TL;DR

Circle IPO surges; Bitcoin tops $106K on corporate buys; ETH ETFs see record inflows.

Highlights

• Circle’s IPO surges 163%, valuation tops $20B; SBI invests $50M; stablecoin supply hits $240B, Tether retains 62% market share17.
• Metaplanet raises $5.4B to target 210,000 BTC by 2027; Strategy Inc. expands preferred stock offering to $1B, now holds 580,955 BTC; Bitcoin trades above $106,00029.
• U.S. spot Ethereum ETFs post 15 straight days of inflows ($281M weekly); BlackRock’s ETHA nears $5B in net flows; ETH ETF inflows outpace Bitcoin ETF outflows5.
• Binance holds $110B in reserves, regains 50%+ market share; Coinbase leads with $129B; Hyperliquid hits $248B May volume, over 10% of Binance’s perpetuals flow4.
• ALEX Protocol exploited for $8.37M, token drops 45%; Cetus Protocol relaunches after $220M hack, restores 50% TVL on Sui with $37M Sui Foundation loan38.
• Avalanche transactions up 326% on gaming and ARENA rally; BNB Chain hits 15.6M daily transactions, prepares Maxwell upgrade; Algorand and TRON report strong growth12.
• Cybersecurity: over 20 malicious wallet apps found on Google Play; mobile security incidents linked to Chinese hackers and poor event security1314.
• Kidnappings targeting crypto executives drive increased insurance demand and new asset protection practices15.
• Whale activity: multi-billion-dollar BTC , SOL , ETH , and LINK transfers; James Wynn reportedly loses $100M on leveraged trades17.
• Binance Alpha raises airdrop thresholds amid $32K trading volume requirements and MEV attack losses; users adopt advanced strategies to optimize rewards16.
• $ANIME tops Upbit volume with $500M traded in 24 hours, up 60% in 30 days; AnimeChain and Anime[.]com launch10.
• Yapyo launches on Arbitrum with $YAPYO token, targets attention economy, gains 6,000+ followers in two hours11.

Commentary

Circle’s IPO and subsequent valuation spike, alongside a $50M investment from SBI, underscores surging institutional interest in stablecoin infrastructure1. The global stablecoin supply now stands at $240B, with Tether maintaining dominance and Ripple’s RLUSD gaining traction17. This growth is attracting attention from major tech firms and policymakers, and is directly supporting increased activity on Ethereum and its Layer 2s1719.

Bitcoin ’s price strength above $106,000 is being reinforced by aggressive corporate accumulation29. Metaplanet’s $5.4B raise and Strategy Inc.’s continued expansion of its BTC treasury exemplify the ongoing trend of public companies using equity and debt to amass large Bitcoin positions218. This is mirrored by persistent whale activity and significant on-chain transfers across BTC , SOL , ETH , and LINK , with some traders facing steep losses on high leverage17.

Ethereum is seeing a decisive shift in sentiment, with spot ETH ETFs posting sustained inflows and BlackRock’s ETHA nearing $5B in net flows5. This contrasts with Bitcoin ETF outflows and signals growing institutional comfort with ETH as a portfolio asset5. The stablecoin boom is also fueling Ethereum network activity and Layer 2 adoption719.

DeFi and altcoin markets remain volatile. The ALEX Protocol and Cetus exploits highlight ongoing security risks, but rapid relaunches and compensation plans indicate improved incident response38. Network activity is robust across Avalanche , BNB Chain , Algorand, and TRON , driven by gaming, new dApps, and protocol upgrades12. Meanwhile, meme and attention tokens ($ANIME, $YAPYO) are capturing outsized trading volumes, though these remain highly speculative1011.

Security threats are intensifying, with malicious wallet apps and mobile exploits targeting users and event participants1314. Physical risks, such as executive kidnappings, are prompting new asset protection and insurance measures15. Traders should stay alert to protocol upgrades, ETF flows, and security developments, and maintain caution around speculative tokens and new platforms.