Odaily reports that on-chain sleuth Specter posted on X, stating that approximately 16 hours ago, a wallet suspected to be linked to Mining Exchange exchanged 5,004 ETH for approximately 8.8 million DAI, sparking market attention on the potential reflow of historical funds.

According to their tracking, this address is on-chain associated with the Mining Exchange project, which was initiated in 2019 in Ukraine by Brazilian founder Kaze Fuziyama. The project initially raised funds through a multi-level marketing (MLM) model, was later alleged to be a Ponzi scheme, and pivoted to cloud rendering services after suspending payouts.

The on-chain pathway shows that in March 2024, this wallet received 4,512 ETH from a Mining Exchange-related address. Subsequently, these funds were channeled into staking protocols via Lido and Ether.fi, completing the entire ETH staking arrangement by April 2026, before being fully unstaked on May 4th.

Specter noted that the address was first flagged on June 15th, but a further analysis was only recently completed. This large-scale swap of ETH for DAI suggests a reallocation or potential exit from the long-held staked funds.

Analysis points out that such on-chain behavior—"reactivation of historical project funds coupled with large stablecoin conversion"—typically triggers market concern regarding potential liquidity release and selling pressure.

Odaily Planet Daily News: David Bailey, Chairman and CEO of Nasdaq-listed Bitcoin treasury company Nakamoto, stated that the long-standing controversy and "governance layer conflict attempt" related to BIP-110 ultimately failed, which he described as "extremely bullish" for Bitcoin and further strengthens the stability of its network consensus.

David Bailey stated that the event is viewed as a complex multi-year information warfare process, involving factors such as mining pool competition, alternative clients, UASF mobilization, disputes over node consensus manipulation, and widespread public opinion battles on social media. Even in a highly complex environment of information dissemination and community mobilization, the relevant faction failed to gain significant hashrate support, accounting for "less than 1%," indicating that miners and economic participants generally adhere to the mainstream social consensus. This outcome validates a core characteristic of Bitcoin's governance structure: network consensus is formed jointly by users, miners, developers, and industry participants, rather than being dominated by a single group. He also pointed out that historical cases have shown miners struggle to deviate from social consensus, and this incident further reinforces that conclusion.

However, he also emphasized that the incident exposed the fragility of information coordination among Bitcoin's core developer layer. The current over-reliance on public social media platforms for communication makes it more susceptible to information manipulation and content amplification, significantly increasing coordination costs within the community. This controversy consumed a substantial amount of the community's time and attention resources. He believes that the industry should participate more actively in the Bitcoin Improvement Proposal (BIP) governance process in the future to enhance collaboration efficiency and reduce wasteful internal friction.

David Bailey concluded that Bitcoin demonstrated strong resistance to fragmentation during this event, emphasizing that "technological rationality and economic consensus will ultimately continue to guide the network's direction of development."

According to Onchain Lens monitoring, Machi Big Brother Huang Licheng has increased his long positions leveraged on Hyperliquid. After opening 40x BTC long and 10x HYPE long positions several hours ago, he has added 17 BTC longs worth $1.06 million and 6,900 HYPE longs worth $487,500. His cumulative profit and loss stands at a loss of $33.28 million.

Odaily reported that according to on-chain analyst Ai Yi's monitoring, the unlucky address that "lost 4 long positions in a row and then switched to short 22,000 ETH" cut its losses an hour and a half ago. The opening price was $1,613 and the exit price was $1,772, losing $3.5 million in three days, achieving five consecutive losses.

Odaily Planet Daily News As the peace agreement between the US and Iran releases a large amount of supply, oil prices have fallen across the board. With demand unable to absorb the influx, the market is once again discussing the issue of crude oil oversupply. This is a stunning reversal, as less than three months ago, major global physical crude benchmarks hit record highs; just a few weeks ago, senior industry executives were warning that global inventories had fallen to extremely low levels due to the Iran crisis. Beyond the immediate impact of the strait's reopening, analysts from Morgan Stanley to Goldman Sachs have warned this week that the market faces the risk of oversupply next year.

Kit Haines, head of oil research at energy consultancy Energy Aspects, said: "The overwhelming sentiment in the market right now is bearish." Even before the US and Iran signed a memorandum of understanding in mid-June to reopen the Strait of Hormuz, suppliers in the Persian Gulf were already ramping up shipments. In the weeks following the agreement, over 60 million barrels of crude oil, which had been stranded due to the outbreak of war, flooded the market. (Golden Ten)

According to the latest data from the U.S. Federal Reserve, the seasonally adjusted broad money supply M2 rose to $23.05 trillion in May, breaking through the $23 trillion mark for the first time and hitting an all-time high. M2 has increased for five consecutive months since the beginning of the year, growing by approximately $623 billion from $22.43 trillion in January, with a month-over-month increase of about $247.8 billion, indicating continued liquidity expansion.

Some industry insiders believe that this growth may reflect the Federal Reserve re-releasing liquidity after the tightening cycle, sparking discussions about a "resumption of monetary easing." However, mainstream economic viewpoints argue that money supply typically grows naturally in line with economic scale, and the current increase can also be seen as a recovery from the previous contraction.

At the asset pricing level, the market is broadly focusing on the potential impact of liquidity on risk assets. Due to their limited total supply, crypto assets like Bitcoin are viewed by some investors as a hedge against currency depreciation, reigniting narratives around "liquidity-driven market movements."

Meanwhile, central banks worldwide continue to increase their gold reserves as a reserve asset, which is also seen as an indirect hedge signal against the long-term stability of the fiat currency system. The next M2 data will be released in late July, and the market will continue to observe whether the liquidity expansion persists. (Bitcoin News)

Odaily reported that, according to on-chain analyst Ai Yi's monitoring, six addresses purchased a total of 12,128 ETH via Cowswap over the past 2 hours at an average price of $1,760.55, and subsequently transferred them in batches to Tornado Cash. It is noted that the USDC used to purchase the ETH was bridged from Solana via Circle CCTP, with the earliest transaction history of the funding addresses dating back to 4 years ago.

Odaily Planet Daily reported that Strategy CEO Phong Le stated on the X platform that Bitcoin is essentially "an embodiment of freedom," drawing a parallel by calling it the "United States of the monetary world." Reflecting on his experiences in Vietnam, he noted that while the country has undergone tremendous changes in economic development and social vitality, "the US remains a desired destination for many people around the world," symbolizing opportunity, upward mobility, and institutional freedom.

Phong Le pointed out that America's long-term success stems from its constitutional system, capitalist mechanisms, and culture of innovation, enabling ordinary individuals to achieve class mobility through education, entrepreneurship, and risk-taking—a system exemplified by his family's journey as Vietnamese refugees immigrating to the United States. Building on this, he defines Bitcoin as the "digital form of America," arguing that through transparent rules, code execution, proof-of-work, and a fixed supply mechanism, it realizes a "sovereignless monetary order" akin to a constitutional system.

Phong Le emphasized that Bitcoin is not just an asset but also a "mechanism of hope," offering an alternative for savers in inflationary environments, residents of institutionally unstable regions, and those seeking asset sovereignty. Bitcoin and the institutional spirit of the United States share core principles: individual sovereignty, property rights, open competition, and long-termism. He concluded: "The US provides freedom on a national level; Bitcoin provides monetary freedom on a network level."

Odaily Planet Daily News According to GMGN market data, 币安人生 briefly surged over 20%, reaching a high of $0.91, and is now trading at $0.78.

Odaily reminds users that Meme coin prices are highly volatile; please invest with caution.

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Odaily reported that prediction market platform predict.fun stated that over 120,000 unique users have completed trades on its platform this week, with all activities occurring on BNB Chain.

Odaily Planet Daily News According to on-chain analyst Ai Yi's monitoring, the new address 0x268…47643 withdrew another 61.35 WBTC half an hour ago. Since June 30, it has accumulated a total of 19,725.38 ETH and 161.35 WBTC, with a total value of $41.5 million. Having entered positions at market lows, it now shows an unrealized profit of $3.59 million.

Odaily Odaily News According to Lookonchian monitoring, trader 0xe8be opened a 4x leveraged long position on ANSEM, with a position size of approximately 619,853 $ANSEM (approximately $213,000). The position has recorded unrealized gains of approximately $111,000, with a yield of approximately 209.28%, indicating significant leveraged gains from short-term price volatility.

Odaily Odaily News According to on-chain analyst Yu Jin's monitoring, F2Pool co-founder Wang Chun has reduced his position by selling 36,600 ETH and 160 WBTC in batches over the past few days, with an estimated profit of $3.4 million. He had accumulated approximately 70,600 ETH ($117 million) and 966 WBTC ($60.29 million) through bottom-fishing in June.