Live Feed

An address believed to belong to Bitwise, a spot Bitcoin ETF issuer and asset manager, withdrew $2.4 million worth of HYPE from crypto market maker Wintermute, according to an analysis by Onchain Lens. In addition to market making, Wintermute provides services including institutional liquidity and over-the-counter (OTC) trading.

Bitwise's XRP ETF has become the first of its kind to surpass $500 million in cumulative net inflows, The Crypto Basic reported. According to data from SoSoValue, the fund has not experienced a single month of net outflows since its launch last November. The next largest fund by cumulative net inflows is Canary Capital's XRPC with $466.97 million, followed by the Franklin Templeton XRP ETF (XRPZ) at $413.23 million.

The combined market capitalization of the dollar-pegged stablecoins USDT and USDC has fallen by $11 billion over the past two months, from $268 billion to $257 billion, CoinDesk reported. The outlet noted that while the two stablecoins' share of the total crypto market cap has remained relatively stable, there is a continuing trend of investors selling crypto for stablecoins and then moving those funds out of the on-chain ecosystem rather than reinvesting in risk assets.

Bitcoin surged as much as 7.7 times to a high of $126,200 after Strategy's first major sale in 2022, The Crypto Basic reported. At the time, Strategy (Nasdaq: MSTR) sold 704 BTC for $11.8 million as part of a tax strategy but soon after repurchased 810 BTC, maintaining its accumulation policy. The outlet noted that, excluding this transaction, Strategy had not made any other significant sales until recently. It further analyzed that if this pattern were to repeat, a simple calculation suggests Bitcoin could rise to around $484,800.

New York Stock Exchange-listed Bitcoin miner Hyperscale Data (GPUS) announced that its subsidiary, Alt Capital Group (ACG), purchased an additional 115.9205 BTC on the open market between June 30 and July 6. The company added that the combined BTC holdings of ACG and another subsidiary, Sentinum, now total 899.6503 BTC, valued at approximately $57.2 million as of July 5.

Blockchain security firm SlowMist reported on X that 182 security incidents in the first half of the year resulted in approximately $956 million in losses. While the number of incidents increased compared to the same period last year (121), the total value lost saw a significant decrease from $2.373 billion. By ecosystem, Ethereum recorded the highest losses at $134 million, followed by BNB Chain at $36.35 million and Arbitrum at $4.93 million. The DeFi sector was the most affected, with 116 incidents accounting for about $490 million in losses. Cross-chain bridges saw 20 incidents totaling roughly $346 million, with the Kelp DAO exploit alone responsible for about $292 million of that figure. The most common attack methods were contract and logic vulnerabilities (85 incidents), followed by the theft of private keys and credentials (17 incidents) and supply chain attacks (12 incidents).

Cryptocurrency market maker Wintermute has diagnosed Bitcoin's recent rebound as a "relief rally" driven by macroeconomic shifts, rather than a transition to a structural bull market. Wintermute stated that a combination of internal and external factors has fueled the crypto market's recovery, including an easing macroeconomic environment, the Fed's dovish stance, reduced geopolitical tensions in the Middle East, and the launch of a dedicated organization for institutional Ethereum engagement. The firm explained that these developments are sufficient to account for the recent gains without needing to search for a larger structural cause, concluding that the market is not currently in a structural bull market. Wintermute also noted that ETF fund flows have not yet improved to show net inflows. While calling the rebound a meaningful signal, the firm advised a cautious approach until sustained ETF inflows are confirmed.

Nasdaq-listed Bitcoin (BTC) mining company Bitdeer has unveiled its new Sealminer A4 Ultra Hydro mining rig on X. The machine features a hashrate of one petahash per second (PH/s) per unit. In high-performance mode, the rig exceeds 1 PH/s with a power efficiency of 10 joules per terahash (J/TH). According to a video released by the company, the number of miners needed to achieve a 1 PH/s hashrate has decreased from 1,000 in 2015, 71 in 2017, and 10 in 2021 to just a single unit today. A petahash per second is a unit of mining speed that represents the scale of hash calculations a miner performs per second.

Questions are rising about the sustainability of Bitcoin's recent rally amid a decline in futures open interest and slowing spot demand, CoinDesk reported. The cryptocurrency has retreated after hitting a two-week high of $64,500 yesterday. According to the report, the combination of falling open interest, sluggish ETF inflows, and a persistently negative Coinbase Premium is fueling skepticism. Furthermore, the liquidation of over $500 million in Bitcoin futures positions in the last 24 hours suggests that the price gains seen in July may have been driven by a short squeeze.

An AI model has correctly identified a 2024 governance proposal that Ethereum founder Vitalik Buterin posted anonymously to the community. The discovery comes after Buterin publicly questioned whether AI tools could break online anonymity and challenged anyone to find a proposal he had written. Buterin announced on July 7 that a winner had emerged. He explained that he originally wrote the proposal in Chinese, used the qwen2.5 model to translate it into English, and then manually corrected all errors. Franklin Wang, CEO of the decentralized exchange (DEX) Liquid and the winner of the challenge, said his team used a proprietary AI model called "Coinvest." Wang noted that the content of the proposal revealed Buterin's distinct writing habits.

Starknet co-founder Eli Ben-Sasson has argued that Bitcoin's fixed supply model of 21 million coins is not a reasonable long-term structure. He stated on X that as time passes, the amount of permanently lost supply from misplaced private keys will continue to grow, and over an infinite timeline, all keys could potentially be lost. Ben-Sasson stressed that BTC needs a clear monetary policy with a cap on its issuance rate, suggesting that a maximum annual rate of 4% could maintain a sufficient supply in line with population growth.

On-chain analyst Tom Wan claimed on X that Ethena (ENA) holds nearly half of the total USDG supply on Robinhood Chain. He explained that Ethena holds $50 million worth of USDG on the chain itself, plus another $50 million in a joint Ethena and Steakhouse USDG vault. Wan also noted that the total market capitalization of stablecoins on Robinhood Chain has surpassed $200 million. Citing a chart from Entropy Advisors, he stated that as of July 7, the figure stood at approximately $239.04 million, comprising $221.33 million in USDG and $17.71 million in USDe.

South Korean crypto exchange Bithumb has announced that it will temporarily suspend deposits and withdrawals for Hedera (HBAR) starting at 10:00 a.m. UTC on July 8 to support a network upgrade.

The Spot Cumulative Volume Delta (CVD) chart analyzes the order book for the BTC/USDT spot pair. The upper section shows a Volume Heatmap, while the lower section displays the CVD. - The Volume Heatmap at the top tracks the scale of trading volume at specific price levels. The background color brightens when the price remains in a particular range for an extended period or experiences a significant move. Brighter-colored areas are likely to act as support or resistance. - The CVD indicator at the bottom represents buy and sell orders categorized by the size of the funds involved. As buy orders increase, the line for the corresponding color rises. For example, the yellow line represents orders between $100 and $1,000, while the brown line indicates large orders between $1 million and $10 million.

Peter Schiff, CEO of Euro Pacific Capital and a noted Bitcoin critic, has described Strategy's (Nasdaq: MSTR) business model as a Ponzi scheme that has now moved from its initial to its middle stage. He contends that the company's practice of using funds from preferred stock sales to accumulate Bitcoin is akin to a scam. Schiff has previously stated that Strategy will eventually face a point where paying dividends on its STRC preferred stock becomes unsustainable. When that time comes, he predicted, Michael Saylor will have to choose between liquidating the company's assets or selling off preferred shareholder equity. Schiff asserted that this structure is destined to collapse.

The number of large transfers worth over $100,000 has surged for cryptocurrencies Litentry (LIT) and Mantle (MNT), BeInCrypto reported, citing on-chain analytics firm Santiment. According to the report, there has been a distinct increase in large whale transfers for both assets over the past six months. During this period, LIT recorded 86 transactions exceeding $100,000, while MNT saw 37. The increased activity in LIT was attributed to a tokenomics revamp, buybacks and burns, and expectations for staking yields. For MNT, the surge was linked to expectations of expansion into real-world assets (RWA) and tokenized stocks. According to CoinMarketCap, LIT is trading at $2.53, up 2.07% over the past 24 hours, while MNT is at $0.4323, down 1.01%.

Binance Co-founder and CEO He Yi announced on X that the exchange has paid over $1.2 billion in interest to stablecoin depositors through its Binance Earn product since 2022. She added that the value returned to users is important, stating that helping them access the market and utilize their assets is what creates long-term opportunities.

Whale Alert reported that 2,500 million USDT has been burned at the Tether Treasury.

BTCS (Middle East), a subsidiary of the Switzerland-based financial services intermediary Bitcoin Suisse, announced it has obtained a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). This license allows BTCS (Middle East) to provide cryptocurrency financial services to institutional and professional investors within the United Arab Emirates (UAE). The company had previously received an In-Principle Approval (IPA) from the FSRA last year.

Binance has announced it will delist five spot trading pairs at 3:00 a.m. UTC on July 10. The affected pairs are GMX/USDC, PARTI/FDUSD, RUNE/BTC, SEI/BTC, and T/USDC.

Coinbase, the largest U.S. cryptocurrency exchange, announced on July 7 that it has obtained an investment services license in the UK compliant with the Markets in Financial Instruments Directive (MiFID). The license allows the company to legally offer derivatives and stock trading in addition to its cryptocurrency services in the country. In its announcement, Coinbase stated that the boundary between crypto and traditional finance is rapidly disappearing and that it decided to expand its investment in the UK because it has a market that justifies the commitment.

Matt Cole, CEO of Bitcoin acquisition firm Strive (Nasdaq: ASST), said in a recent interview with Cointelegraph that the company has no need to sell its Bitcoin holdings, even if the price were to fall to one cent. He emphasized that Strive is entirely debt-free and its BTC holdings are not leveraged or used as collateral, eliminating any risk of liquidation regardless of the price. Cole stated that the price could drop to one cent and remain there for 18 months, and the company would still not need to sell a single BTC.

Binance announced it will end support for PYR and VANRY deposits and withdrawals via the Polygon network at 8:00 a.m. UTC on July 14. Support for the tokens on other networks will continue.

Binance has launched a new product on Binance Earn called "BTC Yield," which allows users to earn additional returns on their BTC without selling it, CoinDesk reported. The product employs a covered call strategy, selling call options against deposited BTC to generate income from option premiums. Users who deposit BTC receive BTCY, a token representing their stake. The yield is distributed in two ways: a portion of the premiums is converted to BTC and paid to users' spot accounts every Friday, while the remainder is used to increase the value of BTCY relative to BTC. However, Binance charges a 15% fee on the option premiums and does not guarantee the principal or weekly profit distributions. The outlet noted that in a bull market, returns could underperform simply holding spot BTC if the price rises significantly, as the upside is capped when the call options are exercised.

The Bitcoin spot price has remained firm despite Strategy (Nasdaq: MSTR), the largest corporate holder of BTC, announcing yesterday that it sold 3,588 BTC, worth approximately $226 million, according to an analysis by Joao Wedson, founder of crypto analytics firm Alphractal. Wedson noted that this was Strategy's first large-scale BTC sale since 2022. He explained that the amount sold represents only 0.4% of the company's total holdings, and the market appears to be interpreting the move as a liquidity management measure to meet obligations related to preferred stock. However, Wedson warned that repeated or larger sales could become a negative signal for the market. He added that the sale caused the Integrated Market Index in the derivatives market to fall sharply from bullish to bearish territory, indicating a clear contraction in investor sentiment within that sector.