The bulls are back, and it’s not just for bitcoin BTC.

Latest data reveals that at least six of the other top 10 tokens by market value, excluding stablecoins, are now trading above their 200-day simple moving averages (SMA).

The 200-day SMA is widely seen by many, including Coinbase, as the barometer of long-term trends. A sustained move above the average is considered bullish momentum.

As of writing, XRP, BTC, BNB, ADA, TRX, SUI, traded comfortably above their respective 200-day SMAs, signaling a bull market. Meanwhile, ETH, SOL, DOGE and LINK remained below the average, data from TradingView show.

That’s an improvement from the end of April, when only XRP, BTC and TRX traded above their 200-day SMAS, and four weeks ago, when only XRP and TRX held above the average.

The data indicates the bull market is fast expanding beyond a select few coins to signal growing investor confidence.

DeFi Development (DFDV), the Nasdaq-listed real estate tech firm formerly known as Janover, bought more of Solana’s SOL SOL, taking its total crypto holdings above $100 million, the company announced on Monday.

The firm said it acquired 172,670 SOL at an average price of $136.81. The $23.6 million purchase is the largest since its crypto pivot last month. The Florida-based company now holds 595,988 SOL, worth nearly $105 million at current prices.

The company said the tokens will be held long-term and staked with a range of validators, including its own, to earn staking yield. DeFi Development’s updated per-share exposure now stands at 0.293 SOL or about $50.42 per share.

The company’s shares surged 20% to $90 in the early minutes of the Monday session, adding to the 30% gain on Friday as crypto prices rallied over the past few days. SOL advanced over 20% over the past week, touching $180 for the first time since February.

The move reflects a growing trend of public companies buying cryptocurrencies for their balance sheets, mimicking the playbook of Michael Saylor’s Strategy (MSTR).

While many companies are following Saylor’s lead and focusing on bitcoin BTC, the largest cryptocurrency, others are looking at alternatives. Last month, Janover was taken over by a group of former executives of crypto exchange Kraken and pivoted to focus on the Solana blockchain, accumulating the network’s native token and operating validators to earn a staking yield. The firm recently laid out plans to raise $1 billion for acquiring SOL.

Read more: DeFi Development Plans to Raise $1 Billion to Buy More Solana

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The number of electricity thefts uncovered in Malaysia soared by 300% between 2018 and end-2024, mainly due to the rise of illegal crypto mining, The Star reported on Monday.

The cases were detected in joint operations that included electricity utility Tenaga Nasional Berhad (TNB), the country’s largest, the Energy Commission and the police.

“Joint operations and nationwide raids have successfully shut down illegal mining setups, contributing to an increase in detected cases from 610 in 2018 to 2,397 in 2024,» the utility said in a statement to The Star.

Crypto mining is the process of discovering new blocks, verifying transactions and adding them to the blockchain that underpins digital assets. The process, especially for proof-of-work blockchains such as Bitcoin, is energy intensive, providing an incentive for unscrupulous miners to steal, rather than pay, for the electricity they use while reaping the reward in the form of new tokens for completing the process.

The largest leap in numbers occurred after 2020. Between 2020 and 2024, the average number of crypto-related electricity theft cases was 2,303 per year, TNB told The Star. The number of public complaints also rose due to increased awareness of how to report the illicit crypto mining TNB added.

Crypto mining is not banned in Malaysia, but anyone who tampers with electrical installations is liable to a fine of 1 million ringgit ($232,720.50) and up to 10 years imprisonment.

CoinDesk reached out to Tenaga Nasional Berhad for a comment.