Figma Bets Big on Bitcoin, DeFi Corp Eyes Solana Surge: What’s Next for Crypto Giants?
Bitcoin Inches Toward $111K as HODLers Stay Strong and Institutions Keep Buying
Bitcoin is showing quiet strength again. As Asia wakes up on Wednesday, Bitcoin (BTC) is trading just above $105,500, slightly down from $107,000 during U.S. hours. Despite recent geopolitical tensions—including a surprise U.S. military strike on Iran—BTC remains solid. In fact, it’s up 1% over the past month, according to CoinDesk.
This steady performance is not driven by hype or panic. Instead, it’s a mix of long-term investor patience, growing institutional demand, and strategic leverage in futures markets. With Bitcoin flirting with its all-time high of $111,000 set in May 2025, many experts believe a big move is just around the corner.
HODLers Are in Control: Long-Term Investors Stay Put
Long-Term Holders Sitting Tight
According to blockchain analytics firm Glassnode, the majority of Bitcoin investors are not selling. Their data shows a surge in long-term holder supply to 14.7 million BTC, along with low realized profits. That means investors aren’t cashing out—even as prices hover near record highs.
“HODLing appears to be the dominant market mechanic,” Glassnode analysts wrote in a recent report.
Tactical Moves, Not Panic Selling
Metrics like the adjusted Spent Output Profit Ratio (aSOPR) show that the BTC being sold right now mostly comes from recent purchases, not long-held coins. This suggests that short-term traders are making tactical moves, while long-term holders remain unmoved.
Another key metric, Liveliness, which tracks how actively old coins are moving, continues to fall—further proof that veteran holders are sitting this one out.
Institutions Are Quietly Reshaping the Bitcoin Market
$2.2 Billion in Bitcoin ETF Inflows Last Week
While retail investors remain cautious, institutions are jumping in. According to trading firm QCP Capital, $2.2 billion in net inflows entered Bitcoin spot ETFs last week. Major players like Strategy and Metaplanet are quietly accumulating BTC.
Real Capital, Not Just Speculation
This growing interest is transforming the structure of the Bitcoin market. Glassnode reports that the realized cap of Bitcoin—representing the average price at which all coins last moved—has climbed to $955 billion. That means actual capital (not just speculative hype) is flooding into BTC.
Leveraged Longs Rising: Calm Market, But Not for Long
While long-term holders may be calm, leveraged traders are turning up the heat.
QCP notes that funding rates—the cost of holding long positions in perpetual futures—have turned positive across all major platforms. That’s a clear sign that more traders are betting on BTC going higher.
But Glassnode warns: “The market may need to move higher, or lower, to unlock additional supply.” In simple terms, this standoff between HODLers and leveraged longs is unsustainable. A big price swing is likely coming.
Bitcoin’s Mood: Not Euphoria, But a Calculated Standoff
Unlike the wild run in December 2024 when Bitcoin first broke $100K, this rally feels more thoughtful. There’s less frenzy, less profit-taking, and more calm confidence.
BTC’s muted reaction to major global news—like the Senate approving the White House’s massive spending bill—shows a mature, resilient market. It’s less of a stampede and more of a standoff: long-term holders holding tight, short-term traders chasing profits.
Figma and DeFi Corp Make Big Crypto Bets
Figma Holds $70M in Bitcoin ETFs
Design software company Figma just revealed a $70 million investment in the Bitwise Bitcoin ETF (BITB) as part of its IPO filing. The company’s board initially approved a $55 million BTC purchase in March 2024, which has since gained 27% in value.
In May, Figma approved another $30 million investment in USDC, intended for future Bitcoin conversion. Their total planned allocation: $100 million.
DDC Enterprise to Buy 5,000 BTC Over 3 Years
Meanwhile, Hong Kong-based food and beverage giant DDC Enterprise announced a $528 million capital raise to purchase 5,000 BTC gradually over three years. This marks another sign of growing confidence from Asia-based institutions.
DeFi Corp Plans $100M Raise to Buy More Solana
Not just Bitcoin—Solana (SOL) is also getting love. DeFi Development Corp., a U.S.-listed company focused on Solana, plans to raise $100 million via convertible notes due 2030. The offering allows early investors to buy up to an additional $25 million in notes.
This strategic move signals their intent to expand their Solana holdings aggressively.
What’s Next for Bitcoin
So where does Bitcoin go from here?
The data shows a market split between conviction and ambition:
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Long-term holders refuse to sell at $105K–$107K.
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Institutions are steadily buying.
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Leveraged traders are piling into long bets.
With BTC just shy of $111K, the next breakout could be explosive—but whether it moves up or down depends on what triggers the next wave of activity. A new geopolitical shock? An ETF boom? A big whale movement?
In any case, Bitcoin’s calm is unlikely to last. Keep your eyes on the charts and your risk tight.
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