Bitcoin continues to hover around the $110,000 mark despite reaching a new all-time high last week. The lack of further breakout momentum is likely due to profit-taking by new whales, according to on-chain data.
Since April 20, Bitcoin’s price has surged over 30% from $84,000. However, the rally has stalled since hitting a record peak of $111,970 on May 22. Analysts say the price plateau may be tied to selling pressure from recently established whale addresses.
Are New Whales Restricting Bitcoin’s Price?
CryptoQuant’s cohort analysis shows a clear pattern. The majority of profit realization over the last month came from new whales, who have taken advantage of the rally to lock in gains.
“With such a rally, it’s important to monitor whether profits are being realized by new or old whales. Surprisingly, the data shows that 82.5% of the profit-taking since April 20th has come from new whales,” J.A. Maartunn of CryptoQuant told BeInCrypto.
The data further shows that new Bitcoin whales realized approximately $3.21 billion in profits. It’s significantly larger compared to $679 million by older whale wallets.
This rotation of gains appears to be exerting resistance just below the $112,000 level.
Also, the following CryptoQuant chart reflects how this trend materialized before BTC hit an all-time high last week. Blue bars, representing new whales, dominate the profit-taking columns since late April.
The most recent grey-shaded section highlights increased activity from these newer market participants.
In contrast, earlier spikes in realized profits—such as the $811 million and $255 million events in February and March—were attributed to older whales.
Meanwhile, the trend of profit-taking has continued this week.
New whales, in particular, have been realizing profits during this latest pump pic.twitter.com/IoJrBToFnQ
This behavioral shift suggests that new whales are seizing recent highs to exit positions they likely entered during Q1’s downturn. These exits create persistent overhead selling pressure, stalling further upward movement.
At the same time, older whales remain largely inactive. Their reluctance to sell may signal longer-term confidence in Bitcoin’s trajectory, potentially limiting downside risk in the near term.
Until this new whale selling subsides, Bitcoin may struggle to decisively break above current levels. Market watchers will be closely tracking whether this cohort continues to offload or pauses, allowing the price to find renewed momentum.
According to Johnny Garcia, Managing Director of Institutional Growth and Capital Markets at the VeChain Foundation, Texas will likely become the next state to establish a strategic Bitcoin reserve after New Hampshire.
In an exclusive interview with BeInCrypto, Garcia explained that states with pro-innovation leadership are more inclined to follow New Hampshire’s example. Meanwhile, others may adopt a more cautious, wait-and-see approach.
Why States Like Texas Are More Likely to Follow New Hampshire’s Bitcoin Reserve Lead
The VeChain executive described New Hampshire’s passage of House Bill 302 as a ‘landmark moment’ for digital assets. He stated that the development highlights Bitcoin’s growing recognition as a strategic financial instrument.
It also lays the groundwork to encourage wider blockchain adoption by normalizing digital assets in public portfolios.
“Momentum has been gathering at the State level since the presidential inauguration, and have commented before, there is a sea change taking place in the minds of State representatives across the general perception of Bitcoin [and other crypto assets] in the US,” Garcia told BeInCrypto.
Importantly, he believes the move could prompt the states already considering related legislation to accelerate their efforts so they don’t fall behind. The latest data from Bitcoin Laws shows that as of May 2025, 37 digital asset-related bills are active in 20 states.
Live Bitcoin Reserve Bills Across 20 States. Source: Bitcoin Laws
However, Garcia emphasized that the success of these bills depends on various factors. These include a state’s political climate, economic priorities, and risk tolerance.
“States with pro-innovation leadership, like Texas or Utah, are more likely to follow New Hampshire’s lead in short order, while others may wait to see how things play out for N.H,” he added.
With Texas now in the spotlight, there is strong optimism that similar legislation will be signed into law. Republican Governor Greg Abbott has expressed a favorable outlook toward the industry. The Texas Legislative session ends on June 2, so the decision could come any day now.
This trend highlights a clear difference of opinion between Democrats and Republicans regarding investments in digital asset reserves, a divide Garcia also acknowledges.
“These differences are nothing new, and I chalk them up to deeper-rooted perspectives, just like there are conservatives and liberals, or risk takers and those who like to play things safe. Some may try to tease out those groups and label people on one side as Democratic and the other as Republican, but I think that is too simplistic,” he said.
He acknowledged that bridging this gap poses a significant, but surmountable, challenge. The executive noted that increased cooperation can be fostered through education and a deeper understanding of the technology’s potential benefits and risks.
According to Garcia, the focus should be on identifying shared goals, such as leveraging blockchain to improve efficiency and transparency in government operations—an approach that could lay the groundwork for bipartisan collaboration.
“The ultimate goal would be to develop a thoughtful and balanced approach to digital assets that can benefit all Americans, regardless of political affiliation. This can be achieved by moving the conversation beyond partisan lines and focusing on the long-term economic and technological implications,” Garcia disclosed to BeInCrypto.
How Will State-Level Interest Impact Broader Crypto Adoption?
Whether Democrats and Republicans will ever fully agree on digital assets remains uncertain. Despite this, the introduction of bills and increased discussions at the state level signal growing interest and momentum.
Garcia said this shift marks a fundamental change in how public finance views blockchain assets, recognizing them as tools for innovation and resilience.
“It, combined with the strength of Bitcoin, has rekindled the discussion around ‘digital gold’ and could help reshape public finance by introducing decentralized, censorship-resistant assets into traditional portfolios,” he commented.
It normalizes digital assets as a strategic asset class, not just speculative. This encourages more institutional and enterprise participation.
This also pushes policymakers and the public to better understand digital assets’ risks and benefits, which can lead to clearer and better regulations.
It helps build infrastructure like regulated custody and on-chain auditability. This makes blockchain adoption easier for businesses.
He also said that while accessibility remains a challenge for mainstream adoption, state-backed initiatives could foster partnerships between the public and private sectors. This collaboration could lead to the development of user-friendly wallets, custody services, and decentralized finance platforms, expanding access for both retail and institutional users.
“This aligns with our focus at VeChain on scalable, enterprise-grade blockchain solutions, and we anticipate that state-level adoption will create a ripple effect, accelerating the integration of digital assets into both public and private sectors,” Garcia remarked.
The Balance Between Opportunity and Risk in State Crypto Holdings
While the benefits inspire optimism, the reserves carry several implications for a common taxpayer. Garcia explained that supporters believe state investments could boost long-term returns and diversify away from inflation-prone assets, potentially strengthening the state’s finances and benefiting taxpayers. Yet, he claimed,
“We have not yet reached the point where Bitcoin has achieved a greater level of stability, and if it sees a similar pullback compared to previous cycles, that would greatly diminish interest in setting up reserves and could cost taxpayers money.”
Garcia warned that significant price drops could lead to losses in the state’s reserves. Thus, if the allocation is too large or poorly managed, this could potentially threaten financial stability.
“This could, in theory, lead to pressure for tax policy changes to offset those losses, although this would depend heavily on the scale of the investment and the state’s overall financial health,” he mentioned to BeInCrypto.
Garcia advocated educating taxpayers about both the benefits and risks to maintain public trust. He emphasized that the long-term impact will depend on the responsible and strategic management of these reserves.
Beyond tax concerns, Garcia detailed several challenges states may face when implementing crypto reserves.
“The volatility of digital assets remains the biggest challenge facing states looking to implement reserves, as managing this volatility within a public treasury framework will require careful consideration and potentially sophisticated risk management strategies,” he commented.
Garcia also mentioned that educating lawmakers and the public is crucial for wider acceptance, as many state officials lack expertise in digital asset management and will need training or specialists. He underlined that federal regulatory uncertainty adds complexity. Therefore, clear rules on custody and reporting are necessary.
According to Garcia, transparency and strong cybersecurity measures are other key factors essential to ensuring the long-term success of these initiatives.
The Road to a National Strategic Bitcoin Reserve
Meanwhile, Garcia pointed out that concerns over taxes and market volatility are why President Trump’s Bitcoin reserve does not include provisions for investing the country’s funds. Instead, it focuses on using forfeited assets to build the stockpile.
The SBR would involve acquiring 1 million Bitcoins over five years and holding them for at least 20 years. Garcia declared that allowing direct Bitcoin investments would depend on shifting political and economic factors.
“Allowing for such purchases will require bipartisan support in both the House and the Senate, along with the President’s signature, but as the recent stall for the GENIUS Act shows, lawmakers are far from being on the same page,” the executive shared with BeInCrypto.
Garcia believes that a clear regulatory framework for crypto and a plan to incorporate Bitcoin into a strategic reserve will eventually be established by law. Nonetheless, the timeline and specific details of these bills remain ‘challenging to predict.’
President Trump’s family-controlled media company, Trump Media & Technology Group (TMTG), plans to raise $3 billion to buy cryptocurrencies such as Bitcoin.
According to reports, the capital raise will include $2 billion in fresh equity and $1 billion via a convertible bond.
Trump Media’s Crypto Venture Coincides with the President’s Collision with Harvard
TMTG aims to announce the offering ahead of a major crypto conference in Las Vegas, where Vice President JD Vance and Trump’s sons, Donald Jr. and Eric, are expected to speak.
According to the Financial Times, underwriters could include ClearStreet and BTIG. The at-the-market share sale would be executed near Friday’s closing price.
BEEAKING: TRUMP Media Group aims to raise $3 BILLION for cryptocurrency investments.
Notably, this move closely follows Trump’s threat to redirect $3 billion in federal research grants away from Harvard University to US trade schools.
The administration froze roughly $2.2 billion in grants, mainly from the National Institutes of Health, after accusing Harvard of fostering antisemitism and non-compliance with federal directives.
Meanwhile, Harvard has sued, calling the funding cuts unconstitutional. That proposal would require congressional action to reallocate funds designated for biomedical research.
Critics argue it represents an overreach of executive power. However, supporters say it would boost vocational training in high-demand trades.
Bill Ackman Says Harvard is Mismanaging Their Negotiations w/ President Trump
“The wrong thing to do with President Trump is to escalate … The view of most Americans is that the federal government giving taxpayer money to a university is a privilege and not a right … President… pic.twitter.com/unrdrjrfz8
While TMTG operates independently of the federal government, the timing and scale of its crypto ambitions have drawn scrutiny, given its close ties to the Trump family and the administration’s broader policy posture.
There is a juxtaposition that can’t be ignored. A Trump-linked entity raising billions for digital asset investment as the administration pressures elite institutions and proposes to shift public funding toward vocational programs.
Believe (LAUNCHCOIN) is up 15% in the last 24 hours, extending its impressive run after soaring more than 17,000% over the past month. The rally comes despite broader signs of cooling momentum on the Believe platform, which has seen a sharp drop in token launches and user activity.
LAUNCHCOIN’s EMA lines now point to consolidation, signaling a pause as traders assess the next move. With key support and resistance levels in play, LAUNCHCOIN’s performance may serve as a critical indicator of whether Believe can reclaim relevance in the competitive Solana launchpad space.
Token Launchpad Race: Believe Surges, Then Slows
Believe App experienced a major spike in activity between May 13 and May 15, with over 4,000 tokens launched daily through its social-media-driven platform.
This rapid growth briefly made Believe one of the most active token launchpads in the Solana ecosystem, highlighting its viral appeal and ease of use.
However, that momentum has tapered off significantly—new token launches dropped to just 268 by May 25 following the platform’s decision to suspend launches via Twitter and pivot toward an API-based model.
Daily Tokens Launched per Launchpad. Source: Dune.
The drop-off suggests that much of the platform’s initial traction may have been fueled by short-term hype rather than sustained user engagement.
Meanwhile, Pump.fun remains the clear market leader, consistently supporting between 20,000 and 30,000 token launches per day—an order of magnitude higher than its closest challengers.
Daily Active Addresses per Launchpad. Source: Dune.
Even as Believe peaked at 134,000 daily active addresses on May 15, Pump.fun held strong with 136,519 active users as recently as May 25, indicating deeper and more durable user involvement. The contrast between the two platforms reflects the challenge of turning viral momentum into long-term traction.
Without continuous user stickiness or unique utility, Believe may struggle to maintain relevance in a space dominated by Pump.fun’s scale and consistency.
Believe Tokens Lose Steam as Competitors Take the Lead
Believe-launched tokens are losing momentum, with few gaining notable traction in recent days. Over the last 24 hours, 4 of the top 5 performing tokens across major Solana launchpads came from Pump.fun, while the fifth came from LetsBonk.
This shift shows a clear reversal in platform dominance compared to earlier weeks, when Believe tokens regularly topped performance charts.
Top Tokens In Last 24 Hours and Last 7 Days. Source: Dune.
The decline in breakout tokens from Believe suggests that the platform’s initial surge may have been driven more by speculative buzz than lasting product-market fit.
A few weeks ago, Believe dominated launchpad success metrics, but the absence of top tokens recently may reflect waning user interest or a drop in token quality.
As other platforms like Pump.fun and LetsBonk continue to produce high-performing tokens, Believe risks fading from relevance unless it can re-engage its user base or differentiate its offering.
AI meme coins led the rally, with AIXBT surging 17% despite a quiet broader market. This bullishness suggests AI memes still have strong investor interest.
BeInCrypto has analyzed two additional AI meme coins for investors to watch today, highlighting their potential price directions.
AIXBT price surged nearly 17% in the last 24 hours, currently trading at $0.210. The AI meme coin is trying to hold $0.209 as a support floor, aiming to stabilize its recent gains and build momentum for a potential further rally.
Despite recent gains, AIXBT has faced resistance at $0.209 several times, breaking it only once. The Parabolic SAR indicator above the candlesticks signals a possible decline, suggesting caution as the price struggles to maintain upward momentum.
If broader market conditions remain weak, AIXBT could drop back to support at $0.166. However, securing $0.209 as support might fuel a rally toward $0.227, invalidating bearish concerns and signaling renewed buying interest.
ai16z experienced volatility in the last 24 hours, dipping to an intra-day low near $0.260 before rebounding. Since then, the meme coin has surged 21%, showing resilience amid market fluctuations and renewed investor interest.
The Chaikin Money Flow (CMF) indicator shows a sharp uptick, signaling strong capital inflows. This boost supports ai16z’s price rise, with the altcoin aiming to break the $0.342 resistance and potentially reach $0.380 if the momentum continues.
However, selling pressure could disrupt this trend. If ai16z fails to breach $0.342 or faces heavy investor sell-offs, the price might drop toward the $0.256 support level from its current $0.317, weakening the bullish outlook.
VADER gained 8% in the last 24 hours, trading at $0.0415 while attempting to hold $0.0385 as support. With over 215,690 holders, the meme coin has attracted attention since early May, showing growing interest among investors despite volatility concerns.
Investors should be cautious as VADER lacks a transaction tax limit, allowing the contract owner to change terms at will. The next key resistance level is $0.0510. The Relative Strength Index (RSI) remains in the bullish zone, indicating potential upward momentum for the meme coin.
If VADER fails to maintain support at $0.0385, the price could drop to $0.0340 or lower at $0.0286. Such a decline would invalidate the current bullish outlook, signaling increased selling pressure and potential losses for holders.
Strategy announced Monday its latest purchase of 4,020 Bitcoin, worth $427 million, between May 19 and May 25, 2025.
This acquisition lifts Strategy’s total Bitcoin holdings to a record 580,250 BTC, valued at $40.61 billion. With this disclosure, Strategy further cements its leadership as the largest publicly traded Bitcoin holder.
Record-Breaking Bitcoin Acquisition
Formerly known as MicroStrategy, Strategy has reinforced its reputation at the forefront of Bitcoin adoption among corporations. Its official statement confirms the purchase of 4,020 additional Bitcoin between May 19 and May 25, 2025.
The total investment of $427 million reflects an average price of $106,237 per Bitcoin. This rapid move increases Strategy’s BTC treasury to 580,250 coins, giving it the world’s largest corporate Bitcoin reserve. That trove now represents nearly 3% of Bitcoin’s circulating supply, giving the company outsized influence on market sentiment.
“Strategy has acquired 4,020 BTC for ~$427.1 million at ~$106,237 per bitcoin and has achieved BTC Yield of 16.8% YTD 2025. As of 5/25/2025, we hodl 580,250 $BTC acquired for ~$40.61 billion at ~$69,979 per bitcoin,” Saylor posted on X.
Strategy completed its purchase after a period of relative stability for Bitcoin, demonstrating confidence in its long-term value. Notably, the company’s stock price was volatile following the announcement. The MSTR stock was trading at $369 at press time, down 7%.
Strategy used funds from its at-the-market (ATM) equity and preferred stock offerings to finance this acquisition. These methods offer flexible funding and allow the company to raise capital efficiently by issuing new shares at current market prices.
Importantly, this funding mechanism showcases a strategic use of traditional financial tools to support digital investments. Combining equity financing with Bitcoin buying has set a new bar for firms considering similar asset allocations.
With BTC trading near record highs, markets will watch whether the company accelerates issuance to chase its aggressive 2025 yield goal and how that might ripple across BTC and MSTR stocks.
It also appears that following Michael Saylor’s lead, firms across Brazil, the Middle East, Asia, and beyond are increasingly adopting Bitcoin as a reserve asset.
Binance has taken a bold step toward redefining the SocialFi experience, launching Live Trading on its social platform, Binance Square.
The move enables users to follow livestreamed strategies from verified creators and execute actual Spot or Futures trades directly within the stream.
Binance Square Launches Live Trading Integration
With this launch, users can follow real-time live streams from verified creators. They can also place spot or Futures trades directly within the stream, removing friction between learning and execution.
This marks a significant leap toward merging real-time content, education, and on-chain action in a single, seamless interface.
“Live Trading is designed to make trading more accessible, interactive, and engaging…It’s a natural evolution of Binance Square,” said Jeff Li, Head of Product at Binance, in a statement shared with BeInCrypto.
During livestreams, users can interact with pinned strategy cards that display vital trade information such as trading pair, order direction, and size. They can also execute trades without leaving the session. This blends entertainment, education, and financial action in a single user flow.
For creators, Binance offers monetization opportunities. Specifically, up to 50% commissions on referred trades, enhanced visibility, and even an Incubator Program for up-and-coming strategists.
Verified influencers with over 1,000 followers can also share up to 100 past trades. This increases their visibility through competitions and campaigns. They also reserve the choice to apply to the Square Live Trading Incubation Program if they are starting.
This move is part of Binance’s mission to transform crypto into a more community-driven and participatory ecosystem.
With livestream competitions, multistreaming support, and more in the pipeline, Binance’s Live Trading turns market commentary into real-time financial action. This feature could reshape how crypto users learn, trade, and connect.
How Does It Compare to Pump.fun’s Livestream Model?
Binance is not the first to introduce the concept of interactive, livestream-enabled trading. Pump.fun, the Solana-based meme coin launchpad, recently reopened its livestream feature with added safeguards. This followed backlash over unmoderated, speculative content that sometimes misled viewers and encouraged impulsive behavior.
In contrast, Binance’s Live Trading approach focuses on verified creators with clear risk disclosures. Additional differentiators include transparency through pinned strategy cards and direct execution through the platform’s regulated trading infrastructure.
There is also a structured monetization model. The market edges challenge the notion that meme hype is amplified, with Binance providing educational value, fostering transparency, and encouraging informed decision-making.
Therefore, it rivals Pump.fun, which reflected crypto’s raw energy and community-driven meme culture. This signals a maturation of SocialFi from chaos to structure, marking a pivotal moment in the evolution of SocialFi. The space is shifting from speculative chaos to platform-verified strategy.
SocialFi Matures: COOKIE, Kaito, and the Rise of Creator-Led Trading
At the same time, Binance’s innovation is part of a broader wave of SocialFi developments turning creators into monetized knowledge hubs.
Cookie DAO recently launched COOKIE Snaps, a decentralized creator network focused on InfoFi. It combines news delivery, personalized feeds, and content ownership.
COOKIE is building a full-stack ecosystem that lets creators earn for sharing insights. This gives users more control over the information they consume.
Similarly, Kaito is fusing AI, search, and social media monetization. The project recently launched its native token, KAITO, to reward Web3 researchers and influencers with direct value for their posts, signals, and commentary. This move disrupted the traditional ad-driven model of centralized platforms.
Together with Binance’s Live Trading, these initiatives suggest a new paradigm, where content is actionable, decentralized, and financially incentivized. The future of SocialFi might go beyond watching and liking. These initiatives leverage learning, earning, and time.
As SocialFi advances, Binance’s livestream-enabled trading may be the first domino in a broader movement. This could transform how users interact with finance, content, and each other in the Web3 era.
As May comes to a close, many crypto tokens are approaching major developments. Altcoins aim to use these milestones as catalysts to drive their prices higher, following Bitcoin’s recent momentum.
BeInCrypto has analyzed three such altcoins for investors to watch as Q2 comes closer to an end.
BNB
BNB price is expected to surge soon, driven by the upcoming Maxwell hard fork on Binance Smart Chain (BSC). This upgrade promises faster block times, improved network efficiency, and smoother overall performance, which could boost investor confidence and usage of the platform.
The Maxwell hard fork could serve as a key catalyst for increased chain activity. Currently trading at $672, BNB faces resistance levels at $686 and $700. A strong market response to the upgrade may close the 18% gap to BNB’s all-time high (ATH) of $793.
However, if the hardfork’s reception is lukewarm, BNB may remain stuck below $686. This could invalidate the bullish outlook and stall the ongoing uptrend, as traders wait for clearer signs of sustained momentum.
Zilliqa (ZIL)
ZIL’s price has declined 14.7% over the last two weeks, dropping from $0.0149 to $0.0127. This fall is likely due to delays in the Zilliqa 2.0 mainnet launch. However, any positive update on the migration could trigger renewed bullish momentum for the token.
Investors should watch for news on Zilliqa 2.0, as favorable developments may push ZIL’s price toward resistance at $0.0137. Breaking this level could reinstate bullish sentiment and signal a potential recovery for the altcoin.
If ZIL fails to capitalize on momentum, the price may consolidate between $0.0125 and $0.0137. Such sideways movement would weaken the bullish outlook, suggesting a period of uncertainty before the next major move.
Optimism (OP)
OP price has remained mostly flat recently, but upcoming events may spark bullish momentum. The scheduled unlock of 31.34 million OP tokens this week, worth $24.22 million, could drive a price surge as investors prepare for increased supply and activity.
Currently, OP trades above the Ichimoku Cloud, indicating potential bullish strength. This technical setup suggests OP could break past the $0.80 resistance and continue climbing toward the $0.90 level, attracting more investor interest.
However, failure to breach $0.80 would invalidate the bullish outlook. In that case, the price could drop to $0.69 or even lower, signaling potential weakness and a need for caution among traders.
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee and read what experts say about Bitcoin (BTC), which is progressively emerging as a focal point for investors seeking asymmetric opportunities. Amid rising institutional adoption, we see a growing narrative that Bitcoin could offer unparalleled returns relative to the risks involved.
Crypto News of the Day: Bitcoin As The Asymmetric Bet to Redefine Investment Portfolios
Bitcoin has emerged as a focal point for investors seeking asymmetric opportunities. Lawrence Lepard, a prominent figure in the investment community, recently reiterated his stance on the pioneer crypto.
Lepard, famous for his staunch advocacy of sound money principles and author of The Big Print, described Bitcoin as the most asymmetric bet he has encountered in over four decades of investing.
“I’ve long contended that anybody who has zero Bitcoin is really really missing the most asymmetric bet that I have ever seen in forty-plus years of making,” TFTC reported, citing Lepard in an interview with KITCO News.
Lepard’s argument centers on the concept of an asymmetric bet, where the potential reward significantly outweighs the risk. Financial analyses support this perspective and highlight Bitcoin’s ability to diversify portfolios.
This assertion reflects the growing narrative that Bitcoin could offer unparalleled returns relative to the risks involved.
Lepard’s comments come after Bitcoin’s role as a hedge against inflation and economic instability is increasingly recognized. A recent US Crypto News publication cited Bitcoin’s role as a hedge against traditional finance (TradFi) and US treasury risk.
Bitcoin has demonstrated the potential for exponential growth, with early investors witnessing significant returns.
“By 2025, Bitcoin’s price has surged to over $105,000, a 1,400% increase from the $7,000 mark in 2017,” a user on X noted.
Despite its volatility, the pioneer crypto’s capped downside risk, limited to a 100% loss, contrasts sharply with its unlimited upside potential. According to Lepard, this makes it an attractive option for risk-tolerant investors.
“Every commodity in the world, if you increase its price, supply goes up. If gold went to ten thousand tomorrow, we’d mine more gold. If corn went up, if oil went to two, three hundred dollars a barrel, we drill for more oil. You would get a higher price. You would get more. No matter where the price of Bitcoin goes, the issuance schedule is set. There’s not going to be any more,” Lepard added.
Lepard’s endorsement of Bitcoin aligns with broader market trends. Once skeptical, institutional investors are increasingly integrating Bitcoin into their portfolios, driven by its decentralized nature and fixed supply of 21 million coins.
This shift is part of a larger conversation about Bitcoin’s role as a store of value, akin to gold, especially in the face of global economic uncertainties. With this, Lepard says owning a single Bitcoin (1 BTC) will not be easy in a few years.
“Being a wholecoiner is going to be an enormous deal in a few years,” he stated.
A notorious phishing group known as Inferno Drainer has begun exploiting a new Ethereum feature to launch wallet-draining attacks
The group is taking advantage of Ethereum Improvement Proposal (EIP) 7702, a key part of the Pectra upgrade, which allows Externally Owned Accounts (EOAs) to temporarily act like smart contract wallets during transactions.
On May 24, Scam Sniffer, a web3 anti-scam platform, flagged a case where a wallet recently upgraded to EIP-7702 lost nearly $150,000.
According to Yu Xian, founder of blockchain security firm SlowMist, Inferno Drainer carried out the theft using a more sophisticated version of traditional phishing.
Unlike previous scams that hijack user wallets directly, Xian explained that Inferno Drainer used a delegated MetaMask wallet—one already authorized under EIP-7702.
He said this allowed the hackers to approve token transfers silently through a batch authorization process.
Xian furthered that the victim unknowingly triggered an “execute” command within MetaMask, which processed the malicious batch data in the background. The result was a silent but effective token drain.
“The phishing gang uses this mechanism to complete batch authorization operations on tokens related to the victim’s address,” Xian said.
According to him, it shows that attackers are no longer relying solely on old tricks as they’re actively integrating new Ethereum updates into their operations to stay ahead.
“As we predicted, the phishing gangs have caught up… Everyone should be vigilant, be careful that the assets in your wallet will be taken away,” Xian said.
Considering this, he urged users to review token authorizations regularly and check whether their wallet addresses have been delegated to phishing accounts via EIP-7702.
Due to this, security experts have emphasized that crypto users must remain proactive to stay safe from these attack vectors.
Scam Sniffer advised industry players to verify websites before logging in or approving any transactions. They also urge community members to audit their token permissions routinely and avoid clicking on unverified links.
