BitcoinWorld Ethereum: Massive $36.4M Abraxas Capital Withdrawal Sparks Binance Scrutiny In the fast-paced world of cryptocurrency, tracking the movements of large holders, often referred to as ‘whales,’ can offer valuable insights into market sentiment and potential future trends. A recent event that has caught the eye of on-chain analysts is a significant crypto withdrawal involving a substantial amount of Ethereum (ETH) from the world’s largest exchange, Binance . According to data shared by the blockchain analytics firm Lookonchain on X, a prominent entity known as Abraxas Capital has moved a staggering 13,771 ETH out of the Binance platform within the last 12 hours. At the time of the transaction, this withdrawal was valued at approximately $36.4 million USD. This isn’t just a routine transfer; movements of this magnitude by large capital allocators like Abraxas Capital are often tracked closely by the market. They can signal various intentions, ranging from strategic investment shifts to changes in custody preferences. Who is Abraxas Capital and Why Does Their Crypto Withdrawal Matter? While specific details about Abraxas Capital are not always publicly disclosed, their on-chain activity suggests they are a significant player in the cryptocurrency space – likely a large fund, institution, or high-net-worth individual managing substantial digital asset holdings. When entities like this make large moves, especially a major crypto withdrawal from a central exchange, it attracts attention because: Scale: Moving $36.4 million in ETH is a considerable amount that can potentially impact exchange liquidity or signal a large upcoming off-exchange activity. Intent: Large withdrawals often indicate a shift from a trading-focused strategy (keeping assets on an exchange) to a longer-term holding strategy, participation in decentralized finance (DeFi), staking, or preparation for over-the-counter (OTC) transactions. Market Signal: While not a guaranteed predictor, whale movements are sometimes interpreted as bullish (moving to stake or hold long-term) or bearish (preparing to sell OTC) signals by other market participants. Tracking entities like Abraxas Capital through on-chain data provides a layer of transparency that is unique to blockchain technology, allowing anyone to observe these large capital flows. Understanding the Implications of Moving Ethereum Off Binance A crypto withdrawal of this size from a major exchange like Binance can have several potential implications, both for the entity making the move and for the broader Ethereum ecosystem and market: For Abraxas Capital: Enhanced Security: Moving assets off an exchange into a self-custody wallet (like a hardware wallet) provides greater control and mitigates exchange-specific risks (e.g., hacks, regulatory issues). Access to DeFi and Staking: Off-exchange ETH can be used to participate in the vast Ethereum decentralized finance ecosystem or be staked to earn yield, activities not typically available directly on a centralized exchange. Preparation for OTC Trades: Large block trades are often executed off-exchange via OTC desks to minimize market impact, and withdrawing funds is a necessary step for this. For Binance: While $36.4 million is a significant sum, Binance manages billions in assets. This withdrawal is unlikely to have a material impact on its overall liquidity or operations, but tracking net flows (inflows vs. outflows) on exchanges is a metric used by analysts. For Ethereum and the Market: Potential Reduced Sell Pressure: ETH moved off-exchange is less likely to be immediately sold on the open market compared to ETH held on an exchange’s hot wallet. Signal of Confidence: Moving ETH for staking or long-term holding can be interpreted as a bullish signal, indicating confidence in Ethereum ‘s future value. Increased DeFi/Staking Participation: If the ETH is moved for these purposes, it contributes to the health and security of the Ethereum network. It’s crucial to remember that a single transaction, even a large one, is just one data point. Understanding the full context requires observing subsequent movements of these funds and looking at aggregate data across many whales and exchanges. Tracking Large ETH Movements: Leveraging On-chain Data The ability to track transactions like the one made by Abraxas Capital is a powerful feature of public blockchains like Ethereum . On-chain data analytics platforms, such as Lookonchain, process this publicly available information to identify and report on significant transfers involving large wallets or known entities. How On-chain Data Helps: Transparency: Provides visibility into asset flows that is impossible in traditional finance. Whale Watching: Allows tracking the activity of large holders, who often have significant market influence or early information. Identifying Trends: Aggregating data from many large transactions can reveal broader trends in investor behavior (e.g., accumulation phases, distribution phases, shifts towards DeFi). Security Monitoring: Helps identify potentially suspicious activities or large movements associated with hacks or exploits. However, interpreting on-chain data requires caution. While we can see *what* happened (ETH moved from A to B), we cannot definitively know *why* without further information. A withdrawal could be for staking, selling, lending, or simply changing custody solutions. Actionable Insights from Whale Activity While not financial advice, observing the actions of large players like Abraxas Capital through on-chain data can offer insights for other market participants: Consider Security: The move highlights the importance of self-custody for significant holdings. Consider the benefits and challenges of keeping funds off-exchange. Stay Informed: Follow reliable on-chain data sources to monitor large movements and understand potential shifts in market dynamics. Context is Key: Don’t overreact to single transactions. Look for patterns, aggregate data, and consider the broader market context. Explore Off-Exchange Opportunities: Understand why entities might move funds off exchanges (staking, DeFi) and research if these opportunities align with your own investment goals. The benefits of tracking such movements lie in gaining a deeper understanding of market structure and participant behavior, rather than using them as direct buy/sell signals. Conclusion: A Glimpse into Whale Strategy The withdrawal of 13,771 Ethereum by Abraxas Capital from Binance is a prime example of the significant capital movements that occur daily in the crypto ecosystem. Tracked via on-chain data , this crypto withdrawal offers a valuable glimpse into the potential strategies of large holders. Whether this move is a precursor to staking, participation in DeFi, an OTC trade, or simply a change in custody, it underscores the transparency of blockchain technology and the importance of monitoring whale activity for those seeking to understand market dynamics. While the exact reasons remain speculative, the action itself is a clear signal of a major player making a deliberate move regarding a substantial Ethereum holding. To learn more about the latest Ethereum trends, explore our articles on key developments shaping Ethereum price action and institutional adoption . This post Ethereum: Massive $36.4M Abraxas Capital Withdrawal Sparks Binance Scrutiny first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin miner Solo CK achieved a rare feat by successfully mining block 899,826, earning a substantial reward of 3.151 BTC on June 5, 2025. This accomplishment highlights the challenges and
Circle, the issuer of the USDC stablecoin, has raised $1.1 billion in its initial public offering (IPO), which was priced above expectations. The development comes as the U.S. Congress is currently reviewing federal legislation on stablecoins. Circle’s Valuation Could Hit $6.2 B According to a Bloomberg report , Circle’s IPO is likely to price above its marketed range after attracting demand for more than 25 times the number of shares available in the upsized deal. Based on figures in the company’s latest filing with the U.S. Securities and Exchange Commission (SEC), the stablecoin issuer and several of its backers planned on raising $896 million at the top of the $27 to $28 price range. People familiar with the matter revealed that Circle and the selling shareholders are offering 32 million shares in the deal. Notably, this figure is up from 24 million shares provided earlier at $24 to $26 each. They also said that most shares will go to investors who plan to hold the stock long-term. However, deliberations are ongoing, and the company may still price the investment within the original range. CoinGecko data shows that Circle’s USDC had about a 29% share of the stablecoin market as of March this year. At the high end, the firm would have a market cap of nearly $6.2 billion. Bloomberg estimates show that when factoring in options, restricted stock units, and warrants, its fully diluted valuation would also rise to around $7.2 billion. The anonymous sources also indicated that the IPO will be priced on Wednesday evening in New York. Meanwhile, JPMorgan Chase, Citigroup, and Goldman Sachs are serving as lead underwriters. The offering is expected to begin trading on the New York Stock Exchange under the ticker symbol CRCL. ARK and BlackRock Show Interest The IPO has allegedly already attracted interest from major investors. The report notes that ARK Investment Management, led by Cathie Wood, showed intentions of acquiring up to $150 million in shares. On the other hand, BlackRock plans to buy about 10% of the offering. This development coincides with growing attention in Washington on stablecoins as lawmakers push forward legislation to govern the sector. Two key bills, the STABLE Act and the GENIUS Act, are currently advancing through the House and Senate. On April 2, the U.S. House Financial Services Committee passed the former, which now needs to get a full House vote and then a Senate vote in its next stages of approval into law. Meanwhile, the latter advanced in a 66-32 Senate vote on May 20 and will now proceed to the next legislative stage. If enacted into law, these bills would give stablecoins greater legitimacy, encouraging institutional adoption while mitigating risks associated with unregulated digital currencies. The post USDC Issuer Circle Raises $1.1B in Its IPO (Report) appeared first on CryptoPotato .
The head of research and co-founder of financial services firm Fundstrat says that many people continue to have reservations about stocks despite positive signals in the market. In a new interview on CNBC’s Closing Bell, Tom Lee says that there are still a number of people who are hesitant to engage with the equities market, regardless that the S&P is doing well and many investors are bullish. “In our calls and Zooms with portfolio managers, many are still cautious because they see tariff risks ahead, and they don’t have tariff resolution in hand. They can’t get bullish. I think the feedback we get from a lot of folks is that they think stocks shouldn’t be rising.” Lee says indicators hint at a bullish trajectory for the market. “I would say given the amount of cash on the sidelines, the fact that short interest is going up, and we have a quiet week and markets are rallying, I think the risk is now of a substantial leg-up rally from here.” He says that tariffs matter, but the higher rates will not have critical effects on the economy. “Remember, before February, before Trump sort of talked about this, the base case for many was a 15% tariff. Let’s say that we’re going to end up at 10%. That’s 10% on 15%, which is imports, which is about a 1% GDP effect. That’s not that different from oil going from $40 to $80. We wouldn’t say $80 oil breaks the economy anymore, so I think tariffs – we have to adjust to it, but it’s not the thing that takes us to 4000 S&P anymore.” 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 ‘Substantial Leg-Up Rally’ Coming for Stock Market, According to Fundstrat’s Tom Lee – Here’s Why appeared first on The Daily Hodl .
Coinbase introduces wrapped cbXRP and cbDOGE on its Base network. The wrapped coins facilitate low-fee DeFi transitions on Ethereum via Base. Continue Reading: Coinbase Boosts Base Network by Introducing cbXRP and cbDOGE The post Coinbase Boosts Base Network by Introducing cbXRP and cbDOGE appeared first on COINTURK NEWS .
BitcoinWorld HTX Jumps Two Spots to #8 in Kaiko’s Q2 Exchange Ranking SINGAPORE , June 5, 2025 /PRNewswire/ — HTX, a leading global cryptocurrency exchange, has officially ranked 8th in Kaiko’s Q2 2025 Global Spot Exchange Ranking, rising two positions from the previous quarter. This significant leap marks the strongest upward movement among the top 10 exchanges this quarter and underscores HTX’s growing global influence and robust platform performance. Kaiko, a trusted provider of institutional-grade crypto market data and indices, assessed 45 leading spot exchanges across six weighted dimensions: Governance, Liquidity, Technology, Business, Security, and Data Quality. HTX distinguished itself particularly in the Business and Technology categories, while maintaining top-tier performance in Security. Business Strength: Ranked Second in the Industry HTX secured the No. 2 position globally in the Business category, reflecting its exceptional product depth, operational scale, and innovation capacity. In April alone, HTX listed 14 new tokens covering trending sectors such as staking infrastructure and on-chain narratives. Standout performers included: STO, which saw a post-listing surge of 303% DARK (MCP narrative), up 246% HOUSE (Solana-based meme coin), up 176% HTX also became the first exchange globally to list USD1 (World Liberty Financial USD), a new entrant in the stablecoin space, further cementing its position as a first-mover in emerging asset classes. According to DeFiLlama, HTX achieved a net capital inflow of $472 million in April, the highest among global CEXs—surpassing competitors by 6–7x. In addition, CoinGecko’s 2025 Q1 Crypto Industry Report named HTX the only Top 10 exchange with positive spot trading growth, bucking broader market headwinds. Technological Excellence and Seamless User Experience HTX also ranked among the top performers in the Technology dimension, which Kaiko defines by factors such as platform uptime, API latency, and throughput under high-load conditions. HTX’s consistent system stability and ultra-low-latency infrastructure have enabled it to deliver a high-frequency trading environment trusted by both retail and institutional users. In Kaiko’s analysis, technological excellence is a core driver of user retention—and HTX’s performance reinforces its standing as a premium trading venue. Top-Tier Security HTX scored among the highest across the board in Security, thanks to proactive risk management and infrastructure investment. The exchange has maintained zero security incidents for 20+ consecutive months. Recent enhancements include: Multi-device login protections and anomaly transfer alerts Fireblocks Off-Exchange integration to strengthen institutional custody Expanded collaboration with global white-hat partners for 24/7 defense and continuous penetration testing HTX continues to set the industry standard for transparency, with 31 consecutive months of asset reserve disclosures. Its May 2025 Merkle Tree Proof of Reserves confirmed a 73% surge in USDT in April, followed by over 30% growth in May—clear proof of growing user trust and accelerating capital inflows. A Continued Commitment to Excellence HTX remains committed to upholding the highest standards in security, compliance, and market integrity while expanding access to new digital asset opportunities. This recognition by Kaiko places HTX firmly among the elite exchanges shaping the future of the crypto ecosystem. About HTX Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide. To learn more about HTX, please visit HTX Square or https://www.htx.com/ , and follow HTX on X , Telegram , and Discord . This post HTX Jumps Two Spots to #8 in Kaiko’s Q2 Exchange Ranking first appeared on BitcoinWorld and is written by chainwire
Coinbase has launched wrapped versions of XRP and Dogecoin, cbXRP and cbDOGE, on its Base Layer 2 Ethereum network, opening new cross-chain opportunities for both assets. Key Takeaways: Coinbase launched cbXRP and cbDOGE on Base, minting $7M worth of tokens in 24 hours. XRP remains range-bound between $2.17 and $2.28, with traders eyeing a potential breakout. Wrapped XRP and DOGE could boost DeFi utility and influence market liquidity. The U.S.-based exchange confirmed the rollout in a June 5 post on X, after previously hinting at the move last month. Both cbXRP and cbDOGE are backed 1:1 by XRP and DOGE held in Coinbase’s custody. The move enables these assets to be used across decentralized finance (DeFi) applications on Base. Coinbase Mints $7M Worth of Wrapped XRP and DOGE in First 24 Hours Within the first 24 hours, over 2.3 million cbXRP (worth roughly $5 million) and 10.4 million cbDOGE (worth about $1.9 million) were minted, according to Coinbase data. There may be fraudulent actors pretending to be cbDOGE and cbXRP. The Base contract addresses for these assets are: cbDOGE: 0xcbD06E5A2B0C65597161de254AA074E489dEb510 cbXRP: 0xcb585250f852C6c6bf90434AB21A00f02833a4af — Coinbase Assets (@CoinbaseAssets) June 4, 2025 The launch is part of Coinbase’s broader push to position Base as a leading Layer 2 solution. The chain offers lower fees and faster transactions, making it increasingly attractive for DeFi traders and developers. The exchange also noted that additional wrapped tokens, cbLTC and cbADA, are in development, with release timelines to follow. This is Coinbase’s latest expansion of its wrapped token strategy, following the launch of cbBTC in September 2024. That product has grown to a $4.7 billion market cap. Meanwhile, XRP traders are watching market action closely. The token has traded sideways for more than six months, with analyst Sjuu noting it has consolidated between $2 and $2.60 for roughly 190 days. Many expect a potential breakout after this prolonged range-bound activity. “Exactly! Patience pays off — $XRP is just gathering strength for a powerful move,” one X user said. Will $XRP ever get out of this never-ending range? Already trading here for 190 days! Seems like ages! Well, just remember, the longer the consolidation, the stronger the breakout! pic.twitter.com/c6RRccj0vv — Sjuul | AltCryptoGems (@AltCryptoGems) June 4, 2025 Dogecoin, which saw renewed interest earlier this year, could also benefit from improved onchain access via Base. As wrapped XRP and DOGE become more accessible in the DeFi ecosystem, traders will be monitoring whether the added utility could influence liquidity and price momentum. XRP Holds Above $2.18 Support as Traders Eye Breakout XRP is currently trading around $2.19 after a prolonged consolidation phase. The 2-hour chart shows the price stabilizing between $2.17 and $2.28, with Bollinger Bands tightening — typically a precursor to volatility. RSI on the 2-hour is at 42.30, indicating weak momentum and no clear directional bias. MACD is flat, hovering near the zero line, reflecting the sideways price action seen since mid-May. Zooming into the 1-hour chart, XRP remains in a slight downtrend from its May peak near $2.60. Current RSI is 37.74, approaching oversold territory, which could hint at a potential bounce if buyers step in around the $2.17–$2.18 support zone. MACD remains mildly bearish but shows signs of flattening. On the 1-minute chart, short-term action shows a small recovery off intraday lows, with RSI climbing to 56.21 and MACD flipping slightly positive — suggesting minor bullish momentum in the very near term. For now, key resistance lies around $2.23–$2.25. A decisive break above this range could open the door for a retest of $2.40. On the downside, if $2.17 fails, XRP could revisit the $2.05–$2.10 zone. The post Crypto Trader Alert: Coinbase Brings Wrapped XRP & DOGE Trading on Base appeared first on Cryptonews .
South Korea is accelerating the approval of Bitcoin ETFs, signaling a transformative shift in its crypto regulatory landscape aimed at fostering industry growth and investor confidence. The government’s regulatory reforms
The post SUI Price Prediction and Analysis: Is a $10 Rally Coming? appeared first on Coinpedia Fintech News The SUI price chart is still stuck in a correction phase that began in May, and so far, there’s no convincing sign of a fresh rally. The price is still under downward pressure, particularly on the shorter timeframes, despite a few minor attempts at recovery. Based on the overall pattern, analysts think the correction isn’t finished yet. The most recent analysis shows that the market should ideally dip slightly lower before preparing for a price spike. Short-term, SUI has already retreated from its most recent May highs and is still following a consistent pattern. The price recently tested support at $3.05; if it drops below this level, it may move swiftly toward the next support at $2.79. According to the general mood of the market, one more decline is possible before a proper recovery can start. Analysts are keeping a close eye on the $3.38 mark for a possible bullish turnaround. A significant price rally may begin if SUI is able to break above this level. But unless this happens, the downward pressure is probably going to continue for the time being. Bullish Picture For SUI: An expert has given a positive report on SUI, indicating that the token might be currently in a bullish consolidation period. The analyst said that the price is still below a resistance area — called the BOS zone — that the market structure is, however, locally bearish for now. However, the mood could quickly become positive when the price manages to get above that important level. The expert said that traders should look for a definite breakthrough and then re-test the zone’s re-test. If the price remains there securely, that would be a good sign of a bullish reversal in trend. After SUI goes into price discovery, it will be able to reach more than $10 in its next big rally.
Victoria, Seychelles, June 5th, 2025, Chainwire Following the successful debut of the limited-edition BYDFi x Ledger Nano X hardware wallet at TOKEN2049 Dubai , global crypto exchange BYDFi and hardware wallet leader Ledger have launched a global campaign to engage crypto KOLs and content creators. With only 500 units available worldwide, the initiative invites Web3 participants to promote secure self-custody and mobile-first asset protection by applying to join this exclusive collaboration. Campaign Overview: Limited 500-Unit Cold Wallet Collaboration The BYDFi x Ledger campaign invites creators and KOLs to participate in a simple, open-entry initiative to receive a limited-edition wallet. To join, participants are encouraged to post on X using the hashtag #BYDFixLedger, share their thoughts on the collaboration, and submit a brief application form via the official campaign page. Selected applicants will receive the exclusive BYDFi x Ledger Nano X, along with special perks as part of the partnership program. Users can learn more and apply at: https://www.bydfi.com/en/ledger Product Highlight: BYDFi x Ledger Nano X The BYDFi x Ledger Nano X is a customized version of Ledger’s flagship cold wallet, equipped with Bluetooth, USB-C, and support for over 15,000 cryptocurrencies and NFTs. Key features include: Mobile-first design compatible with iOS, Android, macOS, and Windows Military-grade security via CC EAL5+ certified secure element Ledger Live integration for seamless asset tracking, staking, and transactions Support for multi-chain and multi-asset management, including Bitcoin, Ethereum, Solana, and ERC20 tokens Engineered for users who prioritize portability and protection, the Nano X ensures private keys stay offline—eliminating the remote risks of custodial wallets or centralized platforms. Vision: Empowering Web3 Ownership Through Self-Custody In today’s decentralized world, where digital assets are becoming integral to both individual and institutional portfolios, self-custody has emerged as a foundational principle. BYDFi and Ledger share a vision that emphasizes secure, user-controlled asset management as the cornerstone of the Web3 movement. This collaboration promotes a future where participants in the crypto ecosystem—whether traders, builders, or educators—can confidently manage their assets with mobility, transparency, and control. Michael, Co-founder of BYDFi, commented: “True ownership starts with self-custody. Our collaboration with Ledger aims to equip users with secure, intuitive tools to manage their digital assets with confidence—anytime, anywhere.” About Ledger Ledger is a global leader in digital asset security, known for its hardware wallet innovations since 2015. With over 6 million devices sold and zero hacks, Ledger’s products—including the Nano series and Ledger Live app—enable millions of users and enterprises to manage their crypto, NFTs, and data securely in the Web3 age. About BYDFi Founded in 2020, BYDFi now serves over 1 million users across more than 190 countries and regions. The platform has been featured by Forbes as one of the Best Crypto Exchanges & Apps for Beginners of 2025 . With a comprehensive product suite—including spot trading, perpetual contracts, copy trading, automated bots, and on-chain tools—BYDFi supports both novice and professional traders in navigating the digital asset market with confidence. BYDFi is committed to providing a world-class crypto trading experience for every user. BUIDL Your Dream Finance. Website: https://www.bydfi.com Support email: cs@bydfi.com Business partnerships: bd@bydfi.com Media inquiries: media@bydfi.com Twitter( X ) | LinkedIn | Telegram | YouTube | How to Buy on BYDFi ContactMedia ManagerAnnaBYDFi Fintech LTDannachloe@bydfi.com Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.