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Crypto News

Bitcoin Hits Record High of $122,000 as Bullish Momentum Builds

Bitcoin breached $122,000 for the first time, with investor optimism increasing almost daily after it emerged from a narrow trading range that had left skeptics wondering whether the original cryptocurrency would regain the record-breaking momentum seen at the start of the year.

Bitcoin has crossed the $122,000 benchmark and is now trading at $122,321, with a narrowed 3.85% increase in 24 hours.

After surging on the election of Donald Trump to a second US presidential term, Bitcoin had settled into a pattern of fluctuating on either side of $100,000 for several months. Concern about Trump’s political and economic policies had helped to temper optimism over the pro-crypto agenda of his administration. Now with other risk assets such as stocks back around record highs, Bitcoin has also resumed its push higher.

“This shift signals a maturing perspective on Bitcoin — not merely a speculative asset, but a macro hedge and a structurally scarce store of value,” said George Mandres, senior trader at XBTO Trading LLC. “A surge in risk-on sentiment across equities, coupled with significant institutional inflows into spot Bitcoin and Ethereum ETFs, has fueled this steady ascent, notably absent the sharp volatility of previous bull runs.”

SharpLink Gaming Increases Ethereum Holdings by 16,374 ETH

According to Foresight News, on-chain analyst Yu Jin has reported that SharpLink Gaming recently acquired an additional 16,374 ETH, valued at approximately $48.85 million. This acquisition brings the company's total Ethereum holdings to 270,000 ETH. Since early June, SharpLink Gaming has been employing a micro-strategy approach to accumulate Ethereum, purchasing a total of 270,000 ETH at an average price of $2,667 per ETH. The company currently has an unrealized profit of $81.8 million from these investments.

Robinhood’s Private Stock Tokens Lure Investors, Draw Scrutiny

Robinhood started offering “tokenized” equities – cryptocurrency’s version of company shares – on Monday, June 30, hoping to usher in a new, 24-7 era of blockchain-based stock trading in Europe that would, eventually, migrate to the US.

The blowback has been swift. Two days after the debut, which was accompanied by a $1 million giveaway of OpenAI tokens, that company warned Robinhood customers off the securities. Shortly after, the Bank of Lithuania, Robinhood’s primary regulator in the EU, sent questions to the brokerage.

Coinbase Global, Inc. Acquires Leadership Team of DeFi Project Opyn Markets

Coinbase tapped the leadership team of decentralized finance project Opyn Markets in a talent-only acquisition, the crypto exchange said on Friday.

The move will "help us accelerate our efforts to bring more of our exchange business onchain, including advancing our onchain markets infrastructure like Verified Pools," Coinbase said in a blog post.

Memecoin Platform Pump.fun Raises $600 Million Within 12 Minutes

In another sign of the ongoing popularity of memecoins, a platform that lets people create their own highly-speculative tokens raised $600 million within 12 minutes on Saturday.

Pump.fun’s so-called initial coin offering ranks among the largest ever and comes a day after the largest cryptocurrency and market bellwether Bitcoin hit a fresh record high.

The platform, which is based on the Solana blockchain, said in a July 9 post on X that it planned to sell 150 billion of its tokens at $0.004 each and that it had already sold a block of 180 billion tokens at the same price to private investors.

Crypto Firms Move Toward Mainstream Banking Amid U.S. Regulation Shift: FT

Cryptocurrency companies are accelerating their efforts to enter the traditional banking space in the United States, capitalizing on what they see as a more favorable regulatory environment under President Donald Trump, the Financial Times reported Sunday.

Several major players in the digital asset space including Ripple, Circle Internet Corp. and BitGo applied for national trust bank charters, which would let them offer a limited set of banking services without needing licenses in every state. Meanwhile, crypto exchange Kraken is preparing to roll out both debit and credit cards in the coming weeks, signaling a broader pivot toward financial services.

Whale Accumulates 20,300 ETH Worth $56.3M, Deposits to Aave and Compound

According to on-chain data monitored by Lookonchain, a crypto whale has accumulated 20,300 Ether (ETH) over the past 10 days, valued at approximately $56.3 million. The entire amount has been deposited into decentralized finance (DeFi) lending platforms Aave and Compound.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF last Friday was $1.03 billion. The total net asset value of Bitcoin spot ETFs is $150.60 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.43%.

The Bitcoin spot ETF with the highest net inflow on Jul 11 was iShares Bitcoin Trust ETF, with a net inflow of $953.52 million. Following that was ARK 21Shares Bitcoin ETF, with a net inflow of 23.51 million, according to SoSoValue.

SoSoValue