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  • Aptos price surges as stablecoin supply nears all-time

    Aptos price surges as stablecoin supply nears all-time

    • Aptos price rose to highs of $5.07 as trading volume jumped 189% to over $643 million.
    • Data shows Aptos stablecoin supply nearing $1.2 billion.
    • Aptos Labs and Jump Crypto have introduced Shelby, a decentralized storage protocol, enhancing Aptos’ appeal for web3 applications.

    The Aptos blockchain, a leading Layer-1 platform, has seen its native token, APT, experience a significant price surge. As Bitcoin recovered to above $106k, APT price climbed nearly 17% in the past 24 hours to highs of $5.07. Trading volume increased 189% to $643 million.

    The uptick in APT price coincides with the platform’s stablecoin supply approaching an all-time high of approximately $1.2 billion, reflecting growing adoption and liquidity within the Aptos ecosystem.

    According to industry analysts, the surge in stablecoin supply highlights Apts’ increasing prominence in decentralized finance (DeFi).

    Aptos stablecoin supply nears $1.2 billion

    While overall market sentiment has played a part in Aptos token’s bounce, network related growth appears to a main catalyst.

    Per details shared by Token Terminal, Aptos’ stablecoin supply has grown from $430 million in December 2024 to near the all-time high of $1.2 billion.

    The metric last reached this milestone in May 2025, signaling robust network activity. Leading stablecoins Tether (USDT) and USDC (USDC) have driven this surge in liquidity.

    Notable gains for APT have also come after Wyoming picked Aptos’ blockchain for the state’s WYST stablecoin pilot.

    This momentum suggests potential for further price gains if adoption continues, which also ties in with the latest Aptos related news.

    Meanwhile, the average transaction fee on Aptos has fallen to around $.0.0005.

    Jump Crypto and Aptos Labs to launch Shelby

    Adding to the bullish sentiment, Aptos Labs, in collaboration with Jump Crypto, have announced the upcoming launch of Shelby, a decentralized hot-storage protocol designed for high-frequency web3 workloads.

    Announced on June 24, 2025, Shelby leverages Aptos’ 600ms finality and ultra-low gas fees to offer cloud-speed storage for applications like streaming video, AI pipelines, and DePIN feeds.

    The protocol is chain-agnostic, with planned support for Ethereum and Solana, and has attracted early interest from brands like Metaplex and Story Protocol.

    According to Aptos Labs’ X account, Shelby aims to deliver web2 performance with web3 transparency, positioning Aptos as a leader in scalable infrastructure.

    “Web3 wasn’t meant to run on Web2 infrastructure. Its potential to create value through data has been throttled. That ends now. ShelbyServes is a decentralized hot storage protocol, designed to serve real-time data, and reward it,” Aptos Labs wrote.

    Shelby’s potential to drive cross-chain adoption could be crucial to Aptos, with a developer-focused devnet slated for Q4 2025.
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  • Bitcoin hits new all-time high,100% of BTC holders in profit

    Bitcoin hits new all-time high,100% of BTC holders in profit

    Bitcoin surges to all time high

    • Bitcoin hit a new all-time high above$109,000 on May 21, 2025.
    • The milestone saw 100% of BTC holders fall into profit.
    • Bitcoin also surpassed Amazon in terms of market cap

    Bitcoin price has just surged to a new all-time high above $109k.

    On May 21, 2025, the price of Bitcoin spiked more than 4%, storming past its previous ATH as optimism swept bears aside.

    Over $50 million worth of BTC shorts were liquidated in just an hour.

    100% of Bitcoin holders are in profit

    This latest Bitcoin price surge sent every other holder of the coin into a profitable position.

    According to data from Sentora, formerly IntoTheBlock, 100% of Bitcoin addresses were in the money amid the massive milestone.

    With Bitcoin (BTC) price retesting the $109k level, holders underwater declined to zero. Also at 0% were addresses with the money, meaning wallets whose average buy price was at or near the previous ATH.

    Sentora had earlier shared via X on May 21, 2025, that BTC holders were 99% in profit as the price crossed the $107k level.

    A lot of those celebrating the new ATH are hodlers who have held BTC for more than a year. The percentage count according to Sentora data is 75%. More than 21% have held Bitcoin for 1-12 months.

    Notably, when Bitcoin price fell to under $80k in April, new holder wallets were among those to aggressively offload.

    Analyst says BTC could hit $600k in 2025

    On May 21, as Bitcoin price surged towards its all-time high above $109k, Fred Krueger shared his staggering Bitcoin price prediction for 2025.

    According to the BTC bull, the top crypto could see its price hit $600k by October 2025. While this may be an overly bullish take, his forecast is that a run to $150k by the summer will provide the impetus for a new parabolic leg up.

    Bitcoin surpasses Amazon by market cap

    In the past 24 hours, the benchmark crypto has also notched another milestone – its market cap has surpassed that of Amazon.

    According to details on CompaniesMarketCap, Bitcoin’s spike above $109k sees it overtake Amazon, the leading e-commerce company listed in the U.S.

    While Amazon currently sits at a $2.157 trillion market cap, Bitcoin has increased to over 2.166 trillion.

     

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  • Crypto news today: Bitcoin nears all-time high; ETH, DOGE, PEPE, ATOM show bullish signs

    Crypto news today: Bitcoin nears all-time high; ETH, DOGE, PEPE, ATOM show bullish signs

    Crypto news today: Bitcoin nears all-time high; ETH, DOGE, PEPE, ATOM show bullish signs

    • Bitcoin surged past $100K this week, fueled by strong spot ETF inflows of over $1 billion.
    • With Bitcoin nearing its all-time high, key support is now eyed around the $100,000 level.
    • Ether experienced a dramatic price jump, breaking $2,600 and targeting $3,000.

    Bitcoin has decisively reclaimed ground above the psychologically crucial $100,000 mark this week, signaling a resurgence of bullish momentum in the cryptocurrency market.

    Supported by substantial inflows into spot Bitcoin ETFs, particularly BlackRock’s IBIT fund, buyers are now attempting to consolidate these gains and potentially push towards new all-time highs.

    This renewed strength in the market leader is also igniting interest in several altcoins, prompting discussions about the potential onset of an “altseason.”

    The past week saw Bitcoin climb over 10%, with buyers successfully pushing the price through significant resistance levels.

    This rally has been notably backed by consistent institutional demand, exemplified by BlackRock’s IBIT spot Bitcoin ETF extending its inflow streak to 19 days, attracting $1.03 billion in the latest trading week alone, according to Farside Investors data.

    Technically, Bitcoin is gradually inching towards its all-time high of $109,588, indicating a measured but confident advance by the bulls who seem reluctant to book profits prematurely.

    While this strong rally has pushed the Relative Strength Index (RSI) into overbought territory – often a precursor to a short-term correction or consolidation – any pullback is anticipated to find robust support between the $100,000 level and the 20-day exponential moving average (EMA), currently around $96,626.

    A successful rebound from this support zone would significantly increase the probability of a breakout above $109,588, potentially targeting $130,000.

    However, bears still have a window to regain control.

    A swift and decisive break below the 20-day EMA could trigger a sharper decline towards the 50-day simple moving average (SMA) near $88,962.

    On shorter timeframes, strong selling pressure is expected in the $107,000 to $109,588 zone.

    A successful defense of the 4-hour 20-EMA on any dip would signal continued bullish strength, while a break below $100,000 could open the door for a deeper correction towards $93,000 or even $83,000.

    Ether (ETH) skyrockets, eyes further upside

    Ether (ETH) experienced a dramatic surge, catapulting from $1,808 on May 8 to $2,600 by May 10, showcasing aggressive buying pressure.

    This rapid ascent also pushed its RSI into overbought territory, suggesting a potential near-term consolidation or minor pullback.

    Key support levels to watch on the downside are $2,320 and then $2,111.

    If Ether finds support at these levels and turns higher, the ETH/USDT pair could extend its rally towards $2,850 and subsequently aim for the $3,000 mark.

    However, a break below the $2,111 support would invalidate the immediate bullish outlook, potentially leading to a period of range-bound trading between $1,754 and $2,600.

    On the 4-hour chart, bulls managed to push above the $2,550 resistance but struggled to sustain those higher levels.

    A positive sign is that buyers haven’t conceded much ground, suggesting they anticipate further upside.

    A break above $2,609 could trigger the rally towards $3,000, while a drop below the 4-hour 20-EMA might initiate a deeper correction towards the $2,111 support.

    Dogecoin (DOGE) breaks resistance, signals trend change

    Dogecoin (DOGE) showed a significant short-term trend change by soaring above the $0.21 overhead resistance on May 10.

    The rally is currently facing selling pressure near $0.26, which could lead to a retest of the $0.21 breakout level.

    If DOGE rebounds strongly from $0.21, it would indicate a shift in market sentiment from “sell the rally” to “buy the dip,” increasing the likelihood of a continued advance towards $0.31.

    To negate this bullish momentum, sellers would need to pull the price back below the 20-day EMA (around $0.19).

    Such a move could trap DOGE within a larger trading range between $0.14 and $0.26 for an extended period.

    Immediate support on any pullback from $0.26 is seen at $0.22 and then $0.21.

    Pepe (PEPE) rallies sharply, tests key levels

    Meme coin Pepe (PEPE) staged a sharp rally from its 50-day SMA (around $0.000008), breaking above the $0.000011 overhead resistance on May 8.

    This aggressive move has also pushed its RSI into overbought territory, signaling a potential pullback. The PEPE/USDT pair might drop to retest the $0.000011 breakout level.

    If this level holds as support, it would strengthen the bullish case for a rally towards $0.000017 and then $0.000020.

    Conversely, a break below the 20-day EMA (around $0.000009) would invalidate this optimistic outlook.

    On the 4-hour chart, bears are aggressively defending the $0.000014 level.

    A pullback to the 4-hour 20-EMA is a critical support to watch; a bounce could lead to another attempt to break $0.000014, while a failure could see PEPE slide back to $0.000011 or even the 50-SMA.

    Cosmos (ATOM) breaks out of base, targets higher levels

    Cosmos (ATOM) signaled a potential trend change by closing above the $5.15 resistance on May 10, breaking out of a large basing pattern.

    However, bears are expected to defend this level strongly.

    If they succeed in pushing the price back below $5.15, aggressive bulls could be trapped, leading to a pullback towards the moving averages.

    If buyers can sustain the price above $5.15, the ATOM/USDT pair could gain significant momentum and rally towards $6.50.

    While sellers will likely attempt to halt the advance there, a successful break above $6.50 could open the path towards $7.50.

    The sharp rally has pushed the 4-hour RSI into overbought territory, suggesting a short-term correction or consolidation.

    Bulls must defend the $5.15 level to maintain momentum towards $6.60. A break below $5.15 could lead to a deeper correction towards the 20-EMA or even $4.70.

    While some analysts debate whether a full-blown “altseason” has truly begun, given the modest recovery of many altcoins from their significant drawdowns, the recent price action across several key cryptocurrencies suggests a renewed bullish appetite in the market.

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  • Bitcoin reaches new all-time high of above $106,000

    Bitcoin reaches new all-time high of above $106,000

    Eric Trump praises Bitcoin, predicts it will hit $1M at Bitcoin MENA 2024
    • Bitcoin hit $106,400 in the early hours of December 16
    • Crypto trader believes the next three to four weeks are going to be significant for Bitcoin if history repeats
    • Investors believe Bitcoin reaching $120,000 by the end of 2024 is achievable

    Bitcoin set a new all-time high above $106,000 following news that President-elect Donald Trump is considering plans to create a US Bitcoin strategic reserve.

    In the early hours of December 16, Bitcoin topped more than $106,400, according to data from CoinMarketCap.

    Bitcoin reaches over $106,000, setting a new all-time high. Source: CoinMarketCap

    At the time of publishing, Bitcoin has retraced slightly to $104,700. Over the past year, the world’s largest crypto asset has risen nearly 148% in value. Bitcoin’s previous high was set on December 5, hitting close to $104,000.

    News of Bitcoin’s rally comes as Trump announced he’s considering creating a US Bitcoin strategic reserve similar to its oil reserve. Speaking to CNBC last week, Trump said:

    “We’re gonna do something great with crypto because we don’t want China, or anybody else … but others are embracing it, and we want to be ahead.”

    In relation to a question about whether the US will create a Bitcoin strategic reserve, Trump said: “Yes, I think so.”

    In a post on X, Ash Crypto wrote: “Bitcoin is breaking out. If history repeats, the next 3-4 weeks are going to be massive.”

    Crypto-friendly administration

    The incoming Trump administration is seen as more crypto friendly compared to Biden’s team.

    During his campaign, Trump promised to make America the “crypto capital of the planet.” Since winning the US election, his team has already made significant appointments, many of whom are crypto-friendly.

    Last week, Trump appointed Paul Atkins as the next Chair of the US Securities and Exchange Commission (SEC). He will be replacing Gary Gensler who is stepping down on January 20, 2025.

    Trump also named David Sacks as the lead policy advisor on artificial intelligence and crypto, dubbing him the “White House AI and Crypto Czar.” In November, Trump announced that Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE) to “dismantle government bureaucracy.”

    Speaking to the BBC, Peter McGuire from trading platform XM.com, said:

    “The Bitcoin rally since the election has been parabolic and the FOMO – or fear of missing out – rally is gathering momentum. Many investors believe $120,000 is achievable by the end of the year and then in 2025 there’s talk of greater than $150,000 by mid-year.”

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  • Bitcoin hits a new all-time high at $69,170: Will altcoins follow suit?

    Bitcoin hits a new all-time high at $69,170: Will altcoins follow suit?

    Key takeaways

    • Bitcoin reached a new all-time high price of $69,170 on Tuesday and altcoins could follow soon.

    • AltSignals’ ASI token is up by 17% in the last 24 hours and could rally higher soon

    Bitcoin sets a new all-time high

    Bitcoin, the world’s leading cryptocurrency by market cap, has set a new all-time high following its rally on Tuesday. BTC traded at an all-time high price of $69,170, its highest level since November 2021. 

    BTC experienced a flash crash following the new record to the $62k region. However, it has recovered and is now closing in on its all-time high price again. At press time, the price of Bitcoin stands at $67,459 per coin. BTC continues to rally ahead of the upcoming Bitcoin halving event. 

    AltSignals’ adoption continues as it gets listed on CoinGecko

    AltSignals continues to gain more adoption in the market weeks after ending its presale. The project is already benefiting from the ongoing Bull Run and could soar higher in the medium to long term.

    A few hours ago, AltSignals was listed on CoinGecko, one of the leading cryptocurrency data websites in the world. This means it is now easy to track ASI’s price, allowing investors to make informed decisions. 

    Following the conclusion of its presale, AltSignals is using the funds raised to develop products for its users. AltSignals is leveraging AI and blockchain technology to ease crypto trading and, in the process, help onboard more traders to the market. 

    What is AltSignals?

    AltSignals is a Web3 project that aims to gain adoption beyond the crypto space. The project provides services to traders in the crypto market and beyond. According to their whitepaper, AltSignals intends to make it easier for traders to have access to trading signals and other resources that would boost their trading strategies. 

    The project raised $1.8 million in its presale and is channelling most of the funds towards developing ActualizeAI, an AI solution that will make it easier for people to trade cryptocurrencies and other financial assets. 

    ActualizeAI will work 24/7, generating trading signals and helping traders to boost their strategies. Furthermore, ActualizeAI helps eliminate some of the obstacles traders face in the market. 

    AltSignals will be leveraging several technologies including blockchain, AI, natural language processing, machine learning, regression, and predictive modelling, to enhance its services. 

    AltSignal’s ASI surges by 17% 

    The cryptocurrency market has been bullish over the last few weeks and ASI has also been rallying. In the last 24 hours, ASI is up by 17% and is currently trading at $0.00493 per coin. 

    With the right level of adoption, AltSignals’ ASI token could be one of the gems of this bullish cycle. ASI is already live on the Uniswap platform and will become available on other decentralised and centralised crypto exchanges in the coming months. 

    Should I buy ASI now?

    AltSignals’ ASI token is up by more than 20% over the last seven days but still has room for growth.  Its token is already live on Uniswap and will also launch on a few other DEX and CEX in the coming weeks and months. 

    Those who missed out on the presale can still purchase ASI at a discount as the coin’s value remains low. However, with the right level of adoption and listing on multiple exchanges, ASI’s value could soar higher in the coming months and years. 

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  • $115M Liquidated in 1 Hour as Crypto Market Plunges; $GFOX Presale Hits New All-Time High

    $115M Liquidated in 1 Hour as Crypto Market Plunges; $GFOX Presale Hits New All-Time High

    The crypto market hasn’t had the best start to 2024. This has affected many altcoins, and investors are confused about the best cryptos to invest in. Reports show that the market experienced $115m liquidation in an hour, further decreasing the market’s total value. However, some altcoins still show positive prospects amidst this challenging period. 

    Experts believe they may improve holders’ portfolios in the long run. Galaxy Fox is one of these altcoins. The new meme coin presale keeps progressing regardless of the market state. $GFOX recently hit a new high, sending optimism to existing adopters. New investors now scramble to join the meme coin’s presale. 

    Galaxy Fox: Profit-yielding ICO Amidst Crypto Market Plunge 

    Galaxy Fox is a trending presale meme coin with excellent prospects. The new token is gradually becoming prominent, with investors seeing it as one of the best cryptos to invest in currently. 

    $GFOX aims to be a market success. It will achieve this by entering the crypto landscape with features and functionalities that position it for top performance. The fox-themed meme coin will have P2E functionality while maintaining its meme culture. 

    Galaxy Fox could be amongst the few successful crypto projects to combine meme and P2E functionalities. The meme coin’s own will be different because of strong community backing, developers’ dedication, and utility beyond its ecosystem. $GFOX thrive won’t be localized. Instead, it will spread across web3 space, making it a significant token to every stakeholder in the space. 

    The Galaxy Fox’s ecosystem P2E mechanics will see $GFOX rival top gaming tokens like MANA, AXS, SAND, and GALA. $GFOX aims for a better performance than these tokens had in the previous year, and it looks set to achieve it. Despite the crypto market plunge, analysts believe the GameFi sector will improve drastically this year. Hence, the prediction that $GFOX could be the next P2E sensation is seemingly likely. 

    $GFOX facilitates the P2E game in its ecosystem. It’s used to purchase boosters and NFTs to improve gameplay and serve as a reward for top performers. Ecosystem members can also earn passive income by staking $GFOX token. Outside of its ecosystem, $GFOX is expected to be a payment option, a reward, and a token of value. The booming meme coin is deflationary, meaning that it will experience periodic token reduction. This will contribute to $GFOX value appreciation. 

    $GFOX initial coin offering (ICO) is among the best currently, yielding over $2.7 million. It is set to hit a $3 million high soon and could end above $7 million. The exciting thing about the ICO is the value of the $GFOX presale token. 

    The value is currently at a considerably low point, but has a high possibility of skyrocketing when it enters the retail phase. However, the periodic increase in this value indicates that the profit margin may keep reducing with every delay. Investors are urged to be proactive. 

    Celestia ($TIA): Another Altcoin Weathering Current Market Storm

    $TIA is another cryptocurrency that can help investors escape the effect of this liquidation. The altcoin has been impressive, with over 20% return in the past week. While its recent run has been on a downtrend, analysts believe it’s still one of the best cryptos to invest in at the moment. 

    The price of $TIA set a $20.26 all-time high a few days ago and hopes to return to the price level and beyond soon. The cryptocurrency is hovering around $19.00-$20.00 price point, with current support around $18.20. 

    Experts believe that $TIA is another option that can help investors get through this plunge. The crypto displays high profitability and strong resistance to the bear pressure. $TIA is expected to gain momentum again, and investors can have something to cheer about when it does. A finish above $50 by year-end looks possible, according to analysis by keen observers. 

    Conclusion 

    The crypto market liquidation is clearly having negative effects on the market. With many altcoins declining over the past few days, the buzzing $GFOX presale and $TIA look like the best cryptos to invest in now. Galaxy Fox presale presents an excellent profit-making opportunity amidst this market uncertainty, and smart investors are well-positioned to take full advantage.

    Learn more about $GFOX here:

    Visit Galaxy Fox Presale | Join the Community

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  • Bitcoin mining difficulty hits all-time high, above 50 trillion hashes

    Bitcoin mining difficulty hits all-time high, above 50 trillion hashes

    Key Takeaways

    • Bitcoin mining difficulty has surpassed 50 trillion hashes for the first time ever
    • Higher difficulty means more competition and less profit for miners, but also more security for the Bitcoin network
    • Higher mining difficulty means greater energy input required to mine Bitcoin, meaning greater cost for miners
    • Mining stocks have underperformed Bitcoin significantly over the last year

    It has never been so difficult to mine Bitcoin. Literally. Bitcoin mining difficulty continues to rise incessantly, surpassing the 50 trillion hash mark for the first time ever last week.

    What is Bitcoin mining difficulty?

    If it were not for the Bitcoin mining difficulty adjustment, blocks would be appended to the blockchain at an increasing speed as more miners joined the Bitcoin network. In such a way, the Bitcoin mining difficulty adjusts via an automatic algorithm to ensure blocks are appended to the ever-growing blockchain at consistent 10 minute intervals.

    As more miners join the network, difficulty rises. In such a way, blocks do not get discovered quicker as more miners join the network. This difficulty adjustment is thus vital to ensure the supply of Bitcoin is released at a pre-programmed pace, as outlined by the anonymous Satoshi Nakamoto in the Bitcoin whitepaper. 

    This explains how, in the early days, mining could be carried out on a personal laptop, because Bitcoin was so niche and miners were so few and far between – hence the mining difficulty was far lower. This is why you hear stories of miners who find (or lose) stashes of Bitcoin on old hard drives which were close to worthless when they were mined. 

    Today, however, Bitcoin is well and truly in the mainstream, and mining difficulty has risen accordingly. Most mining is carried out by supercomputers, while there are many public companies carrying out the task.  

    What does increasing mining difficulty mean?

    Mining difficulty is increasing because more computational power is being put towards Bitcoin mining. The hash rate is what we refer to as the computational power of the Bitcoin network. Looking at the chart, this is at an all-time high – which makes intuitive sense, given mining difficulty is also at an all-time high. 

    For the Bitcoin network as a whole, this is a good thing. Bitcoin’s hash rate is a crucial indicator of the security of the network. A higher hash rate means Bitcoin is more resistant to an attack by a malevolent actor. This is because the higher the hash rate, the more expensive and implausible it is for an actor (or a group of actors) to seize control of 51% of the network, when Bitcoin could be exposed to what is known as a 51% attack (coins could be double spent and the veracity of the blockchain would be in doubt). 

    However, there are downsides to this, too. I detailed this in depth last week in a report on Bitcoin mining stocks. In summary, more hash power means greater cost for miners, as the increased difficulty means a greater amount of energy is required to power the computers working to validate the transactions on the blockchain. This is why miners margins are getting cut into as more miners join the network (rising electricity costs also do not help). 

    “The rapid decline in the Bitcoin price, down from $68,000 at the peak of the bull market in late 2021, has obviously hurt the mining industry”, says Max Coupland, director of CoinJournal. “However, that is far from the only problem facing miners. The mining difficulty hitting an all-time high means greater amounts of energy are required to mine, at a time when inflation and the Russian war have pushed the price of energy up immensely”. 

    The mining industry is hence extremely volatile, as not only is it sensitive to the volatility of Bitcoin itself, but it also suffers from rising energy costs. The below chart demonstrates how mining stocks have underperformed Bitcoin in recent times. It looks at the Valkyrie Bitcoin Miners ETF, which tracks mining companies and was launched in February 2022. 

    With Bitcoin mining difficulty hitting an all-time high, racing past the 50 trillion hash mark for the first time ever, things won’t get any easier for miners. However, like always, it will ultimately come down to the Bitcoin price. With block rewards and transaction fees recouped in the form of Bitcoin, and the entire industry built upon this asset, mining companies will go as far as the Bitcoin price takes them.

    If you use our data, then we would appreciate a link back to https://coinjournal.net. Crediting our work with a link helps us to keep providing you with data analysis research.

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  • Long-term Bitcoin holders at all-time high, but price not cooperating

    Long-term Bitcoin holders at all-time high, but price not cooperating

    Key Takeaways

    • Two-thirds of the Bitcoin supply has not moved in over a year
    • Metrics for percent of supply unmoved in 2+, 3+ and 5+ years also at all-time highs
    • The average hold period for Bitcoin on-chain is 3.8 years
    • Despite thesis that dwindling supply will boost price, this has not proved the case thus far

    The capped supply of Bitcoin has always offered an intriguing layer to analysis of the enigmatic asset. 

    Simply put, there are not many assets worldwide that offer an inelastic supply. Truthers argue that this cap will inevitably squeeze the price upwards through the simple economic theory of supply and demand. That is, assuming the demand continues to grow, of course. 

    Here, we look at this supply, and how many of the total supply of 21 million bitcoins (of which 19.3 million are currently in circulation) have not moved in quite some time.

    Percentage of Bitcoin supply unmoved in over a year at all-time high

    If one takes the 1+ year mark as a benchmark for long-term holders, that means a growing amount of Bitcoin supply is held by what constitutes long-term investors. 

    Two-thirds of the Bitcoin supply has not moved in over a year, an all-time high. That means no purchases or sales. 

    In expanding the timeframe out, we can look at what portion of this 67% has been held for even greater amounts of time. On the below chart, I have plotted the portion of supply that has been stagnant for 1+ years, 2+ years, 3+ years and 5+ years. 

    The results are interesting. Nearly half the supply – 49.3% – has not moved in over 2 years. Pushing out to 3+ years, the number is 39%. And 28.1% of the supply has not moved in 5+ years. The marks are all all-time highs.

    So, diamond hands? Well, sort of. The numbers are certainly large, but there are other variables at play. Most notably lost coins, for which it is impossible to know how many there are. Satoshi Nakamoto is estimated to own over one million coins, which is circa. 5% of the supply alone. 

    Long-term holders growing despite market carnage

    Nonetheless, to see such stout numbers following the year that crypto has had is notable. The average hold time of Bitcoin on-chain right now is 3.8 years.

    This comes less than a year after the collapse of LUNA (May-22) which sparked a meltdown crisis that ultimately bankrupted hedge fund Three Arrows Capital and sent a wave of contagion across the industry. 

    Things shook further when this contagion claimed crypto lender Celsius in June. The fallen crypto lender disclosed two months before, at the Bitcoin 2022 conference, that it held 150,000 Bitcoin, which would constitute 0.8% of the supply. 

    Unfortunately for investors, court filings by Kirkland & Ellis indicate that the firm has lost roughly 62,000 Bitcoin, and right now it is unclear how many they really held, nor how many the bankrupt firm now holds. 

    Then there was the staggering collapse of FTX in November.

    But despite this,  long-term holders do continue to grow, at least if on-chain metrics are to be trusted. 

    Dwindling supply not supporting price

    But as for the thesis that a dwindling supply will push price up, it has not worked to date. Bitcoin has collapsed while these metrics have all jumped to all-time highs. 

    What happens in the long-term remains to be seen. The advocates aren’t wrong when they reference simple supply and demand. This will undoubtedly help the price, and if long-term holders continue to hold, the liquidity drying up further can only squeeze the price upward. 

    On the other hand, every sale needs a bid order, and these have not been coming in quickly enough over the last two years. As I have written about repeatedly, Bitcoin continues to follow the macro cycle, trading like an extreme-risk asset making a mockery of those who claim it is any sort of inflation hedge. Look no further than its reaction to recent inflation readings and Federal Reserve meetings on interest rate policy for evidence of this. 

    Supply drying up is a good thing. But until Bitcoin sheds its high-risk image, it will continue to trade like a levered bet on the Nasdaq. Every asset needs a bid, people, and in times of uncertainty, the market has shown that Bitcoin is the last thing that investors want to hold. 

    Time will tell if this all changes. 

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  • Bitcoin’s Lightning Network capacity surges to all-time

    Bitcoin’s Lightning Network capacity surges to all-time

    • Lightning Network has reached over 5,490 in Bitcoin payments capacity, an all-time high.
    • Transactions in BTC on the layer-2 payments network have increased roughly 63% since January 2022.
    • The increased Bitcoin micropayments via Lightning Network comes as BTC price retreats below $23k after a great rally to start 2023.

    Lightning Network’s capacity in terms of Bitcoin across payment channels has hit a new all-time high, according to the latest data on usage for this major payment network.

    The Block Research shows the critical layer-2 network, which is built on Bitcoin, has seen its capacity grow to over 5,490 BTC. That’s nearly 160 BTC more than what was observed on 4 February 2023, according to details shared by Lightning Network statistics.

    Lightning Network capacity up 63% since January 2022

    The benefits of the Lightning Network technology, mainly around fast and low-cost micropayments, has increasingly attracted more people. According to the data, Lightning Network’s capacity in BTC terms is up approximately 63% since January 2022.

    Approximately 3,350 bitcoin was recorded in payment channels on the protocol on 1 January last year. From the figures, it’s clear that total network value has declined compared to when Bitcoin price hit an all-time high in November 2021. The value of current Lightning Network capacity in USD is around $128 million – down from more than $216 million when BTC raced to highs of $69,000.

    But as the on-chain metrics for the payment network’s daily usage shows, there has been continuous adoption even as the crypto winter saw crypto prices crash. Bitcoin is currently trading above $22,700 after a brief rally last week ended with bears mounting a wall near $24,000.

    According to data from CoinGecko, BTC price remains roughly 67% off the ATH of $69.044 reached on 10 November 2021. In comparison, (as noted above) LN capacity has increased 63% since January 2022. 

    Find out more about Lightning Network here.

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  • Optimism token OP hits all-time high Bedrock upgrade news

    Optimism token OP hits all-time high Bedrock upgrade news

    • OP has rallied over 30% in the past 24 hours, reaching a new all-time high of $2.97 on Coinbase
    • Optimism is outperforming major coins even as cryptocurrencies rally on Thursday.
    • Gains for Optimism comes amid buying pressure after news of an upgrade proposal planned for activation on 15 March.

    Optimism is rallying again as excitement around the Ethereum layer 2 scaling solution increased following a major news announcement.

    As shown on the 4-hour chart below, OP reached a new all-time high of $2.97 on Coinbase. As of 11:20 am ET on 2 February, the platform’s native token OP was trading at $2.91, still up by more than 32% in the past 24 hours.

    Chart showing Optimism price rally to new all-time high on Coinbase. Source: TradingView.According to data from CoinGecko, the OP token price is up 205% in the past 30 days, outshing major coins. About 75% of the gains have come in the past two weeks as platform’s market capitalization steadily rose to currently stand around $625 million.

    Why OP token price is surging

    Optimism’s gains in the past few hours have come as buying pressure ramped up ahead of what promises to be groundbreaking network upgrade.

    On Wednesday, the Optimism Foundation released a proposal seeking to deploy an upgrade to the protocol’s mainnet. According to the proposal, the upgrade targets improving network performance via the Optimism Collective: Bedrock.

    It is the first major upgrade to the Optimism protocol and brings a rollups architecture to the protocol, with  transaction batching one of the main features highlighting the huge impact the upgrade could have for the blockchain’s performance.

    “This upgrade offers a new level of modularity, simplicity, and Ethereum equivalence for Layer 2 solutions, providing unprecedented performance and functionality,” the Optimism Foundation wrote.

    Improvements set to be added via the Bedrock release include reduced transaction fees, high throughput and improved sync speeds.

    According to the team, the upgrade will not impact most users as the Optimism mainnet is “already EVM-equivalent.” However, some users including those running full and archive nodes have to take action in preparation for the upgrade.

    The Bedrock proposal is expected to go through a two-week voting period, with deployment to the mainnet scheduled for 15 March if it passes.

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