Useless Coin has emerged as a surprising outlier in a bearish crypto landscape, surging over 1,700% in June even as broader Solana meme coins and blue-chip tokens like Bitcoin retreat.

Useless Coin price surges as smart money investors buy

The Bitcoin price action in June has displayed healthy swings from a low of 
about $100,500 to as high as $111,000. While it has lacked the impulsive 
momentum seen in past cycles for more bullish swings, the premier 
cryptocurrency has managed to maintain its valuation above $100,000. Over the 
past week, BTC has displayed relative price stability, with modest bullish 
movement at intervals. The cryptocurrency continued to trade within a tight 
range for most of the week, mirroring a mix of optimism and caution amongst 
market participants. Active Addresses Mirror 2020 Levels In a June 20 post on 
social media platform X, on-chain analytics firm Alphractal published its 
recent findings on the Bitcoin active addresses, revealing that the flagship 
cryptocurrency does not show an indication of market euphoria. Related 
Reading: Bitcoin Price Bottoms Out? Recovery Hopes Rise After Base Formation 
The relevant on-chain indicator here is the Active Addresses metric, which 
measures the number of unique addresses that are active on the Bitcoin network 
within a specific timeframe. To be clear, an address is “active” if it is 
receiving and sending Bitcoin during a particular period. The chart shared by 
Alphractal shows that active addresses are at the same level as in 2020. The 
analytics firm pointed out that as of 2020, the market was facing political 
uncertainty, dealing with a global pandemic, and widespread social fear, as 
the effects on market engagement are what is currently being witnessed. In the 
post on X, Alphractal highlighted two possible reasons for this seeming lack 
of enthusiasm seen in investors. Firstly, the market intelligence firm noted 
that investors might have become disillusioned with all that is currently 
happening in the crypto market, regardless of Bitcoin&#8217;s value comfortably 
being above $100,000. On the other hand, Alphractal put forward the 
possibility that this relative inactivity could be a result of a strong long- 
term conviction in the flagship cryptocurrency as a store of value. However, 
this second reasoning was immediately put down by Alphractal as readings from 
two other indicators — the on-chain volume and spot volume — are both low, 
indicating little global interest in the cryptocurrency. As Bitcoin still 
prevails above $100,000, this could be a strong indication, Alphractal 
explained, “that only the most resilient are taking advantage of the long- 
awaited $100k per BTC.” Bitcoin Price At A Glance As of this writing, Bitcoin 
is valued at about $103,290, reflecting an over 1% price decline in the past 
24 hours. According to data from CoinGecko, the price of BTC has fallen by 
about 2.4% in value over the past seven days. Related Reading: Solana Analyst 
Sees $123 And $116 As Mid-Zone Support Levels – Here’s Why Featured image from 
iStock, chart from TradingView

Bitcoin Active Addresses At 2020 Level — What’s Happening?

As pressure mounts from advancing AI, age verification laws, and bot-related 
abuse, Reddit is exploring a partnership with Sam Altman’s World ID to verify 
users while preserving anonymity. The biometric system, which scans irises 
without storing personal data, could help…

The eyes have it: Reddit considers World ID iris scan, so users can prove they’re human

SEI and KAIA tokens extend gains on Friday as Bitcoin consolidates under 
$105,000. The crypto market has now absorbed a barrage of missiles and tariff 
uncertainties in the past two months, testing the resilience of retail and 
institutional traders. SEI and KAIA could extend their gains next week if 
altcoins survive the impact from the quadruple witching on Friday.

Chart of the week: SEI and KAIA eye potential bullish breakout

While bitcoin has held its ground above the $100,000 threshold for 45 straight 
days, it has experienced a modest dip since June 16, when it peaked at 
$108,990 per coin. Even with the price slipping into the $103,000 to $105,000 
band, a wave of long-dormant wallets from 2017 has stirred to life, unloading 
801.58 BTC […]

Dormant Bitcoin From 2017 Stirs After 8 Years of Silence—801 BTC Just Moved in 72 Hours

Bitcoin’s AVIV ratio and power law model point to a $330,000 cycle top for BTC 
price.