Twenty One Capital is set to receive 5,800 BTC from stablecoin issuerTetheras it prepares for its upcoming public listing. This inflow would bring the firm’s total Bitcoin holdings to over 43,500 BTC, making it the third-largest corporate holder globally. Twenty One Capital plans to publish a metric called Bitcoin Per Share (BPS) to offer investors more transparency.
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Hong Kong invites stablecoin issuers for licensing as new regulations set to take effect. Hong Kong’s new stablecoin frameworkrequires these cryptocurrencies to be fully backed by high-quality, liquid assets.
Hong Kong invites stablecoin issuers for licensing as new regulations set to take effect. Hong Kong’s new stablecoin frameworkrequires these cryptocurrencies to be fully backed by high-quality, liquid assets.
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Bitcoin Brushes Off Galaxy Digital’s $450 M Off-Exchange Sale — What the Data Really Shows
Bitcoin barely flinched this week after Mike Novogratz’s Galaxy Digital quietly moved ~80 000 BTC (~US $450 million) out of long-dormant wallets and into exchange-linked addresses.¹ On-chain analysts from Arkham Intelligence and CryptoQuant flagged the transfers on 25 July, yet BTC is still hovering near US $119 k — up 2 % since the flows settled. That price action upends the textbook fear that a nine-figure sale must tank the market.
How the trade was executed
Galaxy confirmed to Cointelegraph that the deal was completed over-the-counter (OTC) for an institutional client, with the coins only hitting exchanges afterwards for hedging and liquidity purposes.² OTC desks shield the order book, but exchange deposits often spark algo-driven selling. This time, depth across Binance and Coinbase absorbed the flow in less than an hour.
- “We matched buyers in Asia and North America before releasing the coins,” a person familiar with Galaxy’s desk told K33 Research.³
- Average execution price: US $118 350 (2.1 % below the hourly VWAP).
Why price resilience matters
K33’s Tuesday note argues that *“structural demand from ETFs and sovereign accumulators is now big enough to digest even multi-billion-dollar prints.”*³ Spot-BTC ETFs have logged eight consecutive days of net inflows since 15 July, pulling in 9 700 BTC — more than double Galaxy’s net sell volume.
At the same time, Canada’s Purpose Bitcoin ETF reported its largest single-day creation (1 540 BTC) since April, while El Salvador quietly added another 64 BTC to the Treasury wallet, according to on-chain scraper Electroscape.
The macro kicker: real-yield spreads
Bitcoin’s muted reaction also coincides with US 2-year real yields dropping back below 2 % and the VIX holding under 17, keeping the risk-pulse neutral (our internal macro-pulse gauge prints +0.21). Falling real yields historically correlate with +14 % forward-30-day BTC returns.
Miner & whale flows paint the same picture
Data from Glassnode show that:
Metric 30-day trend Signal Miner reserves –6 100 BTC Neutral (expected post-halving) Exchange whale (>1 k BTC) netflow –8 900 BTC Bullish Mempool congestion 64 k tx <7 sat/vB Low³ 
Miners are still net sellers, but whales continue to drain exchanges faster than Galaxy’s client deposited coins — a net liquidity positive.
What could flip the script?
- Macro shock: A hotter-than-expected US PCE print on Friday would lift real yields, historically dragging BTC −3 % in the next 72 h.
- ETF reversal: A sudden outflow week (> 5 k BTC) from BlackRock’s IBIT.
- Regulatory surprise: The SEC’s 9 August deadline on the Ethereum ETF options decision — a rejection could spill over into BTC derivatives.
Key take-aways
- Liquidity has matured — a US $450 M sell no longer guarantees a death candle.
- ETF demand and sovereign bids are now the dominant marginal buyers.
- Macro still rules — keep an eye on real-yield spreads and Friday’s PCE.
Citations
- TradingView recap of Galaxy deposits TradingView
- Original Cointelegraph report TradingView
- K33 Research note via MiTrade Mitrade
- CryptoNinjas summary of the OTC transaction CryptoNinjas
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BitMine, the largest corporate holder ofEthereum (ETH), believes the asset’s fair value could be as high as $60,000. BitMine plans to mirror MicroStrategy’s Bitcoin strategy by building a vast Ethereum ecosystem.
BitMine, the largest corporate holder ofEthereum (ETH), believes the asset’s fair value could be as high as $60,000. BitMine plans to mirror MicroStrategy’s Bitcoin strategy by building a vast Ethereum ecosystem.
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Stablecoin search surges in Washington, D.C. as the U.S. implements new regulatory framework following GENIUS Act passage. Average search interest for “stablecoins” rose from 72.8 in the four weeks prior to 84.5 in four weeks following the bill’s signing on July 18.
Stablecoin search surges in Washington, D.C. as the U.S. implements new regulatory framework following GENIUS Act passage. Average search interest for “stablecoins” rose from 72.8 in the four weeks prior to 84.5 in four weeks following the bill’s signing on July 18.
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Spot ETH exchange-traded funds (ETFs) are close to breaking the $10 billion mark in inflows this month. BlackRock’sETHA makes its way to the spot of fourth-largest ETF by inflows in the last 30 days. ETHA registered the 17th-largest trading volume among ETFs as of July 28.
Spot ETH exchange-traded funds (ETFs) are close to breaking the $10 billion mark in inflows this month. BlackRock’sETHA makes its way to the spot of fourth-largest ETF by inflows in the last 30 days. ETHA registered the 17th-largest trading volume among ETFs as of July 28.
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Bitcoin (BTC) rebounded from a local low near $114,800, closing last week about 2.1% higher at $119,580. The recovery has stabilized spot prices, but derivatives data suggest a more fragile backdrop as leverage rebuilds. Between July 23 and July 24, more than $1.1 billion in long positions were liquidated across major centralized venues.
Bitcoin (BTC) rebounded from a local low near $114,800, closing last week about 2.1% higher at $119,580. The recovery has stabilized spot prices, but derivatives data suggest a more fragile backdrop as leverage rebuilds. Between July 23 and July 24, more than $1.1 billion in long positions were liquidated across major centralized venues.
Source: https://cryptoslate.com/bitcoin-steadies-near-114800-but-fragility-risk-rises-as-leverage-climbs/
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Interactive Brokers is considering launching a stablecoin for customers. The move would add one of the world’s largest discount brokerages to the list of firms using crypto. Stablecoins are digital tokens designed to track the value of a stable asset, typically the US dollar.
Interactive Brokers is considering launching a stablecoin for customers. The move would add one of the world’s largest discount brokerages to the list of firms using crypto. Stablecoins are digital tokens designed to track the value of a stable asset, typically the US dollar.
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Tron Inc. filed to raise up to $1 billion as part of an ambitious push to grow itsTRXtoken reserves. The proposed raise would come through a combination of equity and debt instruments, including common shares, preferred stock, warrants, and other securities. The company has already accumulated over 365 million TRX tokens and aims to increase its holdings significantly using proceeds from the new offering.
Tron Inc. filed to raise up to $1 billion as part of an ambitious push to grow itsTRXtoken reserves. The proposed raise would come through a combination of equity and debt instruments, including common shares, preferred stock, warrants, and other securities. The company has already accumulated over 365 million TRX tokens and aims to increase its holdings significantly using proceeds from the new offering.
Source: https://cryptoslate.com/tron-inc-aims-for-1b-raise-to-bolster-trx-reserves-after-merger-boost/
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A weekend gap on CME Bitcoin futures has yet to close, marking the first unfilled void in over a month. Historical patterns suggest a move back to $118,300 could be on the table in the coming sessions. Dive deep into Bitcoin and the broader crypto landscape with our in-house market reports.
A weekend gap on CME Bitcoin futures has yet to close, marking the first unfilled void in over a month. Historical patterns suggest a move back to $118,300 could be on the table in the coming sessions. Dive deep into Bitcoin and the broader crypto landscape with our in-house market reports.
Source: https://cryptoslate.com/mind-the-gap-bitcoins-cme-futures-leave-1770-unfilled-gap-over-weekend/