Millions of weed-themed NFTs themed around American rap legend Snoop Dogg sold out on Telegram just 30 minutes after launch. According to Telegram CEO Pavel Durov, the collection generated $12 million in sales and included roughly 1 million NFTs minted…

Puff, puff, Pavel Durov? Snoop Dogg launches weed-themed NFT drop on Telegram

Another bitcoin mining firm is pivoting. Bit Mining Limited announced a 
strategic expansion into the Solana ecosystem, planning a treasury of SOL 
tokens worth up to $300 million to fuel the company’s shift. Bit Mining 
Allocates Up to $300M for Solana Integration The NYSE-listed cryptocurrency 
mining company said this move aims to capture opportunities across […]

Bit Mining Shifts Strategy, Enters Solana Ecosystem With $300M Plan

SUI broke out of an inverse head-and-shoulders pattern, opening the door for a 
rally to $3.89.

SUI bullish chart pattern confirmation sets breakout target at $3.89

Jonathan Gould will return to the OCC as Comptroller of the Currency to serve 
a five-year term following his nomination by US President Donald Trump.

US Senate confirms ex-Bitfury exec to lead OCC banking regulator

Nicholas Truglia was initially sentenced to 18 months behind bars for carrying 
out SIM-swapping attacks against crypto investors.

Crypto scammer's sentence bumped to 12 years from 18 months for welshing on debt

Bitcoin has set a new all-time high (ATH) above $112,000, and if on-chain data 
is to go by, there is some real conviction behind the move. Bitcoin Realized 
Cap Shows ATH Breakout Not Just Speculative In a new post on X, the on-chain 
analytics firm Glassnode has talked about the latest trend in the &#8220;Realized 
Cap&#8221; of Bitcoin. The Realized Cap is a capitalization model that calculates 
the asset&#8217;s total value by assuming that the &#8216;true&#8217; value of each coin in 
circulation is equal to the price at which it was last transacted on the 
network. Related Reading: Bitcoin Moving With Stocks, But Ethereum’s 
Correlation Is Fading This is different from the methodology that the usual 
market cap employs, where all tokens part of the supply are assigned the same 
value: the current Bitcoin spot price. The last transaction of any token is 
likely to represent the last time that it changed hands on the network, so the 
price at that time could be considered as its current cost basis. Since the 
Realized Cap sums up this value for all coins, its value essentially 
represents a net cost basis for the entire supply. In other words, the model 
can be looked at as a measure of the amount of capital that the investors as a 
whole have put into the cryptocurrency. In contrast, the market cap is the 
value that the holders are carrying in the present. During the past day, the 
Bitcoin market cap saw a surge as the spot price set a new record. But what 
about the Realized Cap? &#8220;Unlike market cap, Realized Cap reflects actual 
capital inflows &#8211; only rising when coins move at higher prices,&#8221; notes the 
analytics firm. Here is the chart shared by Glassnode, showing whether or not 
real capital inflows occurred for Bitcoin with this rally: As displayed in the 
above graph, the Bitcoin Realized Cap has been following an upward trajectory 
for a while now, suggesting capital inflows have been coming into the asset. 
With the latest price surge, too, the metric has seen a leg up, corresponding 
to a whopping $4.4 billion flowing into the coin. &#8220;The $4.4B jump as $BTC 
broke a new ATH above $112K confirms real conviction behind the move, not just 
speculative markup,&#8221; explains the analytics firm. In some other news, the 
Bitcoin Market Value to Realized Value (MVRV) Ratio is currently sitting 
around the 2.25 mark, as CryptoQuant author Axel Adler Jr has pointed out in 
an X post. The MVRV Ratio measures the ratio between the Bitcoin market cap 
and Realized Cap. From the chart, it&#8217;s visible that BTC encountered resistance 
the last few times the metric hit a value around 2.75. Related Reading: 
Bitcoin &amp; Stablecoin Reserves Diverge On Binance: Liquidity Explosion Brewing? 
Right now, the 2.75 level corresponds to a spot price of $130,900. &#8220;This will 
essentially be the first selling pressure point,&#8221; says the analyst. BTC Price 
Bitcoin has seen some pullback since its ATH as its price has come back down 
to $110,900. Featured image from Dall-E, CryptoQuant.com, Glassnode.com, chart 
from TradingView.com