Kategorie: Crypto News

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Arthur Hayes-linked wallet bags $2M worth of AAVE and LDO in an OTC deal

  • An address possibly linked to a BitMEX co-founder has received DeFi tokens worth $2.05 million.
  • The transaction involved 3,033 AAVE and 1.1253 million LIDO.
  • Flowdesk sent the assets, suggesting a potential over-the-counter purchase.

The altcoin narrative is gaining steam as Ethereum starts to outperform the markets.

ETH, SOL, and XRP surged up to 10% in the past 24 hours while the largest cryptocurrency by value remained calm above $118,600.

Amidst the shifting trends, crypto sleuths observed an interesting transaction linked to a wallet believed to be that of BitMEX co-founder Arthur Hayes.

The address received 3,033.14 AAVE and 1.1253 million LIDO, worth $2.05 million, from Flowdesk, a trading company.

This is more than an average transaction.

The timing, size, and parties involved have triggered debates within the cryptocurrency community.

Is Arthur Hayes accumulating DeFi blue chip tokens in anticipation of an imminent bull run?

Flowdesk’s role suggests an OTC deal

The source of the transferred assets added to the curiosity.

Flowdesk is known for handling massive transactions for wealthy individuals or institutions.

The fact that the wallets received the tokens directly from Flowdesk indicates an over-the-counter (OTC) deal.

This option allows the buyer to evade slippage and maintain privacy than using public exchanges.

Participants often opt for OTC deals to purchase or offload enormous amounts of digital assets without impacting market prices.

Moreover, individuals use over-the-counter to buy cryptocurrencies when preparing to hold them for the long term.

Why the two altcoins

The purchase wasn’t a random pick. AAVE and LIDO are among the most reputable DeFi tokens.

AAVE is among the earliest and most trusted lending protocols.

It is currently the second-largest business on the Ethereum blockchain, according to total value locked, surpassing Circle the previous week.

Aave’s multi-chain plans and upcoming V4 upgrade continue to grab the community’s attention.

On the other side, Lido is a dominant player in the Ethereum staking ecosystem.

It allows individuals to stake Ether while providing liquidity via stETH.

The LIS (Lido Impact Staking) launched early this year to transform sustainable funding for social impact projects.

AAVE price outlook

The alt trades at $325 after gaining more than 10% in the past week.

While it reflects weakness after a 1.15% dip in the past day, possibly due to profit-taking, AAVE’s bullish structure remains intact.

Renowned crypto analyst Javon Marks predicts massive moves to $628, translating to an over 90% surge from the current price.

He believes AAVE could extend to $1,200 with broad market bull runs.

LDO set for 50% surge

Lido DAO’s native coin exhibited a bullish outlook after gaining more than 4.6% in the past day.

Its soaring daily trading volume signals magnified interest in the altcoin.

LDO trades at $0.9435 after a 20% surge in the past seven days.

It tests an immediate resistance level between $0.95 and $1.00, according to analyst CW.

The digital coin secured a reliable footing at $0.66 – $0.72, hinting at stable performances.

With the next sell wall at $1.4, LDO holders can brace for nearly 50% gains in the near term.

The prevailing crypto market sentiments support LDO and AAVE’s bullish trajectories.

The post Arthur Hayes-linked wallet bags $2M worth of AAVE and LDO in an OTC deal appeared first on CoinJournal.

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Ethereum price hits its six-month high on record ETF inflows

  • The strength in Ethereum has extended to the broader altcoin market.
  • The token had touched an intraday high of $3,463 earlier in the day.
  • The rally came as nine US-listed spot Ethereum ETFs saw their largest combined daily net inflow on record Wednesday.

Ethereum rallied sharply over the past 24 hours, breaking above $3,400 for the first time since mid-January as record inflows into spot Ether exchange-traded funds (ETFs) and rising institutional accumulation reinforced bullish sentiment.

Ether was trading at $3,436 early Thursday, up 8.4% in the past 24 hours.

The token had touched an intraday high of $3,463 earlier in the day.

The rally came as nine US-listed spot Ethereum ETFs saw their largest combined daily net inflow on record Wednesday, totalling $726.74 million, according to data from Farside Investors.

BlackRock’s iShares Ethereum Trust (ETHA) led the inflows with $499 million, followed by Fidelity’s FETH with $113 million.

That total surpasses the previous record of $428 million set on December 5, 2024 — a nearly 70% jump.

The surge in buying pushed total net inflows for July to $2.27 billion, making it the best month since the ETFs were launched a year ago.

US spot Ether ETFs now collectively hold over 5 million ETH — more than 4% of the circulating supply.

On Wednesday alone, ETFs absorbed nearly 107 times the ETH issued by the network, according to Ultra Sound Money.

Interest in ETH is up

Institutional interest is also being reflected in direct ETH holdings by corporate treasuries.

Strategic ETH Reserve data shows that treasuries now hold over $5.33 billion in ETH, equivalent to 1.33% of the total supply.

Over $1.6 billion worth of ETH was added by corporations in June alone.

One of the most aggressive buyers has been SharpLink Gaming, which purchased an additional $68 million worth of ETH in the past 24 hours.

Over the last eight days, the firm has acquired $343 million in ETH, according to blockchain analytics platform Lookonchain.

Separately, World Liberty Financial — a firm linked to US President Donald Trump — added another $5 million in ETH on Wednesday at a price of $3,266, above its historical average purchase range from November 2024 to March 2025.

BitMine Immersion Technologies, chaired by Fundstrat’s Tom Lee, disclosed that its ETH holdings have now exceeded $500 million.

Altcoin market follows ETH’s lead

The strength in Ethereum has extended to the broader altcoin market, with several tokens recording gains amid renewed risk appetite in crypto.

The current momentum in ETH — driven by a mix of spot ETF demand, treasury accumulation, and supply absorption — has positioned the asset for further upside, provided market conditions remain favorable.

In the past 24 hours, several major altcoins have outperformed Bitcoin, which posted a modest gain of just 0.7%.

XRP was one of the leaders of the rally with a sharp 7.6% rise, followed by Dogecoin, which climbed 6.9%.

Solana advanced 5.2%, BNB gained 3.4%, Tron rose 3.2%, and Cardano added 3.5%.

The post Ethereum price hits its six-month high on record ETF inflows appeared first on CoinJournal.

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Fartcoin targets $1.65 as Open Interest hits $1 billion

Key takeaways

  • FARTCOIN is up 19% in the last 24 hours and now trades above $1.4,
  • The coin is targeting the $1.65 high as open Open Interest hits $1 billion.

FARTCOIN surges 19% as memecoins continue to lead market charge

The cryptocurrency market has continued its explosive start this week, with memecoins leading the charge. FLOKI is the best performer among the top 100 cryptocurrencies by market cap, while other memecoins like DOGE, SHIB, BONK, TRUMP, and FARTCOIN are also in the green.

Fartcoin is up 19% in the last 24 hours, making it one of the top performers among the leading 100 cryptocurrencies. The rally allowed FARTCOIN to hit the $1.45 mark. Its rally is fueled by the Open Interest (OI) hitting $1 billion. Open Interest (OI) refers to the total value of open perpetual derivative contracts, serving as a direct indicator of traders’ interest. 

Data obtained from CoinGlass revealed that the Fartcoin Open Interest reached a new all-time high of $1.05 billion, up from $802.60 million on Wednesday. The rising Open Interest suggests growing interest in the memecoin and could push its price to new highs.

FARTCOIN eyes $1.65, with January high of $2.61 also in target

The FARTCOIN/USD 4-hour chart is extremely bullish and efficient thanks to the meme coin’s ongoing rally. The technical indicators also suggest that FARTCOIN could rally higher in the near term.

The Relative Strength Index of 62 shows that FARTCOIN could be heading into the overbought region if the buying spree continues. The MACD lines are also in the positive zone, suggesting a bullish bias.

FARTCOIN/USD 4H Chart

Fartcoin nears the 78.6% Fibonacci retracement level at $1.56, drawn from the $2.61 peak of January 19 to the low of $0.19 from March 10. If the daily candle closes above the $1.5 mark, FARTCOIN could surge past the $1.65 resistance level in the coming hours. However, it would need the help of the broader crypto market or growing institutional demand to rally towards the all-time high of $2.61. 

On the flipside, failure to build momentum around $1.5 could see FARTCOIN test the TLQ level at $1.18. The bulls would likely defend July’s low of $1.002 as it serves as a strong support for continuation.

The post Fartcoin targets $1.65 as Open Interest hits $1 billion appeared first on CoinJournal.

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Bitcoin trades near $119K after new all-time high; Coinbase rebrands wallet to ‘Base App’

Bitcoin is holding steady above the $118,800 mark as the market digests its recent powerful rally to a new all-time high of over $122,000.

While on-chain data now indicates that the first wave of heavy profit-taking has begun, particularly among short-term holders sitting on significant gains, some analysts believe that historical patterns still suggest room for another push higher, though they are also warning that “overheating” signals are beginning to flash.

In a recent report, on-chain analytics firm Glassnode highlighted that “short-term holders are now sitting on significant unrealized profits,” a condition that is pushing key indicators “towards overheated territory.”

The Short-Term Holder Relative Unrealized Profit metric recently hit 15.4%, breaching a key statistical threshold (+1 standard deviation) before cooling slightly. Historically, this level “often marks the beginning of top formation,” according to Glassnode.

The firm also pointed to the Realized Profit to Loss Ratio, which recently spiked to a staggering 39.8, “well above the +2 standard deviation threshold,” signaling a period of intense profit-taking from successful traders.

Although this ratio has since declined to a more moderate 7.3, the elevated reading remains consistent with behavior typically seen in the late stages of a bull market.

“So far, both the Percent of Spent Volume in Profit and the Realized Profit to Loss Ratio have signaled the first wave of excessive profit-taking,” the report concluded.

While this doesn’t necessarily mark a definitive market top, Glassnode cautions that “such top formations tend to unfold across multiple waves,” with the next major resistance level for Bitcoin projected to be around the $130,000 mark.

The great rotation: traders move into altcoins

As Bitcoin’s near-term upside appears increasingly constrained by this profit-taking pressure, some traders are beginning to rotate their capital into major altcoins.

Ethereum (ETH) surged an impressive 7.5% in the past 24 hours, outpacing Bitcoin and breaking out of a recent consolidation phase.

Analysts have pointed to the recent advancement of the GENIUS Act, a stablecoin regulation bill, as a potential catalyst for ETH’s strong performance.

Solana (SOL) also saw a significant jump, up 5%, buoyed by fresh on-chain data showing that Galaxy Digital had accumulated $55 million worth of SOL within a tight two-hour window, withdrawing the tokens from multiple centralized exchanges.

This rotation into major altcoins like ETH and SOL suggests that while Bitcoin’s broader market structure remains intact, traders are seeking opportunities for higher returns in other parts of the crypto ecosystem.

Coinbase’s big rebrand: from ‘Wallet’ to ‘Base App’

In a significant development for the broader crypto ecosystem, Coinbase has officially rebranded its popular Wallet product as the ‘Base App’.

This move confirms speculation that had been swirling since the company scrubbed its X profile earlier this week.

The rebranding positions the app as a central gateway into the burgeoning Base ecosystem, which is now being pitched as a full-stack, on-chain platform designed for mainstream adoption.

The rebrand was officially announced during Coinbase’s “A New Day One” event, which also unveiled a broader vision for the Base ecosystem, now built around three key pillars: the existing Layer-2 network, Base Chain; a new developer toolkit suite dubbed Base Build; and the newly launched Base App.

Unlike its predecessor, the Coinbase Wallet, the new Base App is designed to be much more than just a place to store crypto.

It will integrate chat functionalities, payments, trading, and a mini-app marketplace that supports a wide range of social and financial experiences.

This is not Coinbase’s first attempt at a wallet makeover (long-time crypto users will remember its original wallet, “Toshi”), but it is arguably its most ambitious.

With the Base ecosystem increasingly distancing itself from the parent Coinbase brand, the new app appears designed to emphasize Base’s distinct identity as a more decentralized, open ecosystem—one that is anchored in the core values of crypto but packaged in a user-friendly way for the everyday consumer.

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US House revives Crypto Week agenda, advances three crypto bills

  • Lawmakers voted 215 to 211 to advance the Guiding and Establishing National Innovation for US Stablecoins Act.
  • The successful Wednesday votes marked a recovery for Republican leadership after Tuesday’s unexpected setback.
  • Many House Democrats continue to push against all three bills.

The US House of Representatives voted narrowly on Wednesday to resume its push on a slate of high-profile cryptocurrency bills, reviving what Republican lawmakers have dubbed “Crypto Week” after the initial attempt to advance the legislation collapsed earlier in the week.

Lawmakers voted 215 to 211 to advance the Guiding and Establishing National Innovation for US Stablecoins Act — or GENIUS Act — which establishes a regulatory framework for US dollar-pegged stablecoins and has already cleared the Senate.

If passed in the House later this week, the bill would head to President Donald Trump’s desk for his signature.

In a separate vote, the House also agreed to move forward with the Digital Asset Market Clarity Act, commonly referred to as the Clarity Act, which would delineate regulatory responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for overseeing digital assets.

A bill aimed at blocking the Federal Reserve from issuing a central bank digital currency (CBDC) directly to individuals will also move to a final vote.

Tuesday’s vote collapsed amid GOP defections

The successful Wednesday votes marked a recovery for Republican leadership after Tuesday’s unexpected setback, when the House voted 196 to 223 against even considering the three bills.

That vote saw a bloc of Republicans defect over concerns about the CBDC provisions in the GENIUS Act.

According to reporting from The Hill, GOP Reps. Marjorie Taylor Greene, Chip Roy, Michael Cloud, and Anna Paulina Luna were among those who voted no.

Greene cited lingering concerns that the GENIUS Act might provide a legal foundation for the Fed to roll out a digital dollar — a claim that has been denied by the bill’s authors.

Following the failed vote, President Trump intervened directly, telling reporters late Tuesday that “key lawmakers” had agreed to support the bill.

His comments were widely interpreted as helping to unify GOP ranks ahead of Wednesday’s procedural votes.

Democrats oppose measures, call them dangerous

No Democrats supported moving forward with any of the bills, setting the stage for a partisan showdown as the legislation moves toward final passage votes.

In a press conference earlier on Wednesday, House Financial Services Committee ranking member Maxine Waters warned that both the GENIUS and Clarity Acts would dangerously deregulate the crypto sector.

“These bills are a gift-wrapped invitation for Trump to continue his full-scale crypto con,” Waters said, calling the legislation “two of the most dangerous pieces of legislation” proposed during the current session.

Democrats have also voiced concerns that the bills would undermine consumer protections and erode the Fed’s authority, especially as Republicans seek to ban the issuance of a Fed-backed digital dollar.

The post US House revives Crypto Week agenda, advances three crypto bills appeared first on CoinJournal.