🚨 Onchain Buzz: Today’s Top Crypto Stories

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CoinGape Media
June 25, 2025

📰 News

Barely days after a slump induced by US airstrikes on Iran, the Bitcoin hashrate has tumbled by 15% triggered by heatwaves in Texas.

Bitcoin Hashrate Falls By 15.5% – Here’s Why

According to data from Blockchain.com, Bitcoin’s hashrate has fallen from highs of 943 billion terahashes per second (TH/s) to settle at 799.9 TH/s. The decline represents a 15.8% decline over the last ten days for the flagship cryptocurrency, its biggest fall in nearly three years.

The first cracks in the Bitcoin hashrate appeared after the US launched airstrikes at Iranian nuclear assets. While the geopolitical tensions triggered a crypto market crash, Bitcoin hashrates dipped as Israel and US airstrikes affected Iran’s electricity supply.

Furthermore, the imposition of an internet blackout by the Iranian government aligned with a 2.2% hashrate decline to 865TH/S over the weekend.

However, the biggest driver behind falling Bitcoin hashrate levels is rising summer temperatures in the US. Heat waves in Texas are forcing miners on the Electric Reliability Council of Texas (ERCOT) power grid to reduce their operations.

Typically, the miners turn off their mining rigs for a few hours or even days to protect their hardware as temperatures inch toward 40 degrees.

Strategy's Bitcoin-backed securities hit $3.3B. Investors turn to crypto yield products as they challenge traditional gold ETFs.

Bitcoin-Backed Securities Gains Traction as Market Matures

This uptrend highlights a growing interest in cryptocurrency-based investments, offering a new way for people to earn steady returns using Bitcoin. The chart, spanning from February to June 2025, shows a steady climb in the total value of these securities.

Starting at around $0.5 billion, the value rose to an impressive $3.3 billion by mid-June. The growth is split across three categories: STRK, STRF, and STRD, each represented by different colors. STRD, in green, saw the biggest jump recently, pushing the total value higher as the year progressed. This suggests strong demand for these Bitcoin-backed products.

Strategy products’ milestone suggests a maturing space. The company’s work could encourage more firms to enter this field, potentially increasing options for investors.

BlackRock bought $98M ETH amid the crash—will this fuel a rally to $3,000? Key levels to watch as ETF inflows surge.

BlackRock Buys $98 million worth of ETH

As noted above, the total spot Ethereum inflow on June 24 came down to $71.3 million amid BlackRock’s $98 million buy and Fidelity’s $26.7 million sale. The recent purchase from BlackRock, the world’s largest asset manager, brings their total holdings to $5.40 billion. But is this enough to push the Ethereum price beyond $3,000?

XRP price is teetering at $2.19 as Israel-Iran tensions spike volatility. Falling wedge breakout could rally it to $2.65—or will it crash?

How the Iran-Israel War Impacts XRP Price

The Iran-Israel conflict will likely affect how the price of XRP performs in the near term. The impact will mirror how other assets, such as stocks, perform during periods of uncertainty when traders abandon more volatile assets like crypto and shift their focus to assets like gold.

For instance, on June 13, which was when the tensions between the two countries were at their peak, XRP price crashed from $2.27 to $2.08 within hours. Again, over the weekend, after reports that the US had struck nuclear sites in Iran, XRP once again crashed, with the price briefly dropping below $2 per CoinMarketCap data.

Conversely, after reports emerged that Iran and Israel were on the same page in a ceasefire deal earlier this week, the Ripple price rebounded from $2.01 to $2.21 as interest towards the altcoin surged.

Going by this historical data, it is clear that this conflict has a direct impact on the price of Ripple’s token. Therefore, if there is an escalation, traders should anticipate the XRP price to crash further. On the other hand, if there is a resolution and the risk appetite towards crypto assets returns, the price of Ripple will likely undergo a notable upward trend.