A whale/institution that accumulated a total of 1,495 WBTC by the end of last year has recently started selling to take profits
On July 4th, based on the monitoring of on-chain data analyst Yu Jin, a whale/institution that had accumulated 1,495 WBTC through a collateralized loan (or looped borrowing) from July to November 2024 has recently begun to take profits by selling WBTC.
Currently, the overall profit on WBTC is as high as $49.75 million: realizing a profit of $19.17 million from the sold portion and an unrealized gain of $30.58 million from the unsold portion.
By using a collateralized loan at an average price of $69,162 in the second half of last year, the whale/institution acquired 1,495 WBTC. Then, it started to transfer WBTC to Binance in batches starting from March this year to sell and repay in USDC. So far, 723 WBTC has been sold to exchange for $69.17 million USDC and repay the loan. The selling price averaged $95,678, and it still holds 753.8 WBTC (approximately $82.6 million).
15 minutes ago
NASDAQ and S&P 500 Index Hit Record High Closes, BMNR Surges by 130.77%
On Thursday, U.S. stocks closed early on July 4th. The Dow increased by 0.7%, the S&P 500 went up by 0.8%, and the Nasdaq rose by more than 1% (with the Nasdaq and the S&P 500 hitting new closing highs once again). Cryptocurrency stocks showed a mixed trend. Some previously soaring stocks experienced pullbacks, including:
Coinbase (COIN) with a 0.38% increase;
MicroStrategy (MSTR) up by 0.43%;
Mogo Inc (MOGO) down by 14.40%;
Bit Digital (BTBT) with a 11.79% increase;
Thumzup Media Corporation (TZUP) up by 14.57%;
Bitmine Immersion (BMNR) up by 130.77%;
Semler Scientific (SMLE) up by 4.17%;
SharpLink Gaming (SBET) up by 5.72%;
Eyenovia (EYEN) down by 9.23%.
15 minutes ago
24-Hour Spot Funding Flow: BTC Net Inflow of $105M, ETH Net Inflow of $55.99M
On July 4th, based on Coinglass data, the top net inflows of funds in the past 24 hours for cryptocurrencies are as follows:
The net inflow of USDC is $128 million;
The net inflow of BTC is $105 million;
The net inflow of ETH is $55.99 million;
The net inflow of SUI is $11.91 million;
The net inflow of LTC is $6.34 million.
The top net outflows of funds for cryptocurrencies are as follows:
The net outflow of USDT is $80.18 million;
The net outflow of H is $12.62 million;
The net outflow of SOL is $9.81 million;
The net outflow of NEWT is $7.62 million;
The net outflow of PEPE is $7.11 million.
15 minutes ago
Cryptocurrency Fear and Greed Index Rises to 73, Market Greed Sentiment Intensifies Compared to Last Week
On July 4th, based on alternative data, today's Crypto Fear and Greed Index stands at 73 (with last week's average being 65), suggesting an enhanced "greed" sentiment in the market.
Note: The threshold for the Fear Index ranges from 0 to 100 and incorporates the following indicators: Volatility (25%) + Market Volume (25%) + Social Media Activity (15%) + Market Surveys (15%) + Bitcoin's Dominance (10%) + Google Trends Analysis (10%).
15 minutes ago
Bloomberg: In the past year, early Bitcoin holders have sold 500,000 BTC. Institutional inflows are stagnant, posing a risk of a sharp decline.
On July 4th, according to Bloomberg, despite a continuous stream of good news, the price of Bitcoin has been unable to break out of the current trading range for several months. Beneath the surface, while long-term dormant whales are reducing their positions, institutional investors are accelerating their purchases. This transformation is gradually changing Bitcoin's narrative from a high-risk speculative asset to a long-term allocation asset.
According to 10x Research data, over the past year, large holders have sold more than 500,000 bitcoins (valued at more than $50 billion at current prices), which is nearly equivalent to the net inflows since the approval of the U.S. Bitcoin ETF, and is not far from the cumulative scale of $65 billion over the past five years by the cryptocurrency holding pioneer Michael Saylor and his company (now named Strategy). Many sellers can be traced back to the early days of Bitcoin when prices were much lower than the current levels. Some whales are not
15 minutes ago
In mid-July, three important crypto bills will be reviewed in the U.S. House of Representatives
July 4th: The Republican leadership of the U.S. House of Representatives declared on Thursday that they have plans to give consideration to three significant cryptocurrency-related bills during the week commencing July 14th. These encompass:
· The GENIUS Stablecoin Act (the version that has been passed by the Senate).
· The Digital Asset Market Structure and Investor Protection Act.
· A proposal aiming to restrict the Federal Reserve from issuing a central bank digital currency.
It is worthy of note that although the House of Representatives had previously formulated its own stablecoin bill (the STABLE Act), in order to expedite the legislative process, they will give precedence to the Senate-passed version of the GENIUS Act.
The "Digital Asset Market Structure and Investor Protection Act" will define the regulatory responsibilities of the SEC and CFTC with respect to cryptocurrency and enhance the requirements for investor protection.
15 minutes ago
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