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Justin Sun moves 41.99m SPK to HTX in fresh suspected sell-off

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Justin Sun moves 41.99m SPK to HTX in fresh suspected sell-off

Justin Sun moved 41.99m Spark worth $1.23m from Spark to HTX, adding to roughly 610m SPK in exchange-bound flows since 2025 and renewing sell-pressure and governance worries.

Summary

  • Justin Sun moved 41.99 million SPK, worth about $1.23 million, from Spark to HTX in his latest suspected token sale after a two‑week pause.
  • On-chain data indicate Sun has transferred roughly 610 million SPK to exchanges since September 2025, with an estimated cumulative value of about $19.08 million.
  • The sustained offloading of staking rewards risks adding persistent sell pressure to SPK and intensifying long‑running concerns about Sun’s use of ecosystem tokens.

Justin Sun has resumed large Spark (SPK) withdrawals from Spark, moving 41.99 million tokens worth approximately $1.23 million to his HTX exchange in another suspected sell‑side transaction, according to on-chain data flagged by pseudonymous analyst ai_9684xtpa and relayed by ChainCatcher. The latest transfer follows a roughly two‑week lull in activity, suggesting Sun is again cycling staking rewards or accumulated balances from the Spark protocol into centralized venues rather than compounding them on-chain.

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Since September 2025, Sun-linked wallets have routed around 610 million SPK to exchanges, with an estimated aggregate value near $19.08 million at the time of transfer, ChainCatcher’s running tally shows. While these movements do not prove immediate market sells, the consistent pattern of exchange-bound flows has led analysts and traders to treat them as de facto supply overhang that can cap upside or accelerate drawdowns when liquidity thins.

Pattern of SPK offloads raises pressure on the token

The latest move continues a broader trend of Sun monetizing rewards and ecosystem allocations across projects he influences, echoing earlier scrutiny over his handling of other tokens on networks associated with TRON and HTX. Each fresh SPK transfer into HTX expands the pool of coins that can be market‑sold into bids, potentially dampening spot demand from users who interact with Spark for its lending and staking features rather than for speculative trading.

Traders watching SPK’s order books now have to factor in the possibility of further tranches coming online if Sun maintains his current pace, especially given the roughly eight‑month history of repeated, multi‑million token transfers. For long‑term holders, the concern is less about any single $1.23 million move and more about the signaling effect of a key insider consistently sending rewards off‑platform instead of holding or deploying them inside the Spark ecosystem.

Governance and transparency questions resurface

The repeated flows also sharpen governance questions around how much effective control Sun still exerts over Spark and related assets, even when formal structures appear decentralized on paper. Large, opaque insider movements can erode confidence among smaller holders who lack visibility into Sun’s trading intentions or any internal agreements that might constrain his selling behavior.

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Sun has previously dismissed similar concerns around his trading activity in other ecosystems, arguing that his moves are routine treasury and liquidity management rather than opportunistic dumping. However, the combination of regular SPK transfers to HTX, the cumulative $19.08 million value involved, and the absence of detailed public communication around those flows leaves SPK in the crosshairs whenever broader market sentiment turns risk‑off.

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Iran offers bitcoin-based protection racket for Strait of Hormuz

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Iran offers bitcoin-based protection racket for Strait of Hormuz

Iran is reportedly considering the introduction of a bitcoin (BTC)-based insurance policy for safe passage through the Strait of Hormuz that it believes will make the country $10 billion in revenue. 

That’s according to state-backed news outlet Fars News, which reported on Saturday that the system has been in the works since April. 

The proposed policy is called “Hormuz Safe,” and its website claims it will provide “Iranian shipping companies and cargo owners with fast, verifiable digital insurance — paid via BTC and settled at the speed of the blockchain.” 

Fars News reports that Iran wants to legally control the Strait after the war’s conclusion and commercialise the route to boost its economy. 

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Iran’s Hormuz Safe website emphasises bitcoin as a form of payment. Image shared by Fars News.

Read more: Crypto scams are now a threat in the Strait of Hormuz, report

The outlet reports that, “With this plan, various marine insurance policies and financial liability certificates can be issued, which could generate over $10 billion in revenue for the country.”

Iran has also reportedly created a new government body today to help manage the Strait, while peace talks with the US appear to have come to a standstill. Countries in Europe are also holding talks with Tehran over passage through the Strait.

Iran’s previous BTC toll exploited by scammers

Iran has already demanded that ship owners pay BTC tolls. At the time, officials wrongly implied that the crypto would be free from the restrictions of sanctions.

The US has also sanctioned Iran’s BTC wallets and other state-owned entities, so payments in BTC won’t alter these restrictions. 

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After the first set of tolls were announced, scammers attempted to exploit the news by sending ship masters phony emails pretending to be Iranian authorities and asking for payment. 

One ship may have fallen victim to the scammers as the vessel’s crew, thinking they had paid the toll, was still fired upon by Iranian forces. 

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on XBluesky, and Google News, or subscribe to our YouTube channel.

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Kraken parent Payward's Q1 revenue climbs despite crypto market slump

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Top Democrat on House committee questions Kraken's Federal Reserve account


Co-CEO Arjun Sethi said the firm kept investing through market weakness, leaning on acquisitions and futures growth to offset softer spot trading.

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Vitalik Buterin says AI 'formal verification' could actually make crypto much more secure

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Vitalik Buterin pushes ‘DVT-Lite’ to make validator setup easier


The Ethereum co-founder argued that AI-assisted “formal verification” could become one of the most important tools for cybersecurity in a new blog post.

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Goldman Sachs Dumps XRP and Solana, Cuts Ethereum Exposure by 70%

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Goldman Sachs Dumps XRP and Solana, Cuts Ethereum Exposure by 70%

Goldman Sachs fully exited its XRP and Solana (SOL) spot ETF positions during the first quarter of 2026, ending a brief altcoin push that began just months earlier.

The bank’s latest 13F filing with the Securities and Exchange Commission (SEC) also shows Ethereum (ETH) ETF exposure trimmed by about 70% and Bitcoin (BTC) ETF stakes preserved near $700 million for the period ending March 31.

Goldman Sachs Makes A Strategic Altcoin Retreat

The disclosure marks a sharp reversal from late 2025, when Goldman first appeared as one of the largest institutional holders of spot XRP and Solana ETF products.

Earlier filings showed nearly $154 million spread across Bitwise, Franklin Templeton, Grayscale, and 21Shares XRP funds, plus a smaller Solana position concentrated in Bitwise’s staking ETF and Grayscale’s Solana Trust.

Both positions now sit at zero. Remaining iShares Ethereum Trust (ETHA) holdings stand near $114 million, well below the prior quarter.

The bank kept roughly $690 million in BlackRock’s iShares Bitcoin Trust (IBIT) and about $25 million in Fidelity Wise Origin Bitcoin Fund (FBTC), though both were trimmed by close to 10%.

Beyond ETFs, the firm increased exposure to crypto-linked equities including Circle, Galaxy Digital, and Coinbase. It also pared positions in mining and treasury names such as MicroStrategy, IREN, Bit Digital, and Riot Platforms.

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The shift suggests Goldman is replacing direct token bets with infrastructure plays tied to stablecoin issuance, prime brokerage, and exchange flows.

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A Broader Institutional Pattern

Goldman is not the only major allocator rotating out of crypto funds.

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Harvard University’s endowment cut its IBIT stake by roughly 43% to about $117 million. It also fully closed an $86.8 million Ethereum ETF position it had added only the prior quarter.

Trading firm Jane Street slashed its IBIT holdings by about 71% and FBTC by roughly 60%, then rotated into Ether ETFs.

Emory University exited its small IBIT position entirely, swapping into the Grayscale Bitcoin Mini Trust.

However, not every institution pulled back. Abu Dhabi’s Mubadala increased its IBIT holdings by about 16% to roughly $566 million, while Dartmouth’s endowment opened a small Bitwise Solana Staking ETF position.

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Brown University held its IBIT exposure steady.

Quarterly 13F filings reflect end-of-quarter snapshots and often include market-making or client-driven inventory rather than directional bets.

Still, the volume of altcoin ETF exits tracks the sharp drawdons in XRP and Solana, both down more than 40% year-on-year.

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The Q2 disclosures due in August will show whether the rotation continued or whether institutional appetite for altcoin funds returns.

The post Goldman Sachs Dumps XRP and Solana, Cuts Ethereum Exposure by 70% appeared first on BeInCrypto.

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HIVE buys $58 million Toronto plot for AI facility; shares climb

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HIVE buys $58 million Toronto plot for AI facility; shares climb


The bitcoin mining firm continues on its investment path into AI data centers after raising $115 million to expand its global footprint in the industry.

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Galaxy Receives BitLicense From New York State Department of Financial Services

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Galaxy Receives BitLicense From New York State Department of Financial Services


Galaxy has obtained a BitLicense from the New York State Department of Financial Services, regulatory approval to operate a cryptocurrency business in the state.

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00 UTC Today To Crown The Best Cryptos To Invest In 2026

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00 UTC Today To Crown The Best Cryptos To Invest In 2026

Institutional cross-border payment giant Ripple is officially facing a disruptive challenge from high-throughput Layer 2 protocols engineered for the next generation of retail finance. While legacy tokens command massive market valuations due to institutional backing, savvy market participants are executing a major liquidity rotation into decentralized networks that fix immediate, real-world utility gaps. Financial ecosystems combining high-reward incentive architectures with seamless global utility are rapidly shifting to the forefront of the digital sector. Analyzing the structural metrics of automated payment platforms reveals exactly why these advanced networks are positioning themselves at the absolute top of the best cryptos to invest in 2026.

Act immediately to lock in your DOGEBALL position at the historic low price of $0.0005 before the timed presale window closes tightly at 21:00 UTC today and prices automatically spike.

The Brutal Multimillion Dollar Cost of Hesitation: How Early Ripple Investors Locked In Generational Wealth While You Watched From The Sidelines

The historical trajectory of early layer-1 token allocations reveals the devastating financial cost of waiting for mainstream validation. When the foundation of Ripple was first introduced to early participants, native allocations traded for fractions of a single cent before violently compounding by more than 36000% at its historical peak. Skeptics heavily doubted the network’s specialized consensus protocol and its targeted cross-border corporate strategy, yet the action-takers who recognized the payment framework early unlocked life-changing fortunes. That iconic cycle left a permanent mark on the industry, proving that accessing secure transaction utility prior to public listing is the single most effective way to secure exponential portfolio growth.

Letting a definitive, massive window of opportunity slide past because of minor hesitation is a mistake that most retail participants deeply regret. The fluid landscape of blockchain infrastructure continuously introduces secondary chances for disciplined capital to capture elite infrastructure tokens at deep, ground-floor entry levels. Accessing these institutional-grade payment rails at deep developer-level discounts is available right now, but the current opportunity will vanish forever the moment the automated timed contract moves to the next pricing stage.

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DOGEBALL Infrastructure: Complete Layer 2 Dominance Combined With Zero Fee Global PayFi Offramps

The DOGEBALL network delivers an advanced, high-velocity infrastructure by deploying a dedicated custom Ethereum Layer 2 scaling engine known natively as DOGECHAIN. This custom network achieves sub-second transaction finality, completely removes expensive gas fee bottlenecks, and ensures total EVM compatibility for decentralized application developers. By integrating a high-reward GameFi environment containing a $1M prize pool directly into a global utility architecture, the ecosystem provides instant rewards, high-frequency transfers, and secure payments backed by a 100% audited smart contract framework.

Global capital allocations are surging into this crypto presale because of the practical transactional utility driven by the DOGEPAY application. This proprietary software allows users to transmit digital assets worldwide while enabling the receiver to collect native fiat directly into their local bank account across 30+ global currencies with zero FX fees. By completely bypassing legacy intermediaries like standard retail banks, PayPal, or Wise, the network secures unmatched transaction speeds. This corporate-grade execution cements the protocol’s position as one of the best cryptos to invest in 2026.

The Final Clock Is Ticking Rapidly: Secure Your Targeted 2900% ROI Matrix Before Prices Explode At 21:00 UTC Today

The platform is experiencing unprecedented traction during its third presale stage, securing over 288K+ in direct funding from more than 1000+ active participants. To optimize long-term scarcity, the development team permanently burned 4bn tokens on Monday 11th May 2026, removing 20% of the entire presale allocation from the market. The project features an accelerated timed presale consisting of 20 distinct stages, with each window lasting a maximum of 7 days before an automatic price spike. All unsold tokens from every stage are instantly burned, putting intense pressure on buyers to act immediately before the available supply shrinks again.

With the current entry price locked at just $0.0005 and the contractually guaranteed exchange launch price fixed at $0.015, early participants are positioned for a clear 2900% ROI prior to public trading. Every stage features an absolute price increase, meaning your potential profit margin drops the longer you wait. Capitalize on this extended window right now, apply your active deposit bonus code to claim your extra tokens, and secure your position before the next automated stage transition triggers at 21:00 UTC today.

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Step By Step Guide To Acquire Your DOGEBALL Allocation Prior To The Next Automated Price Surge

Securing your position in the ongoing crypto presale requires only a few seamless, highly secure operational steps:

  1. Configure an EVM-compatible Web3 wallet such as MetaMask, Trust Wallet, or Coinbase Wallet on your device.
  2. Fund your wallet balance with Ethereum (ETH), Polygon (MATIC), or USDT from your preferred digital asset exchange.
  3. Navigate directly to the secure official website dashboard to locate the active Timed Presale Widget.
  4. Connect your Web3 wallet, choose your desired payment currency, and enter your target allocation amount.
  5. Apply your active bonus code to claim your extra tokens, authorize the transaction, and safely secure your tokens before 21:00 UTC today.

Conclusion: Locking In Ground Floor Multipliers Before High Utility Infrastructure Reaches The Mainstream

A structural evaluation of legacy market leaders like XRP confirms that the absolute highest wealth-generation velocity belongs to early-stage utility networks. While mature layer-1 assets offer highly stable corporate frameworks, their saturated multi-billion-dollar market caps make it mathematically impossible to achieve short-term exponential multipliers. Conversely, the DOGEBALL crypto presale 2026 provides a unique opportunity by combining high-velocity gaming incentives with a frictionless global remittance engine. Entering the presale before the official exchange launch in partnership with elite Web3 development firms allows disciplined buyers to maximize their upside potential within one of the best cryptos to invest in 2026.

Find Out More Information Here

Website: https://dogeballtoken.com/

X: https://x.com/dogeballtoken

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Telegram Chat: https://t.me/dogeballtoken

FAQs for the Best Cryptos to Invest in 2026

Which crypto has the best future for 2026?

High-utility infrastructure protocols built on dedicated scaling layers possess the strongest economic outlook. The DOGEBALL crypto presale 2026 stands out among the best cryptos to invest in 2026 due to its native Layer 2 DOGECHAIN architecture, zero FX fees, and direct fiat bank offramps.

Which crypto will go 1000x in 2026?

Low-cap protocols that offer immediate real-world transactional utility present the highest growth velocity in the digital space. DOGEBALL features a guaranteed 2900% launch trajectory from $0.0005 to its exchange listing price of $0.015, making it a top asset among the best cryptos to invest in 2026.

Which crypto makes me rich in 2026?

Allocating capital to undervalued, hyper-deflationary ecosystems like the DOGEBALL crypto presale 2026 yields massive strategic advantages. Its historic 20% token burn, automated 20-stage timed price increments, and specialized Web3 launch partnership position it among the best cryptos to invest in 2026.

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Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

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Deploi Enables Private Credit Issuance on Polygon with Nasdaq CSD ISINs

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Crypto Breaking News

Deploi, the Nordic-led platform building the infrastructure for digital private credit, unveiled a direct issuance framework on Polygon, following ISIN allocations from Nasdaq CSD for its inaugural UK Consumer Credit Notes. The first issuance, Series 2026/CON/001, enables regulated digital debt issuance with individual notes up to EUR 5 million. This placement is a cornerstone of Deploi’s plan for a EUR 1 billion note programme in 2026, with potential capacity to scale to as much as EUR 5 billion once its global issuance infrastructure is completed by the end of Q3 2026. Assetera has already lined up roughly EUR 100 million in additional issuance over the next six months, underscoring early institutional demand for regulated, blockchain-native private credit products.

Deploi’s mission is to modernize the private credit market by moving away from slow, manual fund structures toward programmable issuance, settlement, servicing, and risk management rails that are purpose-built for today’s institutional investors. In remarks accompanying the launch, founder Oskars Jepsis framed the effort as a long-overdue modernization of a market that has historically suffered from fragmentation and opacity.

The legacy private credit model is operationally outdated. Investors and lending partners increasingly expect faster execution, greater transparency, and more flexible access to credit opportunities. Deploi is building the infrastructure to replace fragmented, manual processes with scalable digital issuance and settlement rails purpose-built for modern private credit markets.

Deploi’s issuance and registry infrastructure is anchored on EVM-enabled chains, with Polygon serving as the initial settlement layer ahead of planned expansion to Canton Network infrastructure. Notes are issued and settled through Assetera, the EU-regulated DLT trading platform licensed under MiFID II, enabling compliant access for European investors.

Private credit has long been inaccessible to most European investors due to structural barriers — high minimums, opacity, and illiquidity. By providing the regulated infrastructure for Deploi’s instruments, Assetera removes those barriers while maintaining full MiFID II compliance. This partnership demonstrates precisely what regulated DLT infrastructure makes possible: institutional-grade yield products, compliantly distributed at scale across Europe.

Private credit is a massive market, but it still runs on outdated infrastructure. What Deploi is doing with direct issuance and bringing this onchain with Polygon is a clear step toward making these markets more efficient, transparent, and easier to access for institutional participants.

Key takeaways

  • Direct issuance on Polygon: Series 2026/CON/001 marks the first regulated digital debt issuance for Deploi, with notes up to EUR 5 million and a broader EUR 1 billion programme planned for 2026, potentially expanding to EUR 5 billion after the infrastructure is completed by the end of Q3 2026.
  • Regulated, EU-facing infrastructure: Assetera acts as Deploi’s licensed trading and settlement venue under MiFID II, while the on-chain registry is anchored to Polygon. Canton Network is planned for future connectivity.
  • Early demand and pipeline: Assetera has EUR 100 million in additional issuance lined up over the next six months, reflecting institutional appetite for regulated, blockchain-native private credit.
  • Investor access and yields: Target yields are expected to range from roughly 6% to 18%, depending on the underlying asset structure, with buy-side engagement from digital-asset and yield-focused institutions.
  • Operational modernization: The project aims to replace fragmented, manual processes with scalable, programmable issuance and settlement rails, offering greater transparency and speed for private credit markets.

Operational backbone and where it fits in the market

Deploi’s framework positions itself at the intersection of private credit origination and regulated digital infrastructure. By combining on-chain issuance, a regulated trading venue, and a robust registry, the company seeks to address long-standing frictions in private credit — notably high minimums, limited transparency, and illiquidity for European investors. The first live product targets UK consumer credit, with notes issued in tranches of up to EUR 5 million. This modular approach enables a staged roll-out across additional asset classes as the global issuance backbone becomes fully operational.

Infrastructure and settlement: a regulated, cross-border path

Anchoring the system on Polygon provides the initial settlement layer, while Canton Network is slated as a later expansion to enable broader interoperability across private markets. Assetera’s role as a MiFID II-compliant trading and settlement venue ensures that institutional and European buyers can access these digital instruments within a familiar regulatory framework. The integration promises faster settlement cycles, improved transparency, and auditable on-chain records that are still legally enforceable in regulated markets.

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What the market is watching next

Investors will be watching two intertwined developments: first, the pace at which Deploi scales its 2026 EUR 1 billion programme and whether the infrastructure can handle larger, multi-asset private-credit issuance; second, the breadth of adoption among European institutions as regulatory-compliant, blockchain-native products become more commonplace. The EUR 100 million pipeline with Assetera is an early signal, but the true test will be expansion beyond UK consumer credit and into diverse private-credit asset classes while maintaining MiFID II compliance and enforceability across jurisdictions.

Roadmap and near-term milestones

Deploi signaled that its global issuance infrastructure is targeted for completion by the end of Q3 2026, a milestone that would unlock greater issuance capacity and enable broader cross-border distribution. As the platform scales, industry observers will look for progress on expanding settlement rails to Canton Network, deeper integration with EU-regulated trading venues, and continued engagement with institutional buyers seeking regulated, yield-generating private-credit opportunities.

Deploi describes its mission as delivering a more efficient, transparent, and scalable debt capital market for private credit. If the early traction sustains, the combination of regulated access, on-chain settlement, and a scalable issuance framework could recalibrate how institutional players access private-credit yield in Europe and beyond.

Readers should watch for updates on additional issuances, shifts in yield mechanics as assets vary, and broader regulatory developments that could influence the pace and scope of adoption for blockchain-native private credit infrastructure.

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Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Bitcoin (BTC) Recovery Unlikely Until Toxic Supply Is Absorbed: Data

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Bitcoin (BTC) plunged below $77,000 on Monday following a fresh round of threats directed at Iran by US President Donald Trump. Panic selling is accelerating across the market as major profitability metrics drop below critical levels.

New data now suggests that a rapid V-shaped recovery remains unlikely.

Deepening Bitcoin Panic Selling

Bitcoin’s latest decline is developing into a broader market crisis rather than a routine short-term correction, as on-chain data points to a cascading sell-off driven by leverage liquidations and growing fear across the spot market. According to CryptoQuant data, long-term holders who accumulated Bitcoin between six and 12 months ago are now under heavy pressure, as their average realized entry price sits near $110,851.

Following the recent market drop, many of these investors moved into deep unrealized losses, triggering a wave of exchange inflows since May 14.

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The crypto analytics platform’s stats reveal that the Spent Output Age Bands (SOAB) ratio for 6-12 month coins surged to 10.54%, which is far above its normal level below 1%, and indicated large-scale capitulation from long-term holders. Such spikes have historically reflected investors realizing large losses and exiting positions, which ends up increasing spot-market selling pressure.

The weakness then spread to short-term traders. While most exchange inflows typically come from coins held for less than one day, profitability metrics showed increasing panic-driven selling activity. On May 16, the Short-Term Holder SOPR fell to 0.994 while adjusted SOPR dropped to 0.996, both below the 1.0 level that usually separates profit-taking from loss realization.

Even on May 17, STH-SOPR remained weak at 0.999. CryptoQuant said this confirms that many short-term investors are now selling at losses rather than taking profits. The firm warned that a quick V-shaped recovery remains unlikely until “toxic” supply is absorbed and market sentiment stabilizes.

Deeper Correction Ahead

The growing market stress has also strengthened bearish views among several crypto analysts. Doctor Profit, for one, warned yet again that a major correction may be approaching soon.

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Mr. Wall Street also said Bitcoin could see a much deeper decline after its recent 10% pullback. The commentator claimed that bullish sentiment has already faded and repeated his view that the crypto asset may eventually drop to the $45,000 level.

The post Bitcoin (BTC) Recovery Unlikely Until Toxic Supply Is Absorbed: Data appeared first on CryptoPotato.

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Ex-OpenAI's Leopold Aschenbrenner bets big on crypto miners for his $13.6B AI play

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Ex-OpenAI's Leopold Aschenbrenner bets big on crypto miners for his $13.6B AI play


Aschenbrenner is shorting Nvidia and AMD in favor of bitcoin miners that own the electricity and data centers needed to fuel the next phase of the AI boom.

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