The recent bitcoin bull market has just been that: a bitcoin bull market with altcoins taking the back seat as institutions rallied around spot bitcoin ETFs and BTC-based treasuries. 🏦
This latest escapade has catapulted Bonk’s (BONK) price to a dizzying 113% increase over the past month, with a 61% boost in the past week alone, defying the laws of gravity and reason. Its trajectory from the depths of $0.000019 to the lofty heights of $0.000034 is a testament to the boundless enthusiasm of its devotees. 🚀
It appeared that XRP had a liquidation footprint of $415,610 in the last hour, a number that, on its own, was hardly surprising. However, the devil, as they say, was in the details. The split behind that number was nothing short of astonishing – almost the entire XRP liquidation volume was concentrated on the short side. Longs, on the other hand, were barely touched, with a paltry $812.87 in losses. Shorts, meanwhile, were hemorrhaging a staggering $414,800 – a ratio that translated to a liquidation imbalance of over 51,209%. 📊
How did this all happen? Well, according to the blockchain security detectives at SlowMist (who, let’s be honest, should probably get a cape), the breach was discovered on July 16. SlowMist claims that the production network was… well, compromised. Yep, someone got their hands on the account and risk control servers and started transferring funds like it was a game of Monopoly with real money.
As North Korea continues its crypto escapade to fund its less-than-charming weaponry programs, the U.S. is ramping up its efforts to snuff out this digital chicanery. On July 8, the Treasury Department slapped sanctions on a hacker named Song Kum Hyok, who allegedly masterminded a scheme involving clueless tech companies entrusting their remote work to the likes of… well, someone who probably shouldn’t have been allowed to operate a toaster, let alone handle sensitive blockchain infrastructure.
The filing, a document as dry as the Sahara yet as significant as the discovery of a new continent, lists the stake across six Delaware vehicles, with Thiel himself named as the ultimate manager, wielding shared voting and dispositive power. Yet, in a move that might be seen as either a sign of humility or a cunning strategy, the filing checks the passive-investor box, signaling no immediate intent to seek control of the Las Vegas-based firm. 🏛️
But, as the saying goes, “the show must go on.” And, indeed, it does. The DeFi ecosystem, known for its mercurial nature, is already evolving at breakneck speed. New crypto projects are sprouting up, each vying to fill the innovation gap and propel decentralized finance to unprecedented heights 🚀.
Bitcoin soared to an all-time high of $122,000 on July 14, yet onchain data reveals no signs of overheating, hinting at further growth in 2025. 📈
Despite this minor blip, institutional investors are still queuing up to get in on the action. It’s like they’re trying to get into the most exclusive club in town, and Bitcoin ETFs are the bouncers taking their cash 💸.
Why, on the fine day of Wednesday, July 16, VELO leapt up to the dazzling height of $0.01740, marking its grandest swing since the 3rd of March and a jubilant 105% bounce from its dreadful low this year! Quite the concern for those who lost their marbles over it! 🤪
