ASXN Daily 06-06-2025
Market Updates
Macro, Regulation and Markets
On 6 June 2025, 31,000 Bitcoin options (notional $3.18B) expired with a put/call ratio of 0.71 and max pain at $105,000; 241,000 Ether options (notional $590M) also expired, with a put/call ratio of 0.63 and max pain at $2,575. [source]
Strategy priced 11,764,700 shares of 10.00% Series A Perpetual Stride Preferred Stock at $85 on 5 June 2025, targeting net proceeds of about $979.7M for general corporate purposes, including further Bitcoin purchases. [source]
Stablecoin issuer Circle’s shares opened at $69 and closed at $83.23 on 5 June 2025—168% above the $31 offer price—raising $1.05B and valuing the company near $18B. [source]
Exchanges and Listings
Binance US began HYPE spot trading on 6 June 2025, allowing deposits via the HyperEVM network and offering HYPE/USDT and HYPE/USD pairs. [source]
Coinbase added Fartcoin (FARTCOIN) and Subsquid (SQD) to its public listing roadmap, signalling forthcoming support once liquidity and technical checks are complete. [source]
Binance will list Skate (SKATE) on Binance Alpha at 10:00 UTC on 9 June 2025 and launch a SKATEUSDT perpetual contract with up to 50x leverage on Binance Futures at 10:30 UTC. [source]
Raises
Metaplanet unveiled a ¥770.9B (~$5.4B) equity raise on 6 June 2025 via 555M moving-strike warrants, aiming to hold 100,000 BTC by end-2026 and 210,000 BTC by end-2027—about 1% of eventual supply. [source]
Bitcoin
At the Bloomberg Tech Summit on 5 June 2025, Uber CEO Dara Khosrowshahi said the firm is evaluating Bitcoin and stablecoins for future payment options but does not plan to hold crypto on its balance sheet. [source]
Solana
Maple Finance expanded to Solana on 5 June 2025 using Chainlink’s CCIP, seeding the launch with $500,000 in incentives and coordinating over $30M in liquidity. [source]
Hyperliquid
Hyperliquid replaced the testnet L1Write contract with a CoreWriter system contract and introduced the eth_usingBigBlocks JSON-RPC method, according to documentation updated on 6 June 2025. [source]
Developments
On 5 June 2025, LayerZero co-founder Bryan Pellegrino accused Hyperlane of inflating volumes with repetitive $24,000 transfers; Hyperlane said the activity came from reward chasers, while Pellegrino criticised its token-reward design. [source]
ETFs
Truth Social registered “Truth Social Bitcoin and Ethereum ETF, B.T.” as a domestic business trust in Nevada on 5 June 2025, laying groundwork for a dual-asset crypto ETF. [source]
The UK Financial Conduct Authority proposed on 6 June 2025 to lift its 2021 ban on crypto exchange-traded notes for retail investors, provided cETNs are listed on recognised exchanges and comply with promotion rules. [source]
Market Data
BTC ETF
BTC ETFs total net daily flow for 05 Jun 2025 is –$278.40M.
Breakdown:
IBIT: $0.00M
FBTC: –$80.20M
BITB: –$36.70M
ARKB: –$102.00M
BTCO: –$12.20M
EZBC: $0.00M
BRRR: $0.00M
HODL: –$6.50M
BTCW: $0.00M
GBTC: –$24.10M
BTC: –$16.70M
Total net daily flow: –$278.40M
Total cumulative flows to date: $44,925.90M
ETH ETF
ETH ETFs total net daily flow for 05 Jun 2025 is +$11.30M.
Breakdown:
ETHA: +$34.70M
FETH: –$23.40M
ETHW: $0.00M
CETH: $0.00M
ETHV: $0.00M
QETH: $0.00M
EZET: $0.00M
ETHE: $0.00M
ETH: $0.00M
Total net daily flow: +$11.30M
Total cumulative flows to date: $13,681.90M
Sector Returns
Worst Performing Sectors
Hyperliquid Ecosystem sector is down -13.20% over the past 24 hours (HFUN -21.14%, PURR -11.01%).
Bitcoin Ecosystem sector is down -9.32% over the past day (ORDI -9.41%, PUPS -8.86%, STX 0.26%).
Solana DeFi sector has fallen -8.84% over the past 24 hours (SAVE -19.27%, JUP -12.09%).
Token Returns
Top Performing Tokens
FART (Memecoin) is up 9.54% in the past 24 hours.
VERTEX (Perps) is up 6.04% in the past 24 hours.
TRX (L1) is up 2.67% in the past 24 hours.
ARB (L2) is up 2.18% in the past 24 hours.
BONK (Memecoin) has risen 0.56% in the past 24 hours.
Worst Performing Tokens
HFUN (Hyperliquid Ecosystem) is down 21.14% in the past 24 hours.
SAVE (Solana DeFi) is down 19.27% in the past 24 hours.
RPL (Ethereum DeFi) is down 16.09% in the past 24 hours.
GEAR (Ethereum DeFi) is down 15.03% in the past 24 hours.
LDO (Ethereum DeFi) has fallen 14.59% in the past 24 hours.
Protocol Updates
Aligning Around MORPHO — The Only Asset For Morpho
Protocol: Morpho
Date: 2025-06-06 1:45:30
Link: https://x.com/PaulFrambot/status/1930971485142761909
Description: Paul Frambot posted that the Morpho community should concentrate on a single asset, MORPHO, phasing out alternative token forms to streamline incentives and governance.
Governance
[ARFC] GHO CEX Earn Incentive Program
Protocol: Aave
Date: 2025-06-05 18:58:13
Link: https://governance.aave.com/t/arfc-gho-cex-earn-incentive-program/22284
Description: sid_areta proposed an incentive program to boost GHO deposits on centralized-exchange Earn products under the ARFC framework.
Geo-Distributed Jito Stake Delegation Process
Protocol: Jito Network
Date: 2025-06-05 22:35:58
Link: https://forum.jito.network/t/geo-distributed-jito-stake-delegation-process/782
Description: Otto outlined a process for delegating Jito stake across geographically distributed validators to strengthen network resilience.
Introducing: SyrupUSDC on Kamino
Protocol: Kamino Finance
Date: 2025-06-05 14:07:30
Link: https://gov.kamino.finance/t/introducing-syrupusdc-on-kamino/762
Description: toothfairy introduced SyrupUSDC and detailed parameters for adding the yield-bearing USDC token to Kamino.
Investor Staking Notice
Protocol: Initia
Date: 2025-06-06 05:39:47
Link: https://forum.initia.xyz/t/investor-staking-notice/273
Description: Initia_Foundation notified investors about upcoming staking options and provided key dates and requirements.
Echelon VIP score contract change proposal
Protocol: Initia
Date: 2025-06-06 04:39:08
Link: https://forum.initia.xyz/t/echelon-vip-score-contract-change-proposal/272
Description: laws proposed amending the Echelon VIP score contract to update scoring criteria and enhance fairness.
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