used by developers, like Claude Code, Codex, Cursor, and OpenClaw, and it manages gas fees, paying them in the respective tokens instead of requiring the agent to hold a native coin from any blockchain. Importantly, there is no token linked to this service.
It’s worth noting that MetaMask is not the first to offer this feature. Coinbase launched agentic wallets earlier this year in February, and MoonPay has been developing similar solutions since spring. However, MetaMask commands a significant portion of the wallet market, holding roughly 25%. Consensys and its founder Joe Lubin are clearly banking on the notion that future on-chain activities will increasingly rely on autonomous software rather than human traders. The critical question remains whether traders will be comfortable entrusting real funds to such automated systems and how quickly trust can be established.
In my opinion, we are still over a year away from widespread adoption. However, progress is being made. Building this infrastructure now is logical, as agent-based trading is undoubtedly part of the future.
🌎 Macro Crypto and Markets
- Major cryptocurrencies are slightly up; BTC +0.4% at $65,000; ETH unchanged at $1,913; SOL steady at $73.50; HYPE +2% at $56.70
- Leading altcoins include LIT (+11%), ADA (+7%), and ENA (+6%)
- Oil +1% at $76.80; Gold +2% at $4,380
- Stock futures are positive ahead of the release of new job figures today; DOW +0.1%, Nasdaq +0.5%
- The Clarity Act vote has been officially postponed until after the August recess, with the chances of passing this year now at 13%
- Senators urged the CFTC to prohibit “wildfire bets” on prediction markets, as scrutiny of the sector intensifies
- Tether has expanded its tokenization efforts into Saudi Arabia, beginning with institutional real estate, with plans to incorporate additional asset classes on-chain as it deepens its presence in the Gulf region
- JPMorgan reported that inflows into Hyperliquid ETFs have stalled, cooling after a strong performance in May and June due to increasing competition from newer products in July and August
- Cathie Wood's Ark has made SpaceX and Circle its top holdings following its recent buying spree, with SpaceX now representing ARKK's fifth-largest position at nearly $282 million, accounting for 4.73% of the portfolio
- Nearly 23% of major Bitcoin miners are currently operating at a loss, as about 22.7% of 22 monitored mining models yielded negative returns as of August 6
Corporate Treasuries & ETFs
- Bitcoin ETFs recorded $138 million in net inflows on Thursday, while ETH ETFs attracted $92 million in inflows
Meme Coin Tracker
- Meme coins showed mixed results; DOGE +1%, SHIB -2%, PEPE +1%, PENGU -2%, TRUMP +2%, BONK -10%
- Robinhood Chain experienced volatility after Cashcat was listed on Robinhood US, falling 18% to $104 million; the new project Mancer’s token surged 11 times to $8 million; Pons (+35%) and Index (+45%) were also significant movers
- Solana leaders included Cate (+90%), Stonk (+45%), and butthole (+150%); ANSEM increased by 5% to $180 million
💰 Token, Airdrop & Protocol Tracker
- Hyperliquid's active perpetual traders reached a record high, with approximately 263,467, according to Hypertracker data
- Robinhood Chain set a new all-time high in active addresses at 375,000, while Launchpad volume increased to $212 million and DEX volume rose to $361 million
- The estate of the late Ondo Finance founder Nathan Allman has filed a lawsuit for control of the company, aiming to remove CEO Ian De Bode over an alleged unauthorized appointment
🚚 NFT Developments
- NFT leaders showed mixed performance; Punks +2% at 32.2 ETH, BAYC stable at 8 ETH, Pudgy unchanged at 3.85 ETH; Stonkbrokers fell 1% to 7.57 ETH
- The new mint Mancers launched at 0.834 ETH, nearly tripling from its initial price of 0.33 ETH last night (with a volume of 450 ETH)
- Momo (+450%) and God Pull (+70%) were among the top gainers
- Another XCOPY 1/1 was sold for over $500,000, marking the third NFT to reach that price in just two days