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🟢Onchain Overview
Last week saw relatively low market volatility, with both spot and perpetual trading volumes dropping sharply.
Notably, the $SEI price surged over 50%, while #Sei Network's TVL increased by 44.60%, surpassing $610M.
🟢Stablecoin Market
The total stablecoin market cap increased by $1.951B.
stablecoins(USDT&USDC) on #Tron increased by $1.56B and stablecoins(USDT&USDC) on #Ethereum increased by $727M.
🟢Spot & Perps Trading Volume on DEXs
According to DeFiLlama, the DEX spot trading volume reached $85.91B last week, down 12.22% from the previous week. Breakdown:
PancakeSwap: $38.32B (WoW -2.43%)
Raydium: $4.05B (WoW +1.81%)
Meanwhile, DEX perps trading volume totaled $73.58B, a 28.82% decrease week-over-week. Breakdown:
Hyperliquid: $45.62B (WoW -26.22%)
Jupiter: $3.33B (WoW -27.58%)
ApeX Protocol: $2.78B (WoW -13.57%)
🟢Announced BTC purchases
Last week, 20 listed companies announced the purchase of 14,183 $BTC($1.53B), of which Strategy purchased 4,980 $BTC($531.87M) and ProCap BTC purchased 4,932 $BTC($514.5M). #Grayscale ETF Approval#
The crypto world is holding its breath as the U.S. SEC prepares to make a key decision this week on Grayscale’s ETF applications. These ETFs are not just for Bitcoin, but also for Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) some of the biggest names in the crypto space.
Grayscale is one of the most well known asset managers in the digital currency space. If their ETF applications get approved, it would mark a major step forward for the industry.
This would allow traditional investors to gain exposure to these cryptocurrencies through the stock market without having to directly buy or store the actual tokens.
Why is this important? Because ETFs open the door for big institutional money to enter the crypto market. Pension funds, hedge funds, and even conservative investors who were previously hesitant can now invest in crypto in a regulated and more familiar way.
This kind of access and confidence can increase demand. And when demand rises, prices often follow. So yes, if the ETFs are approved, we could see a significant price surge in BTC, ETH, XRP, SOL, and ADA. These coins already have strong communities and use cases the ETF would simply add fuel to the fire.
Moreover, such a move would also be seen as a form of regulatory approval
It signals that U.S. regulators are starting to accept digital assets as part of the broader financial ecosystem. This could encourage more companies, developers, and even governments to work with blockchain technology and adopt crypto-friendly policies.
But let’s not ignore the other side. If the SEC delays its decision again or rejects the application, the market might react negatively. Short-term dips are possible as traders adjust to the news. However, the long-term trend still looks positive, as demand for crypto ETFs continues to grow globally.
At this point all eyes are on the SEC
Will this week be the breakthrough moment for Grayscale and the crypto community? Or will we have to wait longer for full integration of digital assets into traditional finance?
No one can predict with certainty, but one thing is clear we’re standing at a key crossroads for crypto adoption. If approved, this could be a major catalyst for the next bull run. So stay alert, stay informed, and always invest wisely. Greed is back in the market:
The Bloomberg’s Fear/Greed gauge on the S&P 500 hit 298 points on Friday, the highest since March 2024.
It has climbed ~800 points over the last 10 weeks, marking one of the fastest reversals on record.
During the same period, CNN’s Fear and Greed Index has surged 45 points, to 65, and is just 10 points shy of “extreme greed” territory.
All while the Volatility Index, $VIX, has dropped ~44 points, or 73%, since its April peak, closing Friday at 16.3, the lowest since February 24th.
Bullish sentiment is extremely strong.
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Bakkt, a public company, has joined the global trend of creating reserves in $BTC, according to documents filed with the SEC.
The management of the company, established in 2018, plans to raise $1 billion through the sale of shares, warrants, and debt securities for the subsequent purchase of digital gold.
On June 10, Bakkt announced a change in its investment policy, which now provides for investments in bitcoin and other digital assets as part of its “broader corporate and treasury strategy.” According to the documents submitted to the Commission, no acquisitions have been made so far. 