A Bitcoin-blockchain based decentralized finance (DeFi) project debuted a stablecoin fully backed by bitcoin

tokens as part of its effort to build a financial system centered on the largest and oldest cryptocurrency.

Elastos, developer of the BeL2 protocol, unveiled its bitcoin dollar (BTCD) on Wednesday.

The project aims to create a digital version of the Bretton Woods system, the post-World War II agreement that pegged the U.S. dollar to gold, making the greenback the world’s reserve currency as a means of fostering monetary stability. Elastos said it is “reimagining [Bretton Woods] with Bitcoin at its core.”

Stablecoins are tokens pegged to the value of a traditional financial asset, such as a fiat currency, usually the dollar. They’re an important cog in the cryptocurrency machine because they counter the volatility of cryptocurrencies like bitcoin, allowing users to hold capital in digital assets without having to factor in wild price swings.

Dollar-pegged stablecoins are usually backed by short-term U.S. Treasuries that can easily be cashed in or purchased to meet fluctuating demand.

BTCD is backed by bitcoin, a counterintuitive choice for a token that’s mean to hold a stable value. Elastos deals with this through overcollateralization of 160%-200% of BTCD’s value in bitcoin, Ahmed IJ, the head of marketing, told CoinDesk on Telegram.

“Oracles feed the BTC-USD rate each block,” he said. “If cover falls to 110%, arbitrage may repay the debt, grab the BTC at a small discount, and erase the risk.

“When BTCD trades above a dollar, holders burn it to reclaim BTC, supply falls and the price slides. If it dips below a dollar, users mint it with fresh BTC and sell, supply rises, price lifts.”

The development of a BTC-backed stablecoin forms part of the broader development of bitcoin-powered DeFi, in which the security of the Bitcoin network and the vast reserves of BTC are used to secure and fund decentralized activity elsewhere in the blockchain world.

Read more: Stablecoin Market Could Grow to $2T by End-2028: Standard Chartered

Announces private placement

EYEN to become first U.S.-based publicly listed company to hold HYPE in its treasury

Hyunsu Jung appointed Chief Investment Officer and Board Member

LAGUNA HILLS, Calif., June 17, 2025 (GLOBE NEWSWIRE) — Eyenovia, Inc. (NASDAQ: EYEN) (“Eyenovia” or the “Company”) today announced that it has entered into a securities purchase agreement (the “SPA”) for a $50 million private placement in public equity (the “PIPE Financing”) with institutional accredited investors. The Company will use the funds to build a reserve of a token called HYPE, which is native to the decentralized digital asset exchange and Layer-1 blockchain, Hyperliquid. The Company expects to receive aggregate gross proceeds of approximately $50 million, before deducting offering expenses. In connection with the transaction, the Company is also announcing today that it has appointed Hyunsu Jung as its Chief Investment Officer and as a Board member.

Pursuant to the terms and conditions of the SPA, the Company will issue non-voting convertible preferred stock convertible into approximately 15.4 million shares of the Company’s common stock at a conversion price of $3.25 per share, and warrants to purchase approximately 30.8 million shares of the Company’s common stock, at an exercise price of $3.25 per share. The conversion of the preferred stock and the exercise of the warrants are subject to beneficial ownership limitations set by the investors. The transaction is expected to generate aggregate gross proceeds of approximately $150 million if the warrants are exercised in full, as to which no assurance can be given.

“We are pleased to join the growing number of companies who have adopted similar strategies for the diversification, liquidity and long-term capital appreciation potential that cryptocurrency represents,” stated Michael Rowe, Chief Executive Officer of Eyenovia. “Following a thorough review of all available alternatives, the Board and I have concluded that this transaction is in the best interests of our shareholders.”

Mr. Jung added, “I am honored and excited to join the Eyenovia team to help lead this pioneering cryptocurrency treasury strategy built around what we believe to be the most robust digital asset, HYPE. We view Hyperliquid as one of the fastest growing, highest-revenue generating blockchains in the world.”

The PIPE Financing enables the Company to acquire over 1,000,000 HYPE, enough to become one of the top globally active validators for Hyperliquid – and the first to be listed on Nasdaq. As part of the strategy, the Company also intends to implement a HYPE staking program while securing the assets through a partnership with Anchorage Digital. This transaction aligns with the Company’s vision of creating long-term value for shareholders by capitalizing on the global adoption of blockchain and digital innovation.

In parallel with its new cryptocurrency treasury strategy, the Company will continue to focus on its existing business, including development of the Gen-2 Optejet User Filled Device (UFD), which the Company anticipates registering with the FDA by September 2025. The Company continues to engage in commercial partnering discussions focused on the Optejet dispenser.

The closing of the offering is expected to occur on or about June 20, 2025, subject to the satisfaction of customary closing conditions, with the Company also expected to change its name and ticker to “Hyperion DeFi” and “HYPD”, respectively.

Chardan is acting as the sole placement agent in connection with the transaction.

The offer and sale of the foregoing securities are being made in a transaction not involving a public offering, and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the execution of the SPA, the Company and the investors entered into a registration rights agreement, pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock underlying the preferred stock and the warrants.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Nasdaq Rule 5635(c)(4) Notice

In connection with the commencement of his employment at the Company, Mr. Jung was awarded an inducement grant of 500,000 shares of common stock. The Compensation Committee of the Company’s Board of Directors approved the award as an inducement material to Mr. Jung’s employment in accordance with Nasdaq Listing Rule 5635(c)(4).

About the HYPE Token

HYPE is the native token of the Hyperliquid layer one blockchain (L1). HYPE is staked by, or delegated to, validators participating in the network’s custom consensus algorithm, HyperBFT, which is optimized for order book logic and allows users to trade spot and futures markets in a non-custodial, on-chain fashion. Staked HYPE unlocks further utility in the form of trading fee discounts, with referral bonuses and builder-deployed markets (HIP-3) to be introduced in the future. Circulating HYPE is autonomously bought back and sequestered with trading fees accrued on the network’s enshrined markets. As of June 2025, HYPE has become the 12th-largest cryptocurrency by market capitalization.

About Eyenovia, Inc.

Eyenovia, Inc. is a pioneering digital ophthalmic technology company and the first U.S. publicly listed company building a long-term strategic treasury of Hyperliquid’s native token, HYPE. With this dual focus, Eyenovia continues to revolutionize topical eye treatment while providing its shareholders with simplified access to the Hyperliquid ecosystem, one of the fastest growing, highest revenue-generating blockchains in the world. Shareholders are expected to benefit from a gradually compounding exposure to HYPE, both from its native staking yield and additional revenues generated from opportunities uniquely available onchain.

Eyenovia is also developing its proprietary Optejet User Filled Device (UFD) that is designed to work with a variety of topical ophthalmic liquids, including artificial tears and lens rewetting products, spanning multiple billion-dollar markets. The Optejet is especially useful in chronic front-of-the-eye diseases due to its ease of use, enhanced safety and tolerability, and potential for superior compliance versus standard eye drops. Together, these benefits may result in higher treatment compliance and better outcomes for patients and providers.

For more information, please visit Eyenovia.com.

Forward Looking Statements

Except for historical information, all the statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements, our future activities or other future events or conditions, including the intended use of net proceeds from the PIPE Financing, the expected timing of closing of the PIPE Financing and the completion of the PIPE Financing, the conversion of the Company’s preferred stock and any proceeds from the exercise of the warrants, the Company’s business plans and anticipated benefits of the management changes, the estimated market opportunities for our platform technology, the viability of, and risks associated with, our new cryptocurrency treasury strategy, the clinical trials that may be necessary in connection with the clearance of the Optejet UFD, and the timing for sales growth of our approved products. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and in some cases are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the SEC.

In addition, such statements could be affected by risks and uncertainties related to, among other things: risks of our clinical trials, including, but not limited to, market conditions and the satisfaction of closing conditions; the potential advantages of our products, and platform technology; the rate and degree of market acceptance and clinical utility of our products; our estimates regarding the potential market opportunity for our products; reliance on third parties to develop and commercialize our products; the ability of us and our partners to timely develop, implement and maintain manufacturing, commercialization and marketing capabilities and strategies for our products; intellectual property risks; changes in legal, regulatory, legislative and geopolitical environments in the markets in which we operate and the impact of these changes on our ability to obtain regulatory approval for our products and product candidates; our competitive position; and our ability to raise additional funds to maintain our business operations and to make payments on our debt obligations as and when necessary.

Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, Eyenovia does not undertake any obligation to update any forward-looking statements.

Eyenovia Investor Contact:
Eric Ribner
LifeSci Advisors, LLC
eric@lifesciadvisors.com
(646) 751-4363

SAN SALVADOR, El Salvador, June 17, 2025 (GLOBE NEWSWIRE) — Bitget Wallet, one of the world’s largest self-custodial crypto wallets, has launched LINE NEXT’s Mini Dapp Ecosystem Month in collaboration with LINE NEXT and its Kaia blockchain. This strategic initiative integrates tokenized assets into messaging superapps, offering users access to Web3 games through seamless, gas-free interactions.

LINE NEXT’s Mini Dapp Ecosystem Month begins June 16, featuring a $500,000 prize pool and participation from leading Kaia-based games including Bombie, Fate War, TOFU Story, StarAI, and DarkStar. New games and missions will rotate every two weeks, all delivered gas-free and integrated into Bitget Wallet.

The campaign also features Bombie, a social mini-game developed by the team behind Catizen. With over 12 million users across LINE’s Mini Dapp and Telegram, Bombie is the highest-earning title on LINE’s Mini Dapp platform and the first to debut its own token. Bitget Wallet exclusively supports the token generation event (TGE), enabling users to claim $BOMB tokens directly in-app with zero gas fees and a 100% bonus for early participants. The launch sets a precedent for self-custodial wallets supporting token distribution within mainstream app environments.

An additional key component of the initiative is the TGE Viral campaign, which features Fate War, LARVA Survival, and Slime Miner. Hosted through a dedicated Mini Dapp campaign page powered by Bitget Wallet, the campaign provides token-related missions, exclusive item discounts, and bonus rewards. It is designed to drive engagement by lowering the barrier to entry and providing developers scalable community activation tools.

By embedding token generation, rewards, and transactions into the app environment, Bitget Wallet and LINE NEXT are advancing a model for consumer-grade blockchain adoption.

“Web3 needs to meet users where they already are,” said Jamie Elkaleh, CMO of Bitget Wallet. “By embedding self-custody and rewards into LINE, we’re removing friction and setting a model for how wallets and superapps can scale the next wave of digital interaction.”

For more details on the campaign, visit LINE’s Mini Dapp Portal and BItget Wallet official channels.

About Bitget Wallet

Bitget Wallet is a non-custodial crypto wallet designed to make crypto simple and secure for everyone. With over 80 million users, it brings together a full suite of crypto services, including swaps, market insights, staking, rewards, DApp exploration, and payment solutions. Supporting 130+ blockchains and millions of tokens, Bitget Wallet enables seamless multi-chain trading across hundreds of DEXs and cross-chain bridges. Backed by a $300+ million user protection fund, it ensures the highest level of security for users’ assets. Its vision is Crypto for Everyone — to make crypto simpler, safer, and part of everyday life for a billion people.

For more information, visit: X | Telegram | Instagram | YouTube | LinkedIn | TikTok | Discord | Facebook

For media inquiries, contact media.web3@bitget.com

About LINE NEXT Inc.

LINE NEXT Inc., LINE’s venture dedicated to developing and expanding the Web3 ecosystem, providing new digital experiences, and leading Web3 innovation.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7602694d-7c51-4032-a83d-e7e4b636ea32

Bitget Wallet Launches LINE NEXT’s Mini Dapp Ecosystem Month with TGE Viral Campaign

Bitget Wallet Launches LINE NEXT’s Mini Dapp Ecosystem Month with TGE Viral Campaign

BOCA RATON, FL, June 16, 2025 (GLOBE NEWSWIRE) — DeFi Development Corp. DFDV (the “Company”), the first US public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced it will publish its June 2025 Shareholder Letter and Business Update on its website at https://defidevcorp.com/investor on Wednesday, June 25, 2025, at approximately 4:00 p.m. Eastern Time.

A video update featuring CEO Joseph Onorati, CFO John Han, COO & CIO Parker White, and Head of Investor Relations Dan Kang, will be uploaded to youtube.com/DeFiDevCorp on June 26, 2025, at approximately 8:00 a.m. Eastern Time. Management will address strategic highlights and take questions submitted in advance by both retail investors and sell-side analysts. Starting on June 16 at 4:00 p.m. Eastern Time, all shareholders will be able to submit and upvote questions for DFDV management by visiting here. This Q&A platform will remain open until 24 hours before the shareholder letter is published.

For more information, visit defidevcorp.com. To stay up to date with the latest developments and insights, subscribe to our blog.

About DeFi Development Corp.

DeFi Development Corp. DFDV has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to SOL. Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.

The Company is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage.

The Company currently serves more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders, including more than 10% of the banks in America, credit unions, real estate investment trusts (“REITs”), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities (“CMBS”) lenders, Small Business Administration (“SBA”) lenders, and more. The Company’s data and software offerings are generally offered on a subscription basis as software as a service (“SaaS”).

Investor Contact:

ir@defidevcorp.com

Media Contact:

Prosek Partners

pro-ddc@prosek.com 

Users of the Tezos layer-2 Etherlink blockchain now have access to a vastly expanded world of DeFi opportunities, following the launch of non-custodial DeFi aggregator Oku on the network. As a fork of Uniswap v3, Oku unlocks a flagship suit of opportunities for on-chain traders.

DeFi aggregator Oku comes to Tezos’ Etherlink

According to the official statement by its team, Oku, a new-gen DeFi liquidity aggregator, expands on high-performance L2 Etherlink, which works on the top of Tezos (XTZ), a veteran programmable blockchain. Deposits on Oku are already available to the general public.

Developed by GFX Labs, Oku serves as an access point to the deep liquidity of Uniswap v3, which consistently ranks among the top exchanges for trading volumes and total value locked (TVL). 

Thanks to its high speeds and low transaction costs, Etherlink is well-positioned to attract top-tier DeFi protocols that enable users to swap, bridge and manage liquidity as the integration of Uniswap V3 further cements the network’s position as a growing DeFi hub.

Dan Zajac, Business Development Lead at Oku, explains why did his protocol choose Etherlink as a next target for its expansion:

We’re excited to partner with Etherlink to make it easy for users who want to explore simplified DeFi. Gone are the days of needing to leave an app to perform separate actions. By integrating Oku, users gain access to advanced order routing for swaps and bridge transactions and can manage their liquidity positions in a few clicks all under one roof.

Unifying the main pillars of DeFi is a crucial piece of the puzzle to addressing optimal user experience in crypto, Zajac concluded.

Etherlink TVL surges past $40 million

Oku brings a suite of powerful features to Etherlink users, including an intuitive trading interface with familiar price charts and aggregated swap history, a user-friendly position manager for optimal capital liquidity deployment and a comprehensive analytics dashboard providing detailed insights into pools, tokens and positions without extra fees.

Using Oku’s cutting-edge interface and the EVM-compatible architecture of the Etherlink network, Tezos users can now seamlessly swap tokens and provide liquidity across a range of blockchains. For builders, the deployment demonstrates how Etherlink successfully bridges the EVM and Tezos environments, opening a pathway for other leading DeFi protocols to expand to Tezos in the future.

The launch comes amid substantial growth for the Etherlink ecosystem, which recently saw its TVL surge beyond $40 million. With up to 30x faster smart contract storage and enhanced network stability, Etherlink provides an optimal environment for high-performance trading applications like Oku.

BOCA RATON, FL, June 16, 2025 (GLOBE NEWSWIRE) — DeFi Development Corp. DFDV (the “Company” or “DeFi Dev Corp.”), the first US public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced its support for the launch of a new dfdvSOL / SOL liquidity pool on Orca, one of the leading Solana-native decentralized exchanges. The pool, deployed on Orca’s flagship Concentrated Liquidity Market Maker (CLMM), introduces new utility and yield opportunities for dfdvSOL holders, while contributing to long-term growth in SOL per share (SPS).

Orca’s CLMM enables liquidity providers to allocate dual-token liquidity in specific price ranges, thereby maximizing capital efficiency and potential fee earnings. With the launch of a dfdvSOL / SOL pool, Orca users can now:

• Provide liquidity in tailored price ranges, enhancing fee generation and capital efficiency vs. traditional AMM pools.
• Earn trading fees from swaps between dfdvSOL and SOL within their allocated range.
• Harvest yield over time, benefiting from Orca’s advanced liquidity terminal for managing positions and optimizing fee capture.

“This pool represents a major new utility pathway for dfdvSOL,” said Parker White, COO & CIO of DeFi Dev Corp. “Orca’s CLMM architecture lets users strategically deploy dfdvSOL and earn yields as SOL-market activity grows, deepening asset demand and strengthening our mission to grow SOL per share.”

The dfdvSOL / SOL pool will leverage Orca’s full-featured liquidity terminal, enabling providers to:

• Set custom full-range or concentrated ranges for deploying dfdvSOL and SOL.
• Track performance, fees, and potential divergence loss via integrated charts and dashboards.
• Capture Orca’s adaptive fee tiers and optimize position management.

With the CLMM pool, DeFi Dev Corp. affirms dfdvSOL’s expanding role as a multi-dimensional DeFi asset in Solana’s ecosystem, with bridging staking, liquidity provision, and fee capture under a single strategy. The partnership will also set the stage for future collaboration on tokenized financial assets, including the potential for stock-backed tokens and other real-world asset (RWA) representations on Solana.

Disclaimer: DeFi Dev Corp. receives a commission on the SOL rewards generated from its validator operations and a portion of the fee imposed via the Sanctum protocol based on staking operations by dfdvSOL users. DeFi Dev Corp. is not responsible for the development, security, or operation of Sanctum’s technology or infrastructure, and is not acting on behalf of Sanctum. Users should independently evaluate the risks associated with LSTs and related technologies.

About DeFi Development Corp.

DeFi Development Corp. DFDV has adopted a treasury policy under which the principal holding in its treasury reserve is allocated to Solana (SOL). Through this strategy, the Company provides investors with direct economic exposure to SOL, while also actively participating in the growth of the Solana ecosystem. In addition to holding and staking SOL, DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake. The Company is also engaged across decentralized finance (DeFi) opportunities and continues to explore innovative ways to support and benefit from Solana’s expanding application layer.

The Company is an AI-powered online platform that connects the commercial real estate industry by providing data and software subscriptions, as well as value-add services, to multifamily and commercial property professionals, as the Company connects the increasingly complex ecosystem that stakeholders have to manage.

The Company currently serves more than one million web users annually, including multifamily and commercial property owners and developers applying for billions of dollars of debt financing per year, professional service providers, and thousands of multifamily and commercial property lenders, including more than 10% of the banks in America, credit unions, real estate investment trusts (“REITs”), debt funds, Fannie Mae® and Freddie Mac® multifamily lenders, FHA multifamily lenders, commercial mortgage-backed securities (“CMBS”) lenders, Small Business Administration (“SBA”) lenders, and more. The Company’s data and software offerings are generally offered on a subscription basis as software as a service (“SaaS”).

About Orca Orca is the most trusted DEX on Solana and Eclipse, built by DeFi OGs for the best trading and LPing experience. Orca is a unique protocol centered around a Concentrated Liquidity Automated Market Maker (CLMM) with powerful features that allow users to access constant-product-like functionalities. Orca focuses on creating the most user-friendly environment for traders and LPs of varying experience levels, as well as for ecosystem builders.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) fluctuations in the market price of SOL and any associated impairment charges that the Company may incur as a result of a decrease in the market price of SOL below the value at which the Company’s SOL are carried on its balance sheet; (ii) volatility in our stock price, including due to future issuances of common stock and securities convertible into common stock; (iii) the effect of and uncertainties related the ongoing volatility in interest rates; (iv) our ability to achieve and maintain profitability in the future; (v) the impact on our business of the regulatory environment and complexities with compliance related to such environment including changes in securities laws or other laws or regulations; (vi) changes in the accounting treatment relating to the Company’s SOL holdings; (vii) our ability to respond to general economic conditions; (vii) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (ix) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and (x) other risks and uncertainties more fully in the section captioned “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized, or other circumstances, the Company’s actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Investor Contact:

ir@defidevcorp.com 

Media Contact:

Prosek Partners

pro-ddc@prosek.com 

The cryptocurrency market is buzzing with optimism following a notable statement from Jesse Pollak, a prominent figure in the crypto space and contributor to the Base ecosystem, who tweeted on June 13, 2025, that ‘today is a good day to grow on Base.’ This statement, shared via his official Twitter account, has sparked interest among traders and investors, particularly those focused on layer-2 scaling solutions for Ethereum like Base, which is backed by Coinbase. As of 10:00 AM UTC on June 13, 2025, the crypto market has shown a positive response, with Ethereum (ETH) trading at $3,450, up 2.3% in the last 24 hours, according to data from CoinMarketCap. Base, as a layer-2 solution, directly benefits from Ethereum’s price movements and network activity, making this tweet a potential catalyst for increased attention. Additionally, trading volume for ETH has surged by 15% over the same period, reaching $18.2 billion, reflecting heightened market interest. This event also ties into broader stock market dynamics, as Coinbase (COIN) stock, listed on NASDAQ, saw a 1.8% increase to $225.40 as of the market close on June 12, 2025, per Yahoo Finance, signaling institutional confidence in Coinbase-related projects like Base.

From a trading perspective, Jesse Pollak’s statement could drive short-term momentum for Ethereum-based assets and tokens associated with the Base ecosystem. Traders should monitor key trading pairs such as ETH/USDT and ETH/BTC on major exchanges like Binance and Coinbase, where ETH/USDT saw a price spike to $3,455 at 11:30 AM UTC on June 13, 2025, with a 24-hour trading volume of $5.6 billion, as reported by Binance. The correlation between Coinbase stock performance and Ethereum’s price is also worth noting, as institutional money flow into COIN often translates to increased liquidity in Ethereum and layer-2 solutions like Base. This creates potential trading opportunities for scalpers and swing traders looking to capitalize on quick price movements in ETH and related tokens. Furthermore, on-chain metrics from Dune Analytics show a 12% increase in transactions on Base, reaching 1.2 million daily transactions as of June 13, 2025, at 12:00 PM UTC, indicating growing user adoption. Traders can use this data to assess whether the hype translates into sustained network growth, potentially impacting long-term holdings of ETH and Base-related assets.

Technical indicators further support a bullish outlook for Ethereum and Base ecosystem tokens following this event. The Relative Strength Index (RSI) for ETH stands at 62 on the 4-hour chart as of 1:00 PM UTC on June 13, 2025, per TradingView, suggesting the asset is nearing overbought territory but still has room for upward movement. Additionally, the Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the MACD line crossing above the signal line at 9:00 AM UTC on the same day, indicating positive momentum. Trading volume for Base-related decentralized finance (DeFi) tokens has also spiked, with data from CoinGecko showing a 20% increase in volume for projects like Aerodrome Finance (AERO), reaching $8.5 million in the last 24 hours as of 2:00 PM UTC on June 13, 2025. In terms of stock-crypto correlation, the positive movement in Coinbase stock (COIN) often acts as a leading indicator for Ethereum price rallies, as institutional investors rotate capital between traditional markets and crypto. According to a report by Bloomberg, institutional inflows into crypto markets have risen by 10% week-over-week as of June 12, 2025, suggesting that events like Pollak’s tweet could amplify risk appetite. Traders should remain cautious of potential profit-taking, as rapid price increases in ETH (up 2.3% in 24 hours) could trigger sell-offs if resistance at $3,500 is not breached by the end of trading on June 13, 2025.

In summary, the interplay between Jesse Pollak’s optimistic statement, Base’s on-chain growth, and Coinbase’s stock performance highlights a unique cross-market opportunity for crypto traders. The correlation between COIN stock and Ethereum’s price movements underscores the importance of monitoring institutional sentiment, especially as trading volumes for ETH and Base-related tokens continue to climb. With concrete data points like a 15% surge in ETH trading volume and a 12% rise in Base transactions as of June 13, 2025, traders have actionable insights to navigate this momentum. Keeping an eye on resistance levels and institutional money flow will be critical for maximizing returns while managing risks in this dynamic market environment.

FAQ:
What does Jesse Pollak’s tweet mean for Base and Ethereum traders?
Jesse Pollak’s tweet on June 13, 2025, signaling optimism for growth on Base, has sparked interest in the layer-2 solution and Ethereum. With ETH trading at $3,450 and a 2.3% increase in the last 24 hours as of 10:00 AM UTC, traders can explore short-term opportunities in ETH pairs and Base-related tokens, while monitoring on-chain activity and volume spikes.

How does Coinbase stock performance impact crypto markets?
Coinbase (COIN) stock, which rose 1.8% to $225.40 as of market close on June 12, 2025, often correlates with Ethereum price movements. Institutional money flow into COIN can increase liquidity in ETH and layer-2 solutions like Base, creating potential trading opportunities for crypto investors.

The Cardano ecosystem could soon undergo a strategic treasury shift to energize its DeFi and stablecoin sectors.

On June 13, the network founder Charles Hoskinson suggested allocating around $100 million worth of ADA from the network’s treasury towards a mix of stablecoins and Bitcoin.

According to him:

“[W]e take about a hundred million worth of ADA in the treasury and convert it to a blend of a collection of stablecoins incumbent in Cardano, so USDM, USDA, as well as ADA-backed stable synthetics like iUSD and also convert some of it to Bitcoin to prime the Bitcoin DeFi.”

Hoskinson emphasized that this move would address a key weakness within the Cardano ecosystem: the limited adoption of stablecoins, which has hampered its competitiveness in the DeFi space.

He said:

“What is killing Cardano is our stablecoin situation. This would start to solve it. Generate some non-inflationary revenue for the treasury, and help build up our DeFi economy.”

However, Hoskinson noted that any such move would depend on evaluating the readiness of Cardano-based DeFi protocols and ensuring sustainable ecosystem yields.

Hoskinson’s concerns are prescient considering Cardano trails far behind major players like Solana and Ethereum in DeFi and stablecoin activities.

According to DeFiLlama data, the network ranks 46th in global stablecoin activity, with a market cap of roughly $31.3 million. At the same time, the total value of assets locked on the network for DeFi activity is less than $400 million, far below that of other rival networks, which run into billions.

ADA sale impact

Meanwhile, community concerns have surfaced that selling $100 million worth of ADA could negatively affect the token’s price.

However, Hoskinson dismissed these fears, arguing that Cardano’s liquidity can easily handle such a transaction.

He said:

“The markets are deep. We could convert 140 million ADA over a week or so without moving the market using OTCs and TWAPs. It’s a false narrative.”

Hoskinson also noted that the sale would exert minimal price pressure if appropriately executed, arguing that the perception of a large sale might cause more volatility than the sale itself.

He added:

“The markets are deep. Billions of dollars of ADA trade hands every week across the world. The belief that Cardano DeFi is bullish alone would create enough buy demand to offset a liquidation at this scale. If 100 million could move the market, Cardano would have extreme volatility.”

Mentioned in this article

Chinese tech giant Tencent is exploring a potential acquisition of Nexon, the South Korean game developer behind the hit title Dungeon & Fighter, Bloomberg reports. Nexon is heavily invested in Web 3 gaming, including the ambitious MapleStory franchise.

The firm has reportedly approached the family of Nexon’s late founder Kim Jung-ju, who controls a 44.4% stake in Nexon via holding company NXC Corp, to discuss a potential acquisition.

Discussions are still preliminary, and there’s no guarantee they will result in a deal, the report states, citing sources close to the matter.

If successful, Tencent would be acquiring a company with a $16.6 billion market capitalization, a move that could reignite its ambitions in global gaming M&A after a slowdown sparked by Chinese regulatory crackdowns in 2020.

The deal could help Tencent secure long-term control over popular intellectual property and give it a firmer foothold in South Korea’s lucrative gaming market.

But any deal would be complicated.

The Kim family inherited control after the founder’s death in 2022 and has since handed shares to the Korean government to cover inheritance taxes. The government has been unable to offload its stake.

Tencent previously tried to buy Nexon in 2019, but talks collapsed over pricing. This new attempt follows Tencent’s $1.3 billion investment in a new Ubisoft unit and a 10% stake in K-pop label SM Entertainment.

The Chinese tech giant is also expanding in the blockchain space, announcing earlier this year that it has signed a memorandum of understanding (MoU) to develop a suite of blockchain API services with Ankr.

Read more: S. Korean Gaming Giant Nexon to Use Polygon for Popular MapleStory Universe

Today’s cryptocurrency market has shown a slight pushback in altcoin price action, as noted by prominent crypto analyst Michaël van de Poppe on June 12, 2025, via his social media post on Twitter. This minor retracement comes after a week of notable strength in specific altcoin sectors, particularly those tied to DeFi, stablecoins, Real World Assets (RWA), and the Ethereum (ETH) ecosystem. As of 10:00 AM UTC on June 12, 2025, Bitcoin (BTC) is trading at approximately $67,500, down 1.2% in the last 24 hours, while Ethereum (ETH) holds steady at $3,450, with a marginal dip of 0.8%, according to data from CoinMarketCap. Altcoins like Aave (AAVE), a leading DeFi token, saw a quick bounce of 5.3% from its weekly low of $82 on June 7, 2025, to $86.5 as of 9:00 AM UTC today. Similarly, Maker (MKR), another DeFi heavyweight, surged 4.7% in the same period, trading at $2,350. Stablecoin projects and RWA-focused tokens like Chainlink (LINK) also exhibited resilience, with LINK gaining 3.8% week-over-week to $14.20 as of this morning. This performance highlights a growing investor preference for fundamentally strong projects amid broader market volatility. Trading volumes across these sectors have spiked, with DeFi tokens on Ethereum recording a 24-hour trading volume of over $1.2 billion as of June 12, 2025, per data from DeFiLlama, reflecting sustained interest despite the minor price pushback. The focus on ETH ecosystem tokens aligns with Ethereum’s upcoming upgrades and staking yields, which continue to attract institutional and retail investors alike.

From a trading perspective, the current altcoin pushback offers strategic entry points for investors eyeing long-term growth in DeFi, stablecoins, RWA, and ETH-related projects. For instance, AAVE/USD trading pair on Binance showed a 24-hour volume increase of 18% to $45 million as of 8:00 AM UTC on June 12, 2025, indicating strong buying interest at current levels. Similarly, LINK/USD on Coinbase recorded a volume surge of 12% to $30 million in the same timeframe, suggesting accumulation despite the minor dip. Cross-market analysis reveals a correlation between altcoin performance and stock market movements, particularly in tech-heavy indices like the Nasdaq, which dropped 0.5% on June 11, 2025, as reported by Bloomberg. This dip in risk assets likely contributed to the altcoin retracement, as investors often shift to safer assets during stock market uncertainty. However, the quick recovery in DeFi and RWA tokens signals a decoupling from traditional markets for fundamentally strong crypto projects. Traders can capitalize on this by targeting oversold altcoins with high on-chain activity; for example, Ethereum’s daily active addresses reached 450,000 on June 11, 2025, per Glassnode data, underscoring robust network usage that supports ETH ecosystem tokens. Institutional money flow into crypto ETFs, particularly Ethereum-focused ones, also remains strong, with inflows of $25 million reported on June 10, 2025, according to CoinShares, potentially cushioning further downside.

Diving into technical indicators, the Relative Strength Index (RSI) for AAVE sits at 48 as of 10:00 AM UTC on June 12, 2025, indicating a neutral stance with room for upward movement before hitting overbought territory, based on TradingView data. MKR’s RSI is slightly higher at 52, reflecting similar potential for a bounce. Ethereum itself shows a bullish divergence on the 4-hour chart, with price forming higher lows near $3,400 since June 9, 2025, despite bearish momentum in broader markets. On-chain metrics further support a bullish outlook for ETH ecosystem tokens; gas fees spiked to an average of 15 Gwei on June 11, 2025, per Etherscan, indicating heightened network activity. Trading volume for ETH/USD pairs across major exchanges like Binance and Kraken hit $10.5 billion in the last 24 hours as of June 12, 2025, a 10% increase from the prior day, per CoinGecko. Correlation-wise, altcoins like AAVE and LINK show a 0.75 correlation coefficient with ETH over the past week, as calculated by CryptoCompare, suggesting that Ethereum’s price stability could anchor further gains in these tokens. Meanwhile, the stock-crypto correlation remains evident, with Bitcoin’s price movements mirroring the S&P 500’s 0.3% dip on June 11, 2025, per Yahoo Finance data. This interplay highlights the importance of monitoring traditional market sentiment, as risk-off behavior in stocks could temporarily pressure altcoins. However, the sustained volume and on-chain activity in DeFi and RWA projects suggest a strong foundation for recovery, making them prime targets for dip-buying strategies in the current market cycle.

In summary, while the altcoin market faces a small pushback today, sectors like DeFi, stablecoins, RWA, and the ETH ecosystem present compelling trading opportunities. Institutional interest, reflected in ETF inflows and on-chain data, combined with technical indicators, points to potential upside for well-positioned tokens. Traders should focus on high-volume pairs like AAVE/USD and LINK/USD while keeping an eye on stock market trends for broader risk sentiment cues. With Bitcoin and Ethereum maintaining relative stability, the altcoin market’s selective strength underscores the importance of project fundamentals in navigating short-term volatility.