Cryptocurrency Markets and On-Chain Ecosystem Developments

Market Analysis

CryptoQuant recommended on June 23 that Strategy, formerly MicroStrategy, should pause further Bitcoin purchases and prioritize rebuilding cash reserves, citing rising preferred-stock dividend obligations and reduced liquidity. The recommendation, published by CryptoQuant head of research Julio

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LucasBennett·06-24 07:04

CryptoQuant Urges Strategy to Pause Bitcoin Buying, Rebuild Cash Reserves

Bitcoin OG Investors' Sales Hit Two-Year Low at 962 BTC Average, Easing Market Sell Pressure

On-Chain Data

Capital Flow

According to CoinDesk, citing CryptoQuant data, long-term bitcoin holders who have owned BTC for over five years have significantly reduced sell-offs in recent weeks. Their 90-day average bitcoin sales volume

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GateNews·06-24 06:46

Bitcoin OG Investors' Sales Hit Two-Year Low at 962 BTC Average, Easing Market Sell Pressure

Bitcoin Falls Below $62K as Tech Stocks and Crypto Sell Off Together

Bitcoin tested a two-week low near US$62,000 (AU$89,280) on Tuesday, falling about 4% over the day, as a sharp selloff in technology stocks pulled risk assets lower. The decline followed a shift in Federal Reserve policy under new Chair Kevin Warsh, whose shorter policy statement dropped forward

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LucasBennett·06-24 06:43

Bitcoin Falls Below $62K as Tech Stocks and Crypto Sell Off Together

Bitcoin Breaks $64,000 on June 23, Up 1.09% Intraday

According to Guru Club, Bitcoin broke through $64,000 on June 23, up 1.09% for the day.

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GateNews·06-24 06:43

Bitcoin Breaks $64,000 on June 23, Up 1.09% Intraday

Bitcoin Tests Two-Week Low Near $62K on Tuesday as Fed Shift Triggers Risk-Off Selling

Monetary Policy

Bitcoin tested a two-week low near $62,000 on Tuesday, falling approximately 4%, as a shift in Federal Reserve policy under new Chair Kevin Warsh sparked a broader selloff in risk assets. Ethereum, XRP, and Solana each declined at least 5%, while the Nasdaq slid toward a one-week low. Warsh's polic

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GateNews·06-24 06:42

Bitcoin Tests Two-Week Low Near $62K on Tuesday as Fed Shift Triggers Risk-Off Selling

USDD Smart Allocator Hits $20.016M in Cumulative Returns on June 24

According to USDD, the Smart Allocator mechanism for the decentralized stablecoin USDD has generated cumulative investment returns of $20.016 million as of June 24. Smart Allocator is a yield-sharing mechanism that deploys capital into quality projects to earn interest and platform rewards, with

GateNews·06-24 06:41

USDD Smart Allocator Hits $20.016M in Cumulative Returns on June 24

DWF Labs: $31B in RWAs Onchain but Under 10% Active in DeFi

Industry Reports

On-Chain Data

DWF Labs released a report finding that more than $31 billion in tokenized real-world assets is onchain, but less than 10% of that capital is active in decentralized finance. The research highlights that roughly $3 billion in RWAs circulates through lending markets, trading venues, or collateral

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DanielCarter·06-24 06:39

DWF Labs: $31B in RWAs Onchain but Under 10% Active in DeFi

DWF Labs: $31 Billion in RWAs Onchain but Less Than 10% Active in DeFi

Industry Reports

According to DWF Labs Research, $31 billion in real-world assets have been moved onto blockchains, but less than 10% of the tokenized assets—roughly $3 billion—are active in DeFi. The majority remains largely dormant in wallets as long-term positions rather than circulating through lending markets o

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GateNews·06-24 06:37

DWF Labs: $31 Billion in RWAs Onchain but Less Than 10% Active in DeFi

Hyperliquid Recommends Users Convert USDH to USDC Immediately as Stablecoin Sunsets

Partnerships & Ecosystem

Hyperliquid announced today that users should immediately convert USDH to USDC as the platform transitions to USDC as its primary stablecoin and collateral. The shift follows Coinbase becoming Hyperliquid's official USDC treasury deployer. USDH remains fully supported and tradable during the transit

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GateNews·06-24 06:33

Hyperliquid Recommends Users Convert USDH to USDC Immediately as Stablecoin Sunsets

Ethereum Foundation Cuts Budget 40% in Shift to Endowment Model

Ethereum co-founder Vitalik Buterin announced on June 23 that the Ethereum Foundation will cut its budget by roughly 40% and eliminate 54 roles as part of a restructuring toward a long-term endowment model. The organization aims to reduce annual spending from about 15% of its treasury to around 5% a

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EthanBrooks·06-24 06:33

Ethereum Foundation Cuts Budget 40% in Shift to Endowment Model

Chainlink Launches Project Pangea With 50+ Financial Institutions to Test Stablecoin-Powered FX Settlement

Partnerships & Ecosystem

Chainlink has partnered with banking and digital asset organizations from Europe and South Korea to launch Project Pangea, a collaborative initiative to test stablecoin-based foreign exchange settlement. The project brings together more than 50 financial institutions representing over $10 trillion i

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GateNews·06-24 06:32

Chainlink Launches Project Pangea With 50+ Financial Institutions to Test Stablecoin-Powered FX Settlement

Binance Co-CEO He Yi Accuses Zhu Pan of Fraud; CoinUp Clarifies His Role Amid CPX Dispute

Enforcement Actions

Security Incidents

According to Chain Catcher, Binance co-CEO He Yi accused Zhu Pan on X of attempting to commit fraud by impersonating others, including attempting to impersonate her to defraud Tron founder Justin Sun. Sun confirmed the allegations today, stating the industry should collectively resist such

GateNews·06-24 06:32

Binance Co-CEO He Yi Accuses Zhu Pan of Fraud; CoinUp Clarifies His Role Amid CPX Dispute

Ethereum Foundation Cuts Budget 40%, Eliminates 54 Roles on June 23

According to Ethereum co-founder Vitalik Buterin's statement on June 23, the Ethereum Foundation will reduce its budget by roughly 40% and eliminate 54 roles, approximately 20% of its workforce, as part of a restructuring toward a long-term endowment model. The Foundation aims to lower annual

ETH-3.49%

GateNews·06-24 06:31

Ethereum Foundation Cuts Budget 40%, Eliminates 54 Roles on June 23

MicroStrategy Dilutes mNAV Multiple to 1.1x Through ATM Share Issuance Last Week

Capital Flow

According to Jason Huang, founder of NextGen Venture, MicroStrategy diluted its mNAV multiple to 1.1x through ATM share issuance last week, reducing bitcoin holdings per share. Huang noted on X that each share now corresponds to fewer bitcoins, with the official mNAV metric having declined from its

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GateNews·06-24 06:29

MicroStrategy Dilutes mNAV Multiple to 1.1x Through ATM Share Issuance Last Week

ARB Long Liquidations Hit $750K in 24 Hours as Shorts Lose Just $7.5K

Derivatives Data

According to AMBCrypto, ARB recorded double-digit losses over the past 24 hours in the face of mounting selling pressure. Long traders absorbed $750,730 in liquidations over the period, while short positions lost just $7,480, indicating the market moved firmly against bullish bets. On-chain data re

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GateNews·06-24 06:27

ARB Long Liquidations Hit $750K in 24 Hours as Shorts Lose Just $7.5K

US House Passes Housing Bill With CBDC Ban Until 2030, Awaits Trump Approval

Regulation & Policy

The US House passed a housing bill with a central bank digital currency ban until 2030 on Jun 24. The bill now requires President Donald Trump's signature to become law.

GateNews·06-24 06:19

US House Passes Housing Bill With CBDC Ban Until 2030, Awaits Trump Approval

Catholic Leaders, US Authorities Challenge CLARITY Act on Jun 24 Over Illicit Activity Concerns

Regulation & Policy

Enforcement Actions

According to law enforcement associations, on Jun 24, Catholic leaders and US authorities challenged the CLARITY Act, raising concerns about its approach to illicit activity. Law enforcement stated that regulatory certainty should not come at the expense of accountability, transparency, victim

GateNews·06-24 06:14

Catholic Leaders, US Authorities Challenge CLARITY Act on Jun 24 Over Illicit Activity Concerns

Hong Kong SFC Reports 90% Growth in Virtual Asset ETFs to HK$4.3B Since 2024 Launch

Industry Reports

According to the Securities and Futures Commission (SFC) 2025-26 annual report released in March, Hong Kong's virtual asset market showed significant expansion. The 11 recognized spot ETFs for virtual assets reached a total market value of HK$4.3 billion, up 90% since their launch in 2024.

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GateNews·06-24 06:10

Hong Kong SFC Reports 90% Growth in Virtual Asset ETFs to HK$4.3B Since 2024 Launch

Goblin Leads Smart Money Inflows with $3K Net Flow in Past 24 Hours, Down 7.6%

Capital Flow