BTC Short For $600M, ETH For $300M

A large cryptocurrency investor who surfaced two months ago with about $11 billion worth of Bitcoin has opened almost $900 million in short positions against Bitcoin and Ether, signaling expectations of a market correction despite widespread optimism for October. The whale returned to trading on Thursday with a $360 million Bitcoin (BTC) transfer that piqued…

South Korea Tax Agency Targets Cold Wallets in Crypto Seizures

South Korea’s National Tax Service (NTS) is expanding its crackdown on tax evasion, warning that even crypto assets stored in cold wallets will be subject to seizure. According to a report from local news outlet Hankook Ilbo, an NTS official said the agency is prepared to conduct home searches and confiscate hard drives and cold…

Whales Dump $50M in XRP Daily as Bears Look to Pull Price Down to $2.20

Key takeaways: XRP’s (XRP) drop toward $2.80 was preceded by a significant amount of transfers from large holders, which some analysts said may fuel a deeper price correction.  Whales are offloading their XRP XRP whales, or entities holding large amounts of tokens, have intensified their sell-side activity as the price dropped below $3.  Related: Ripple…

Whales Dump $50M in XRP Daily as Bears Look to Pull Price Down to $2.20

Key takeaways: XRP’s (XRP) drop toward $2.80 was preceded by a significant amount of transfers from large holders, which some analysts said may fuel a deeper price correction.  Whales are offloading their XRP XRP whales, or entities holding large amounts of tokens, have intensified their sell-side activity as the price dropped below $3.  Related: Ripple…

Bitcoin Has Room to Hit $180,000: Mayer Multiple Analysis

Key points: Bitcoin’s Mayer Multiple suggests that BTC is closer to “oversold” than “overbought,” even at all-time highs. The gauge has barely moved in recent months as BTC price struggled to seal a decisive breakout. Expectations no longer favor a blow-off top this month. Bitcoin (BTC) is “ice cold” at all-time highs, says a classic BTC…

Phala Network Will Become Ethereum L2 Following Community Vote

Polkadot parachain Phala is set to become an Ethereum layer 2 after the community voted in favor of a recent proposal aimed at ramping computation offerings to enterprise client. “Proposal Passed: Phala is Migrating to Ethereum L2!” a Phala X post from Wednesday reads, adding that it marks the next chapter for the project as it…

Phala Network Will Become Ethereum L2 Following Community Vote

Polkadot parachain Phala is set to become an Ethereum layer 2 after the community voted in favor of a recent proposal aimed at ramping computation offerings to enterprise client. “Proposal Passed: Phala is Migrating to Ethereum L2!” a Phala X post from Wednesday reads, adding that it marks the next chapter for the project as it…

Privacy Experts Warn Ireland Over Encryption and Chat Control Laws

A privacy coalition has urged the Irish government to abandon work on a pre-draft bill that would grant law enforcement access to encrypted messages. Ryan Polk, an author at the Global Encryption Coalition (GEC), which advocates for and defends encryption worldwide, penned an open letter on Thursday, arguing that legislation proposed by Minister for Justice…

Polymarket’s POLY Could Bring Oracle’s Home

Good Morning, Asia. Here’s what’s making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas. ANALYSIS Polymarket’s potential launch of the POLY token may mark the…

ETH Hits ‘New Normal’ as On-Chain Activity Surges

Key takeaways: Ethereum’s onchain activity is structurally higher, signaling durable growth. Institutional inflows and RWA tokenization are major catalysts for ETH demand. Technicals suggest a potential bottom near $4,100 to $4,250. Ether’s (ETH) onchain activity has entered what analysts termed a “new normal,” with sustained network engagement and rising institutional flows providing the clearest fundamental…