Whale Moves 5 Trillion SHIB from Coinbase Institutional Amid Market Dip

In a notable market development, an anonymous investor has withdrawn a staggering 5 trillion shiba inu (SHIB) tokens, valued at approximately $70 million, from Coinbase Institutional. The funds were transferred to a newly created on-chain wallet, where they currently remain inactive. This move suggests a potential long-term holding strategy, which could reduce immediate selling pressure on SHIB. The transaction occurred alongside an 11% price drop for SHIB, sparking speculation about the whale's intentions and its impact on the market. As of July 24, 2025, the crypto community is closely monitoring this development for further insights into large-scale investor behavior and its implications for SHIB's price trajectory.

Whale Withdraws 5 Trillion SHIB from Coinbase Institutional Amid Price Drop

A significant transfer of 5 trillion Shiba Inu (SHIB) tokens, worth approximately $70 million, has caught market attention. An anonymous investor moved the assets from Coinbase Institutional to a newly created on-chain wallet, where they remain idle—signaling a potential long-term hold strategy that may alleviate immediate selling pressure.

The transaction coincided with an 11% decline in SHIB's price to $0.00001343, mirroring broader weakness across cryptocurrency markets. Such whale activity underscores heightened interest in the Shiba Inu ecosystem and could shape near-term trader sentiment.

Takashi Murakami's 108 Flowers Revised NFT Collection Launches on Base Network

Japanese artist Takashi Murakami is bridging physical and digital art with the launch of his 108 Flowers Revised NFT collection. The on-chain iteration of his physical trading cards will be available for minting on July 31 via the Base app, requiring no prior crypto experience.

The collection features 108 unique Murakami.Flowers blossoms, expanding upon the January 2024 physical release with new characters including flying dragons. Rarities range from Common to Special Art, mirroring the stratification seen in both traditional art markets and crypto collectibles.

Base's involvement signals growing institutional recognition of NFTs as a legitimate medium for established artists. The platform's accessibility features lower barriers to entry, potentially introducing Murakami's traditional collector base to on-chain assets.

SEC Grants Conditional Approval to Bitwise 10 Crypto Index ETF Before Imposing Stay

The SEC's Division of Trading & Markets approved Bitwise's pioneering multi-crypto ETF on Tuesday, only for the agency to halt the decision hours later under Rule 431—a procedural mechanism indicating internal dissent. The MOVE echoes the regulatory hesitation seen with Grayscale's Digital Large Cap ETF earlier this year, raising questions about the SEC's stance on crypto adoption.

The Bitwise 10 ETF would track a market-cap-weighted basket of major cryptocurrencies, with Bitcoin (BTC) dominating at 78.72% and Ethereum (ETH) at 11.10%. XRP (4.97%) and Solana (SOL) (3.03%) comprise the next tier, followed by smaller allocations to Cardano (ADA), Sui (SUI), chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Polkadot (DOT). Coinbase Custody and Bank of New York Mellon were slated to handle asset custody and fiat operations, respectively.

Market observers note a troubling pattern of "approval-with-hesitation" from regulators. As Nate Geraci of Novadius Wealth Management observed: "This approval order is stayed—just like Grayscale's." The tweet from BullrunnersHQ claiming SEC approval for an XRP-specific ETF appears premature, given the broader regulatory freeze.