Web3 acquisition is easy, but retention is still 5.4%

Binance Research's Web3 adoption report tracked retention across Ethereum, BNB Chain, Arbitrum, Base, Avalanche, OP Mainnet, TON, Starknet, and Manta.

The average network retention rate is back in 2024 was 5.4%, and several cohorts fell sharply after the first few months.

That is the post-incentive retention problem, illustrated.

Data source: Binance Research

Related read: From Speculation to Habit: What Web3 Apps Can Learn From Fintech Retention

Bitcoin and ether ETFs bleed ≈$500M in outflows on June 24 – Link

Spot Bitcoin ETFs saw $469M in net outflows on June 24, while Ethereum spot ETFs lost another $30.2M. Fidelity's FETH led ETH outflows with $15.7M, while Grayscale's Bitcoin Mini Trust was the only notable inflow at $23.6M.

Matters because: Sustained ETF outflows can signal institutional de-risking and may keep pressure on BTC spot prices if the trend continues.

South Korea to integrate tokenized securities into capital market reform; live by February 2027 – Link

South Korea's FSC has formally added Token Securities infrastructure to its capital market modernization plan, alongside shorter settlement cycles and longer trading hours. Samsung SDS has been contracted to build the management platform, with completion targeted for February 2027.

• The National Assembly passed amendments in January 2026 recognizing blockchain distributed ledgers as a securities registration system
• The reform is part of broader capital market modernization

Matters because: This is a meaningful regulatory step that could support institutional adoption of tokenized assets in one of Asia's largest markets.

This week Chainlink joined Project Pangea — 47 banks, $10T+ AUM, targeting T+0 FX settlement within 12 months – Link

Chainlink Labs joined Project Pangea, a coalition of 37 European banks and 10+ South Korean banks targeting real-time stablecoin-based FX settlement across the Europe–South Korea trade corridor. The project aims to move from T+2 to near-instant T+0 atomic PvP settlement using regulated euro- and won-pegged stablecoins.

Matters because: This is a meaningful institutional adoption signal for Chainlink’s oracle and cross-chain infrastructure.

Search benchmarks are useful, but they don’t measure user quality

WordStream’s 2026 Google Ads benchmark gives a clean snapshot of search performance across more than 13,000 campaigns: 6.64% click-through rate, $5.42 cost per click, 8.18% conversion rate, and $66.69 cost per lead.

Useful numbers.
But for fintech and Web3, CPC and CPL are only the start. A click matters less than what happens next – KYC completion, first deposit, first transaction, funded account, retention, and revenue per user.

CTR: 6.64%
CPC: $5.42
CVR: 8.18%
CPL: $66.69

So yes, search still captures intent. The real question is whether that intent turns into a real user.

Related read: 2026 Distribution Strategy for Fintech and Web3: The End of Fake Growth

Kraken in talks to acquire 15% stake in Aave Group for ≈$71M – Link

Kraken's parent Payward is reportedly negotiating to exchange 35,000 ETH for 250,000 AAVE tokens plus a 15% equity stake in Aave Group, implying a ≈$385M valuation. The deal would be the first investment under Kraken's planned Payward Asset Management initiative, though Aave founder Kulechov disputed the reported terms.

Matters because: It signals growing CEX interest in direct DeFi protocol stakes and a further blur between CeFi and DeFi.

Fed's Williams pushes inflation target return to 2028; rate hike expectations firm – Link

New York Fed President John Williams said U.S. inflation is still "far above" the 2% target and pushed his convergence timeline back to 2028 from "next year." Chicago Fed President Goolsbee also said core inflation is moving in the wrong direction, with 9 of 19 FOMC officials still projecting at least one more hike.

Matters because: The macro headwind for crypto may last longer than markets had priced in if Fed officials stay this hawkish.

Holder retention is the real test after the incentive cycle ends

Glassnode’s UNI holder-retention chart tracks retained, new, resurrected, and churned holders, alongside UNI price, from 2022 to 2025.

This way, Web3 retention should be measured as repeat behavior and capital kept, not just wallet counts.

Data source: Glassnode
Related read: From Speculation to Habit: What Web3 Apps Can Learn From Fintech Retention

Uniswap launches no-code token auction tool, competing with Pump.fun – Link

Uniswap added a no-code token auction tool inside its web app, letting projects configure and run on-chain token sales from a browser without writing code. The system uses a Continuous Clearing Auction mechanism that clears bids across multiple blocks at one final price.

Matters because: It puts Uniswap into direct competition with Pump.fun in token launches and could support UNI fee revenue if adoption grows.

Capital retention is a lifecycle, not a single event

The diagram maps the path from New to Active, then to Retained, Churned, Resurrected, or Dead.

Web3 interpretation: a wallet showing up once is not the same as a user becoming durable.

Imo, Web3 teams should measure repeat behavior and capital retained, not just acquisition.

In practice, the goal is to move users from incentive-driven activity into habits that survive after the reward ends.

Related read: From Speculation to Habit: What Web3 Apps Can Learn From Fintech Retention

Ripple launches RLUSD stablecoin in Japan following regulatory approval – Link

Ripple has launched RLUSD in Japan after receiving regulatory approval, expanding the product into the world's third-largest economy. The launch comes as Japan continues building a compliant stablecoin framework.

Matters because: The Japan launch adds to momentum for on-chain payments infrastructure in Asia and may support broader XRP ecosystem sentiment over time.

Daily news snapshot: Altcoins watchlist

1. Act I: The AI Prophecy (ACT): +27.3% (24h)

• Market cap: ≈$10.87M
• ACT, an AI-themed memecoin on Solana, surged over 27% in 24 hours with $180M+ in trading volume.

Catalysts:
• No single identifiable fundamental catalyst was found.
• The move appears driven by speculative rotation into AI-narrative meme tokens during a broader risk-off environment.

Matters because: The volume-to-market-cap ratio points to elevated short-term volatility in both directions.

2. Synapse (SYN): +18–27% (24h)

• Market cap: ≈$87.7M
• An on-chain wallet linked to BitMEX co-founder Arthur Hayes bought about 6.16 million SYN tokens (≈$2.2M) in the last 24 hours.

Catalysts:
• The wallet purchase triggered the sharp move.
• SYN is a cross-chain interoperability protocol token.

Matters because: The move may signal renewed interest in bridge and interoperability infrastructure, but single-wallet pumps carry high reversal risk.

3. Celo (CELO): +4.3–5.9% (24h)

• Market cap: ≈$41.7M
• CELO modestly outperformed a broadly flat-to-negative market.

Catalysts:
• No specific catalyst was identified.
• Community analysis pointed to technical recovery signals, including RSI above 54 and price reclaiming the Bollinger Band midpoint.

Matters because: The move is modest and may not hold without a clearer fundamental driver.

Bitcoin heads for rare back-to-back quarterly loss; fear & greed at extreme fear (16) – Link

Bitcoin briefly dipped below $60,000 and is tracking a ≈12% Q2 decline after a 22% drop in Q1. Altcoins fell harder on the week: ETH -9.5%, DOGE -11.7%, XRP -8.7%. The Fear & Greed Index is at 16, while AHR999 sits at 0.325; $59K-$60K is the key support zone.

Matters because: The combination of ETF outflows, a hawkish Fed, and a strong DXY is weighing on risk assets, with $59K-$60K the level to watch.

Bitcoin spot ETFs post second-worst week on record — seven consecutive weeks of outflows – Link

U.S. spot Bitcoin ETFs shed $1.79B in the week ending June 26, the second-largest weekly net outflow on record. BlackRock's IBIT led with $1.303B in outflows, followed by Fidelity's FBTC at $315M; total ETF net asset value is now $72.82B.

Matters because: Persistent institutional selling can keep pressure on BTC and make near-term altcoin rotation less likely.

Securitize to list on NYSE as "SECZ" on July 2 after $400M SPAC raise – Link

Securitize, the largest RWA tokenization platform, said its merger with Cantor Equity Partners II is on track to raise about $400M. Shareholder vote is set for June 29, with NYSE listing under ticker SECZ targeted for July 2.

Matters because: This is a meaningful step for the RWA sector's institutional credibility and signals growing TradFi appetite for on-chain asset infrastructure.

These days, finding good crypto channels is a big challenge.

Many KOLs have capitulated – and I’m really thankful you’re still here. You’re OGs.
I love you.

Today, I’ve curated a list of 10 great, active Telegram channels covering different topics – from market research to degening and using crypto cards.

I’m sure you’ll enjoy this compilation and find your new favorite channels there.

Join here → https://t.me/addlist/jjQLMhQO_Wg1Yjlk

Loopring DEX shuts down permanently, to return all user assets – Link

Loopring announced the immediate end of all trading services after failing to achieve meaningful adoption. User assets will be returned directly to L1 wallets at no gas cost after a two-week review period.

• The team cited the lack of a virtual machine, which limits composability.
• LRC was delisted from major exchanges in 2026.
• The architecture is now seen as obsolete relative to modern zkEVM solutions.

Matters because: It marks the end of first-generation zkRollup DEX models and highlights pressure from zkEVM-based L2s.

StablecoinX (Ethena infrastructure) completes SPAC merger, lists on Nasdaq as "USDE" – <u>Link</u>

StablecoinX, the first publicly listed stablecoin infrastructure company focused on the Ethena ecosystem, completed its merger with TLGY Acquisition Corp and began trading on Nasdaq under ticker "USDE." The company holds about 3B ENA tokens, roughly 20% of total supply.

Matters because: The listing is a milestone for Ethena-linked infrastructure, but the sharp decline in USDe's market cap may weigh on the company's treasury valuation.

U.S. FHFA orders Fannie Mae and Freddie Mac to prepare crypto mortgage proposal – Link

FHFA Director William Pulte has directed Fannie Mae and Freddie Mac to draft proposals that would recognize cryptocurrency held on U.S.-regulated centralized exchanges as an eligible asset in mortgage risk assessments, without forcing conversion to USD. The move fits the Trump administration's broader crypto-friendly policy agenda.

Matters because: If approved, this could expand crypto's role as collateral and support longer-term institutional demand.

Aave V4 targets $4.6T securities lending market with tokenized stocks – Link

Aave founder Stani Kulechov said Aave V4 will let users deposit tokenized equities like AAPL and TSLA as collateral or lending assets, capturing lending yield now retained by brokers. The global securities lending market generates about $35B annually.

Matters because: If executed, this would expand Aave well beyond crypto-native assets and could drive meaningful protocol revenue growth.

Daily news snapshot: Altcoins watchlist

• Synapse (SYN): +≈28% (24h)

• Market cap: ≈$114M
• Arthur Hayes disclosed a $2.2 million purchase of 6.16 million SYN tokens via FlowDesk, backing Synapse Protocol's Hypercall.

Catalysts:
• Lookonchain confirmed the on-chain buy
• Hypercall is described as a decentralized options exchange
• Hayes framed it as a potential Deribit competitor

Matters because: High-profile buying from a credible market participant can drive short-term momentum, even if some of the move was already priced in.

2. Re Protocol (RE): +≈23% (24h)

• Market cap: ≈$116M
• RE launched its governance token on June 18 via a Binance Prime Sale and has since listed on 16 spot venues and 11 perpetual venues.

Catalysts:
• The protocol has close to $600M in TVL
• It operates in onchain reinsurance, a largely untouched DeFi vertical
• Only ≈16% of total supply is in circulation

Matters because: The post-launch move reflects ongoing price discovery, but the December 2026 unlock could create future supply pressure.

3. Hyperliquid (HYPE): +≈5.6% (24h)

• Market cap: Large-cap (confirmed active on Bitget)
• HYPE outperformed the broader market while most altcoins stayed under pressure.

Catalysts:
• Hyperliquid ranked #1 in DeFi holder revenue last week
• About $12.3M was returned to token holders
• That represented ≈43.9% of total top-10 DeFi protocol revenue, per DefiLlama

Matters because: Strong and verifiable fee generation can keep rotation flowing into protocols with real revenue, even in a weak tape.