Cryptocurrency Market Performance

Currently, the total market capitalization of cryptocurrencies is $3.34 trillion, with BTC accounting for 61.55%, which is $2.06 trillion. The market cap of stablecoins is $251.7 billion, with a recent increase of 0.33% over the past 7 days, of which USDT accounts for 62.23%.

This week, BTC's price has shown range-bound fluctuations, currently priced at $106,000; ETH has also shown range-bound fluctuations, currently priced at $2,555.

Among the top 200 projects on CoinMarketCap, a small number have risen while most have fallen, including: AERO with a 7-day increase of 40.29%, KAIA with a 7-day increase of 27.7%, T with a 7-day increase of 24.32%, and PNUT with a 7-day increase of 11.06%.

This week, the net inflow for the U.S. Bitcoin spot ETF was $1.0454 billion; the net inflow for the U.S. Ethereum spot ETF was $40.3 million.

On June 20, the "Fear & Greed Index" was at 48 (lower than last week), indicating a neutral sentiment over the past week.

Market Predictions:

This week, stablecoins continued to be issued, with significant net inflows into the U.S. Bitcoin spot ETF and net inflows into the Ethereum spot ETF. Both BTC and ETH remain range-bound. The RSI index is at 40.86, indicating neutrality. The U.S. interest rate decision for June was announced in line with market expectations, hence prices did not experience significant fluctuations. The Fear & Greed Index remains neutral.

Although institutions and publicly listed companies continue to buy BTC, there is still hidden selling pressure in the market, and community sentiment has not been mobilized. Therefore, in the short term, the upward momentum appears weak, with an expected price range for BTC next week of $100,000 to $105,000. At this stage, it is recommended to accumulate small amounts on dips. In June and July, if there are no major macro policy impacts, the market will likely maintain range-bound fluctuations until the U.S. stablecoin bill is officially issued in August or the Federal Reserve cuts interest rates, at which point the market may see significant increases. "Trading junk time," you can pay attention to some new coin opportunities, as Hotcoin is not short of on-chain wealth codes worth noting.

Understanding Now

Review of Major Events of the Week

1. On June 15, Michael Saylor again released information related to Bitcoin Tracker on the X platform, stating "bigger orange dots, better," typically revealing Bitcoin accumulation data from Strategy the day after he posts Bitcoin Tracker information;

2. On June 16, Tron will go public through a reverse merger with SRM Entertainment, which is listed on Nasdaq. The deal is managed by Dominari Securities, a boutique investment bank based in New York, linked to Donald Trump Jr. and Eric Trump;

3. On June 18, the U.S. Senate passed the landmark cryptocurrency legislation known as the "GENIUS Act," aimed at promoting growth in the industry. This marks a historic lobbying victory for digital asset companies in the Senate's first vote on comprehensive regulatory reform for cryptocurrencies.

The Senate passed the bill with 68 votes in favor and 30 against, with 18 Democrats joining most Republicans in supporting its submission to the House for consideration.

This bill, led by Republican Senator Bill Hagerty of Tennessee, will establish a U.S. regulatory framework for stablecoins pegged to the value of the dollar for the first time;

4. On June 18, JPMorgan Chase & Co. will launch a pilot token called JPMD, which represents dollar deposits from the world's largest bank, indicating that financial institutions are further deepening their involvement in the digital asset space. The deposit token JPMD will be piloted on a blockchain associated with Coinbase;

5. On June 18, the VanEck Solana spot ETF has been listed on the DTCC website, with the code VSOL, showing a creation/redemption section marked as D.

Although this does not indicate that the ETF has received any regulatory approval or any clear approval process results, listing on the DTCC website is part of the "standard process" for launching a new ETF;

6. On June 17, Coinbase is seeking approval from the U.S. Securities and Exchange Commission to provide stock trading services based on blockchain;

7. On June 19, Linda Yaccarino, CEO of the social media platform "X," stated that users will soon be able to invest or trade on the platform. X is also exploring the introduction of credit or debit cards;

8. On June 20, London-based digital banking giant Revolut is actively exploring its own stablecoin issuance plan. Revolut serves 55 million individual users and 500,000 business clients across 160 countries, with a recent valuation of $48 billion. It previously launched the Revolut X cryptocurrency trading platform in the EU in 2024. Two sources confirmed that Revolut has engaged in discussions with at least one native crypto company regarding its stablecoin plan;

9. On June 20, Plasma is preparing to launch its mainnet in "late summer," which is a blockchain optimized for stablecoins;

10. On June 19, analysis of the details on the official World Liberty website shows that a company owned by Donald Trump has reduced its stake in the cryptocurrency project World Liberty Financial from 60% to 40% over the past 11 days;

11. On June 19, over 16 billion login credentials from mainstream online service providers such as Apple, Google, and Facebook were leaked, which could have serious consequences for cryptocurrency holders. Login credentials refer to usernames and passwords (or other authentication information).

Macroeconomics

1. On June 19, the Federal Reserve maintained the benchmark interest rate at 4.25%-4.50%, marking the fourth consecutive meeting without change, in line with market expectations;

2. On June 19, the Fed's dot plot indicated that the Fed still expects to cut rates by 50 basis points in 2025, but only by 25 basis points in 2026, down from a previous forecast of a 50 basis point cut. It is expected to cut rates by 25 basis points in both 2026 and 2027;

3. On June 19, the Bank of England maintained its policy rate at 4.25%, in line with market expectations, keeping rates at a more than two-year high;

4. On June 18, crypto asset management firm 3iQ launched the 3iQ XRP ETF (XRPQ) on the Toronto Stock Exchange in Canada. The 3iQ XRP ETF will launch with a 0% management fee for the first six months and can be invested through registered accounts in Canada. Its listing on the TSX allows global qualified investors to invest, subject to local regulations;

5. On June 17, Canadian listed company LQWD Technologies Corp. announced an increase in its Bitcoin holdings by 5 BTC, bringing its total holdings to approximately 166 BTC.

ETF

According to statistics, from June 16 to June 20, the net inflow for the U.S. Bitcoin spot ETF was $1.0454 billion; as of June 20, GBTC (Grayscale) had a total outflow of $23.197 billion, currently holding $19.126 billion, while IBIT (BlackRock) currently holds $70.27 billion. The total market capitalization of U.S. Bitcoin spot ETFs is $128.573 billion.

The net inflow for the U.S. Ethereum spot ETF was $40.3 million.

Envisioning the Future

Event Preview

1. NFT NYC 2026 will be held in New York, USA from June 23 to 25, 2025;

2. Permissionless IV will be held in New York, USA from June 24 to 26, 2025;

3. EthCC 8 will be held in Cannes, France from June 30 to July 3, 2025;

4. IVS2025 KYOTO will be held in Kyoto, Japan from July 2 to 4, 2025.

Project Progress

1. Chiliz's Web3 sports application and wallet Socios.com announced a collaboration with the esports club Ninjas in Pyjamas (NIP) to launch the DOJO fan token. The token issuance (FTO) will take place on June 24, 2025, and will provide rewards for fans through NIP's loyalty platform The Dojo;

2. The Cygnus stablecoin wcgUSD yield pool on Pendle will expire on June 26;

3. Spanish coffee chain Vanadi Coffee SA will request authorization to implement a Bitcoin reserve strategy at its board meeting on June 29, planning to invest over $1.1 billion in Bitcoin and obtain financing permissions. The company has already completed its first purchase, acquiring 5 BTC for $500,000.

Important Events

1. The Governor of the Bank of Korea (BOK), Lee Chang-yong, will meet with commercial bank presidents at the Bank Hall in Jung-gu, Seoul on the 23rd of this month, expected to discuss the issuance of stablecoins based on the Korean won;

2. On June 24 at 22:00, Federal Reserve Chairman Jerome Powell will deliver semi-annual monetary policy report testimony before the House Financial Services Committee;

3. On June 26 at 20:30, the U.S. will announce the number of initial jobless claims for the week ending June 21 (in ten thousand);

4. On June 27 at 20:30, the U.S. will announce the year-on-year core PCE price index for May.

Token Unlocking

1. Eigenlayer (EIGEN) will unlock 1.29 million tokens on June 25, valued at approximately $1.43 million, accounting for 0.42% of the circulating supply;

2. IOTA (IOTA) will unlock 15.1 million tokens on June 25, valued at approximately $2.42 million, accounting for 0.39% of the circulating supply;

3. Venom (VENOM) will unlock 59.13 million tokens on June 25, valued at approximately $9.58 million, accounting for 2.84% of the circulating supply;

4. Moca Network (MOCA) will unlock 2.43 million tokens on June 27, valued at approximately $173,000, accounting for 0.08% of the circulating supply.

About Us

Hotcoin Research, as the core investment research hub of the Hotcoin ecosystem, focuses on providing professional in-depth analysis and forward-looking insights for global cryptocurrency investors. We build a "trend judgment + value mining + real-time tracking" integrated service system, offering in-depth analysis of cryptocurrency industry trends, multi-dimensional assessments of potential projects, and all-day market volatility monitoring, combined with weekly live strategy broadcasts of "Hotcoin Selected" and daily news briefings of "Blockchain Today," providing precise market interpretations and practical strategies for investors at different levels. Relying on cutting-edge data analysis models and industry resource networks, we continuously empower novice investors to establish cognitive frameworks and assist professional institutions in capturing alpha returns, jointly seizing value growth opportunities in the Web3 era.

Risk Warning

The cryptocurrency market is highly volatile, and investment carries risks. We strongly recommend that investors conduct investments based on a full understanding of these risks and within a strict risk management framework to ensure the safety of their funds.

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