A long-dormant Bitcoin whale has resurfaced, moving funds untouched since 2012.

On Sept. 11, blockchain tracker Lookonchain revealed that three connected addresses shifted 137 BTC, worth about $15.6 million, out of a cache of 955 BTC (equivalent to $108 million).

According to the firm, a small portion of the funds, 5 BTC, was sent to Kraken, suggesting an intent to sell.

Notably, the addresses were last active when Bitcoin traded at just $12 per coin, leaving their combined balance valued at around $10,000 at that time.

However, with BTC price near $113,000 as of press time, that same stash is currently worth more than $108 million, according to CryptoSlate’s data. This represents a gain of over 10,000% in just over a decade.

Dormant Bitcoin wallets resurface

This movement fits into a recent trend of long-dormant Bitcoin wallets reawakening after several years of inactivity.

Enrollment Closing Soon…

Secure your spot in the 5-day Crypto Investor Blueprint before it disappears. Learn the strategies that separate winners from bagholders.

Brought to you by CryptoSlate

Nice Your first lesson is on the way.

Please add [email protected] to your email whitelist.

For context, CryptoSlate reported that Galaxy Digital executed a $9 billion Bitcoin sale in July linked to a Satoshi-era holder. Another whale investor steadily rotated billions from Bitcoin into Ethereum in August, causing a brief market decline for the top crypto.

In addition, CryptoQuant analyst JA Maartunn pointed out that these transfers are not isolated cases, as more than 604,000 BTC aged three to five years have moved on-chain since March.

This surge in wallet activity marks one of the most significant behavioral shifts among long-term Bitcoin holders in recent memory. Investors in this cohort typically endure multiple market cycles without moving their coins, so their sudden transfers carry weight.

Against that backdrop, many analysts see the transfers as profit-taking, with holders choosing to lock in gains as Bitcoin breaks through the $110,000 mark to new highs.

However, others interpret the activity differently. They suggest it reflects portfolio rebalancing of rotating capital from Bitcoin into Ethereum and select altcoins as institutional demand for crypto rises.

Mentioned in this article

Shiba Inu’s active addresses have crashed over 50% in three months, providing a bearish outlook for the top meme coin. This development has also coincided with the SHIB price crash during this period. 

Shiba Inu’s Active Addresses Crash Over 50%

Santiment data shows that Shiba Inu’s active addresses have crashed by over 50% since they peaked on May 2 at around 7,800. Since then, this metric has been on a downtrend, dropping to as low as 2,500 earlier in June. Now, the number of active SHIB addresses is currently at an average of 3,000. 

Related Reading

The drop in Shiba Inu’s active addresses has followed the crash in the SHIB price. Notably, the meme coin reached a peak of around $0.17 in May and has been in a downtrend since then. CoinMarketCap data shows that Shiba Inu is down over 10% from its 3-month high in May. SHIB’s decline has occurred despite the bullish sentiment in the broader crypto market. 

During this period, Bitcoin and Ethereum have rallied to new all-time highs (ATHs). However, the SHIB price has underperformed despite its positive correlation to the flagship crypto assets. Meanwhile, Shiba Inu’s network growth also paints a bearish picture for the meme coin. Santiment data shows that this metric has been on a downtrend since it peaked in July. 

Back then, the network growth hit 2,309 in reference to the number of new users adopting Shiba Inu. Since then, the network growth has spiraled down, dropping to as low as 1,078 on September 1. However, a positive for the SHIB price is that the number of holders has increased during this period. 

Santiment data shows that the total number of SHIB holders has increased during the past three months and is currently at 1.53 million. This suggests that investors continue to believe in the SHIB price’s trajectory, despite its underperformance so far. The meme coin is down over 43% year-to-date (YTD). 

SHIB Price Confirms Bullish Pattern

From a technical analysis perspective, crypto analyst Javon Marks has also provided a bullish outlook for Shiba Inu. In an X post, he stated that the SHIB price has confirmed a bullish pattern in a regular bull divergence, as indicated by the MACD Histogram. 

Related Reading

Marks explained that this suggests that a major bullish reversal back to the upside may be on the horizon. This could include a rally of over 163% to the $0.00003 range, which the analyst claimed may only be the start. As the SHIB price continues to hold its breakout over an older structure, he predicted that the meme coin could record a rally of over 570% to the $0.000081 breakout target. 

At the time of writing, the Shiba Inu price is trading at around $0.00001228, up over 2% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Getty Images, chart from Tradingview.com

However, the price of BTC appears to have returned to its sluggish pattern of action over the weekend, dropping to around $115,000 on Saturday, August 23. According to the latest on-chain data, the BTC price might be stuck in this phase of muted action in preparation for its next move.

BTC Market Activity Wanes — What’s Next For Price?

In a new post on social media platform X, Alphractal revealed that the Bitcoin market seems to be shaping up for the next big move in the coming weeks. This projection is based on the 30-Day Active Supply metric, which measures the number of unique coins that moved at least once over the past month.

The 30-Day Active Supply metric functions as a thermometer of the market interest in BTC, indicating both overheated and cool market conditions. When the metric rises, it suggests the inflow of fresh capital circulating and stronger investor activity.

Historically, increases in the Bitcoin 30-Day Active Supply have often coincided with price tops and bottoms, especially as investors are inclined to move their coins around during times of extreme greed or fear. Hence, a rise in the metric can be associated with a potential market reversal.

Meanwhile, a drop in the Bitcoin 30-Day Active Supply metric signals calmer market conditions with hesitation among investors, typically after periods of high stress or enthusiasm. When fewer coins are on the move and supply is relatively stable, a tightening effect takes place in the market.

According to data from Alphractal, the Active Supply indicator shows that the Bitcoin market has witnessed a cooldown in activity in recent weeks. The on-chain analytics firm added that the slowdown in the market activity could mean that the BTC price is preparing for the next big move.

With an improving macroeconomic environment, the Bitcoin price appears to be consolidating within a narrow range beneath its all-time high. Hence, a sudden spike in activity could see the market leader enter a new expansion phase, with the potential to hit new highs.

Bitcoin Price At A Glance

As of this writing, the price of BTC sits just above the $115,000 mark, reflecting an almost 2% decline in the past 24 hours. According to data from CoinGecko, the premier cryptocurrency is down by more than 2% in the last seven days.

Coinbase launched a second Stablecoin Bootstrap Fund to provide additional liquidity for the DeFi ecosystem via USDC.

According to an Aug. 12 announcement, the initiative will target protocols across multiple blockchains, starting with Aave, Morpho, Kamino, and Jupiter. Coinbase also invited protocols seeking liquidity to reach out to the exchange. 

The fund represents Coinbase’s renewed commitment to accelerating stablecoin adoption across mature and emerging protocols after its original 2019 Bootstrap Fund.

Time for growth

Coinbase’s first Bootstrap Fund helped establish marketplaces for USDC across blue-chip DeFi protocols such as Uniswap, Compound, and dYdX during the early stages of DeFi development.

Notably, USDC has become the leading stablecoin in DeFi with an estimated $8.9 billion in total value locked (TVL) and $2.7 trillion in annual on-chain transaction volume.

A Coinbase spokesperson explained in a note that the timing reflects current market conditions and growth opportunities:

“We’re at an inflection in adoption of onchain financial services. We saw how successful the first fund was in helping drive the initial wave of onchain stablecoin liquidity, and saw an opportunity to leverage Coinbase’s resources to further accelerate the interest and adoption that we’re seeing today.”

The record-breaking $40.7 billion in active DeFi loans represents one factor motivating the fund’s launch.

However, the spokesperson noted crypto-backed loans constitute “a prime example of this adoption and ongoing growth, but not the only reason” for the initiative.

The fund seeks to ensure deeper liquidity for stablecoins across the on-chain ecosystem, enabling users to access reliable rates across both established and emerging protocols.

Scaling over time

Coinbase plans to scale the fund over time and distribute liquidity across additional protocols and stablecoins beyond the initial four recipients. The launch can have a direct and positive impact on USDC usage in DeFi.

Adding more liquidity to the largest decentralized money markets will decrease the borrow rate for USDC on those venues, potentially making the stablecoin more interesting for on-chain leverage. The fund could also bring more money on-chain.

Lastly, the company expressed particular interest in collaborating with pre-launch teams or projects seeking to drive stablecoin growth from inception. 

The spokesperson concluded:

“We believe now is the time to build, and the Stablecoin Bootstrap Fund is here to inject liquidity in projects that can make an impact on the ecosystem no matter the size.”

Mentioned in this article

Bitcoin remains in a tight consolidation range after setting a new all-time high above $123,000 just 10 days ago. The current range, between $117,000 and $120,000, reflects a pause in momentum as the market digests recent gains and prepares for its next major move. While volatility has cooled, underlying metrics suggest that the broader trend may still have room to run.

Related Reading

One key indicator drawing attention is the percentage of supply active in the past 180 days (% Supply Active). This metric has historically surged during major macro turning points. In spring 2024, as BTC approached $70,000, % Supply Active climbed to 20%. It rose again to 18% in December 2024, when Bitcoin first broke through the psychological $100,000 barrier. These spikes reflected long-dormant coins moving out of storage—often interpreted as early signals of broader distribution phases beginning.

Currently, the market is showing only initial signs of renewed supply activity, suggesting that we may still be in the early stages of this cycle’s distribution phase. As long-term holders remain relatively inactive and Bitcoin trades near record levels, the stage may be set for further upside if accumulation resumes and new capital enters the market.

Supply Activity Signals Early Stage Of Bitcoin Macro Expansion

Top analyst Axel Adler recently shared key insights pointing to a potential early phase in Bitcoin’s ongoing macro cycle. According to Adler, supply activity began rising in June 2025 as BTC crossed the $100,000 mark. Over the past 30 days, this metric has climbed from negative territory to +2.4%, signaling the beginning of a shift in holder behavior. While the increase confirms early signs of distribution, it remains modest compared to previous cycle peaks.

Historically, major bull markets see this 30-day % Supply Active rise dramatically. Adler highlights that the current pace lags behind prior peaks—like those seen when BTC reached $70,000 in spring 2024 or when it breached $100,000 in December 2024—suggesting that the market still has a considerable buffer before entering a heightened distribution phase. This delayed spike in activity implies that most long-term holders remain committed and are not yet ready to offload their coins.

As Bitcoin consolidates near the $120,000 level, this growing yet restrained activity indicates a healthy cycle structure. Adler predicts that if BTC continues to climb and hold above $120,000, the 30-day % Supply Active will likely move into the 8–10% range. Ultimately, it could revisit the 18–20% zone seen at past distribution tops.

The Bitcoin price action in June has displayed healthy swings from a low of about $100,500 to as high as $111,000. While it has lacked the impulsive momentum seen in past cycles for more bullish swings, the premier cryptocurrency has managed to maintain its valuation above $100,000.

Over the past week, BTC has displayed relative price stability, with modest bullish movement at intervals. The cryptocurrency continued to trade within a tight range for most of the week, mirroring a mix of optimism and caution amongst market participants.

Active Addresses Mirror 2020 Levels

In a June 20 post on social media platform X, on-chain analytics firm Alphractal published its recent findings on the Bitcoin active addresses, revealing that the flagship cryptocurrency does not show an indication of market euphoria. 

Related Reading

The relevant on-chain indicator here is the Active Addresses metric, which measures the number of unique addresses that are active on the Bitcoin network within a specific timeframe. To be clear, an address is “active” if it is receiving and sending Bitcoin during a particular period. 

The chart shared by Alphractal shows that active addresses are at the same level as in 2020. The analytics firm pointed out that as of 2020, the market was facing political uncertainty, dealing with a global pandemic, and widespread social fear, as the effects on market engagement are what is currently being witnessed.

In the post on X, Alphractal highlighted two possible reasons for this seeming lack of enthusiasm seen in investors. Firstly, the market intelligence firm noted that investors might have become disillusioned with all that is currently happening in the crypto market, regardless of Bitcoin’s value comfortably being above $100,000.

On the other hand, Alphractal put forward the possibility that this relative inactivity could be a result of a strong long-term conviction in the flagship cryptocurrency as a store of value. However, this second reasoning was immediately put down by Alphractal as readings from two other indicators — the on-chain volume and spot volume — are both low, indicating little global interest in the cryptocurrency.

As Bitcoin still prevails above $100,000, this could be a strong indication, Alphractal explained, “that only the most resilient are taking advantage of the long-awaited $100k per BTC.”

Bitcoin Price At A Glance 

As of this writing, Bitcoin is valued at about $103,290, reflecting an over 1% price decline in the past 24 hours. According to data from CoinGecko, the price of BTC has fallen by about 2.4% in value over the past seven days.

Related Reading

Featured image from iStock, chart from TradingView

XRP has traded beyond key support levels and shows signs of strength as the broader crypto market struggles with sustained sales pressures and macroeconomic headwinds. While many digital assets have been struggling with sudden revisions in recent weeks, XRP is one of the most resilient performers, surpassing the key technology zone and raising investor interest.

Related readings

With market sentiment slowly recovering, many traders are focusing on XRP as a potential leader in the next wave of profits. Analysts believe that once the market stabilizes, it could become one of the first Altcoins to return to its previous highs. This optimism is supported by fresh on-chain data.

According to GlassNode metrics, the XRP network has recorded nearly 627,000 active addresses. This surge in network use suggests an increase in profits and adoption. This is a sign of bullishness that often leads to price acceleration. High address activity usually indicates that more users interact with the network through transactions, accumulation, and transactions.

If the broader market situation improves, this surge in activity could further drive XRP rise. As it stands, XRP is well above its main support range and looks ready for a breakout once bullish momentum returns to the market.

XRP Network Activity is where the Bulls protect key levels

Macroeconomic uncertainty and burgeoning volatility continue to shake up both the crypto and stock markets, fostering widespread fear and causing panic sales across asset classes. US trade war concerns, inflationary pressures and volatile policy moves have kept investors ahead of the board, leading to deep revisions in most cryptocurrencies. But amid this uncertainty, XRP stands out for its incredible resilience.

Related readings

Compared to major altcoins like Solana and Ethereum, both suffered significant losses, XRP remains at a strong technology level. The Bulls are able to defend key demand zones, and their current focus is reclaiming key supply areas to validate new uptrends. Despite the weaknesses of the overall market, the asset’s ability to hold support has attracted attention from both analysts and investors.

Top analyst Ali Martinez shared GlassNode’s on-chain data and revealed that XRP’s network activity is rising rapidly. With the highest 627,000 active addresses since April 2023, XRP shows new signs of adoption and use. Historically, active address spikes have correlated with bullish momentum. This is because the increase in participation usually reflects investors’ trust and trading demand.

If XRP maintains its support base and continues to show the strength of the network’s foundations, it could become one of the first altcoins once market sentiment recovers. The rise in active addresses may be an early indicator that greater movement is on the horizon.

After a small gathering, prices get stronger – turn to a $3 breakout

The XRP is trading for $2.41 after a few days of sharp swings between support and resistance. The tokens surged more than 33% at $1.89 from their recent lows, showing strong bullish momentum despite overall market uncertainty. This rebound has placed XRP among the top-performing assets in the crypto space, attracting new attention from traders and analysts.

The $2.30 level now exists as the main short-term support zone. If XRP is held above this level, the Bulls could push towards the psychological $3 mark. A clean breakout of over $3 can open the door for gatherings heading towards a range high and potentially new, top highs, depending on the sentiment of the wider market.

However, if XRP can’t maintain support at $2.30, then it’s possible to pull back to a low demand zone of $2.00, or even at a level of $1.89. This slows the pace of recovery and increases sales pressure in the short term.

Related readings

For now, XRP’s price structure remains bullish, but maintaining momentum will depend on exceeding critical levels as the broader market stabilizes. All eyes are in the next move.

Dall-E special images, TradingView chart

The number of active stablecoin wallets has surged by over 50% in the past year, reflecting growing adoption and engagement within the digital asset ecosystem, according to a joint report by onchain analytics platforms Artemis and Dune.

Titled “The State of Stablecoins 2025: Supply, Adoption & Market Trends,” the report reveals that active stablecoin addresses increased from 19.6 million in February 2024 to 30 million in February 2025, marking a 53% year-on-year growth.

Analysts suggest that this rise indicates a broader shift toward stablecoins as a key bridge between traditional finance and crypto.

Institutional and DeFi Adoption Drives Growth

The report attributes the increase in active stablecoin wallets to growing institutional adoption, expanding use in payments, and rising integration in decentralized finance (DeFi).

These factors have made stablecoins a fundamental component of the digital economy, offering liquidity, stability, and accessibility to users worldwide.

Beyond active addresses, the total stablecoin supply has also surged. In February 2024, the total supply stood at $138 billion, but by February 2025, it had climbed to $225 billion, reflecting a 63% year-on-year increase.

Given that stablecoins are pegged to fiat currencies, their market capitalization mirrors their total supply, reinforcing their increasing role in financial transactions.

Stablecoin usage has expanded not only in supply but also in transaction volume.

The report highlights that monthly transfer volume grew from $1.9 trillion in February 2024 to $4.1 trillion in February 2025, representing a 115% annual increase.

The peak occurred in December 2024, when stablecoin transaction volume hit $5.1 trillion, before experiencing a slight decline in early 2025.

Over the past year, stablecoins facilitated a total of $35 trillion in transfers, underscoring their critical role in digital finance.

While most metrics saw significant increases, average transfer size remained relatively stable, rising slightly from $676,000 in 2024 to $683,000 in 2025.

However, notable spikes occurred in May ($2.6 million) and July ($2.2 million), suggesting periods of heightened whale or institutional activity.

Analysts at Artemis and Dune believe these fluctuations highlight the dual use of stablecoins in both retail transactions and large-scale institutional movements.

Stablecoins Play an Important Role in Financial Ecosystem

Last month, Federal Reserve Governor Christopher Waller weighed in on stablecoins, arguing that U.S. dollar-pegged digital assets could strengthen the dollar’s global dominance.

Waller claimed that stablecoins already play an important role in the financial ecosystem.

They provide a stable store of value for crypto traders, facilitate access to US dollars in high-inflation economies, enable faster cross-border payments, and have shown early but promising use cases in retail transactions.

Prior to that, while speaking at the Atlantic Council, Waller referred to stablecoins as “synthetic dollars”, comparing them to commercial bank money and highlighting their ability to open up new payment possibilities.

He noted that if stablecoins can foster competition, broaden financial inclusion, reduce transaction costs, and make payments faster and more efficient, then they should be embraced.

More recently, Federal Reserve Chair Jerome Powell affirmed the central bank’s support for developing a regulatory framework around stablecoins during a Senate hearing.

The post Active Stablecoin Wallets Surge Over 50% in One Year: Report appeared first on Cryptonews.

For years, Vanguard was at the leading edge of the mutual fund industry, with a heavy focus on index mutual funds, though it also offered a large selection of actively managed funds.

When exchange-traded funds (ETFs) were introduced, Vanguard quickly started to offer index-focused ETFs, which makes complete sense. However, there are often overlapping offerings in the company’s mix.

One of the most interesting is in the dividend growth camp, with the Vanguard Dividend Appreciation Index ETF (VIG 0.93%) clearly overlapping with the niche of the Vanguard Dividend Growth Fund (VDIGX 0.86%). Which is better?

The difference between an ETF and a mutual fund

Mutual funds are far older than exchange-traded funds. They are an easy way for individual investors to pool their money and hire professional money managers. This helps to keep the costs down for each individual investor and allows for material diversification in the portfolio that might not be possible otherwise.

Vanguard offers both index-based mutual funds and actively managed ones, where human beings make all of the day-to-day decisions.

Image source: Getty Images.

The one big caveat here is that a mutual fund can only be bought at the end of the trading day. This is because the net asset value (NAV) of the fund has to be calculated to determine the proper price.

It isn’t a difficult process, simply requiring that the value of the portfolio be divided by the number of shares outstanding. However, that can’t happen during the trading day because the values of each individual portfolio holding are constantly changing.

Exchange-traded funds address this problem in a unique way. Large shareholders of an ETF can be paid in kind by an ETF’s sponsor, effectively receiving all of the underlying stocks. That creates an arbitrage opportunity if the ETF’s price diverges too far from the value of the portfolio. And, thus, ETFs can trade all day and trade very close to their NAVs.

Although there are now actively managed ETFs, the core of the ETF world is index-based products where the portfolios don’t change randomly. In fact, most index ETFs have very strict rules around portfolio construction and maintenance. That makes it easier for the structure to work.

With that background, which is better? The answer is probably “It depends,” but a look at two Vanguard products with similar goals but very different managers provides some interesting food for thought.

Two dividend growth options at Vanguard

The Vanguard Dividend Appreciation Index ETF and Vanguard Dividend Growth Fund both seek to invest in stocks that increase their dividends over time. As the chart below highlights, over the long term, these two products have tracked fairly closely. But over the past year or so, performance has diverged a little bit, giving the ETF the edge.

VIG Total Return Level data by YCharts.

The Vanguard Dividend Appreciation Index ETF tracks the S&P U.S. Dividend Growers Index. To get into that index, a company must increase its dividend annually for a decade. From that list, it excludes the highest-yielding 25%, which is an effort to remove stocks that may be facing financial difficulties that would lead to a dividend cut.

The stocks are market-cap weighted, so the largest companies have the biggest impact on performance. That’s basically the entire screening process.

The Vanguard Dividend Growth Fund is far more eclectic, with active human managers overseeing its stock holdings. The overarching theme, according to Vanguard: “The fund focuses on high-quality companies that have both the ability and the commitment to grow their dividends over time.” After that, its management can do just about whatever it wants regarding which stocks to pick and what weighting to give each stock. This leads to a different portfolio compared to the Dividend Appreciation Index ETF.

For starters, the Vanguard Dividend Growth Fund holds just over 40 stocks versus the ETF’s 330 or so. But the ETF has a far more concentrated portfolio when you look at sector diversification, with technology accounting for around 25% of the portfolio. The mutual fund’s tech exposure is about 16%, while it has chosen to put more emphasis on healthcare stocks, which stand at nearly 20% of assets, representing its largest sector exposure. The ETF’s healthcare exposure is 14% or so, making it the third largest segment of the portfolio.

XLK Total Return Level data by YCharts.

The top three industry categories (tech, financials, and healthcare) make up just over 60% of the ETF’s portfolio. The top three sectors in Vanguard Dividend Growth Fund (healthcare, industrials, and tech) account for about half of its portfolio.

All of this may seem like mere nuance, but it is actually important, when you also consider that only five of the top 10 holdings in each of these investment vehicles are the same. The humans are clearly making very different decisions. That currently means a tilt away from the giant technology stocks that have driven the market higher and toward healthcare, which has not been performing nearly as well.

There’s no way to know exactly what those in charge of the actively managed mutual fund are thinking here, but it could be an attempt to lower risk or to shift toward a sector that they believe presents more value. Given the ETF’s index-based structure, it can’t make shifts like that.

And that’s the biggest selling point for the mutual fund, since the ETF can’t make changes to its portfolio at all until it rebalances it once a year. It always has to track the index, while the actively managed mutual fund can adjust on the fly to changing market conditions.

If the next bear market is driven by a technology free fall, the human touch will become pretty handy. There are two reasons for this, as the mutual fund is not only choosing to be less exposed to technology, but it is also cherry-picking tech stocks in a way that the ETF can’t. For example, if three technology stocks pass the ETF’s screening process, it has to buy them all. The mutual fund can select the one that it believes has the best risk/reward balance.

XLK Total Return Level data by YCharts.

There is no clear-cut winner

Index funds have proved to be very successful relative to actively managed funds over long periods of time. However, the similarity in the performance of the Vanguard Dividend Appreciation Index ETF and the Vanguard Dividend Growth Fund up until the last few years suggests that indexes aren’t the be-all and end-all for every investment approach.

And while the last few years have leaned in the ETF’s favor, the mutual fund is clearly making a choice to limit its exposure to the very sector that is driving the ETF higher.

You’ll pay more for the human touch: The mutual fund’s expense ratio is 0.29% versus an expense ratio of 0.05% for the ETF. But that cost may be worth the price if you appreciate the value of letting your managers adjust to market conditions as they crop up. Even if that can leave them out of step with the market over the short term.