Gate Research: Hedge Funds Slash Tech Stock Exposure, BlackRock Expands Its On-Chain Dollar Strategy

• Market Commentary: BTC continued to trade in a low-range consolidation, oscillating between 58,000 and 60,000 USDT but still failing to reclaim the 60,000 USDT level. ETH slightly outperformed BTC during the session, though it remained in a broader consolidation phase. The Crypto Fear & Greed Index stood at 15, indicating "Extreme Fear."
• Trending Tokens: TAC surged 159.90%, driven by the TON–EVM interoperability infrastructure narrative. RAVE gained 35.90% amid renewed market attention and stronger community engagement. UB climbed 34.40%, supported by growing interest in the AI memory layer narrative.
• Alpha Insights: Hedge funds recorded their largest-ever weekly sell-off of U.S. technology stocks on record. The Clarity Act entered a critical two-week negotiation period and could reach a full Senate vote as early as late July. Meanwhile, BlackRock plans to integrate USDe into its $25 trillion institutional investment platform, further advancing the adoption of on-chain dollar infrastructure.

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Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Gate Team
June 30, 2026

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