Son Min

Last week, global virtual asset (cryptocurrency) investment products saw an inflow of $1.03 billion (₩1.412 trillion), marking a net inflow trend for the 12th consecutive week. On the 7th (local time), CoinShares released a report stating, "Last week, virtual asset investment products saw an inflow of $1.03 billion, recording net inflows for 12 consecutive weeks," adding, "the accumulated inflow over the 12 weeks approached a total of $18 billion." It continued, "The assets under management (AUM) of virtual asset investment products reached $188 billion, hitting an all-time high." By asset, Bitcoin (BTC) products ranked first with a net inflow of $790 million. The report commented, "This week's inflow into Bitcoin products is below the previous three-week average weekly inflow of $1.5 billion," and "as Bitcoin approaches its all-time high, investors are becoming more cautious." Ethereum (ETH) products ranked second with an inflow of $226 million. The report noted, "Ethereum has recorded 11 consecutive weeks of inflows," and "investors are showing great interest in Ethereum over Bitcoin." Major altcoins also showed a positive trend. XRP and Solana (SOL) products saw inflows of $10.6 million and $21.6 million, respectively. By country, the inflow trend was particularly strong in the United States. U.S.-based virtual asset products alone saw a net inflow of about $1.025 billion, while Switzerland and Germany saw inflows of $33.7 million and $38.5 million, respectively. In contrast, Canada and Sweden recorded net outflows of $29.3 million and $19.2 million, respectively.

Hilbert Group, a virtual asset (cryptocurrency) investment firm, has reportedly raised 200 million kronor ($21 million) to stockpile Bitcoin (BTC). On the 7th (local time), Hilbert Group announced in an official press release, “We have raised 200 million kronor from a U.S. institutional investor,” and added, “The funds raised will be used for stocking up on Bitcoin and advancing our business.” The company further stated, “We ensure transparency through a virtual asset holdings dashboard and regulatory compliance reports.” Barnali Biswal, CEO of Hilbert Group, described the investment as “a significant milestone for the company’s growth.”

An analysis has emerged stating that retail investors' interest in the virtual asset (cryptocurrency) market has plummeted. On the 7th (local time), Matrixport, in a report, said, "Individual investors' interest in the virtual asset market is fading," and added, "This year, retail trading volume has reached its lowest point." According to the data, Korea's spot daily trading volume dropped sharply from about $34 billion in December last year to $775 million. Additionally, Binance's daily trading volume also reached $5 billion, hitting its lowest level since September last year. The report stated, "The slowdown in retail trading accelerated after the launch of Official Trump (TRUMP)," adding, "With a large amount of TRUMP set to be unlocked next week, the negative market sentiment could intensify." It further emphasized, "Many retail investors have now left the market. The market is in need of a new bullish catalyst."

The French-listed blockchain group 'The Blockchain Group (ALTBG)' announced that it has secured an additional 116 bitcoins. On the 7th (local time), The Blockchain Group stated in a press release, "Through a funding project, we have accumulated an additional 116 BTC," adding, "The return on Bitcoin since the beginning of the year has reached 1348%." It further stated, "This year alone, we have secured 539 bitcoins." Currently, The Blockchain Group holds 1,904 BTC.

UK-listed Smarter Web Company is reported to have additionally purchased 226 Bitcoins (BTC). On the 7th (local time), Smarter Web Company announced on its official website, "As part of our ongoing '10-year plan' to accumulate Bitcoin, we have purchased 226.42 BTC," adding, "Our current Bitcoin holdings have reached 1,000." Previously, Smarter Web Company stated, "We believe Bitcoin will become a core element of the global financial system," and added, "We intend to take the lead in executing a Bitcoin financial strategy."

In the past 24 hours, the scale of position liquidations in the perpetual futures market for cryptocurrencies reached $184.16 million. According to CoinGlass data on the 7th (local time), a total of $184.16 million in futures positions were liquidated in the cryptocurrency market over the past 24 hours. Bitcoin (BTC) surpassed $109,000, leading to more short position liquidations in the market. Specifically, $47.14 million in long positions were liquidated, while $137.01 million in short positions were liquidated. Ethereum (ETH) recorded the largest liquidation amount. In the 24-hour period, $64.14 million in Ethereum positions were liquidated, with $14.52 million in long positions and $49.62 million in short positions liquidated, respectively. Bitcoin ranked second during the same period, with $35.38 million liquidated. Liquidations amounted to $4.13 million in long positions and $31.25 million in short positions. As of 3:20 p.m., based on the Binance USDT market, Bitcoin and Ethereum are up 0.91% and 1.88%, trading at $109,151 and $2,571, respectively.

It has been reported that the Solana (SOL) and staking (deposit) Exchange-Traded Funds (ETFs) from U.S. asset managers REX Shares and Osprey Funds recorded around $8 million in trades within just 20 minutes of their debut. On the 2nd (local time), James Seyffart, a Bloomberg ETF analyst, announced via X (formerly Twitter), "The very first Solana spot staking ETF has been officially launched," and added, "It demonstrated strong activity with $8 million worth of trades occurring within 20 minutes of launch." Meanwhile, the 'REX · Osprey Solana Staking ETF' listed on the Chicago Board Options Exchange (CBOE) is the first Solana ETF in the United States.

KBC, the largest bank in Belgium, is reportedly set to launch a virtual asset (cryptocurrency) investment service. According to Cointelegraph on the 2nd (local time), KBC plans to provide Bitcoin (BTC) and Ethereum (ETH) investment services through its investment platform Bolero by the end of this year. The outlet stated, “If the service launches as planned, it will be the first case among major Belgian banks to offer virtual asset services to retail investors,” and added, “Major European banks are also gradually entering the virtual asset investment and custody markets.”

Addentax, listed on Nasdaq, is moving to acquire a large amount of Bitcoin (BTC) through a new share issuance. According to PR Newswire on the 2nd (local time), Addentax stated in a press release that it has signed agreements with multiple Bitcoin holders to acquire up to 12,000 BTC. The company plans to secure up to 12,000 BTC by exchanging newly issued shares for Bitcoin. As of 11:10 PM, Bitcoin is trading at $107,892 on the Binance USDT market, up 0.89% from 24 hours ago.

The decentralized exchange (DEX) PancakeSwap (CAKE) has recorded its highest-ever monthly trading volume. According to Cointelegraph on the 2nd (local time), PancakeSwap's monthly trading volume in June reached $325 billion, setting a new all-time high. This figure is an 87% increase compared to the $174 billion recorded in May. The trading volume for the second quarter also surged compared to the first quarter. Data from Dune Analytics showed that PancakeSwap’s Q2 trading volume neared $530 billion, more than double the first quarter’s $211 billion. The media outlet analyzed, "Ongoing updates and the introduction of new features that enhance user experience and transaction efficiency have driven the surge in trading volume." Meanwhile, on June 11 (local time), PancakeSwap launched a new feature, 'Crosschain Swaps', simplifying asset exchanges across blockchains.

The artificial intelligence (AI)-based education company Genius Group has reportedly purchased an additional 20 Bitcoins (BTC). On the 2nd (local time), Genius Group announced on its website, "With an additional purchase of 20 BTC, our total holdings have reached 120 BTC," and stated, "The average purchase price per BTC is $101,539." The company added, "Since May 22 of this year, our Bitcoin holdings have doubled in just one month," and said, "We plan to hold a total of 1,000 Bitcoins within the next six months." Previously, Genius Group had been ordered by a U.S. court in April to suspend Bitcoin purchases, but resumed buying from May.

Sweden-based health company 'H100 Group', which has adopted a Bitcoin (BTC) reserve strategy, has reportedly secured approximately 47 BTC. On the 2nd (local time), 'H100 Group' announced via X (formerly Twitter), "Today, as part of our Bitcoin reserve strategy, we additionally acquired 47.33 BTC," adding, "Our current total Bitcoin holdings amount to 247.54 units." Previously, on June 25, 'H100 Group' also purchased 19 BTC.

Mogo, a Nasdaq-listed Canadian fintech company, has announced its Bitcoin (BTC) accumulation strategy. According to Business Wire on the 2nd (local time), Mogo stated in a press release that it "plans to accumulate up to $50 million worth of Bitcoin." Greg Feller, Co-Founder of Mogo, said, "We have continued our commitment to Bitcoin," and added, "With this accumulation announcement, we will steadily accumulate Bitcoin."

There has been a claim that $10 billion could flow into the Ethereum (ETH) spot Exchange-Traded Fund (ETF) in the second half of this year. On the 2nd (local time), Matt Hougan, Chief Investment Officer (CIO) of Bitwise, stated on X (formerly Twitter), "Inflow into the Ethereum spot ETF will be even stronger in the second half," adding, "Traditional financial investors understand that stablecoins and others operate based on Ethereum." He continued, "The Ethereum spot ETF attracted $1.17 billion in June alone," and "(If this trend continues), $10 billion could be invested in the second half of the year."

Cipher Mining, a Bitcoin (BTC) mining company listed on Nasdaq, mined 160 BTC in the past month. On the 2nd (local time), Cipher Mining announced on X (formerly Twitter) that "about 160 BTC was mined last month, and 58 BTC was sold," adding, "The company currently holds 1,063 Bitcoins." As of 9:25 PM, Bitcoin is trading at $107,211 on the Binance USDT market, up 0.77% compared to 24 hours ago.

Swedish cryptocurrency broker K33, which announced its Bitcoin (BTC) financial strategy, has reportedly added 10 more Bitcoins (BTC) to its holdings. On the 2nd (local time), K33 stated in a press release, "We have added 10 BTC to our reserves using 10 million Krona (approximately $1.05 million)," adding, "We are currently holding 35 BTC." They further stated, "We plan to continue purchasing Bitcoins through ongoing investment rounds." K33 CEO Torbjørn Bull Jenssen said, "We will continue to strengthen the company's financial structure centered on Bitcoin," adding, "Our goal is to hold at least 1,000 Bitcoins."

Metaplanet generated ¥1,097,250,000 (₩10.3 billion) through Bitcoin (BTC) during the past second quarter. On the 2nd (local time), Metaplanet announced in its official press release, "Revenue from the Q2 Bitcoin revenue-generating business reached ¥1,097,250,000, a 42.4% increase from the previous quarter," adding, "All profits were used to purchase Bitcoin, bringing the total holdings to 13,350 BTC." Metaplanet is known to have generated this revenue by selling cash-secured Bitcoin put options. Simon Gerovich, CEO of Metaplanet, stated on X (formerly Twitter), "The sharp increase in the company's profits demonstrates the strength of a business model based on Bitcoin."

German fintech company Ivy has added the US dollar-based stablecoin USDC to its real-time payment infrastructure. According to CoinDesk on the 2nd (local time), Ivy announced in a press release, "We have added USDC and EURC (euro-based stablecoin) to our real-time payment infrastructure," adding, "This will facilitate corporate fund settlements and stablecoin exchanges across Europe." Ferdinand Davids, CEO of Ivy, stated, "Real-time payment infrastructure and stablecoins must go hand in hand," and "Users will be able to instantly use fiat currency as USDC and EURC."

There is an argument that the surge in global M2 (financial products issued by depository institutions, cash currency, demand deposits, and deposits with maturities under two years) could act as a favorable factor for the cryptocurrency market. On the 2nd (local time), CoinDesk cited data from Barchart.com, stating, "By the end of May, the global M2 supply surpassed $21.94 trillion, exceeding the previous peak of $21.72 trillion recorded in March 2022," and "the annual growth rate of M2 also remains at its highest level since 2022." They further explained, "In general, increases in global M2 can strengthen investment sentiment towards risk assets," adding that "this can serve as a positive factor for the cryptocurrency market, including Bitcoin (BTC)." However, it was noted that an excessive increase in M2 could become a reason for raising interest rates. The report stated, "If the speed of money growth outpaces economic growth, it may lead to inflation," and "this could provide grounds for the Federal Reserve System (Fed) to raise interest rates."

An analysis has emerged suggesting that Bitcoin (BTC) could climb to $135,000 in the third quarter of this year. Additionally, it is forecasted to reach $200,000 by the end of the year. According to Cointelegraph on the 2nd (local time), Standard Chartered (SC) stated in a report, "The number of companies accumulating Bitcoin is increasing, and strong inflows into spot ETFs continue," adding, "Bitcoin is expected to reach $135,000 by the end of Q3 this year, surpassing its all-time high." The report further noted, "It could even exceed $200,000 by year-end." SC particularly assessed that Bitcoin's halving cycle has become irrelevant. The report said, "Bitcoin has now broken the pattern of declining within 18 months after each halving," and "this is due to strong buying momentum from companies and spot ETFs supporting the price increase." It continued, "This is a phenomenon not seen in previous halvings. If the usual pattern held, a dip around September this year would have been expected." However, it was noted that short-term corrections are possible. The report stated, "Some volatility may occur between the end of Q3 and early Q4," explaining, "this is because concerns over a traditional halving correction pattern could trigger selling." Meanwhile, Standard Chartered maintained its long-term outlook that Bitcoin could reach $500,000 by 2028.