Institutional money, funds, and public companies continue to increase their BTC holdings and currently control 12.3% of all Bitcoin supply.

According to Bitcoin analytics platform Ecoinometrics, this figure has dramatically increased over the past 12 months. Institutional money added 5% to their combined holdings in the past year alone, helping propel Bitcoin’s price by over 80% in the last 12 months.

Entities such as ETFs, sovereign funds, and corporate treasuries now collectively hold billions of dollars worth of BTC, well over one million coins.

The rise of Bitcoin treasuries

The market’s structural transformation is captured by the rise in Bitcoin treasury companies like Strategy and Metaplanet. Strategy alone now holds over 638,400 BTC, more than 3% of the total circulating supply. At the same time, Japan’s Metaplanet has surpassed 20,000 BTC, rapidly climbing the ranks among corporate Bitcoin treasuries.

Their strategies revolve around aggressive accumulation of the Bitcoin supply, equity issuance policies tailored to buy more Bitcoin, and innovative balance sheet management to maximize exposure to BTC as a reserve asset.

Wall Street’s biggest names are also scrambling to accommodate the new wave. JPMorgan began accepting shares of Bitcoin ETFs as collateral for loans in June 2025 and partnered with Coinbase to let Chase credit card holders fund crypto purchases directly.

This continuing integration through lending, wealth management, and direct purchasing shows the level of normalization of Bitcoin in traditional finance, spelling deeper liquidity for the entire ecosystem.

And with $7.5 trillion parked in money market funds right now, just looking for a new home, institutional accumulation of the Bitcoin supply will likely go up and to the right.

Bitcoin supply shift from retail to institutions

Perhaps most striking, the concentration of Bitcoin supply is shifting away from early holders and retail investors toward funds and corporations.

Recent on-chain data reveals a dramatic change in address distribution and exchange outflows over the past two years, highlighting how large players are consolidating their share of the finite supply. As Strategy’s founder and chairman, Michael Saylor famously warned:

“The digital gold rush ends ~January 7, 2035. Get your Bitcoin before there is no Bitcoin left for you.”

The accelerating institutional adoption is tightening liquidity, making available Bitcoin increasingly scarce and supporting higher prices during each influx.

Innovative treasury strategies from firms like Strategy and Metaplanet are setting new standards, while banking giants like JPMorgan endorse the asset more actively than ever.

This ongoing consolidation could fundamentally change Bitcoin’s narrative, as Bitcoin supply shifts from retail hands to institutional wallets.

Institutional appetite is now among the most powerful forces shaping both short-term volatility and the long-term destiny of the world’s largest crypto coin.

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David Schwartz, chief technology officer at Ripple, has praised Xaman, a popular XRP wallet, for swiftly reacting to a large-scale supply chain attack on the Node Package Manager (NPM) ecosystem. 

A reputable developer’s NPM account was recently compromised, and widely JavaScript packages ended up being infected with malicious code. 

The malware specifically targets cryptocurrency wallets such as MetaMask in order to redirect the funds of uninitiated crypto users to the attackers by secretly swapping addresses. 

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As reported by U.Today, Ledger CTO Charles Guillemet has urged crypto users who do not have hardware wallets with clear signing to temporarily stop conducting on-chain transactions. 

Xaman’s reaction 

The team behind the Xaman wallet immediately conducted an audit, which showed that it was safe for users. 

XRPL Labs co-founder Wietse Wind Supply has noted that chain attacks are becoming “more and more common.”

A new cyberattack is silently targeting crypto from users during transactions amid an incident that security researchers describe as the largest supply chain attack in history.

BleepingComputer reported that hackers compromised NPM package maintainer accounts through phishing emails and injected malware that steals crypto.

The attack targeted JavaScript developers with fraudulent emails appearing to originate from “[email protected],” an impersonated domain mimicking the legitimate NPM registry.

The phishing messages warned maintainers that their accounts would be locked on Sept. 10, unless they updated their two-factor authentication credentials through a malicious link.

Attackers successfully compromised 18 widely-used JavaScript packages with collective weekly downloads exceeding 2.6 billion.

The compromised libraries include fundamental development tools such as “chalk” (300 million weekly downloads), “debug” (358 million), and “ansi-styles” (371 million), affecting virtually the entire JavaScript ecosystem.

Targeting crypto

The malicious code operates as a browser-based interceptor, monitoring network traffic for crypto transactions across Ethereum, Bitcoin, Solana, Tron, Litecoin, and Bitcoin Cash networks.

When users initiate crypto transfers, the malware silently replaces destination wallet addresses with attacker-controlled accounts before transaction signing.

Aikido Security researcher Charlie Eriksen explained:

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“What makes it dangerous is that it operates at multiple layers: altering content shown on websites, tampering with API calls, and manipulating what users’ apps believe they are signing.”

Ledger CTO Charles Guillemet warned crypto users about the ongoing threat, noting the JavaScript ecosystem may be compromised given the massive download figures.

Hardware wallet users retain protection if they verify transaction details before signing, while software wallet users face a higher risk. Guillemet advised:

“If you don’t use a hardware wallet, refrain from making any on-chain transactions for now.”

He also noted uncertainty about whether attackers can directly extract seed phrases from software wallets.

Sophisticated targeting

The attack represents a sophisticated supply chain targeting where criminals compromise trusted development infrastructure to reach end users.

By infiltrating packages downloaded billions of times weekly, attackers gained unprecedented access to cryptocurrency applications and wallet interfaces.

BleepingComputer identified the phishing infrastructure exfiltrating credentials to “websocket-api2.publicvm.com,” demonstrating the coordinated nature of the operation.

This incident follows similar JavaScript library compromises throughout 2025, including the July attack on “eslint-config-prettier,” which had 30 million weekly downloads, and March compromises affecting ten popular NPM libraries.

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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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Cloudflare is the latest company impacted in a recent string of Salesloft Drift breaches, part of a supply-chain attack disclosed last week.

The internet giant revealed on Tuesday that the attackers gained access to a Salesforce instance it uses for internal customer case management and customer support, which contained 104 Cloudflare API tokens.

Cloudflare was notified of the breach on August 23, and it alerted impacted customers of the incident on September 2. Before informing customers of the attack, it also rotated all 104 Cloudflare platform-issued tokens exfiltrated during the breach, even though it has yet to discover any suspicious activity linked to these tokens.

“Most of this information is customer contact information and basic support case data, but some customer support interactions may reveal information about a customer’s configuration and could contain sensitive information like access tokens,” Cloudflare said.

“Given that Salesforce support case data contains the contents of support tickets with Cloudflare, any information that a customer may have shared with Cloudflare in our support system—including logs, tokens or passwords—should be considered compromised, and we strongly urge you to rotate any credentials that you may have shared with us through this channel.”

The company’s investigation found that the threat actors stole only the text contained within the Salesforce case objects (including customer support tickets and their associated data, but no attachments) between August 12 and August 17, after an initial reconnaissance stage on August 9.

These exfiltrated case objects contained only text-based data, including:

• The subject line of the Salesforce case
• The body of the case (which may include keys, secrets, etc., if provided by the customer to Cloudflare)
• Customer contact information (for example, company name, requester’s email address and phone number, company domain name, and company country)

“We believe this incident was not an isolated event but that the threat actor intended to harvest credentials and customer information for future attacks,” Cloudflare added.

“Given that hundreds of organizations were affected through this Drift compromise, we suspect the threat actor will use this information to launch targeted attacks against customers across the affected organizations.”

Wave of Salesforce data breaches

Since the start of the year, the ShinyHunters extortion group has been targeting Salesforce customers in data theft attacks, using voice phishing (vishing) to trick employees into linking malicious OAuth apps with their company’s Salesforce instances. This tactic enabled the attackers to steal databases, which were later used to extort victims.

Since Google first wrote about these attacks in June, numerous data breaches have been linked to ShinyHunters’ social engineering tactics, including those targeting Google itself, Cisco, Qantas, Allianz Life, Farmers Insurance, Workday, Adidas, as well as LVMH subsidiaries Louis Vuitton, Dior, and Tiffany & Co.

While some security researchers have told BleepingComputer that the Salesloft supply chain attacks involve the same threat actors, Google has found no conclusive evidence linking them.

Palo Alto Networks also confirmed over the weekend that the threat actors behind the Salesloft Drift breaches stole some support data submitted by customers, including contact info and text comments.

The Palo Alto Networks incident was also limited to its Salesforce CRM and, as the company told BleepingComputer, it did not affect any of its products, systems, or services.

The cybersecurity company observed the attackers searching for secrets, including AWS access keys (AKIA), VPN and SSO login strings, Snowflake tokens, as well as generic keywords such as “secret,” “password,” or “key,” which could be used to breach more cloud platforms to steal data in other extortion attacks.

Ethereum (ETH) staking levels continue to break records, with the latest snapshot of the blockchain showing nearly 36.1 million ETH staked on the network – the highest level in history.

Ethereum Staking Hits New ATH, Will Price Follow?

According to a CryptoQuant Quicktake post by contributor XWIN Research Japan, close to one-third of Ethereum’s circulating supply is now staked. This high proportion suggests that ETH may be on the verge of a structural supply shock.

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The following chart shared by the analyst shows that even during sharp corrections in 2022 and 2023, staking levels continued to climb. Unlike speculative flows, which often exit the market during downturns, staking activity has proven “sticky” – with investors choosing to lock ETH into the network rather than liquidate.

Staking ETH carries several key implications. First, it compresses supply – as more ETH is staked, less liquid supply remains on exchanges, creating a natural “supply shock” that amplifies demand-driven price moves.

Similarly, it shows the priorities of investors. By staking ETH, investors essentially work as long-term participants. In this way, they align their incentives with network security and yield instead of short-term trading.

ETH’s recent rally to $4,500 also coincided with record staking levels, creating a feedback loop – higher prices attracted institutional inflows from custodians, exchange-traded funds (ETG), and whales, while reduced liquid supply added further upward pressure.

ETH’s Transition Into An Institutional Asset

ETH ETFs now hold more than $300 billion in reserves, while asset managers such as BlackRock are actively accumulating. This underscores Ethereum’s transition from a speculative asset to a yield-bearing, institutionally supported infrastructure layer.

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U.S.-based spot ETH ETFs also enjoyed a long streak of positive inflows, lasting from the week ending May 16 through the week ending August 15. Commenting on this shift, XWIN Research Japan noted:

Ethereum’s all-time-high staking levels reveal its underlying strength: while Bitcoin faces selling dominance in taker metrics, ETH is experiencing structural supply reduction. This divergence highlights Ethereum’s growing role not just as a crypto asset, but as the backbone of tokenization, DeFi, and RWA adoption.

Similar sentiments were recently echoed by Tom Lee, the co-founder of Fundstrat Global Advisors. Lee noted that ETH is getting closer to becoming the backbone of global markets.

That said, some risks remain. For instance, ETH price is still lagging despite ATH in daily network transactions. At the time, the analyst said that ETH was likely still in the accumulation phase.

Similarly, the recent price pullback in ETH after creating a new ATH over $4,900 shows how recurring liquidation cycles are shaping ETH’s price action every week. At press time, ETH trades at $4,606, up 2.5% in the past 24 hours.

Featured image from Unsplash, charts from CryptoQuant and TradingView.com

Chinese fintech company Linklogis has announced a partnership with the XRP Ledger (XRPL) to digitize global supply chain finance, according to a recent statement.

The move will see Linklogis deploy its trade finance application on XRPL’s mainnet, a step aimed at scaling blockchain adoption for cross-border settlements.

The collaboration is designed to unlock faster circulation of digital assets tied to international trade flows. Linklogis intends to simplify settlement for exporters, importers, and financiers by linking its financial infrastructure with XRPL.

Beyond the initial rollout, both sides have committed to developing new products on XRPL.

These include stablecoin-based settlement systems and smart contract platforms that can bring supply chain real-world assets (RWAs) into tokenized form.

Linklogis also signaled that it will explore using artificial intelligence with blockchain to improve trade finance efficiency.

According to the firm, its “Go Early” and “Go Deep” business programs processed more than RMB 20.7 billion (about $2.8 billion) in cross-border assets last year. By anchoring those flows to XRPL, Linklogis aims to extend efficiency and transparency across global supply chains.

XRPL’s expanding RWA footprint

The integration comes as XRPL accelerates its adoption across RWA sectors.

Data from RWA.xyz shows the network’s tokenized RWA volume climbed 22.81% in the past month, reaching roughly $305.8 million. That growth has positioned XRPL as the ninth-largest blockchain by RWA value, supported by its expanding roster of enterprise partners.

Notably, XRPL’s recent global partnerships highlight its growing relevance in tokenization.

The Dubai Land Department adopted the ledger to power its real estate tokenization program earlier this year in May. A month later, RWA platform Ondo Finance launched tokenized US Treasuries on the network.

Momentum has also spread to Latin America. Brazilian securitization firm VERT issued a 700 million real ($130 million) Agribusiness Receivables Certificate on XRPL through a blockchain-based private credit platform.

Around the same time, exchange Mercado Bitcoin disclosed plans to tokenize more than $200 million in fixed-income and equity products on the ledger.

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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.

Strategy and Metaplanet expanded their Bitcoin (BTC) holdings on Aug. 18, lifting their combined ownership to nearly 3.1% of the total circulating supply. 

The acquisitions highlighted the role of corporate treasuries in tightening available Bitcoin liquidity as institutions continue building exposure.

Growing the stash

Strategy Chairman Michael Saylor announced the firm’s latest purchase of 430 BTC in an Aug. 18 post on social media. The acquisition was worth nearly $51.4 million at an approximate price of $119,666 per Bitcoin and has a BTC Yield of 25.1% this year.

With the latest addition, Strategy now holds 629,376 BTC, representing nearly 3% of Bitcoin’s total supply. 

The company invested over $46 billion with the average price per BTC at $73,320, resulting in an unrealized profit of over $27 billion as Bitcoin is priced at $116,535 as of press time.

Metaplanet reported purchasing 775 BTC at an average price of ¥17.72 million per coin ($119,853), totaling ¥13.73 billion in expenditures ($92.8 million).

Following the acquisition, Metaplanet now holds 18,888 BTC acquired at a blended average of ¥15.04 million each ($101,726), with a cumulative investment of ¥284.1 billion ($1.9 billion).

Metaplanet has accelerated its Bitcoin treasury operations throughout 2025, more than quadrupling holdings since March.

Together, Strategy and Metaplanet now command nearly 3.1% of circulating Bitcoin, a concentration that highlights the increasing role of listed corporations in the asset’s distribution.

Both companies rely on capital markets to fund their treasuries, amplifying the interplay between equity valuations and Bitcoin accumulation. As these programs expand, the balance between shareholder dilution and treasury accretion will remain under close investor watch.

Strategy updates accumulation policy

Strategy’s acquisitions have drawn renewed scrutiny following its Aug.18 equity guidance update. 

The company now categorizes issuance plans based on multiples of net asset value (mNAV), stating it will actively issue stock to buy Bitcoin when trading above 4.0x mNAV, and opportunistically issue between 2.5x and 4.0x. 

Below 2.5x, issuances are limited to debt servicing and dividends, while sub-1.0x levels may trigger buybacks using credit. 

This framework differs from guidance released less than one month earlier, which outlined stricter limits on equity issuance below 2.5x mNAV. 

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BTC has experienced considerable volatility after setting a new all-time high. Prices quickly reverse, signal possible bull traps, and lead everyone to the question, what is the best code to buy now? Perhaps BTC is set up to experience horizontal integration for some time, within the $116 to $124,000 range.

24 hours7d30D1Yeverytime

The Bulls pushed BTC to a new peak of $124.4K, but suffered intense sales pressure and were trapped by the deceased participants. It is now back to the 118K range. Maintaining this level is important for the bull cycle to be effective. Rebounds from the 118K level are a sure sign of a continuing bullish trend.

On the four-hour chart, BTC’s recent movements reflect a classic fluidity sweep. It went past previous all-time highs, triggering a breakout purchase and a stop loss, but it turned sharply.

(btcusd)

It then dropped sharply under previous lower swings.

Currently, BTC is trading between 116K to 124K range. Without a compelling breakout, analysts hope that price action will remain volatile.

In the meantime, traders have zero in liquidity pockets at both ends of the range.

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What does on-chain data show?

The average seven-day influx of Binance has skyrocketed as we speak, reaching one of the highest levels we’ve seen recently.

This metric tracks the average number of BTCs entering exchanges and has historically been consistent with preparations for sales, margin collateral, or institutional rebalancing.

The spikes show a stable inflow of BTC into Binance’s trading accounts from external wallets. Historically, such spikes have created short-term sales pressure when demand for sufficient locations is not met.

Additionally, Binance’s Netflow tests positive, indicating that the spill will run out.

If buyers do not absorb BTC, imbalances can lead to short-term volatility.

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The $12 billion BlackRock BET rattles out ETH supply, but is it still the best code to buy now?

BlackRock has acquired more than $12 billion in ETH in just 30 days, over 15 times more than BTC purchases in the same period, indicating a strong institutional pivot towards Altcoin King.

BlackRock ETH HOLDINGS

Launched in 2024, BlackRock-Controlled and Managed Isles Ethereum Trust ETF (ETHA) has already raised $1.5 billion in assets, highlighting ETH’s commitment to long-term value.

Its net publication fell to an all-time low in 2025 as its proof model and the EIP-1559 combustion mechanism permanently removes ETH from the circulation.

With BlackRock buying ETH, supply is definitely tightening further, liquidity is declining and price volatility is skyrocketing.

24 hours7d30D1Yeverytime

Analysts predict that ETH could reach $5,000 to $7,000 in 2025.

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