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Bitcoin Exchange Outflows Signal Potential Supply Shock
According to U.Today, Bitcoin is currently trading at approximately $104,600, having struggled to regain momentum after peaking near $110,000. Technical analysis indicates that Bitcoin is hovering above the 26-day EMA, with a clear decline below $103,972 potentially intensifying downward pressure and pushing the price into the high-$90,000 range or lower.
On-chain data from CryptoQuant reveals a significant decrease in Bitcoin held on exchanges, dropping from about 2.75 million BTC in early 2023 to just 2.43 million BTC by late May 2025. This represents an outflow of more than 300,000 BTC in less than 18 months. While such outflows typically suggest increased long-term holder conviction or custodial shifts to cold storage, the current weak price action complicates the outlook. Theoretically, declining reserves should be bullish, indicating less selling pressure. However, if prices continue to fall, it may signal that demand is drying up faster than supply is being withdrawn.
This situation could create a liquidity vacuum, leaving the market with less available Bitcoin and fewer active buyers. Two scenarios are possible: a supply shock leading to a parabolic rally if buyers return, or a structural collapse if institutions exit, leaving the market vulnerable. The technical setup suggests a downward path is more likely, with a retest of $100,000 anticipated and a possible decline below $98,000 unless Bitcoin finds support above its EMA and achieves higher highs.
| Date | BTC on Exchanges | BTC Price |
|---|---|---|
| Early 2023 | 2.75 million | — |
| Late May 2025 | 2.43 million | $104,600 |
- Over 300,000 BTC outflow from exchanges in 18 months
- Potential for supply shock or market vulnerability
- Technical indicators suggest possible decline below $98,000
Key Takeaway: Despite decreasing supply on exchanges, weak demand and technical signals point to possible further declines for Bitcoin, with a supply shock only likely if buyer interest returns.
World Vision Becomes First Nonprofit to Trade Crypto in South Korea
Cointelegraph reports that World Vision Korea has become the first nonprofit to sell cryptocurrency in South Korea following the country's updated regulations. The organization sold 0.55 Ether (ETH), valued at approximately 1.98 million won ($1,436), on Upbit. This Ether was donated during a March campaign encouraging Upbit users to support underprivileged youth.
The regulatory update, announced by South Korea’s Financial Services Commission on May 20, allows nonprofits and virtual asset exchanges to sell cryptocurrencies under new compliance standards. Starting June 1, nonprofits can now liquidate crypto donations, and exchanges can sell crypto to cover operational costs, provided they use real-name accounts and comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Nonprofits must have at least five years of audited financial history to participate.
Upbit, South Korea’s largest exchange by volume, saw trading volumes fall by 34%, from $561.9 billion in Q4 2024 to $371 billion in Q1 2025, amid a broader market downturn. Later in 2025, the FSC will permit publicly listed companies and professional investors to trade crypto. It is estimated that over 16 million South Koreans, about a third of the population, hold crypto accounts.
| Metric | Value |
|---|---|
| ETH Sold by World Vision | 0.55 ETH |
| Value in Won (KRW) | 1.98 million |
| Value in USD | $1,436 |
| Upbit Q4 2024 Volume | $561.9 billion |
| Upbit Q1 2025 Volume | $371 billion |
| Crypto Account Holders in South Korea | 16 million+ |
- Nonprofits must have five years of audited financial history to sell crypto
- Exchanges can liquidate user fees paid in crypto under new rules
- Publicly listed companies will be allowed to trade crypto later in 2025
Key Takeaway: South Korea’s regulatory changes have enabled nonprofits like World Vision to sell crypto donations, marking a significant step in the country’s evolving crypto landscape.
Tocexa Crypto Exchange Secures SEC and MSB Licenses
According to Morningstar, Tocexa Crypto Exchange Limited has completed registration with the U.S. Securities and Exchange Commission (SEC) and obtained a Money Services Business (MSB) license from the Financial Crimes Enforcement Network (FinCEN). The SEC registration (CIK: 0002066357, File No: 021-544925) became effective on May 1, 2025, authorizing Tocexa to conduct regulated activities involving U.S. stocks, ETFs, tokenized securities, and compliant digital assets.
The MSB license (Registration Number: 31000297125437), approved on April 9, 2025, allows Tocexa to offer fiat-to-crypto exchange, remittance, and money transmission services across all U.S. states and territories. These dual federal credentials position Tocexa as a compliant and secure infrastructure provider for the tokenized finance ecosystem, enabling integration with traditional financial systems and supporting institutional partnerships.
Tocexa plans to expand its licensing internationally, with applications underway for a Hong Kong SFC license (Type 1 & 7), UK FCA registration for cryptoasset activities, and Dubai VARA licensing for Web3 and tokenized securities. The company is headquartered in Denver, Colorado, and is powered by its proprietary AI trading system, ChainIQ™.
| License | Effective Date | Scope |
|---|---|---|
| SEC Registration | May 1, 2025 | U.S. stocks, ETFs, tokenized securities, digital assets |
| MSB License | April 9, 2025 | Fiat-to-crypto exchange, remittance, money transmission (U.S. wide) |
- Plans for Hong Kong SFC, UK FCA, and Dubai VARA licenses
- AI-powered trading infrastructure (ChainIQ™)
- Focus on global compliance and institutional partnerships
Key Takeaway: Tocexa’s dual U.S. federal licenses mark a significant step in regulated digital asset trading, with further international expansion planned.
Your Bourse Expands Crypto Connectivity via Axon Partnership
FinanceFeeds reports that Your Bourse, a leading brokerage technology provider, has partnered with Axon Trade to offer clients direct access to over 25 cryptocurrency exchanges through Axon Trade’s Execution Management System (EMS) and a standardized FIX API connection. This integration allows brokers to efficiently access digital assets alongside traditional FX and CFD instruments, streamlining market data and trading connectivity.
Your Bourse’s infrastructure includes a powerful Matching Engine, Liquidity Aggregation, and Risk Management tools, enabling seamless trading for brokers and institutional firms. Axon Trade provides a unified FIX interface for trading and market data streaming, allowing clients to connect to multiple digital asset venues without custom integrations. The partnership aims to reduce time-to-market and operational burdens for brokers expanding into the crypto space.
- Direct access to 25+ crypto exchanges via a single FIX API
- Integration available immediately for all Your Bourse clients
- Supports both retail and institutional brokers
“Partnering with Axon Trade means we’re now able to offer our clients access to 25+ crypto exchanges via a single FIX API, thus eliminating the operational burden and unlocking new business opportunities for brokers looking to add crypto assets to their offering,” said Elina Pedersen, Co-Founder and CRO of Your Bourse.
Key Takeaway: The Your Bourse and Axon Trade partnership significantly enhances crypto market access for brokers, offering streamlined connectivity to over 25 exchanges.
Bybit Launches Ecopedia in Collaboration with Circle, Tether, Solana, and Sui
According to TheStreet, Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has launched Ecopedia, the first collaborative blockchain ecosystem wiki. Developed with Circle, Tether, Solana, and Sui, Ecopedia is a free, open-access educational hub designed to simplify crypto learning for both beginners and advanced users.
Ecopedia features in-depth, ecosystem-specific content, including top projects and dApps across DeFi, NFTs, gaming, stablecoins, AI, and identity. It also provides detailed insights into infrastructure components such as wallets, bridges, smart contracts, and consensus mechanisms. Users can access onboarding tutorials for deposits, bridging, swapping, staking, and trading within Bybit’s suite of products across both centralized and decentralized platforms.
Most resources are co-authored or endorsed by the respective ecosystems and dApps, ensuring credibility and accuracy. To celebrate the launch, Bybit is hosting a Learn & Earn campaign from May 15 to June 6, 2025, with a $2,500 prize pool distributed in USDC, USDT, SOL, and SUI. The top 250 participants will each receive $10 in tokens.
- Collaborative educational platform with major blockchain partners
- Regular content updates and new ecosystem additions planned
- Learn & Earn campaign with $2,500 prize pool for early participants
Key Takeaway: Bybit’s Ecopedia sets a new standard for blockchain education, offering a collaborative, ecosystem-backed resource for navigating the Web3 space.
Sources:
- No More Bitcoin? Exchange Outflows Show Supply Shock Possibilities
- World Vision first nonprofit to trade crypto in South Korea after ban lifted
- IG Group becomes first UK-listed firm to offer retail crypto trading through Uphold partnership
- Tocexa Crypto Exchange Limited Secures SEC and MSB Licenses, Advancing Global Compliance Strategy
- Your Bourse Adds 25+ Crypto Exchanges Connectivity Through Partnership With Axon
- Bybit Teams Up with Circle, Tether, Solana, and Sui to Launch Ecopedia, the First Collaborative Ecosystem Wiki
