The Assets

Daily Report 30 June 2025

Digital Assets Daily Report -

Global markets rose on Friday as the Dow Jones (+1.0%), S&P 500 (+0.52%), and Nasdaq (+0.52%) all closed higher, with both the S&P 500 and Nasdaq hitting record highs following news of a US-China trade agreement, though gains moderated after Trump terminated trade talks with Canada. The S&P 500's record close at 6,173 was supported by Core PCE data showing the Fed's preferred inflation gauge rose 0.2% monthly and 2.7% annually in May, while consumer spending declined 0.1%, keeping monetary policy expectations mixed as Fed Chair Powell maintains a "wait and see" approach. European markets followed suit with the Euro Stoxx 600 (+1.14%) and FTSE 100 (+0.72%) both gaining on trade optimism and EU Commission President von der Leyen's comments about potential US-EU deal progress before the July 9 deadline. Nvidia extended its rally to reclaim the title of world's most valuable company, while attention now turns to Thursday's crucial June non-farm payrolls report—released early due to Friday's Independence Day holiday—and the approaching 90-day trade negotiation deadline that most analysts expect will be extended. The global crypto market cap increased 1.5%over the week end to $3.33tn. The 24h volume is at $86.5bn.

  • In the past 24 hours, crypto liquidations increased by 240% and totaled $225.51m, with 72% of them short positions. 
source: Coinglass
  • Crypto cards are outpacing traditional banks in small-value transactions across Europe, with 45% of crypto-linked card purchases under €10, a category historically dominated by cash, according to a new CEX.IO report. European crypto card users conduct 40% of their transactions online, nearly double the eurozone average of 21%, while showing spending patterns similar to traditional bank card users with groceries accounting for 59% of purchases and dining representing 19%. The average crypto card transaction sits at €23.7 compared to €33.6 for bank cards, with stablecoins powering 73% of transactions alongside Bitcoin, Ether, and other major cryptocurrencies used for everyday purchases. CEX.IO reported a 15% rise in newly ordered crypto cards across Europe in 2025, with VP Alexandr Kerya noting the trend shows "what everyday spending might look like in a truly cashless future." However, adoption faces headwinds as Barclays announced plans to ban crypto transactions on its credit cards, citing concerns over market volatility and lack of consumer protections.
  • This consumer-level adoption reflects a broader transformation in digital payments infrastructure, as stablecoins have become the "default settlement layer for the internet" and now surpass Visa and Mastercard in onchain transaction volume by 7%, according to Noam Hurwitz, head of engineering at blockchain infrastructure provider Alchemy. Major fintech companies including PayPal and Stripe are integrating stablecoins to leverage onchain infrastructure for faster and cheaper transactions, with Alchemy powering stablecoin flows for giants like Visa, Circle, and Robinhood Wallet. Hurwitz noted that stablecoins make money "cheap, fast, global, and secure to transfer," while Tether alone generated $13 billion in profits last year holding around $113 billion in US debt, more than Germany holds in Treasuries. The institutional shift comes as the US Senate passed the GENIUS Act establishing federal guardrails for stablecoins, though challenges remain from fragmented blockchain infrastructure and skepticism from traditional authorities, with the Bank for International Settlements claiming stablecoins fail critical tests to serve as money in modern financial systems.
  • BNB Smart Chain's Maxwell upgrade went live Monday, cutting block times from 1.5 seconds to 0.8 seconds through three key proposals designed to boost network scalability and validator efficiency, while the native BNB token spiked 6.5% over the past week to around $655 ahead of the implementation.
  • Bit Digital's stock plummeted 15% in 24 hours and 19% over five days to close at $1.99 on Friday after the former Bitcoin mining company announced a $150 million public offering to fund its strategic pivot to Ethereum staking, including plans to liquidate its Bitcoin holdings to purchase more ETH.
  • Crypto exchange Gemini launched a tokenized version of Michael Saylor's Strategy (MSTR) stock for European Union investors, partnering with securities provider Dinari to offer onchain trading that bypasses traditional market restrictions like limited trading hours and higher international fees. The exchange said MSTR is currently its only tokenized stock but plans to launch additional tokenized stocks and ETFs "in the coming days," joining a growing trend of crypto platforms bringing US equities to European markets through tokenization.