Crypto Bites | Recap 12062025
Hello frens, here's a quick rundown of today's top crypto headlines:
Bitcoin, Dogecoin, Ether Could See Profit-Taking Even as Macro Conditions Improve
Despite a generally improving macroeconomic landscape, major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) are experiencing slight declines of 1-2%. Even sharper drops are observed in altcoins such as Dogecoin (DOGE), Solana (SOL), and XRP, with DOGE down by nearly 6%. This suggests a trend of profit-taking across the board. The overall crypto market remains volatile, with some tokens showing resilience while others face selling pressure. No immediate rebound is expected as traders balance favorable macro conditions against recent profit-taking.
US Stablecoin Market Could Exceed $2 Trillion Projection by End of 2028, Thinks Treasury Secretary Bessent
U.S. Treasury Secretary Bessent projects the U.S. dollar stablecoin market could exceed $2 trillion by 2028, pending legislative support. The Senate has advanced the GENIUS stablecoin bill, which would require stablecoins to be fully backed by U.S. dollars or liquid assets and mandate annual audits for issuers over $50 billion. Bessent highlights that U.S. Treasury-backed stablecoins could significantly expand global U.S. dollar usage, considering the $2 trillion estimate conservative. Currently, dollar-linked stablecoins hold a market cap of $246.9 billion, representing over 96% of the total stablecoin market. Major banks like Bank of America are gearing up to launch their own stablecoins, and USDC issuer Circle recently went public, with its stock surging 235% on debut. President Trump has expressed a desire to sign stablecoin legislation before August, supporting efforts to strengthen the dollar’s reserve currency status.
Alibaba-linked Ant Wants In on ‘Stablecoin Summer’ as Market Tops $250bn
Ant Group, affiliated with Alibaba, is pursuing stablecoin licenses in Hong Kong, Singapore, and Luxembourg to issue regulated stablecoins for cross-border payments. This is a significant move given China's typically cautious stance on crypto. The stablecoin market has reached a record $250 billion, with forecasts predicting growth to $2.5 trillion by 2028, fueled by institutional demand and evolving regulations. Tether’s USDT and Circle’s USDC currently dominate over 86% of the stablecoin supply, with Circle recently going public on the NYSE. Tether is also developing a new blockchain, Stable, to facilitate high-speed USDT transactions for financial institutions. The sector is experiencing a “stablecoin summer,” with rapid growth anticipated, contingent on regulatory clarity, especially in the U.S. with the Genius Act.
Strategy Launches STRD, Its Third 'Bitcoin-Backed' Preferred Stock on Nasdaq
Strategy has launched STRD, its third Bitcoin-backed preferred stock, on Nasdaq, expanding its crypto-finance offerings. This new security aims to provide investors with exposure to Bitcoin’s price movements while offering preferred stock features. Bitcoin (BTC) is currently trading around $27,354, down 1.13%, with other major cryptocurrencies like ETH and USDT also declining today. Market sentiment remains cautious amidst broader crypto price drops, with several altcoins falling over 3-6%. The launch underscores continued institutional interest in crypto-backed financial products despite recent volatility.
Dogecoin Drops 7% After Brief Rally Amid Rising Hopes of a DOGE ETF
Dogecoin fell 5.87% to $0.1904 after a brief rally driven by increasing hopes for a DOGE ETF. The broader crypto markets saw mixed movements, with Ethereum down 1.59% and Bitcoin around $107,689.09. The decline follows heightened speculation about regulatory approval for a potential DOGE ETF, which had previously boosted short-term optimism. Other major tokens like BNB, SOL, and ADA also experienced declines of approximately 4-6%. Trading volume and market sentiment remain cautious amid ongoing regulatory discussions in the U.S. and globally. Dogecoin's recent volatility highlights the significant impact of ETF news on meme coin prices.
Ethereum NFT Traders Rebound to 2022 Levels as OpenSea and Game Devs Revamp Utility
Ethereum NFT traders have surged to nearly 40,000, approaching June 2022 levels. This rebound is largely attributed to OpenSea’s OS2 exiting beta and its new "Voyages" rewards program, which incentivizes platform use with "XP," leading to its highest monthly user count since 2022. Major NFT companies such as Orange Cap Games and Mythical Games are expanding beyond collectibles, exemplified by Moonbirds IP acquisition and new branded digital assets in upcoming games. This shift indicates a move from speculative trading towards utility-focused NFTs, drawing inspiration from established digital asset economies like Steam’s in-game items. The recent activity reflects a maturing NFT market, with increased utility and gaming integrations attracting more engaged users, as data from The Block confirms a notable rebound in Ethereum NFT trading activity as of June 2025.
Solana-based Golf Rewards App GolfN Hits App Store
The Solana-based golf rewards app, GolfN, is now available on the App Store, targeting over 47,000 waitlisted golfers. The app combines collectibles, digital caddie features, and a native GOLF token, blending rewards with gaming elements. While free users can earn non-financialized tickets, access to points convertible to GOLF tokens requires a monthly membership fee ($50-$1,000). Paid memberships offer perks and allow users to earn points redeemable for golf gear or tradable on the open market, with some features including virtual golf club rentals. CEO Jared Phillips estimates a 10:1 non-crypto to crypto user ratio, emphasizing golf’s appeal to crypto-educated, higher-income demographics. Despite potential adoption challenges due to its complexity and overlapping reward systems, the app taps into the growing intersection of golf and crypto communities.
Whale Buys 800 Million World Liberty Financial (WLFI) Tokens: Is Crypto Exchange Listing Next?
A significant whale or institution recently acquired 800 million World Liberty Financial (WLFI) tokens for 80 million USDT, signaling strong interest in the token. Speculation is growing regarding WLFI's imminent exchange listing, further fueled by a major announcement from The Trump Organization expected on June 16. Analyst Quinten predicts that WLFI could achieve a $5 billion market cap and reach $0.20 to $0.25 per token upon launch.