This week's selection of new research is ready for reading 📚

General
➖ CoinShares: Digital Asset Bi-Weekly Digest - June 3rd 2025
➖ Galaxy: Weekly Top Stories - 5/30

Market
➖ CoinShares: Digital Asset Fund Flows | June 2nd 2025
➖ CoinShares: Market Update - May 30, 2025
➖ Coinbase: Weekly: Great Expectations
➖ Binance: Weekly: Crypto Treasuries Rise, Macro Signals Stay Mixed
➖ Glassnode: Market Pulse: Week 23

Blockchains & networks
➖ 4pillars: Sui vs Hyperliquid: A Tide-Turning Rivalry for L1 Dominance
➖ 4pillars: Mode Network: Agentic Economy through the DeFAI Stack

Tokens & currencies
➖ The Defiant: A Quiet Disruption: DeFidollars

Ethereum futures remain on the rise, with the asset holding firm after its impressive early-May rally.

The ETHBTC ratio has made a higher low, signaling that investor interest in ETH continues to build.

Over the past six months, BTC market behavior has tilted toward institutions.

Above $90K, activity is dominated by wallets holding 100-10K BTC, while the biggest holders (>100K BTC) are clustered around $74K-76K, and large whales remain active between $78K and $90K.

DeFiLlama’s June unlock calendar shows significant incoming supply:

• Connex – $115.5m
• Fast – $88.6m
• Solana – $68.02m

Bitcoin hit block height 900,000.

For over 15 years, BTC has produced a new block every ~10 minutes, without skipping a beat.

Elastic Network rebuilt ZKsync L1 and made ZK-chain integration seamless.

Since launch, its revenue has jumped 8x — a clear signal of growing demand.

Fluid routes 35% of deposited collateral straight into its DEX — combining security with active liquidity.

A smart twist on traditional vault mechanics.

Tether's BTC holdings dropped from 92.6k to 78k, with a 14k BTC ($1.6B) outflow.

One of the biggest wallet moves in months — and everyone’s watching.

Orca’s trading fees on top pairs like SOL-USD and BTC-USD have halved since 2022.

Nowadays, the average fee on SOL-stablecoin pools is under 0.05%.

Silo Finance tripled its revenue in just one year — thanks to isolated lending pools, yield-bearing assets, and capital efficiency.

It's quietly becoming a DeFi standout.

Alkanes are generating more demand than Ordinals (ex-BRC-20), though still trailing Runes and BRC-20 in fees.

Crypto funds hit a new ATH in May with $7.05B in net inflows.

Market uncertainty is pushing institutional capital toward digital assets for diversification and protection.

New weekly research for you, guys 💎

General
➖ Crypto.com: Alpha Navigator: Quest for Alpha [May 2025]
➖ Crypto.com: Research Roundup Newsletter [May 2025]
➖ Binance: Weekly: Circle Goes Public, Exchange Balances Low, ECB Makes 8th Rate Cut
➖ Galaxy: Weekly Top Stories - 6/6

Market
➖ CoinShares: Inside the 13F Filings of Bitcoin ETFs Q1 2025, the institutional investors rebalance
➖ CoinShares: Market update - June 06, 2025
➖ CoinShares: Digital Asset Fund Flows | June 9th 2025
➖ CoinShares: It feels a lot like 2020
➖ Crypto.com: Crypto Options
➖ Coinbase: Weekly: Spotlight on Stablecoins
➖ Binance: Monthly Market Insights - June 2025
➖ The Defiant: Tokenized Real-World Assets Surge 260% in 2025
➖ Glassnode: Seasoned Holders Taking Profit
➖ Glassnode: Market Recovery
➖ Galaxy: Soft Data, Hard Questions for the Economy

DeFi
➖ Crypto.com: Interest Rate Derivatives and Pendle

Blockchains & networks
➖ 4 pillars: mETH Protocol: Next-Generation Ethereum Staking Infrastructure for Institutions
➖ Galaxy: Backing RISE Chain: Scaling Ethereum with Infinite Speed and Decentralization at its Core
➖ Galaxy: Backing Row64: Real-time, Interactive business intelligence

Tokens & currencies
➖ 4pillars: Structural Debates of Stablecoins [Part 1]
➖ 4pillars: Stablecoin Issuance Pipeline [Part 2]
➖ 4pillars: Global Stablecoins Use Cases [Part 3]
➖ 4 pillars: Proposals for Issuing KRW-Denominated Stablecoins [Part 4]
➖ 4pillars: Accounting, Taxation, and Regulatory Challenges of Stablecoins [Part 5]
➖ 4pillars: APPENDIX. Frequently Asked Questions on Stablecoins

ETH staking has reached a new ATH.

Ethereum keeps setting records as network confidence grows.

Ether.fi is gaining ground while Lido sees outflows.

In six months, Ether.fi’s staked ETH rose 30%, as Lido’s dropped 9%, cutting its market share from 30% to 25.6%.