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On-chain data shows over half of the Ethereum supply is held by just 10 addresses. Here’s how other ETH-based tokens like Shiba Inu stack up.

Shiba Inu, Uniswap, & Ethereum Are Among The Most Centralized ETH Tokens

In a new post on X, on-chain analytics firm Santiment has talked about how the different assets in the Ethereum ecosystem line up against each other in terms of the amount of supply that’s concentrated on the top 10 wallets.

Below is the chart shared by Santiment that shows the trend in this metric for eight cryptocurrencies over the past few months.

Looks like SHIB is at the top of the list at the moment | Source: Santiment on X

From the graph, it’s visible that 51% of the Ethereum supply is owned by the 10 largest wallets on the network. This is more than most of the other ETH-based tokens on the list.

The two coins that are ahead in this metric are Shiba Inu (SHIB) and Uniswap (UNI). The latter is only marginally ahead of ETH with a value of 52.2%, but the former is significantly ahead at 62.3%.

Generally, a cryptocurrency’s supply being heavily concentrated on just a few hands doesn’t tend to be a constructive signal, as it means only a few players are needed to move the market.

Beyond market dynamics, supply centralization has another drawback: it potentially weakens the network security. Chains like Ethereum’s run on a consensus mechanism called the Proof-of-Stake (PoS). Under this system, validators called stakers have to lock up a stake in order to receive a chance at adding the next block to the chain.

The higher is a validator’s stake, the higher is the chance that they get picked. If a single staker crosses the 51% supply threshold, they can, in theory, gain total control over the blockchain.

This type of attack doesn’t exist on Bitcoin, where the Proof-of-Work (PoW) consensus mechanism is employed instead. In PoW networks, miners compete against each other using computing power. Here, too, however, if a validator gains control over 51% of the network computing resources, they can mold BTC to their will.

Considering that Ethereum has just 10 holders controlling 51% of the supply, an attack on the network is possible if these entities come together. The chances of it happening, though, are quite slim.

Still, the fact the likes of ETH, SHIB, and UNI are notably centralized on just a few holders could be something to watch for. In contrast, some other tokens in the ecosystem like USDC (28.6%), DAI (31%), and Chainlink (31.5%) are in a healthier zone in terms of this metric.

ETH Price

Ethereum has seen a surge of almost 4% over the last 24 hours that has taken its price to the $4,380 mark.

The price of the coin seems to have shot up over the past day | Source: ETHUSDT on TradingView

Featured image from Dall-E, Santiment.net, chart from TradingView.com

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Qubic, a project led by former IOTA co-founder Sergey Ivancheglo, says it has secured more than 51% of Monero’s global hashrate, a milestone that, if true, gives it the ability to reorganize blocks, censor transactions, and attempt double-spends on the privacy-focused blockchain.

Ivancheglo framed the move as a stress test to help the Monero community prepare for future network threats, but the announcement has triggered sharp debate among developers and security experts.

A 51% attack occurs when a single entity or coordinated group controls a majority of a proof-of-work network’s hashrate. Ethereum Classic suffered multiple reorganizations in 2020, resulting in millions of dollars in losses, while Bitcoin Gold faced similar assaults in 2018 and 2020.

Smaller networks like Verge have also been targeted, demonstrating how concentrated hashing power can destabilize and entire cryptocurrency network.

Monero, which uses the CPU-friendly RandomX algorithm, has long prided itself on resisting ASIC centralization. Qubic’s “useful proof-of-work” (uPoW) model repurposes Monero mining rewards by converting XMR into USDT, then using the proceeds to buy and burn QUBIC tokens, a deflationary mechanism that doubles as a liquidity sink for its own ecosystem.

From mid-May to late July, Qubic’s share of the network jumped from less than 2% to over 25%, at times topping pool rankings.

Ledger CTO Charles Guillemet warned on X that Monero “appears to be in the midst of a successful 51% attack,” citing signs of a major chain reorganization, with several other industry experts like SlowMist founder Yu Xian expressing their doubt over Qubic’s economics.

Whether the events mark a hostile takeover or simply a stress test, XMR has responded negatively, dropping by 6.65% in the past 24 hours to compound a 16% decline over the past week.

Read more: How $330M BTC Hacker May Have Doubled Down on Monero Derivatives

REX Osprey Solana (SOL) exchange-traded fund (ETF) recorded zero trading activity on four of six trading days through August 8, according to Farside Investors data. 

Trading under ticker SSK, the fund posted no flows on Aug. 1, Aug. 4, Aug. 5, and Aug. 7, with minimal $6.4 million in activity on Aug. 8 and $2.7 million outflows on Aug. 6.

REX Osprey’s fund is the first US-listed Solana ETF to integrate native staking mechanisms. The product operates outside standard SEC-registered spot ETF frameworks, delivering SOL exposure through indirect vehicles rather than direct crypto holdings.

Institutional hesitation

CoinShares flow data showed Solana products attracted $874 million in year-to-date inflows, staying behind Ethereum (ETH) and XRP among major cap altcoins despite its position as the fourth-largest cryptocurrency by market capitalization.

The trading pattern could reflect broader institutional hesitation toward Solana-focused investment products compared to Bitcoin (BTC) and Ethereum alternatives. 

Nansen senior research analyst Jake Kennis attributed the disparity to institutional portfolio allocation strategies. He explained in a note:

“ETH is seeing a lot of new activity as institutions were likely underweight ETH relative to BTC. Solana has been mostly in the backseat for this new wave of attention, but SOL ETFs would likely pick up if institutions are looking to also diversify away from BTC and ETH.”

Structural complexity creates adoption barriers

The REX Osprey fund’s design incorporates staking mechanisms and offshore ETF allocations that differentiate it from traditional spot cryptocurrency products. 

Stabolut founder and CEO Eneko Knörr identified these features as adoption obstacles rather than demand deficiencies. 

Knörr said:

“SSK’s quiet tape looks more like a brand and distribution issue than a pure demand problem. Its design isn’t a simple ‘spot SOL in a wrapper’—the fund stakes SOL and can allocate a portion into other SOL ETFs/ETPs, many offshore, which adds complexity that some buyers shy away from.”

The fund charges a 0.75% management fee, positioning it at the higher end of cryptocurrency ETF expense ratios. Traditional spot Bitcoin and Ethereum ETFs from major issuers typically carry fees between 0.15% and 0.25%.

Kennis, from Nansen, noted that the fee structure creates a cost-benefit analysis for institutional investors weighing direct cryptocurrency exposure against ETF convenience. 

He referenced Solana’s approximately 7% annual staking rewards:

“The staking component seems like a major feature given the ‘passive’ yield being left on the table.”

Market positioning and future outlook

The absence of major financial institutions like BlackRock and Fidelity in the Solana ETF space contributes to limited market penetration. 

REX Shares operates as a smaller ETF issuer without the distribution networks and brand recognition of Wall Street’s largest asset managers.

Knörr argued:

“Early trading will likely remain lumpy until bigger brands enter the space. Structure, complexity, and limited shelf space are holding it back—interest in Solana exposure itself doesn’t appear to be the issue.”

As of Aug. 11, the US Securities and Exchange Commission (SEC) is still considering the approval of Solana ETFs under the more tax-friendly 1933 Act.

Mentioned in this article

Bitcoin’s USD spot market posted a coordinated 3.65% gain over the past 24 hours, with trading activity dominated by Coinbase and price moves unfolding in lockstep across the major USD venues.

The session analyzed by CryptoSlate, on Aug. 11, 09:40 CEST, provides a clear look at where USD liquidity sits and how it shapes the flow of the market.

Coinbase, Kraken, Bitstamp, and Binance’s BTCUSD pair saw a combined $981.93 million in rolling 24-hour USD volume.

These four exchanges capture the core of Bitcoin’s USD spot market. Binance is the largest exchange globally in terms of total crypto volume, but most of its trading is in USDT and other stablecoin pairs, while Coinbase, Kraken, and Bitstamp handle the bulk of direct USD volume.

Including Binance’s BTCUSD pair alongside the three USD-heavy venues gives a fuller picture of price formation and liquidity in the dollar-denominated segment of the market.

Coinbase handled the bulk of this with $544.47 million, more than half the total. Kraken followed with $207.70 million, Bitstamp with $174.86 million, and Binance trailed with $54.90 million. This imbalance means the center of gravity for USD price discovery rests firmly with Coinbase.

Most large trades in this market will either pass through Coinbase directly or anchor their pricing to it. Kraken and Bitstamp add meaningful secondary depth, while Binance’s USD pair plays a minor role compared to its much larger USDT markets.

Prices across the four moved together, showing a strong, consistent upward push. Coinbase ended the period at $121,782.48, up 3.53%. Kraken closed at $121,762.00, up 3.49%, Bitstamp at $121,763.00, up 3.50%, and Binance at $121,598.17, up 4.10%.

The equal-weighted average price across the venues climbed from $117,435.57 to $121,726.41. Daily ranges were wide but orderly: Binance led with a $5,388.18 swing (4.62%), while Bitstamp and Coinbase both moved about $4,679 (3.98%), and Kraken’s range was $4,571.70 (3.89%).

The spark for the day’s rally hit at 04:00 CEST, when all four venues recorded their largest five-minute session gains. Prices at that moment were separated by just $113.62 from top to bottom, a sign of how closely aligned the books were when the move began.

The synchronized nature of the spike tells us that a broad catalyst affected prices, rather than a single exchange leading and the rest following.

Even in a clean uptrend, the differences between venues matter. The median spread between the highest and lowest quotes in the sample was $678.40, with a 95th percentile of $917.04. Binance’s median deviation from the average price was 42 basis points, far greater than Kraken’s 11.6 bps or Bitstamp’s and Coinbase’s ~14 bps.

That gap is more than a quirk of the data; it affects execution costs. Traders routing across all venues without price filters risk paying hundreds of dollars more per Bitcoin than necessary if they hit the wrong side of a broader market.

These liquidity patterns have knock-on effects. With so much USD flow running through Coinbase, its order book naturally acts as a reference point. Price moves there tend to ripple outward, influencing quotes on other venues, especially those that rely on aggregated feeds.

Kraken and Bitstamp, with their tighter alignment to Coinbase, reinforce the core USD price. Binance’s wider deviation in its USD pair means it sometimes moves to its own rhythm, which could be linked to internal order flow or spillover from its larger USDT markets.

Realized volatility over the 24 hours averaged 1.66% across venues. Coinbase saw the highest at 1.71%, followed by Bitstamp at 1.70%, Binance at 1.66%, and Kraken at 1.58%. The volatility figures fit the price ranges: steady upward motion rather than chaotic swings. That environment benefits traders looking to work large orders over time, but the venue-by-venue pricing differences remain a key factor in minimizing costs.

The day’s low across the sample was $116,749.76, and the high was $122,308.00, framing the session’s battlefield. The rise from bottom to top was steady and broad-based, the kind of move where spot and derivatives markets tend to reinforce each other.

The lack of sharp retracements suggests the buying was persistent enough to absorb profit-taking along the way.

Looking at this distribution, the state of the USD Bitcoin market is clear: one dominant venue sets the pace, while others help anchor the price. This means execution quality depends on knowing where the real liquidity is and which books stay closest to the market’s core.

A run like this, with a clean 24-hour rally and relatively tight clustering between large exchanges, shows efficient price discovery in action.

If these patterns hold, Coinbase’s role as the USD price hub will not be challenged soon. Kraken and Bitstamp will remain important for diversification and redundancy in pricing.

The post Coinbase held the majority of USD trading volume as BTC spiked to $122k appeared first on CryptoSlate.

Over half of the 25 largest US banks are now weighing or rolling out crypto-related products.

An Aug. 8 status chart shared by River that tracks the giants across two lanes, custody and trading. 

The snapshot shows multiple firms moving from “not yet” to “exploring,” “announced,” or restricted access for high-net-worth clients, indicating that digital asset offerings are steadily entering mainstream wealth and capital-markets pipelines.

Concrete moves since early 2024 help explain the shift. Morgan Stanley considered letting its 15,000 brokers recommend spot Bitcoin exchange-traded funds (ETFs) to clients, working on guardrails for suitability and allocations, a sign of expanding distribution beyond unsolicited orders. 

More recently, Charles Schwab’s chief executive said that the brokerage plans to add Bitcoin and Ethereum trading for customers, citing strong demand to view all holdings on a single platform. 

PNC went further on the banking side, selecting Coinbase so that wealth and asset management customers can trade crypto directly through their PNC accounts rather than a separate venue. 

Custody and tokenization are advancing in parallel. State Street signaled plans to launch a stablecoin and tokenized deposits to improve settlement, followed by efforts to tokenize bonds and money market shares.

BNY Mellon has been surfacing repeatedly in filings and product builds, including administrator and cash-custodian roles in ETF documents. Additionally, the bank appeared as custodian for reserves tied to Ripple’s RLUSD stablecoin more recently. 

Citi has explored Solana for next-generation financial services and tokenization pilots, and reportedly considered custody services in early 2025.

JPMorgan is on a spree of crypto-related projects in 2025. In June, the bank initiated a pilot project for a tokenized deposit token issued on Base, intending to facilitate instant dollar transfers.

Furthermore, the bank’s CEO Jamie Dimon revealed they will test stablecoin services along with the tokenized deposit token pilot. Notably, Dimon did not take back his criticism of crypto.

Last week, JPMorgan allowed its customers to access Coinbase to make direct crypto purchases without leaving their dashboard.

Taken together, these developments align with River’s chart, indicating that many top banks are not opening the floodgates. Still, they are preparing channels, such as ETF access, restricted trading for wealth clients, third-party integrations, custody mandates, and tokenization pilots. 

Access remains uneven and often limited to high-net-worth or advisory clients, yet the direction of travel is clear. 

The largest US banks are shifting their focus from monitoring crypto to operational planning and selective rollouts, with recent initiatives serving as proof points that a broader product set is coming into focus.

Mentioned in this article

Insurance company Allianz Life has confirmed that the personal information for the “majority” of its 1.4 million customers was exposed in a data breach that occurred earlier this month.

“On July 16, 2025, a malicious threat actor gained access to a third-party, cloud-based CRM system used by Allianz Life Insurance Company of North America (Allianz Life),” an Allianz Life spokesperson told BleepingComputer.

“The threat actor was able to obtain personally identifiable data related to the majority of Allianz Life’s customers, financial professionals, and select Allianz Life employees, using a social engineering technique.”

“We took immediate action to contain and mitigate the issue and notified the FBI. Based on our investigation to-date, there is no evidence the Allianz Life network or other company systems were accessed, including our policy administration system.”

“Our investigation is ongoing and we began the process of reaching out to individuals impacted with dedicated resources to assist them. This incident is related only to Allianz Life, which currently has 1.4 million customers.”

Allianz Life is a US-based provider of annuities and life insurance for over 1.4 million Americans. The company is owned by Allianz SE, a global financial services group headquartered in Germany, serving more than 128 million customers.

The company first revealed the breach in a mandatory filing with Maine’s Attorney General’s Office on Saturday, issuing a placeholder notification alerting of the breach.

“The consumer notice will be provided once Allianz has identified the affected individuals,” reads the placeholder notification.

While Allianz Life declined to answer questions about the threat actor and whether they were being extorted, BleepingComputer has learned that the attack is believed to have been conducted by the ShinyHunters extortion group.

ShinyHunters is a group of threat actors who are linked to multiple high-profile data breaches and attacks, including those against PowerSchool and the SnowFlake attacks, which impacted Santander, Ticketmaster, AT&T, Advance Auto Parts, Neiman Marcus, and Cylance.

While multiple ShinyHunters members have been arrested over the past few years, including a recent arrest in France, the hacking group continues to conduct attacks.

Last month, Mandiant warned that ShinyHunters had begun to target Salesforce CRM customers in social engineering attacks.

During these attacks, the hackers impersonate IT support personnel, requesting the targeted employee accept a connection to Salesforce Data Loader, a client application that allows users to import, export, update, or delete data within Salesforce environments.

Once the connection is accepted, the threat actors use Salesforce Data Loader to exfiltrate data from Salesforce, which is then used to extort the company.

BleepingComputer asked Allianz Life if the CRM is Salesforce, but the spokesperson declined to comment.

The crypto analytics firm Glassnode says most Bitcoin (BTC) holders are now seeing substantial gains in their investments.

In a new report, Glassnode says that “a super-majority of Bitcoin investors” are currently holding unrealized profits following the flagship cryptocurrency’s recovery to $107,000.

Holders now have an average paper gain of 125%.

“After finding firm support at the Short-Term Holder cost basis of $98,300, a level that often delineates local bull and bear regimes, Bitcoin rebounded to $107,000. This move pushed the majority of investors back into profit, with total unrealized gains reaching a staggering $1.2 trillion.”

The dominant market behavior suggests that investors are unlikely to cash out their gains. The report says the current price level appears less attractive for profit-taking than when Bitcoin breached the three-digit mark.

“Despite this surge in profitability, investor behavior signals a strong preference for HODLing, as the current price range appears insufficient to trigger significant profit-taking. This is reflected in declining realized profits, a continued downtrend in Liveliness, and Long-Term Holder supply climbing to a new all-time high.”

Bitcoin’s market capitalization, which takes into account the digital asset’s circulating supply at the current market price, currently sits at $2.13 trillion. BTC’s realized cap, which values each coin at the last transacted price, is pegged at $958 billion.

The flagship crypto asset is trading for $108,834 at time of writing, up by 2.97% over the past 24 hours.

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