Bitcoin Breaks $109K ATH Record on ETF Surge

Bitcoin surged to a new all-time high of $109,486 on Wednesday, eclipsing its January peak set during President Trump’s inauguration week. The rally came after a flood of inflows into US spot Bitcoin ETFs, which attracted $3.6 billion in May and helped fuel renewed bullish momentum.

The rally also coincided with easing global trade tensions, including a tariff pause, and positive sentiment around crypto legislation advancing in the U.S. “A decisive close above $107K-$108K on daily timeframes could ignite a move toward $114K-$120K,” said Bitfinex’s Jag Kooner.

Analysts at Standard Chartered cited Bitcoin whale accumulation and rising Treasury term premiums as drivers of demand, projecting a $200K target by year’s end. Meanwhile, Binance founder CZ suggested the cycle peak could reach as high as $500K to $1 million, though others warned of overheated expectations.

Skeptics point to lingering political risks, with a Senate vote recently stalling stablecoin legislation and concerns rising over Trump’s growing crypto ties. Bitwise CIO Matt Hougan warned, “To move crypto forward, we need Congress to pass legislation enshrining crypto’s progress in law.”

Solana Mobile Unveils SKR Token With Seeker Phone

Solana Mobile announced that its new Android device, the Seeker, will begin shipping globally on August 4 alongside the launch of its SKR token. The Seeker includes enhanced features such as SeekerID, the SeedVault Wallet, and an upgraded Solana Dapp Store built around decentralized ownership. SKR will serve as the core incentive and coordination asset for Solana’s mobile platform.

Unlike Solana’s native SOL token, SKR is planned to align specifically with device-level activity, governance, and rewards. Future devices will also support SKR, allowing manufacturers and users to participate in its mobile-first economy. A new trust framework called TEEPIN will anchor the architecture, enabling secure, decentralized app development and hardware integration at scale.

World Raises $135 Million From a16z, Bain for WLD

Sam Altman’s World raised $135 million in a private token sale to Andreessen Horowitz and Bain Capital Crypto, the company confirmed May 21. The funding will accelerate U.S. expansion and increase distribution of its Orb devices, which use iris scans to generate verified World IDs. Access to the World app and WLD token has recently opened to American users for the first time.

The WLD token, launched in 2023, is up 55% in the last month but remains 75% below its all-time high. The project aims to bring biometric verification to over 180 million Americans by year-end, with orbs now linked to airdrops and in-app utility. Altman says the goal is to create a decentralized identity layer that powers real-world miniapps and economic interactions globally.

BlackRock’s IBIT Now Top 5 ETF by Inflows

BlackRock’s spot bitcoin ETF, IBIT, has surged to $8.9 billion in 2025 inflows, placing it among the top five U.S. ETFs this year, Bloomberg’s Eric Balchunas reported. The fund has drawn $6.5 billion in the past month alone, overtaking the SPDR Bloomberg 1-3 Month T-Bill ETF in net flows. IBIT’s current assets under management now sit at $66.9 billion.

Other top ETFs by inflow this year include iShares SGOV, VTI, and SPLG, though IBIT still trails the Vanguard S&P 500 ETF by a wide margin. Analysts attribute IBIT’s climb to renewed institutional demand following a pause in U.S. tariff escalation. Bitcoin ETF inflows have rebounded sharply since March, reversing early-year losses linked to macroeconomic uncertainty.

Data of the Day

Ethereum’s decentralized exchange user base climbed 73% this month, reaching a three-month high of 64,000 daily traders. Most of the uptick is attributed to small-scale retail trades rather than institutional inflows, as total monthly volume remains flat at $15 billion. Analysts say renewed ETH momentum has likely drawn traders back into on-chain markets.

Uniswap captured 97% of this activity, generating $13 billion in volume and serving nearly every active trader on Ethereum. The platform’s dominance remains unchallenged despite rising competition from newer DEXs and Layer 2s. If momentum continues, analysts expect trading volumes to follow, potentially signaling broader DeFi market re-entry.

More Breaking News

• Coinbase revealed that a December data breach compromised information of over 69,000 users, involving insider bribery and prompting a DOJ investigation.
• Texas has officially passed a bill to establish a Strategic Bitcoin Reserve, with supporters expecting Governor Abbott to sign it into law within weeks.
• Hong Kong has joined the global regulatory race by passing legislation to license fiat-backed stablecoins, with applications opening by year’s end.
• SEC Commissioner Hester Peirce clarified that NFT royalties do not make tokens securities, comparing them to streaming revenue for digital content.
• A US tourist in London lost $123,000 in crypto after being drugged and abducted by a fake Uber driver, fueling concerns over targeted thefts.
• South Korea approved new crypto compliance rules for nonprofits and exchanges, paving the way for institutional access starting in June.
• Internet celebrity Hailey Welch says the FBI and SEC cleared her of wrongdoing after the HAWK memecoin collapsed in a suspected pump-and-dump.
• Yield-bearing stablecoins have reached $11 billion in circulation, pushed by protocols like Pendle as users seek yield in a high-rate environment.

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