Conflict, Chaos and a Crypto-Comeback 🔥
Bitcoin: "IM NOT DEAD YET"
Market Vybe #17
Crypto markets took a hit last week as geopolitical tensions in the Middle East escalated, but came back strong after Trump attempted to wrangle a ceasefire deal. From crypto’s rebound to Circle’s blockbuster IPO, here’s everything you need to know (rhyming unintentional, but were just gonna go with it).
In reaction to the US bombing Iran’s nuclear enrichment sites, the markets risked-off. Bitcoin slipped below 100K for first time in 50-days, while Solana dropped to $128.82, before bouncing back to 106K and $140 respectfully.
Historically, war headlines trigger short-term market pullbacks as fear and uncertainty spikes. But once the dust settles, markets often bounce and the appetite for risk-on investments returns. Why? basically:
War → more spending → liquidityLast week followed the script perfectly. See the table below:
Institutional demand remains strong
Despite the sell-off heading into last weekend, institutional demand for the Bitcoin has been soaring. Yesterday saw a massive net inflow of $588 Million and marked the 11th consecutive day of positive flows.
Retail sold, institutions bought more, there’s a lesson in there.
Circle’s IPO Steals the Show
Circle Internet Group, Inc., issuer of the USDC stablecoin, made waves with its NYSE debut (ticker: CRCL) earlier this month. These numbers are shocking:
CRCL IPO’d at $31/share on June 5th, valuing Circle at $6.8 billion.
The IPO was 25x oversubscribed and raised $1.05 billion, driven by institutional heavyweights like JPMorgan and Goldman Sachs.
By June 23rd, CRCL peaked at $299(almost 10x), with a $66.5 billion market cap, briefly eclipsing the total amount of USDC in circulation ~$61 billion.
Helped by the stablecoin bill passed by the U.S. Senate in June 2025. For Circle, the bill enhances USDC’s credibility by:
Providing regulatory clarity
Potentially expanding USDC’s use in payments, remittances, and DeFi, driving transaction volume and revenue.
Positioning Circle to compete more effectively against rivals like Tether, who are much less transparent
Solana has become the rails for stablecoin payments. CRCL’s market success bodes well for Solana’s upcoming spot ETF.
Solana News
Solana-based DeFi Development Corp partnered with Kraken to launch the first tokenized U.S.-listed crypto treasury stock on Solana via their xStocks platform
Republic, the crypto investment platform, has also announced plans to launch stocks on Solana
Sol Strategies, holding 3.6M SOL ($440M), became the 19th largest Solana validator and filed for a Nasdaq listing under ticker STKE.
Invesco and Galaxy Digital registered a trust for a potential Solana ETF
VanEck’s Solana ETF was listed on the DTCC platform with ticker VSOL
Fiserv, a major financial technology company, is launching a digital asset platform featuring a U.S. dollar-backed stablecoin called FIUSD. It will run on the Solana blockchain and be available to Fiserv’s network of approximately 10,000 financial institutions and 6 million merchants.
Vybe Draw Heats Up
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