Hello dear subscribers! Today weâll be talking about two different platforms. But thatâs not all, we will be taking a look into the huge inflows the Altcoin market has seen during the last week.
In todayâs bulletin, we are covering:
Surfing the Market, with Mid Caps Indexand NEXO analysis.
Donât miss the News about Bitmex and Lazarus Group and DEXs record.
Yieldnest is under the spotlight.
A short article about Tether (USDT): the Weak Link in the Crypto Ecosystem?
After a shaky weekend, the Mid Caps Index continues defending the main horizontal support here on the $9 range. Consolidating this level as a new higher low would be really positive, but the volume remains fully vanished.
Meanwhile NEXO is defending the main $1.2 support despite the major shakeouts. Looking solid and consolidating a key range.
BitMEX Exposes Lazarus Groupâs Operational Security Failures
BitMEXâs security researchers conducted a counter-operations probe into North Koreaâs state-sponsored Lazarus Group and uncovered significant lapses in the hackersâ operational security. They identified at least one member who inadvertently revealed a real IP address tied to Jiaxing, China, and gained access to the groupâs Supabase database and tracking algorithms. This investigation also highlighted a clear division between low-skill social engineering units and more sophisticated, code-focused teams, suggesting a fragmented structure within Lazarus.
Highlights:
IP Exposure:Â A Lazarus Group hackerâs real IP address in Jiaxing, China, was uncovered after they bypassed VPN use .
Database Breach:Â BitMEX researchers accessed a Supabase instance belonging to Lazarus, revealing internal data and tools .
Tracking Tools Revealed:Â The probe exposed Lazarusâs proprietary tracking algorithms used to monitor victim activity and malware distribution .
Operational Segmentation:Â Evidence showed low-skill social engineers handling phishing, while a separate high-tech team focused on exploit development .
DEXs Capture 25% of Spot Volume, Poised to Surpass CEXs by 2028
In May 2025, decentralized exchanges captured a quarter of all global spot trading volume, a new high reflecting sustained, rapid growth. Total DEX volume reached $410.2 billion, led by PancakeSwap and followed closely by Aerodrome and PumpSwap. Industry observers view this milestone as a clear signal that trading is shifting away from centralized platforms, predicting DEXs could overtake CEXs by 2028 and dominate by 2030.
Highlights:
Record Market Share:Â DEXs hit 25% of global spot trading volume in May 2025, up from 9.3% just 18 months earlier.
Total DEX Volume:Â Overall DEX trading amounted to $410.2 billion, with PancakeSwap accounting for $171.6 billion.
Top Platforms:Â PancakeSwap led at $171.6 billion, while Aerodrome and PumpSwap each recorded nearly $15 billion in May.
Shift Drivers:Â The surge was driven by a memeâcoin frenzy, lower barriers to wallet use, and eroding trust in centralized exchanges.
Future Outlook:Â Analysts forecast DEXs will surpass CEXs by 2028 and achieve market domination by 2030 as decentralized trading gains momentum
Project Research: YieldNest
The Origins:
YieldNest is a decentralized finance (DeFi) protocol that offers liquid restaking solutions. It enables users to participate in Ethereum restaking through EigenLayer while maintaining liquidity via Liquid Restaking Tokens (LRTs). The protocol aims to simplify access to restaking strategies by consolidating them into unified assets.
The Operative:
YieldNest operates within the Ethereum restaking ecosystem, offering liquid restaking solutions that integrate with EigenLayer. By providing modular assets that combine restaking and DeFi strategies, the protocol aims to address the complexities associated with restaking and yield optimization. Its governance model and risk management framework are designed to support scalability and adaptability in the evolving DeFi landscape. YieldNest introduces MAX LRTs, which are modular assets combining restaking and DeFi strategies.
These include:
ynETHx: ETH-based strategies,
ynBTCx: BTC-based strategies,
ynUSDx: USD-based strategies,
ynBNBx: BNB-based strategies,
Each MAX LRT comprises multiple underlying strategies, offering diversified exposure. The protocol employs a modular architecture to facilitate integration and adaptability. Governance is managed by the YieldNest DAO, which oversees protocol decisions and product development. The DAO utilizes the $YND token for governance, with staking options.
Governance Models:
veYND:Â Staked YND for voting power and rewards,
sdYND:Â Liquid staking alternative via StakeDAO,
The protocolâs governance structure allows for decentralized decision-making, with plans for subDAOs to manage specific MAX LRTs.
Fundraising & Tokenomics:
YieldNest has raised a total of $5.2 million across multiple funding rounds. Investors include: Faculty Group, BACKED VC, Contango Digital Assets, Insignius Capital, Kahuna, Mozaik Capital, Rana Capital and angel investors such as Loi Luu and Michael Egorov. The emergence of restaking protocols reflects a broader trend in DeFi towards maximizing capital efficiency and composability. As the ecosystem evolves, there is a necessity for infrastructure that facilitates more accessible and diversified participation in restaking and yield-generating
Tether (USDT): the Weak Link in the Crypto Ecosystem?
Tether is the most widely used stablecoin in the market, with a daily trading volume that surpasses even Bitcoin. Itâs present on nearly every exchange, blockchain, and trading pair. But with great power comes great responsibility: Is it truly stable? Is it fully backed? And what would happen if it collapses? These are some of the questions weâll explore.
What is Tether (USDT)?
USDT is a stablecoin that claims to be backed 1:1 by U.S. dollars. It is issued by Tether Limited, a company linked to the Bitfinex exchange. Its primary use is to serve as âstable digital moneyâ for traders and users looking to avoid cryptoâs typical volatility, essentially, the crypto version of the dollar. It was launched in 2014 with the goal of maintaining a 1:1 peg with the U.S. dollar, although during critical moments, this peg is not fixed. It is currently used for trading, payments, and transfers between exchanges and users. The networks it operates on include Ethereum, Tron, Solana, among others.
Tetherâs Controversies
Since its inception, Tether has been under scrutiny due to its lack of transparency and questions around its reserves. Key concerns include:
Opaque reserves:Â for years, Tether wasnât audited by an independent firm. Its reserves included corporate bonds, commercial paper, and riskier assets, not just dollars.,
Legal investigations:Â in 2021, Tether and Bitfinex were fined by the State of New York for making misleading claims about their reserves.,
Systemic risk:Â as the most used stablecoin, a collapse of USDT could trigger a domino effect across the entire crypto market.,
Why Does It Remain Dominant?
Despite the controversies, Tether continues to lead the stablecoin market for several reasons:
High liquidity:Â itâs listed on almost every exchange and trading pair.,
Speed:Â operates on fast blockchains like Tron.,
Trust by habit:Â many traders use it simply because âitâs always been there.â,
Alternatives like USDC (Circle) and DAI (MakerDAO): offer more transparency, but have yet to dethrone USDT.,
What If Tether Collapses?
A Tether collapse could lead to serious consequences like loss of confidence in all stablecoins (domino effect), massive liquidity shock across exchanges, forced selling of other assets to cover losses and insane volatility in BTC and alts. It would be similar to the Terra (UST) crash in 2022, but on a much larger and more global scale. Conclusion Tether plays a central role in todayâs crypto ecosystem, but its actual stability remains a topic of debate. Trust in USDT relies more on habit and utility than on transparency⊠not too different from the U.S. dollar itself. As always in crypto, risk management and informed decisions are key. Itâs not about avoiding USDT, but about understanding what youâre using, and what it could mean in the long run.
Disclaimer:
I am not a financial advisor. This content is for informational and educational purposes only.
DYOR (Do your own research)
