Author: Monicah W

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FTX Files Lawsuits Against NFT Stars and Kurosemi in Asset Recovery Push

Monicah W

Defunct cryptocurrency exchange FTX has filed lawsuits against NFT Stars Limited and Kurosemi Inc., the operator of the Delysium platform, as part of its ongoing efforts to recover assets for creditor payouts. 

The legal actions announced by FTX and its recovery trust are in response to the companies’ alleged failure to deliver tokens as stipulated in prior contractual agreements.

FTX Initiates Legal Action to Recover Assets 

According to the latest press release, the exchange attempted non-litigation negotiations with both entities multiple times. Nonetheless, these efforts were unsuccessful. 

In addition to the current legal actions, FTX revealed that it is also engaging with several other token issuers to recover assets. The company added that further lawsuits will be filed against those who fail to cooperate. 

“We urge token and coin issuers to return assets that rightfully belong to FTX, and are willing to initiate litigation barring adequate engagement. Our team continues to work tirelessly to maximize recoveries for the FTX Estate and return funds to creditors, including by filing two complaints against issuers who have repeatedly ignored our attempts to engage,” The FTX Estate’s statement read.

The lawsuits mark a significant escalation in FTX’s strategy to reclaim assets following its bankruptcy filing in November 2022. A liquidity crisis and the revelation of an $8 billion shortfall in its accounts triggered the exchange’s collapse.

On February 18, 2025, FTX started its initial distributions of recovered funds. The initial round of payments was made to holders of approved claims in FTX’s Convenience Class. FTX also announced that the next distribution record date will be April 11, with payments expected to begin on May 30. 

This second round of payments will include Class 5 Customer Entitlement Claims, Class 6 General Unsecured Claims, and additional Convenience Claims approved since the initial record date. This distribution is part of a broader plan to repay creditors.

Last month, FTX suffered another setback as Three Arrows Capital’s (3AC) claim was raised from $120 million to $1.5 billion. The amendment followed new findings about 3AC’s extensive dealings with FTX. It was approved despite objections from FTX.

Meanwhile, FTX’s collapse serves as a reminder of the systemic risks in the crypto industry. To avoid similar situations, US Senators have proposed the PROOF Act earlier this month.

The bill mandates that crypto exchanges keep customer funds separate from institutional assets. It also requires exchanges to submit monthly audits, called “Proof of Reserves,” conducted by neutral third-party firms. This aims to ensure transparency, verify asset availability, and enhance consumer protection.

The post FTX Files Lawsuits Against NFT Stars and Kurosemi in Asset Recovery Push appeared first on BeInCrypto.

Arizona Passes Bill To Create Strategic Bitcoin Reserve

Monicah W

Arizona Passes Bill To Create Strategic Bitcoin Reserve

Arizona has moved closer to establishing the first Bitcoin reserve at the state level in the United States. Lawmakers passed two key bills allowing up to 10% of public funds to be invested in Bitcoin and other digital assets. The bills now await the signature of Governor Katie Hobbs to become law.

Arizona Legislature Advances Bitcoin Reserve Bills

On April 28, the Arizona House of Representatives voted on Senate Bill 1025 (SB1025) and Senate Bill 1373 (SB1373). SB1025, which amends state statutes to permit a strategic Bitcoin reserve, passed with 31 votes in favor and 25 against. SB1373, which proposes a broader digital asset reserve, passed with 37 votes in favor and 19 opposed.

State Representative Jeff Weninger explained that the bill provides authority to invest up to 10% of public funds in Bitcoin and potentially other cryptocurrencies. “I think this probably would start as a ‘may’ for the foreseeable future,” Weninger said during discussions.

Arizona’s bills place it ahead of several other U.S. states considering similar legislation. If signed into law, Arizona could become the first state to formally hold Bitcoin as a strategic asset despite criticism from economists like Peter Schiff.

Governor’s Decision Will Determine Final Outcome

Democrat Governor Katie Hobbs has earlier on declared her position as being against any bill signing until a solution on disability funding was reached by the two chambers. Nevertheless, with the recent development on the funding legislation, she has been under pressure to pass the Bitcoin reserve bills.

According to Dennis Porter, the CEO of the Satoshi Action Fund, the American voters should convince their leaders to hold strategic Bitcoin reserves. Porter underlined the need to continue the process as the legislations have passed through different legislative processes.

A decision from Governor Hobbs will be necessary for the legalization of Bitcoin in managing and investing the state’s funds in Arizona. Some pundits explain that investing in Bitcoin offers protection from inflation and other macroeconomic factors.

Elsewhere, the Chairman of the Swiss National Bank, Martin Schlegel said that Switzerland will not invest in Bitcoin as a reserve currency. Schlegel provided a number of arguments against the use of Bitcoin for long-term reserves, including crisis-related liquidity issues and high volatility.

Global Trends on Government Bitcoin Holdings

Arizona’s legislative push comes at a time when global government Bitcoin holdings are declining. According to a CoinGecko report published in April 2025, governments’ collective Bitcoin reserves dropped from 529,591 BTC in July 2024 to 463,741 BTC.

The U.S. remains the largest government holder with 198,012 BTC, despite recent asset liquidations. China follows with 194,000 BTC, primarily from the 2019 PlusToken Ponzi scheme seizures. The United Kingdom holds around 61,000 BTC, mostly acquired through criminal seizures, while Bhutan has mined its way to 8,594 BTC.

El Salvador continues its Bitcoin accumulation policy under President Nayib Bukele. The country now holds 6,135 BTC, with Bukele announcing daily purchases of Bitcoin for the national reserve.

Meanwhile, at the corporate level, MicroStrategy announced a new acquisition of 15,355 BTC for $1.42 billion. The company’s total Bitcoin holdings now stand at 553,555 BTC, valued at approximately $52.76 billion.

The post Arizona Passes Bill To Create Strategic Bitcoin Reserve appeared first on CoinGape.

Mastercard Unveils New Solution To Power Stablecoin Transactions

Monicah W

Mastercard Unveils New Solution To Power Stablecoin Transactions

With its new solution, American fintech giant Mastercard is deepening its ties in the stablecoin and blockchain ecosystem. As announced on April 28, the firm now has end-to-end capabilities that support stablecoins. This is a complement to its earlier push for the technology, at a time when regulatory push has taken a new leap globally.

The Mastercard Stablecoin Solution

The fintech giant said it is advancing the future of payments through stablecoin acceptance and general capabilities. As the company highlighted, the tokens in this niche are evolving from crypto trading tools to solutions that can bring programmability to payments.

The company revealed its recent partnerships with crypto firms to showcase its plans to support the asset class. These partnerships have given the company an integrated 360-degree approach to ensuring stablecoin adoption by businesses.

First, it spotlighted its partnership with MetaMask, Kraken and other crypto exchanges. These partnerships allow users to enter the industry to earn rewards, pay and spend stable tokens through wallets. 

In addition, it reiterated its partnership with merchants like Nuvei, Circle, Paxos, and OKX to enhance the tokens’ overall functionalities. Mastercard plans to lead crypto innovations continually, believing the current approach can make it a major leap.

The Stablecoin Market Outlook

At the moment, the stable token is seeing a major buzz in both crypto and TradFi cycles. With a current market capitalization of $238,391,157,009, many issuers are positioning to take a lead in the market.

While Tether’s USDT and Circle’s USDC dominates the market, new entrants like Ripple USD (RLUSD) are gaining traction. With more consistent RLUSD volume soaring lately, there is a growing speculation the token can compete with the established rivals in the future.

Tether also provided the first attestation for XAUt earlier in the week. With about 7.7 tonnes of gold backing the stablecoin circulation supply, the firm is pushing for more utility for the token.

Crypto Regulation and Implications for Fintech Giants

The shift toward stable assets matches with the growing buzz for regulation in the United States. From the US Securities and Exchange Commission (SEC), to Federal Reserve Chairman’s policy shift, there is a growing consensus to fasttrack stablecoin regulation.

With an August timeline for stable token regulation, most fintech giants are positioning to take advantage of the shift. With a competitive payment landscape and the push for Real World Asset (RWA) tokenization, other Mastercard rivals may also join the trend.

The industry shift, which stems from President Donald Trump’s administration’s pro-crypto stance, is paving a new path for the broader ecosystem. 

The post Mastercard Unveils New Solution To Power Stablecoin Transactions appeared first on CoinGape.

Tornado Cash vs OFAC Update: Court Prohibits Department of Treasury from Reinstating the Original Sanctions

Monicah W

Donald Trump May End IRS DeFi Tax Rule After Senate Vote

The post Tornado Cash vs OFAC Update: Court Prohibits Department of Treasury from Reinstating the Original Sanctions appeared first on Coinpedia Fintech News

  • The Tornado Cash victory against OFAC is a major milestone for the web3 and DeFi development in the United States and globally.
  • The use of crypto mixers by bad actors remains an existential threat to the wider crypto market.

United States District Judge for the Western District of Texas, Robert Pitman, ruled in favor of Tornado Cash, a popular crypto mixer, against the Office of Foreign Assets Control (OFAC). According to court documents dated April 28, the OFAC is now legally prohibited from reinstating the original sanctions.

In August 2022, OFAC added Tornado Cash to the Specially Designated Nationals and Blocked Persons (SDN) list. According to OFAC, Tornado Cash enabled bad actors, led by North Korea-backed Lazarus, to launder more the. $7 billion in crypto assets.

However, some Tornado Cash users, led by Joseph Van Loon, presented strong arguments that the Department of Treasury had overstepped its authority. On the top list, the Plaintiffs argued that Tornado Cash is not a person and immutable smart contracts are not property.

In addition to citing constitutional violations of free speech and financial privacy, Tornado Cash can seamlessly exist in the United States.

Bigger Picture of Tornado Cash Final Ruling 

The final blow to the Department of Treasury by the Tornado Cash is a huge victory for the web3 developers in the United States and globally. The ruling was hailed by web3 leaders led by Paul Grewal, the Chief Legal Officer at Coinbase, among others.

Moreover, open source development of web3 protocols will take shape under the Donald Trump administration, especially amid the anticipated crypto legal clarity.

Meanwhile, TORN price gained around 1 percent following the announcement to trade about $7.38 at the time of this writing. The small-cap altcoin, with a fully diluted valuation of about $74 million and a 24 hour average trading volume of about $2.6 million, had rallied over 160 percent in the past year.

The post Tornado Cash vs OFAC Update: Court Prohibits Department of Treasury from Reinstating the Original Sanctions appeared first on Coinpedia Fintech News
The Tornado Cash victory against OFAC is a major milestone for the web3 and DeFi development in the United States and globally. The use of crypto mixers by bad actors remains an existential threat to the wider crypto market. United States District Judge for the Western District of Texas, Robert Pitman, ruled in favor of …

News

Ethereum Whales are Coming Back as ETFs Show Net Inflow After 8-Weeks

Monicah W

Ethereum’s major holders are returning to the market. Amid the past week’s market consolidation, major players have seized the opportunity to accumulate ETH aggressively.

On-chain data reveals an uptick in whale holdings, while ETH-based exchange-traded funds (ETFs) recorded their first weekly net inflow in eight weeks, signaling a significant shift in sentiment.

ETH Whale Accumulation and ETF Inflows Hint at Imminent Price Surge

According to on-chain data, leading altcoin ETH has noted a significant spike in its large holders’ netflow over the past week. According to the on-chain data provider, this has rocketed 2682% in the past seven days.

ETH Large Holders' Netflow
ETH Large Holders’ Netflow. Source: IntoTheBlock

Large holders of an asset refer to whale addresses holding more than 0.1% of its circulating supply. The large holders’ netflow metric tracks the difference between the coins these investors buy and the amount they sell over a specific period.

When an asset’s large holders’ netflow surges, its whale investors are ramping up their coin accumulation. This accumulation trend suggests a belief in ETH’s future upside, as major holders tend to act when they see value at current price levels. 

Adding to the bullish narrative, ETH-backed ETFs recorded their first weekly net inflow in eight weeks. According to SosoValue, net inflows into ETH-backed ETFs reached $157.09 million between April 21 and April 25, reversing an eight-week streak of outflows totaling over $700 million.

Total Ethereum Spot ETF Net Inflow.
Total Ethereum Spot ETF Net Inflow. Source: SosoValue

With major players re-entering the market, ETH could be poised for further upside in the near term.

Ethereum Sees Bullish Momentum

On the technical side, ETH’s positive Balance of Power (BoP) highlights the resurgence in demand for the leading altcoin. This is currently at 0.31. 

This indicator measures the buying and selling pressure of an asset. When its value is positive, pressure outweighs selling pressure. This indicates strength in the ETH’s price movement and signals further potential upward momentum. If this happens, ETH could rally back above $2,000 to exchange hands at $2,027.

ETH Price Analysis
ETH Price Analysis. Source: TradingView

However, if market sentiment worsens, ETH could shed recent gains and plummet to $1,385.

The post Ethereum Whales are Coming Back as ETFs Show Net Inflow After 8-Weeks appeared first on BeInCrypto.

News

GeeFi Wallet Now Offers Multi-Chain Swaps and Bridging Directly In-App

Monicah W

GeeFi is pushing the boundaries of digital asset management with the addition of token and native coin swapping and bridging in the GeeFi Wallet. Users can now transfer assets across multiple chains and manage their portfolios with ease and security.

This is in line with GeeFi’s mission to make cryptocurrency accessible to everyone. Coming soon is the company’s native token, GeeFi (GEE) which will be a key part of the GeeFi ecosystem.

Token and Coin Swapping

GeeFi Wallet now supports tokens and native coins swapping across many chains, so users can convert one asset into another right within the app. With an intuitive interface designed for fast and accurate transactions, users no longer need to use third-party exchanges.

Swapping is as easy as selecting the token or coin to exchange and confirming the transaction in a few taps. GeeFi automates the complexity of token conversion so both traders and new crypto users can access decentralized financial systems in a user-friendly way.

Bridging Across Multiple Chains

GeeFi Wallet’s bridging feature allows users to bridge assets across different blockchain ecosystems. With support for Ethereum, Bitcoin, Solana, Binance Smart Chain and more, users can move assets between chains to access the best opportunities in DeFi, gaming and more.

GeeFi Wallet’s bridging capabilities are especially useful for users who participate in projects on multiple chains. By offering an easy way to bridge assets, GeeFi enables users to interact with the broader blockchain ecosystem without needing multiple wallets or complicated processes.

Security and Convenience

GeeFi Wallet is non-custodial so users always retain control of their private keys and funds. A critical factor in security during swaps and bridging. GeeFi uses advanced encryption to protect transactions and give users peace of mind.

“Incorporating multi-chain swaps and bridging features is part of GeeFi’s mission to remove barriers in the cryptocurrency space,” said a GeeFi Representative. “We want to provide secure and hassle-free tools for the community and incentivize broader adoption of blockchain technologies.”

Along with the GeeFi Wallet’s new features, the GeeFi (GEE) token is still at the core of the ecosystem. The token will unlock premium features in the wallet such as no limit crypto cards and be an incentive for active participation on the platform.

For example, GEE holders may get reduced fees on swaps and bridging transactions making the token a valuable asset for those who use the GeeFi ecosystem frequently. The whitelist for early access to GEE tokens is already open, users can now reserve a spot before it’s released to the public.

About GeeFi

GeeFi is building innovative and secure digital asset management tools. With a focus on accessibility, security and versatility, the GeeFi Wallet serves crypto users worldwide with features like staking, bridging and multi-chain support. GeeFi’s mission is to simplify digital finance and build trust and engagement in the decentralized economy.

Learn More About GeeFi: Website | X | Telegram | Discord

The post GeeFi Wallet Now Offers Multi-Chain Swaps and Bridging Directly In-App appeared first on BeInCrypto.

News

Rice Robotics Is Launching a FLOKI-themed AI Robot and RICE Token Airdrop

Monicah W

Rice Robotics, a firm specializing in AI-powered robots, is partnering with Floki. The company will launch a Floki-themed robot and its own RICE token, which will be airdropped to FLOKI holders.

The minibot will be an AI-powered task assistant that can offer several services to users. Users will receive RICE tokens for interacting with the minibots, as human data can help train the firm’s AI models.

First-Ever Meme Coin-Inspired Robot?

Meme coins are not often associated with cutting-edge AI and robotics development. However, Floki has been driving creative Web3 initiatives for some time now, with several utility-driven projects. The project is also trying to launch an ETP in Europe.

Today, Floki broke new ground with its Rice Robotics partnership, possibly becoming the first major business relationship between these two spheres:

Rice Robotics is the parent company that produces the robots, but Rice AI focuses on the software and DePin protocol that powers these machines.

The firm will launch its RICE token through TokenFi, a tokenization platform part of the Floki ecosystem.

Initially, waitlist users and FLOKI holders will receive the RICE tokens in the ensuing airdrop. After this, the main way to farm new tokens will be through interacting with physical robots.

Essentially, the FLOKI M1 minibots can help users with tasks in the house, and they will receive RICE tokens for interactions. In other words, the Floki-themed robots will record human data to train AI protocols.

Users will be financially rewarded for using their robotic assistants, which have several practical uses. The program may extend to other minibots in the future.

FLOKI Minibot M1. Source: X/RICE AI

The FLOKI M1 minibot is a very ambitious project, and Rice Robotics already has a waitlist open. In the past, it has worked with high-profile clients such as Nvidia (which has an interest in robotics), Softbank, Dubai Future Foundation, and 7-Eleven. The minibot itself will be powered by Nvidia’s nano-computer.

The firm raised $7 million in Series A funding earlier this year and counts SoftBank as a major AI customer. One of its key investors is e-commerce giant Alibaba.

It will be very interesting to see whether Floki and Rice Robotics have a successful partnership. This endeavor is truly unlike anything that the crypto industry has seen before.

Robotics and meme coins don’t have much in common on the surface, but they could combine popular appeal with real usefulness.

The post Rice Robotics Is Launching a FLOKI-themed AI Robot and RICE Token Airdrop appeared first on BeInCrypto.

News

US State Arizona Passes Two Bitcoin Reserve Bills

Monicah W

Arizona’s State Legislature just passed Bitcoin reserve bills SB1025 and SB1373. They now approach the final hurdle: the governor’s approval to become law.

Both bills won by comfortable margins and will only require the governor’s signature to become law. Governor Katie Hobbs recently ended a vow to veto all bills over a funding dispute, hopefully securing the Reserve’s future.

Arizona Leads the Bitcoin Reserve Race

Arizona’s State Legislature is still in session, but its Bitcoin Reserve bill was relatively early on its agenda. Recently, SB1025 made headlines by making it further than any other state-level Reserve proposal.

Several state-level Bitcoin Reserve bills have been making the rounds lately, but Arizona is all but guaranteed to make the first law.

“Arizona passes second Bitcoin Reserve bill. SB 1373 passed 37-19! Both Reserve bills to Governor Hobbs’ desk for signature,” a crypto-related policy watchdog claimed.

According to SB1025’s text, it will enable Arizona to spend up to 10% of its public funds on Bitcoin or other unspecified digital assets. This funding requirement mirrors South Carolina’s bill, which also mandated a 10% maximum.

Fiscal conservatives in several states opposed a stronger commitment to Bitcoin purchases, presenting a serious obstacle.

Earlier in February, the live proposals would have triggered up to $23 billion in BTC purchases if passed, prompting great enthusiasm from the community.

US Bitcoin reserve
US Bitcoin Reserve Race. Source: Bitcoin Laws

Unfortunately, fiscal conservatives’ strong opposition dulled these hopes. Today, most active proposals include a spending limit or avoid specific sizes altogether, but a few bills will still trigger substantial purchases.

Now that SB1025 has passed a third reading, Governor Hobbs is the only thing separating Arizona from a Bitcoin Reserve.

Recently, she has been vetoing all proposed legislation in a bid to secure funding for Arizona’s Division of Developmental Disabilities. Less than a week ago, she ended this standoff, hopefully allowing her to sign these bills into law.

Arizona’s spending cap may deflate some Bitcoin enthusiasts’ hopes, but it’s still a victory. Amidst the microeconomic challenges, it’s a win for the industry if state-level acquisitions of any size pass.

On a global scale, government-level BTC hoards are decreasing, with multiple nations completely liquidating their holdings.

Meanwhile, Trump’s Strategic Crypto Reserve intends to preserve an existing stockpile but doesn’t acquire BTC. Nonetheless, it’s a bullish development that helped build market enthusiasm.

If Arizona does pass the bill, it will likely increase Bitcoin’s demand and drive more bullish optimism. New Hampshire and Texas are also trailing Arizona’s lead, as both states are awaiting a Senate vote on their bills.

The post US State Arizona Passes Two Bitcoin Reserve Bills appeared first on BeInCrypto.

Tether Reveals Over 7.7 Tons of Physical Gold Backing For XAU₮ Stablecoin: Report

Monicah W

Tether Reveals Over 7.7 Tons of Physical Gold Backing For XAU₮ Stablecoin: Report

Tether released its first formal attestation for Tether Gold (XAU₮). According to the report, each XAU₮ token is backed by 1 troy ounce of actual gold, with 246,523.33 ounces now in circulation.

Tether reveals 7.7 tons of physical gold backing

As per the attestation, Tether stated that the tokenized gold product is backed by more than 7.7 tons of physical gold. As per the details, the physical gold backing XAU₮ is secured in “a dedicated vault within world-class facilities in Switzerland.” The gold reserves are made of London Bullion Market Association (LBMA) gold bars, which have multiple layers of security controls.

These controls, as Tether describes them, include “rigorous counterparty selection, certificate verification of gold bars, and regular assays done in the presence of auditors.” The firm stresses that the process of XAU₮ issuance works under strict procedural and legal guidelines. This is done to prevent any kind of falsification.

Tether CEO Paolo Ardoino highlighted the company’s commitment to maintaining the 1:1 backing. The firm stated, “With XAU₮, we’re offering users the ability to access the security of physical gold in a digital form—secure, easily transferrable, and backed 1:1 by fully held gold reserves.”

Growth of XAU₮ linked to several factors

Tether’s report attributes the growth of XAU₮ during Q1 2025 to several macroeconomic factors. These include “escalating global economic uncertainty, heightened geopolitical tensions, and a rising demand for inflation-resistant stores of value.”

The company specifically noted a surge in market cap that happened amid investor concerns about “new international trade tariffs.” The firm views it as validation of “gold’s role as a hedge in volatile markets.”

The token’s all-time highest price was $3,423 on April 21, 2025. Tether further highlighted that the amount of inventory indicated by the attestation is more important than the price.

This expansion is hand in hand with the general trends in the gold market. The report also quoted information from the World Gold Council indicating massive central bank purchases of gold.

According to these figures, global gold reserves stood at 37,755 metric tons at the end of 2024. Central banks were also making net purchases of 1,044.6 metric tons throughout 2024. The fourth quarter of 2024 alone saw central bank gold buying of 332.9 metric tons.

Tether noted that this accumulation pattern has been particularly strong among BRICS nations, which are “seeking to diversify away from U.S. dollar dependency.” The firm is the issuer of the largest stablecoin, Tether. USDT price maintains its peg at $1 and is the largest stablecoin with a $147 million market cap.

CoinGape has also released their Tether (USDT) price prediction, which indicates it is 53% bullish.

The post Tether Reveals Over 7.7 Tons of Physical Gold Backing For XAU₮ Stablecoin: Report appeared first on CoinGape.

Binance Spot Volume Faces Positive Buy-Sell Imbalance, Is Demand for Bitcoin Rising?

Monicah W

Binance Spot Volume Faces Positive Buy-Sell Imbalance, Is Demand for Bitcoin Rising

The Binance spot market data shows that buyers are finally outpacing sellers for the first time in months. Notably, the shift is catching attention across the crypto market as Bitcoin holds strong above key price levels. As the biggest trading platform, the change in volume might have a major impact on the outlook of Bitcoin and the altcoin. 

The Binance CVD Analysis

Data from CryptoQuant disclosed that the Cumulative Volume Delta (CVD) of crypto exchange Binance has been trending upward since Bitcoin dropped to around $75,000. According to the update, this metric tracks the net difference between buying and selling orders. 

Analyst Joao Wedson shared charts showing that while the Binance CVD has turned positive, other exchanges like OKX, Bybit, HTX Global, BitMEX, and Deribit still show declines.

It is worth noting that this marks a break from the pattern seen since 2021, when positive growth on Binance had been rare. Based on the current market outlook, the rise in CVD aligns with the Bitcoin price surge toward $94,000 by late April. 

Joao Wedson also emphasized that a rising CVD shows more substantial buying pressure and growing confidence among traders. He advised monitoring this trend closely as it offers valuable insights into risk appetite on the exchange.

Is Demand Rising for Bitcoin?

Beyond Binance, several other signs suggest that demand for the largest digital asset, Bitcoin, is gaining momentum. 

According to CoinShares, digital asset investment products from top asset management companies recorded $3.4 billion in inflows over the past week. 

CoinGape reported that BTC inflow topped $3 billion. Ethereum also posted inflows of $183 million after weeks of outflows. If anything, this shows a renewed interest of investors in acquiring and trading major cryptocurrencies.

Reports indicate that corporate interest in Bitcoin is heating up. Strategy Inc’s recent purchase of 15,355 Bitcoin for $1.42 billion further signals strong institutional demand. Whales have also been active, with a major buyer acquiring $110 million of Bitcoin and Ethereum via over-the-counter transactions.

Drawing on these trends, Presto executive Peter Chung reaffirmed a $210,000 Bitcoin price target for 2025. The forecast highlights institutional adoption and global liquidity growth as key drivers.

Key Market Trends to Watch

While Bitcoin might be the biggest asset in the spotlight, other key market trends could also shape the overall health of the industry. The demand for SEC approvals of digital asset ETFs remains on the agenda. Recently, the SEC approved the first XRP futures-based ETF with sizable volume scored in 30 minutes. 

Also, beyond Binance, market data shows that Bitcoin whales and sharks are active, while bullish on-chain metrics further support the positive outlook. 

CoinMarketCap data shows that Bitcoin’s price was trading at around $94,011.77 as of this writing. It has inked a 1.16% growth in the last 24 hours, and trading volume has also risen 71.62% over the same period. The confluence of metrics suggests more uptick is likely.

The post Binance Spot Volume Faces Positive Buy-Sell Imbalance, Is Demand for Bitcoin Rising? appeared first on CoinGape.