XRP’s large holder cohort, specifically addresses holding between 10 million and 100 million XRP, has shifted from accumulation in the second half of August to significant dumping at the start of September. 

On-chain data from analytics platform Santiment reveals a sharp reversal in holdings, both in terms of circulating supply percentage and the number of coins held by this cohort. This change raises concerns about the sustainability of XRP’s price, which has been facing rejections above $2.8, and whether September could be a bearish month for the token.

XRP Millionaires Start September With A Selloff

XRP millionaire wallets, which are addresses holding between 10 million and 100 million XRP coins, aggressively increased their holdings during the second half of August. Based on the current price of XRP, each of these addresses is sitting on $28 million and $280 million worth of XRP, depending on the size of their wallets.

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Particularly, Santiment’s data shows that the percentage of XRP supply held by these addresses rose from 11.67% on August 16 to 12.19% by the end of the month. In terms of numbers, their stash grew from about 7.5 billion XRP coins to 7.85 billion XRP. This surge in accumulation showed the confidence among large investors, which contributed to XRP successfully holding above the $3 price level throughout the month.

However, September has opened with an abrupt reversal. On September 1, whale holdings accounted for 12.19% of the circulating supply, but by September 3, that figure had dropped to 11.77%. In coin terms, the balance fell from 7.85 billion XRP to 7.61 billion XRP, wiping out much of the late August accumulation in just a few days.

This decline is clearly illustrated in Santiment’s chart below, which shows a synchronized dip in both percentage supply and absolute holdings. This rapid offloading means that these millionaire wallets may be taking profits after August’s rally, and it introduces downside pressure that could have effects on XRP’s price action throughout September.

Could This Mean A Red September For XRP?

September has been a mixed month for XRP, with both strong rallies and painful corrections shaping investor sentiment. According to data from CryptoRank, the last time XRP saw a red September was back in 2021, when it fell sharply by 20.1%. Since then, however, XRP has managed to string together three consecutive green Septembers, including a 46.2% increase in September 2022.

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This track record shows that while September has the potential to bring losses, it has also been highlighted by gains. Although it is too early to declare a repeat scenario of a red September, the sell-off from millionaires at the beginning of September sets a worrying precedent.

XRP’s price action is already showing signs of strain, with the token repeatedly facing rejections above $2.8 in recent days. If these millionaire wallets continue to offload their holdings, the bullish sentiment surrounding XRP may weaken, which may lead to further declines.

At the time of writing, XRP is trading at $2.82, up by 0.2% in the past 24 hours.

Featured image from Adobe Stock, chart from Tradingview.com

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Legal expert Bill Morgan has commented on accusations that Ripple would dump its XRP escrow holdings at some point. He explained why that won’t happen and noted how the escrow strategy is good for the altcoin’s price. 

Ripple’s Escrow Will Buttress XRP Price Not Deflate It

In an X post, Bill Morgan noted that even the SEC recognized that Ripple’s escrow was intended to buttress the XRP price and not deflate it. He added that even the Commission considered this to be one of the factors that would give investors an expectation of profit from the crypto firm’s efforts. 

The legal then remarked that this is just one of the points that clearly debunks the ‘dump theory’ around Ripple’s escrow. His response was in reply to a crypto community member who criticized XRP holders who think that the escrow is good for their holdings. He then indicated that the crypto firm would at some point dump its holdings on these investors. 

Meanwhile, Bill Morgan had earlier noted how there hasn’t been a stark difference between Ripple’s escrowed funds in 2017 and now. He revealed that the crypto firm had 55 billion XRP in escrow in late 2017 while it now has 35 billion in escrow. Ripple unlocks 1 billion XRP monthly. As such, these escrowed funds should have reduced drastically since 2017. 

However, Ripple typically relocks a significant portion of these coins following the monthly unlocks, which explains why the crypto firm’s holdings haven’t flooded the market. Notably, the firm uses these coins for its on-demand liquidity (ODL) services. As such, the coins that are left unlocked are in demand, which also provides a boost for the XRP price. Ripple is also looking to expand its operations, which could further boost the altcoin’s adoption. 

Reason For the Escrow ‘Dump Theory’

In response to the accusations against Ripple, Bill Morgan suggested that many of these crypto community members have been simply sidelined on the recent XRP price rally. As such, he believes this is why they are trying to spread Fear, Uncertainty, and Doubt (FUD). In an X post, he asked a particular critic if they missed out on XRP when it was still trading at $0.20.

Indeed, the XRP price had traded around this level in 2023 and remained stuck in the $0.50 range for most of 2024 before finally taking off in the last quarter of the year, recording a rally of over 500%. The altcoin has continued this run this year and last week rallied to a new all-time high (ATH) of $3.65. 

At the time of writing, the XRP price is trading at around $3.50, up in the last 24 hours, according to data from CoinMarketCap.

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X’s Grok chatbot declined to select a winner for a $1,000 Ethereum giveaway organized by crypto influencer Crypto Rover, citing prior allegations of pump-and-dump activity detailed by on-chain investigator ZachXBT.

In replies to users participating in the weekend contest, Grok stated it was abstaining from choosing a winner due to “substantiated reports” implicating Rover in schemes that could compromise community safety.

The messages are now unavailable but circulated in screenshots showing Grok referencing ZachXBT’s findings and calling for caution. The interaction stemmed from a routine promotional giveaway in which Rover, who posts under @rovercrc and has over 1 million followers, invited users to like, repost, and follow his account for a chance to win the prize.

As ZachXBT reported, the allegations center on a project Rover was contracted to promote in May 2023. The deal included a $10,000 payment, a percentage of the project’s token supply.

According to the investigation, Rover made no promotional posts as agreed and later claimed he would delay content until “better market conditions,” while threatening legal action against the project’s team for attempting to call him out.

ZachXBT linked Rover’s wallet activity to subsequent token sales, generating roughly 40 ETH in profits. The funds were routed to a known Bybit deposit address previously associated with Rover.

The probe also identified 10 fresh wallets tied to the same promotional period that accumulated 9 percent of the token’s supply shortly before Rover posted about the asset. The project team behind the meme coin ceased communications shortly after, with no further updates beyond May 2023. In previous posts, Rover reportedly stated he could “pump projects from half a million to ten million easy,” a remark ZachXBT highlighted as part of a broader pattern of manipulative behavior.

Rover did not publicly address Grok’s specific decision and has continued to tag Grok for his next giveaway.

Not all of Grok’s responses refused to engage with Crypto Rover. Many replies to Crypto Rover and his followers affirmed that the bot would select a winner for the giveaway. However, per the latest posts, none was chosen by the bot.

Grok, developed by xAI, has previously drawn scrutiny for its erratic output, including unverified claims and inflammatory responses, though its creators position it as a “maximally truth-seeking” assistant.

ZachXBT’s forensic investigations have become a fixture in crypto accountability circles, with previous work cited in law enforcement actions and asset recoveries totaling over US $210 million, per a 2024 Wired profile.

Mentioned in this article

A rumor is rapidly spreading among crypto investors that the US government may have quietly sold off nearly 170,000 BTC, leaving a fraction of its assumed holdings intact. The speculation began after the US Marshals Service, in response to a FOIA request, revealed that it currently holds only 28,988 BTC valued at approximately $3.4 billion. 

Many crypto investors took this disclosure to mean that the federal government’s total Bitcoin reserves had declined from the long-assumed figure of around 200,000 BTC. The claim was amplified across the social media platform X, where even some public figures reacted to what appears to be a massive strategic sell-off by the US government.

FOIA Request Misinterpreted

The confusion of the US government selling the majority of its Bitcoin holdings appears to stem from misinterpretations of the specific holdings of the US Marshals Service with those of the entire federal government. The FOIA request that sparked the debate was submitted by journalist L0la L33tz, and it accurately reflects that the Marshals control just under 29,000 BTC. However, this only accounts for the Bitcoin under the custody of that particular agency.

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On-chain data from blockchain analytics firm Arkham Intelligence provides a very different picture. According to Arkham, the US government as a whole still holds approximately 198,000 BTC, worth over $23.46 billion at the current price of Bitcoin. These coins are distributed across various federal agencies and are not limited to the Marshals’ holdings. Nevertheless, the misrepresentation took hold quickly. 

Even US Senator Cynthia Lummis, who is a well-known advocate of Bitcoin, responded to the rumor, saying, “I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves, leaving just ~29,000 coins. If true, this is a total strategic blunder and sets the United States back years in the bitcoin race.”

What If the US Quietly Sold 170,000 BTC?

The repercussions on the broader crypto market would be immense if the US government had indeed sold off 170,000 BTC in secret. A sale of that scale would unleash massive selling pressure and cause a strong drop in the price of Bitcoin. This would erode confidence among investors in the wider crypto market and set off a chain reaction of liquidations across other cryptocurrencies. Such a move would not only cause technical breakdowns in price structure but also cancel out the possibility of governments around the world holding crypto as a form of strategic reserve.

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Moreover, such a dump would directly contradict the federal policy direction set earlier this year. In March, President Donald Trump signed an executive order instructing all federal agencies to transfer their Bitcoin and digital asset holdings to the US Treasury. The order formalized the creation of a Bitcoin reserve, which was meant to recognize the cryptocurrency as a national asset. In light of that policy, the notion that the US would quietly sell off the majority of its Bitcoin holdings seems highly improbable under the current Trump administration.

At the time of writing, Bitcoin is trading at $118,360.

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The appetite for Bitcoin is palpable, at least in the corporate treasury halls. More companies are joining the bandwagon. proof of the crypto’s appeal and status as a safe haven asset.

In early July, corporate Bitcoin buys surged as 54 companies revealed new treasury plans or purchases. Altogether, more than 8,400 BTC—roughly $500 million at current prices—flowed into company coffers.

Both nimble startups and established names joined the rush, underlining a rapid shift toward digital assets in corporate finance.

Major Deals Shake Up The Market

Figma surprised investors by filing an S‑1 that showed nearly $70 million Bitcoin acquisition—about 843 BTC. Cel AI and Opyl Limited each made their first entries, while Hyper Bit added more to its holdings.

Meanwhile, a dozen businesses, including two gold‑sector companies, outlined future crypto allocations. Amber International raised nearly $26 million via private placement for its BTC strategy, and a consortium eyeing a DV8 takeover plans to weave Bitcoin into its new treasury framework.

Week 27 – #Bitcoin Treasury Strategy Updates

June 30-July 4 saw 54 announcements – 8.4k BTC!

– 4 new treasuries, Figma with ~843 BTC as nice surprise
– 12 future treasuries announcements, including 2 Gold-related companies
– 18 companies added bitcoin, totaling… pic.twitter.com/2qiOfROS2C

— NLNico (@btcNLNico) July 5, 2025

Steady Purchases And Bold Plans

Some 18 firms actually added coins, contributing 7,591 BTC. Blue Star Capital arranged a $1.7 million fundraise to gain indirect BTC exposure, and Metavesco launched its inaugural formal treasury program. Sweden’s Fragbite Group topped up with around $530,000 worth of BTC.

Hamak Gold (LSE: HAMA) launches a Bitcoin Treasury Management strategy, alongside gold exploration.
Dual asset focus: Gold + Bitcoin
LSE Main Market governance
Gulf investment backinghttps://t.co/gspz837gWT

— Hamak Gold (@GoldHamak) July 3, 2025

Gold mining company Hamak Gold reserved proceeds from its $3.4 million capital raising to use to buy BTC in the future. Across heavyweights and niche participants, the range of activity demonstrates diverse but increasing confidence to own crypto long term.

Companies Signal Continued Growth

Beyond immediate purchases, 14 companies signalled plans to keep growing their Bitcoin reserves. Food‑service operator DDC Enterprise stunned the market by securing almost $530 million in new financing, with part of the funds earmarked for BTC.

Publicly declaring these intentions helps firms reassure investors that crypto won’t be a fleeting experiment.

Additional announcements—from policy tweaks to internal guideline updates—brought the total to six more disclosures. That transparency can calm concerns over volatility, custody risks, and accounting treatment.

This wave of activity makes clear that crypto has moved well past niche appeal. While price swings remain a factor and custody logistics must be nailed down, more companies see Bitcoin as a practical store of value.

With startups and blue‑chip firms alike laying plans and making purchases, Bitcoin’s role in corporate treasuries looks set to deepen.

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Cryptocurrency analyst Benjamin Cowen is saying that Bitcoin (BTC) could be on the verge of a pullback after soaring to new all-time highs.

In a new strategy session, Cowen tells his 898,000 YouTube subscribers that Bitcoin is on the cusp of forming a golden cross pattern on the daily time frame.

A golden cross pattern occurs when a 50-day moving average crosses above the 200-day moving average. Cowen says that while the golden cross pattern is typically bullish, it has previously led to Bitcoin “dumps” in the past.

“My prior experiences with golden crosses influenced me to think that with a golden cross, you get a correction. We had a correction after the golden cross in 2019, we had one in 2020. We had also had one in 2021… …we also had one after a golden cross in 2015 and that was a much deeper correction.”

According to Cowen, Bitcoin could experience a correction of double-digit percentage points after the golden cross pattern forms.

“Looking at prior golden crosses… …just noticing that a lot of times you get a golden cross, you get about a 10 to 15% drop.”

The widely followed crypto analyst further says,

“So my prior experiences with golden crosses with Bitcoin in 2023 had always told me that you rally up by the time you get to the point where you get a golden cross price action has already done very very well, people tend to get euphoric, they start calling for crazier and crazier price predictions in the short term. And then what ends up happening is then Bitcoin gets a pullback. And it keeps those people in check. And it’s just sort of a way of the market… calming down for a little while.”

Bitcoin is trading at $110,911 at time of writing.

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US President Donald Trump hosted a highly publicized crypto dinner on May 22 for top holders of the TRUMP memecoin, attracting a mix of crypto elites and public figures from across the globe.

The exclusive event, first announced in April, was reserved for the top 220 TRUMP token holders. The 25 largest holders received VIP access, including a private reception with Trump before dinner.

According to data from CryptoRank, the attendees collectively held around $394 million worth of the TRUMP token before the event. Notably, 72% of guests came from outside the US, highlighting the memecoin’s global appeal.

Meanwhile, TRON founder Justin Sun topped the list of attendees with a $19 million stake in the TRUMP token, while the average guest held approximately $1.79 million in TRUMP. The median investment in the digital asset was about $348,000.

Who attended TRUMP’s dinner?

While Trump’s team did not publish an official guest list, social media posts and blockchain data helped confirm several attendees.

These included Justin Sun, Vincent Liu of Kronos Research, Synthetix founder Kain Warwick, Magic Eden CEO Jack Lu, and unnamed representatives of crypto projects like Biconomy, Sonic SVM, and SolCex.

Others who spotted or self-reported at the event were former NBA player Lamar Odom, who recently launched the ODOM token, MemeCore executives like Rudy Rong, and Russian-born crypto entrepreneur Nikita Anufriev.

The guests described the event as a rare convergence of global crypto players, many of whom flew in from Asia and Europe. Liu of Kronos said:

“Hearing President Trump affirm his support for crypto in person is both inspiring and deeply motivating.”

Meanwhile, photos shared on social media revealed a luxury dinner featuring halibut, filet mignon, and a signature organic salad named after Trump.

Notably, Sun said he received a Trump Tourbillon Watch at the dinner

TRUMP token dumps after dinner gala

While the dinner was intended to celebrate the eponymous token’s success, market sentiment quickly soured. Shortly after the event, the price of TRUMP dropped over 7% to $13.70, according to CryptoSlate’s data.

Blockchain sleuths revealed that nearly half the gala attendees no longer held TRUMP tokens in their wallets. In fact, 92 of the 220 eligible wallets had fully exited their positions before the event.

Additionally, the token balances among top holders declined from 11.3 million to 7 million post-dinner.

Moreover, the glitz of the event also attracted heat from demonstrators and US lawmakers alike, who criticized the event as a pay-to-play scheme.

Senator Chris Murphy called the gala “corrupt” and demanded that Trump release the official guest list if the dinner was legitimate.

He said:

“Trump’s meme coin is designed to facilitate corruption. You can pay Trump secretly, which gets you secret special access to the President. If Trump’s dinner with the top coin buyers was legit, he would release the list of attendees. But it’s corrupt. So the list stays hidden.”

Mentioned in this article

This upward movement has pushed the asset beyond the psychological threshold of $110,000, reinforcing optimism in its medium-term trajectory. However, analysts are monitoring underlying market data that may signal emerging risks beneath the surface of the rally.

Bitcoin Exchange Inflows and Leverage Ratios Reflect Growing Caution

CryptoQuant contributor Amr Taha recently published a detailed analysis highlighting key metrics from Binance, including net flows, open interest, and leverage levels. These metrics, when taken together, reveal a familiar setup reminiscent of December 2024, a period that preceded short-term corrections.

While Bitcoin’s price action has remained positive, the presence of high exchange inflows and speculative positioning could indicate that some investors are preparing for profit-taking. According to Taha, Binance has observed a notable increase in inflows, with approximately 3,000 BTC and 60,000 ETH entering the exchange as Bitcoin broke its all-time high.

This shift from net outflows to inflows suggests that investors may be transferring assets to trading platforms with the intent to sell or adjust their positions. Historically, large net inflows during price peaks have been linked to increased selling activity, particularly when market participants aim to secure gains after extended uptrends.

Taha also noted that open interest (OI) on Binance has climbed back above $12 billion levels last seen in December 2024. Open interest refers to the total value of outstanding futures contracts and is often viewed as an indicator of speculative engagement in the market.

While rising OI can support upward continuation during bullish phases, it may also increase the risk of volatility if not supported by fresh spot market demand. Compounding this, Binance’s estimated leverage ratio has returned to 0.20, mirroring previous highs and suggesting that many traders are utilizing significant leverage. Elevated leverage levels tend to heighten sensitivity to price fluctuations and can amplify liquidations during abrupt corrections.

Are Market Conditions Echoing December’s Setup?

Taha concluded his analysis, revealing that while none of these indicators are inherently bearish on their own, their simultaneous occurrence around a new all-time high could point toward short-term instability. In previous cycles, such combinations of high leverage, rising OI, and exchange inflows have been associated with increased profit-taking and localized pullbacks.

Taha wrote:

These are not inherently bearish signals in isolation. However, when combined, they historically correlate with profit-taking behavior and often precede volatility spikes or corrections. Traders and investors should remain alert: these same conditions marked the beginning of localized tops in late 2024, especially after periods of aggressive upside.

Featured image created with DALL-E, Chart from TradingView

Shortly after its long-awaited debut, WCT fell sharply from $0.40 to $0.27, largely driven by a selloff from early airdrop recipients.

WalletConnect, a staple protocol in the Web3 ecosystem, has distributed over 50 million tokens as part of its decentralization plan, with 18.5% of the supply earmarked for community incentives.

The initial sell pressure seemed expected. But what came next was less predictable: a sharp rally to $0.65, more than doubling its bottom price. WCT is trading around $0.47, which is still far above its early dip.

The comeback has been catalyzed by upcoming listings on South Korea’s largest exchanges, Upbit and Bithumb.

With WCT now featured on Binance, OKX, Bybit, Kraken, Gate.io, and Bitget; Upbit announcement added a powerful layer of market momentum.

South Korean retail traders are notorious for triggering rallies in newly listed tokens; WCT was no exception. In the 24 hours following Upbit’s listing confirmation, WCT jumped 36%, brushing a new all-time high of $0.58.

WCT Price Disparities and Exchange Frenzy

As WCT’s popularity soars, noticeable price gaps have formed between centralized exchanges.

On Binance, WCT has been trading at $0.62, significantly higher than the $0.539 observed on OKX.

This divergence is likely due to liquidity variations, arbitrage opportunities, and regional demand spikes, particularly with Korean listings underway.

With Upbit and Bithumb confirming spot listings of WCT/KRW on April 16, demand is expected to increase from South Korean traders who often drive intense short-term speculation.

These listings are part of WalletConnect’s calculated push to decentralize its ecosystem and expand token utility.

The WCT token officially became transferable on April 15, 2025, meeting all previously established criteria by the WalletConnect Foundation.

These included the launch of staking pools, onboarding node operators, the WalletConnect Certified Wallet program, and the recent open-sourcing of the core code.

Completing these technical and community-focused milestones laid the groundwork for WCT’s broader distribution and exchange integration.

Notably, the volatility has not deterred investor interest, with current data showing a rebound in trader optimism.

Gate.io joined the listing frenzy with a $10,000 WCT trading competition, while Kraken, Bybit, and Bitget announced listings almost simultaneously.

Controversies, Market Makers, and Transferability Questions

However, not all the excitement around WCT has been celebratory. Critics have raised concerns about the timing of the token’s listing and the vesting schedule for insiders.

Some accused WalletConnect of “playing the Starknet crime playbook,” referring to prior cases in which token insiders allegedly benefited from shorter-than-disclosed vesting periods.

According to critics, insiders in WalletConnect’s case will effectively have their allocation unlocked five months earlier than the traditional one-year timeline, potentially allowing them to dump tokens amid peak market hype.

Adding fuel to the fire, market sleuths on crypto Twitter have identified GSR.io as the suspected market maker behind WCT.

They cite suspicious trading patterns similar to those seen in past launches such as GALA, BIGTIME, and ARKM.

One on-chain analyst claimed it cost $16,000 in gas to verify GSR’s involvement by tracking wallet addresses and that roughly 2.8 million WCT tokens were linked to their operations.

Others began offering tutorials on identifying such patterns, suggesting that professional market makers often leave behind subtle clues.

Despite the criticism, WalletConnect’s transparency on some aspects of the project, particularly around transferability criteria, has won praise.

While market makers, listing spikes, and price gaps may dominate the short-term narrative, WCT’s real test will come in its ability to drive long-term value for users, developers, and stakeholders.

The post WCT Soars 100% After Airdrop Dump — Price Gap Widens Ahead of Korean Exchange Listings appeared first on Cryptonews.

The Ethereum price crash to $1,400 has shaken the crypto market, amplifying already volatile conditions. This dramatic price drop comes after a major ETH sell-off by US President Donald Trump’s World Liberty Finance, suggesting that the recent dump may have been a primary catalyst behind ETH’s price collapse.

Blockchain analytics platform Lookonchain revealed on April 9 via X (formerly Twitter) that the wallet associated with World Liberty Finance, a decentralized finance protocol linked to Trump, recently dumped a significant amount of Ethereum. Interestingly, this sell-off came just before Ethereum’s price crash, raising the question of whether it contributed to the unexpected decline.

Donald Trump‘s World Liberty Finance Dumps ETH

Launched in 2024, World Liberty Finance is Trump’s controversial digital asset firm designed to rival centralized banking and facilitate the adoption of stablecoins. According to data from Lookonchain, Trump’s World Liberty Finance, which was previously accumulating Ethereum at a low price, is now selling off a large chunk of its holding at a steep loss. 

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Lookonchain flagged the transaction, noting that the wallet linked to World Liberty Finance had offloaded 5,471 ETH tokens worth roughly $8.01 million. The sell-off was executed at a price of $1,465 per ETH, a significant drop from its previous value of over $1,600. 

Notably, World Liberty Finance’s ETH sell-off move has raised eyebrows across the crypto community. It appears to mark a shift in strategy for a player who was previously known for large-scale ETH accumulation. 

According to Lookonchain, the wallet address linked to World Liberty Finance had accumulated a total of 67,498 ETH at an average price of $3,259. This means that the decentralized finance protocol spent a total of $210 million to amass such a large amount of ETH. 

At its sell-off price, this leaves the entity sitting on a staggering unrealized loss of around $125 million. The recent sell-off also adds more fuel to the growing uncertainty surrounding Ethereum’s future outlook, as the cryptocurrency’s recent price crash has sparked even more bearish predictions of continued decline. 

Although the reason behind World Liberty Finance’s unexpected ETH sell-off remains unclear, some believe that the dump was likely triggered by Ethereum’s ongoing price decline, while others suggest it could signal a market bottom. 

Ethereum Price Crash To $1,400

Ethereum’s price decline to $1,400 came as a shock to the market, making it the first time the cryptocurrency had fallen so low in seven years. Notably, Ethereum was not the only leading cryptocurrency that was affected by the market turmoil, as big players like Bitcoin also suffered losses.

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Currently, Ethereum seems to be recovering slightly from its previous low and is now trading at $1,591 after jumping 7.44%. Although this recovery brings hope of a rebound, the cryptocurrency’s value has still dropped by 16.63% over the past month. Moreover, technical indicators from CoinCodex highlight that sentiment surrounding the cryptocurrency is still deeply bearish, suggesting that further declines could be on the horizon.

Featured image from Unsplash, chart from Tradingview.com