Thumzup Media to Raise Up to $200M to Purchase More Bitcoins

On Tuesday, a large Solana whale transferred 494,153 SOL—valued at approximately $72 million—to the Coinbase exchange, raising concerns over a potential sell-off. 

Large exchange inflows like this often signal impending selling pressure, putting SOL’s recent gains at risk.

$72 Million in SOL Hits Coinbase, Weighing on Market Sentiment

According to Whale Alert, a SOL whale transferred 494,153 SOL valued at $72 million to Coinbase Institutional on Tuesday. Significant exchange inflows such as this mean that large investors are moving their holdings from private wallets to exchanges, often signaling an intent to sell.

This increased supply on exchanges can increase the downward pressure on the SOL price, especially if there is insufficient demand to absorb the selling. As a result, its price may decline in the near term, leading to further sell-offs.

Moreover, the coin’s negative weighted sentiment heightens the risk of this selloff. At press time, this key metric is below zero at -0.51.

An asset’s weighted sentiment analyzes social media and online platforms to measure the overall tone (positive or negative) surrounding it. It considers the volume of mentions and the ratio of positive to negative comments. When weighted sentiment is positive, it indicates more positive comments and discussions about the cryptocurrency than negative ones.

On the other hand, when it is negative, the overall market sentiment is bearish, with more negative commentary and pessimism outweighing positive discussions about the asset. 

This trend can increase selling pressure in the SOL market, discourage new demand, and contribute to its price decline as traders react to the prevailing bearish outlook.

Will Solana Drop to $138 or Surge to $160?

At press time, SOL trades at $145.84. If the whale selloff prompts retail traders to distribute their coins, SOL’s price may plummet to $138.84.

However, on the daily chart, SOL bulls appear ready to defend key levels. Readings from technical indicators, including the Parabolic SAR, suggest that buying momentum is gaining strength.

At press time, the dots that make up this momentum indicator rest below SOL’s price, offering dynamic support. When an asset’s Parabolic SAR is set up this way, it signals a bullish trend. It hints at the possibility of a rally in SOL’s price in the short term. If this happens, the coin could exchange hands at $160.34.

The post Solana Whale Moves $72 Million in SOL to Coinbase, Fueling Fears of a Major Sell-Off appeared first on BeInCrypto.

Arkham Intelligence detected a massive Bitcoin transaction from Nucleus Marketplace, a dark web drug market that has been totally inactive for nine years. Nucleus moved $77.5 million to three wallets, leaving $365 million behind.

So-called “ancient” Bitcoin whales pop up in the space periodically, but an extant darknet vendor is still quite rare. Nucleus’ assets have appreciated in value astronomically, but it will be very difficult to convert this BTC into fiat currency.

Dark Web Bitcoin Whale Wakes Up

If there’s one constant in the crypto space and finance more broadly, it’s that money never sleeps. Earlier today, on-chain analysis firm Arkham Intelligence discovered rapid action from a long-dormant source.

Nucleus Marketplace, a darknet market with zero activity in the last nine years, woke up to move over $77.5 million worth of Bitcoin.

“Nucleus Marketplace was a darknet drug market, and it was believed that the founder had either been apprehended by law enforcement or had exit-scammed when the market went offline in 2016. The BTC held in their wallets has not been moved until today,” Arkham claimed.

This defunct darknet market didn’t immediately move all its Bitcoin, and Nucleus still retains about $365 million in BTC. The price of Bitcoin has shot up astronomically since the company’s heyday; at no point in 2016 did BTC cross the $1,000 price point.

Whoever controls this wallet is acting somewhat conservatively, moving these assets into three separate wallets.

Although the dark web angle may be particularly eye-catching, Bitcoin moves from decade-old wallets surprisingly often. These ancient whales can come from several backgrounds, like early crypto miners or unlaundered stolen assets.

Darknet market transactions are somewhat less common, although a few remain at large despite major legal crackdowns.

As novel as this darknet wallet may be in 2025, it doesn’t seem too likely to have much of an impact on Bitcoin. At the moment, it’s impossible to tell who is controlling Nucleus’ wallet, be it an original operator, associate, or hacker.

Regardless of who controls the wallet, it would be very difficult for anyone to convert this BTC into fiat without notice. These wallets are constantly monitored, and any suspicious activity could trigger community actions.

The post Ancient Dark Web Drug Market Moves Bitcoin Worth $77.5 Million appeared first on BeInCrypto.

Since peaking at an intraday price high of $0.0000176 on May 12, the leading meme coin, Shiba Inu (SHIB), has witnessed a 33% decline. 

Due to the coin’s lackluster performance, on-chain data reveals that a significant portion of SHIB holders are currently at a net unrealized loss, signaling a state of capitulation in the market. What does this mean for investors?

SHIB Bleeds as 87% of Addresses Now ‘Out of the Money’

According to Glassnode, SHIB’s Net Unrealized Profit/Loss (NUPL) metric shows that the meme coin is firmly in the capitulation zone.

The NUPL metric measures the difference between all holders’ total unrealized profits and unrealized losses relative to an asset’s market cap. It offers insight into whether the market, on average, is in a state of profit or loss.

Per Glassnode, market participants are in capitulation when an asset’s NUPL is negative. This occurs when the total unrealized losses in the market exceed unrealized gains, suggesting that most holders are underwater. It reflects a period of loss where investors either panic sell or hold in distress. 

IntoTheBlock’s Global In/Out of the Money confirms this bearish sentiment. At press time, the metric shows that over 87.34% of all SHIB holders are currently “out of the money.”

An address is considered “out of the money” when the current market price of the asset it holds is lower than the average acquisition cost of the tokens in that address. This means the holder would incur losses if they sold their assets at the market price.

SHIB Capitulates—But Is a Price Bottom Closer Than It Looks?

Historically, negative NUPL readings mark the late stages of a bearish cycle. It usually precedes a price bottom and eventual rebound in an asset’s price. This happens for two reasons.

First, when many holders are sitting on losses, they are often unmotivated to sell. Instead, they choose to wait for a recovery to break even. This behavior reduces selling pressure, which can help stabilize the asset’s price over time. As volatility declines and the price begins to consolidate, it creates conditions that encourage fresh SHIB buying and potentially drive the price upward.

Also, periods of capitulation tend to flush out “weak hands” while paving the way for “diamond hands” (more confident, long-term investors) to enter the market. These more resilient buyers accumulate during market distress, bringing in capital that could support a bullish price reversal. 

Will SHIB Reclaim Higher Ground Above $0.000012?

At press time, SHIB trades at $0.00001180. If selling pressure wanes and fresh buying resumes, it could propel the meme coin past the immediate resistance at $0.0000198. A breach of this price barrier could propel SHIB toward $0.00001362.

However, if bearish pressure strengthens and the decline continues, SHIB’s price could fall to $0.00001105.

Adding to the short-term bearish outlook is SHIB’s declining burn rate. Over the past day, this has dropped by 92%. As fewer tokens are being taken out of circulation, it makes it harder for SHIB’s price to rally in the absence of new demand.

If burn activity fails to recover soon, it could delay SHIB’s attempt to reclaim higher price levels.

The post Shiba Inu Faces Capitulation—What’s Next as 87% of Holders Sit in Loss? appeared first on BeInCrypto.