Market Summary

The crypto markets saw another week of correction. Bitcoin (BTC) declined by 4.2%, while Ethereum (ETH) dropped 2.6% and Solana (SOL) experienced a steeper decline of 12.5%. In contrast, the NASDAQ rose by 2.0%, closing at 19,113.

Year-to-date, Bitcoin is still up 11.7%, while Ethereum and Solana are down 25.5% and 18.7%, respectively. NASDAQ is slightly down 1.0% YTD.

The total cryptocurrency market cap fell to $3.26 trillion, down 5.5% week-over-week, while BTC dominance remains strong at 63.7%, and ETH dominance sits at 9.2%. The Crypto Fear & Greed Index stands at 57 (Neutral), reflecting cautious sentiment.

Weekly Price Performance of Top Coins

The broader altcoin market witnessed significant corrections:

Top Gainers:

$CRO +8.1%
$LBTC +5.5%
$TON +4.1%

Top Losers:

$REND -20.5%
$KAS -21.1%
$WLD -21.4%

On-Chain Data Insights

Top protocols by Total Revenue:

• Tron (TRX)
• Uniswap (UNI)
• Lido Finance (LDO)

This shows where users continue to pay fees and engage most actively.

Top protocols by Total Value Locked (TVL):

• Aave (AAVE)
• Lido (LDO)
• EigenLayer (EIGEN)

High TVL reflects user confidence in smart contract security and protocol stability.

Total Revenues (latest data):

• Bitcoin: $0.4M
• Ethereum: $0.9M
• Solana: $0.9M

Revenue levels across major chains remain subdued, reflecting reduced user activity. Ethereum’s revenues remain far below their Q1 2024 peaks, while Solana’s previous revenue surges — driven by memecoin trading — have also cooled off in recent months.

Macro Highlights

PCE inflation came in lower than expected:

• Headline PCE: 2.1% YoY (vs. 2.2% previous)
• Core PCE: 2.5% YoY (vs. 2.7% previous)

Fed rate expectations:

• 99% probability the Fed holds rates steady at 4.25% – 4.50% in June
• First rate cut (25bps) projected for September with 57% probability

Key economic data to watch this week:

• U.S. ISM Manufacturing PMI: 52.3% (expected, unchanged)
• ISM Manufacturing: 48.5% (slightly lower)
• ADP Private Employment: 112k (expected)
• U.S. Employment Report: 125k new jobs (expected)
• Unemployment Rate: 4.2% (unchanged)

Crypto Industry News

• Ethereum leads $300M in weekly crypto fund inflows, indicating sustained institutional interest.
• DEXs reached record 25% share of spot trading volumes versus centralized exchanges (CEXs) in May, underlining the growing role of DeFi.
• Wintermute warns of Ethereum Pectra upgrade vulnerability, where automated attacks may exploit certain wallet transactions.
• SEC delays decision on staking ETFs for Solana and Ethereum: The agency flagged unresolved legal questions for the REX Shares and
• Osprey Funds applications. While spot Ethereum ETFs are live, Solana ETFs face more regulatory hurdles.