January Weekly Update #4
January 19th to 25th Recap
▫️Strategy acquired an additional 22,305 BTC for $2.13B at $95,284 per BTC
▫️CFTC Chair Mike Selig unveiled 'Future Proof' initiative to upgrade crypto oversight
▫️NYSE began building platform for 24/7 trading & settling of tokenized stocks & ETFs
▫️The Central Bank of Iran purchased over $500M in USDT to support its local currency & facilitate trade
▫️Vietnam opened up crypto exchange licensing with nearly $400M capital barrier to entry
▫️Binance applied for EU crypto license in Greece under MiCA framework
▫️Data from Artemis showed that crypto card volume grew from around $100M monthly in early 2023 to over $1.5B by late 2025, a 106% compound annual growth rate
▫️Mike Novogratz’s Galaxy announced plan to launch $100M crypto hedge fund
▫️SEC moved to dismiss Winklevoss’ Gemini crypto lending lawsuit
▫️Grayscale filed for NEAR & BNB ETFs
▫️Ledger began planning a $4B US IPO
▫️Bitmine acquired 40,302 ETH worth over $114M taking total holdings to 4.24M ETH & $12.8B of crypto + cash
▫️BitGo raised $213M in IPO valuing it at $2B
▫️Superstate raised $82.5M Series B funding to expand onchain equity issuance infrastructure
▫️Data from Coingecko showed that 11.6M tokens failed over 2025
▫️The total stablecoin market cap surpassed $310B & hit a new ATH
▫️The staking ratio's of SOL & ETH hit new ATHs of 70% & 30% respectively
▫️ETH saw 12,601,260 new addresses over 30 days; the highest recorded rolling 30-day total
⏫ Bitcoin Weekly High: $93,655
⬇️ Bitcoin Weekly Low: $87,055
⏫ Ethereum Weekly High: $3,282
⬇️ Ethereum Weekly Low: $2,888
January 26th to February 1st Upcoming Events
January 28 - US interest rate announcement 🇺🇸
January 28 - JUP $10M token unlock 🔓
January 28 - SIGN, $11M token unlock 🔓
February 1 - SUI, $62M token unlock 🔓
February 1 - EIGEN, $12M token unlock 🔓
*Nota Bene
The week's market performance was shaped by heightened geopolitical uncertainty surrounding U.S. strategic interests in Greenland. This spurred volatility across traditional market sectors & crypto as the total market cap retracted 7% to $2.91T, with BTC trading at $86k at the time of writing.
Sentiment was further dampened by the indefinite delay of the CLARITY Act, a legislative setback that triggered more pronounced downswings than anticipated & was mirrored in U.S. ETF data, where BTC funds saw $1.3B in outflows & ETH funds lost $601M despite the shortened trading week. Globally, Switzerland, Germany & Canada recorded inflows of $32.5M, $19.1M & $33.5M respectively.
Looking ahead, we expect continued volatility as the market prepares for the Federal Reserve’s interest rate announcement on Wednesday, coupled with a high-stakes earnings week for Microsoft, Meta, Apple, & Tesla, all of which could determine the pulse for both equity & crypto markets over the coming days.
January 19th to 25th Recap
▫️Strategy acquired an additional 22,305 BTC for $2.13B at $95,284 per BTC
▫️CFTC Chair Mike Selig unveiled 'Future Proof' initiative to upgrade crypto oversight
▫️NYSE began building platform for 24/7 trading & settling of tokenized stocks & ETFs
▫️The Central Bank of Iran purchased over $500M in USDT to support its local currency & facilitate trade
▫️Vietnam opened up crypto exchange licensing with nearly $400M capital barrier to entry
▫️Binance applied for EU crypto license in Greece under MiCA framework
▫️Data from Artemis showed that crypto card volume grew from around $100M monthly in early 2023 to over $1.5B by late 2025, a 106% compound annual growth rate
▫️Mike Novogratz’s Galaxy announced plan to launch $100M crypto hedge fund
▫️SEC moved to dismiss Winklevoss’ Gemini crypto lending lawsuit
▫️Grayscale filed for NEAR & BNB ETFs
▫️Ledger began planning a $4B US IPO
▫️Bitmine acquired 40,302 ETH worth over $114M taking total holdings to 4.24M ETH & $12.8B of crypto + cash
▫️BitGo raised $213M in IPO valuing it at $2B
▫️Superstate raised $82.5M Series B funding to expand onchain equity issuance infrastructure
▫️Data from Coingecko showed that 11.6M tokens failed over 2025
▫️The total stablecoin market cap surpassed $310B & hit a new ATH
▫️The staking ratio's of SOL & ETH hit new ATHs of 70% & 30% respectively
▫️ETH saw 12,601,260 new addresses over 30 days; the highest recorded rolling 30-day total
⏫ Bitcoin Weekly High: $93,655
⬇️ Bitcoin Weekly Low: $87,055
⏫ Ethereum Weekly High: $3,282
⬇️ Ethereum Weekly Low: $2,888
January 26th to February 1st Upcoming Events
January 28 - US interest rate announcement 🇺🇸
January 28 - JUP $10M token unlock 🔓
January 28 - SIGN, $11M token unlock 🔓
February 1 - SUI, $62M token unlock 🔓
February 1 - EIGEN, $12M token unlock 🔓
*Nota Bene
The week's market performance was shaped by heightened geopolitical uncertainty surrounding U.S. strategic interests in Greenland. This spurred volatility across traditional market sectors & crypto as the total market cap retracted 7% to $2.91T, with BTC trading at $86k at the time of writing.
Sentiment was further dampened by the indefinite delay of the CLARITY Act, a legislative setback that triggered more pronounced downswings than anticipated & was mirrored in U.S. ETF data, where BTC funds saw $1.3B in outflows & ETH funds lost $601M despite the shortened trading week. Globally, Switzerland, Germany & Canada recorded inflows of $32.5M, $19.1M & $33.5M respectively.
Looking ahead, we expect continued volatility as the market prepares for the Federal Reserve’s interest rate announcement on Wednesday, coupled with a high-stakes earnings week for Microsoft, Meta, Apple, & Tesla, all of which could determine the pulse for both equity & crypto markets over the coming days.
February Weekly Update #1
January 26th to February 1st Recap
▫️Strategy acquired an additional 2,932 BTC for $264.1M at $90,061 per BTC
▫️SEC clarified rules for tokenized securities, placing asset class under federal securities laws
▫️Trump named crypto-friendly Kevin Warsh as pick for Fed chair
▫️Data showed BTC on track for the longest monthly losing streak since 2018
▫️Tether announced the launch of USA₮, 2025 profits over $10B, alongside $6.3B in excess reserves, $141B exposure in U.S. Treasuries & 27 tons of gold purchases in Q4 2025, worth $4.4B
▫️US DOJ finalized $400M forfeiture tied to Helix darknet crypto mixer
▫️Binance announced plan to convert $1B SAFU stablecoin reserves into BTC within 30 days
▫️Fidelity announced intention to launch dollar-backed FIDD stablecoin on ETH in coming weeks
▫️Data from Artemis revealed Visa captures 90% of on-chain card volume via early infrastructure partnerships
▫️Data showed the top 10 alts make up ~82% of altcoin market cap
▫️TheDAO announced shift to become new $220M Ethereum Security Fund
▫️Bitmine acquired 41,788 ETH worth over $96.8M taking total holdings to 4.28M ETH & $10.7B of crypto + cash
▫️Robinhood announced investment in crypto trading platform Talos at $1.5B valuation
▫️Andre Cronje's Flying Tulip raised additional $75.5M at $1B token valuation
▫️Crypto payments network Mesh reached unicorn status after $75M Series C led by Dragonfly
▫️Vitalik Buterin committed roughly $45M in ETH to open-source security & privacy projects
▫️Aave reclaimed over 50% of DeFi lending market share for the 1st time since 2020
▫️Data showed that Base accounts for over 60% of unadjusted stablecoin transfer volume across all chains
⏫ Bitcoin Weekly High: $90,221
⬇️ Bitcoin Weekly Low: $77,033
⏫ Ethereum Weekly High: $3,029
⬇️ Ethereum Weekly Low: $2,351
February 2nd to 8th Upcoming Events
February 5 - XDC, $29M token unlock 🔓
February 5 - ENA, $23M token unlock 🔓
February 6 - HYPE, $300M token unlock 🔓
February 6 - US employment announcement 🇺🇸
*Nota Bene
Despite starting somewhat positively, the week concluded with a synchronized retreat across both traditional & digital assets, as Friday’s large-scale selloffs in gold, silver, & tech stocks extended into a challenging weekend for the crypto markets. BTC is currently trading at $77,100, reflecting a 10.5% decline WoW.
The overall, broader market weakness manifested in significant institutional outflows as for the 2nd consecutive week, U.S. BTC ETFs saw a reduction in assets exceeding $1B ($1.49B), while ETH ETFs recorded $327M in outflows. The trend was almost universal with Switzerland & Germany recording minor inflows worth $11M & $4.3M respectively, whilst almost all other global markets recorded either outflows or negligible inflows.
On the macro front, the Federal Reserve maintained interest rates as widely anticipated, though sentiment was shifted by President Trump’s nomination of Kevin Warsh as Fed Chair, a Wall Street veteran & former Fed Governor known for his pro-crypto stance.
Looking forward, in the absence of immediate bullish catalysts, investors should prepare for continued volatility through the early part of the week as the market searches for a technical floor & a path toward recovery.
January 26th to February 1st Recap
▫️Strategy acquired an additional 2,932 BTC for $264.1M at $90,061 per BTC
▫️SEC clarified rules for tokenized securities, placing asset class under federal securities laws
▫️Trump named crypto-friendly Kevin Warsh as pick for Fed chair
▫️Data showed BTC on track for the longest monthly losing streak since 2018
▫️Tether announced the launch of USA₮, 2025 profits over $10B, alongside $6.3B in excess reserves, $141B exposure in U.S. Treasuries & 27 tons of gold purchases in Q4 2025, worth $4.4B
▫️US DOJ finalized $400M forfeiture tied to Helix darknet crypto mixer
▫️Binance announced plan to convert $1B SAFU stablecoin reserves into BTC within 30 days
▫️Fidelity announced intention to launch dollar-backed FIDD stablecoin on ETH in coming weeks
▫️Data from Artemis revealed Visa captures 90% of on-chain card volume via early infrastructure partnerships
▫️Data showed the top 10 alts make up ~82% of altcoin market cap
▫️TheDAO announced shift to become new $220M Ethereum Security Fund
▫️Bitmine acquired 41,788 ETH worth over $96.8M taking total holdings to 4.28M ETH & $10.7B of crypto + cash
▫️Robinhood announced investment in crypto trading platform Talos at $1.5B valuation
▫️Andre Cronje's Flying Tulip raised additional $75.5M at $1B token valuation
▫️Crypto payments network Mesh reached unicorn status after $75M Series C led by Dragonfly
▫️Vitalik Buterin committed roughly $45M in ETH to open-source security & privacy projects
▫️Aave reclaimed over 50% of DeFi lending market share for the 1st time since 2020
▫️Data showed that Base accounts for over 60% of unadjusted stablecoin transfer volume across all chains
⏫ Bitcoin Weekly High: $90,221
⬇️ Bitcoin Weekly Low: $77,033
⏫ Ethereum Weekly High: $3,029
⬇️ Ethereum Weekly Low: $2,351
February 2nd to 8th Upcoming Events
February 5 - XDC, $29M token unlock 🔓
February 5 - ENA, $23M token unlock 🔓
February 6 - HYPE, $300M token unlock 🔓
February 6 - US employment announcement 🇺🇸
*Nota Bene
Despite starting somewhat positively, the week concluded with a synchronized retreat across both traditional & digital assets, as Friday’s large-scale selloffs in gold, silver, & tech stocks extended into a challenging weekend for the crypto markets. BTC is currently trading at $77,100, reflecting a 10.5% decline WoW.
The overall, broader market weakness manifested in significant institutional outflows as for the 2nd consecutive week, U.S. BTC ETFs saw a reduction in assets exceeding $1B ($1.49B), while ETH ETFs recorded $327M in outflows. The trend was almost universal with Switzerland & Germany recording minor inflows worth $11M & $4.3M respectively, whilst almost all other global markets recorded either outflows or negligible inflows.
On the macro front, the Federal Reserve maintained interest rates as widely anticipated, though sentiment was shifted by President Trump’s nomination of Kevin Warsh as Fed Chair, a Wall Street veteran & former Fed Governor known for his pro-crypto stance.
Looking forward, in the absence of immediate bullish catalysts, investors should prepare for continued volatility through the early part of the week as the market searches for a technical floor & a path toward recovery.
February Weekly Update #2
February 2nd to 8th Recap
▫️Strategy acquired an additional 855 BTC for $75.3M at $87,974 per BTC
▫️Data showed BTC's weekend trading volume share has steadily declined from 24.2% in 2021 to 19.2% in 2026
▫️House launched probe into $500M UAE deal linked to World Liberty Financial
▫️Data from Artemis showed DATs are down around $25B cumulatively, with zero above their cost basis
▫️Strategy CEO announced that BTC would need to hit $8,000 before any balance sheet issues as mNAV hit ATL of 1.09
▫️ING opened retail access to BTC, ETH, & SOL ETPs in Germany
▫️Startup incubator Y Combinator began offering founders the option to receive funds in stablecoins
▫️Fidelity's FIDD stablecoin went live for retail & institutional investors
▫️Gemini exchange announced exits from EU, UK, & Australia markets
▫️Bitwise filed registration statement with the SEC for UNI ETF
▫️MetaMask integrated tokenized US stocks, ETFs, commodities via Ondo Global Markets
▫️Bitmine acquired 40,613 ETH worth over $86.3M taking total holdings to 4.32M ETH & $10B of crypto + cash
▫️Tether announced $100M strategic equity investment in Anchorage Digital
▫️Blockchain-based prediction-market platform Opinion announced $20M pre-Series A round raise
▫️SOL's validator count continued to fall as vote transactions dropped by 40%
▫️Hyperliquid surpassed $1B in total fees
▫️ETH's active loans surpassed $28B, a 10x increase since 2023
⏫ Bitcoin Weekly High: $79,009
⬇️ Bitcoin Weekly Low: $60,987
⏫ Ethereum Weekly High: $2,358
⬇️ Ethereum Weekly Low: $1,769
February 9th to 15th Upcoming Events
February 9 - MegaETH Mainnet Launch
February 9 -13 - Bitcoin Investor Week, NYC🇺🇸
February 9-13 - Cayman Crypto Week 🏝
February 10 - APT, $12M token unlock 🔓
February 11 - AVAX, $15M token unlock 🔓
February 15 - CONX, $15M token unlock 🔓
*Nota Bene
Crypto faced another turbulent week as BTC touched lows of $62k before showing resilience by recovering to over $70k, ultimately closing 9% down WoW.
This volatility was reflected in U.S. ETF flows, with BTC ETFs recording $318M in outflows while ETH ETFs saw roughly half that amount at $165M. Globally, inflows were recorded in Germany ($87.1M), Switzerland ($30.1M), & Canada ($21.4M).
Last week also saw a pivotal moment for the ETH ecosystem arrive via a post from Vitalik Buterin, who critiqued Layer 2 projects for a lack of progress toward specialized, permissionless Stage 2 scaling. Vitalik also prioritized scaling the ETH base layer itself. While L2 teams have since reaffirmed their commitment to an ETH-centric roadmap, the long-term strategic impact of this shift in narrative remains a primary point of discussion.
Looking forward, despite the late-week rebound in crypto & tech equities suggesting a potential continuation of this mean reversion, the lack of immediate price catalysts warrants a cautious outlook for the week ahead.
February 2nd to 8th Recap
▫️Strategy acquired an additional 855 BTC for $75.3M at $87,974 per BTC
▫️Data showed BTC's weekend trading volume share has steadily declined from 24.2% in 2021 to 19.2% in 2026
▫️House launched probe into $500M UAE deal linked to World Liberty Financial
▫️Data from Artemis showed DATs are down around $25B cumulatively, with zero above their cost basis
▫️Strategy CEO announced that BTC would need to hit $8,000 before any balance sheet issues as mNAV hit ATL of 1.09
▫️ING opened retail access to BTC, ETH, & SOL ETPs in Germany
▫️Startup incubator Y Combinator began offering founders the option to receive funds in stablecoins
▫️Fidelity's FIDD stablecoin went live for retail & institutional investors
▫️Gemini exchange announced exits from EU, UK, & Australia markets
▫️Bitwise filed registration statement with the SEC for UNI ETF
▫️MetaMask integrated tokenized US stocks, ETFs, commodities via Ondo Global Markets
▫️Bitmine acquired 40,613 ETH worth over $86.3M taking total holdings to 4.32M ETH & $10B of crypto + cash
▫️Tether announced $100M strategic equity investment in Anchorage Digital
▫️Blockchain-based prediction-market platform Opinion announced $20M pre-Series A round raise
▫️SOL's validator count continued to fall as vote transactions dropped by 40%
▫️Hyperliquid surpassed $1B in total fees
▫️ETH's active loans surpassed $28B, a 10x increase since 2023
⏫ Bitcoin Weekly High: $79,009
⬇️ Bitcoin Weekly Low: $60,987
⏫ Ethereum Weekly High: $2,358
⬇️ Ethereum Weekly Low: $1,769
February 9th to 15th Upcoming Events
February 9 - MegaETH Mainnet Launch
February 9 -13 - Bitcoin Investor Week, NYC🇺🇸
February 9-13 - Cayman Crypto Week 🏝
February 10 - APT, $12M token unlock 🔓
February 11 - AVAX, $15M token unlock 🔓
February 15 - CONX, $15M token unlock 🔓
*Nota Bene
Crypto faced another turbulent week as BTC touched lows of $62k before showing resilience by recovering to over $70k, ultimately closing 9% down WoW.
This volatility was reflected in U.S. ETF flows, with BTC ETFs recording $318M in outflows while ETH ETFs saw roughly half that amount at $165M. Globally, inflows were recorded in Germany ($87.1M), Switzerland ($30.1M), & Canada ($21.4M).
Last week also saw a pivotal moment for the ETH ecosystem arrive via a post from Vitalik Buterin, who critiqued Layer 2 projects for a lack of progress toward specialized, permissionless Stage 2 scaling. Vitalik also prioritized scaling the ETH base layer itself. While L2 teams have since reaffirmed their commitment to an ETH-centric roadmap, the long-term strategic impact of this shift in narrative remains a primary point of discussion.
Looking forward, despite the late-week rebound in crypto & tech equities suggesting a potential continuation of this mean reversion, the lack of immediate price catalysts warrants a cautious outlook for the week ahead.
February Weekly Update #3
February 9th to 15th Recap
▫️Strategy acquired an additional 1,142 BTC for $90M at $78,815 per BTC
▫️Goldman Sachs disclosed $1.1B in BTC, $1B in ETH, $153M in XRP & $108M in SOL - representing a 0.33% crypto allocation
▫️Coinbase missed Q4 estimates, posted $667M loss, & saw revenue tumble 20%
▫️The BTC hash price index fell to a record low of around 3 cents per terahash
▫️Binance announced completion of $1B transition of SAFU reserves into BTC
▫️Robinhood launched public testnet for blockchain built on ARB
▫️Stripe added x402 integration for USDC agent payments on Base
▫️X Head of Product announced launch of "Smart Cashtags," enabling direct in-timeline trading of stocks & crypto
▫️MegaETH debuted ‘real-time’ mainnet, claiming 50,000 TPS & 10 ms blocks
▫️Danske Bank began offering BTC, ETH ETPs to investors
▫️Uniswap Labs won patent infringement lawsuit as judge dismissed Bancor case
▫️BTC miner Cango sold 4,451 BTC to strengthen balance sheet, back AI push with $305M proceeds
▫️Bitmine acquired 45,759 ETH worth over $91.4M taking total holdings to 4.371M ETH & $9.6B of crypto + cash
▫️Tether announced strategic investment in LayerZero Labs as Citadel & Ark Invest also back ZRO
▫️DefiLlama announced that Thursday saw the 2nd highest Perp DEX volume on record, only behind the volume on 10/10
▫️Data from Greyscale showed that over $100B “locked” in smart contract applications
▫️Analysis showed that AAVE did ~2× more revenue in 1 yr than the other top 10 lending protocols combined
▫️Data from ishares revealed that around 65% of tokenized assets are hosted on ETH
⏫ Bitcoin Weekly High: $70,759
⬇️ Bitcoin Weekly Low: $65,264
⏫ Ethereum Weekly High: $2,128
⬇️ Ethereum Weekly Low: $1,906
February 16th to 22nd Upcoming Events
February 18 -21 - ETHDenver Conference 💎
February 20 - ZRO, $40M token unlock 🔓
February 20 - KAITO, $10M token unlock 🔓
*Nota Bene
Last week saw crypto maintain a neutral-to-bearish stance as BTC continued to consolidate within the $65k - $70k range, ultimately closing the week down 3% WoW.
This cautious sentiment extended to institutional vehicles, with U.S. BTC ETFs recording $360M in outflows while ETH ETFs saw $161M in net exits. Globally, there was a significant divergence in sentiment between the US and the rest of the world as Germany ($115M) , Canada (S$46.3M) & Switzerland ($36.8M) all recorded inflows.
However, this period of US soft price action was not isolated to crypto; broader equity markets faced headwinds as "AI-disruption" anxieties triggered significant sell-offs in tech-enabled sectors, particularly within wealth management.
However, these pressures were partially offset by a resilient macroeconomic backdrop, characterized by strong U.S. job growth numbers & cooler-than-anticipated inflation data. Looking ahead, the absence of immediate major catalysts suggests continued volatility as market participants look for a definitive trend to emerge from the ongoing tug-of-war between bulls & bears.
February 9th to 15th Recap
▫️Strategy acquired an additional 1,142 BTC for $90M at $78,815 per BTC
▫️Goldman Sachs disclosed $1.1B in BTC, $1B in ETH, $153M in XRP & $108M in SOL - representing a 0.33% crypto allocation
▫️Coinbase missed Q4 estimates, posted $667M loss, & saw revenue tumble 20%
▫️The BTC hash price index fell to a record low of around 3 cents per terahash
▫️Binance announced completion of $1B transition of SAFU reserves into BTC
▫️Robinhood launched public testnet for blockchain built on ARB
▫️Stripe added x402 integration for USDC agent payments on Base
▫️X Head of Product announced launch of "Smart Cashtags," enabling direct in-timeline trading of stocks & crypto
▫️MegaETH debuted ‘real-time’ mainnet, claiming 50,000 TPS & 10 ms blocks
▫️Danske Bank began offering BTC, ETH ETPs to investors
▫️Uniswap Labs won patent infringement lawsuit as judge dismissed Bancor case
▫️BTC miner Cango sold 4,451 BTC to strengthen balance sheet, back AI push with $305M proceeds
▫️Bitmine acquired 45,759 ETH worth over $91.4M taking total holdings to 4.371M ETH & $9.6B of crypto + cash
▫️Tether announced strategic investment in LayerZero Labs as Citadel & Ark Invest also back ZRO
▫️DefiLlama announced that Thursday saw the 2nd highest Perp DEX volume on record, only behind the volume on 10/10
▫️Data from Greyscale showed that over $100B “locked” in smart contract applications
▫️Analysis showed that AAVE did ~2× more revenue in 1 yr than the other top 10 lending protocols combined
▫️Data from ishares revealed that around 65% of tokenized assets are hosted on ETH
⏫ Bitcoin Weekly High: $70,759
⬇️ Bitcoin Weekly Low: $65,264
⏫ Ethereum Weekly High: $2,128
⬇️ Ethereum Weekly Low: $1,906
February 16th to 22nd Upcoming Events
February 18 -21 - ETHDenver Conference 💎
February 20 - ZRO, $40M token unlock 🔓
February 20 - KAITO, $10M token unlock 🔓
*Nota Bene
Last week saw crypto maintain a neutral-to-bearish stance as BTC continued to consolidate within the $65k - $70k range, ultimately closing the week down 3% WoW.
This cautious sentiment extended to institutional vehicles, with U.S. BTC ETFs recording $360M in outflows while ETH ETFs saw $161M in net exits. Globally, there was a significant divergence in sentiment between the US and the rest of the world as Germany ($115M) , Canada (S$46.3M) & Switzerland ($36.8M) all recorded inflows.
However, this period of US soft price action was not isolated to crypto; broader equity markets faced headwinds as "AI-disruption" anxieties triggered significant sell-offs in tech-enabled sectors, particularly within wealth management.
However, these pressures were partially offset by a resilient macroeconomic backdrop, characterized by strong U.S. job growth numbers & cooler-than-anticipated inflation data. Looking ahead, the absence of immediate major catalysts suggests continued volatility as market participants look for a definitive trend to emerge from the ongoing tug-of-war between bulls & bears.
February Weekly Update #4
February 16th to 22nd Recap
▫️Strategy acquired an additional 2,486 BTC for $168.4M at $67,710 per BTC
▫️CME Group announced plan to launch 24/7 crypto futures & options trading on May 29
▫️ProShares' stablecoin-ready ETF generated record $17B in day-one trading volume
▫️Wintermute launched institutional tokenized gold trading, expects market to reach $15B in 2026
▫️Research from Grayscale showed that for the last 12 months, BTC price changes have been tightly correlated to U.S. software stocks with relatively high enterprise values (EV) compared to sales
▫️BlackRock announced intention to keep 18% of staking fees generated by new staked ETH ETF
▫️Stripe-owned stablecoin platform Bridge won conditional OCC approval for national bank charter
▫️Data showed US-listed BTC miners' share of global BTC hashrate stays near record high of around 40%
▫️Netherlands banned Polymarket over ‘illegal gambling services’
▫️Canary Capital & Grayscale launched spot SUI ETFs
▫️Harvard trimmed BTC ETF holdings by 21%, built $87M ETH position
▫️Data showed that Abu Dhabi funds held over $1B of BlackRock's BTC ETF at end of last year
▫️Bitmine acquired 51,162 ETH worth over $100M taking total holdings to 4.423M ETH & $9.6B of crypto + cash
▫️Dragonfly raised $650M for 4th crypto fund
▫️Kraken acquired token manager Magna ahead of possible IPO
▫️Crypto investment firm DBA raised $68M for its 2nd venture fund
▫️BTC's Lightning Network surpassed $1B in monthly transaction volume
▫️Coinbase announced Base network moving from OP Stack to their own "unified stack" chain
▫️Research from Galaxy showed that SOL network fees declined by around 60% in Q4 2025
▫️Data showed deposits of PayPal's PYUSD on AAVE increased 40x to reach $400M in Q4 of 2025
⏫ Bitcoin Weekly High: $69,743
⬇️ Bitcoin Weekly Low: $65,926
⏫ Ethereum Weekly High: $2,031
⬇️ Ethereum Weekly Low: $1,912
February 23rd to March 1st Upcoming Events
February 25 - H, $14M token unlock 🔓
February 28 - JUP, $40M token unlock 🔓
March 1 - SUI, $37M token unlock 🔓
*Nota Bene
The crypto market generally maintained a neutral position this past week, with BTC consolidating around $67,600 reflecting a 1% decline WoW amidst a backdrop of heightened macroeconomic & geopolitical sensitivity.
In a shortened trading window, institutional sentiment appeared cautious as U.S. BTC ETFs saw $315M in net outflows while ETH ETFs saw outflows worth $123M. This selling was likely influenced by the broader market uncertainty following the U.S. Supreme Court’s decision to strike down the administration's tariffs, a move that impacts the $133.5B collected in 2025.
Globally, there were some relatively modest inflows as Switzerland, Canada & Germany recorded inflows of $19.5M, $16.8M & $16.2M respectively.
The week was rather light on crypto related news as industry builders gathered at ETHDenver with the threat of quantum computing, AI x crypto & ETH scaling among topics discussed.
Looking towards next week, the absence of immediate crypto-specific catalysts suggests that price action will be largely dictated by external volatility, specifically centered around evolving trade policies & the geopolitical tensions surrounding U.S. & Iran relations.
February 16th to 22nd Recap
▫️Strategy acquired an additional 2,486 BTC for $168.4M at $67,710 per BTC
▫️CME Group announced plan to launch 24/7 crypto futures & options trading on May 29
▫️ProShares' stablecoin-ready ETF generated record $17B in day-one trading volume
▫️Wintermute launched institutional tokenized gold trading, expects market to reach $15B in 2026
▫️Research from Grayscale showed that for the last 12 months, BTC price changes have been tightly correlated to U.S. software stocks with relatively high enterprise values (EV) compared to sales
▫️BlackRock announced intention to keep 18% of staking fees generated by new staked ETH ETF
▫️Stripe-owned stablecoin platform Bridge won conditional OCC approval for national bank charter
▫️Data showed US-listed BTC miners' share of global BTC hashrate stays near record high of around 40%
▫️Netherlands banned Polymarket over ‘illegal gambling services’
▫️Canary Capital & Grayscale launched spot SUI ETFs
▫️Harvard trimmed BTC ETF holdings by 21%, built $87M ETH position
▫️Data showed that Abu Dhabi funds held over $1B of BlackRock's BTC ETF at end of last year
▫️Bitmine acquired 51,162 ETH worth over $100M taking total holdings to 4.423M ETH & $9.6B of crypto + cash
▫️Dragonfly raised $650M for 4th crypto fund
▫️Kraken acquired token manager Magna ahead of possible IPO
▫️Crypto investment firm DBA raised $68M for its 2nd venture fund
▫️BTC's Lightning Network surpassed $1B in monthly transaction volume
▫️Coinbase announced Base network moving from OP Stack to their own "unified stack" chain
▫️Research from Galaxy showed that SOL network fees declined by around 60% in Q4 2025
▫️Data showed deposits of PayPal's PYUSD on AAVE increased 40x to reach $400M in Q4 of 2025
⏫ Bitcoin Weekly High: $69,743
⬇️ Bitcoin Weekly Low: $65,926
⏫ Ethereum Weekly High: $2,031
⬇️ Ethereum Weekly Low: $1,912
February 23rd to March 1st Upcoming Events
February 25 - H, $14M token unlock 🔓
February 28 - JUP, $40M token unlock 🔓
March 1 - SUI, $37M token unlock 🔓
*Nota Bene
The crypto market generally maintained a neutral position this past week, with BTC consolidating around $67,600 reflecting a 1% decline WoW amidst a backdrop of heightened macroeconomic & geopolitical sensitivity.
In a shortened trading window, institutional sentiment appeared cautious as U.S. BTC ETFs saw $315M in net outflows while ETH ETFs saw outflows worth $123M. This selling was likely influenced by the broader market uncertainty following the U.S. Supreme Court’s decision to strike down the administration's tariffs, a move that impacts the $133.5B collected in 2025.
Globally, there were some relatively modest inflows as Switzerland, Canada & Germany recorded inflows of $19.5M, $16.8M & $16.2M respectively.
The week was rather light on crypto related news as industry builders gathered at ETHDenver with the threat of quantum computing, AI x crypto & ETH scaling among topics discussed.
Looking towards next week, the absence of immediate crypto-specific catalysts suggests that price action will be largely dictated by external volatility, specifically centered around evolving trade policies & the geopolitical tensions surrounding U.S. & Iran relations.
March Weekly Update #2
March 2nd to 8th Recap
▫️Strategy acquired an additional 3,015 BTC for $204.1M at $67,700 per BTC
▫️NYSE parent company ICE invested in OKX exchange at $25B valuation
▫️Data showed DAT inflows in February slowed to $555M, the lowest level since October 2024
▫️Kraken became first crypto firm to win access to Fed’s core payments system
▫️Indiana governor signed House Bill 1042 allowing crypto investments in state retirement programs
▫️PayPay, 40% owner of Binance Japan, began seeking up to $1.1B in Nasdaq IPO
▫️Kazakhstan central bank announced plan to invest up $350M in crypto-related assets
▫️Research from ARK showed spot BTC ETFs hit the same cumulative net flows in under two years that took gold ETFs more than 15 years to reach
▫️SEC reached $10M settlement with Justin Sun, Tron Foundation & BitTorrent Foundation
▫️Strike secured New York BitLicense, opening BTC financial services to state residents
▫️MARA opened the door to selling stockpiled BTC in new policy shift
▫️Core Scientific sold $175M in BTC as part of AI pivot
▫️CZ–backed YZi Labs invested $100M into Hash Global's BNB fund
▫️Bitmine acquired 60,976 ETH worth over $119M taking total holdings to 4.535M ETH & $10.3B of crypto + cash
▫️Data from The Block showed that Coinbase's retail arm maintained a 20% share of total trading in Q4 2025, as consumer volume reached $59B against $237B from institutional counterparties
▫️The market cap of RWA on SOL exceeded $1.7B
▫️Data showed that from March ’25 to February ’26, 50% of stablecoin transactions & 71% of volume on EVM chains were DEX-related
⏫ Bitcoin Weekly High: $73,765
⬇️ Bitcoin Weekly Low: $65,430
⏫ Ethereum Weekly High: $2,184
⬇️ Ethereum Weekly Low: $1,836
March 9th to 15th Upcoming Events
March 11 - US inflation announcement 🇺🇸
March 12 - APT, $12M token unlock 🔓
March 15 - CONX, $15M token unlock 🔓
*Nota Bene
The past week was characterized by heightened volatility as geopolitical uncertainty drove BTC to fluctuate between $65,000 and $72,000, ultimately settling at $68,800 at the time of writing, a 3% increase WoW.
Despite this turbulent backdrop, U.S. BTC ETFs recorded $568M in net inflows, while ETH ETFs saw a more modest $24M in positive inflows. The buying was US driven as Canada, Germany, Hong Kong, & Switzerland all saw outflows of $3.6M, $14.8M, $2.2M, & $14.5M respectively.
Normally, with last week's weak US jobs report, the upcoming inflation announcement would more often than not be the event to look out for. However, given the current geopolitical climate, the trajectory of oil prices & further developments in the Middle East are expected to be the primary catalysts for both crypto & broader equity markets in the coming week.
March 2nd to 8th Recap
▫️Strategy acquired an additional 3,015 BTC for $204.1M at $67,700 per BTC
▫️NYSE parent company ICE invested in OKX exchange at $25B valuation
▫️Data showed DAT inflows in February slowed to $555M, the lowest level since October 2024
▫️Kraken became first crypto firm to win access to Fed’s core payments system
▫️Indiana governor signed House Bill 1042 allowing crypto investments in state retirement programs
▫️PayPay, 40% owner of Binance Japan, began seeking up to $1.1B in Nasdaq IPO
▫️Kazakhstan central bank announced plan to invest up $350M in crypto-related assets
▫️Research from ARK showed spot BTC ETFs hit the same cumulative net flows in under two years that took gold ETFs more than 15 years to reach
▫️SEC reached $10M settlement with Justin Sun, Tron Foundation & BitTorrent Foundation
▫️Strike secured New York BitLicense, opening BTC financial services to state residents
▫️MARA opened the door to selling stockpiled BTC in new policy shift
▫️Core Scientific sold $175M in BTC as part of AI pivot
▫️CZ–backed YZi Labs invested $100M into Hash Global's BNB fund
▫️Bitmine acquired 60,976 ETH worth over $119M taking total holdings to 4.535M ETH & $10.3B of crypto + cash
▫️Data from The Block showed that Coinbase's retail arm maintained a 20% share of total trading in Q4 2025, as consumer volume reached $59B against $237B from institutional counterparties
▫️The market cap of RWA on SOL exceeded $1.7B
▫️Data showed that from March ’25 to February ’26, 50% of stablecoin transactions & 71% of volume on EVM chains were DEX-related
⏫ Bitcoin Weekly High: $73,765
⬇️ Bitcoin Weekly Low: $65,430
⏫ Ethereum Weekly High: $2,184
⬇️ Ethereum Weekly Low: $1,836
March 9th to 15th Upcoming Events
March 11 - US inflation announcement 🇺🇸
March 12 - APT, $12M token unlock 🔓
March 15 - CONX, $15M token unlock 🔓
*Nota Bene
The past week was characterized by heightened volatility as geopolitical uncertainty drove BTC to fluctuate between $65,000 and $72,000, ultimately settling at $68,800 at the time of writing, a 3% increase WoW.
Despite this turbulent backdrop, U.S. BTC ETFs recorded $568M in net inflows, while ETH ETFs saw a more modest $24M in positive inflows. The buying was US driven as Canada, Germany, Hong Kong, & Switzerland all saw outflows of $3.6M, $14.8M, $2.2M, & $14.5M respectively.
Normally, with last week's weak US jobs report, the upcoming inflation announcement would more often than not be the event to look out for. However, given the current geopolitical climate, the trajectory of oil prices & further developments in the Middle East are expected to be the primary catalysts for both crypto & broader equity markets in the coming week.
March Weekly Update #3
March 9th to 15th Recap
▫️Strategy acquired an additional 17,994 BTC for $1.28B at $70,946 per BTC
▫️Nasdaq partnered with Kraken in push towards tokenization
▫️Coinbase rolled out crypto futures trading across 26 European countries
▫️Mastercard launched Crypto Partner Program with 85 members from leading crypto firms, payments providers & financial institutions
▫️Wells Fargo filed 'WFUSD' trademark for cryptocurrency & digital asset services
▫️Token2049 Dubai cancelled amid geopolitical uncertainty & safety concerns
▫️Binance filed lawsuit against The Wall Street Journal over DOJ Iran probe report
▫️Global insurance broker Aon tested stablecoin payments with Coinbase & Paxos
▫️Research from Kaiko showed in 2025, SOL recorded $4.15B in net losses while ETH lost $1.62B; despite ETH posting $260M in revenue & SOL generating $170M in fees, while Tron’s $624M in revenue exceeded its inflation costs
▫️Ripple Labs launched $750M equity shares buyback from earlier investors at a $50B valuation
▫️BlackRock debuted staked Ether ETF
▫️Stablecoin payments firm KAST raised $80M in Series A funding round
▫️Singapore-based MetaComp raised $35M in funding backed by Alibaba
▫️Josh Swihart's Zcash Open Development Lab raised $25M in seed funding
▫️Anchorage Digital made strategic investment in Immunefi, & bought IMU tokens
▫️Bitmine acquired 60,999 ETH worth over $133M taking total holdings to 4.596M ETH & $11.5B of crypto + cash
▫️The total stablecoin market cap hit a new ATH of $312B
▫️Hyperliquid crossed $4T in cumulative perp volume
▫️Data fro The Block showed that SOL stablecoin volume hit a record $650B in February
▫️The Ethereum Foundation published a new mandate defining its role, core principles
⏫ Bitcoin Weekly High: $73,786
⬇️ Bitcoin Weekly Low: $65,969
⏫ Ethereum Weekly High: $2,197
⬇️ Ethereum Weekly Low: $1,931
March 16th to 22nd Upcoming Events
March 18 - US interest rate announcement 🇺🇸
March 18 - BARD, $32M token unlock 🔓
March 20 - ZRO, $55M token unlock 🔓
March 22 - RIVER, $25M token unlock 🔓
*Nota Bene
While volatility persisted throughout the week, crypto markets demonstrated notable resilience, outperforming both traditional equities & gold as BTC appreciated more than 9% to trade at $72,600 at the time of writing.
This upward momentum was largely underpinned by robust institutional demand, evidenced by US BTC ETFs recording $763M in net inflows, surpassing the $568M seen the prior week, complemented by $160M in ETH ETF inflows. The US dwarfed other markets as Hong Kong with inflows of $23.1M, Canada with $19.4M, & Switzerland with inflows of $10.4M posted the most significant non US inflows.
On the macro front, the US inflation reading arrived in line with consensus expectations, though investors are increasingly wary that this data does not yet reflect the recent surge in oil prices sparked by intensifying Middle Eastern conflict. Looking ahead, with a lack of crypto-specific catalysts & economists widely projecting the Federal Reserve to hold interest rates steady, geopolitical headline risk remains the primary driver of market sentiment & price action for the coming week.
March 9th to 15th Recap
▫️Strategy acquired an additional 17,994 BTC for $1.28B at $70,946 per BTC
▫️Nasdaq partnered with Kraken in push towards tokenization
▫️Coinbase rolled out crypto futures trading across 26 European countries
▫️Mastercard launched Crypto Partner Program with 85 members from leading crypto firms, payments providers & financial institutions
▫️Wells Fargo filed 'WFUSD' trademark for cryptocurrency & digital asset services
▫️Token2049 Dubai cancelled amid geopolitical uncertainty & safety concerns
▫️Binance filed lawsuit against The Wall Street Journal over DOJ Iran probe report
▫️Global insurance broker Aon tested stablecoin payments with Coinbase & Paxos
▫️Research from Kaiko showed in 2025, SOL recorded $4.15B in net losses while ETH lost $1.62B; despite ETH posting $260M in revenue & SOL generating $170M in fees, while Tron’s $624M in revenue exceeded its inflation costs
▫️Ripple Labs launched $750M equity shares buyback from earlier investors at a $50B valuation
▫️BlackRock debuted staked Ether ETF
▫️Stablecoin payments firm KAST raised $80M in Series A funding round
▫️Singapore-based MetaComp raised $35M in funding backed by Alibaba
▫️Josh Swihart's Zcash Open Development Lab raised $25M in seed funding
▫️Anchorage Digital made strategic investment in Immunefi, & bought IMU tokens
▫️Bitmine acquired 60,999 ETH worth over $133M taking total holdings to 4.596M ETH & $11.5B of crypto + cash
▫️The total stablecoin market cap hit a new ATH of $312B
▫️Hyperliquid crossed $4T in cumulative perp volume
▫️Data fro The Block showed that SOL stablecoin volume hit a record $650B in February
▫️The Ethereum Foundation published a new mandate defining its role, core principles
⏫ Bitcoin Weekly High: $73,786
⬇️ Bitcoin Weekly Low: $65,969
⏫ Ethereum Weekly High: $2,197
⬇️ Ethereum Weekly Low: $1,931
March 16th to 22nd Upcoming Events
March 18 - US interest rate announcement 🇺🇸
March 18 - BARD, $32M token unlock 🔓
March 20 - ZRO, $55M token unlock 🔓
March 22 - RIVER, $25M token unlock 🔓
*Nota Bene
While volatility persisted throughout the week, crypto markets demonstrated notable resilience, outperforming both traditional equities & gold as BTC appreciated more than 9% to trade at $72,600 at the time of writing.
This upward momentum was largely underpinned by robust institutional demand, evidenced by US BTC ETFs recording $763M in net inflows, surpassing the $568M seen the prior week, complemented by $160M in ETH ETF inflows. The US dwarfed other markets as Hong Kong with inflows of $23.1M, Canada with $19.4M, & Switzerland with inflows of $10.4M posted the most significant non US inflows.
On the macro front, the US inflation reading arrived in line with consensus expectations, though investors are increasingly wary that this data does not yet reflect the recent surge in oil prices sparked by intensifying Middle Eastern conflict. Looking ahead, with a lack of crypto-specific catalysts & economists widely projecting the Federal Reserve to hold interest rates steady, geopolitical headline risk remains the primary driver of market sentiment & price action for the coming week.
March Weekly Update #5
March 23rd to 29th Recap
▫️Strategy acquired an additional 1,031 BTC for ~$76.6 million at ~$74,326 per BTC
▫️Fannie Mae announced intention to accept crypto-backed mortgages for the first time
▫️David Sacks left White House crypto role after hitting 130-day limit for special government employees
▫️NYSE partnered with Securitize to develop 24/7 tokenized securities platform
▫️Invesco embraced tokenization as it took over Superstate’s $900M onchain T-bill fund
▫️Data from Kaiko showed that stablecoins now represent 83% of all USD-denominated spot trading volumes
▫️Franklin Templeton, Ondo Finance partnered to launch 24/7 tradable ETFs for crypto wallet users
▫️Bitpanda launched ETH L2 based Vision Chain to enable EU banks to issue and manage tokenized assets
▫️Data from The Block showed that prediction markets currently make up 2.4% of crypto spot exchange volume, a 20-fold increase from near-zero levels just nine months ago
▫️MARA Holdings sold 15,133 BTC for $1.1B to fuel massive debt buyback
▫️Polygon-incubated Katana blockchain acquired IDEX, rolled out new perps offering
▫️Henry Kravis-backed ParaFi raised $125M for new stablecoin & tokenization fund
▫️Circle Ventures led Tazapay $36M Series B extension round
▫️Bitmine acquired 71,179 ETH worth over $142M taking total holdings to 4.732M ETH & $10.7B of crypto + cash
▫️Tom Lee's Bitmine debuted MAVAN institutional ETH staking platform
▫️Balancer Labs wound down operations after 2025 exploit, protocol to continue under DAO governance
▫️Data from DeFiLlama showed that around 12.5% of crypto protocols that launched a token & hit $10M in monthly fees are now dead
▫️Stablecoin market cap on HyperEVM surpassed $1B, led by Circle's USDC
▫️Data from Messari showed the yield bearing stablecoin supply has outpaced the broader stablecoin market by over 15x, with growth phase starting around October 2025
▫️The Ethereum Foundation began preparing for quantum threat with new cryptography roadmap/website launch
⏫ Bitcoin Weekly High: $71,661
⬇️ Bitcoin Weekly Low: $65,539
⏫ Ethereum Weekly High: $2,186
⬇️ Ethereum Weekly Low: $1,966
March 30th to April 5th Upcoming Events
April 1 - SUI, $36M token unlock 🔓
April 1 - ENA, $16M token unlock 🔓
April 3 - US unemployment report 🇺🇸
*Nota Bene
Market volatility persisted over the past week as early optimism regarding Middle Eastern de-escalation gave way to conflicting reports, driving oil prices above $114 & triggering a broader decline in global equities.
Crypto markets mirrored this risk-off sentiment, with BTC currently trading near the $66k mark, reflecting a 2.8% decline WoW. Institutional appetite also showed signs of cooling as spot ETFs faced significant headwinds; US BTC ETFs recorded $296M in net outflows, while US ETH ETFs saw $206M in withdrawals. The adverse geopolitical situation generally froze market activity globally, & Germany & Canada were the most active markets outside of the US, with $21.2M & $15.9M worth of inflows respectively.
Given the ongoing geopolitical uncertainty & its immediate impact on energy & liquidity, investors & traders should prepare for a headline-driven environment alongside heightened volatility in the week ahead.
March 23rd to 29th Recap
▫️Strategy acquired an additional 1,031 BTC for ~$76.6 million at ~$74,326 per BTC
▫️Fannie Mae announced intention to accept crypto-backed mortgages for the first time
▫️David Sacks left White House crypto role after hitting 130-day limit for special government employees
▫️NYSE partnered with Securitize to develop 24/7 tokenized securities platform
▫️Invesco embraced tokenization as it took over Superstate’s $900M onchain T-bill fund
▫️Data from Kaiko showed that stablecoins now represent 83% of all USD-denominated spot trading volumes
▫️Franklin Templeton, Ondo Finance partnered to launch 24/7 tradable ETFs for crypto wallet users
▫️Bitpanda launched ETH L2 based Vision Chain to enable EU banks to issue and manage tokenized assets
▫️Data from The Block showed that prediction markets currently make up 2.4% of crypto spot exchange volume, a 20-fold increase from near-zero levels just nine months ago
▫️MARA Holdings sold 15,133 BTC for $1.1B to fuel massive debt buyback
▫️Polygon-incubated Katana blockchain acquired IDEX, rolled out new perps offering
▫️Henry Kravis-backed ParaFi raised $125M for new stablecoin & tokenization fund
▫️Circle Ventures led Tazapay $36M Series B extension round
▫️Bitmine acquired 71,179 ETH worth over $142M taking total holdings to 4.732M ETH & $10.7B of crypto + cash
▫️Tom Lee's Bitmine debuted MAVAN institutional ETH staking platform
▫️Balancer Labs wound down operations after 2025 exploit, protocol to continue under DAO governance
▫️Data from DeFiLlama showed that around 12.5% of crypto protocols that launched a token & hit $10M in monthly fees are now dead
▫️Stablecoin market cap on HyperEVM surpassed $1B, led by Circle's USDC
▫️Data from Messari showed the yield bearing stablecoin supply has outpaced the broader stablecoin market by over 15x, with growth phase starting around October 2025
▫️The Ethereum Foundation began preparing for quantum threat with new cryptography roadmap/website launch
⏫ Bitcoin Weekly High: $71,661
⬇️ Bitcoin Weekly Low: $65,539
⏫ Ethereum Weekly High: $2,186
⬇️ Ethereum Weekly Low: $1,966
March 30th to April 5th Upcoming Events
April 1 - SUI, $36M token unlock 🔓
April 1 - ENA, $16M token unlock 🔓
April 3 - US unemployment report 🇺🇸
*Nota Bene
Market volatility persisted over the past week as early optimism regarding Middle Eastern de-escalation gave way to conflicting reports, driving oil prices above $114 & triggering a broader decline in global equities.
Crypto markets mirrored this risk-off sentiment, with BTC currently trading near the $66k mark, reflecting a 2.8% decline WoW. Institutional appetite also showed signs of cooling as spot ETFs faced significant headwinds; US BTC ETFs recorded $296M in net outflows, while US ETH ETFs saw $206M in withdrawals. The adverse geopolitical situation generally froze market activity globally, & Germany & Canada were the most active markets outside of the US, with $21.2M & $15.9M worth of inflows respectively.
Given the ongoing geopolitical uncertainty & its immediate impact on energy & liquidity, investors & traders should prepare for a headline-driven environment alongside heightened volatility in the week ahead.
April Weekly Update #1
March 30th to April 5th Recap
▫️Google research paper flagged looming quantum computing threat to BTC & ETH as early as 2029
▫️Metaplanet acquired 5,075 BTC, moved to 3rd largest BTC treasury company
▫️BTC entered the public bond market as Moody’s gave a 1st-of-its-kind crypto deal A rating
Data from Kaiko showed that BlackRock's IBIT does $16-18B daily vol, close to Binance's spot volumes & over 2x Coinbase's $6-8B vol
▫️Riot Platforms revealed to have sold $290M worth of BTC during Q1
▫️Data from Coinshares showed the top 3 countries (US, China, Russia) control ~68% of global BTC hashrate
▫️Franklin Templeton agreed to buy 250 Digital crypto spinoff, & launched Franklin Crypto
▫️Circle announced the launch of cirBTC, Circle Wrapped BTC
▫️Data from Coinbase showed the share of ETH supply held by DATs exceeded 5% of circulating supply by March 2026
▫️KuCoin agreed to pay CFTC $500K settlement to end civil case
▫️Drift Protocol was exploited for over $270M
▫️FX payments/stablecoin startup OpenFX raised $94M
▫️Tokenized asset startup Midas raised $50M in Series A round
▫️Bitmine acquired 71,252 ETH worth over $151M taking total holdings to 4.803M ETH & $11.4B of crypto + cash
▫️Data from The Block showed the supply of non-USD stablecoins hit $1.1B in Feb, with around 1.2M holding addresses
▫️Data from Artemis showed that in March, DEXs recorded $155B in spot volume, the lowest level since Sept 2024
▫️The Ethereum Foundation staked $46M (22,517 ETH) & $93M (45,034 ETH) worth of ETH to move closer to 70K ETH staking target
⏫ Bitcoin Weekly High: $69,125
⬇️ Bitcoin Weekly Low: $65,788
⏫ Ethereum Weekly High: $2,161
⬇️ Ethereum Weekly Low: $2,021
April 6th to 12th Upcoming Events
April 5 - HYPE, $353M token unlock 🔓
April 10 - US inflation announcement 🇺🇸
*Nota Bene
BTC demonstrated notable resilience by trading 1% WoW higher at around the $67k mark at the time of writing. This was despite persistent geopolitical tensions in the Middle East & the high-profile $285M Drift Protocol exploit, the largest DeFi hack of 2026.
This neutral price action persisted even as institutional appetite showed temporary signs of cooling, with US BTC ETFs seeing $203M in net outflows and ETH ETFs recording $91M in outflows.
Global demand painted a surprisingly different picture as Switzerland led the way with $157.5M of inflows, followed by Germany & Canada which saw $27.7M & 11.2M worth of inflows respectively.
As we transition into a week with a relatively light calendar of crypto-specific catalysts, we anticipate the market will continue to be characterized by headline-driven volatility, with price action likely dictated by broader macroeconomic developments & shifts in global risk sentiment.
March 30th to April 5th Recap
▫️Google research paper flagged looming quantum computing threat to BTC & ETH as early as 2029
▫️Metaplanet acquired 5,075 BTC, moved to 3rd largest BTC treasury company
▫️BTC entered the public bond market as Moody’s gave a 1st-of-its-kind crypto deal A rating
Data from Kaiko showed that BlackRock's IBIT does $16-18B daily vol, close to Binance's spot volumes & over 2x Coinbase's $6-8B vol
▫️Riot Platforms revealed to have sold $290M worth of BTC during Q1
▫️Data from Coinshares showed the top 3 countries (US, China, Russia) control ~68% of global BTC hashrate
▫️Franklin Templeton agreed to buy 250 Digital crypto spinoff, & launched Franklin Crypto
▫️Circle announced the launch of cirBTC, Circle Wrapped BTC
▫️Data from Coinbase showed the share of ETH supply held by DATs exceeded 5% of circulating supply by March 2026
▫️KuCoin agreed to pay CFTC $500K settlement to end civil case
▫️Drift Protocol was exploited for over $270M
▫️FX payments/stablecoin startup OpenFX raised $94M
▫️Tokenized asset startup Midas raised $50M in Series A round
▫️Bitmine acquired 71,252 ETH worth over $151M taking total holdings to 4.803M ETH & $11.4B of crypto + cash
▫️Data from The Block showed the supply of non-USD stablecoins hit $1.1B in Feb, with around 1.2M holding addresses
▫️Data from Artemis showed that in March, DEXs recorded $155B in spot volume, the lowest level since Sept 2024
▫️The Ethereum Foundation staked $46M (22,517 ETH) & $93M (45,034 ETH) worth of ETH to move closer to 70K ETH staking target
⏫ Bitcoin Weekly High: $69,125
⬇️ Bitcoin Weekly Low: $65,788
⏫ Ethereum Weekly High: $2,161
⬇️ Ethereum Weekly Low: $2,021
April 6th to 12th Upcoming Events
April 5 - HYPE, $353M token unlock 🔓
April 10 - US inflation announcement 🇺🇸
*Nota Bene
BTC demonstrated notable resilience by trading 1% WoW higher at around the $67k mark at the time of writing. This was despite persistent geopolitical tensions in the Middle East & the high-profile $285M Drift Protocol exploit, the largest DeFi hack of 2026.
This neutral price action persisted even as institutional appetite showed temporary signs of cooling, with US BTC ETFs seeing $203M in net outflows and ETH ETFs recording $91M in outflows.
Global demand painted a surprisingly different picture as Switzerland led the way with $157.5M of inflows, followed by Germany & Canada which saw $27.7M & 11.2M worth of inflows respectively.
As we transition into a week with a relatively light calendar of crypto-specific catalysts, we anticipate the market will continue to be characterized by headline-driven volatility, with price action likely dictated by broader macroeconomic developments & shifts in global risk sentiment.
April Weekly Update #2
April 6th to 12th Recap
▫️Strategy acquired an additional 4,871 BTC for $329.9M at $67,718 per BTC
▫️Iran began charging tanker tolls payable in BTC to secure Strait of Hormuz passage
▫️Morgan Stanley’s BTC ETF drew in $34M on 1st day
US Treasury proposed rules to implement GENIUS Act proposals to counter money laundering
▫️Chainalysis predicted stablecoin volumes could hit $1.5 quadrillion by 2035
▫️Data from Kaiko showed BTC liquidity failed to recover after the Oct. 10 crash. Average 1% depth fell from $8M to $3M before stabilizing at $6M
▫️The Global Risk Institute survey indicated the probability of a cryptographically significant quantum computer emerging within 10 years to be between 28% & 49%
▫️Circle announced future-proofing Arc blockchain against quantum threats
▫️Canary Capital filed spot PEPE ETF application with SEC
▫️New monthly crypto developer count fell to lowest levels since 2017
▫️Polygon Labs opened talks to raise up to $100M for stablecoin payments business
▫️RWA network Pharos closed $44M funding round at $1B valuation
▫️Bitmine acquired 71,524 ETH worth over $157M taking total holdings to 4.875M ETH & $11.8B of crypto + cash
▫️Data from Token Terminal showed ETH accounts for 95.9% of all tokenized commodities with $5.1B worth of commodities tokenized on ETH
▫️The Ethereum Foundation swapped 5,000 ETH into stablecoins for operational & grant funding
⏫ Bitcoin Weekly High: $73,710
⬇️ Bitcoin Weekly Low: $66,906
⏫ Ethereum Weekly High: $2,321
⬇️ Ethereum Weekly Low: $2,071
April 13th to 19th Upcoming Events
April 15 - Digital Assets Summit, El Salvador 🇸🇻
April 15 - CONX, $16M token unlock 🔓
April 16 - ARB, $10M token unlock 🔓
April 16 - OPNEXT Conference, NYC 🇺🇸
April 15 - CONX, $15M token unlock 🔓
*Nota Bene
The market engaged in a period of notable upward momentum fueled by optimism surrounding an Iran-U.S. ceasefire with BTC peaking at over $73,000. The digital asset market then transitioned into a phase of consolidation with BTC stabilizing at around $70,800 at the time of writing, maintaining a 1.7% WoW gain.
This positive sentiment was reflected in fund flows, fueled by the high-profile launch of the Morgan Stanley Bitcoin ETF as U.S. BTC ETFs recorded $833M in net inflows, while ETH ETFs saw $187M in inflows. Globally, the US dominated trading volume as expected while Germany recorded inflows of $34.6M. Canada & Switzerland saw more modest inflows of $7.8M & US$6.9M respectively.
Looking ahead, the stability of the Middle Eastern ceasefire remains a primary focal point, as unresolved disputes regarding Lebanon’s inclusion in the ceasefire & the status of blocked Iranian assets suggest a heightened risk of headline-driven volatility. Given that last week’s rally may have left markets in temporarily overbought territory, investors & traders should remain prepared for a period of cautious price discovery.
April 6th to 12th Recap
▫️Strategy acquired an additional 4,871 BTC for $329.9M at $67,718 per BTC
▫️Iran began charging tanker tolls payable in BTC to secure Strait of Hormuz passage
▫️Morgan Stanley’s BTC ETF drew in $34M on 1st day
US Treasury proposed rules to implement GENIUS Act proposals to counter money laundering
▫️Chainalysis predicted stablecoin volumes could hit $1.5 quadrillion by 2035
▫️Data from Kaiko showed BTC liquidity failed to recover after the Oct. 10 crash. Average 1% depth fell from $8M to $3M before stabilizing at $6M
▫️The Global Risk Institute survey indicated the probability of a cryptographically significant quantum computer emerging within 10 years to be between 28% & 49%
▫️Circle announced future-proofing Arc blockchain against quantum threats
▫️Canary Capital filed spot PEPE ETF application with SEC
▫️New monthly crypto developer count fell to lowest levels since 2017
▫️Polygon Labs opened talks to raise up to $100M for stablecoin payments business
▫️RWA network Pharos closed $44M funding round at $1B valuation
▫️Bitmine acquired 71,524 ETH worth over $157M taking total holdings to 4.875M ETH & $11.8B of crypto + cash
▫️Data from Token Terminal showed ETH accounts for 95.9% of all tokenized commodities with $5.1B worth of commodities tokenized on ETH
▫️The Ethereum Foundation swapped 5,000 ETH into stablecoins for operational & grant funding
⏫ Bitcoin Weekly High: $73,710
⬇️ Bitcoin Weekly Low: $66,906
⏫ Ethereum Weekly High: $2,321
⬇️ Ethereum Weekly Low: $2,071
April 13th to 19th Upcoming Events
April 15 - Digital Assets Summit, El Salvador 🇸🇻
April 15 - CONX, $16M token unlock 🔓
April 16 - ARB, $10M token unlock 🔓
April 16 - OPNEXT Conference, NYC 🇺🇸
April 15 - CONX, $15M token unlock 🔓
*Nota Bene
The market engaged in a period of notable upward momentum fueled by optimism surrounding an Iran-U.S. ceasefire with BTC peaking at over $73,000. The digital asset market then transitioned into a phase of consolidation with BTC stabilizing at around $70,800 at the time of writing, maintaining a 1.7% WoW gain.
This positive sentiment was reflected in fund flows, fueled by the high-profile launch of the Morgan Stanley Bitcoin ETF as U.S. BTC ETFs recorded $833M in net inflows, while ETH ETFs saw $187M in inflows. Globally, the US dominated trading volume as expected while Germany recorded inflows of $34.6M. Canada & Switzerland saw more modest inflows of $7.8M & US$6.9M respectively.
Looking ahead, the stability of the Middle Eastern ceasefire remains a primary focal point, as unresolved disputes regarding Lebanon’s inclusion in the ceasefire & the status of blocked Iranian assets suggest a heightened risk of headline-driven volatility. Given that last week’s rally may have left markets in temporarily overbought territory, investors & traders should remain prepared for a period of cautious price discovery.
April Weekly Update #3
April 13th to 19th Recap
▫️Strategy acquired an additional 13,927 BTC for $1B at $71,902 per BTC
▫️Kelp DAO's rsETH bridge exploited for roughly $292M in LayerZero-based attack
▫️Kraken announced $200M investment from Deutsche Borse & confidentially filed for IPO
▫️US Justice Department opened claims for victims of $4B OneCoin fraud
▫️Charles Schwab began rollout of spot BTC, ETH trading platform
▫️Data from Blockworks showed ETFs & DATs held a record share of BTC's circulating supply in March, at just under 12%
▫️Coinbase began work with Anthropic to gain access to Mythos as BTC researchers proposed phased sunset of legacy signatures to address quantum risks
▫️Goldman Sachs filed for Bitcoin Premium Income ETF
▫️Drift got $148M funding from Tether as it replaced Circle's USDC with USDT after exploit
▫️Kraken's parent company Payward announced acquisition of Bitnomial derivatives exchange for $550M
▫️EToro acquired crypto wallet startup Zengo in $70M deal
▫️Bitmine acquired 101,627 ETH worth over $233M taking total holdings to 4.976M ETH & $12.9B of crypto + cash
▫️CoW Swap paused protocol amid domain hijacking
▫️Data from Artemis showed In Q1 of 2026, the number of new users on ETH increased by 82% QoQ to 284k
▫️Ether. fi committed $3B in ETH as 'validator liquidity' to ETHGas over 3 years
▫️TVL on AAVE hit 33% of the total DeFi TVL
▫️ETH crossed 200M quarterly transactions for the 1st time
⏫ Bitcoin Weekly High: $78,207
⬇️ Bitcoin Weekly Low: $70,667
⏫ Ethereum Weekly High: $2,455
⬇️ Ethereum Weekly Low: $2,184
April 20th to 26th Upcoming Events
April 20 - ZRO, $41M token unlock 🔓
April 22 - UDS, $37M token unlock 🔓
Aprill 22 - Documentary Film Release: Finding Satoshi 📽
April 25 - H, $11M token unlock 🔓
*Nota Bene
Investor sentiment was bolstered in the week due to seemingly "positive" diplomatic signals from the U.S. & Iran regarding commercial traffic passing through the Strait of Hormuz. As a result, global markets observed a notable rally although the situation remains fluid with reports of renewed closures & vessel reversals.
This tentative optimism propelled BTC to a 4.4% week-over-week gain, with BTC trading near $74,300 at the time of writing. This was supported by robust ETF demand as U.S. BTC ETFs recorded $997M in net inflows while ETH ETFs drew in $276M. Globally, the U.S. dominated once again with Germany recording $28M of inflows, while Switzerland saw $138M of outflows, the largest Swiss outflow since November & and a general outlier in terms of the broader risk sentiment.
Last week also saw the DeFi sector face yet another significant setback following a $292M exploit on a KelpDAO cross-chain bridge. Security breaches of this magnitude underscore the growing risks highlighted by the recent unveiling of Anthropic’s Mythos model & its unprecedented capacity for identifying deep-seated code vulnerabilities.
Looking ahead to next week, market participants should remain cautious as the recent price action may reflect a premature celebration of regional stability in the Middle East; without a definitive end to hostilities. Therefore, the potential for a mean-reversion in crypto prices still remains high as geopolitical realities catch up to current market valuations.
April 13th to 19th Recap
▫️Strategy acquired an additional 13,927 BTC for $1B at $71,902 per BTC
▫️Kelp DAO's rsETH bridge exploited for roughly $292M in LayerZero-based attack
▫️Kraken announced $200M investment from Deutsche Borse & confidentially filed for IPO
▫️US Justice Department opened claims for victims of $4B OneCoin fraud
▫️Charles Schwab began rollout of spot BTC, ETH trading platform
▫️Data from Blockworks showed ETFs & DATs held a record share of BTC's circulating supply in March, at just under 12%
▫️Coinbase began work with Anthropic to gain access to Mythos as BTC researchers proposed phased sunset of legacy signatures to address quantum risks
▫️Goldman Sachs filed for Bitcoin Premium Income ETF
▫️Drift got $148M funding from Tether as it replaced Circle's USDC with USDT after exploit
▫️Kraken's parent company Payward announced acquisition of Bitnomial derivatives exchange for $550M
▫️EToro acquired crypto wallet startup Zengo in $70M deal
▫️Bitmine acquired 101,627 ETH worth over $233M taking total holdings to 4.976M ETH & $12.9B of crypto + cash
▫️CoW Swap paused protocol amid domain hijacking
▫️Data from Artemis showed In Q1 of 2026, the number of new users on ETH increased by 82% QoQ to 284k
▫️Ether. fi committed $3B in ETH as 'validator liquidity' to ETHGas over 3 years
▫️TVL on AAVE hit 33% of the total DeFi TVL
▫️ETH crossed 200M quarterly transactions for the 1st time
⏫ Bitcoin Weekly High: $78,207
⬇️ Bitcoin Weekly Low: $70,667
⏫ Ethereum Weekly High: $2,455
⬇️ Ethereum Weekly Low: $2,184
April 20th to 26th Upcoming Events
April 20 - ZRO, $41M token unlock 🔓
April 22 - UDS, $37M token unlock 🔓
Aprill 22 - Documentary Film Release: Finding Satoshi 📽
April 25 - H, $11M token unlock 🔓
*Nota Bene
Investor sentiment was bolstered in the week due to seemingly "positive" diplomatic signals from the U.S. & Iran regarding commercial traffic passing through the Strait of Hormuz. As a result, global markets observed a notable rally although the situation remains fluid with reports of renewed closures & vessel reversals.
This tentative optimism propelled BTC to a 4.4% week-over-week gain, with BTC trading near $74,300 at the time of writing. This was supported by robust ETF demand as U.S. BTC ETFs recorded $997M in net inflows while ETH ETFs drew in $276M. Globally, the U.S. dominated once again with Germany recording $28M of inflows, while Switzerland saw $138M of outflows, the largest Swiss outflow since November & and a general outlier in terms of the broader risk sentiment.
Last week also saw the DeFi sector face yet another significant setback following a $292M exploit on a KelpDAO cross-chain bridge. Security breaches of this magnitude underscore the growing risks highlighted by the recent unveiling of Anthropic’s Mythos model & its unprecedented capacity for identifying deep-seated code vulnerabilities.
Looking ahead to next week, market participants should remain cautious as the recent price action may reflect a premature celebration of regional stability in the Middle East; without a definitive end to hostilities. Therefore, the potential for a mean-reversion in crypto prices still remains high as geopolitical realities catch up to current market valuations.
April Weekly Update #4
April 20th to 26th Recap
▫️Strategy acquired an additional 34,164 BTC for $2.54B at $74,395 per BTC
▫️Tether froze over $344M in USDT in coordination with OFAC and U.S. law enforcement
▫️New York sued Coinbase, Gemini Titan, calling their prediction markets illegal gambling
▫️Russia passed crypto bill in first reading; permitting use in foreign trade settlements
▫️STRC revealed to have bought 10X more BTC (77K) than all ETFs so far in 2026
▫️Data showed, in Q1, leading on-chain businesses generated $587.9M in revenue, with revenue concentrated among trading platforms & stablecoin issuers, such as HYPE & SKY
▫️Tron's Justin Sun sued Trump-linked World Liberty Financial over frozen assets
▫️Polymarket announced perpetual futures
▫️DoorDash announced stablecoin payouts via Tempo
▫️Bitmine announced intention to buy 10,000 ETH for $23.9M from the Ethereum Foundation
▫️Bitmine acquired 101,901 ETH worth over $241M taking total holdings to 5.078M ETH & $13.3B of crypto + cash
▫️Sky's USDS overtook Ethena's USDe in market cap & Sky is the 3rd biggest stablecoin issuer behind Tether & Circle
▫️Arbitrum froze $71M worth of ETH stolen in Kelp DAO exploit
▫️Mantle proposed up to 30,000 ETH loan to address Aave bad debt from Kelp exploit
▫️Aave proposed 25,000 ETH contribution to DeFi United to plug Kelp DAO exploit hole
▫️Lido proposed allocating up to $5.8M in staked ETH to back Kelp exploit shortfall
⏫ Bitcoin Weekly High: $79,273
⬇️ Bitcoin Weekly Low: $73,854
⏫ Ethereum Weekly High: $2,415
⬇️ Ethereum Weekly Low: $2,265
April 27th to May 3rd Upcoming Events
April 29 -US inflation announcement 🇺🇸
May 1 - SUI, $40M token unlock 🔓
*Nota Bene
The crypto market maintained its robust upward momentum this past week, with BTC consolidating within the $77k-$79k range & closing approximately 6.5% higher week-over-week.
This resilience was particularly notable given the persistent geopolitical friction surrounding the U.S.-Iran conflict, though market sentiment was bolstered by the 3 week extension of the Israel-Lebanon ceasefire.
U.S. BTC ETFs recorded their 3rd consecutive week of positive flows with $824M in fresh capital, while ETH ETFs drew in $155M. The positive sentiment spread globally as Germany saw $61.7M worth of inflows, more than double the prior week, Switzerland saw $35.2M of inflows, while Canada recorded $15m.
Looking ahead, while Middle East developments will continue to influence market movements, the focus shifts to a pivotal earnings week for "Magnificent Seven" leaders including Apple, Amazon, Google, & Microsoft as the tightening correlation between crypto markets & traditional equities, 0.9 over the last 20 days, suggests these results will serve as a critical barometer for broader market direction.
April 20th to 26th Recap
▫️Strategy acquired an additional 34,164 BTC for $2.54B at $74,395 per BTC
▫️Tether froze over $344M in USDT in coordination with OFAC and U.S. law enforcement
▫️New York sued Coinbase, Gemini Titan, calling their prediction markets illegal gambling
▫️Russia passed crypto bill in first reading; permitting use in foreign trade settlements
▫️STRC revealed to have bought 10X more BTC (77K) than all ETFs so far in 2026
▫️Data showed, in Q1, leading on-chain businesses generated $587.9M in revenue, with revenue concentrated among trading platforms & stablecoin issuers, such as HYPE & SKY
▫️Tron's Justin Sun sued Trump-linked World Liberty Financial over frozen assets
▫️Polymarket announced perpetual futures
▫️DoorDash announced stablecoin payouts via Tempo
▫️Bitmine announced intention to buy 10,000 ETH for $23.9M from the Ethereum Foundation
▫️Bitmine acquired 101,901 ETH worth over $241M taking total holdings to 5.078M ETH & $13.3B of crypto + cash
▫️Sky's USDS overtook Ethena's USDe in market cap & Sky is the 3rd biggest stablecoin issuer behind Tether & Circle
▫️Arbitrum froze $71M worth of ETH stolen in Kelp DAO exploit
▫️Mantle proposed up to 30,000 ETH loan to address Aave bad debt from Kelp exploit
▫️Aave proposed 25,000 ETH contribution to DeFi United to plug Kelp DAO exploit hole
▫️Lido proposed allocating up to $5.8M in staked ETH to back Kelp exploit shortfall
⏫ Bitcoin Weekly High: $79,273
⬇️ Bitcoin Weekly Low: $73,854
⏫ Ethereum Weekly High: $2,415
⬇️ Ethereum Weekly Low: $2,265
April 27th to May 3rd Upcoming Events
April 29 -US inflation announcement 🇺🇸
May 1 - SUI, $40M token unlock 🔓
*Nota Bene
The crypto market maintained its robust upward momentum this past week, with BTC consolidating within the $77k-$79k range & closing approximately 6.5% higher week-over-week.
This resilience was particularly notable given the persistent geopolitical friction surrounding the U.S.-Iran conflict, though market sentiment was bolstered by the 3 week extension of the Israel-Lebanon ceasefire.
U.S. BTC ETFs recorded their 3rd consecutive week of positive flows with $824M in fresh capital, while ETH ETFs drew in $155M. The positive sentiment spread globally as Germany saw $61.7M worth of inflows, more than double the prior week, Switzerland saw $35.2M of inflows, while Canada recorded $15m.
Looking ahead, while Middle East developments will continue to influence market movements, the focus shifts to a pivotal earnings week for "Magnificent Seven" leaders including Apple, Amazon, Google, & Microsoft as the tightening correlation between crypto markets & traditional equities, 0.9 over the last 20 days, suggests these results will serve as a critical barometer for broader market direction.
May Weekly Update #1
April 27th to May 3rd Recap
▫️Strategy acquired an additional 3,273 BTC for $255M at $77,906 per BTC
▫️Tether posted $1.04B Q1 2026 profit as reserve buffer hit record $8.23B
▫️BTC's correlation to U.S. equities (0.6) began rising towards levels last seen in 2023, suggesting a renewed coupling with broader risk markets
▫️Meta launched stablecoin payouts for creators using Stripe
▫️Western Union announced plan to launch stablecoin next month, alongside 'Stable Card' for global consumers
▫️Goldman Sachs reported that ~90–95% of the decline in prices / volume has already been seen comparing to past cycles
▫️Bloomberg analysis revealed that most Polymarket users are losing money to a small group of potentially automated bots, with over 100K accounts losing at least $1,000 since early 2025
▫️Sam Bankman-Fried’s motion for new trial was rejected by US judge
▫️MoonPay acquired crypto security startup Sodot for $100M in an all-stock deal
▫️Crypto onboarding startup Fun raised $72M in Series A round led by Multicoin Capital & SignalFire
▫️Solana Ventures led $18M round in Squads to scale its stablecoin platform Altitude
▫️Tether led Belo's $14M raise to expand stablecoin payments across Latin America
▫️Bitmine acquired 101,745 ETH worth over $237M taking total holdings to 5.18M ETH & $13.1B of crypto + cash
▫️Data from GSR Research showed that B2B payments account for the largest share at approximately $226B annually, or about 60% of total stablecoin payment volume
▫️Data from Token Terminal showed that Yield-bearing assets account for ~10% of the stablecoin market
▫️LayerZero committed 10,000 ETH to DeFi United effort
▫️SOL's quarterly transactions surpassed 10B for the 1st time
▫️Data from Dune showed that about $2.7B in RWA tokens are actively deposited across DeFi lending markets; around 10% of the $27B in tokenized AUM
▫️Ethereum Foundation's recent ETH sales to Tom Lee's Bitmine hit $47M after latest 10k ETH deal
⏫ Bitcoin Weekly High: $78,686
⬇️ Bitcoin Weekly Low: $75,432
⏫ Ethereum Weekly High: $2,333
⬇️ Ethereum Weekly Low: $2,234
May 4th to 10th Upcoming Events
May 5 - ENA, $17M token unlock 🔓
May 6 - HYPE, $18M token unlock🔓
*Nota Bene
The crypto market maintained a period of range-bound trading this past week, as BTC closed out just shy of the $80k mark. The broader sentiment remained cautious as geopolitical tensions continue to weigh on global markets.
This specifically applies to the lack of positive breakthroughs on the U.S.-Iran front after President Trump confirmed the continuation of the blockade in the Strait of Hormuz, citing an unsatisfactory peace proposal from Iran.
Despite some selling pressure in the latter half of the week, institutional demand showed resilience as U.S. BTC ETFs recorded another week of positive net flows totaling $163M, while ETH ETFs saw a contraction worth $83M. Globally, Germany saw $43.8M of inflows, while Canada saw $16.0m. Switzerland lagged behind somewhat with $5.2M worth of inflows.
Looking ahead, with the primary catalysts of AI-fueled corporate earnings now largely settled & both the Nasdaq & S&P 500 sitting at all-time highs, monitoring for potential profit-taking in equities could be prudent, which could put pressure on crypto markets given their status as & ongoing high correlation with other risk assets.
April 27th to May 3rd Recap
▫️Strategy acquired an additional 3,273 BTC for $255M at $77,906 per BTC
▫️Tether posted $1.04B Q1 2026 profit as reserve buffer hit record $8.23B
▫️BTC's correlation to U.S. equities (0.6) began rising towards levels last seen in 2023, suggesting a renewed coupling with broader risk markets
▫️Meta launched stablecoin payouts for creators using Stripe
▫️Western Union announced plan to launch stablecoin next month, alongside 'Stable Card' for global consumers
▫️Goldman Sachs reported that ~90–95% of the decline in prices / volume has already been seen comparing to past cycles
▫️Bloomberg analysis revealed that most Polymarket users are losing money to a small group of potentially automated bots, with over 100K accounts losing at least $1,000 since early 2025
▫️Sam Bankman-Fried’s motion for new trial was rejected by US judge
▫️MoonPay acquired crypto security startup Sodot for $100M in an all-stock deal
▫️Crypto onboarding startup Fun raised $72M in Series A round led by Multicoin Capital & SignalFire
▫️Solana Ventures led $18M round in Squads to scale its stablecoin platform Altitude
▫️Tether led Belo's $14M raise to expand stablecoin payments across Latin America
▫️Bitmine acquired 101,745 ETH worth over $237M taking total holdings to 5.18M ETH & $13.1B of crypto + cash
▫️Data from GSR Research showed that B2B payments account for the largest share at approximately $226B annually, or about 60% of total stablecoin payment volume
▫️Data from Token Terminal showed that Yield-bearing assets account for ~10% of the stablecoin market
▫️LayerZero committed 10,000 ETH to DeFi United effort
▫️SOL's quarterly transactions surpassed 10B for the 1st time
▫️Data from Dune showed that about $2.7B in RWA tokens are actively deposited across DeFi lending markets; around 10% of the $27B in tokenized AUM
▫️Ethereum Foundation's recent ETH sales to Tom Lee's Bitmine hit $47M after latest 10k ETH deal
⏫ Bitcoin Weekly High: $78,686
⬇️ Bitcoin Weekly Low: $75,432
⏫ Ethereum Weekly High: $2,333
⬇️ Ethereum Weekly Low: $2,234
May 4th to 10th Upcoming Events
May 5 - ENA, $17M token unlock 🔓
May 6 - HYPE, $18M token unlock🔓
*Nota Bene
The crypto market maintained a period of range-bound trading this past week, as BTC closed out just shy of the $80k mark. The broader sentiment remained cautious as geopolitical tensions continue to weigh on global markets.
This specifically applies to the lack of positive breakthroughs on the U.S.-Iran front after President Trump confirmed the continuation of the blockade in the Strait of Hormuz, citing an unsatisfactory peace proposal from Iran.
Despite some selling pressure in the latter half of the week, institutional demand showed resilience as U.S. BTC ETFs recorded another week of positive net flows totaling $163M, while ETH ETFs saw a contraction worth $83M. Globally, Germany saw $43.8M of inflows, while Canada saw $16.0m. Switzerland lagged behind somewhat with $5.2M worth of inflows.
Looking ahead, with the primary catalysts of AI-fueled corporate earnings now largely settled & both the Nasdaq & S&P 500 sitting at all-time highs, monitoring for potential profit-taking in equities could be prudent, which could put pressure on crypto markets given their status as & ongoing high correlation with other risk assets.
May Weekly Update #2
May 4th to 10th Recap
▫️Strategy signalled potential BTC sale to fund dividends obligation
▫️Wall Street giant DTCC announced plans for tokenized securities platform with July pilot, October launch
▫️CME Group announced crypto futures & 24/7 trading will start May 29 & the BTC Volatility Futures Contracts launch
▫️Crypto exchange Bullish struck $4.2B deal for global transfer agent Equiniti in tokenization push
▫️Sequans sold 1,025 BTC to fund debt redemption & buybacks as revenue drops 24.8%
▫️Prediction markets grew to the 4th largest category in crypto by revenue, generating $25.1M in the last 30 days
▫️Google Cloud, Solana Foundation rolled out new pay-as-you-go system for AI agents
▫️a16z crypto raised $2.2B for 5th fund, promotes CTO to general partner
▫️Crypto investor Haun raised $1B for new funds, expands to AI agents
▫️Kraken acquired Reap, Asian based stablecoin infrastructure company, for $600M
▫️MoonPay acquired SOL trading infrastructure platform DFlow in $100M all-stock deal
▫️Bitmine slowed ETH acquisitions as total holdings hit 5.21M ETH & $13.4B of crypto + cash
▫️Data from Artemis showed that the supply of Coinbase wrapped BTC continues to trend higher, sitting at 90k BTC; representing 30% of the market
▫️Data from Token Terminal showed that stablecoin holder growth has been ~3× higher than governance token holder growth over the past 5 years
▫️Hyperliquid Strategies posted $165M net loss for 9 months ended March 31 as HYPE treasury grows
▫️Arbitrum DAO approved $70M ETH release for Kelp DAO recovery
▫️Data from ARK Invest showed that total network REV declined ~34% quarter-over-quarter to ~$307M, the lowest since 2022
▫️Data from Token Terminal showed the market cap of tokenized U.S. Treasuries on ETH approached $8B, hitting a new ATH
▫️Data from DeFillama showed ETH's market share of DeFi TVL has fallen below 54%, the lowest level since May 2025
⏫ Bitcoin Weekly High: $82,660
⬇️ Bitcoin Weekly Low: $79,315
⏫ Ethereum Weekly High: $2,416
⬇️ Ethereum Weekly Low: $2,269
May 11th to 17th Upcoming Events
May 12 - US inflation announcement 🇺🇸
May 12 - AVAX, $17M token unlock🔓
May 15 - CONX, $18M token unlock🔓
May 16 - ARB, $13M token unlock🔓
*Nota Bene
Last week proved to be productive for both crypto & traditional US equities. This was highlighted by BTC trading at $81,400 up 3.3% WoW at the time of writing, while the S&P 500 & Nasdaq both hit new all-time highs. This positive momentum was bolstered in part by geopolitical developments, as the market monitored the response to the US peace proposal presented to Iran.
Institutional interest remained robust, with US BTC ETFs & ETH ETFs netting $631M and $70M in weekly inflows, respectively. Globally, Germany & Switzerland saw the most significant inflows worth $50.6M & $21.1M respectively.
Looking forward, even as crypto markets remain below their own historic peaks, potential profit-taking in the equities space could trigger broader market spillover resulting in heightened volatility in the week ahead.
Lastly, the US Senate Banking Committee will meet on May 14 to discuss the latest CLARITY Act mark-up which should be followed closely as news around regulatory clarity has historically triggered market activity.
May 4th to 10th Recap
▫️Strategy signalled potential BTC sale to fund dividends obligation
▫️Wall Street giant DTCC announced plans for tokenized securities platform with July pilot, October launch
▫️CME Group announced crypto futures & 24/7 trading will start May 29 & the BTC Volatility Futures Contracts launch
▫️Crypto exchange Bullish struck $4.2B deal for global transfer agent Equiniti in tokenization push
▫️Sequans sold 1,025 BTC to fund debt redemption & buybacks as revenue drops 24.8%
▫️Prediction markets grew to the 4th largest category in crypto by revenue, generating $25.1M in the last 30 days
▫️Google Cloud, Solana Foundation rolled out new pay-as-you-go system for AI agents
▫️a16z crypto raised $2.2B for 5th fund, promotes CTO to general partner
▫️Crypto investor Haun raised $1B for new funds, expands to AI agents
▫️Kraken acquired Reap, Asian based stablecoin infrastructure company, for $600M
▫️MoonPay acquired SOL trading infrastructure platform DFlow in $100M all-stock deal
▫️Bitmine slowed ETH acquisitions as total holdings hit 5.21M ETH & $13.4B of crypto + cash
▫️Data from Artemis showed that the supply of Coinbase wrapped BTC continues to trend higher, sitting at 90k BTC; representing 30% of the market
▫️Data from Token Terminal showed that stablecoin holder growth has been ~3× higher than governance token holder growth over the past 5 years
▫️Hyperliquid Strategies posted $165M net loss for 9 months ended March 31 as HYPE treasury grows
▫️Arbitrum DAO approved $70M ETH release for Kelp DAO recovery
▫️Data from ARK Invest showed that total network REV declined ~34% quarter-over-quarter to ~$307M, the lowest since 2022
▫️Data from Token Terminal showed the market cap of tokenized U.S. Treasuries on ETH approached $8B, hitting a new ATH
▫️Data from DeFillama showed ETH's market share of DeFi TVL has fallen below 54%, the lowest level since May 2025
⏫ Bitcoin Weekly High: $82,660
⬇️ Bitcoin Weekly Low: $79,315
⏫ Ethereum Weekly High: $2,416
⬇️ Ethereum Weekly Low: $2,269
May 11th to 17th Upcoming Events
May 12 - US inflation announcement 🇺🇸
May 12 - AVAX, $17M token unlock🔓
May 15 - CONX, $18M token unlock🔓
May 16 - ARB, $13M token unlock🔓
*Nota Bene
Last week proved to be productive for both crypto & traditional US equities. This was highlighted by BTC trading at $81,400 up 3.3% WoW at the time of writing, while the S&P 500 & Nasdaq both hit new all-time highs. This positive momentum was bolstered in part by geopolitical developments, as the market monitored the response to the US peace proposal presented to Iran.
Institutional interest remained robust, with US BTC ETFs & ETH ETFs netting $631M and $70M in weekly inflows, respectively. Globally, Germany & Switzerland saw the most significant inflows worth $50.6M & $21.1M respectively.
Looking forward, even as crypto markets remain below their own historic peaks, potential profit-taking in the equities space could trigger broader market spillover resulting in heightened volatility in the week ahead.
Lastly, the US Senate Banking Committee will meet on May 14 to discuss the latest CLARITY Act mark-up which should be followed closely as news around regulatory clarity has historically triggered market activity.
May Weekly Update #3
May 11th to 17th Recap
▫️Strategy acquired an additional 535 BTC for $43M at $80,340 per BTC
▫️Digital Asset Market Clarity Act passed the Senate Banking Committee with bipartisan support
▫️CME Group announced launch of Nasdaq CME Crypto Index futures
▫️Strategy announced intention to repurchase $1.5B of 2029 convertible bonds using cash or BTC sales
▫️Data from Glassnode showed if $60k holds as the BTC cycle low, this bear market will be the shallowest on record
▫️Charles Schwab launched spot BTC, ETH trading to select retail clients
▫️CFTC issued blanket no-action letter on prediction markets, relieving swap data reporting duties
▫️JPMorgan announced launch of tokenized money market fund on ETH
▫️BlackRock, Janus Henderson tokenized funds added instant redemptions with new $1B facility
▫️Hana Bank bought $670M stake in Upbit exchange operator Dunamu
▫️Circle raised $222M from a16z Crypto, Apollo, ARK Invest, & BlackRock in ARC token presale valued at $3B
▫️Deutsche Bank, Nasdaq Ventures back crypto firm Elliptic in $120M round
▫️Gemini secured $100M strategic investment from Winklevoss Capital
▫️Telecom giant KDDI announced plan to acquire 14.9% stake in Coincheck Group in $65M deal
▫️Bitmine acquired 71,672 ETH worth over $157M taking total holdings to 5.28M ETH & $12.6B of crypto + cash
▫️Data from Dune Analytics showed that in April 2026, Polymarket's monthly trading volume dropped 9% to $10.3B, while Kalshi’s volume grew by about 13%, hitting $14.8B
▫️Data from The Block showed that SOL & ETH have reached near parity with roughly $45B in monthly DEX volume each
▫️Ethereum Foundation rolled out support for Clear Signing crypto security solution
⏫ Bitcoin Weekly High: $82,015
⬇️ Bitcoin Weekly Low: $77,763
⏫ Ethereum Weekly High: $2,369
⬇️ Ethereum Weekly Low: $2,168
May 18th to 24th Upcoming Events
May 19 - PYTH, $88M token unlock🔓
May 20 - ZRO, $33M token unlock🔓
May 20 - NVIDIA Earnings Report 📊
*Nota Bene
The last 7 days were a down week for crypto markets & global equities as geopolitical uncertainty alongside its inflationary impact on oil & food prices continued to weigh on investor sentiment.
BTC ended the week down 4.2%, trading at $78k at the time of writing. This pullback was also reflected in US ETF flows, as BTC funds saw an outflow of $995M while ETH funds lost $255M. Following the unexpected rally over the past 4 weeks, this consolidation may simply indicate investors taking profits. This is further supported by global flows as Switzerland recorded $22.8M of inflows, Germany $22.0M, while Canada saw $12.6M.
On the regulatory front, the headline of the week emerged as the market structure bill known as the CLARITY Act advanced through the Senate Banking Committee with bipartisan support. This was following months of debate between elected officials, the banking lobby, & the crypto industry over critical provisions, such as whether rewards should be permissible on stablecoins.
Looking to the week ahead, expect market volatility as investors closely monitor upcoming NVIDIA earnings, as the subsequent price action will likely both influence and bleed into crypto markets.
May 11th to 17th Recap
▫️Strategy acquired an additional 535 BTC for $43M at $80,340 per BTC
▫️Digital Asset Market Clarity Act passed the Senate Banking Committee with bipartisan support
▫️CME Group announced launch of Nasdaq CME Crypto Index futures
▫️Strategy announced intention to repurchase $1.5B of 2029 convertible bonds using cash or BTC sales
▫️Data from Glassnode showed if $60k holds as the BTC cycle low, this bear market will be the shallowest on record
▫️Charles Schwab launched spot BTC, ETH trading to select retail clients
▫️CFTC issued blanket no-action letter on prediction markets, relieving swap data reporting duties
▫️JPMorgan announced launch of tokenized money market fund on ETH
▫️BlackRock, Janus Henderson tokenized funds added instant redemptions with new $1B facility
▫️Hana Bank bought $670M stake in Upbit exchange operator Dunamu
▫️Circle raised $222M from a16z Crypto, Apollo, ARK Invest, & BlackRock in ARC token presale valued at $3B
▫️Deutsche Bank, Nasdaq Ventures back crypto firm Elliptic in $120M round
▫️Gemini secured $100M strategic investment from Winklevoss Capital
▫️Telecom giant KDDI announced plan to acquire 14.9% stake in Coincheck Group in $65M deal
▫️Bitmine acquired 71,672 ETH worth over $157M taking total holdings to 5.28M ETH & $12.6B of crypto + cash
▫️Data from Dune Analytics showed that in April 2026, Polymarket's monthly trading volume dropped 9% to $10.3B, while Kalshi’s volume grew by about 13%, hitting $14.8B
▫️Data from The Block showed that SOL & ETH have reached near parity with roughly $45B in monthly DEX volume each
▫️Ethereum Foundation rolled out support for Clear Signing crypto security solution
⏫ Bitcoin Weekly High: $82,015
⬇️ Bitcoin Weekly Low: $77,763
⏫ Ethereum Weekly High: $2,369
⬇️ Ethereum Weekly Low: $2,168
May 18th to 24th Upcoming Events
May 19 - PYTH, $88M token unlock🔓
May 20 - ZRO, $33M token unlock🔓
May 20 - NVIDIA Earnings Report 📊
*Nota Bene
The last 7 days were a down week for crypto markets & global equities as geopolitical uncertainty alongside its inflationary impact on oil & food prices continued to weigh on investor sentiment.
BTC ended the week down 4.2%, trading at $78k at the time of writing. This pullback was also reflected in US ETF flows, as BTC funds saw an outflow of $995M while ETH funds lost $255M. Following the unexpected rally over the past 4 weeks, this consolidation may simply indicate investors taking profits. This is further supported by global flows as Switzerland recorded $22.8M of inflows, Germany $22.0M, while Canada saw $12.6M.
On the regulatory front, the headline of the week emerged as the market structure bill known as the CLARITY Act advanced through the Senate Banking Committee with bipartisan support. This was following months of debate between elected officials, the banking lobby, & the crypto industry over critical provisions, such as whether rewards should be permissible on stablecoins.
Looking to the week ahead, expect market volatility as investors closely monitor upcoming NVIDIA earnings, as the subsequent price action will likely both influence and bleed into crypto markets.
May Weekly Update #4
May 18h to 24th Recap
▫️Strategy acquired an additional 24,869 BTC for $2.01B at $80,985 per BTC
▫️South Carolina Governor signed pro-crypto, anti-CBDC bill into law
▫️Elon Musk’s SpaceX revealed to hold $1.45B worth of BTC as firm looks to go public
▫️Minnesotan banks& credit unions set to provide crypto custody from August 1
▫️Iran started BTC backed shipping insurance for Hormuz Strait
▫️New strategic BTC reserve bill included 1M BTC purchase target, & 20-year lockup period
▫️Data from a16z Crypto showed 63% of stablecoin payments volume originates from Asia, primarily Singapore, Hong Kong, & Japan. Followed by North America (24%), & Europe (13%).
▫️SEC approved Nasdaq BTC Index options
▫️Data from Binance Research showed that distributed tokenized RWA value hit $31.4B in May 2026, up 5x from the start of 2025
▫️ARB based derivatives startup Variational raised $50M Series A funding
▫️Catena Labs closed $30M Series A, filed for national trust bank charter to underpin agentic finance
▫️Bitmine acquired 111,942 ETH worth over $238M taking total holdings to 5.39M ETH & $12.3B of crypto + cash
▫️Data from Artemis showed that In Q1 2026, the average amount of USDC held in Coinbase products reached an ATH of $19B
▫️Data from The Block showed that HYPE dominates the current fee market with a 43% share ($11M/week), outperforming ETH's 13% ($3M) & SOL's 10% ($2M)
▫️Data from Messari showed that Railgun has hit no.1 among privacy protocols with $4.7M in annualized fees
▫️Vitalik outlined Ethereum Foundation becoming a 'smaller ship,' & selling less ETH amid researcher exodus
⏫ Bitcoin Weekly High: $78,358
⬇️ Bitcoin Weekly Low: $74,290
⏫ Ethereum Weekly High: $2,177
⬇️ Ethereum Weekly Low: $2,020
May 25th to 31st Upcoming Events
May 26 - HUMA, $12M token unlock🔓
*Nota Bene
Crypto markets experienced a largely flat week, as the positive sentiment surrounding the Iran peace deal was balanced out by a lack of specific industry catalysts.
BTC concluded the period 0.7% higher, hovering around the $77,300 mark, demonstrating resilience despite a second consecutive week of significant US ETF outflows.
US BTC & ETH funds lost $1.26B & $216M respectively. These fund outflows on the BTC side were entirely offset by Strategy alone, as the Saylor-led firm purchased a mammoth $2B in BTC. However, the sell-off spread beyond the US as Switzerland saw $16.2M of outflows, Canada $12.5M, Hong Kong $12.2M, while Germany saw $4.4M worth of outflows.
Looking ahead, we anticipate continued sideways movement during an upcoming shortened US trading week, with geopolitical developments remaining a primary potential catalyst for market action in either direction.
May 18h to 24th Recap
▫️Strategy acquired an additional 24,869 BTC for $2.01B at $80,985 per BTC
▫️South Carolina Governor signed pro-crypto, anti-CBDC bill into law
▫️Elon Musk’s SpaceX revealed to hold $1.45B worth of BTC as firm looks to go public
▫️Minnesotan banks& credit unions set to provide crypto custody from August 1
▫️Iran started BTC backed shipping insurance for Hormuz Strait
▫️New strategic BTC reserve bill included 1M BTC purchase target, & 20-year lockup period
▫️Data from a16z Crypto showed 63% of stablecoin payments volume originates from Asia, primarily Singapore, Hong Kong, & Japan. Followed by North America (24%), & Europe (13%).
▫️SEC approved Nasdaq BTC Index options
▫️Data from Binance Research showed that distributed tokenized RWA value hit $31.4B in May 2026, up 5x from the start of 2025
▫️ARB based derivatives startup Variational raised $50M Series A funding
▫️Catena Labs closed $30M Series A, filed for national trust bank charter to underpin agentic finance
▫️Bitmine acquired 111,942 ETH worth over $238M taking total holdings to 5.39M ETH & $12.3B of crypto + cash
▫️Data from Artemis showed that In Q1 2026, the average amount of USDC held in Coinbase products reached an ATH of $19B
▫️Data from The Block showed that HYPE dominates the current fee market with a 43% share ($11M/week), outperforming ETH's 13% ($3M) & SOL's 10% ($2M)
▫️Data from Messari showed that Railgun has hit no.1 among privacy protocols with $4.7M in annualized fees
▫️Vitalik outlined Ethereum Foundation becoming a 'smaller ship,' & selling less ETH amid researcher exodus
⏫ Bitcoin Weekly High: $78,358
⬇️ Bitcoin Weekly Low: $74,290
⏫ Ethereum Weekly High: $2,177
⬇️ Ethereum Weekly Low: $2,020
May 25th to 31st Upcoming Events
May 26 - HUMA, $12M token unlock🔓
*Nota Bene
Crypto markets experienced a largely flat week, as the positive sentiment surrounding the Iran peace deal was balanced out by a lack of specific industry catalysts.
BTC concluded the period 0.7% higher, hovering around the $77,300 mark, demonstrating resilience despite a second consecutive week of significant US ETF outflows.
US BTC & ETH funds lost $1.26B & $216M respectively. These fund outflows on the BTC side were entirely offset by Strategy alone, as the Saylor-led firm purchased a mammoth $2B in BTC. However, the sell-off spread beyond the US as Switzerland saw $16.2M of outflows, Canada $12.5M, Hong Kong $12.2M, while Germany saw $4.4M worth of outflows.
Looking ahead, we anticipate continued sideways movement during an upcoming shortened US trading week, with geopolitical developments remaining a primary potential catalyst for market action in either direction.
May Weekly Update #5
May 25th to 31st Recap
▫️Strategy completed repurchase of $1.5B of its 2029 Convertible Notes
▫️U.S. Treasury Secretary Scott Bessent stated The U.S. has seized up to $1B of Iran's crypto assets
▫️Polymarket began exploring user KYC as it faces sanctions, legal risks
▫️Tether & the Government of Georgia announced GEL₮, the official stablecoin of Georgia
▫️Data from Kaiko showed that spot volume for the top 10 assets averaged $80B weekly across 2026, less than half 2025's $178B weekly average
▫️Sequans completed BTC treasury unwind, reducing BTC holdings from 3k to 658, refocuses on IoT semiconductors
▫️Data from Binance Research showed institutional entities hold approximately 3.88M BTC, which represents 18.5% of the 21M hard cap, followed by public companies 1.24M BTC (5.9%), ETFs 1.32M BTC (6.3%), & governments 650K BTC (3.1%)
▫️Mastercard secured New York BitLicense to support stablecoin & digital payment infrastructure
▫️Paxos secured SEC registration as clearing & settlement agency
▫️Samsung units to acquire $408M stake in Upbit operator Dunamu
▫️Grayscale delayed IPO plans citing unfavorable market conditions
▫️Data from a16z crypto showed that only 5% of the $15.2B tokenized bond sector is active in DeFi, while reinsurance has hit 84% utilization
▫️Data from Messari showed that Uniswap & Circle generated 57% of OP Stack’s GDP in Q1 2026
▫️Hyperliquid rolled out validator-governed prediction markets for real-world events
⏫ Bitcoin Weekly High: $77,665
⬇️ Bitcoin Weekly Low: $72,532
⏫ Ethereum Weekly High: $2,134
⬇️ Ethereum Weekly Low: $1,974
June 1st to 7th Upcoming Events
June 1 -7 - NYC Tech Week
June 5 - US unemployment announcement 🇺🇸
June 5 - ENA, $16 .5M token unlock🔓
June 6 - HYPE, $39M token unlock🔓
*Nota Bene
Crypto markets experienced a downturn over the past week, presenting a notable divergence from traditional equity markets. Progress towards a potential US-Iran deal helped fuel the rally whilst also pulling oil prices below $90. BTC is hovering around the $72,100 mark at the time of writing, down 7% week-over-week on the back of significant institutional contraction.
US ETFs saw $1.42B in net outflows despite having only 4 trading days, while ETH ETFs shed $241.6M. The sell offs were also reflected on global markets as Germany saw $25.7M of outflows, followed by Sweden $6.6M & Hong Kong $4.5M.
Despite the overarching negative sentiment, select assets demonstrated resilience, HYPE continued its strong performance fueled by trading profits accruing to token holders, while Stellar posted a remarkable 73% WoW gain after the US clearing giant DTCC selected it as the compliance-focused public blockchain for tokenized securities settlement.
Looking forward to next week, the market lacks major crypto-specific catalysts, & with technical analysis indicating that BTC is currently oversold, a move in either direction remains entirely possible.
May 25th to 31st Recap
▫️Strategy completed repurchase of $1.5B of its 2029 Convertible Notes
▫️U.S. Treasury Secretary Scott Bessent stated The U.S. has seized up to $1B of Iran's crypto assets
▫️Polymarket began exploring user KYC as it faces sanctions, legal risks
▫️Tether & the Government of Georgia announced GEL₮, the official stablecoin of Georgia
▫️Data from Kaiko showed that spot volume for the top 10 assets averaged $80B weekly across 2026, less than half 2025's $178B weekly average
▫️Sequans completed BTC treasury unwind, reducing BTC holdings from 3k to 658, refocuses on IoT semiconductors
▫️Data from Binance Research showed institutional entities hold approximately 3.88M BTC, which represents 18.5% of the 21M hard cap, followed by public companies 1.24M BTC (5.9%), ETFs 1.32M BTC (6.3%), & governments 650K BTC (3.1%)
▫️Mastercard secured New York BitLicense to support stablecoin & digital payment infrastructure
▫️Paxos secured SEC registration as clearing & settlement agency
▫️Samsung units to acquire $408M stake in Upbit operator Dunamu
▫️Grayscale delayed IPO plans citing unfavorable market conditions
▫️Data from a16z crypto showed that only 5% of the $15.2B tokenized bond sector is active in DeFi, while reinsurance has hit 84% utilization
▫️Data from Messari showed that Uniswap & Circle generated 57% of OP Stack’s GDP in Q1 2026
▫️Hyperliquid rolled out validator-governed prediction markets for real-world events
⏫ Bitcoin Weekly High: $77,665
⬇️ Bitcoin Weekly Low: $72,532
⏫ Ethereum Weekly High: $2,134
⬇️ Ethereum Weekly Low: $1,974
June 1st to 7th Upcoming Events
June 1 -7 - NYC Tech Week
June 5 - US unemployment announcement 🇺🇸
June 5 - ENA, $16 .5M token unlock🔓
June 6 - HYPE, $39M token unlock🔓
*Nota Bene
Crypto markets experienced a downturn over the past week, presenting a notable divergence from traditional equity markets. Progress towards a potential US-Iran deal helped fuel the rally whilst also pulling oil prices below $90. BTC is hovering around the $72,100 mark at the time of writing, down 7% week-over-week on the back of significant institutional contraction.
US ETFs saw $1.42B in net outflows despite having only 4 trading days, while ETH ETFs shed $241.6M. The sell offs were also reflected on global markets as Germany saw $25.7M of outflows, followed by Sweden $6.6M & Hong Kong $4.5M.
Despite the overarching negative sentiment, select assets demonstrated resilience, HYPE continued its strong performance fueled by trading profits accruing to token holders, while Stellar posted a remarkable 73% WoW gain after the US clearing giant DTCC selected it as the compliance-focused public blockchain for tokenized securities settlement.
Looking forward to next week, the market lacks major crypto-specific catalysts, & with technical analysis indicating that BTC is currently oversold, a move in either direction remains entirely possible.
June Weekly Update #1
June 1st to 7th Recap
▫️Strategy sold 32 BTC for $2.5M as total holdings dropped to 843,706 BTC
▫️The US sanctioned Nobitex & other Iranian crypto exchanges under 'Economic Fury' campaign
▫️Mt. Gox moved $739M worth of BTC to 2 addresses according to Arkham
▫️Grayscale launched its HYPG Hyperliquid ETF on Nasdaq
▫️Security researcher found Zcash vulnerability allowing 'unlimited' counterfeit minting; ZEC dropped 31%
▫️Data from DeFiLlama showed that DATs saw $2.19B in inflows in May, with BTC accounting for almost all the total
▫️Strive bought 2,500 BTC for $185.2M at $74K average price
▫️Bitmine filed for preferred stock offering, proposing a yield of 9.5%
▫️Securitize cleared SEC registration statement hurdle, setting path to NYSE listing as SECZ
▫️Variant raised $222M for new fund with a thesis of AI, crypto & ‘autonomy’
▫️Robinhood closed $180M WonderFi acquisition, entering Canadian crypto market
▫️Bitmine acquired 126,971 ETH worth over $206M taking total holdings to 5.54M ETH & $9.6B of crypto + cash
▫️Radiant Capital began winding down after failing to recover from $50M hack
▫️Data from Bloomberg showed that Just 9 wallets control 50% of all UMA tokens used for disputed bets on Polymarket
▫️Data from Coingecko showed that the average monthly trading vol of Perp DEXs rose to $611.57B in 2026, compared to $531.65B in 2025
▫️ETH's staking ratio hit 32.4%, marking a new ATH
⏫ Bitcoin Weekly High: $73,885
⬇️ Bitcoin Weekly Low: $59,156
⏫ Ethereum Weekly High: $2,003
⬇️ Ethereum Weekly Low: $1,518
June 8th to 14th Upcoming Events
June 8 -10 - ETHConf NYC 🇺🇸
June 10 - US inflation announcement 🇺🇸
June 10 - HOME, $22 .5M token unlock🔓
June 12- SpaceX Nasdaq IPO 📊
*Nota Bene
Crypto markets experienced a sharp pullback this past week, with prices dipping to a low of $59k before recovering to over $62k across the weekend. This price action developed alongside several key market catalysts, including the first Strategy BTC sale, a strong US jobs report, & growing anticipation surrounding the looming $1.75T SpaceX IPO, which experts state could be diverting risk-tolerant liquidity away from crypto.
This cautious sentiment was clearly reflected in US ETF flows, as BTC ETFs posted substantial outflows of $1.7B while ETH ETFs lost $174M. HYPE ETFs stood out as a notable exception to the trend, despite the underlying asset dropping 14% WoW; its ETFs pulled in $17M net across the week. For the second week running, the sell offs affected all major markets as Germany saw $25.7M of outflows, while Sweden saw $6.6M & Hong Kong $4.5m.
Moving on to next week, while BTC's recovery off its $60k support level provides a positive technical signal, investors will closely monitor headline risks & the SpaceX trading action on Friday to gauge the market's next directional move.
June 1st to 7th Recap
▫️Strategy sold 32 BTC for $2.5M as total holdings dropped to 843,706 BTC
▫️The US sanctioned Nobitex & other Iranian crypto exchanges under 'Economic Fury' campaign
▫️Mt. Gox moved $739M worth of BTC to 2 addresses according to Arkham
▫️Grayscale launched its HYPG Hyperliquid ETF on Nasdaq
▫️Security researcher found Zcash vulnerability allowing 'unlimited' counterfeit minting; ZEC dropped 31%
▫️Data from DeFiLlama showed that DATs saw $2.19B in inflows in May, with BTC accounting for almost all the total
▫️Strive bought 2,500 BTC for $185.2M at $74K average price
▫️Bitmine filed for preferred stock offering, proposing a yield of 9.5%
▫️Securitize cleared SEC registration statement hurdle, setting path to NYSE listing as SECZ
▫️Variant raised $222M for new fund with a thesis of AI, crypto & ‘autonomy’
▫️Robinhood closed $180M WonderFi acquisition, entering Canadian crypto market
▫️Bitmine acquired 126,971 ETH worth over $206M taking total holdings to 5.54M ETH & $9.6B of crypto + cash
▫️Radiant Capital began winding down after failing to recover from $50M hack
▫️Data from Bloomberg showed that Just 9 wallets control 50% of all UMA tokens used for disputed bets on Polymarket
▫️Data from Coingecko showed that the average monthly trading vol of Perp DEXs rose to $611.57B in 2026, compared to $531.65B in 2025
▫️ETH's staking ratio hit 32.4%, marking a new ATH
⏫ Bitcoin Weekly High: $73,885
⬇️ Bitcoin Weekly Low: $59,156
⏫ Ethereum Weekly High: $2,003
⬇️ Ethereum Weekly Low: $1,518
June 8th to 14th Upcoming Events
June 8 -10 - ETHConf NYC 🇺🇸
June 10 - US inflation announcement 🇺🇸
June 10 - HOME, $22 .5M token unlock🔓
June 12- SpaceX Nasdaq IPO 📊
*Nota Bene
Crypto markets experienced a sharp pullback this past week, with prices dipping to a low of $59k before recovering to over $62k across the weekend. This price action developed alongside several key market catalysts, including the first Strategy BTC sale, a strong US jobs report, & growing anticipation surrounding the looming $1.75T SpaceX IPO, which experts state could be diverting risk-tolerant liquidity away from crypto.
This cautious sentiment was clearly reflected in US ETF flows, as BTC ETFs posted substantial outflows of $1.7B while ETH ETFs lost $174M. HYPE ETFs stood out as a notable exception to the trend, despite the underlying asset dropping 14% WoW; its ETFs pulled in $17M net across the week. For the second week running, the sell offs affected all major markets as Germany saw $25.7M of outflows, while Sweden saw $6.6M & Hong Kong $4.5m.
Moving on to next week, while BTC's recovery off its $60k support level provides a positive technical signal, investors will closely monitor headline risks & the SpaceX trading action on Friday to gauge the market's next directional move.
June Weekly Update #2
June 8th to 14th Recap
▫️Strategy acquired an additional 1,550 BTC for $101M at $65,161 per BTC
▫️Citigroup announced roll out of tokenized shares of private companies
▫️Japan's 3 largest banks announced plan to jointly issue stablecoins by March 2027
▫️FTX co-founder Bankman-Fried formally applied for Trump pardon & lost bid to overturn fraud conviction, 25-year prison sentence
▫️Data from Artemis showed that despite record highs in equities, tokens still struggle, as all size categories have experienced 14% to 15% declines
▫️Delphi Head of Research revealed since Jan 2025, the median return on newly listed tokens on CEXs has been -82%
▫️Data from Binance Research showed that TradFi-linked perps have grown from a negligible base to around 10% of total stablecoin trading volume
▫️Strategy announced approval of STRC semi-monthly dividends
▫️Wallets linked to Humanity Protocol drained for over $32M, token plunged 89%
▫️a16z crypto led $355M raise for Canton developer Digital Asset
▫️Morpho raised $175M in a round led by a16z crypto, Paradigm, and Ribbit Capital
▫️ Blockworks acquired Messari in deal worth "over $10M"
▫️Bitmine acquired 76,881 ETH worth over $132M taking total holdings to 5.62M ETH & $10.4B of crypto + cash
▫️Base chain hit a new transaction count ATH of 20.6M
▫️The number of weekly active users on HYPE surpassed 200k
▫️Data from The Block showed that Tokenized stocks, the 4th largest RWA category by market cap, have grown from $2.23B to $5.5B since Jan this year, a 147% increase in 6 months
▫️Data from Grayscale showed that HYPE processed $2.9T in perp vol in 2025 & holds about $7B in open interest (OI), making HYPE the 3rd or 4th largest perp futures exchange by OI
⏫ Bitcoin Weekly High: $64,305
⬇️ Bitcoin Weekly Low: $60,051
⏫ Ethereum Weekly High: $1,681
⬇️ Ethereum Weekly Low: $1,521
June 15th to 21st Upcoming Events
June 17 - US interest rate announcement 🇺🇸
June 17 - SPK, $17.8M token unlock🔓
June 20 - ZRO, $20M token unlock🔓
*Nota Bene
Crypto markets ground modestly higher this past week, with the long-awaited SpaceX listing dominating proceedings with BTC trading around $63,762 at the time of writing. Up 2.7% week-over-week as it pushes toward the $65k mark.
The institutional sell off continued for a 3rd week in a row as US BTC ETFs saw $319M worth of outflows while US ETH ETFs saw $14.8M of outflows,
Regarding digital assets prices, dispersion ran wide: TAO & WBT led with WoW gains of 27% & 17% respectively, while ETH neared $1,665 (+2.1% WoW). This was with futures showing a bearish signal even as corporate accumulation & staker resilience prevented a slide toward $1,500.
The geopolitical thread that has shadowed risk assets for months moved back to center stage as President Trump said an Iran peace deal would be signed Sunday with the Strait of Hormuz "open to all," a reopening analysts argue would push liquidity back into risk-on assets, though Tehran's contradiction of the timeline leaves it unsettled.
Looking ahead, the dominant catalyst remains SpaceX & its spillover into tokenized-share markets, where 30% synthetic premiums & cancelled exchange allocations show possible froth with traders warning that key support could crumble. Next week's direction looks both finely balanced & squarely headline-driven.
June 8th to 14th Recap
▫️Strategy acquired an additional 1,550 BTC for $101M at $65,161 per BTC
▫️Citigroup announced roll out of tokenized shares of private companies
▫️Japan's 3 largest banks announced plan to jointly issue stablecoins by March 2027
▫️FTX co-founder Bankman-Fried formally applied for Trump pardon & lost bid to overturn fraud conviction, 25-year prison sentence
▫️Data from Artemis showed that despite record highs in equities, tokens still struggle, as all size categories have experienced 14% to 15% declines
▫️Delphi Head of Research revealed since Jan 2025, the median return on newly listed tokens on CEXs has been -82%
▫️Data from Binance Research showed that TradFi-linked perps have grown from a negligible base to around 10% of total stablecoin trading volume
▫️Strategy announced approval of STRC semi-monthly dividends
▫️Wallets linked to Humanity Protocol drained for over $32M, token plunged 89%
▫️a16z crypto led $355M raise for Canton developer Digital Asset
▫️Morpho raised $175M in a round led by a16z crypto, Paradigm, and Ribbit Capital
▫️ Blockworks acquired Messari in deal worth "over $10M"
▫️Bitmine acquired 76,881 ETH worth over $132M taking total holdings to 5.62M ETH & $10.4B of crypto + cash
▫️Base chain hit a new transaction count ATH of 20.6M
▫️The number of weekly active users on HYPE surpassed 200k
▫️Data from The Block showed that Tokenized stocks, the 4th largest RWA category by market cap, have grown from $2.23B to $5.5B since Jan this year, a 147% increase in 6 months
▫️Data from Grayscale showed that HYPE processed $2.9T in perp vol in 2025 & holds about $7B in open interest (OI), making HYPE the 3rd or 4th largest perp futures exchange by OI
⏫ Bitcoin Weekly High: $64,305
⬇️ Bitcoin Weekly Low: $60,051
⏫ Ethereum Weekly High: $1,681
⬇️ Ethereum Weekly Low: $1,521
June 15th to 21st Upcoming Events
June 17 - US interest rate announcement 🇺🇸
June 17 - SPK, $17.8M token unlock🔓
June 20 - ZRO, $20M token unlock🔓
*Nota Bene
Crypto markets ground modestly higher this past week, with the long-awaited SpaceX listing dominating proceedings with BTC trading around $63,762 at the time of writing. Up 2.7% week-over-week as it pushes toward the $65k mark.
The institutional sell off continued for a 3rd week in a row as US BTC ETFs saw $319M worth of outflows while US ETH ETFs saw $14.8M of outflows,
Regarding digital assets prices, dispersion ran wide: TAO & WBT led with WoW gains of 27% & 17% respectively, while ETH neared $1,665 (+2.1% WoW). This was with futures showing a bearish signal even as corporate accumulation & staker resilience prevented a slide toward $1,500.
The geopolitical thread that has shadowed risk assets for months moved back to center stage as President Trump said an Iran peace deal would be signed Sunday with the Strait of Hormuz "open to all," a reopening analysts argue would push liquidity back into risk-on assets, though Tehran's contradiction of the timeline leaves it unsettled.
Looking ahead, the dominant catalyst remains SpaceX & its spillover into tokenized-share markets, where 30% synthetic premiums & cancelled exchange allocations show possible froth with traders warning that key support could crumble. Next week's direction looks both finely balanced & squarely headline-driven.
June Weekly Update #3
June 15th to 21st Recap
▫️BlackRock launched new BTC ETF that generates income using a covered call strategy
▫️Fidelity launched GENIUS-aligned money market fund for stablecoin issuers
▫️Coinbase announced 1:1 backed tokenized stocks of U.S. companies
▫️Data from K33 showed that over 50% of BTC's circulating supply is now trading at a loss
▫️Data from Laevitas showed that HYPE's HIP-3 builder layer is currently dominated by Trade[xyz] which holds $2,871M of the $2,959M network open interest (97%)
▫️Franklin Templeton filed for 2 new ETFs that invest dividends into BTC
▫️Microsoft found USB stick malware that hijacks crypto wallets
▫️Ripple bought into Flutterwave Series E at $3.2B valuation, ensuring RLUSD integration
▫️Stablecoin infrastructure firm Trace Finance raised $32M Series A, said valuation grew 10x from seed
▫️ Son of New York Senator Kirsten Gillibrand raised $30M to launch a derivatives exchange
▫️Bitmine acquired 52,203 ETH worth over $90M taking total holdings to 5.67M ETH & $10.7B of crypto + cash
▫️Base released June 25 mainnet launch target for Beryl upgrade & new B20 token standard
▫️The number of daily active addresses on Plasma One surpassed 2,100 on Jun 15, setting a new ATH
▫️Data from Grayscale showed that HYPE's HIP-3 markets hit peak open interest of $3.2B in June 2026, with roughly $200B in cumulative volume since launch
▫️Data from The Block showed that Pumpfun activity cratered 80% in 3 months, dragging SOL fees lower as traders rotate into perps
▫️Data from Grayscale showed that HYPE processed $2.9T in perp vol in 2025 & holds about $7B in open interest (OI), making HYPE the 3rd or 4th largest perp futures exchange by OI
▫️ETH slated to face core development 'funding crisis' within nine months, by former EF contributor
⏫ Bitcoin Weekly High: $67,194
⬇️ Bitcoin Weekly Low: $62,292
⏫ Ethereum Weekly High: $1,843
⬇️ Ethereum Weekly Low: $1,677
June 22nd to 28th Upcoming Events
June 21 - MEGA, $14M token unlock🔓
June 23 - H, $55M token unlock🔓
June 25 - XPL, $11M token unlock🔓
*Nota Bene
Crypto markets struggled to hold their footing over the past week, with BTC eking out a modest 0.7% WoW gain to close around $64,113. This was against the backdrop of a US-Iran flare-up reasserting itself & persistent Binance spot selling pressure keeping any rally honest.
US BTC ETFs saw $227.5M worth of outflows over a shortened trading week, while US ETH ETFs saw $10M worth of outflows. As a result, BTC ETFs posted a staggering $6.4B in net outflows over the trailing 30 days, the worst stretch on record.
Looking at price performance, ETH was the relative bright spot, posting a 4.3% WoW gain to $1,733, while XLM +17%, WLD +26%, & UNI +22% led the altcoin pack. However, analysts caution that BTC dominance holding above key support suggests a true altseason rotation remains premature. Despite rates being held staedy, there was guidance from this Fed meeting around a July rate-hike & with a $13B BTC options expiry in the near-term rearview, the path of least resistance still looks choppy.
Watching how BTC behaves around the $59K–$63K range in the week ahead will be the key tell, a clean hold keeps the door open for a grind higher, while a breach risks inviting the liquidity grab that several traders are already penciling in as a Q3 macro bottom scenario.
June 15th to 21st Recap
▫️BlackRock launched new BTC ETF that generates income using a covered call strategy
▫️Fidelity launched GENIUS-aligned money market fund for stablecoin issuers
▫️Coinbase announced 1:1 backed tokenized stocks of U.S. companies
▫️Data from K33 showed that over 50% of BTC's circulating supply is now trading at a loss
▫️Data from Laevitas showed that HYPE's HIP-3 builder layer is currently dominated by Trade[xyz] which holds $2,871M of the $2,959M network open interest (97%)
▫️Franklin Templeton filed for 2 new ETFs that invest dividends into BTC
▫️Microsoft found USB stick malware that hijacks crypto wallets
▫️Ripple bought into Flutterwave Series E at $3.2B valuation, ensuring RLUSD integration
▫️Stablecoin infrastructure firm Trace Finance raised $32M Series A, said valuation grew 10x from seed
▫️ Son of New York Senator Kirsten Gillibrand raised $30M to launch a derivatives exchange
▫️Bitmine acquired 52,203 ETH worth over $90M taking total holdings to 5.67M ETH & $10.7B of crypto + cash
▫️Base released June 25 mainnet launch target for Beryl upgrade & new B20 token standard
▫️The number of daily active addresses on Plasma One surpassed 2,100 on Jun 15, setting a new ATH
▫️Data from Grayscale showed that HYPE's HIP-3 markets hit peak open interest of $3.2B in June 2026, with roughly $200B in cumulative volume since launch
▫️Data from The Block showed that Pumpfun activity cratered 80% in 3 months, dragging SOL fees lower as traders rotate into perps
▫️Data from Grayscale showed that HYPE processed $2.9T in perp vol in 2025 & holds about $7B in open interest (OI), making HYPE the 3rd or 4th largest perp futures exchange by OI
▫️ETH slated to face core development 'funding crisis' within nine months, by former EF contributor
⏫ Bitcoin Weekly High: $67,194
⬇️ Bitcoin Weekly Low: $62,292
⏫ Ethereum Weekly High: $1,843
⬇️ Ethereum Weekly Low: $1,677
June 22nd to 28th Upcoming Events
June 21 - MEGA, $14M token unlock🔓
June 23 - H, $55M token unlock🔓
June 25 - XPL, $11M token unlock🔓
*Nota Bene
Crypto markets struggled to hold their footing over the past week, with BTC eking out a modest 0.7% WoW gain to close around $64,113. This was against the backdrop of a US-Iran flare-up reasserting itself & persistent Binance spot selling pressure keeping any rally honest.
US BTC ETFs saw $227.5M worth of outflows over a shortened trading week, while US ETH ETFs saw $10M worth of outflows. As a result, BTC ETFs posted a staggering $6.4B in net outflows over the trailing 30 days, the worst stretch on record.
Looking at price performance, ETH was the relative bright spot, posting a 4.3% WoW gain to $1,733, while XLM +17%, WLD +26%, & UNI +22% led the altcoin pack. However, analysts caution that BTC dominance holding above key support suggests a true altseason rotation remains premature. Despite rates being held staedy, there was guidance from this Fed meeting around a July rate-hike & with a $13B BTC options expiry in the near-term rearview, the path of least resistance still looks choppy.
Watching how BTC behaves around the $59K–$63K range in the week ahead will be the key tell, a clean hold keeps the door open for a grind higher, while a breach risks inviting the liquidity grab that several traders are already penciling in as a Q3 macro bottom scenario.
June Weekly Update #4
June 22nd to 28th Recap
▫️Strategy acquired an additional 520 BTC for $34.9M at $67,068 per BTC
▫️Cboe launched prediction market suite with binary option contracts on S&P 500
▫️Trump signed executive orders setting 2031 deadline for post-quantum migration
▫️SBI Group launched Japan's first trust bank-backed stablecoin JPYSC
▫️Data from a16zcrypto showed that prediction markets hit a record $10.8B in weekly trading vol in the week ending June 15
▫️Kraken entered talks to buy 15% stake in Aave at $385M valuation
▫️SBI Holdings agreed to acquire Japanese exchange Bitbank in $288.6M deal
▫️Franklin Templeton completed the acquisition of 250 Digital & established Franklin Crypto
▫️Sharplink bought ETH for first time in 8 months, adding 5k ETH
▫️Framework Ventures raised $400M for 4th fund as firm looks to invest in crypto, AI, robotics, & energy
▫️ Index Ventures, Union Square Ventures led $75M Series B raise for trading app Fomo at $550M valuation
▫️Crypto analytics startup Allium raised $40M to provide blockchain data for Wall Street
▫️Bitmine acquired 27,084 ETH worth over $42M taking total holdings to 5.7M ETH & $9.8B of crypto + cash
▫️MoneyGram became SOL validator, expanding blockchain payments strategy
▫️Data from DeFiLlama showed that Q2 2026 is the most-hacked quarter on record, with 70 hacks, 2X the record
▫️Data from Grayscale showed that HYPE's HIP-3 markets hit peak open interest of $3.2B in June 2026, with roughly $200B in cumulative volume since launch
▫️Data from Binance Research showed that on-chain leverage ratio climbed to around 38%, matching 2021 levels, driven largely by TVL compression as April's DeFi exploits triggered $13B in outflows
▫️Data from Galaxy Research showed that SOL's application fees declined for the 3rd quarter in a row, dropping 10% to $795M. Of the top 10 applications by fees, 5 are directly related to memecoins
▫️ETH Foundation announced reorganisation, cutting 20% of its workforce as Vitalik Buterin said EF to cut budget by 40%
⏫ Bitcoin Weekly High: $65,475
⬇️ Bitcoin Weekly Low: $58,121
⏫ Ethereum Weekly High: $1,774
⬇️ Ethereum Weekly Low: $1,520
June 29th to July 5th Upcoming Events
July 1 - EU MiCA licensing deadline for non-compliant exchanges to cease EU operations 🇪🇺
July 1 - Securitize ("SECZ") expected IPO 📊
July 5 - ENA, $10M token unlock🔓
July 6 - HYPE, $48M token unlock🔓
*Nota Bene
Crypto markets took a meaningful leg down over the past week, with BTC closing below $60K for the first time since Q3 2024, trading at $59,203. A 7.2% decline WoW while ETH shed 9.6% to trade at $1,560 at the time of writing.
Institutional flows reflected the deteriorating sentiment, with US BTC ETFs posting their largest single-day June outflows of $692M on the 25th amid a weekly outflow total of $1.78B. US ETH ETFs recorded outflows worth $273.5M as year-to-date ETF net flows now sit at a loss of $4.6B.
The dominant macro narrative this week was MiCA enforcement as Binance's EU exit coincided with $400M worth of exchange outflows as market participants reposition ahead of July 1. On-chain signals told a similar story as nearly 50,000 BTC moved to exchanges at a loss with short-term holder stress at its highest in 2 years, with analysts flagging active capitulation.
Looking forward, the July 1st, MiCA deadline on is the single most significant near-term catalyst, & the ensuing exchange migration dynamics could introduce meaningful volatility across European trading pairs. Without a meaningful macro tailwind the path of least resistance for BTC in the near term remains toward the $55K range flagged by technical analysts, although July has historically been a constructive month for BTC.
June 22nd to 28th Recap
▫️Strategy acquired an additional 520 BTC for $34.9M at $67,068 per BTC
▫️Cboe launched prediction market suite with binary option contracts on S&P 500
▫️Trump signed executive orders setting 2031 deadline for post-quantum migration
▫️SBI Group launched Japan's first trust bank-backed stablecoin JPYSC
▫️Data from a16zcrypto showed that prediction markets hit a record $10.8B in weekly trading vol in the week ending June 15
▫️Kraken entered talks to buy 15% stake in Aave at $385M valuation
▫️SBI Holdings agreed to acquire Japanese exchange Bitbank in $288.6M deal
▫️Franklin Templeton completed the acquisition of 250 Digital & established Franklin Crypto
▫️Sharplink bought ETH for first time in 8 months, adding 5k ETH
▫️Framework Ventures raised $400M for 4th fund as firm looks to invest in crypto, AI, robotics, & energy
▫️ Index Ventures, Union Square Ventures led $75M Series B raise for trading app Fomo at $550M valuation
▫️Crypto analytics startup Allium raised $40M to provide blockchain data for Wall Street
▫️Bitmine acquired 27,084 ETH worth over $42M taking total holdings to 5.7M ETH & $9.8B of crypto + cash
▫️MoneyGram became SOL validator, expanding blockchain payments strategy
▫️Data from DeFiLlama showed that Q2 2026 is the most-hacked quarter on record, with 70 hacks, 2X the record
▫️Data from Grayscale showed that HYPE's HIP-3 markets hit peak open interest of $3.2B in June 2026, with roughly $200B in cumulative volume since launch
▫️Data from Binance Research showed that on-chain leverage ratio climbed to around 38%, matching 2021 levels, driven largely by TVL compression as April's DeFi exploits triggered $13B in outflows
▫️Data from Galaxy Research showed that SOL's application fees declined for the 3rd quarter in a row, dropping 10% to $795M. Of the top 10 applications by fees, 5 are directly related to memecoins
▫️ETH Foundation announced reorganisation, cutting 20% of its workforce as Vitalik Buterin said EF to cut budget by 40%
⏫ Bitcoin Weekly High: $65,475
⬇️ Bitcoin Weekly Low: $58,121
⏫ Ethereum Weekly High: $1,774
⬇️ Ethereum Weekly Low: $1,520
June 29th to July 5th Upcoming Events
July 1 - EU MiCA licensing deadline for non-compliant exchanges to cease EU operations 🇪🇺
July 1 - Securitize ("SECZ") expected IPO 📊
July 5 - ENA, $10M token unlock🔓
July 6 - HYPE, $48M token unlock🔓
*Nota Bene
Crypto markets took a meaningful leg down over the past week, with BTC closing below $60K for the first time since Q3 2024, trading at $59,203. A 7.2% decline WoW while ETH shed 9.6% to trade at $1,560 at the time of writing.
Institutional flows reflected the deteriorating sentiment, with US BTC ETFs posting their largest single-day June outflows of $692M on the 25th amid a weekly outflow total of $1.78B. US ETH ETFs recorded outflows worth $273.5M as year-to-date ETF net flows now sit at a loss of $4.6B.
The dominant macro narrative this week was MiCA enforcement as Binance's EU exit coincided with $400M worth of exchange outflows as market participants reposition ahead of July 1. On-chain signals told a similar story as nearly 50,000 BTC moved to exchanges at a loss with short-term holder stress at its highest in 2 years, with analysts flagging active capitulation.
Looking forward, the July 1st, MiCA deadline on is the single most significant near-term catalyst, & the ensuing exchange migration dynamics could introduce meaningful volatility across European trading pairs. Without a meaningful macro tailwind the path of least resistance for BTC in the near term remains toward the $55K range flagged by technical analysts, although July has historically been a constructive month for BTC.