
Bitcoin's Mempool Is the Busiest Since February 2025
Bitcoin's transaction queue hit 89,031 unconfirmed entries on 5 August, with active addresses at a three-month high. The congestion came from wallet migration, not trading.
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Bitcoin's transaction queue hit 89,031 unconfirmed entries on 5 August, with active addresses at a three-month high. The congestion came from wallet migration, not trading.

Circle's second quarter brought $701M of revenue, $73.3B of USDC outstanding and a Coinbase distribution deal renewed through 2029. Arc's mainnet is dated 16 September.

Bitcoin's 30-day implied volatility fell to 36%, its lowest since 31 May, while US spot ETFs took $211.49 million on a second straight day of inflows.

Strategy sold 1,638 BTC for $104.73 million at an average of $63,957, leaving 842,138 BTC carried at an average cost of $75,419 and a dollar reserve of $4 billion.

Daily active addresses neared 980,000 on 31 July, the most since December 2024, while exchange balances rose, with coin heading toward venues rather than away.

Three outlets put Saturday's bitcoin price in three different places, from $63,082 to a rejection off $65,000, on the thinnest spot volume since 2019.

Bitcoin ended July at $64,131.17 after printing the cycle low at $57,735 on the first of the month, with ether outperforming and ETF flows barely positive.

Coinbase posted $1.22 billion of second-quarter revenue against a $1.29 billion estimate, while claiming a record 10.3% of global crypto trading volume.

Strategy booked an $8.2 billion second-quarter loss on an unrealized markdown of its 843,775 BTC, now carried about $9 billion below what the company paid for it.

The Federal Reserve left its policy rate at 3.50%–3.75% for a fifth straight meeting on July 29, and crypto barely moved: bitcoin held just under $64,000.

Morgan Stanley's MSSE and MSOL began trading Tuesday at 0.14%, the cheapest fee in each category, with staking rewards accruing to the funds themselves.

Stablecoin supply sat near $300 billion in late July, about 3% below its May peak and the market's first contraction since the Terra collapse of 2022.