Cryptocurrency
Post-FTX Era: Bitcoin Whale Wallets Reclaim Correlation with Market Value

Bitcoin has declined over the past several days as bears remained vigilant near $70,000. As a result, the premier cryptocurrency has shed more than 4% over the past week and was trading near $66,000 at the time of writing.
Interestingly, wallets with 10 or more BTCs have collectively reached their highest holding level in two years. Data suggests that the absence of FTX’s influence may have potentially allowed the market to reflect demand more accurately.
Whale Wallets Mirror Pre-FTX Collapse Levels
According to the latest findings by Santiment, this period has seen bitcoin’s price surge by approximately 226%. To put it into perspective, this group of wallets collectively held 16.16 million BTC, which is 84.8% of the supply back on June 16, 2022.
Zooming out to June 16, 2024, wallets with 10+ BTC currently hold 16.16 million BTC, which represents 82% of the total bitcoin supply.
Santiment also highlighted the emergence of speculation that former FTX chief and convicted crypto mogul Sam Bankman-Fried was actively suppressing crypto prices in the latter half of 2022. Since its collapse in November 2022, a clear correlation has emerged between the increased holdings of this wallet cohort and the overall market value of BTC.
“But since the exchange’s collapse in November 2022, there has been an undeniable semblance of correlation between 10+ BTC wallet holdings and the coin’s overall market value.”
This could essentially mean that when FTX was operational, there may have been forces acting to decouple or distort the typical correlation between large-holder buying/selling behavior and market prices. But in the post-FTX era, that correlation appears to have reasserted itself, with the holdings of major Bitcoin whales more directly impacting and reflecting the broader market valuation.
As such, Santiment’s data suggests FTX’s activities may have been an anomalous factor influencing crypto prices until its failure, after which whale wallet holdings have reverted to being a stronger indicator of market trajectory.
Rigged
The mass bitcoin selling was first revealed by Caroline Ellison, the former CEO of FTX’s sister hedge fund, in the dramatic FTX trial last year. She claimed that the disgraced FTX founder had conspired with her to manipulate and keep the bitcoin price below $20,000 using customer funds.
Ellison provided evidence in the form of a document that read, “Keep selling BTC if it’s over $20k.”
The testimony led many experts to believe that bitcoin’s failure to hit $100,000 during the 2021 bull market was due to this artificial sell pressure created by FTX execs.
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Cryptocurrency
BlackRock’s ETH ETF Could Soon Offer Staking—SEC Filing Moves Forward

The US Securities and Exchange Commission has acknowledged BlackRock’s filing about allowing investors in its flagship Ethereum ETF to stake their assets.
Although this development doesn’t guarantee an official approval of the filing, it’s still a big step in the right direction.
NEW: U.S. SEC ACKNOWLEDGES BLACKROCK’S FILING TO ALLOW STAKING IN ITS SPOT $ETH ETF
— The Wolf Of All Streets (@scottmelker) July 29, 2025
The “acknowledged” part means that the securities watchdog has confirmed that it has received certain amendments made by the ETF issuer. Typically, the SEC also opens a public comment period, allowing stakeholders to weigh in on the matter.
BlackRock and Nasdaq submitted a 19b-4 rule change proposal that aims to allow investors using the iShares Ethereum Trust (ETHA) to stake ETH with staking rewards treated as income to the fund.
ETHA is by far the largest Ethereum ETF, and it became the third-fastest to reach a $10 billion AUM milestone within less than a year after its launch.
It continues to attract substantial net inflows. The last day in the red was on July 2, with $46.9 million leaving the fund. Since then, it has been on a massive roll, attracting nearly $4 billion in net inflows in less than a month.
The underlying asset’s price has benefited substantially from these enormous inflows, having surged by over 50% in the past month alone. Moreover, ETH is up by more than 150% since its bottom in early April and is close to knocking on the $4,000 door now.
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Cryptocurrency
Ripple Price Reversal Incoming as Investors Pull XRP Off Exchanges?

TL;DR
- XRP whales move over 80M tokens off exchanges, signaling long-term holding behavior.
- $845M in single-day losses follows co-founder’s $140M sell-off amid price pressure.
- RSI cools from an overbought zone, indicating that XRP may be stabilizing after the recent price drop.
Exchange Supply Drops Sharply
Between July 23 and July 26, the amount of XRP held on centralized exchanges dropped from around 4.45 billion to just over 4.25 billion, based on Glassnode data. This change suggests large holders may be moving their funds into cold storage rather than keeping them liquid.
According to Captain Redbeard, the shift shows users are not preparing to sell. Instead, they appear to be withdrawing assets, possibly to hold through current market conditions.
Glassnode data showed a clear decline in $XRP held on exchanges, suggesting that holders are moving assets into private wallets rather than preparing to sell pic.twitter.com/9osNr7w1M7
— Captain Redbeard ♂️ (@Brett_Crypto_X) July 29, 2025
XRP was priced at $3.15 at press time, down 3% in the past 24 hours and nearly 9% over the last week. The asset has slipped steadily since reaching a new all-time high at $3.65 on July 18. Despite this, wallet outflows have continued. The behavior suggests many holders are not rushing to exit positions.
Analyst Ali Martinez said that losing the $3.15 level could open the door to a test of $3. He added that such a move “could present a solid buy-the-dip opportunity.” That level now acts as the nearest key support zone.
Selling Spikes After Insider Move
On-chain data shows roughly $845 million in realized losses over the past day, one of the most significant single-day sell-offs this month. This followed reports that a Ripple co-founder sold $140 million worth of XRP. The move added pressure to an already declining market.
While some investors are taking profits, trading volume remains strong at $6.2 billion. XRP continues to trade well below its all-time high, and recent activity shows a cautious mood.
Momentum Builds Underneath
The BBTrend value now sits at 27.66, pointing to a shift in short-term momentum. The recent expansion in green bars indicates renewed buying interest.
Meanwhile, the Relative Strength Index (RSI) has declined to 59 against the recent peak of 72. This shift indicates that the asset is no longer overbought, and it could now stabilize.
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Cryptocurrency
Dormant XRP Wallets Spring to Life – What Does This Mean for Ripple’s Price?

After hitting an all-time high of $3.65 in mid-July, XRP has entered a phase of consolidation. The token is gradually retracing to hover around the $3.15 mark. Despite multiple attempts to break higher, XRP has faced resistance near $3.3.
This price action reflects a cooling-off period following the sharp rally from early July, when it surged from around $2.2. Interestingly, older XRP wallets are on the move again, which could impact the asset’s future price trajectory.
Old Coins Return to Circulation
XRP is still up by almost 46% over the past month while holding slightly shaky at the $3.15 support level. According to Santiment’s latest data, one important on-chain signal is the reactivation of dormant coins, which suggests renewed investor interest and participation from long-term holders.
The average age of XRP investments has dropped by 91 days and is now standing at 593 days. This means that a wave of older wallets is moving assets back into circulation. Historically, such behavior has often preceded or accompanied bullish price action, lending further weight to the current market momentum.
However, crypto analyst Ali Martinez warned that if XRP fails to hold the crucial $3.15 support level, the crypto asset could retrace to the $3 mark. While this potential dip may concern short-term traders, Martinez said it could offer a compelling buy-the-dip opportunity for investors anticipating a rebound, especially given XRP’s strong performance and recent on-chain activity.
While traders eye short-term price action, major players are taking a longer-term view – especially through large-scale XRP allocations.
XRP Gains Institutional Traction
In what appears to be a growing corporate confidence in XRP as a strategic asset, Hyperscale Data has officially launched its $10 million XRP treasury program. The company plans to provide weekly updates starting August 12, in a bid to boost transparency and investor trust.
With a possible 36-month lockup under consideration, Hyperscale’s move indicates a long-term commitment rather than short-term speculation. The latest development comes on the heels of Nature’s Miracle’s $20 million XRP plan.
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