Crypto Markets Steady as Corporates Double Down on Bitcoin

Happy Monday, TM Family!

Welcome to the Token Metrics Research | Daily newsletter, where we cover key market movements, regulatory updates, and early alpha for our readers and investors. 

Let's dive in! 

The global cryptocurrency market capitalization stands at $3.24T, experiencing a 0.5% decline over the past 24 hours, suggesting a slight pullback over the weekend. This movement aligns with broader market dynamics influenced by macroeconomic factors. 

Bitcoin is currently priced at $101,695, up 2.12% over the last 24 hours, indicating a stable yet slightly bullish trend. Despite recent dips, Bitcoin maintains a dominant market share of 62.5%. 

Global cryptocurrency funds recorded $1.24B in net inflows last week, marking the tenth consecutive week of positive flows, and $15.1B year-to-date. Bitcoin added $1.1B, Ethereum added $124M, and combined assets under management are now at $176B. 

Tune in to the Crypto Market Update live stream by our Founder and CEO, Ian Balina:

Fiserv, a Fortune 500 fintech company processing 90B transactions annually, is launching FIUSD, a U.S. dollar-pegged stablecoin, on the Solana blockchain by the end of 2025. This initiative aims to enhance payment efficiency across its extensive network.

FIUSD will be embedded within Fiserv's platform, serving approximately 10,000 financial institutions and 6 million merchants, facilitating seamless digital transactions. The stablecoin will interoperate with other major stablecoins, including PayPal's PYUSD, enabling use cases such as cross-border transfers, payouts, and vendor payments.

FIUSD is designed to be "bank-friendly," incorporating robust compliance, fraud detection, and risk monitoring tools to meet regulatory standards. Fiserv has partnered with Circle, Paxos, and PayPal to leverage their expertise in stablecoin infrastructure, ensuring 24/7 settlement capabilities. 

ProCap Financial, formerly ProCap BTC, led by CEO Anthony Pompliano, is merging with Columbus Circle Capital Corp. I (CCCM), a SPAC sponsored by an affiliate of Cohen & Company, is set to go public. The transaction values ProCap up to $1B, contingent on the final Bitcoin purchase price at closing.

ProCap has secured $550M in preferred equity and $225M in convertible notes to fund its Bitcoin acquisitions and operational growth. The company aims to monetize its Bitcoin holdings through yield-generating strategies, mitigate risks, and leverage crypto-financial infrastructure to bridge traditional and digital finance markets.

The merger is expected to close before the end of 2025, pending SEC review and shareholder approval. ProCap positions itself as a bridge between digital assets and traditional finance, targeting sophisticated investors seeking exposure to cryptocurrencies through public markets.

Metaplanet, a Japanese investment firm, recently purchased 1,111 BTC for $117M, at an average price of $105,681 per BTC. Metaplanet's aggressive Bitcoin accumulation reflects its strategy to hedge against economic uncertainties and adopt Bitcoin as a reserve asset.

Microstrategy, a prominent corporate Bitcoin adopter, added 245 BTC for $26M during the week ending June 22. This was funded through sales of preferred stock via its at-the-market (ATM) equity offering program. Microstrategy's consistent Bitcoin purchases underscore its long-term commitment to the cryptocurrency as a store of value.

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

Your Friends at Token Metrics