Ethereum Staking Reaches All-Time High

Despite continued downward pressure in the cryptocurrency market, the supply of staked Ether (ETH) has reached a new all-time high. According to data from Dune Analytics, 35 million ETH (approximately 28.3% of the total supply) is now staked under Ethereum’s proof-of-stake consensus model.

This signifies that over 500,000 ETH was staked during the first half of June, contributing to a “continued drop in liquid supply” as investors seek passive income. A growing staked supply indicates increasing long-term conviction and a preference for holding among holders.

“Over 500,000 ETH was staked in the first half of June, signaling ‘rising confidence and a continued drop in liquid supply,'” noted a CryptoQuant analysis.

Institutional Crypto Reserves Expand

Publicly-traded companies are increasingly establishing corporate cryptocurrency reserves, signaling growing institutional adoption of digital assets beyond Bitcoin.

Nasdaq-listed Lion Group Holding (LGHL) announced plans for a $600 million crypto treasury reserve centered on the Hyperliquid (HYPE) token. The company secured a $600 million facility from ATW Partners to deploy its first $10.6 million investment.

‘Crypto-Native’ Asset Managers See Capital Growth

“Crypto-native” asset managers have quadrupled their onchain holdings since January, according to a report from Artemis and DeFi yield platform Vaults.

The sector has grown its capital base from approximately $1 billion to over $4 billion. Major firms have deployed nearly $2 billion in the Morpho Protocol decentralized lending platform. Gauntlet, Steakhouse Financial, and Re7 control approximately two-thirds of this market share.

Security Breach Hits Iranian Exchange Nobitex

Hackers linked to a pro-Israel group, “Gonjeshke Darande,” claimed responsibility for a $100 million exploit of Iranian cryptocurrency exchange Nobitex. The group subsequently leaked the platform’s source code.

In an X post, the group stated: “Time’s up – full source code linked below. ASSETS LEFT IN NOBITEX ARE NOW ENTIRELY OUT IN THE OPEN.”

The hackers cited the exchange’s ties to Iran’s government and participation in sanction-violating funding activities as motivation.

Flare Network Enables XRP’s DeFi Participation

Flare Network bridges XRP to the decentralized finance ecosystem. The Flare Network’s FAssets system creates collateralized representations of non-smart-contract assets like XRP.

One example is FXRP, a wrapped version of XRP enabling holders to deploy it in DeFi protocols on Flare. Staking FXRP yields stXRP, a liquid staking token.

Deribit and Crypto.com Integrate BlackRock’s BUIDL

Crypto derivatives exchange Deribit and spot exchange Crypto.com are accepting BlackRock’s Institutional Digital Liquidity Fund (BUIDL) as trading collateral for institutional clients.

This tokenized US Treasury fund offers yield, potentially lowering margin requirements for leveraged trading. The integration expands utility as tokenized Treasuries gain traction alongside stablecoins.

DeFi Market Overview

Data from Cointelegraph Markets Pro/TradingView shows most of the 100 largest cryptocurrencies by market cap saw losses last week, with the Story token (IP) falling over 18%.