Author: Monicah W

A massive Bitcoin transfer involving $8.6 billion worth of BTC, spread across eight wallets untouched for over 14 years, has ignited a wave of speculation within the crypto community.

The transfer, which occurred on July 4, involved the movement of 80,009 BTC. This raised concerns about potential market impact, and possibilities of a government settlement deal, or even a hack.

Arkham Suggests $8.6 Billion Bitcoin Move Was a Wallet Upgrade

Arkham Intelligence, an on-chain analytics firm, believes the transfer was likely triggered by a wallet upgrade, not a liquidation.

In a July 5 statement, Arkham dismissed speculation of a selloff, clarifying that the assets moved from legacy 1- addresses to modern bc1q- SegWit addresses. This transition boosts transaction efficiency and reduces network fees.

The coins in question were initially deposited between April and May 2011, a period when Bitcoin was still trading below $1.

Now, more than a decade later, Arkham views the funds’ spread across eight wallets as a technical realignment rather than a market-moving event.

Notably, Bitcoin’s price remained stable after the transfers, further supporting Arkham’s interpretation.

Other Theories Surrounding the Transactions

While Arkham pointed to a benign explanation, others in the industry raised more provocative possibilities.

Cathie Wood, CEO of Ark Invest, questioned the transactions’ nature and suggested that the move might be tied to a government settlement.

She noted that the Bitcoin market’s swift stabilization might indicate that the transaction was part of a larger institutional move.

“The Bitcoin market stabilized fairly quickly, so could this block be part of a government settlement deal? Is it now part of a government Treasury,” Wood wondered.

Meanwhile, Coinbase executive Conor Grogan floated another theory about those transfers by suggesting the possibility of a hack.

He observed that one of the wallets sent a small Bitcoin Cash transaction 14 hours before the larger Bitcoin transfer. According to him, this is a potential sign of a quiet key test before the larger transactions.

“There is a possibility that the owner was testing the private key in a way that wouldn’t get noticed, as BCH isn’t monitored heavily by whale watching services What makes me say this is the other BCH wallets have not been touched at all; why wouldn’t they also sweep these?” he wrote.

However, Grogan stressed that his theory remains speculative but noted that if confirmed, it could mark the largest theft in crypto history.

Adding to the mystery, 10x Research has implied the wallets may be connected to early Bitcoin investor Roger Ver.

According to the firm, speculators noted that the timing of the transaction aligns with Ver’s early involvement in Bitcoin. They also pointed to his recent release from detention as another indication of his possible involvement with the assets.

“He was released on bail from Spanish prison on June 5 and those Bitcoins last moved in May 2011 while Roger got into Bitcoin in February 2011. He will certainly have billions of dollars worth of Bitcoins,” 10x Research said.

Though no direct evidence confirms his involvement, the coincidence has fueled further debate within the community.

The true reason behind the $8.6 billion transfer remains unclear for now. However, it is certain that their reawakening has sparked renewed conversations in the industry.

The post Hack, Government Deal, or Upgrade? $8.6 Billion Bitcoin Transfer Sparks Theories appeared first on BeInCrypto.

The meme coin market has witnessed a steady resurgence over the past few weeks. Since June 23, the total market capitalization of memecoins has jumped by over 13%, reflecting a gradual regrowth.

Bonk.Fun, a Solana-based platform that allows anyone to create and trade meme tokens, is at the heart of this recent surge. Some meme coins within its ecosystem have posted significant gains over the past week, making them the ones to watch in the new trading week. 

Useless Coin (USELESS)

Readings from the USELESS/USD one-day chart show that the meme coin has recorded new daily price peaks since June 5. Currently trading at $0.29, USELESS’ price has rocketed by over 740% in the past month. 

The token’s rising Chaikin Money Flow (CMF) confirms that USELESS’ price rally is backed by significant buy-side pressure. This momentum indicator, which measures how money flows into and out of an asset, is at 0.13 and rising.

A positive CMF reading like this indicates strong bullish pressure in the market. If buying activity continues, USELESS could revisit its all-time high of $0.305.

On the other hand, if profit-taking spikes, the token’s price could fall to $0.234.

HOSICO

HOSICO is another BONK ecosystem meme coin to watch out for this week. It is up 135% over the past week to trade at $0.067 at press time. 

Despite the broader market’s pullback, HOSICO has logged 16% gains over the past 24 hours. For context, the altcoin has briefly traded at an all-time high of $0.069 during today’s session. 

As of this writing, its daily trading volume has climbed 30% to reach $12 million. When an asset’s price and trading volume spike simultaneously, it signals strong market interest and increased trading activity. A rising price with high volume suggests that the uptrend is supported by genuine demand.

This combination is a sign of strength in the HOSICO market and could push its price to new highs in the near term. If token accumulation continues, HOSICO’s price could reclaim its all-time high and surge past it.

However, if demand falls, the meme coin’s price could dip to $0.055.

Let’s BONK (LetsBONK)

LetsBONK is up 239% in the last seven days, making it one of the BONK ecosystem meme coins to watch. As of this writing, the token’s Aroon Up Line is 100%. This means its uptrend is strong and not driven by speculative trades. 

An asset’s Aroon Indicator measures the strength and direction of a trend by tracking the time since the highest and lowest prices over a given period. It comprises two lines: Aroon Up, which measures bullish momentum, and Aroon Down, which tracks bearish pressure. 

As with LetsBONK, when the Aroon Up line is at 100, the asset has recently hit a new high, signaling strong upward momentum. If demand strengthens further, LetsBONK’s price could reach $0.127 and attempt to break above it.

Conversely, the token’s price could dip to $0.084 if demand declines.

The post 3 Bonk Ecosystem Meme Coins to Watch This Week appeared first on BeInCrypto.

As we enter the second week of July, the crypto market braces for a wave of token unlocks. This week, three major ecosystems, Cheelee (CHEEL), Immutable X (IMX), and Aptos (APT), are set to unleash significant new token supply.

Here is a breakdown of what to watch for each project.

1. Aptos (APT)

• Unlock Date: July 12
• Number of Tokens to be Unlocked: 11.31 million APT (0.98% of Total Supply)
• Current Circulating Supply: 644.5 million APT
• Total supply: 1.15 billion APT

Aptos is a layer-1 blockchain that uses the Move programming language by Facebook (Meta). The primary objective of Aptos is to provide users with higher scalability, security, usability, and reliability.

On July 12, the network will release 11.31 million APT into the crypto market. The tokens are worth $50 million and represent 1.75% of the current circulating supply. Aptos will award the majority of these tokens to the community and allocate about 10% of the unlocked tokens to staking rewards.

2. Immutable (IMX)

• Unlock Date: July 11
• Number of Tokens to be Unlocked: 124.52 million IMX (1.23% of Total Supply)
• Current Circulating Supply: 1.8 billion IMX
• Total supply: 2 billion IMX

Immutable X is Ethereum’s Layer-2 scaling solution designed specifically for NFTs, leveraging zero-knowledge rollups.
It enables gas-free NFT minting and trading, offering instant trade finality and high throughput of over 9,000 transactions per second.

Immutable will unlock 124 million IMX tokens on July 11, worth over $10 million. This represents 1.31% of Immutable’s total market cap. The project will allocate the majority of the unlocked tokens for ecosystem development. About 5% of the unlocked tokens allotted for public sale as well.

3. Cheelee (CHEEL)

• Unlock Date: July 10
• Number of Tokens to be Unlocked: 2.67 million CHEEL (0.27% of Total Supply)
• Total supply: 1 billion CHEEL

Cheelee is a social media platform that rewards users and creators for watching and producing content. It also features an NFT ecosystem, allowing users to buy, sell, upgrade, mint, stake, and collect NFT Glasses. The platform uses its native token, CHEEL, for governance, NFT upgrades, and in-app transactions.

Cheelee will unlock 2.67 million CHEEL tokens on July 10, with a total value of approximately $13.4 million.

The platform will assign most of the unlocked tokens as Cheelee rewards.

Other prominent token unlocks that investors can look out for this week include Delysium (AGI), Moca (MOCA), and Xave (XAV).

The post 3 Token Unlocks for the Second Week of July appeared first on BeInCrypto.

Elon Musk, the billionaire entrepreneur and CEO of Tesla and SpaceX, has confirmed that his newly formed America Party will adopt Bitcoin ( BTC). 

He also dismissed traditional fiat currency as ‘hopeless.’ The statement was made in response to a query on X (formerly Twitter).

Musk’s America Party to Embrace Bitcoin

The announcement follows Musk’s public rift with President Donald Trump over the ‘big beautiful bill,’ which prompted the creation of the America Party. Musk, who has been a major financial backer of Trump’s campaigns, has criticized the legislation as economically detrimental.

Fiat is hopeless, so yes

— Elon Musk (@elonmusk) July 7, 2025

Meanwhile, Musk’s support for crypto isn’t new. The CEO has been a vocal supporter of Dogecoin (DOGE), with his posts often causing price rallies for the meme coin.

The post Elon Musk Confirms America Party’s Commitment to Bitcoin, Calls Fiat ‘Hopeless’ appeared first on BeInCrypto.