Weekly Market Insight: June Week 1

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Market Updates

02 Jun 2025

Headline News

Bitcoin fell 3.04% last week, snapping a seven-week winning streak. The much-anticipated Bitcoin 2025 conference delivered no major announcements, while renewed uncertainty over tariff policies added pressure to broader markets. Additionally, Q2 GDP data and the latest personal spending figures pointed to a slowing economy, making the earlier rally this month appear increasingly uneasy.

Macro-Outlook

The US Court of International Trade ruled President Trump's tariffs were issued illegally. However, the federal appeals court temporarily paused the ruling from taking effect. The case will likely escalate to the US Supreme Court.
The Trump administration is currently having an active trade talk with Nippon Steel and potential call between Trump and China. The US and China both accused the opposite party of implementing export control, rare earth minerals by China and semi-conductors by the US.
President Trump also stated he would increase steel and aluminum import tariffs from 25% to 50% at the US Steel plant in Pennsylvania.
The FOMC minutes in May suggested the staff revise down their projections for real GDP growth in 2025 and 2026, and the committees expressed concern on potential stagflation risk.
The US durable goods orders decreased by 6.3% in April, the largest decline since January 2024, slightly softer than market expectations of a 7.8% decline.
The second estimation of US Q2 GDP was -0.2%, slight improvement from the initial estimate of -0.3%.
The core PCE price index increased by 0.1% in April, in line with market expectations. Meanwhile, personal income in the US increased by 0.8% in April, higher than the market forecast of 0.3%. Personal spending increased by 0.2% in April, in line with the market forecast.

Upcoming Economic Calendar including,

Monday, June 2, 10:00pm: The US ISM Manufacturing PMI in May
Tuesday, June 3, 10:00pm: The US JOLTs Job Openings in April
Wednesday, June 4, 10:00pm: The US ISM Services PMI in May
Thursday, June 5, 8:15pm: The ECB Interest Rate Decision
Friday, June 6, 8:30pm: The US Non-Farm Payroll and Unemployment Rate in May

Weekly-Cryptos-Overview

Trump Media & Technology Group (DJT) announced a $2.5 billion Bitcoin Treasury Deal includes approximately $1.5 billion in common stock and $1 billion in convertible notes.
Sharplink Gaming announced a $450 million raise to initiate an Ethereum treasury strategy with the company's shares. Consensys is the lead investor. The company filed with the SEC to offer up to $1 billion in securities in the future.
The Senate passed the House's amendment to the $500 billion market capitalisation requirement in the Texas Bitcoin Reserve Bill (SB21). The bill is now pending final approval from the state governor.
Circle seeks near $6 billion valuation IPO on the New York Stock Exchange. Blackrock reportedly plans to acquire around 10% of the shares offered, while rumour indicates Ripple will actively acquire Circle's shares in the secondary market.
The US SEC stated staking in PoS networks does not constitute securities transactions.
BNP Paribas Asset Management launched tokenised money market fund on Allfunds Blockchain, a dedicated blockchain for fund distribution developed by Amsterdam listed company Allfunds.
Banco Santandar, the largest bank in Spain, is reportedly planning to launch stablecoin and cryptocurrency services to retail clients through its digital arm, Openbank.
The Bank of Russia announced that financial institutions are allowed to offer non-deliverable crypto-linked financial products to qualified investors.
The crypto assistant of Pakistani prime minister announced that Pakistan plans to establish a strategic Bitcoin reserve.
DeFi Development Corp announced integrating Sanctum to offer liquid staking for Solana, dfdvSOL. The company also filed with the SEC to raise up to $1 billion in securities.
GameStop announced the company has acquired 4,710 Bitcoin.

Layer 1 and Layer 2s

Starkware launched S-two, claiming it as the fastest ZK prover in the world. The prover is expected to be fully integrated into Starknet in the next months.
ZKsync introduced ZKsync Prividium, an enterprise-grade blockchain platform for secure, compliant onchain finance. The platform is being used by Deutsche Bank's Memento Blockchain.
Arbitrum listed on Kaito Leaderboard, allocating 400,000 ARB to Kaito Yappers for 3 months.
TON appointed Nikola Plecas ex-senior director of Visa Crypto, as VP of Payments. TON network halted for 20 minutes due to an error in the processing of the masterchain dispatch queue.
Telegram is reportedly planning to raise $1.5 billion in bond issues. TON previously partnered with LibreCapital to tokenise Telegram Bond on TON Network. Telegram founder Pavel Durov stated Telegram partnered with xAI to bring Grok to Telegram, $300 million in cash and equity from xAI, plus 50% of the revenue from xAI subscriptions sold via Telegram. However, Elon Musk mentioned no deal had been signed yet.
Plume announced Curve Finance will be accessible on Plume Genesis from day 1. Plume's co-founder, Eugene, passed away.
Chintai partnered with Arch Network to enable opportunities for investors to leverage Bitcoin to purchase RWA and use those assets to generate Bitcoin yield.
Balcony, a real-estate infrastructure focus Avalanche Layer 1, partnered with Bergen County Clerk's Office in New Jersey, to tokenise the property records of over 370,000 parcels or $240 billion in value.
Solayer launched its hardware acceleration, parallel execution and network-level optimised ultra-low latency Layer 1, infiniSVM devnet.
Starknet introduced Asset Runes, bridging assets starting from USDC to Bitcoin as Rune assets with redeemable 1:1 on Starknet.
Lunar Digital Assets announced launching LitVM, a ZK-EVM-rollup for Litcoin using BitcoinOS and Polygon's CDK stack.

Dapps

Experimental attention-driven meme, LOUD, was launched on Meteora, rewarding the top 25 mindshare leaders, with data powered by Kaito. 20% of LP fees will be rewarded to Kaito stakers to boost the flywheel.
Cetus will fully compensate all users with its cash, token reserves and loan from the Sui Foundation. Sui passed the vote to transfer the frozen fund to multi-sig wallet controlled by Cetus, Sui Foundation and OtterSec.
MetaMask now supports Solana network on its browser extension wallet.
Maple has closed the first tranche of Bitcoin-backed financing facility (up to $2 billion) with Cantor, a premier US investment bank. Cantor also announced the launch of a Gold-Hedged Bitcoin Fund, offering Bitcoin exposure with downside protection based on Gold price.
AIXBT launched AIXBT Terminal, offering insight on surging protocols, popular protocols, task automation and chat directly with AIXBT. Users can hold 600,000 AIXBT or stake 500,000 AIXBT on Virtuals' Agents Staking.
Euler Finance introduced EulerSwap, integrating Uniswap v4 directly with lending vaults, offering liquidity providers both yields from swapping and lending, deepening liquidity with just-in-time liquidity from borrowing and native support for LP positions as collateral.
SunPump introduced CEX Alliance, recommending projects with a market capitalisation of over $500,000 to partner exchanges after being reviewed by the SunPump team.
The leading private sales platform, Echo, announced Sonar. Sonar enables projects to self-host public token sales seamlessly with various configurable compliance tools.
TaoFi launched Uniswap V3 on Bittensor EVM and enables USDC to be bridged from Ethereum and Base to the network.
Decentralised perpetual exchange, ELFi Protocol, launched Fast Trading feature, offering millisecond-level order execution.
Hyperdrive was launched last week, serving as the money market for Hyperliquid. The team raised $6 million Series A led by HackVC and Arrington Capital.
KernelDAO announced integrating USD1 from World Liberty Finance as a restakeable asset.

Upcoming Alpha and Governance

Internet Computer will hold the World Computer Summit 2025 in Switzerland on June 3.
Upside, the social prediction market on Base, is expected to launch on June 10.
The proposal of the merger between Synthetix and Derive, SIP-415, had been withdrawn due to inalignment of community's opinion.
DYDX is voting to reduce its validator sets from 60 to 50 as most of the bottom validators appear to be inactive or disengaged. By reducing the validator sets, the network could have faster transactions.
Reserve Protocol is set to conduct its second burning on June 20 from the DTFs platform fees and mint fees.
IoTex is voting to reduce its blocktime from 5 seconds to 2.5 seconds through targeted consensus parameter optimization and network-layer enhancements.

Token Unlock

TAIKO token unlocked on June 5, amount representing 69% of the token supply.
JTO token unlocked on June 7, amount representing 3.43% of the token supply.
IO token unlocked on June 11, amount representing 1.92% of the token supply.
APT token unlocked on June 12, amount representing 1.79% of the token supply.
IMX token unlocked on June 13, amount representing 1.33% of the token supply.
BB token unlocked on June 13, amount representing 10.92% of the token supply.
STRK token unlocked on June 15, amount representing 3.81% of the token supply.
VANA token unlocked on June 16, amount representing 16.8% of the token supply.
ZK token unlocked on June 17, amount representing 21% of the token supply.
ZRO token unlocked on June 20, amount representing 22.2% of the token supply.
LISTA token unlocked on June 20, amount representing 19.3% of the token supply.

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