june 6th was wild. $983M liquidations destroyed 227k traders same day JPMorgan starts BTC ETF loans. circle ipo hits $124 up 288% while blackrock buys $37.4M eth during the retail massacre.
unstoppable defi btw. 1200+ addresses compromised through basic phishing on hyperliquid. generating $600k/hour in fees when users start losing control of wallets.
mstr just did something. $STRD raise went from $250M to $1B overnight for btc buying spree. saudi central bank holding 25k+ shares, cantor with $326M position using it as sovereign bitcoin proxy.
kim yong-beom just got appointed korea's chief presidential policy secretary. first gov official at this level with real crypto knowledge. timing is interesting.
felix crossed $100M loans on HyperEVM. platform printed $600k fees in one hour yesterday. james wynn's trades now mirrored at 1/4 leverage on WOO X
the prophecy: EVERY major perp trader will have a social trading product by Q3. hyperliquid becomes the backend for an entire ecosystem of copy trading platforms
66% of all perp DEX volume flows through one platform. that platform now has lending, social trading, cross-chain yield, and superior liquidation engines
circle IPO: • $31 → $82 close (171% day one) • hit $93 intraday • 25x oversubscribed • $17-20B market cap now vs $6.9B at open
context: • USDC has $60.3B supply, 66% vs tether • tether still does $1T monthly volume (33x more profitable) • uber announces stablecoin payments same day • stablecoin regulation bill advancing to vote
crypto ETFs can now buy $CRCL. blackrock and ark already in. expect more stablecoin stocks soon.
tether's regulatory arbitrage looking expensive at these multiples
the dex dominance matters. when volume lives onchain vs cex speculation, it signals actual usage. most l2s struggle with adoption... taiko's doing $130m daily dex volume at $0.53 (down 86% from ath)
sp1 mainnet implementation coming. largest based rollup by tvl. unlock fud creating entry while metrics keep climbing