Meanwhile, bitcoin is taking a leisurely stroll with just a slight uptick to an annualized implied volatility of 46%. Anticipating a more gentle bump of around 6%, it seems our favorite cryptocurrency is on vacation while XRP is racing the Indy 500! 🏎️
Source – Farside Investors
One of the most intriguing developments behind this surge is the increased activity from so-called “accumulator” addresses. According to top analyst Darkfost, these wallets, known for their relentless accumulation of BTC without a single sell order, have hit a new record high in 2025. These addresses are often associated with high-conviction holders, including long-term retail investors, institutional participants, and funds with a strategic vision. 🕵️♂️
These memecoins, forever wading in the murky waters of excitement and purpose, now face their reckoning. Take Floki [FLOKI], with its grand aspirations of FlokiFi; it’s like a puppy trying to bark its way into the world of serious finance. Is it bringing in the bacon, or just barking up the wrong tree? 🐶💔
According to Coinbase’s chief legal officer, Paul Grewal, the exchange played no part in the Bloomberg piece. He stated on X that Coinbase “absolutely did not contribute to this story.”
In a recent press release, it was announced that Sonnet BioTherapeutics, a Nasdaq-listed biotech firm, has agreed to an $888 million business combination with Rorschach I LLC, a newly formed entity backed by Atlas Merchant Capital and Paradigm. This bold move will see Sonnet pivot into a crypto treasury strategy, leaving behind its traditional biotech roots.
Lo and behold, a Form 8-K, the kind of document that makes accountants weak in the knees, graced the desks of the U.S. Securities and Exchange Commission on July 14. It revealed that our strategy maestro acquired 4,225 Bitcoin (BTC) between July 7 and July 13, all for the princely sum of $472.5 million—meaning they paid a heart-stopping average of $111,827 per coin. How’s that for a party trick? 🥳
Now, don’t get too excited just yet. The official documents won’t see the light of day until the U.S. Securities and Exchange Commission (SEC) finishes their little inspection. You know how these things go—more delays than a snail on a treadmill. 🐌
According to the trusty Shibariumscan, the total number of blocks has skyrocketed to a whopping 12,009,576! 🚀 That’s a jolly impressive figure, if we do say so ourselves. And what’s behind this remarkable growth, you ask? Why, it’s those speedy blocks, of course! Shibarium’s average block production time is a mere five seconds, making it the cat’s pajamas among L2 protocols! 🐈
Bitcoin’s new highs above $122,000 translate to 29% year-to-date gains, overtaking gold’s 27%.
