In 2020, we saw reversals similar to those that are happening on the market now.

But this time the previous waves were neither big nor small, so they are a little difficult to interpret. It doesn't look like a full-fledged bull market, but it doesn't look like a mini-bull market of 2019.

CEXs dominate the crypto options trading volume, with an average monthly trading volume of $97 billion in the past 12 months.

In contrast, DEXs’ notional volumes were around $877 million in the same period, according to DefiLlama.

Active loans exceeded $26.2 billion for the first time in history.

Aave accounts for 66% of the total lending market.

Even though it was short-lived, this round of the Plasma sale saw more than twice as many wallets participate as the first.

$500 million was contributed in just 151 blocks, and the distribution continued to improve.

About 30% of all bitcoins are controlled by 216 centralized organizations, including governments and public companies.

This dynamic may indicate the growing interest and influence of institutional investors and the market's transition to a more centralized model of asset storage.

TRON set a new record: $700B in transfers, of which $411B was from whales.

In May alone, $694.54 billion worth of USDT was transferred on TRON. That's an ATH.

The blockchain landscape witnessed several high-profile launches in early 2025, each promising unique value propositions.

Six months in, the data reveals a sobering picture of post-launch traction.

Here's my article on the state of new chains, featuring Berachain, Abstract, Unichain, Ink, and Worldchain.

Open interest in ETH futures has reached a new ATH, exceeding $20 billion.

Despite a slight pullback from the $2.8 thousand level, leverage continues to grow, and traders are increasing volumes.

It’s GOAT Network’s time to shine.

Over the past month, the network’s TVL has skyrocketed by 4,694%.

Binance Alpha's trading volume has been declining after peaking at $2.04 billion on June 8.

Already in mid-June, it is about $777 million – a decrease of 62%.

The inflow of BTC to Binance from whales and retail traders has fallen to the lowest level since the beginning of this cycle.

This model indicates a strong retention preference, not sales.

Last week there were many interesting events. Everything in order in the research ↓

General
➖ 4pillars: Inevitable Expansion of the Bitcoin Ecosystem
➖ CoinShares: Digital asset bi-weekly digest - June 17th 2025
➖ Binance: Weekly: Geopolitical Shocks, Short Squeeze, and ETH’s Rising Opportunity
➖ Galaxy: Weekly Top Stories - 6/13
➖ Galaxy: The Agentic Edge: A New Operating System for the Physical World

Market
➖ CoinShares: Market update - June 13, 2025
➖ CoinShares: Digital Asset Fund Flows | June 16th 2025
➖ CoinGecko: RWA Report 2025: When Crypto Gets Real
➖ Coinbase: Weekly: State of Crypto 2025
➖ Cointelegraph: HTX Ventures: Macro Liquidity, Trump-Era Policies and Crypto’s Institutional Shift
➖ Glassnode: Market Pulse: Week 25
➖ Galaxy: Rates, Rent, and Retail Pain
➖ Galaxy: May Milestones: New BTC Highs, ETH Surge, and Evolving Speculation

DeFi
➖ 4pillars: Fragmetric's Evolution: From Liquid Restaking Towards Universal Asset Management

Blockchains & networks
➖ 4pillars: The Data Wars: Sui-Powered Walrus vs. Full-Stack Irys

The RWA sector has grown by almost 300% in a year.

Among the largest protocols and assets by TVL are BlackRock's BUIDL, Ethena's USDtb, Ondo Finance, Paxos, Tether's XAUt.

Lending TVL recently reached an ATH of $56 billion, making it the largest category in DeFi.

Origami Finance and Bluefin have been particularly notable among the leading protocols over the past month.