ASXN Daily 27-05-2025
Market Updates
Macro, Regulation and Markets
U.S. President Donald Trump announced on 25 May 2025 that the implementation date for a 50% tariff on EU goods will be extended from 1 June to 9 July 2025, following a call with European Commission President Ursula von der Leyen. Negotiations between the parties are expected to begin shortly. [source]
Exchanges and Listings
Upbit announced listings for Hyperlane (HYPER) and RedStone (RED) trading pairs with BTC and USDT. Hyperlane is an open-source protocol for blockchain interoperability, while RedStone provides oracle infrastructure for decentralized finance. [source]
Upbit will also list Sophon (SOPH) trading pairs with KRW, BTC, and USDT. Sophon is a consumer-oriented blockchain built on the ZK Stack using zkSync’s Elastic Chain. [source]
Bybit launched support for native USDC on the Aptos network. Deposits opened on 26 May 2025, and withdrawals will begin on 29 May 2025 at 10:00 UTC. [source]
Liquid and Venture Funds
BNP Paribas Asset Management introduced tokenized money market fund shares using distributed ledger technology for cross-border transaction testing. The project is being implemented through the Allfunds Blockchain platform. [source]
Raises
Cobie’s Echo launched Sonar, a new ICO platform for public token sales, with Plasma as its first project. Plasma will offer 10% of its XPL token supply and aims to raise $50 million. [source]
Bitcoin
Semler Scientific purchased 455 BTC for $50 million at an average price of $109,801, bringing its total holdings to 4,264 BTC with a cumulative acquisition cost of $390 million. The current estimated value of its holdings is $450 million. [source]
Strategy acquired 4,020 BTC for $427.1 million at $106,237 per coin. As of 25 May 2025, the firm holds 580,250 BTC purchased at a total cost of $40.61 billion, with a year-to-date BTC yield of 16.8%. [source]
Trump Media announced a $2.5 billion Bitcoin treasury strategy, making it one of the largest BTC holdings among public companies. Crypto.com and Anchorage Digital will provide custody services. [source]
Digital asset investment products saw $3.3 billion in weekly inflows, bringing 2025 year-to-date inflows to $10.8 billion. Bitcoin accounted for $2.9 billion of the total, while Ethereum had $326 million in inflows. [source]
Ethereum
Ethereum investment products recorded $326 million in inflows last week, according to CoinShares. This contributed to a record-breaking $10.8 billion in digital asset inflows so far in 2025. [source]
Solana
Kraken, in partnership with Backed and the Solana Foundation, launched xStocks, a platform offering tokenized U.S. stocks and ETFs on Solana. Assets use the SPL token standard and will be accessible to select non-U.S. users through the Kraken app. [source]
Kalshi has added Solana as a supported asset alongside Bitcoin, USDC, and WLD. [source]
Developments
HSBC launched Hong Kong’s first blockchain-based settlement service using tokenized deposits. Ant International completed the first transaction through the system. [source]
Sui clarified that the recent incident involving Cetus was due to a bug in Cetus’s own math library, not a protocol vulnerability. Sui will allocate $10 million to audits, bug bounties, and other security enhancements. [source]
ETFs
Nasdaq submitted a 19b-4 filing to the U.S. SEC for approval of the 21Shares SUI ETF. [source]
Circle filed for an IPO on the NYSE, offering 24 million Class A shares—9.6 million from the company and 14.4 million from existing shareholders. Shares are expected to price between $24 and $26, trading under the ticker CRCL. [source]
Market Data
BTC ETF
BTC ETFs total net daily flow for 23 May 2025 is +$211.70M.
Breakdown:
IBIT: +$430.80M
FBTC: –$73.70M
BITB: $0.00M
ARKB: –$73.90M
BTCO: $0.00M
EZBC: $0.00M
BRRR: $0.00M
HODL: +$17.70M
BTCW: $0.00M
GBTC: –$89.20M
BTC: $0.00M
Total net daily flow: +$211.70M
Total cumulative flows to date: $45,154.50M
ETH ETF
ETH ETFs total net daily flow for 23 May 2025 is +$58.60M.
Breakdown:
ETHA: +$52.80M
FETH: $0.00M
ETHW: $0.00M
CETH: $0.00M
ETHV: $0.00M
QETH: $0.00M
EZET: $0.00M
ETHE: $0.00M
ETH: +$5.80M
Total net daily flow: +$58.60M
Total cumulative flows to date: $13,140.10
Sector Returns
Top Performing Sectors
Solana DeFi sector is up 4.96% over the past 24 hours (JTO, RAY, MNDE).
Agent sector is up 4.52% over the past day (VIRTUAL, AIXBT, GRIFF).
Ethereum DeFi sector has risen 1.58% in the past 24 hours (UNI, AAVE, CRV).
Worst Performing Sectors
Hyperliquid Ecosystem sector is down 5.70% over the past 24 hours (PURR, HFUN).
Privacy sector is down 3.09% over the past day (XMR, ZEC).
NFT sector has fallen 2.89% in the past 24 hours (BLUR, PENGU, TNSR).
Token Returns
Top Performing Tokens
SEND (Sui DeFi) is up 15.35% in the past 24 hours.
BLUE (Sui DeFi) is up 12.40% in the past 24 hours.
JUP (Solana DeFi) is up 11.15% in the past 24 hours.
AIXBT (Agent) is up 6.96% in the past 24 hours.
PIXEL (Gaming) has risen 5.68% in the past 24 hours.
Worst Performing Tokens
CLOUD (Solana DeFi) is down 8.21% in the past 24 hours.
MPL (RWA) is down 7.87% in the past 24 hours.
HFUN (Hyperliquid Ecosystem) is down 7.87% in the past 24 hours.
CETUS (Sui DeFi) is down 6.90% in the past 24 hours.
STX (Bitcoin Ecosystem) has fallen 6.33% in the past 24 hours.
Protocol Updates
Start Yapping on Arbitrum Everywhere
Protocol: Arbitrum
Date: 2025-05-27 14:00:25
Link: https://blog.arbitrum.io/start-yapping-on-arbitrum-everywhere
Description: Arbitrum announced that the Yapping meme coin is now live across all major Arbitrum chains, including Nova and Orbit, enabling cross-rollup access and experimentation.
Komainu Supports stETH Enabling Institutional Access to Ethereum Liquid Staking
Protocol: Lido
Date: 2025-05-27 13:39:21
Link: https://blog.lido.fi/komainu-supports-steth-enabling-institutional-access-to-ethereum-liquid-staking
Description: Lido posted that Komainu has added support for stETH, aiming to give institutional investors compliant access to Ethereum liquid staking products.
Governance
[ARFC] Asset Parameters Optimization
Protocol: Aave
Date: 2025-05-26 19:34:15
Link: https://governance.aave.com/t/arfc-asset-parameters-optimization/22178
Description: ACI proposed optimizing asset parameters in the Aave protocol, targeting risk and capital efficiency improvements.
[Direct to AIP] Onboard rsETH to Aave V3 Linea Instance
Protocol: Aave
Date: 2025-05-26 12:47:22
Link: https://governance.aave.com/t/direct-to-aip-onboard-rseth-to-aave-v3-linea-instance/22172
Description: ACI proposed onboarding rsETH to the Aave V3 Linea deployment via a direct-to-AIP process.
[ARFC] Onboard wstLINK to Aave V3 Core Instance
Protocol: Aave
Date: 2025-05-26 05:32:48
Link: https://governance.aave.com/t/arfc-onboard-wstlink-to-aave-v3-core-instance/22169
Description: ACI proposed adding wstLINK to the Aave V3 Core market, initiating a risk assessment and onboarding discussion.
Incident Report: CodeOracle memory page divergence
Protocol: ZKSync
Date: 2025-05-27 11:57:12
Link: https://forum.zknation.io/t/incident-report-codeoracle-memory-page-divergence/690
Description: the_matter_labs posted a report detailing a memory page divergence in CodeOracle and its resolution steps.
Trigger Mod: Building Permissionless Pathways by Extending the Capped Minter Framework
Protocol: ZKSync
Date: 2025-05-26 12:41:27
Description: Matt_FactoryLabs proposed extending the capped minter framework to support broader permissionless token issuance.
Post Mortem - Aerodrome cUSDO/USDC AMM LP Oracle Manipulation on Morpho Lending Market
Protocol: Morpho
Date: 2025-05-26 20:48:39
Description: ClearstarLabs published a post-mortem on an oracle manipulation incident affecting cUSDO/USDC LPs on the Morpho Lending Market.
3m Fee Waiver as Incentive. Increased Fee to Follow
Protocol: Euler Finance
Date: 2025-05-24 22:40:25
Link: https://forum.euler.finance/t/3m-fee-waiver-as-incentive-increased-fee-to-follow/1415
Description: KeyringNetwork proposed a three-month fee waiver to attract users, followed by an increase to standard fee levels.
ATOM-Backed Stablecoin and Lending Protocol Proposal (Built on Elys Network)
Protocol: Cosmos
Date: 2025-05-27 08:18:47
Description: Govmos proposed a new lending protocol using an ATOM-backed stablecoin built on the Elys Network.
[GIP-241] Activate 23 new instances, enable rsETH
Protocol: Gearbox
Date: 2025-05-26 17:53:40
Description: Gearbox posted a Snapshot vote to activate 23 new instances and enable rsETH support across deployments.
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