Plasma, a startup focused on stablecoins, raised an impressive $500 million in its latest public token offering, far surpassing its initial target. On June 9, Plasma announced on X that its public token sale for XPL sold out in just…

Plasma raises $500m in oversubscribed XPL token sale for stablecoin-focused blockchain

PayPal co-founder Peter Thiel recently bought a 9.1% stake in Fundstrat&#8217;s 
Ethereum Treasury company, Bitmine Immersion Technologies, according to a 
recent SEC filing. The filed SEC document revealed that Peter Thiel has 
acquired 9.1% of the total shares to BMNR.…

Peter Thiel takes 9.1% stake in Tom Lee’s Ethereum treasury firm

A tax expert has warned traders, particularly those operating discreetly, 
about the upcoming requirement to file Form 1099-DA starting in 2026. The 
expert also highlights the importance of reporting, even if one disagrees with 
the 1099-DA, to avoid being flagged for underreporting. IRS to Track Crypto 
Across Wallets and Chains A cryptocurrency capital gains expert […]

IRS Mapping Wallet Activity Across Chains—Expert Says It’s Time to Prepare

DeFi hasn’t ever needed to outcompete TradFi to win: it has just needed to 
cooperate with it, and that reckoning is here to stay.

DeFi must prepare for its next stage: The convergence of smart money and blockchains | Opinion

Crypto criminals are using cross-chain tools like bridges, DEXs and coin 
swappers to obscure $21.8B in illicit flows across multiple blockchains.

Crosschain swaps move $21B in illicit funds, up 200% in two years: Elliptic

The Bitcoin price has slipped under $117,000 as on-chain data shows the network has observed one of its largest profit realization days of the year. Bitcoin Long-Term Holders Did The Major Share Of Profit-Taking In a new post on X, the on-chain analytics firm Glassnode has talked about the latest trend in the Bitcoin Realized Profit indicator for the short-term holders and long-term holders. The &#8220;Realized Profit&#8221; measures, as its name suggests, the total amount of profit that the BTC investors are realizing through their transactions. The metric works by going through the transfer history of each coin being sold to see what price it was moved at prior to this. The difference between that previous price and the current selling price denote the amount of profit or loss involved in the sale. Related Reading: Strategy Grabs Another $472M In Bitcoin—Even With Price At ATH Naturally, the sale realizes a gain if the difference is positive. The Realized Profit adds up this value involved in all transactions of the type occurring on the blockchain. Another indicator known as the Realized Loss keeps track of the sales of the opposite type. In the context of the current discussion, the Realized Profit of two specific segments of the sector is of interest: short-term holders (STHs) and long-term holders (LTHs). Investors are divided into these groups based on the basis of holding time. More particularly, holders who have been carrying their coins for 155 days or less are put in the STHs and those who have made it past this threshold are considered LTHs. Below is the chart shared by Glassnode that shows the trend in the Realized Profit for the two sides of the Bitcoin market. As displayed in the graph, the Bitcoin Realized Profit has seen spikes for both of these groups during the last 24 hours, implying investors across the market have harvested gains taking advantage of the rally to the new all-time high (ATH) above $123,000. In total, the holders took profits equal to $3.5 billion inside this window, making the profit-taking event one of the largest for the year. Interestingly, the LTHs occupied for a higher share ($1.96 billion or 56%) of the profit realization than the STHs ($1.54 billion or 44%). Generally, the longer an investor holds onto their coins, the less likely they become to sell them. As such, the LTHs with their relatively long holding time are considered to represent the resolute side of the market. Related Reading: Bitcoin Returns Under $117,000: Is Social Media FOMO To Blame? Despite their strong resolve, however, it seems the latest Bitcoin price surge provided a temptation strong enough for even these diamond hands to be swayed. The result of the selloff has so far appeared to be a price decline to levels below $117,000. BTC Price At the time of writing, Bitcoin is floating around $116,700, up over 7% in the last week. Looks like the price of the asset has seen a plunge during the last 24 hours | Source: BTCUSDT on TradingView Featured image from Dall-E, Glassnode.com, chart from TradingView.com