Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | June 22 - June 28, 2025

Crypto Weekly Market Update

Table of Contents

Market Movements and Trends

• Crypto Weekly Recap

Monetary and Real Estate Integration

• FHFA Explores Bitcoin Integration in Mortgage Lending Amid Housing Market Changes
• ProCap Financial Becomes a Major Bitcoin Player with 4,932 BTC Amid $1B Treasury Strategy

Fundraising and Market Expansion

• Polymarket and Kalshi Raise Major Funds, Transforming Prediction Markets with $200M and $185M Rounds

Payment Infrastructure and Traditional Finance Integration

• Mastercard Partners with Chainlink to Enable 3 Billion Users to Buy Crypto On-Chain
• Kraken Launches Krak Payments App, Enabling Global Crypto and Fiat Transactions in 110 Countries

Legal and Regulatory Affairs

• Ripple Ends XRP Lawsuit Appeal, SEC Also Expected to Withdraw

Asset Management and Institutional Moves

• Grayscale Updates Q3 2025 Altcoin Rankings: Avalanche and Morpho Join as Lido DAO and Optimism Exit

Exchange and Platform Developments

• Ledger Launches Recovery Key for Enhanced Crypto Wallet Backup Options
• OpenSea Sees Surge in Active Users Post-Launch of OS2, Despite Low Trading Volumes

Crypto Weekly Recap

Total crypto market cap: 3.25T

Crypto Fear & Greed Index: 65 (Greed)

BTC.D: 65.68%

Bitcoin:

• Weekly performance: +3.25%
• US Spot BTC ETFs: +$2.22B
• Bitcoin briefly dropped to $100K on Monday after Iran's missile strike on U.S. bases, but rebounded as oil prices fell and energy sites were spared, signaling de-escalation.
• BTC recovered to around $105K after Trump announced a ceasefire in the Israel-Iran conflict and Fed officials Bowman and Waller backed a July rate cut if inflation stayed low.
• BTC dipped again after Powell told Congress the Fed wouldn't cut rates soon and needed more inflation data first.
• BTC held steady between $106.6K and $108.2K for the rest of the week despite macro data and tariff-related headlines.
• The Israel-Iran ceasefire eased tensions, pushing BTC higher as investors sought safe havens; traditional markets had declined earlier over rate hike fears.
• PCE inflation rose 2.8% YoY, reinforcing expectations of delayed Fed cuts and triggering brief BTC volatility but sent S&P 500 to a new all-time high; Trump said he was interviewing 3–4 potential Powell replacements.
• Bitcoin exchange flows hit a 10-year low, with increased self-custody showing stronger long-term investor confidence, according to CryptoQuant.
• Long-term holders bought 800,000 BTC in a month—the highest monthly accumulation ever—within the $95K–$107K price range.
• Powell said crypto was going mainstream and maturing; Trump called Bitcoin “amazing” during a White House press briefing.
• CoinShares found 82% of wealthy investors preferred advisors offering crypto advice, though many distrusted current advisor expertise.

Ethereum:

• Weekly performance: -0.80%
• US Spot ETH ETFs: +$283.41M
• ETH hit a weekly high of $2,515 after rebounding from a low of $2,135.
• Ethereum whale activity reached an all-time high in June 2025, with major inflows to accumulator addresses.
• Over 30% of ETH supply was staked, with more than 35 million ETH locked on the Beacon Chain—an all-time high.
• Staking growth and whale accumulation drove a supply crunch, even as ETH stayed below $2,500.
• Ethereum daily transactions surged past 1.7 million, up 50% in days—the highest since January 2024; active addresses jumped from ~345K to ~594K in four days: Nansen.
• Developers proposed EIP-7782 to cut block slot time from 12s to 6s, aiming to speed up transactions and reduce costs. Proposal included cutting proposal slots to 3s and attestation/aggregation to 1.5s: Barnabé Monnot.
• Selling volume rose, showing that buyer demand was too weak to sustain upward price movement.

Altcoins:

• Public firms increased crypto holdings as part of this week’s smart money moves.
• Crypto fundraising hit $4.49B this week, signaling renewed market momentum.
• Crypto funds logged a 10-week inflow streak; ETF filings surged.
• TradFi-Crypto updates: Mastercard deal advanced, WLFI token surged, Barclays banned Binance.
• Over $2B in hacks, scams, and legal disputes rocked the crypto sector this week.
• Global policy: The Fed scrapped a key risk rule while the IRS intensified crypto tax enforcement.
• Republic planned to tokenize shares of SpaceX, OpenAI, and other private firms: WSJ.
• Aptos Labs and Jump Crypto launched a Web3 cloud storage layer.
• Ledger announced it would phase out the Nano S hardware wallet.
• CoreWeave submitted a renewed bid to acquire Bitcoin miner Core Scientific.
• Ripple expanded XRPL interoperability by integrating with Wormhole.
• Uniswap DAO prepared to vote on activating the fee switch this summer.
• PayPal-backed Magic Newton Token (NEWT) debuted on Coinbase and Binance.
• Sonic Labs launched a verification library for DAG-based consensus protocols.
• Animoca’s Moca Network introduced Moca Chain, focusing on identity features.
• Celestia’s co-founder cited a $100M war chest and six-year runway as the token plunged over 90% from its peak.
• Across Protocol was accused of draining $23M from the DAO treasury.

FHFA Explores Bitcoin Integration in Mortgage Lending Amid Housing Market Changes

The U.S. Federal Housing Finance Agency (FHFA) has requested proposals from Fannie Mae and Freddie Mac to incorporate cryptocurrency, particularly Bitcoin, into mortgage lending qualifications. Announced on June 26, 2025, this initiative aims to recognize crypto assets alongside traditional reserves, with constraints such as requiring holdings to be on U.S.-regulated exchanges and applying valuation discounts for volatility. Critics express concerns about the long-term viability of this approach amid ongoing housing market instability. If implemented, this could lead to broader integration of digital assets in various financial sectors, positioning the U.S. at the forefront of crypto-financial regulation.

Mastercard Partners with Chainlink to Enable 3 Billion Users to Buy Crypto On-Chain

Mastercard and Chainlink have partnered to enable over 3 billion Mastercard users to buy cryptocurrencies directly on-chain, announced on June 24, 2025. This integration combines traditional financial networks with decentralized protocols, using Chainlink’s Cross-Chain Interoperability Protocol (CCIP) for secure transaction data transmission. Key players include Shift4 Payments for fiat processing and ZeroHash for liquidity. The solution emphasizes user ownership and simplifies onboarding for both veterans and newcomers. Mastercard’s crypto initiatives, including stablecoin integration and self-custody cards, reflect its push towards blockchain integration, potentially reshaping the competitive landscape with Visa by offering a comprehensive fiat-to-crypto solution.

ProCap Financial Becomes a Major Bitcoin Player with 4,932 BTC Amid $1B Treasury Strategy

ProCap Financial, launched on June 23, 2025, through a $1 billion merger, has rapidly become a prominent Bitcoin-holding public company. With a goal of holding $1 billion in Bitcoin, it has already amassed 4,932 BTC, valued at approximately $527.7 million at the current market price of $107,000. Following a $385 million BTC purchase and confirming an additional 1,208 BTC acquisition, ProCap integrates crypto assets into its financial model. The company adopts an active management strategy to optimize Bitcoin reserves, reflecting rising institutional confidence in Bitcoin amid macroeconomic uncertainties. Key investors include Magnetar Capital and Mark Yusko.

Polymarket and Kalshi Raise Major Funds, Transforming Prediction Markets with $200M and $185M Rounds

Polymarket and Kalshi are reshaping prediction markets with significant funding rounds, raising $200 million and $185 million, respectively. Polymarket's valuation hits $1 billion, achieving $1 billion in monthly trading volume in May 2025 and a total trading volume of $13.89 billion. Despite U.S. business challenges, international interest grows. Kalshi, valued at $2 billion, experienced a 100-fold increase in trading volume and plans to enhance its engineering team and market offerings. Both platforms saw strong engagement during the 2024 U.S. election cycle, reflecting increasing regulatory clarity and institutional interest in prediction markets as the asset class gains prominence.

Kraken Launches Krak Payments App, Enabling Global Crypto and Fiat Transactions in 110 Countries

Kraken has launched a new peer-to-peer payments app, Krak, allowing users to send and receive payments in over 300 currencies, including crypto, across 110 countries. The app aims to disrupt traditional financial systems, offering fee-free deposits and withdrawals, similar to Cash App and PayPal. Users can create a unique "Kraktag" for transactions, facilitating easy fiat exchanges without bank accounts. Additional features include yield on Paxos' USDG stablecoin and support for Bitcoin through the Lightning Network. Kraken's expansion follows its acquisition of NinjaTrader and plans for a public offering, positioning it as a comprehensive trading platform.

Ripple Ends XRP Lawsuit Appeal, SEC Also Expected to Withdraw

Ripple has decided to close its legal battle with the SEC by dropping its cross-appeal in the ongoing XRP lawsuit, expecting the SEC to do the same. CEO Brad Garlinghouse announced this shift, emphasizing a focus on building the "Internet of Value." This decision follows a federal judge's rejection of a motion to reduce Ripple's penalty from $125 million. The original ruling in July 2023 declared that while XRP sales on public exchanges did not violate securities laws, institutional sales totaling $728 million did. This development indicates a potential easing of the SEC's crypto enforcement stance.

Grayscale Updates Q3 2025 Altcoin Rankings: Avalanche and Morpho Join as Lido DAO and Optimism Exit

Grayscale revealed its updated Top 20 altcoins for Q3 2025, including Avalanche (AVAX) and Morpho (MORPHO), while removing Lido DAO (LDO) and Optimism (OP). Avalanche gained recognition for increased transaction volume and partnerships, while Morpho doubled its total value locked and annualized fee revenue, introducing a DeFi-to-traditional finance integration. Conversely, Lido DAO faces potential competition from regulated financial products, and Optimism experienced a significant decline in Ethereum reserves. Additionally, Grayscale introduced a new sector for artificial intelligence tokens, which now encompass 24 projects with a combined market cap of $15 billion, reflecting substantial growth since 2023.

Ledger Launches Recovery Key for Enhanced Crypto Wallet Backup Options

Ledger has launched a new Recovery Key, a backup device for its Flex and Stax touchscreen wallets, enabling users to set up an offline "spare key" secured by a PIN. This device uses secure NFC technology and is part of Ledger's recovery toolkit, which includes the existing Ledger Recover service. Users can opt for one or both services or rely solely on their 24-word seed phrases. The Recovery Key's code and whitepaper are publicly available, with plans for the device to be on sale soon. Ledger has also secured its first sports jersey sponsorship with the San Antonio Spurs, showcasing its logo during the NBA Draft.