Hot News
Last week, Bitcoin lost all of its gains in the first half of the week as Israel launched a series of airstrikes on deep targets in Iran, and ended the week down 0.15%. The escalation of geopolitical tensions caused the cryptocurrency fear and greed index to drop from 72 to 61. At the same time, Ethereum rose 1.5% against the trend, and its spot ETF had a net inflow of US$528.12 million last week, the highest weekly record since December 2024.
Macro Outlook
The United States and China have reached a preliminary framework for the London trade negotiations: China will relax export restrictions on some rare earth minerals (except military-grade minerals), the United States will suspend the ban on Chinese student visas, the United States will maintain tariffs of about 55% on Chinese goods, and China will impose a 10% tariff on American goods.
Israel and Iran have escalated from years of proxy war to direct military strikes. Israel attacked Iranian nuclear facilities and military bases, and Iran launched missiles and drones in retaliatory attacks. Oil prices rose 12.63% last week, the largest weekly increase since October 2022.
The US inflation rate rose to 2.4% in May, slightly lower than the market expectation of 2.5%. Core inflation rose by 0.1%, far lower than the market expectation of 0.3%. The decline in air ticket prices was the main factor in lowering overall consumer prices.
The US PPI rose by 0.1% in May, also lower than the market expectation of 0.2%. Although recent data have begun to show a cooling trend in inflation, analysts expect that the impact of tariffs may not be apparent until the third quarter of the inflation rate. In addition, the intensified tensions in the Middle East have pushed up oil prices, adding more uncertainty to the inflation outlook.
The University of Michigan's consumer sentiment index rose to 60.5 in June, the first increase since December 2024 and well above market expectations of 53.5.
Upcoming economic calendars include:
June 17 (Tuesday) 20:30: US retail sales data for May
June 19 (Thursday) 02:00: Federal Reserve FOMC meeting
Cryptocurrency Market Overview
The U.S. SEC reportedly requiresSolana spot ETF issuers to submit an updated S-1 filing within a week and provide feedback within 30 days.
SEC Chairman Paul Atkins publicly supported DeFi protocols, self-custody wallets, and decentralized smart contracts, and called on SEC staff to evaluate rule updates suitable for DeFi.
The CLARITY Act aims to provide legal certainty for non-custodial developers, clearer jurisdictional boundaries, and more consumer protections, among other things. The bill has passed the House Agriculture Committee and the House Financial Services Committee and will be referred to the House for review.
Stripe acquires Privy , a leading wallet infrastructure provider that allows users to log in via Web2 credentials.
Tencent is exploring a potential deal to acquire Nexon , the Web3 game developer behind MapleStory Universe, Oasys, and CCP Games.
Coinbase plans to launch an American Express credit card with 4% Bitcoin cashback in the fourth quarter of 2025.
SG Forge, the crypto arm of French bank Société Générale, has launched the USDCV stablecoin on Ethereum and Solana.
Shopify reportedly plans to support USDC payments this year. The pilot project is expected to start this month.
Ant Group reportedly plans to apply for stablecoin issuing licenses in Hong Kong and Singapore.
Walmart and Amazon are reportedly planning to launch their own stablecoins to reduce payment costs and speed up settlement.
Interactive Strength announced plans to raise $500 million to acquire FET as its crypto asset reserve. The company has raised $55 million in its first round of fundraising.
SharpLink Gaming announced that it had acquired $463 million worth of Ethereum, becoming the public company with the largest ETH reserves. However, the company's stock price plummeted 83.5% in June.
Layer 1 and Layer 2 Public Chains
The Bitcoin Core team announced plans to increase the default data payload limit for OP_RETURN from 80 bytes to nearly 4 megabytes, which will help expand use cases such as timestamping, identity proofs, fungible tokens, BitVM, and NFTs.
Kaia Chain Chairman announced that the team is developing support for the issuance of the Korean Won stablecoin on the network.
Cardano has launched the Cardinal Protocol , which allows Bitcoin to be transferred across the chain to the Cardano network without permission for use in various DeFi activities.
Dapps
Bybit launches Byreal , a high-performance decentralized exchange on Solana. Using CLMM and RFQ routing to provide CEX-level liquidity, Reset Launch for fair token issuance, and the curated Revive Vault for yield.
Morpho launches Morpho v2 , an intent-based lending platform that supports fixed-rate, fixed-term loans.
AAVE launches sGHO , a staking version of the GHO stablecoin in a security module, offering an annualized yield of approximately 8.13%.
The second auto-compounding liquidity stability pool, sBOLD, is now live. Holders are able to earn income from borrowing interest and liquidation proceeds. sBOLD will soon be available on Spectra Finance to unlock yield trading.
1inch released a new version of Pathfinder , which helps to improve the exchange rate by 6.5%. The new version of Pathfinder will split transactions to multiple DEXs based on the depth of different markets.
Chainlink announced that the team is facilitating the redemption of Hong Kong’s CBDC and the Australian dollar stablecoin as part of ongoing use cases in the second phase of the e-HKD+ pilot program .
The DeFi app has launched its HOME token, airdropped 10% of the token supply to the community, and proposed redistributing fees and buybacks in an upcoming governance proposal.
Virtuals expands its AI agent offering to Ethereum with the launch of IRIS , the first Virtuals AI agent on Ethereum developed by Nethermind focused on smart contract auditing.
Curve founder Michael Egorov released a technical white paper for his new project Yield Basis , about how to use automatic leveraged rebalancing to eliminate impermanent loss in liquidity pools.
Ondo launched OUSF on XRP Ledger and supports minting and redemption of RLUSD. Circle also launched native USDC support on XRP Ledger.
Avalon destroyed 44% of the circulating token supply, which was an airdrop that was not claimed by the community. The main reason for the low claim rate of AVL airdrops is the strict claim requirements, which require claimers to maintain a USDa balance equivalent to 15 times the airdrop amount within 180 days.
Altitude is now live on the mainnet . The protocol allows users to deposit cbBTC or stETH as collateral and deploy the collateral to various DeFi strategies to earn returns. At the same time, users can use their collateral to borrow stablecoins or execute circular strategies to increase returns.
Humanity Protocol, a decentralized identity protocol that uses palm authentication, has acquired Moongate , which has provided ticket issuance services for events such as Token2049 and ETHDenver.
Governance/Project Updates
The GENIUS Act, a stable currency bill, has passed a vote to end debate in the Senate. The Senate is expected to hold a final vote on June 17 or June 18, Asia time.
Tron has proposed to reduce the block generation reward of super representatives from 16 TRX to 8 TRX, and the voting reward from 160 TRX to 128 TRX, which may cause the staking yield to drop from 4%~5% to about 3%~3.5%.
Starknet will launch STRK staking V2 on June 17, introducing a validator certification mechanism and validator commission adjustment function.
Arbitrum is voting to allocate approximately $25.8 million worth of ARB for the DeFi Revitalization Incentive Program ( DRIP ). The program will be distributed over four quarters, each lasting three months, with a maximum of 20 million ARB distributed each quarter.
Coinbase announced that it will soon support trading of Basechain tokens directly from the Coinbase App, a move that could significantly increase trading activity on the Aerodrome protocol.
Polygon released a technical roadmap , planning to achieve 1,000 TPS and 5-second final confirmation time in July through the upcoming Bhilai upgrade. The roadmap also proposes a goal of reaching 100,000 TPS in 2026, with a focus on expanding RWA applications on the Polygon network.
Trust Wallet announced that it will soon support the listing of RWA assets.
Silhouette completes $3 million financing led by RockawayX. The protocol will be based on Hyperliquid's private trading platform and provide advanced trading tools such as TWAP and VWAP.
Polkadot proposes to convert 500,000 DOTs (about $1.9 million) into tBTC within a year as a Bitcoin reserve for the protocol’s treasury.
The founder of Cardano proposed to convert $100 million worth of ADA reserves into BTC and native stablecoins USDM and USDA to enhance the Cardano ecosystem.
Token Unlock
VANA tokens were unlocked on June 16, accounting for 16.8% of the total supply
ZK tokens were unlocked on June 17, accounting for 21% of the total supply
ZRO tokens were unlocked on June 20, accounting for 22.2% of the total supply
LISTA tokens were unlocked on June 20, accounting for 19.3% of the total supply
MELANIA tokens were unlocked on June 20, accounting for 5.64% of the total supply
PLUME tokens were unlocked on June 21, accounting for 4.44% of the total supply
INIT tokens were unlocked on June 24, accounting for 1.67% of the total supply
SOPH tokens were unlocked on June 28th, accounting for 1.25% of the total supply
GRASS tokens were unlocked on June 30, accounting for 1.28% of the total supply
OP tokens were unlocked on June 30, accounting for 1.86% of the total supply
KMNO tokens were unlocked on June 30, accounting for 21.8% of the total supply
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