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OnChain

Satoshi-Era BTC on Move, On-chain Data Finds

by admin May 23, 2025

On-chain analytics platform Glassnode noted in a recent tweet that 15 years after Laszlo Hanyecz made history by spending 10,000 BTC (now worth $1.1 billion) on two pizzas, some of those early-era Bitcoins are still moving.

According to Glassnode, Bitcoin from the Satoshi era, which refers to the period when the Bitcoin creator was still active in the crypto space, is quietly shifting on-chain. These ancient wallets, which were formerly deemed dormant, have seen fresh activity in recent months.

Glassnode observed that the >10-year cohort’s share of Bitcoin’s Realized Cap has dropped from a peak of 0.045% to 0.033%. Notably, this decline accelerated between December and February and has picked up again since April 20.

15 years after Laszlo bought pizza for 10,000 $BTC – now worth over $1.1B – some of that era’s coins are still moving.

The >10y cohort’s share of #BTC‘s Realized Cap fell from peak 0.045% to 0.033%, with steep declines from Dec–Feb and again since Apr 20.#Bitcoin #PizzaDay pic.twitter.com/FoGbgG01Ba

— glassnode (@glassnode) May 22, 2025

The timing of the reawakening of these ancient coins in December to February as well as in April aligns with the rise in the price of Bitcoin. Bitcoin reached six figures for the first time in December, peaking in January at $109,114, following which the price fell.

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Bitcoin revived its uptrend from lows of $74,553 in April, with its recent surge casting the spotlight on early holders, including its mysterious creator Satoshi Nakamoto, whose net worth has recently pushed higher in the top global rankings.

Bitcoin reaches all all-time high on Pizza Day

Bitcoin hit a new all-time high of $111,903 on the 15th anniversary of Bitcoin Pizza Day.

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In 2010, Laszlo Hanyecz performed the first known commercial Bitcoin transaction, purchasing two pizzas for 10,000 BTC. The 10,000 BTC used for the pizza transaction are now worth over $1.1 billion, demonstrating the cryptocurrency’s extraordinary growth in value.

Bitcoin’s price climbed to fresh highs above $111,000, sparking unprecedented activity on the Deribit options market. Deribit’s open options contracts totaled a record $42.5 billion, showing elevated market interest.

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May 23, 2025 0 comments

Crypto Trends

Alleged Coinbase hacker trolls ZachXBT with on-chain message after swapping $42.5m BTC

by admin May 22, 2025

Crypto sleuth ZachXBT revealed that the hacker accused of stealing Coinbase customer data left him a taunting message on-chain after swapping $42.5 million worth of BTC for ETH on THORChain.

In a broadcast message sent to his Investigations Telegram channel, on-chain investigator ZachXBT claimed to have received a message sent from a hacker accused of swindling more than $300 million worth of crypto assets from users. The message was sent to his on-chain Ethereum (ETH) account.

“The threat actor who stole $300M+ from Coinbase users by paying customer support just began trolling me on-chain with this message,” said ZachXBT in his Telegram message.

The message was sent from an address simply named Fake_Phishing1158790 and contained the words “L bozo” and what appeared to be a link to a YouTube video showing the viral internet short clip of former NBA athlete James Worthy smoking a cigar after a Lakers win.

“Smoking that ZachXBT pack,” one user commented under the YouTube video, indicating they were led to the video after seeing the on-chain message addressed to the crypto sleuth.

The message was linked to the alleged hacker’s recent on-chain transaction, which consisted of swapping $42.5 million worth of BTC (BTC) for ETH via THORChain.

The Coinbase user data exploit was first disclosed by the exchange on May 15. The hacker was believed to have bribed customer support staff to steal sensitive user data.

According to Coinbase, the attacker was able to get ahold of phone names, addresses, phone numbers, government-issued IDs, and other account data. The exchange claimed that the exploit only affected less than 1% of users.

After firing the customer service workers involved, the company estimated the breach could cost up to $400 million to resolve. The attackers had asked for a $20 million ransom from the crypto exchange. Coinbase refused to pay the $20 million ransom and is offering a bounty for anyone who can track down the attacker.

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May 22, 2025 0 comments

Crypto Trends

Coinbase hacker trolls ZachXBT onchain after $42.5M THORChain swap

by admin May 22, 2025

The hacker behind the data breach targeting Coinbase users mocked blockchain investigator ZachXBT with an onchain message following a major crypto swap.

On May 21, the hacker used Ethereum transaction input data to write “L bozo,” followed by a meme video of NBA player James Worthy smoking a cigar.

The message came after the attacker swapped about $42.5 million from Bitcoin (BTC) to Ether (ETH) via THORChain.

ZachXBT flagged the message on his Telegram channel, linking it to the same entity responsible for the Coinbase data breach affecting at least 69,400 users.

Coinbase hacker trolling ZachXBT. Source: ZachXBT.

On May 22, blockchain security firm PeckShield reported that the hacker had continued to move funds, swapping 8,697 ETH for 22 million Dai (DAI). A separate but closely linked address, which received 9,081 ETH via THORChain, also converted the assets into 23 million DAI.

Related: DOJ is investigating Coinbase data breach— Report

Coinbase hit with lawsuits after breach

The Coinbase breach, first reported in a filing with the Maine Attorney General’s office, occurred in December 2024 and was discovered on May 11. The stolen data includes names, home addresses and other personal information.

Following the disclosure, the attackers demanded a $20 million ransom in Bitcoin to prevent the release of the stolen data. Coinbase refused and instead offered a $20 million bounty for information leading to the identification of the hackers.

The company estimates a potential financial impact between $180 million and $400 million due to remediation costs and customer compensation.

Coinbase has also faced a wave of lawsuits following the revelation. At least six legal complaints were filed on May 15 and 16, with plaintiffs accusing the exchange of failing to implement adequate security measures and mishandling its response to the breach.

Related: Coinbase data leak could put users in physical danger: TechCrunch founder

THORChain under scrutiny for criminal use

The Coinbase hacker’s use of THORChain to swap $42.5 million worth of Bitcoin into Ether comes as the protocol faces growing scrutiny over its role in facilitating illicit transactions.

In March, the platform came under fire after its swap volume surged following the $1.4 billion Bybit hack. The protocol generated over $5 million in revenue after processing $5.4 billion in swap volume, with over $1 billion moved in a single day.

Blockchain security firms identified North Korea’s Lazarus Group as the main suspect, using THORChain to launder a significant portion of the stolen funds.

Source: Lookonchain

The controversy intensified when a THORChain developer, known as “Pluto,” resigned after a vote to block transactions linked to Lazarus was overturned.

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story

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May 22, 2025 0 comments

GameFi Guides

1,388,655 Solana Suddenly Moves On-chain, What’s Happening?

by admin May 21, 2025

Solana (SOL) is witnessing increased activity. In two separate transactions, Solana whales moved 1,388,655 SOL on-chain. Whale Alert, a platform tracking such large transactions in the market space, spotted transfers between unknown wallets.

Solana investors watch for follow-up whale moves

According to Whale Alert, the total value of both transfers is $235,449,867. The huge transfers caught the attention of the tracking platform, as they could have several implications for Solana’s price outlook.

Notably, when large holders move their assets, it could signal their intention to sell, redistribute or secure them. As for the current movement, it is worth noting that it was not sent to an exchange, so the holder might have been in a redistribution mood.

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However, it does not prevent the whale from proceeding to send to an exchange afterwards. In the meantime, no action has been taken.

Over the past seven days on the crypto market, Solana has continued to stagnate between $160 and $175. The token has been unable to find stability above the $175 level to support an attempt to hit $180.

As of press time, Solana’s price was changing hands at $171.84, representing a 3.27% increase in the last 24 hours. However, the ecosystem is witnessing a slight pullback from investors, as trading volume has slipped by 5.77% to $3.59 billion within the same time frame.

SOL technical indicators point to imminent test

Amid these developments, sentiment remains bullish for Solana to make a surprise comeback and surge toward the price of $200. The optimism rests on broader market indicators like the ongoing rally of Bitcoin, the leading digital currency.

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Additionally, Solana’s short-term exponential moving averages, such as the 26-day EMA, suggest a possible bullish setup for the coin.

However, Solana faces a crucial price test in its upward momentum as its 200-day Simple Moving Average highlights a major resistance at $181.

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May 21, 2025 0 comments

NFT Gaming

No, Bitcoin Price Is Not Overheated Yet, Bullish Data Emerge On-chain

by admin May 21, 2025

The leading digital currency Bitcoin (BTC) has kept investors speculating since May 8, when it breached the $100,000 level. Many anticipated a bullish rally above its current all-time high (ATH) of $109,114, but this has yet to happen, leading some to believe that Bitcoin is overheated.

NVT golden cross signals market still in safe zone

However, per CryptoQuant insights, a Bitcoin on-chain metric, the Network Value to Transaction (NVT) has not signaled overheating yet.

According to CryptoQuant, Bitcoin NVT Golden Cross has reached 1.51 points, which is still some comfortable points away from the overheated zone of 2.2.

NVT Golden Cross Doesn’t Signal Overheating Yet

“Historically, readings above 2.2 have signaled the beginning of overheated conditions. While we’re not there yet, the rising trend deserves attention.” – By @burak_kesmeci pic.twitter.com/YaClQtHt6F

— CryptoQuant.com (@cryptoquant_com) May 21, 2025

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Notably, the NVT Golden Cross is a valuation tool that compares Bitcoin’s market capitalization to the network’s transaction volume. This comparison aims to show whether the asset is overvalued or undervalued in the short term.

Although it does not have a 100% accuracy rate, a value above 2.2 has historically marked periods when BTC is tagged overheated. Due to speculation, the asset is experiencing a price increase faster than real network usage.

The current value of 1.51 highlighted by CryptoQuant suggests that although the metric is climbing and investors should pay attention, it does not constitute a red flag yet.

However, traders might want to monitor the development closely to avoid being caught unawares while making speculative guesses.

Bitcoin investor appetite on rise

The update appears necessary as Bitcoin has seen a spike in investor interest on the crypto market.

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As reported by U.Today, Bitcoin Open Interest recently hit $74 billion as the price rallied, triggering renewed confidence among traders betting on the futures market.

Meanwhile, institutional interest has also increased, with Bitcoin exchange-traded funds (ETFs) recording impressive inflows. According to data, a total of $329.02 million of inflows were recorded on May 20, 2025, on the Bitcoin ETF market.

According to CoinMarketCap data, the Bitcoin price has increased by 1.59% to $106,654.59 in the last 24 hours.

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May 21, 2025 0 comments

NFT Gaming

XSGD Stablecoin by StraitsX, With 8B On-Chain Transactions, Launches on XRP Ledger

by admin May 19, 2025

Crypto infrastructure provider StraitsX debuted its Singapore dollar-pegged stablecoin, XSGD, on the XRP Ledger (XRPL) to cater to growing demand for regulated multi-chain stablecoins supporting real-time cross-border payments.

Digital asset developers, fintechs firms and financial institutions can use XSGD to conduct cross-border transactions, settle transactions on-chain and create programmable financial flows. XGSD is being powered by XRPL, a decentralized public blockchain from Ripple.

StraitsX, a major payment institution licensed by the Monetary Authority of Singapore, began issuing XSGD in 2020. The stablecoin pegged to the Singapore dollar is fully backed 1:1 by reserves held with DBS Bank and Standard Chartered.

As of writing, XSGD had a total supply of 14.12 million, with an onchain transaction count exceeding 8 billion. The stablecoin is available on Arbitrum, Avalanche, Ethereum, Polygon, Hedera and Zilliqa.

“At StraitsX, we’ve always approached stablecoins not just as digital representations of fiat, but as critical infrastructure for the future of financial markets. Launching XSGD on the XRP Ledger is a meaningful step toward that vision – an expansion of interoperability, programmability, and access across networks that were purpose-built for real-world value exchange,” Co-Founder and deputy of StaitsX, Liu Tianwei, told CoinDesk.

Regulated stablecoins like XSGD are better positioned to see increased adoption in the expected boom in cross-border economic activity in the coming years. For instance, per some estimates, cross-border e-commerce in Asia is expected to surpass $4 trillion by 2030. Meanwhile, global cross-border payments are projected to hit $250 trillion by 2027, according to a report published by Infosys Finacle last year.

The report mentioned Ripple while discussing various methods fintechs employ for money transfer. The report said that Ripple’s real-time settlement of funds “eliminates the need for pre-funding destination accounts and supports low-cost payments within seconds.”

Opening move

The debut of XSGD on the XRP Ledger marks the beginning of a series of upcoming rollouts outlined under the strategic partnership, the press release said.

In June, StraitsX plans to introduce a second phase focused on institutional applications, including programmable payouts, merchant settlements, and seamless compliance integrations for various financial workflows.

“StraitsX’s launch of XSGD on the XRP Ledger underscores that digital assets, including stablecoins, could play a pivotal role in payments” said Fiona Murray, managing director of APAC at Ripple.

“We are seeing a growing appetite for stablecoins like XSGD to support enterprise-grade use cases across payments, liquidity, and compliance-first infrastructure. Our collaboration with StraitsX to bring XSGD to the XRP Ledger supports our commitment to delivering regulated assets that can reshape cross-border payments and unlock value for financial institutions,” Murray added.

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May 19, 2025 0 comments