💥 June 20th: Largest Options Expiry In History

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GM, up or down? That is the question.

With ETH stuck in a range tighter than an Israeli border crossing, and BTC hovering just below the key $106.5k level, calling the next move feels like flipping a coin.

Today’s daily closes and nearing weekly closes will be telling. We mentioned June 20th in Monday’s newsletter when discussing upcoming volatility events. This one is quite something: $6.8 trillion worth of stock options and $4 billion worth of BTC ones are expiring.

Perhaps this means the market will finally have its position rebalancing behind, and we can see the direction of the move by next week.

What’s certainly promising today are rumours of upcoming Fed rate cuts coming up as soon as July.

Also, Trump just announced that the decision of whether or not the U.S. joins Israel’s war against Iran will be made in two weeks. Combine this with the tariff deadline on July 9th, and we’ve got yet another recipe for some proper volatility.

Sleepy summer might turn into a punishing one quite quickly. If none of these catalysts can push BTC or ETH out of range, expect a battlefield littered with both bull and bear casualties.

So, what should we do not to become one? I believe the overall market is heading way higher by Q4 2025. I also think the best entries will come around August/September. Lastly, I think there’s still a slight chance we might see the last upside move sometime from now into July.

This means we can either hold our conviction spots or wait out the chop until the market flushes properly. Both strategies are risky, so maybe we do a bit of both?

One thing I certainly won’t do is try to leverage my way into the grave, especially during times like these. Good luck out there.

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The important bits.

• Shadow Exchange explains why it’s superior to Aerodrome, read here

• Altitude featured in new Mono article, read here

• INFINIT launched One-Click Agentic DeFi, learn how to use it here

• Premia Blue explains the new options product Kyan in stream, listen here

• Hyperliquid’s HIP-3 upgrade explained in new blocmates article, read here

• Jupiter has paused all DAO voting until 2026, details here

• HyperStable airdropped PEG to HyperEVM users, check yours here

• Arbitrum votes on DeFi Renaissance proposal, details here

• Magic Eden implements upgrades for Bitcoin infrastructure, more details here

• Kinetiq announces iHYPE, HYPE staking for institutions, announcement here

Even more important bits.

• Pumpfun token listing has been postponed to mid-July

• Coinbase secures MiCA license in Luxembourg

Charts and stats of the day.

• Stablecoin supply has reached a new all-time high, surpassing $250 billion

• BlackRock now holds 3% of all Bitcoin through its ETF

StalkChain spots the next big meme coins early by tracking top wallets and smart money moves in real-time.

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

PS: Use code BLOCMATES for 20% off, but shhhh it's our little secret.

GAME/VIRTUAL 3D Uniswap Log Chart

Agent Commerce Protocol (ACP) is coming to the Virtuals ecosystem, possibly in the next week or two. There are several related, bullish charts in my Virtuals watchlist. GAME (above) is the dev framework being tapped to build permissionless agent-to-agent commerce within their growing agentic ecosystem. The market cap is down to $59m from the high of $360m in December. It seems to me that the $59m number should be a lot higher.

Think of GAME like an AI16Z / Eliza dev framework without the schizo founder overhang. Loky (chart) is one of the main ACP agent plays, and at only $3m market cap, it looks like it wants much higher and is potentially very undervalued here. NFA as per usual. I’m looking to buy a pullback (purple box above) on GAME and LOKY.

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!

Let’s be honest — trad apps are cooked.

Tapping between 10 different tabs/icons just to make a purchase, find information, or see who’s talking about what? Feels prehistoric. The future isn’t about apps that make you work, it’s about apps that work for you.

But here’s the catch: most so-called “AI automation” tools still feel like assembling IKEA furniture blindfolded. If you've ever wrestled with n8n or Lindy, you know the pain. Drag-and-drop sounds easy — until you're knee-deep in 20 different config parameters, HEXes, API keys, and error logs.

Enter OpenServ.

They’re not just building another automation toy. OpenServ has built a full stack drag-and-drop agentic app (aApp) development engine with actual brains — backed by chain-agnostic integrations, proprietary Shadow Agents that handle the messy logic for you, and full MCP support to plug into tens of thousands of tools and services.

If you want to look deeper into this one, go no further than our recent blocmates breakdown article here.

Not much of a reader? How convenient that next Monday at 4PM CET we’ll be hosting OpenServ on a livestream on X. Stay tuned; a little birdie has mentioned there’ll be alpha.

• Vesta Exchange (DEX)

• Printr (Multichain meme trading)

• dotHYPE (Identity infrastructure for Hyperliquid)

• xFractal (Research and analyze tokens)

To save you doom scrolling.

We simply continue vibing.

You might be wondering—how can I be so certain that, long-term, the only real direction is up?

Well, for starters, the U.S. national debt just broke $37 trillion. The fiat ponzi isn't about to change its nature overnight. If there’s one core truth in investing, it’s this: zoom out. Bulls are the long-term winners. Bears get their moments, sure—but from a wide enough view, those moments look like blips on the radar.

Of course, this outlook applies more cleanly to assets like Bitcoin and ETH. Our beloved altcoins, on the other hand, still need BTC dominance to finally start falling.

But here’s your dose of hopium: that time will come. Sooner or later.

stay safe homies,

Hix0n 🫡