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The total market capitalization of U.S. dollar-pegged stablecoins has fallen by approximately $10 billion since the beginning of the year, with funds appearing to have shifted to the U.S. stock market, according to on-chain analyst EmberCN. Citing data from CoinGecko, the analyst noted that the total supply of USDT has decreased by $5.7 billion year-to-date, from $189.8 billion to its current $184.1 billion, while USDC's supply has dropped by $6.6 billion over the same period. In contrast, the supply of USD1 has grown by $500 million since the start of the year. EmberCN attributed this increase to "subsidy policies" from multiple centralized exchanges that offer interest on the stablecoin.

U.S. venture capital magnate and Bitcoin maximalist Tim Draper told Cointelegraph that an address that deposited 1,000 BTC to Coinbase Prime did not belong to him, stating that he has not touched his Bitcoin holdings. He added that he maintains his forecast that Bitcoin will reach $250,000 within a year. The statement follows reports from multiple on-chain analysis channels earlier today that Draper had transferred 1,000 BTC to the exchange. The claim was based on data from the on-chain platform Arkham (ARKM), which had tagged the address in question with 'Tim Draper?'. Cointelegraph noted that Arkham estimates wallet ownership using AI-based entity inference and that the question mark indicates low confidence in the attribution. Draper is known for purchasing approximately 29,656 BTC in a 2014 U.S. Marshals Service auction of assets seized from the dark web platform Silk Road. At the time, he acquired the coins for $632 each, a total purchase of about $18.7 million.

According to Hyperbot data, Jeffrey Huang, a prominent Taiwanese singer also known as Machi Big Brother, has opened additional long positions in Bitcoin (BTC) and Hyperliquid (HYPE). His current unrealized profit stands at approximately $570,000, representing a 125% return on investment (ROI). His current positions include: - A 25x leveraged long on 6,100 ETH with an average entry price of $1,668 - A 40x leveraged long on 9 BTC with an average entry price of $62,519 - A 10x leveraged long on 2,100 HYPE with an average entry price of $71 Huang previously accumulated losses of $33.85 million from a series of leveraged position liquidations.

The Major County Sheriffs of America (MCSA) has announced it is withdrawing its opposition to the Blockchain Regulatory Clarity Act (BRCA) and is adopting a neutral stance. In a letter published on July 3, the MCSA explained that discussions with the administration have clarified how the bill's provisions would be interpreted and applied. The association added, however, that it believes there is still room to further improve the legislation to support both responsible innovation and the practical needs of state and local law enforcement. The MCSA stated it will continue to consult with Congress and the administration on the matter.

The hacker behind the UXLINK exploit used 10.54 million DAI to purchase 6,001 ETH at an average price of $1,757 about an hour ago, according to on-chain analysis platform Onchain Lens. The funds were then transferred to the crypto mixing service Tornado Cash (TORN).

On-chain analyst Axel Adler Jr. said on X that with Bitcoin entering the late stage of a bear market, the spot ETF market is showing its first signs of easing selling pressure. On the most recent trading day, U.S. spot Bitcoin ETFs saw a total net inflow of $223 million. Fidelity's FBTC and Ark's ARKB absorbed most of these funds, with inflows of $166 million and $91.8 million, respectively. Adler noted that this net inflow suggests a potential recovery in institutional investor demand during the bear market phase.

On-chain analytics firm Glassnode said on X that its Altcoin Cycle Signal continues to indicate an altseason. The firm explained that the current strength surpasses the "denominator effect" it highlighted last month, where altcoins appeared stronger simply because of Bitcoin's weakness. Glassnode added that altcoins are now showing strong momentum on both a relative and absolute basis.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 51.36% long, 48.64% short - Binance: 51.64% long, 48.36% short - OKX: 50.94% long, 49.06% short - Bybit: 50.86% long, 49.14% short

Malaysian police have shut down an illegal cryptocurrency mining operation in a warehouse within the Port Klang Free Zone (PKFZ), local media outlet the New Straits Times reported. Police arrested two foreign men, aged 20 and 31, at the scene and confiscated mining equipment. An investigation is underway to determine the duration and scale of the operation. The two men face charges of property trespass under the Penal Code and violations of the Electricity Supply Act. If convicted, they could face up to five years in prison, a fine of 100,000 ringgit (approximately $24,500), or both.

The Solana-based memecoin ANSEM has surged 166,590.76% over the past week and 98.12% in the last 24 hours. The token is named after Ansem, an anonymous crypto analyst with approximately 480,000 followers on X. According to The Data Nerd, the analyst's on-chain portfolio value has increased by over $193 million in the last week, with the majority of the profit originating from the ANSEM token.

Crypto analyst Murphy (@Murphychen888) posted on X that the Short-Term Holder Realized Price (STH-RP) around $70,000 is a key pivot point for Bitcoin, suggesting a break above this level could increase the chances of a trend reversal. The analyst set short-term rebound targets for BTC at $64,000, $68,000, and $70,000. He explained that the $64,000 to $68,000 range is where the average purchase price for short-term holders is concentrated. As a result, selling from investors who are at a loss could lead to a repeated pattern of breakouts, resistance, corrections, and re-attempts in this zone. Murphy added that the current rebound is likely to be a weak one, limited to the $64,000-$68,000 level. He believes only a move above $70,000 could be considered a strong rebound.

Nasdaq-listed Bitcoin mining company Bitdeer announced that it mined 223.1 BTC this week and sold the entire amount during the same period. The company has been pursuing a "zero BTC holdings" strategy since February, selling all the Bitcoin it mines.

Brazil's Central Bank has stated that stablecoins should be classified and regulated as electronic money rather than as general cryptocurrencies, Bitcoin.com reported. Fábio Araújo, an advisor at the central bank's Regulation Department (Denor), explained that while assets like Bitcoin (BTC) and Ethereum (ETH) have inherent scarcity and transferability, stablecoins function as payment instruments based on real-world assets (RWA) and should be treated as monetary financial products. In contrast, the Brazilian Crypto Economy Association (Abcripto), which includes members like Binance, Coinbase, and Tether, has opposed this view. The association argues that such a classification would hinder the adoption of stablecoins by institutions and individuals and is inconsistent with international regulatory trends. Meanwhile, Brazil's Central Bank recently announced stricter supervision standards for Virtual Asset Service Providers (VASPs), bringing them in line with regulations for securities firms.

According to on-chain analysis platform Onchain Lens, a new wallet starting with 0x243 deposited and sold 52.67 BTC, worth approximately $3.26 million, on HyperLiquid before opening a 20x leveraged long position on 14.189 million XRP. The position is valued at approximately $16.3 million and is currently showing an unrealized profit of about $477,000.

An address associated with the Bhutanese government deposited 700 BTC, worth $43.75 million, into Binance about two hours ago, according to Onchain Lens. Deposits to exchanges are typically interpreted as an intention to sell.

Crypto neobank Revolut has notified users that it will delist Tether (USDT) ahead of the full implementation of the European Union's Markets in Crypto-Assets (MiCA) regulation. According to the notice, users can purchase USDT until July 6 and must sell their holdings or withdraw them to an external wallet by 12:00 p.m. UTC on Aug. 31. Any USDT remaining in accounts after this deadline will be automatically converted into fiat currency. Revolut stated the phase-out is necessary to avoid regulatory risks, as USDT issuer Tether has not met MiCA's requirements for reserve asset disclosure, regular audits, and liquidity management, classifying it as a non-compliant stablecoin under EU rules.

According to data from Nansen, Solana has ranked first in on-chain activity over the past seven days, driven by a surge in trading for the memecoin ANSEM. Solana recorded approximately 29.84 million active addresses, significantly outpacing Tron (8.74 million), BNB Chain (8.09 million), Bitcoin (2.73 million), and Ethereum (2.46 million). Over the last seven days, Solana's active addresses increased by 55%, with the network processing 680 million transactions. During the same period, fee revenue reached $3.66 million, a 62% increase year-on-year, while protocol revenue was $407,000, up 18%. The network's total value locked (TVL) rose by 5.9% over the past week to $25 billion.

The spot Cumulative Volume Delta (CVD) chart analyzes the order book for the BTC/USDT spot pair. The top section shows the Volume Heatmap, and the bottom section displays the CVD. - The Volume Heatmap at the top tracks trading volume at specific price levels. The background color brightens when the price lingers in a particular range or moves significantly. These brighter areas may act as potential support or resistance zones. - The CVD indicator at the bottom represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. For example, the yellow line tracks orders between $100 and $1,000, while the brown line represents large orders from $1 million to $10 million.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $70.57 million liquidated (87.84% shorts) - ETH: $94.11 million liquidated (83.01% shorts) - SOL: $11.03 million liquidated (90.42% shorts)

Despite growing optimism in the crypto market for a swift passage of the CLARITY Act in the U.S. Senate, Turkish crypto analyst Efe Bulduk has projected that a final vote is unlikely until after mid-August. In a post on X, the analyst, who has 450,000 followers, explained that the Senate is currently in a two-week official recess from June 29 to July 10, during which all legislative activity is suspended. He noted that a vote is impossible before the Senate reconvenes on July 13. Bulduk also pointed out that the Senate Agriculture and Banking Committees are still in discussions to merge their different draft versions of the bill. Furthermore, he added that if the final Senate version differs from the one passed by the House Agriculture Committee, a new committee would need to be formed for reconciliation. Bulduk concluded that the legislation is therefore likely to be delayed until after the Senate's next scheduled recess from Aug. 10 to Sept. 11.

ENS Labs Chief Operating Officer (COO) Brantly Millegan has announced his departure from the company and the gradual shutdown of its digital identity project, ethid.org. He added that the existing team members have begun looking for new jobs. As a result, most of the lab's ongoing projects, including GrailsMarket, ENSMarketBot, and EFP, are expected to cease operations within the next few weeks. The related code, however, will remain open source.

An anonymous whale address starting with 0x2684 has withdrawn a total of $37.7 million in cryptocurrency from Binance over the past three days, Hubble (formerly Spot On Chain) reported. The assets include 19,752 ETH, purchased at an average price of $1,591, and 100 wBTC, acquired at an average of $63,900. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

CoinMarketCap's Altcoin Season Index has fallen three points from the previous day to 45. The index determines whether it is an altcoin season by tracking if 75% of the top 100 cryptocurrencies, excluding stablecoins and wrapped tokens, have outperformed Bitcoin over the past 90 days. A score closer to 100 indicates a stronger altcoin season, while the opposite suggests a Bitcoin season.

The Spot CVD chart is an order book analysis tool for the BTC/USDT spot pair. The upper section shows the Volume Heatmap, while the lower section displays the Cumulative Volume Delta (CVD). - The upper Volume Heatmap tracks the volume of trades at specific price levels. The background color brightens when the price remains in a certain range for an extended period or experiences a significant move. These brighter areas may act as potential support or resistance levels. - The lower Cumulative Volume Delta (CVD) indicator represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. For example, the yellow line tracks orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

The Crypto Fear & Greed Index stands at 25, up four points from yesterday, maintaining its "Fear" status, according to CoinMarketCap's own estimates. The index measures market sentiment on a scale of 0 (Extreme Fear) to 100 (Extreme Optimism). CoinMarketCap's index is calculated based on several factors, including the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, the put-call ratio in the derivatives market, the Stablecoin Supply Ratio (SSR), and the platform's own search data.