Truth Social plans to list a dual BTC and ETH ETF with a 75% Bitcoin and 25% Ethereum allocation to accelerate the mainstream adoption of crypto assets; Infini terminates the Infini Card services to focus on wealth management, pledging refunds to protect user rights. Crypto Market Update: BTC rebounded to 107,125 USDT, ETH fluctuated broadly, and altcoins showed mixed performance. Tokens such as PENDLE, ZKJ, and HYPE performed strongly, with increasing attention on DeFi and cross-chain technologies. On the macro front, easing tensions in the Middle East, a rebound in U.S. stocks, and a retreat in safe-haven assets were noted. Gate Launchpool is promoting KAI Battle of Three Kingdoms, offering 13 million SGC tokens as rewards for staking BTC or SGC.
- Market Commentary: The crypto market volatility intensified. After a brief dip to $103,000, Bitcoin rebounded to $107,125 and may remain range-bound in the short term. ETF net inflows reached $408 million. Ethereum's price held steady at $2,578, maintaining consolidation, while the ETH/BTC ratio dropped to 0.024. Altcoins saw mixed results; the Fear and Greed Index stood at 53, signaling a neutral-to-bullish sentiment. Middle East tensions eased, U.S. stocks rebounded with the Nasdaq rising over 1.5%, and gold and oil prices softened. The market remains resilient with institutional buying support, though geopolitical and regulatory developments require close monitoring.
- Popular Tokens: PENDLE rose by 7.17% to $4.03, with stablecoins accounting for over 80% of its TVL, benefiting from the stablecoin yield boom. ZKJ surged by 25.52% to $0.4337, supported by zkBridge crossing 20 million transactions and a buyback program boosting confidence. HYPE increased by 3.19% to $43.02, driven by Hyperliquid's high L1 trading volume and low fees, along with airdrops and buybacks pushing prices up. DeFi and L1 sectors remain hot but investors should be cautious of volatility and competitive risks.
- Alpha Insight: Backpack now supports USDC and ETH on Arbitrum, moving toward a multi-chain ecosystem, with plans to add more chains to enhance competitiveness. Truth Social's dual BTC/ETH ETF could accelerate crypto mainstream adoption but faces SEC approval challenges. Infini's discontinuation of the Infini Card service aims to refocus on wealth management with refund commitments, requiring transparent communication to rebuild trust. Multi-chain interoperability and regulatory compliance remain key; investors should follow updates closely.
- Gate Launchpool: The ongoing KAI Battle of Three Kingdoms token event offers 13 million SGC rewards until June 19 at 20:00. Participants can stake BTC or SGC to join for free. The project leverages SEGA's Three Kingdoms IP for a strategy blockchain game, with SGC used for card pack purchases and trades. The Asian market response is strong, offering low-barrier access to blockchain gaming gains, but market and project risks should be noted.
Explore more → Gate Research: Truth Social Files for Dual Bitcoin and Ether ETF; Infini Shuts Down Card Services
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Cryptocurrency investments involve significant risk. Users should conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not liable for any losses or damages resulting from such decisions.
Gate Team
June 17, 2025
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