A dormant Bitcoin wallet containing 300 BTC, valued at nearly $30 million, has reawakened after over a decade of inactivity, sparking speculation across the crypto community. The wallet, believed to have been inactive since late 2011 or early 2012, initiated a transaction earlier this week, transferring 61 BTC worth approximately $6 million. The remaining 239 BTC, still residing in the address, are valued at around $24 million. While no funds have yet been sent to known exchange addresses, the move has reignited debate over the behavior of early Bitcoin adopters and the broader implications for the market. Blockchain analytics platform Whale Alert flagged the transaction Sunday, noting the address had shown no activity for over 11 years. These so-called “Satoshi-era” wallets, often attributed to early miners or adopters, contain coins acquired when Bitcoin traded below $10. With today’s price hovering just under $105,000, the owner of this particular wallet is sitting on a return of more than 23,000%. Notably, the activity coincided with heightened market volatility. Following the transfer, Bitcoin’s price dropped sharply, breaking key support zones around $100,700 and testing a local low of $98,445 before recovering slightly and strongly on Monday. Market analysts suggest that while the transfer did not trigger a mass panic, it has prompted traders to exercise caution. “These old-school moves can jolt short-term sentiment, with traders watching for potential dump or just a stealthy rebalance,” said one observer on X. The mystery behind the motivation remains. Some speculate the holder could be preparing to liquidate a portion of their holdings, while others suggest it may be part of a larger asset reallocation strategy. Still, the fact that most of the coins remain untouched has offered some relief to investors wary of a sudden flood of supply. This isn’t the only dormant whale to resurface recently. On May 13, another post-Satoshi-era wallet holding 300 BTC, valued at over $31 million, became active after 11.1 years. And in April, a staggering 1,078 BTC worth more than $100 million was moved from a 2013 wallet, underscoring the growing trend of long-silent addresses stirring as Bitcoin consolidates near all-time highs. Meanwhile, while retail traders continue to scale back, recent data from Santiment shows that whales and sharks, wallets between 10 and 10,000 BTC, have collectively acquired over 83,000 BTC in the past 30 days. On June 20, Santiment further highlighted how wallets with over 10 BTC increased by 231 in just 10 days. In contrast, smaller wallets holding between 0.001 and 10 BTC declined by 37,465 over the same period. With Bitcoin trading slightly above $107,391 at press time, this accumulation, paired with the reactivations of ancient wallets, highlights how BTC ownership is changing and how these changes can quickly influence market mood and behavior.
UK web company's Bitcoin strategy delivers 6,400% stock gains, sparking copycat wave as CEO claims "most successful IPO in UK history."
The Chair of the Federal Reserve says financial markets are dealing with a unique set of circumstances that may be contributing to dollar weakness. In a recent testimony to the US Senate, Powell tells members of the Senate’s banking panel that while the US dollar appears to be doing better, the Fed has yet to formally form an opinion on the matter. “I would go back to the thought that markets have been digesting an unusually challenging set of circumstances and have reacted the way they reacted. The dollar has kind of stabilized just now, in fact it’s moved back up in the last couple of weeks a bit. There are plenty of people who are still writing that the dollar is still overvalued, we don’t have a view on that of course… I don’t really have an official view I’d like to share, [but] I think there are possible explanations…one of which is that people still feel the dollar is highly valued, but we’ll see.” Touching on the subject of tariffs, Powell says markets are in uncharted territory since tariffs have only ever been going down for many decades. “We’ve been going through a long period where tariffs have been going down. Since World War 2 really, it’s been a process of lowering tariffs globally… There isn’t a lot of modern learning on that. One of the reasons [now] is so challenging is that we don’t have modern precedent.” Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Fed Chair Jerome Powell Addresses US Dollar Weakness, Says Markets Are in ‘Unusually Challenging’ Circumstances appeared first on The Daily Hodl .
Moca Network, Animoca Brands’ identity-focused ecosystem, has announced Moca Chain, a new Layer 1 blockchain network designed specifically for identity and data management. According to the official statement, this chain enables individual control of personal identities with features such as decentralized storage, cross-chain compatibility, and privacy-preserving verification with zero-knowledge proofs (ZKP). The testnet is planned to be launched in the third quarter of 2025, while the mainnet launch will be in the last quarter of 2025. Moca Chain’s native altcoin, MOCA Coin, will be used for gas fees and validator transactions. Related News: GameStop, One of the Most Talked-About Companies in the US, Makes Another Move to Purchase a Massive Amount of Bitcoin Moca Chain aims to enable user-centric applications and identity protocols to be built on a common user and data network. The usage areas of the Moca token to be released are introduced as follows: Validator Staking: Securing the network and processing identity transactions. Gas Fees: On-chain transaction costs (identification, verification, etc.) Verification Fees: Fee paid to verify proof of identity. Data Storage: Reusability of identity documents Identity Oracle: Cross-chain verification bridge zkTLS based data generation Animoca Brands is known as the company behind altcoins like EDU and SAND. *This is not investment advice. Continue Reading: Company with Two Altcoins Listed on Binance Announces New Altcoin to Be Launched – Here’s the Date and Details
Strategy stock price could be on the verge of a strong bullish breakout as odds of Bitcoin hitting an all-time high rose on Polymarket. MSTR stock was trading at $377 on Wednesday, a few points above this week’s low of $360. It has jumped nearly 70% from its lowest level this year. Strategy stock technical analysis points to a surge The daily chart shows that the MSTR stock price has been in a tight range since May. It has remained above the 100-day and 50-day Exponential Moving Averages, which have provided it with substantial support. Further, Strategy has formed a bullish pennant pattern, which often leads to additional gains. This pattern is composed of a vertical line and a symmetrical triangle, with a breakout occurring when the two lines near their confluence level. The profit target in a bullish pennant is established by first measuring the length of the flagpole and then extrapolating the same distance from the breakout point. In this case, the flagpole’s length is $200—$420 minus $230. The breakout point is $385, bringing the target price to $585, up 52% from the current level. A drop below the support at $342 will invalidate the bullish forecast. This price is the neckline of the double-bottom pattern at $230. MSTR stock price chart | Source: TradingView Odds of Bitcoin price hitting all-time high are rising The main catalyst for the Strategy stock price is the odds of Bitcoin ( BTC ) hitting a record high before October have jumped to 81% on Polymarket . Such a move would be bullish for Strategy because it holds 592,345 Bitcoins currently valued at over $63 billion. You might also like: Can Sei price keep climbing after Circle’s backing and ETF buzz? Bitcoin has strong bullish fundamentals and technicals. For example, Bitcoin supply on exchanges and over-the-counter marketplaces has crashed to the lowest level in years. Bitcoin ETF demand has jumped, with inflows happening in the last eleven consecutive days. These funds have had a cumulative inflow of $47.9 billion since January last year, with BlackRock’s IBIT having over $72 billion in assets. Technically, Bitcoin price has formed a cup-and-handle pattern, a popular continuation setup. This pattern consists of a rounded bottom followed by some consolidation, which is currently underway. Therefore, Bitcoin is likely to break out and potentially rise above $140,000 in the near term. Bitcoin price chart | Source: crypto.news This price target is based on the cup-and-handle pattern, which has a depth of about 30%. Measuring the same distance from the cup’s upper side yields a target price of $141,000. You might also like: Here’s why IOTA price crashed after the Rebased upgrade
The crypto market is defined by cycles of innovation, early accumulation, and disruptive momentum. As 2025 unfolds, MAGACOIN FINANCE has emerged as one of the year’s fastest moving pre-launch candidates. While Bitcoin and Ethereum dominate headlines, traders are paying attention to this rising contender. Meanwhile, Solana holders are eyeing VeChain as a strong diversification play grounded in real-world use cases. MAGACOIN FINANCE: The Early-Stage Powerhouse MAGACOIN FINANCE is capturing headlines with its rapid presale success—raising over $10 million and selling out phases faster than most established altcoins. The project combines meme appeal with technical credibility: a fully audited smart contract via HashEx , capped supply of 170 billion tokens , and a no-VC structure that appeals to both retail and institutional investors. Its community-first strategy, transparent rollout, and surging demand have made it one of the most closely watched early-stage projects of 2025. For many traders, it evokes the early momentum seen in past generational tokens—fueling speculation it could outperform legacy giants by percentage return. Bitcoin: The Benchmark with Modest Upside Bitcoin has recently pushed past $111,000 , driven by ETF adoption and institutional inflows. While it remains the cornerstone of the crypto market, many long-time BTC investors are allocating a portion of their portfolios to high-upside projects like MAGACOIN FINANCE , looking to re-create the outsized returns of Bitcoin’s formative years. Ethereum: Innovation and Maturity Ethereum remains unmatched in smart contract deployment and Layer-2 development. But with its price range tightening, ETH investors are increasingly diversifying. MAGACOIN FINANCE has caught the attention of Ethereum holders seeking breakout potential in a more agile, community-controlled ecosystem. Solana: Speed, Adoption, and Diversification Solana continues to perform as one of the fastest Layer-1 blockchains. However, many SOL investors are now turning toward VeChain , drawn to its enterprise focus and ability to execute in regulated environments. The shift underscores a broader trend toward utility-backed assets. VeChain: Real-World Utility on the Rise VeChain is gaining momentum thanks to partnerships, cross-chain compatibility, and growing institutional visibility. As more traders search for blockchain applications with real-world outcomes, VeChain stands out—especially to those rebalancing from more speculative holdings. Conclusion With its disciplined foundation, transparent growth, and rising adoption, MAGACOIN FINANCE is rapidly becoming a contender to match or even exceed the relative percentage performance of Bitcoin and Ethereum. At the same time, VeChain’s enterprise integration is pulling attention from Solana holders seeking long-term reliability. Together, these two projects capture both ends of the crypto opportunity spectrum—early momentum and real-world application. To learn more about MAGACOIN FINANCE, visit: Website: https://magacoinfinance.com Exclusive Access Portal: https://magacoinfinance.com/entry Continue Reading: Could MAGACOIN FINANCE Surpass Bitcoin and Ethereum Gains? Solana Investors Turn to VeChain
Based on reports, stablecoin issuance has kept climbing for the past 90 days, with billions of dollars flowing in each week. Investors appear to be waiting for a clear sign before moving capital. Right now, USDT holds over 66% of that market, while USDC and DAI share the rest. In total, stablecoins account for about $250 billion, or almost 8% of all crypto assets. Related Reading: Bunker Buster: Ethereum Titans Stake $100 Million Amid US-Iran Hostilities Stablecoin Supply Hitting New Highs Demand for a trusted dollar peg is driving this growth. Tether leads by a wide margin because many traders trust its stability. Stablecoin reserves have swelled, even as other segments stay quiet. This points to plenty of cash on the sidelines. 🔥Billions in Stablecoins are issued weekly, and the 90-day change for all Stablecoins shows a large amount of liquidity available in the market. Tether (USDT) stands out, representing 66.2% of the entire Stablecoin market. Currently, the Stablecoin market cap is close to $250B… pic.twitter.com/DugpqDiEPl — Alphractal (@Alphractal) June 24, 2025 Bitcoin And Stablecoin Dominance Bitcoin and stablecoins together make up roughly 74% of the total crypto market. That’s a big number. In past cycles, once those balances peak, money often moves into smaller tokens. Right now, Bitcoin’s price is steadying after recent swings. Stablecoin balances keep growing. I can’t promise anything, but there’s a strong chance that a powerful Altcoin Season will take hold in the third quarter of 2025. I had already mentioned this in some posts before, about June and July, and I still stand by that analysis. The main reasons are the large amount of… https://t.co/TjRyxBxSKs — Joao Wedson (@joao_wedson) June 24, 2025 Altcoin Season On The Horizon Based on forecasts from analyst Joao Wedson, altcoins could see a lift in Q3 2025. He points to the huge amount of stablecoin liquidity and persistent doubt among retail and big players. That stage of doubt has come before in other cycles, and it usually marks a turning point. When confidence returns, altcoins tend to surge. Investors Poised On The Sidelines Many holders seem ready to hit buy. They’re holding onto stablecoins until charts, on-chain data or macro news clear up. A boost in stablecoin flows to exchanges could be one early hint that rotation is starting. Large moves by whale wallets into low-cap tokens may follow. In recent weeks, inflows of stablecoins into trading platforms have ticked higher. That’s a key signal to watch. If weekly inflows rise sharply—say above $5 billion—it may show serious appetite building. Past cycles saw similar spikes just before altcoin rallies began. Another one to monitor is decentralized finance platform volume. When stablecoins move from wallets to lending or liquidity pools, it usually indicates that traders are looking for return and preparing to swap to other tokens. Related Reading: Bitcoin Paces $15 Billion YTD Influx Amid 10-Week Fund Flow Streak Market observers will also be monitoring Bitcoin’s consolidation range closely. If it remains above recent lows for a few weeks, that would give confidence a boost everywhere. Then we could see smaller cryptocurrencies move higher on new liquidity. Based on these signals, it looks like we’re in a waiting game. Stablecoin supplies are at record levels, Bitcoin is settling, and altcoin sentiment remains low. When all that lines up just right, funds are likely to rotate. Then the altcoin sector could see new life. Featured image from Imagen, chart from TradingView
SoFi is making a strategic comeback to the cryptocurrency market, reintroducing Bitcoin and Ethereum trading along with expanded crypto services. The San Francisco-based financial firm plans to offer stablecoins, crypto
Summary During the quarter ended March, Bitdeer reported $70.1 million in top line revenue a year over year decline of 41.3%. For the first time, the company reported SEALMINER sales as an individual revenue segment. Those sales made up 5.8% of top line revenue and have the company's best gross margins. Based on current market conditions Bitdeer's SEALMINER A2s appear to be highly cost effective machines relative to competing offerings from Bitmain. The company raised over $300 million in a senior convertible note offering. Simultaneous to that raise, Bitdeer spend $130 million on call options that look dubious so far. Back in late-February, I covered Bitdeer ( BTDR ) for Seeking Alpha and spent time dissecting what I felt were the weak points of the company's business. After what I viewed to be a pretty awful year for the company in 2024, my closing takeaway was pretty simple: I see a company that is growing increasingly reliant on a segment that produced the worst gross margins of its four business lines during 2024. But the lone comment to that article pointed out something rather important, Bitdeer is adapting its business and aims to become a major player in the ASIC space. The 'elephant in the room' that I neglected to mention in February was the company's SEALMINER ambitions. After a Q1-25 report with SEALMINER sales broken out, we can assess how that business compares with Bitdeer's existing segments. We'll also look at the recent convertible note offering from the company. SEALMINER Sales & Q1-25 Revenue During the quarter ended March, Bitdeer reported $70.1 million in top line revenue. This was a decline of 41.3% year over year but a slight sequential bump from the $69 million reported at the end of December. More importantly, Bitdeer reported its first quarter of negative gross profit at -$3.2 million: Data by YCharts Adjusted EBITDA was negative by over $56 million and the company drew down its cash position by roughly 55% from $476 million at the end of December to $216 million at the end of March. It wasn't all bad in Q1 though. For the first time, Bitdeer's Q1-25 report gives investors insight into the profitability of the company's mining rig manufacturing segment. And the early indications from that line are good: $ in Millions Revenue Gross Profit Gross Margin Self-Mining $37.2 -$3.8 -10.2% Cloud Hash $0.1 $0.0 0.0% General Hosting $9.6 $0.5 5.2% Membership $16.3 $0.9 5.5% SEALMINERs $4.1 $0.8 19.5% Source: Bitdeer At 19.5% in the first quarter, SEALMINER sales were Bitdeer's most profitable business segment by far. Self-mining actually came in negative after $41 million in COGS to generate $37.2 million in self-mining revenue. Cloud Hash is all but a memory with just $0.1 million in revenue in Q1 while Membership and General Hosting have seen considerable compression in gross margins compared 16% and 23% respectively during 2024. I'll admit, the margin from early SEALMINER sales are encouraging, especially compared to how the rest of Bitdeer's business is performing. But the company has a long way to go before SEALMINERs can make for some of the issues elsewhere. Bitdeer Revenue By Segment (Bitdeer/Author's Chart) SEALMINER sales were a very small portion of the company's top line revenue at just 5.8%. Given the degree to which Bitdeer is scaling self-mining exahash, I would expect self-mining to continue to generate the lion's share of Bitdeer's business for the remainder of this year: Bitdeer Production (Bitdeer/Author's Chart) As of end of May, Bitdeer's self-mining footprint reached 13.6 EH/s. This was largely attributed to the company energizing its SEALMINER rigs for self-mining in addition to selling them to the public. SEALMINER Profitability and Sales Projections When comparing mining rigs, hashrate and joule/TH metrics are often focal points in the market. Yet, powering the most efficient rig by J/TH might not be smart if the purchaser overpays for the machine. Thus, cost per TH is perhaps the more important metric, in my view. The screen shot below shows the top ten Bitcoin mining rigs organized by hashrate. Two of Bitdeer's A2 models crack the top ten but the bigger takeaway is how cost effective these machines are compared to Bitmain machines: Bitcoin Mining Rig Comparison (MiningNow) Keep in mind, this data is changing constantly. But at present time, Bitdeer's A2 rigs can be purchased for less than $10/TH while Bitmain's Antminers are often at least double the price per TH. This is important because it means the payback period on purchasing these machines is effectively half the time for the SEALMINER A2s: A2 Pro Hyd Pricing (MiningNow) The screen shot above shows the payback period on the A2 Pro Hyd is just 262 days given current market conditions. Antiminer S23 Hyd 3U has a payback period closer to 540 days. To me, the real question for Bitdeer investors going forward is can the company scale SEALMINER sales? ASIC Market TAM (Bitdeer) The company certainly believes this to be the case and projects $6.4 billion in revenue between 2025 and 2027 if it can achieve 30% share of the market. Bitdeer spent $59 million on R&D in the quarter - this spend was tied to development of the SEALMINER A3 and A4 units that are expected later this year. Bitdeer is guiding for 5.5-6 joules per TH on the A4s. Which, if achieved, would be a groundbreaking efficiency in the ASIC industry. $330 Million Convertible Note Offering Bitdeer announced a $300 million senior convertible note offering in mid-June. That offering was subsequently up-sized to $330 million and the notes pay 4.875% through July 1st, 2031. Each $1,000 in capital raised has a common stock conversion rate of 62.9921 Class A ordinary shares or $15.88 per share. Possible dilution from the converts - assuming it makes financial sense for the note holders to take BTDR shares - would be 20.8 million shares. Of the roughly $320 million in proceeds from the offering, Bitdeer will spend just under $130 million to pay for a zero-strike call transaction that would limit dilution risk to shareholders. Most of the remaining capital is earmarked for data center growth, ASIC development, working capital, and general corporate purposes. The call transaction is interesting to me. The calls are designed for conversion hedging and flexibility. At 10.2 million shares and a premium of $129.6 million, the price of BTDR stock has to exceed $12.70 per share to justify the wager. At current BTDR prices - $10.98 on June 24th close - you could argue the premium paid for that call transaction could have been better served as a simple repurchase plan rather than as an options play. For instance, at $11 per share, open market repurchases with $129.6 million buy 11.9 million BTDR shares rather than the 10.2 million from the call strategy. It's still very early, but with the benefit of hindsight, the short-term impact of the call strategy appears negative, from where I sit. The company is betting capital based on the assumption that its share price will increase. Which is a positive sign if you're a believer in Bitdeer's growth prospects. I'm much less convinced that Bitdeer can scale self-mining EH/s to 40 by Q4 this year based on where it was at the end of May. But I've been wrong about this company in the past and that could certainly happen again. Valuation Relative to Peers In the past, one of my biggest concerns about Bitdeer stock was its valuation relative to peers. I've typically looked at those valuations through price to book and price to sales multiples. The price to book story looks much better than it has in the past: Data by YCharts At just 2.7x book, BTDR is far less expensive than it was at the beginning of 2025 and is now a bit more in line with peers. The same is true for the forward sales multiple: Data by YCharts Here, we actually see BTDR is on the cheap side at just 2.7x forward sales. This puts the company below the info tech sector median of 2.8x forward sales and well below what we're seeing from the rest of the top miners in the industry. Closing Summary Now that we have a quarter of SEALMINER sales to assess, I'm coming around on Bitdeer. Not only were the mining machine sales the most profitable business for Bitdeer on a gross margin basis, but the cost per TH numbers from the A2 rigs are actually very good. Remember, my original bearishness BTDR has been due to Cloud Hash - this was a business that was unsustainable because it was a poor product for the plan purchasers. I'd argue the opposite is true for Bitdeer's mining machines. Those look cost effective and efficient given current market conditions. The question is whether or not Bitdeer can scale those sales. Based on the use of proceeds from the recent convertible note offering, I'd argue the company is betting on itself to achieve some of the numbers laid out in its TAM projections for ASIC growth. At $11 per share, the stock isn't nearly as overvalued as it was at the end of 2024 and it could be argued BTDR is actually cheap compared to mining stock peers. I'm upgrading BTDR from 'sell' to 'hold.'
Bitcoin inflows to Binance have sharply declined, signaling a potential reduction in short-term selling pressure amid BTC’s strong price performance above $105,000. This decrease in exchange inflows contrasts with previous