🧐 Impending Doom, Or Joyful June?

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GM to all the newly minted geopolitical experts.

What a week or two. Elon calls Trump a pedo named in the Epstein files, and now, all of a sudden, everyone thinks we`re heading into World War III.

Of course, BTC, as the most reflexive asset on Earth, enjoyed a historical 14 hourly red candle ride yesterday, and is now slaving away to whatever Trump or Benjamin tweets next.

On the one hand, you’ve got to admire Bitcoin’s resilience in the face of potential global meltdown. On the other, Polymarket odds for the U.S. joining Israel’s war are climbing a little too quickly for comfort.

For now, we simply continue to be stuck in the same range. Nevertheless, there is more pressure on the downside now as we have a daily close below $106.5k. This can change quickly again.

There are multiple volatility events ahead this week (see yesterday`s commentary), and if we get some more dumps, it would be wise to watch the Fear and Greed index. If we dip into the red zone again, I will personally simply buy and go touch grass for the rest of the summer.

It might not be that easy, though. At the moment, a large portion of the timeline is already stuck on the same side, shouting about an imminent WWIII, which means we`re one de-escalatory headline away from a joyful recovery.

Maybe it’s best to sit tight, stay calm, and let it all play out. If you ask me, I’m still bullish for this year, and considering the liquidity cycle, maybe even into 2026. Let’s see.

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The important bits.

• Ondo announces a Global Markets Alliance, check out all projects here

• Fuel announces Fuel Forge, a 3-week fully paid developer refuge on Costa Rica, apply here

• IMF Credit adds JOE memecoins for lending and borrowing, try it out here

• Neko airdrops NEKO to Hyperliquid users, check your allocation here

• Clearpool announces 26% yields for stablecoins, more info here

• Kraken`s INK token is set to launch, read the full breakdown here

• Dinero announces ultraETH, the main ETH LST for the Optimism ecosystem

• Eigen Layer announces the Eigen Cloud platform, full announcement here

• KittenSwap ends the point season and distributes OG points, check your allocation

Even more important bits.

• Iranian Crypto Exchange Nobitex suffers $48.65 Million hack

• Iranian bank Sephah was hacked, user data erased, withdrawals disabled

• JP Morgan to pilot a JPMD deposit token on Base

• Nasdaq-listed Eyenovia has announced a $50M investment to acquire over 1M HYPE

Charts and stats of the day.

• The share of BTC held for 6–12 months has doubled

• Insider selling metric hits record levels

• Tether generates more in profit than the entire annual tax revenue of most countries

• Oil prices rise over 5% following reports US is planning to join the war against Iran

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See what whales are buying, follow top-performing traders, and analyze token trends before the crowd.

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HYPE/USDT.P Bybit 4H

I’m long HYPE again - it’s failed to break down and I entered at $39,30 earlier. Basically I’m fading geopolitical risk, which is a timing game, but I think we’re seeing the beginning of the end of the US sabre-rattling. The Russians are clearly against the US entering the war, threatening reprisals - meaningful or not, it will rally their allies to say the same. An Iranian government plane took off recently for negotiations in Oman.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

GENIUS Act about to pass? All eyes on Curve.

A massive U.S. stablecoin bill, the GENIUS Act (here`s a nice summary), will most likely pass by August.

While supercharging Circle and Coinbase, it`s still questionable how exactly this will affect stablecoins and DeFi as a whole, but as we know, the narrative alone is all crypto needs.

Because of this, it`s wise to watch Curve Finance, the true home of stablecoins. While this current dip might take CRV a bit lower, it is hard to imagine it will not run hard eventually.

What`s even more interesting here is CVX, which controls 50% of locked FXN, 51% of locked CRV, 35% of FXS, and 28% of RSUP. Notably, Convex makes around $6m in real revenue, which is set to increase as the DeFi narrative grows (currently up almost 700% in the past three months). Very undervalued, in my opinion.

I mean, with the DeFi mindshare growing as it is, our focus should be on the true battle-tested protocols.

Kidnapped for XRP?! + Elon vs Trump Sparks Market Chaos

Alert everyone! New blocmates podcasts will now drop on this new channel.

Make sure to tune in, subscribe, like the video, and help us grow. Much appreciated!

Ubyx (DeFi, stablecoins) - Raised $10M led by Galaxy, Coinbase

Gradient (AI runtime on Solana)

Lily (Spicy AI agent on Virtuals)

To save you doom scrolling.

Interesting edit. Can’t wait for this to turn into a nothingburger so we can resume the golden bull run.

Since we reviewed stablecoins and DeFi in today`s Degen Corner, here is a very nice thread on the best currently available stablecoin yields.

If we`re heading into a choppy summer (would not surprise me), then it might be a good idea to park some stables for passive income and go touch grass for a while.

stay safe homies,

Hix0n 🫡