Your weekly pulse on markets, narratives, protocols, and policy.
Market Pulse
Compound, Uniswap and Aave surge as SEC Chair Atkins says American values are foundational for DeFi
OG DeFi tokens Compound (COMP), Uniswap (UNI), and Aave (AAVE) surged on Tuesday after Securities & Exchange Commission (SEC) Chair Paul Atkins shared his vision for decentralized finance (DeFi) regulation, where he highlighted similarities between the sector and American values.
Bank of Japan pivot to QE may fuel Bitcoin rally — Arthur Hayes
The Bank of Japan’s (BOJ) upcoming monetary policy meeting in June may provide the next significant catalyst for global risk assets like stocks and cryptocurrencies.
The BoJ is set to take its next interest rate decision at its upcoming monetary policy meeting on June 16–17.
The central bank may provide the next significant catalyst for Bitcoin and other risk assets if it pivots to quantitative easing (QE), according to Arthur Hayes, co-founder of BitMEX and chief investment officer of Maelstrom.
XRP Ledger’s Ethereum-Compatible Sidechain to Go Live in Q2
Decentralized Layer 1 blockchain XRP Ledger’s (XRPL) sidechain that’s compatible with the Ethereum Virtual Machine (EVM) is set to go live in the second quarter, Jaazi Cooper, director of product management at Ripple, and David Schwartz, Ripple’s chief technology officer said at the ongoing APEX 2025 conference in Singapore.
EVM compatibility refers to the ability of the blockchain to run Ethereum-based decentralized applications and smart contracts seamlessly.
Narratives to Watch
Is Bitcoin’s Bullish Trend Still Valid? On-Chain Metrics Say Yes
Bitcoin’s price fell suddenly, causing investors to become worried. The sudden price change occurred as President Trump and Elon Musk engaged in a media dispute. This led many to question whether BTC would continue to show a positive trend. Although its price is worrying some, BTC’s On-Chain metrics indicate it is gaining momentum.
CryptoQuant highlighted several key indicators, revealing that BTC is on an upward trend. The amount of Bitcoins kept on centralized exchanges has fallen considerably. In a week, the number of reserves dropped from 2,435,613 BTC to 2,365,410 BTC, or by 2.88%. The fall is understood to be a positive mark, meaning there is now less pressure on the market to sell.
Bitcoin’s $200K Price Forecast ‘Conservative,’ Says Bernstein
The firm cites the success of spot bitcoin ETFs, which now manage approximately $120 billion in assets, as validation of BTC’s role as a mainstream macro asset. This institutionalization is viewed as a foundational shift that reduces risk and enhances credibility. Bernstein contends that growing adoption by real-world financial entities supports long-term valuation growth. The report suggests bitcoin’s trajectory is no longer speculative but rooted in systemic integration across capital markets and investor infrastructure.
Average US house prices fall 99% in a decade when priced in Bitcoin
Two new Coinbase ads recently hit U.S. screens, reviving crypto’s populist pitch at a time when inflation is stubborn, Bitcoin is soaring, and Americans are once again talking about “building.”
One spot reframes Bitcoin as “money from the future,” while another shows how a U.S. home’s price has dropped from 30,000 BTC to just 5 BTC in little over a decade. It’s part cinematic flourish, part economic critique, and thoroughly calibrated to the moment.
Protocol Watch
Japan’s ANAP Holdings Launches Full Bitcoin Business Strategy with Goal of Over 1,000 BTC by August 2025
ANAP Holdings, Inc. (3189: Tokyo Standard Market) has officially announced the launch of its “Bitcoin Business” in a formal corporate filing, detailing an entry into Bitcoin focused operations across treasury, finance, fashion, and mining.
In a statement signed by President and CEO Yuta Sawaki, the company confirmed that its consolidated subsidiary ANAP Lightning Channel will lead the initiative, with plans to hold more than 1,000 BTC by August 2025. “We aim to strengthen our balance sheet by acquiring Bitcoin in stages as a strategic reserve asset,” the company said.
Europe’s First Bitcoin Treasury Company Raises $340M After $68M BTC Buy
Paris-based Blockchain Group, the Blockchain Treasury, announced a plan to raise $340 million on 9 June 2025. This follows its recent purchase of $68 million worth Bitcoin. As of June 2025, the company holds 1471 BTC – a significant position for a European entity – as it doubles down on its Bitcoin strategy in Europe.
Notably, the planned $340 million capital raise could potentially add over 3100 BTC to the company’s treasury.
More than 60 Companies are Following MicroStrategy’s Bitcoin Playbook
According to a new report, corporate Bitcoin acquisition is a growing trend, with 61 or more different companies purchasing the cryptoasset. Bitcoin’s steady gains are making this strategy seem very attractive.
Regulatory Radar
US Senate to Vote on GENIUS Stablecoin Bill This Wednesday
In a landmark event for the crypto industry, the U.S. Senate is set to vote on the GENIUS Act this Wednesday, June 11, marking a potential turning point for the $250 billion stablecoin market.
The GENIUS Act aims to establish the first comprehensive regulatory framework for stablecoins—particularly those pegged to the U.S. dollar. This comes amid growing interest in cryptocurrencies and blockchain-based payments. Since the beginning of this year, the crypto market has surged to historic highs, with Bitcoin and several other crypto assets seeing record price levels.
US Senate set for GENIUS stablecoin bill vote this Wednesday: Bloomberg
Senate Majority Leader John Thune has set the stage for a key procedural vote Wednesday on the GENIUS Act, a landmark piece of legislation aimed at regulating stablecoins, Bloomberg reported.
Thune filed cloture on Monday on the underlying bill — the Guiding and Establishing National Innovation for U.S. Stablecoins Act — and the bipartisan amendment to it, according to a post on X from the Senate Republican Cloakroom.
UK FCA proposes lifting ban on crypto ETNs for retail investors
The United Kingdom’s Financial Conduct Authority (FCA) has proposed lifting its ban on offering cryptocurrency exchange-traded notes (ETNs) to retail investors.
In a June 6 announcement shared with Cointelegraph, the FCA said the proposed change would allow individual consumers to access crypto ETNs, provided they are listed on an FCA-recognized investment exchange.
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