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Bitcoin Rises above $118,000 with a Narrowed 0.59% Increase in 24 Hours

Bitcoin has risen above $118,000 and is now trading at $118,587, with a narrowed 0.59% increase in 24 hours.

Ethereum Hovers Around $3,400 with a 7.37% Increase in 24 Hours

Ethereum has crossed the $3,400 benchmark and is now trading at $3,374, with a narrowed 7.37% increase in 24 hours.

Crypto Week Survives Scare as House Members Scramble to Advance Procedural Motion in a 217–212 Vote

The House Crypto Week faced a crucial test again on Wednesday after lawmakers scrambled to pass a procedural motion that would allow the GENIUS, CLARITY, and Anti-CBDC Surveillance bills to move forward. After lingering for nearly 10 hours, in what became the longest vote in the House, the procedural motion passed by a vote of 217–212, marking success in Republican efforts to bring the bills to the floor for final passage.

Major Ethereum Whales Sell Off Amid Buying Trend

According to BlockBeats, recent monitoring by Lookonchain reveals that despite a trend of many whales purchasing Ethereum (ETH), two significant whales have sold a total of 178,080 ETH, valued at approximately $528 million.

Trend Research acquired 184,115 ETH at an average price of $2,118 per unit between February 26 and June 20, totaling $390 million. Over the past two days, they sold 79,470 ETH at an average price of $3,145, amounting to $250 million. They continue to hold 105,664 ETH, valued at $354 million.

Another whale, who previously profited over $30 million from ETH, purchased 132,536 ETH at an average price of $2,518 between June 11 and June 22, totaling $333.79 million. In the last eight days, this whale sold 98,610 ETH at an average price of $2,819, totaling $278 million. The address still retains 35,022 ETH, valued at $117.5 million.

SharpLink Gaming Increases Ethereum Holdings by 10,614 ETH

According to Foresight News, Onchain Lens monitoring reveals that SharpLink Gaming, a publicly listed company with Ethereum reserves, has increased its holdings by 10,614 ETH, valued at approximately $35.62 million. The company now possesses a total of 296,508 ETH, with an estimated value of $997 million.

Deutsche Bank Flags ETF Inflows as a Key Driver in Bitcoin’s 2025 Surge

Bitcoin’s strong rally in 2025 continues to draw institutional attention, with Deutsche Bank highlighting the growing role of spot bitcoin exchange traded funds as a major catalyst.

According to Deutsche Bank, U.S.-listed bitcoin ETFs have collectively attracted more than $35B in inflows this year alone, pushing cumulative totals past the $50B mark by mid-2025. A notable example occurred last Thursday, when over $1.17B flowed into bitcoin ETFs in a single day.

Beyond ETF flows, Deutsche Bank also outlined four additional drivers behind the cryptocurrency’s latest surge: a friendlier regulatory backdrop, broader adoption by long-term holders, rising interest in alternatives to the U.S. dollar, and ongoing advancements within the technology and crypto ecosystem. Bitcoin currently trades near $118.8K and is up nearly 26% for the year.

BTCS Shares Jump After Russell Index Inclusion

BTCS Inc. rose 21% on Wednesday and is set to  join the Russell Microcap Index as part of the index’s recent annual Russell reconstitution.

Prestigious ranking boosts visibility for the company’s unique growth and ETH-centric strategy.

Peter Thiel's 9.1% stake in Bitmine sparks 25% surge

BitMine Immersion Technologies Inc. rose 12% on Wednesday, after Peter Thiel acquired a 9.1% stake in the crypto-mining and treasury firm as it pivots toward becoming a leading Ethereum treasury.

The move, disclosed in a recent US SEC filing, signals a growing institutional appetite for Ethereum as a strategic asset.

Peter Thiel, co-founder of PayPal and Palantir Technologies Inc. acquired the stake in BitMine through Founders Fund Growth II Management. Thiel’s entities now hold roughly 5.09 million shares of the company.

Coinbase Rebrands Crypto Wallet App While Packaging Functions

Coinbase Global, Inc. is rebranding one of its primary apps as the largest US digital asset platform seeks to consolidate social, chat, payment and trading functions in one place for customers.

The Coinbase Wallet app will become Base App, the company said in a statement Wednesday. Coinbase launched the Base blockchain about two years ago, and it’s steadily grown in importance, generating millions in revenue and becoming central to its payments push. Last year, Jesse Pollack, who led Base’s development, joined Coinbase’s executive team and was appointed to lead Coinbase Wallet.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Wednesday was $799.40 million. The total net asset value of Bitcoin spot ETFs is $153.76 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.45%.

The Bitcoin spot ETF with the highest net inflow on Jul. 16 was iShares Bitcoin Trust ETF, with a net inflow of $763.89 million. Following that was ARK 21Shares Bitcoin ETF, with a net inflow of 19.82 million, according to SoSoValue.

SoSoValue