ASXN Daily 16-05-2025
Market Updates
Macro, Regulation and Markets
The U.S. SEC is examining whether Coinbase overstated “verified user” figures before and after its 2021 IPO; Coinbase said on 15 May 2025 that it is cooperating with the probe. [source]
Galaxy Digital has begun talks with the SEC about issuing tokenized versions of its publicly traded shares, CEO Mike Novogratz told Bloomberg on 16 May 2025. [source]
FTX Recovery Trust will start a second distribution of more than $5 billion to eligible creditors on 30 May 2025 under the exchange’s Chapter 11 plan. [source]
On 16 May 2025, 27,000 BTC options (notional $2.76 billion; put-call ratio 1.03; max-pain $100,000) and 220,000 ETH options (notional $570 million; put-call ratio 1.36; max-pain $2,300) expired. [source]
Total liquidations reached $5.49M in the past hour, $21.34M over 4h, $82.83M over 12h, and $337.45M over 24h, with the 24h figure spanning 121,037 traders and split into $231.24M longs versus $106.21M shorts. The largest single liquidation was a $4.20M ETH-USDT swap on OKX. [source]
Exchanges and Listings
Binance Alpha listed Project MIRAI (MIRAI), Alaya AI (AGT) and SuiNS (NS) on 16 May 2025, while Binance Futures introduced a CVCUSDT perpetual contract. [source]
Developments
DEX infrastructure firm 0x acquired rival aggregator Flood on 15 May 2025 to expand its share of the $2.3 billion DEX-aggregator market; financial terms were not disclosed. [source]
BlackRock’s nearly $3 billion tokenized Treasury fund sBUIDL completed its first direct DeFi integration, becoming collateral on Euler via Securitize’s sToken framework on the Avalanche network. [source]
Bitcoin
Bitlayer’s BitVM bridge has enabled Peg-BTC (YBTC), a Bitcoin-backed token, to circulate on the Sui network, allowing holders to earn DeFi yield, Bitlayer and Sui said on 15 May 2025. [source]
Addentax Group Corp. (Nasdaq: ATXG) said on 16 May 2025 it is negotiating an $800 million stock-for-crypto deal to buy about 8,000 BTC and other tokens, including Official Trump. [source]
A research note found that Upbit’s parent company held 16,839 BTC, accumulated from trading- and withdrawal-fee revenue, as of 31 December 2024. [source]
ETFs
Wisconsin’s State Investment Board exited its 6,060,351-share position (about $321.5 million) in BlackRock’s iShares Bitcoin Trust (IBIT) during Q1 2025, while Abu Dhabi’s Mubadala expanded its stake to 8,726,972 shares worth $408.5 million, according to 13F filings released 15 May 2025. [source]
Market Data
BTC ETF
BTC ETFs total net daily flow for 15 May 2025 is +$114.9M.
Breakdown:
IBIT: +$409.7M
FBTC: –$123.7M
BITB: $0.0M
ARKB: –$132.0M
BTCO: $0.0M
EZBC: $0.0M
BRRR: $0.0M
HODL: $0.0M
BTCW: $0.0M
GBTC: –$39.1M
BTC: $0.0M
Total net daily flow: +$114.9M
Total cumulative flows to date: $42,144.1M
ETH ETF
ETH ETFs total net daily flow for 15 May 2025 is –$39.8M.
Breakdown:
ETHA: +$8.4M
FETH: –$31.6M
ETHW: $0.0M
CETH: $0.0M
ETHV: $0.0M
QETH: $0.0M
EZET: $0.0M
ETHE: –$16.6M
ETH: $0.0M
Total net daily flow: –$39.8M
Total cumulative flows to date: $12,869.7M
Sector Returns
Top Performing Sectors
Hyperliquid Ecosystem sector is up marginally, just 0.81% (PURR down 2.89%, HFUN up 2.71%).
L1 sector has risen slightly, only 0.83% on the day, with HYPE up 3.48%, AVAX down 5.82%, SUI down 1.48%.
Worst Performing Sectors
Bitcoin Ecosystem sector is down 10.93%, having the steepest pullback (ORDI down 11.85%, PUPS down 5.39%, STX up 5.99%).
Modularity sector is down 9.55% (TIA down 9.66%, ALT down 9.10%, DYM down 8.34%).
Agent sector has fallen 9.29% in the last 24 hours (GRIFF down 15.21%, AIXBT down 11.47%, VIRTUAL down 8.45%).
Token Returns
Top Performing Tokens
MNDE is up 48.58% in the past 24 hours, among the top performers in the Solana DeFi sector.
MPL is up 45.61% in the past 24 hours, among the top performers in the RWA sector.
STX is up 5.99% in the past 24 hours, among the top performers in the Bitcoin Ecosystem sector.
HYPE is up 3.48% in the past 24 hours, among the top performers in the L1 sector.
HFUN has risen 2.71% in the past 24 hours, among the top performers in the Hyperliquid Ecosystem sector.
Worst Performing Tokens
PRCL is down 17.09% in the past 24 hours, among the worst performers in the RWA sector.
ARB is down 16.82% in the past 24 hours, among the worst performers in the L2 sector.
WLD is down 16.45% in the past 24 hours, among the worst performers in the AI sector.
GRIFF is down 15.21% in the past 24 hours, among the worst performers in the Agent sector.
WIF has fallen 13.41% in the past 24 hours, among the worst performers in the Memecoin sector.
Protocol Updates
Announcing pxSOL—a high-yield LST for Solana
Protocol: Mirror
Date: 2025-05-15 15:40:25
Description: Dinero posted about pxSOL, a new high-yield liquid staking token for Solana that lets users earn validator rewards while retaining on-chain liquidity.
Synthetix sUSD Peg Update
Protocol: Synthetix
Date: 2025-05-15 13:29:58
Link: https://blog.synthetix.io/synthetix-susd-peg-update/
Description: Synthetix CC posted an update on sUSD’s dollar peg, detailing recent price deviations, added liquidity incentives, and upcoming measures to maintain stability.
Governance
Lido Whale Withdrawal Analysis: $19B DeFi Redeployment Patterns
Protocol: Aave
Date: 2025-05-16 02:17:13
Link: https://governance.aave.com/t/lido-whale-withdrawal-analysis-19b-defi-redeployment-patterns/22081
Description: WalleDAO posted an analysis of a large Lido staker’s $19 billion withdrawals and subsequent redeployment across DeFi protocols.
Chaos Labs Risk Stewards - Increase Supply Caps on Aave V3 - 05.15.25
Protocol: Aave
Date: 2025-05-15 18:31:23
Description: ChaosLabs proposed increasing supply caps for several assets on Aave V3 under its Risk Steward mandate.
[ARFC] Onboard eUSDe August expiry PT tokens on Aave V3 Core Instance
Protocol: Aave
Date: 2025-05-15 13:59:02
Description: ACI proposed adding eUSDe August-expiry principal tokens to the Aave V3 Core market.
[Gauntlet] - COMP Rewards Recommendations (Part - 1)
Protocol: Compound
Date: 2025-05-15 22:12:48
Link: https://www.comp.xyz/t/gauntlet-comp-rewards-recommendations-part-1/6773
Description: Gauntlet presented its first set of recommendations for adjusting COMP rewards distribution.
Optimism Town Hall Season 4: Growing the Superchain Through Collaborative Governance
Protocol: Optimism
Date: 2025-05-15 16:33:12
Description: gene announced the Season 4 Optimism Town Hall focused on expanding the Superchain through collaborative governance.
[BIP-XXX] Enable Aave Boosted USDN/aGHO Gauge on Balancer v3 Ethereum
Protocol: Balancer
Date: 2025-05-16 11:56:34
Link: https://forum.balancer.fi/t/bip-xxx-enable-aave-boosted-usdn-agho-gauge-on-balancer-v3-ethereum/6527
Description: TokenLogic proposed enabling a liquidity gauge for the Aave Boosted USDN/aGHO pool on Balancer v3 Ethereum.
[BIP-XXX] Sunset BAL emissions and Fee Processing on the Balancer v2 Fraxtal Deployment
Protocol: Balancer
Date: 2025-05-16 06:57:59
Description: Xeonus proposed ending BAL emissions and fee processing on the Balancer v2 Fraxtal deployment.
[BIP-XXX] Transfer and automation of vlAURA management
Protocol: Balancer
Date: 2025-05-16 06:56:30
Link: https://forum.balancer.fi/t/bip-xxx-transfer-and-automation-of-vlaura-management/6525
Description: Xeonus proposed transferring and automating the management of the vlAURA position.
[BIP-XXX] Enable Aave Boosted USDf/aGHO Gauge on Balancer v3 Ethereum
Protocol: Balancer
Date: 2025-05-15 21:23:29
Link: https://forum.balancer.fi/t/bip-xxx-enable-aave-boosted-usdf-agho-gauge-on-balancer-v3-ethereum/6520
Description: TokenLogic proposed adding a gauge for the Aave Boosted USDf/aGHO pool on Balancer v3 Ethereum.
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