Societe Generale-FORGE plans to launch its new stablecoin, the USD CoinVertible, on both Ethereum and Solana blockchains. Trading for USDCV is scheduled to start in early July 2025. According to a recent press release, SG-FORGE, the integrated subsidiary of Societe…

Societe Generale-FORGE to launch new USD CoinVertible stablecoin on Ethereum and Solana

Bitcoin has retraced slightly after hitting a new all-time high near $123,000 
as miners appear to be locking in profits. Bitcoin (BTC) has dropped roughly 
5% from its most recent peak and is trading at about $117,538 as of press…

Bitcoin faces possible short-term pullback as miners take profit, but long-term uptrend still intact

The native token of Solana-based meme coin platform Pump.fun surged nearly 20% 
on July 16, briefly reaching a new all-time high following the launch of a 
large-scale buyback campaign. After reaching a high of $0.00681, PUMP is 
trading at about…

PUMP token jumps nearly 20% as issuer offers buyback mechanism

Cantor Fitzgerald is reportedly in talks with Adam Back co-founded blockchain 
company Blockstream, to acquire over $3 billion in Bitcoin through a SPAC 
deal. According to multiple news reports citing unnamed sources, Blockstream 
is expected to contribute up to 30,000…

Cantor Fitzgerald in talks to acquire $4B in Bitcoin from Blockstream

The odds are low that Bitcoin dominance will continue pushing higher if Ether 
holds its current bullish uptrend, says crypto analyst Matthew Hyland

‘99% chance’ Bitcoin dominance has peaked if Ethereum surge continues

Bitcoin&#8217;s recent price momentum has encountered a pause following the latest 
US Consumer Price Index (CPI) release, which showed inflation rising to 2.7% 
in June. The inflation increase appears to have affected investor sentiment. 
After reaching a new high above $123,000 on Monday, Bitcoin has since declined 
by roughly 5.4% from that peak, with its price currently trading just above 
$116,000. The broader crypto market also reacted to the news, with the global 
crypto market cap valuation dropping by nearly 7% in the past day amid renewed 
uncertainty about future interest rate policy. While Bitcoin has exhibited a 
strong uptrend in recent weeks, the latest pullback introduces short-term 
volatility that analysts are watching closely. One particularly notable 
development occurred on-chain: a transfer of 10,000 BTC, valued at roughly 
$1.2 billion, from a dormant address last active over a decade ago. Related 
Reading: The Bitcoin Liquidity Supercycle Has Just Begun, Says Hedge Fund CEO 
Historic Bitcoin Transfer Raises Eyebrows, but No Signs of Exchange Activity 
CryptoQuant analyst Carmelo Alemán shared insights into the large transaction 
in a recent post titled “10,000 Historic BTC Move On-Chain.” According to 
Alemán, the transaction occurred on July 14 at 16:17 UTC, moving 10,000 BTC 
from address &#8216;bc1q84…7ef6k &#8216; to &#8216;bc1qmu….8v2p.&#8217; These coins had not moved in 
over 10 years, indicating they likely originated from early miners during 
Bitcoin’s earliest phases when the block reward was 50 BTC. Alemán noted that 
such old unspent transaction outputs (UTXOs) often trigger concern about 
potential sell-offs, but in this case, further analysis suggests a more 
neutral interpretation. The movement of old coins can occur for various 
reasons, including UTXO consolidation, wallet upgrades, or potential sales. 
Alemán explained that this transfer displayed characteristics consistent with 
consolidation for efficiency and security purposes. For example, the 
transaction used 16 different inputs, which can help reduce future transaction 
fees. Additionally, no corresponding inflow to centralized exchanges (CEXs) 
was detected, typically a key signal when holders intend to liquidate. The 
analyst also pointed out that two small test transactions were sent to the 
receiving address before the full transfer. These included a 0.00089 BTC and a 
1 BTC transaction, commonly used to verify wallet accessibility before moving 
a large sum. Interestingly, two hours after the initial transaction, the same 
destination wallet received another transfer of 10,009 BTC, bringing the total 
to more than 20,000 BTC moved in the span of a few hours. Implications for 
Market Behavior and On-Chain Trends While the transaction did not lead to 
immediate market selling, it has added to ongoing discussions about the role 
of long-term holders in Bitcoin’s supply dynamics. Large transfers from early 
addresses are rare and often interpreted as strategic reorganization of funds. 
Alemán noted that the absence of exchange-related activity makes it unlikely 
that the coins are being liquidated in the short term. Related Reading: Spot 
Volume Drop on Binance Preceded Bitcoin’s Price Surge, Data Shows However, he 
cautioned that such movements warrant continued monitoring, particularly if 
additional large transfers follow or if the recipient wallet later transacts 
with exchanges. Featured image created with DALL-E, Chart from TradingView