On June 30, Bitcoin (BTC) quickly surged from around 107,200 USDT, reaching a high of approximately 108,600 USDT, and is currently consolidating at a relatively high level; Ethereum (ETH) broke through the 2,500 USDT mark and briefly touched a high of 2,511.39 USDT. Among popular tokens, Arbitrum (ARB) benefited from DeFi activities within its ecosystem and recent new incentives, rising by 16.39%; Aave (AAVE) saw a 7.3% increase supported by strong user retention, market contributions, and record loan sizes and revenues; the emerging meme coin SPX rose by 6.62% amid improving economic data and a warming market sentiment. Additionally, the Babylon Genesis Chain will adopt a dual virtual machine model of EVM and CosmWasm to enhance BTCFi applicability; the South Korean central bank's CBDC project has been paused, shifting focus to the Korean won stablecoin; Metaplanet issued 30 billion yen in zero-interest ordinary bonds to purchase additional Bitcoin.
BTC (1.31% | Current Price 108,598 USDT): The BTC price quickly surged from around 107,200 USDT, reaching a high of approximately 108,600 USDT, and is currently consolidating at a relatively high level. The current resistance level is in the range of 108,800-109,000 USDT; if it can effectively break through, it is expected to continue to test 109,500 USDT or higher; the short-term support level is around 107,600 USDT, and if it falls below this, attention should be paid to the risk of a pullback. On June 27, the net inflow of BTC ETFs reached 501 million US dollars in a single day, with BlackRock's IBIT inflow of 153 million US dollars and Fidelity's FBTC inflow of 165 million US dollars, indicating that institutional funds are continuously increasing their positions in Bitcoin, enhancing the allocation weight of this asset.
ETH (3.17% | Current Price 2,506 USDT): After a prolonged period of narrow consolidation, ETH broke through the 2,500 USDT mark and briefly touched a high of 2,511.39 USDT. Currently, attention should be paid to whether it can stabilize above 2,500 USDT to confirm the validity of the breakout; if trading volume continues to increase and breaks through the 2,520–2,540 USDT area, it is expected to further challenge 2,560–2,580 USDT; conversely, if it falls below 2,500 USDT, short-term pullback pressure should be monitored. On June 27, the net inflow of ETH ETFs reached 77.5 million US dollars in a single day, with BlackRock's ETHA inflow of 48.1 million US dollars and Fidelity's FETH inflow of 28.9 million US dollars, indicating that institutional funds are continuously entering the market, providing strong support for short-term price stabilization.
Altcoins: Altcoins performed actively overall, with most recording gains. SUI and SOL rose by 2.02% and 1.36%, respectively, with funding rates remaining positive, indicating strong bullish sentiment in the market. Although some tokens showed slight differentiation in funding rates, the overall trend still exhibited a simultaneous increase in both volume and price, with short-term bullish momentum continuing to be released. The Fear and Greed Index reported 66 today, still in the greed range, indicating that market sentiment is optimistic but caution should be taken regarding the risk of overheating.
Macro: On June 27, the S&P 500 index rose by 0.52%, closing at 6,173.07 points; the Dow Jones index rose by 1.00%, closing at 43,819.27 points; the Nasdaq index rose by 0.52%, closing at 20,273.46 points. As of June 30, 3:00 AM (UTC), the spot price of gold was reported at 3,280 US dollars per ounce, with a 24-hour decline of 0.18%.
ARB Arbitrum (+16.39%, Circulating Market Cap 1.775 billion US dollars)
According to Gate's market data, the current price of ARB tokens is 0.3579 US dollars, up 16.39% in 24 hours. Arbitrum is a second-layer scaling solution built for Ethereum, aimed at enhancing Ethereum's functionality by reducing transaction fees and increasing transaction speed. It uses Optimistic Rollup technology to execute transactions off-chain and then publish transaction data to the Ethereum main chain for verification and settlement.
The recent strong rise in ARB prices is mainly attributed to the influx of funds and users brought by DeFi activities within the Arbitrum ecosystem and new incentive measures. With low fees and high TPS, Arbitrum has attracted a large number of developers and liquidity, with the TVL of protocols like GMX and Radiant continuing to grow, and events like "gTrade Week" amplifying trading volume, collectively driving up ARB demand. Additionally, the ecosystem project Yapyo converts user social interactions into token rewards, further boosting market enthusiasm and pushing ARB prices upward.
AAVE Aave (+7.3%, Circulating Market Cap 4.187 billion US dollars)
According to Gate's market data, the current price of AAVE tokens is 276.05 US dollars, up approximately 7.3% in 24 hours. Aave is a decentralized lending platform (protocol) built on the Ethereum blockchain, compatible with smart contracts, allowing users to borrow and lend cryptocurrencies and real-world assets (RWA) easily.
AAVE prices have steadily risen from around 250 USDT, approaching 280 USDT, especially with significant volume increases around 260 USDT and 270 USDT, indicating active fund inflows supporting the market, enhancing the reliability of the upward trend. On-chain data shows that as of June, Aave's active monthly loan volume reached a record high of 16.37 billion US dollars; in the decentralized lending market, Aave holds a 62.6% market share, significantly ahead of Morpho and Spark, reflecting strong user retention and market recognition. At the same time, AAVE's cumulative fees and revenues also reached new highs on June 21, at 1.37 billion US dollars and 223 million US dollars, respectively, providing solid fundamental support for the price increase.
SPX SPX6900 (+6.62%, Circulating Market Cap 1.245 billion US dollars)
According to Gate's market data, the current price of SPX tokens is 1.3337 US dollars, up approximately 6.62% in 24 hours. SPX6900 is an emerging MEME coin inspired by the S&P 500 index, characterized by community-driven and technological innovation, proposing an innovative SPX6900 index concept that holds 6,900 types of assets.
The price of SPX6900 has risen, mainly benefiting from improving economic data, warming market sentiment, and positive earnings news, boosting investor confidence. From a technical perspective, after a period of consolidation, the bottom is gradually rising, indicating increased buying strength, with funds willing to buy at higher price levels; the price has repeatedly broken through the key resistance near 1.3000 and reached a high of 1.3398, attracting more chasing funds, and if accompanied by increased trading volume, it further confirms the bullish trend. On the macro front, U.S. stocks have rebounded strongly since the April low and reached new historical highs, with the S&P 500 index setting a new high at the close on the 27th. As the risks for the first half of 2025 are largely cleared, from tariff pressures to improving economic data, the overall market risk appetite has been enhanced, becoming a core driver of SPX's rise.
The Babylon Genesis Chain will adopt a dual virtual machine model of EVM and CosmWasm to enhance BTCFi applicability*
The Babylon Genesis Chain will introduce an EVM and CosmWasm dual virtual machine architecture to improve compatibility and development flexibility for the BTCFi (Bitcoin Finance) ecosystem. Currently, CosmWasm has been launched on the mainnet, supporting the development of high-performance, Bitcoin-oriented smart contracts using the Rust language, which natively supports the Bitcoin core library; the EVM part is planned to go live on the mainnet from late Q3 to early Q4 of 2025, with the development network already launched and the test network to follow. Officials stated that this move will combine the rich DeFi ecosystem of EVM and the large developer community, further expanding Babylon's application scenarios and developer base within the Bitcoin ecosystem.
Through the dual virtual machine architecture, Babylon maintains a deep integration with the underlying security of Bitcoin while leveraging the ecological effects of EVM for faster application deployment. This "compatible with Bitcoin + connecting to Ethereum" strategy is expected to attract both BTCFi and DeFi developers and user groups, jointly promoting the broader application of Bitcoin assets in cross-chain scenarios and potentially allowing Babylon to gain a first-mover advantage in the BTCFi track.
The South Korean central bank's CBDC project has been paused, shifting focus to the Korean won stablecoin.
The South Korean central bank originally planned to launch the second round of CBDC (central bank digital currency) testing in the fourth quarter of this year, but due to increasing feedback issues from several banks participating in the first round of the "Han River Project" pilot, as well as recent discussions in Congress and among the public about introducing a Korean won stablecoin, it has decided to temporarily shelve the project to reduce uncertainty arising from unclear policy directions. Currently, KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, IBK Company, iM Bank, Suhyup, and K-Bank are participating in the open blockchain and DIDIA project for stablecoin issuance led by the banking sector, while Busan Bank, Gyeongnam Bank, and Toss Bank are also considering joining.
The South Korean central bank's postponement of CBDC testing essentially reflects a shift in policy focus from "state-led" to "private innovation-driven," highlighting South Korea's strategic emphasis on compliant stablecoins. With the "Virtual Asset Basic Law" lowering the threshold, stablecoins are expected to be implemented more quickly in financial payments and cross-border scenarios. Compared to a single central bank digital currency model, the Korean won stablecoin, jointly participated by multiple banks and local tech forces, is more likely to achieve scalable applications on the ecological and user side. This not only enhances the competitiveness of the Korean won in the digital economy but also allows South Korea to gain a first-mover advantage in the global stablecoin arena.
Metaplanet issues 30 billion yen in zero-interest ordinary bonds to purchase additional Bitcoin.
Japanese listed company Metaplanet announced the issuance of zero-interest ordinary bonds totaling 30 billion yen (approximately 208 million US dollars) to raise funds for purchasing additional Bitcoin. The company has newly acquired 1,005 BTC, valued at approximately 108 million US dollars, with an average purchase price of about 107,601 US dollars per coin, increasing its total holdings to 13,350 BTC, worth about 1.4 billion US dollars at current market value. This additional holding makes Metaplanet surpass Galaxy Digital (12,830 BTC) and CleanSpark (12,502 BTC), becoming the fifth-largest publicly listed company holder of Bitcoin globally.
Metaplanet's issuance of zero-interest bonds to further increase its Bitcoin holdings is another important move in its "Bitcoin Standard" strategy, reflecting that some companies are actively accumulating crypto assets by leveraging the low-interest financing environment and the capital market's enthusiasm for digital assets. With total holdings surpassing 13,000 BTC, the company's position has further risen to among the top five globally, and its Bitcoin reserves have become a core part of its balance sheet strategy. From a market perspective, this not only enhances Metaplanet's appeal to investors but also accelerates the trend of traditional financial institutions incorporating Bitcoin into their long-term strategic assets.
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