Morning DDians! Crypto markets have amassed a $3.3 trillion capitalization. Euphoria has slowed down slightly, but the best is yet to come.
And so, we are back with another edition of bullish stories to make your day and spruce up your portfolio (potentially).
Here’s a glimpse of what’s in this issue –
- Suits continue to go big on sats₿
- Ethereum has joined the Big Boys chat🕴️
- Stablecoins now have a seat at the big table🤝
- Token unlocks to watch out for🔓
Bitcoin: Cryptocurrency Big Boys’ Balance Sheet Builder😎
Institutions, corporate honchos, and sovereign entities are in love wth Bitcoin. Gone are the days of tickling interest, teasing, and playing attention games. Now they are “all in.”
Public companies, investment firms, and sovereign-aligned institutions are all putting BTC on their balance sheets as if there’s no tomorrow.
“Who cares about tomorrow, when all you have is now” is the very mood.
“Fear of Bitcoin’s Supply Scarcity” got a new perspective! And an abbreviation – FOBS
And, this is what institutional “FOMO because of FOBS” looks like:
- 🇯🇵 Metaplanet now holds 8,888 BTC
- 🇺🇸 Strategy just bought 705 more BTC
- 🇺🇸 US Spot ETFs added 50,362 BTC in May alone
Metaplanet is following “Strategy’s (previously MicroStrategy) strategy” well.
The Tokyo-based self-proclaimed “Bitcoin Treasury Company” holds no regrets about starting late. This is an opportunity for all companies to leverage.
Strategy popularized it, and Metaplanet is milking it. The company has spent more than ¥122B ($780 million+) using a mix of:
- Stock issuance
- Bond sales
- Strategic debt
To do just one thing – Procure more Bitcoin.
And speaking of procuring more Bitcoin, Michael Saylor’s company is “painting the town Orange” with their latest 705 BTC purchase for a whopping $75.1 million. Strategy now holds 580K+ bitcoins with an average registered purchase cost of $70,000. That amounts to a Bitcoin net worth of just over $60 billion.
Source: @saylor
While public companies are “publicly romancing Bitcoin,” US Spot BTC ETFs are also in “absorption mode,” giving Gold ETFs a run for their money.
US Spot ETFs absorbed 50,362 BTC in May. That’s $5.25 billion worth of net inflows.
Gold ETFs, on the other hand, have experienced massive outflows.
With the latest “Bitcoin absorption spree,” US Spot Bitcoin ETFs now hold over 1.2 million BTC, which is equivalent to roughly 6.1% of the total BTC supply.
And guess the investment giant doing it faster than its peers – BlackRock.
Source: @arkham
Bitcoin ETF inflows have been net positive for five consecutive months, indicating continued institutional demand, even as BTC prices fell below $110K.
This makes us say, ‘Don’t sell your BTC.’ HODL HARD!💪
A New $425M Feather in ETH’s Cap😍
Public companies buying ETH and adding it to their balance sheets is officially a thing now.
And those who thought that the Ethereum coin was just a “gas guzzling” dApps powering, smart contract token are wringing their hands now.
Well, the joke’s on them, and ETH is having the last laugh.
SharpLink Gaming ($SBET), a publicly listed Nasdaq company, announced an “Ethereum reserve strategy” last Tuesday.
Source: sassal0x
Here are the details:
- $425M raise led by Consensys + crypto VCs like Galaxy, Arrington, Pantera, ParaFi
- Investors will receive 69M SBET shares @ $6.15
- Proceeds will be used entirely to buy ETH
- Consensys CEO Joseph Lubin named Chairman
- ETH becomes SharpLink’s primary treasury reserve asset
This is a huge win for ETH, all the more because it has always been perceived as a transaction tool to facilitate DeFi and NFT claptrap.
$SBET stock price shot up by 640% in a day, post the announcement.
Owing to the hype, it did a ~2000% pump during the week.
Source: @crypto_goos
While this was happening, ETH’s “institutional quotient” continued to rise with $286 million in fund inflows for ETH investment products.
The tide is shifting.
Institutions aren’t just buying Bitcoin anymore. They’re also considering ETH seriously.
It’s joining the leagues of macro assets.
ETH has officially become a “big boy coin” now.
Source: @doxiastudio
If you were, or still are, bearish on ETH/USD, think again, think hard.
ETH/BTC just reversed the 2.5-year downtrend on the weekly chart.
Stablecoins Are Going Mainstream too💪
“Stablecoins are no longer experimental. They’re essential.”
— Hank Huang, CEO, Kronos Research
If there’s a use case that we, from the crypto ecosystem, can truly feel proud about, it’s stablecoins. It would be all doom and gloom without them, just like the Medieval Dark Ages.
Since their inception, stablecoins have amassed more than a $250 billion market cap, with USDT controlling $153 billion of the pie, and USDC $60.9 billion.
- Over 98% of stablecoins are still USD-backed.
- Stablecoins already make up more than 1% of the global money supply.
Source: @SoSoValueCrypto
- They are the primary force powering DeFi adoption.
- With regulatory clarity finally taking shape, stablecoins are set to redefine global finance.
Speaking of regulatory clarity:
- The GENIUS Act, the U.S. Senate’s landmark stablecoin bill, mandates full USD backing, annual audits, and foreign issuer compliance.
- Hong Kong passed its very own stablecoin bill on May 21. We can see Singapore, UAE, and South Korea moving in a similar direction.
Stablecoins are not just limited to USDT and USDC. The “fiat-pegged crypto economy”, as we would like to call it, will now consist of global players. Of course, the US will still rule the roost:
- 🇺🇸 USDT, USDC (legacy leaders)
- 🇯🇵 JPY-backed stablecoins from Japanese banks
- 🇰🇷 Won-backed stablecoins
- 🇺🇸 USD1, backed by the Trump-aligned WLFI initiative
- 🏦 Bank-issued stablecoins (via consortia like Partior and Fnality) – A JPMorgan/BoA/Citi joint stablecoin project is reportedly in the works.
The stablecoin wars are officially on.
And with the $250 billion milestone already conquered, the next $250 billion may come faster than anyone expects.
$579M Worth of Token Unlocks For What?🥴
Floods are no good –neither in the actual geographical sense, nor in the crypto market sense.
Nonetheless, $579 million worth of tokens are about to flood the crypto market.
From SUI and Aptos to LayerZero and zkSync, we’re entering one of the heaviest unlock months of 2025. If you own any of these coins in your portfolio, it’s time to pay attention.
- SUI: $206M unlock (1.75% of supply) — Already happened on June 2
- LayerZero (ZRO): $64M unlock — 22.2% of total supply — June 21
- zkSync (ZK): $46M unlock — 20.9% of supply — June 18
- Saros (SAROS): $43M — 8.15% of supply — June 20
- Vana (VANA): $37M — 16.8% of supply — June 17
Apart from the above, we will see token unlocks happening in Aptos, Arbitrum, Ethena, Optimism, and Polyhedra.
Why is it important to pay attention to these token unlocks?
- High FDV tokens = high unlock risk
Several of these names have been called out in the past for inflated valuations and aggressive unlock schedules. - Retail exit liquidity or smart VC rotation?
Watch out for smart money front-running unlock dumps — especially with LayerZero and zkSync, where ~1/5th of the total supply is hitting the markets this month. - TVL ≠ Holder Confidence
Protocols enjoying hype and considerable traction don’t correlate with the price performance of underlying tokens.
We suggest that you trade your way carefully around these events.
You could be one click away from making it big or losing it all.
As a trader, you only have control over the time that you spend making decisions on your trading moves. So, look before you leap, and go after the ones that are truly worth trading your capital for. On that note, we end this issue.
Ciao, and see you in the next one!
