Weekly Market Insight: June Week 3

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Market Updates

16 Jun 2025

Headline News

Last week, Bitcoin eased all the gain in the earlier week and closed with a 0.15% drop last week as Israel launched a series of airstrikes against targets deep inside Iran. Crypto fear and greed index dropped from 72 to 61. Meanwhile, Ethereum increased by 1.5% and Ethereum spot ETFs experienced net inflow of $528.12 million last week, the highest level since December 2024.

Macro-Outlook

The US-China trade talks in London produced a tentative framework: China will ease some rare-earth export restrictions (excluding military-grade minerals), the US will pause student visa bans, keeping 55% effective tariffs on Chinese goods and 10% effective tariffs on US goods.
Israel and Iran have escalated from years-long proxy clashes into direct military strikes. Israel targeting Iran's nuclear and military sites, and Iran firing missiles and drones in retaliation. Oil increased by 12.63% last week, the largest weekly gain since October 2022.
The US inflation increased to 2.4% in May, slightly below the market expectation of 2.5%. The core inflation increased by 0.1%, well below the market expectation of 0.3%. Airline fares were the primary contributor to the decrease in consumer prices.
The US PPI increased by 0.1% in May, also below the market expectation of 0.2%. While recent data suggests a cooling trend in inflation, analysts anticipate that the impact of tariffs will likely begin to appear in Q3 price levels. Additionally, heightened tensions in the Middle East have pushed oil prices higher, adding further uncertainty to the outlook for consumer inflation.
The University of Michigan's consumer sentiment index increased to 60.5 in June, the first increase in sentiment since December 2024, well above market expectations of 53.5.

Upcoming Economic Calendar including,

Tuesday, June 17, 8:30pm: US Retail Sales in May
Thursday, June 19, 2:00am: FOMC Meeting

Weekly-Cryptos-Overview

The US SEC reportedly asked Solana spot ETF issuers to submit updated S-1 filings within a week and will provide feedback within 30 days.
The SEC Chairman Paul Atkins publicly endorsed DeFi, self-custody, self-executing smart contracts, and calling SEC staff to evaluate possible updates to rules that fit DeFi.
The CLARITY Act, legislation aims to provide legal clarity for non-custodial developers, clearer jurisdictional lines, more consumer protection etc, has passed The House Agriculture Committee and The House Financial Services Committee. The legislation will move to the House for consideration.
Stripe acquired Privy, the leading wallet infrastructure that enables users to login via Web2 credentials.
Coinbase plans to launch a 4% Bitcoin-back AMEX credit card in Q4 2025.
SG Forge, the crypto venture of Société Générale, launched USDCV stablecoin on Ethereum and Solana.
Shopify reportedly plans to support USDC payments within this year. The pilot program is expected to launch by this month.
Ant Group reportedly plans to apply for stablecoin issuer licenses in Hong Kong and Singapore.
Walmart and Amazon reportedly plan to launch their own stablecoins to cut payment costs and accelerate settlement.
Interactive Strength announced plans to raise $500 million to acquire FET as its crypto treasury. The company has raised $55 million in initial closing.
SharpLink Gaming announced the company has acquired $463 million worth of Ethereum, holding the largest ETH reserve among public companies. However, the company's stock price plummeted by 83.5% in June.

Layer 1 and Layer 2s

Bitcoin Core team announced to increase the default data carrier limit of OP_RETURN from 80 bytes to nearly 4MB, expanding use cases like timestamps, identity proofs, fungible tokens, BitVM and NFTs.
Kaia Chain Chairman announced the team is working to enable the issuance of a Korean Won (KRW) stablecoin on the network.
Cardano introduced Cardinal Protocol, a new permissionless approach to wrap Bitcoin to Cardano network to be used in various DeFi activities.

Dapps

Bybit launched a high performance DEX on Solana, Byreal. It uses CLMM and RFQ routing for CEX-grade liquidity, Reset Launch feature for token launch, and curated yield vaults called Revive Vault.
Morpho introduced Morpho v2, an intent-based lending platform that enables fixed-rate, fixed-term loans.
AAVE launched sGHO, the staked version GHO in the Safety Module, and is offering approximately 8.13% APY.
The second auto-compounding Stability Pool wrapper, sBOLD, has launched. It enables holders to earn yield from borrowing interest and liquidation gains. sBOLD will soon be available in Spectra Finance to unlock yield trading.
1inch released a new version of Pathfinder, potentially improving swap rates by 6.5%. The new Pathfinder splits trades across multiple DEXes with different market depths.
Chainlink announced the team is facilitating the exchange of a Hong Kong CBDC and Australian dollar stablecoin as part of an ongoing use case in Phase 2 of the e-HKD+ Pilot Program.
Defi App has launched its HOME token, airdropping 10% of token supply to the community and proposing to redistribute fees and buyback in the upcoming governance proposal.
Virtuals expands its AI agent launch to Ethereum with IRIS, the first Virtuals AI agent developed by Nethermind, specialising in smart contract audits.
Curve founder Michael Egorov released a technical paper for his new project, Yield Basis, on how it uses automated leverage rebalancing to eliminate the impermanent loss of a liquidity position.
Ondo launched OUSF on XRP Ledger and enables RLUSD for minting and redemption. Circle also launched native USDC support on XRP Ledger.
Avalon burned 44% of the circulating token supply, which was an unclaimed airdrop for the community. The primary reason for the low claim rate of AVL airdrop appears to be the demanding claiming process which required claimants to maintain a balance equal to 15x their airdrop amount in USDa for 180 days.
Altitude is now live on the mainnet. The protocol enables users to deposit cbBTC or stETH as collateral and deploys the collateral to various DeFi strategies for yield, while users are able to borrow stablecoin against their collateral or perform looping strategy to boost yield.
Humanity Protocol, a palm verified identity protocol, acquired Moongate, which powered the ticket issuance of Token2049, ETHDenver and more in the past.

Upcoming Alpha and Governance

The stablecoin bill GENIUS Act passed the Senate Cloture vote. The Senate is expected to vote on the final passage on June 17 or June 18 in Asia time.
Tron passed the proposal to reduce the SR block generation reward from 16 TRX to 8 TRX and block voting reward from 160 TRX to 128 TRX, potentially reducing the staking yield from 4%~5% to 3%~3.5%.
Starknet will launch STRK Staking V2 on June 17, introducing attestation to validators and commission adjustments for validators.
Arbitrum is voting to allocate approximately $25.8 million worth of ARB for the DeFi Renaissance Incentive Program (DRIP). The program will be conducted in 4 seasons, with each season lasting for 3 months and a maximum of 20 million ARB allocated per season.
Coinbase announced token trading on Base will be available directly from the Coinbase App soon, which is potentially boosting the trading activities on Aerodrome.
Polygon released a roadmap, aiming to increase the network TPS to 1,000 and 5 second finality in July with the upcoming Bhilai upgrade. The roadmap also highlights the goal to further increase the TPS to 100,000 in 2026 and focuses on expanding RWA on Polygon network.
Trust Wallet announced to list RWA on the platform soon.
Silhouette raised $3 million led by RockawayX. The protocol brings shielded trading on Hyperliquid and advanced trading tools such as TWAP, VWAP and more.
Polkadot proposed to convert 500,000 DOT (worth approximately $1.9 million) to tBTC as a Bitcoin Reserve for the Polkadot Treasury over the course of a year.
Cardano's founder proposed to convert $100 million worth of ADA reserve to BTC and native stablecoin USDM and USDA to strengthen the Cardano ecosystem.

Token Unlock

VANA token unlocked on June 16, amount representing 16.8% of the token supply.
ZK token unlocked on June 17, amount representing 21% of the token supply.
ZRO token unlocked on June 20, amount representing 22.2% of the token supply.
LISTA token unlocked on June 20, amount representing 19.3% of the token supply.
MELANIA token unlocked on June 20, amount representing 5.64% of the token supply.
PLUME token unlocked on June 21, amount representing 4.44% of the token supply.
INIT token unlocked on June 24, amount representing 1.67% of the token supply.
SOPH token unlocked on June 28, amount representing 1.25% of the token supply.
GRASS token unlocked on June 30, amount representing 1.28% of the token supply.
OP token unlocked on June 30, amount representing 1.86% of the token supply.
KMNO token unlocked on June 30, amount representing 21.8% of the token supply.

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