Bulls Charge On: $2.7B Inflows, Futures, and Upgrades

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Now let's get back to the top stories of the day.

As of June 30, 2025, the crypto market remains in a phase of cautious consolidation. Bitcoin is trading at $107,527, reflecting a modest 0.17% decline over the past 24 hours, while Ethereum is priced at $2,469, up 1.06%. These minor movements come amidst a broader market that Token Metrics describes as neutral, neither distinctly bullish nor bearish.. This stabilization suggests a maturing market cycle driven by fundamentals rather than speculative frenzy. 

Investor confidence remains robust, as evidenced by substantial capital inflows into crypto investment products. Last week, global crypto funds saw net inflows of $2.7B, marking the eleventh consecutive week of positive flows, totaling $16.9B. Year-to-date inflows have reached $17.8B, with combined assets under management at $184.4B.

Bitcoin-based funds dominated with $2.2B in inflows, accounting for 83% of the total, while Ethereum-based funds attracted $429M, including $283.5M into U.S. spot Ethereum ETFs. Regionally, the U.S. led with $2.7B in inflows, followed by Switzerland ($23M) and Germany ($19.8M), though Canada, Brazil, and Hong Kong experienced minor outflows.

Robinhood has expanded its cryptocurrency portfolio by launching micro futures contracts for Solana and XRP in the U.S., building on its existing futures offerings for Bitcoin and Ethereum, which were introduced in January 2025. These micro contracts require less collateral, enabling traders with smaller capital to take directional positions or hedge effectively. In May, Robinhood's crypto notional volumes reached $11.7B, up 36% month-over-month and 65% year-over-year, underscoring its growing presence in the crypto market.

Recent community discussions on X have sparked speculation about Robinhood potentially developing its own Layer 2 (L2) blockchain solution, possibly on Arbitrum. For instance, an X post suggested Robinhood is "making an L2 on $ARB," though no official confirmation has been provided. Robinhood's recent integrations, such as enabling swaps on Arbitrum and exploring partnerships with Arbitrum and Solana for a blockchain securities platform in Europe, fuel this speculation. However, current evidence points to Robinhood leveraging existing L2 solutions rather than launching its own.

Hyperliquid continues to lead the decentralized perpetual trading space, recording $1.571T in trading volume over the past 12 months. This month alone, it achieved $208B in volume, surpassing the combined $140B of other on-chain perpetual exchanges. The launch of HyperEVM, an Ethereum-compatible network integrated with Hyperliquid's Layer 1 blockchain (HyperCore), has expanded its ecosystem, offering a high-performance environment for smart contracts and decentralized applications (dApps).

HyperEVM presents significant airdrop farming opportunities, with 38% of the $HYPE token supply allocated for future community incentives. Previously, Hyperliquid distributed 310 million $HYPE tokens (31% of the total supply) to users based on activity. Protocols within HyperEVM, such as HyperSwap and stHYPE, offer point systems and staking options that enhance airdrop eligibility. For example, providing liquidity on HyperSwap or staking in Hyperbeat's Ultra vault can earn users points across multiple protocols, positioning them for potential token rewards.

To commemorate Ethereum's 10th anniversary, EthCC, Protocol Guild, and Shutter Network have launched an innovative on-chain time capsule, inviting community members to submit encrypted digital artifacts. Launched on June 30, 2025, at EthCC in Cannes, the initiative accepts contributions such as personal memories, predictions, memes, messages, artwork, and on-chain artifacts until July 30, 2025. These will remain encrypted using Shutter Network's threshold encryption technology and be revealed on July 30, 2026, marking Ethereum's 11th anniversary.

The contribution fee is approximately $2.50 (0.001 ETH), with all proceeds supporting the Protocol Guild to fund Ethereum's core development. This initiative celebrates Ethereum's milestone, fosters community engagement, and preserves its history on-chain. Interested readers can participate via the EthCC website.

BNB Chain's Maxwell hardfork, effective June 30, 2025, reduces block times from 1.5 seconds to 0.75 seconds, making it one of the fastest Ethereum Virtual Machine (EVM)-compatible blockchains. Following the Lorentz hardfork, which halved block times from 3 seconds to 1.5 seconds, Maxwell introduces key Binance Evolution Proposals (BEPs):

The upgrade adjusts consensus parameters, increasing epoch length from 500 to 1000 blocks and validator turn length to 16 blocks (12 seconds at 0.75s/block), achieving fast finality in ~1.875 seconds. Successfully tested on the testnet on May 26, 2025, Maxwell positions BNB Chain as a high-performance platform, likely attracting more developers and users to its ecosystem.

That's all for today, people. Let's talk tomorrow.

Your Friends at Token Metrics