Bitcoin Market Dynamics
Although the price of Bitcoin is still hovering around the $100,000 mark due to the Israel-Iran conflict, the cryptocurrency industry is gradually maturing with the recent passage of the GENIUS Act by the US Senate. As Senator Lummis said, "The key to the success of the GENIUS Act is comprehensive market legislation that protects customers, increases transparency and establishes clear trading rules." In addition, some family offices and private companies are increasingly interested in Bitcoin reserve strategies.
$4 billion family office VMS Group to start investing in cryptocurrencies: The Hong Kong-based multi-family office plans to invest $10 million in Re7 Capital Strategies
Trump Media and Technology Group announced a $400 million stock buyback plan: The company said the buyback plan will not affect the Bitcoin reserve plan.
BTCFi Investment Opportunities
The Bitcoin decentralized finance market continues to grow, with its total locked value remaining at $6.4 billion.
Here are the latest ecosystem news you need to know:
Stacks
Stacks is the leading Bitcoin layer 2 network that enables smart contract programming and decentralized finance on the Bitcoin network.
The community proposes SIP-031.1 bill: The Stacks community is considering SIP-031, a governance proposal to create a community-managed donation fund to fund ecosystem growth and infrastructure construction. The latest version, SIP-031.1, adds a community fund and sets a mechanism for destroying STX tokens when the fund is large enough.
Voting begins on June 25 and ends on July 9: STX holders will be able to vote over two weeks .
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Stacks DeFi Season (DeFi SZN) offers 50,000 STX prize pool
Source: Stacks
Stacks DeFi Season (DeFi SZN) launched, offering 50,000 STX rewards: In cooperation with Zealy, the top BTCFi protocol on Stacks launched an on-chain task activity . Participating protocols include Granite, Bitflow Finance, Zest Protocol, Hermetica, StackingDAO and Velar.
Xverse releases major application upgrade: The upgrade includes support for two-way exchange of BTC and STX. In addition, Xverse supports all major payment methods for direct purchase of BTC and STX.
Zest shared three major income strategies on Stacks: Users can obtain an annualized yield of about 30% and 4 times the points reward by providing liquidity to the ATX-aeUSDC pool on Bitflow. In addition, users can stake USDh on Hermetica, with the current annualized yield of about 10%.
ALEX Labs will reopen AMM liquidity pools: Automated market maker liquidity pools such as STX-WELSH , which were previously closed due to complete withdrawal of liquidity, are expected to reopen in the coming weeks.
CoreDAO
CoreDAO is one of the top BTCFi ecosystems in terms of total locked value. CoreDAO is building on-chain Bitcoin finance, covering staking, structured products, and institutional access.
The top five EVM chains by number of unique active wallets in the past 30 days: DappRadar data shows that Core has 6.25 million independent active wallets in the past 30 days.
The Core ecosystem introduces Luganodes as a validator: Luganodes is a non-custodial institutional staking service provider with more than US$2.3 billion in assets under management.
Babylon
Babylon is the leading project in the current Bitcoin re-staking sector, with a total locked-in value of up to US$4.8 billion .
Kraken Launches Bitcoin Staking Service, Rewards BABY Tokens: Users will be able to stake Bitcoin and earn BABY tokens as rewards. According to Kraken, the Babylon Bitcoin staking feature will only be available in the United States (except California, Maine, Maryland, New Jersey, New York, Washington, and Wisconsin), the United Kingdom, Australia, and the United Arab Emirates.
South Korean listed company Bitmax integrates Babylon staking protocol: This integration incorporates Bitcoin staking into Bitmax’s reserve strategy).
