Today in crypto, Bitcoin social media dominance has surged which may signal a local top, CoinDCX crypto exchange has been hacked for $44 million. Meanwhile, Cayman Islands-based Bullish has filed for IPO registration with the SEC, aiming to list on NYSE as “BLSH.”
Bitcoin 43% social chat dominance suggests ‘key entry point’ ahead
Nearly half of all crypto-related mentions on social media this week centered around Bitcoin as it hit new highs, a level of dominance that may signal a local top and a potential short-term pullback, according to sentiment platform Santiment.
“As Bitcoin’s market value crept above $123.1K for the first time in its 17+ year history, there was an equally historic social dominance spike,” Santiment analyst Brian Quinlivan said in a report on Wednesday.
“43.06% of all crypto discussions were about $BTC just as the coin’s market value was peaking,” Quinlivan added. Quinlivan said that “the sudden spike was indicative of many retail traders FOMO’ing in,” challenging the view held by several other industry participants who believe retail investors have yet to enter the market.
On July 11, Bitwise head of research André Dragosch said, Bitcoin is at new all-time highs, but retail is “almost nowhere to be found.”
CoinDCX crypto exchange hacked for $44 million
CoinDCX, a local crypto exchange in India, was hacked on Friday in a “sophisticated server breach,” according to CoinDCX founder and CEO Sumit Gupta.
The issue was isolated, and all user funds remain safe, the CEO said in a June 19 X post. The CEO released this statement:
“Today, one of our internal operational accounts — used only for liquidity provisioning on a partner exchange — was compromised due to a sophisticated server breach. I confirm that the CoinDCX wallets used to store customer assets are not impacted and are completely safe.”
Onchain sleuth ZachXBT said that $44 million was drained through the hack and has since been transferred to wallet addresses on the Solana and Ethereum networks.
Crypto exchange Bullish files for US IPO, targets NYSE listing as “BLSH”
Bullish, a cryptocurrency exchange owned by Bullish Global, has filed for an initial public offering (IPO) in the United States. The Cayman Islands-based firm plans to list its ordinary shares on the New York Stock Exchange (NYSE) under the ticker symbol “BLSH.”
The exact number of shares to be offered and the price range remain unspecified, according to a Friday F-1 registration statement filed with the US Securities and Exchange Commission (SEC). However, the exchange has granted the underwriters a 30-day option to purchase additional shares.
For fiscal year 2024, Bullish reported a net income of approximately $80 million. However, despite this positive full-year result, the company experienced a significant downturn in the first quarter of 2025, reporting a net loss of $349 million compared to a $104.8 million net profit in the same quarter of 2024.
Furthermore, the exchange claims over $1.9 billion in liquid assets, including cash, Bitcoin (BTC), stablecoins and other digital assets.
