Gemini filed for an IPO, following in the footsteps of Circle’s recent successes. Nonetheless, this move has caused skepticism in the community as some KOLs wonder if this IPO is a bubble indicator.
The company has shown interest in an IPO for several months, and Cameron Winklevoss recently teased big future developments in a public appearance.
Still, this Gemini IPO is not necessarily a huge surprise; the firm teased such a development for months. At the recent Bitcoin Conference, Cameron Winklevoss described bold plans for his firm and the crypto industry as a whole. An IPO would certainly fit the bill. Nonetheless, some influential community members wonder if this is oversaturating the market:
“Oh boy, here comes the next one already. So we have Bitcoin Treasury companies and IPOs this cycle. Doubt Gemini is a good investment, but neither is Circle, and look what they’re valued at. Bubble forming,” WhalePanda claimed via social media.
In other words, some KOLs believe that Gemini’s IPO might represent a market top indicator. The firm has made some advancements recently, but an IPO doesn’t necessarily signal strong fundamentals. Whatever happens, it’s still in the early stages.
After a mildly bearish week, the coming weekend is expected to be a turning point for the crypto market. This is if the Trump-Musk feud comes to a halt, which is unlikely given their tenacity to have the final word.
BeInCrypto has identified three altcoins to watch this weekend and the direction in which they will be taking over the next two days.
1Inch Network (1INCH)
1INCH price is expected to rise in the next two days as the protocol undergoes a significant upgrade. The 1IP-78 update will introduce key improvements aimed at boosting the adoption and usage of the 1inch Protocol. This upgrade could be a catalyst for positive price movement in the short term.
Despite being down 6% in the last 24 hours, trading at $0.1982, 1INCH shows signs of recovery. The Ichimoku Cloud indicates persistent bullish momentum, which could help push the price above the crucial support level of $0.2092. This support level will be key in determining the price direction.
If bearish market conditions continue, 1INCH may experience further losses. A drop below $0.2092 could send the altcoin toward $0.1886 or even lower to $0.1793. A decline to these levels would invalidate the bullish outlook and could result in a prolonged downward trend for 1INCH.
Hyperliquid (HYPE)
HYPE has been one of the best-performing tokens this week, with an 8% increase. This strong momentum is expected to continue into the weekend, potentially pushing the price above $36.47. If this trend holds, HYPE could see further upward movement, making it one to watch closely.
The Chaikin Money Flow (CMF) indicator shows that despite some outflows, it remains above the zero line. This suggests that there is still buying pressure in the market, which could drive HYPE closer to its all-time high (ATH) of $42.25. The coin is currently 23.8% away from reaching this level.
If outflows intensify and market sentiment weakens, HYPE could experience a decline. A drop below the support level of $31.26 would signal further weakness, potentially leading to a fall to $27.31. Such a scenario would invalidate the current bullish outlook and shift the market sentiment towards bearish.
Quant (QNT)
QNT has performed well this week, showing strong bullish signals similar to HYPE. The Exponential Moving Averages (EMAs), which recently formed a Golden Cross, continue to expand. This pattern indicates sustained bullish momentum, suggesting that QNT could see further price increases in the near term.
The upward momentum could help QNT bounce off the $110 support level, with a potential rise to $121. If the price breaks above this resistance, it would open the door for a move toward $126. This positive price action indicates that QNT is likely to maintain its bullish trend for now.
However, if the price fails to breach $121, QNT may continue to consolidate under this level. If the $110 support is lost, the altcoin could experience a sharp decline to $101, invalidating the current bullish outlook and signaling a shift toward bearish market conditions.
After its major IPO launch, Circle is now a public company trading under the CRCL ticker. Its initial stock price is $31 per share.
This marks the first-ever major stablecoin company to go public in the US. The company’s USDC is currently the 7th largest cryptocurrency, with a $61.4 billion market cap.
Today, Circle’s listing on the NYSE makes it a public company, signaling a new era and the end of its IPO.
I am incredibly proud and thrilled to share that @circle is now a public company listed on the New York Stock Exchange under $CRCL!
12 years ago we set out to build a company that could help remake the global economic system by re-imagining and re-building it from the ground up… pic.twitter.com/okcH0ys6Tc
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) June 5, 2025
In addition to showing his gratitude, Allaire commented on a few ways that going public could transform Circle.
He claimed that the firm was founded on the premise of remaking the global economic system in a digitally native fashion and always anticipated this project taking decades. After 12 years, going public is a sign that the mission is making real progress.
Circle aimed to raise over $1 billion with its IPO, and going public today signals its rapid success at achieving this task.
Still, becoming a public company won’t necessarily change Circle’s day-to-day operations yet. Allaire didn’t mention any changes in the firm’s leadership or commit to any bold new initiatives.
He spoke of continuing to transform the global economic system but emphasized that this is a long-term vision.
The growing trend of public crypto treasuries has sparked a race among altcoins. Each one vies to be the top choice for companies and institutions looking to establish strategic reserves.
In this race, the XRP community offers several arguments highlighting XRP’s superiority. What are those arguments? This article dives in and explains.
More Companies are Listing XRP as a Treasury Asset
Recently, Webus International, a China-based company, filed Form 6-K with the U.S. Securities and Exchange Commission (SEC). The filing confirmed a plan to build a $300 million strategic reserve focused on XRP.
Webus is not alone. VivoPower International also announced a $121 million XRP reserve plan. Meanwhile, Wellgistics has invested $50 million in XRP.
According to a recent report from BeInCrypto, VivoPower also plans to acquire $100 million worth of XRP through BitGo’s over-the-counter (OTC) desk.
This company just filed for a $300 million dollar XRP reserve.
What’s going on here? Why are companies doing this?
Most people will see this and think its primarily about price speculation but that’s not really the key thing that is happening here — the real strategy here is… pic.twitter.com/6plq0W8Tmm
These actions suggest that large companies worldwide increasingly view XRP as a strategic financial reserve asset.
What Drives Businesses to Choose XRP for Strategic Reserves?
Companies choose Bitcoin as a strategic reserve because they believe in its value-storing capability during inflation. But what motivates them to select altcoins instead?
Altcoins are more volatile and often depend heavily on the transparency and actions of their development teams.
Each altcoin offers a unique value proposition. XRP’s supporters believe they have solid reasons to trust it.
Austin King, co-founder of OmniFDN, suggests that companies might want to integrate XRP into their international payment systems.
They believe XRP’s fast transaction speed and low cost make it ideal for cross-border payments. This could help businesses improve financial efficiency and enhance transparency in global services, like Webus’s ride-hailing platform.
“Most people will see this and think it’s primarily about price speculation, but that’s not really the key thing that is happening here — the real strategy here is to latch onto these rapidly growing crypto networks to share in their growth,” said Austin King.
Analyst Pumpius offers another perspective. He believes this is not just speculation but a strategy to practically leverage the XRP ecosystem. One key development is the integration of RLUSD—Ripple’s stablecoin—into Ripple’s payment solutions.
“XRP isn’t being treated as a crypto — but as an asset for settlement architecture. Webus isn’t betting on price. They’re betting on utility,” Pumpius said.
These arguments are gaining traction, especially as experts predict the GENIUS Act will likely pass. If approved, it could pave the way for RLUSD’s growth.
As of June 2025, RLUSD has a market cap of $369 million. It is designed to support fast, low-cost cross-border transactions, complementing XRP and helping build a more robust financial ecosystem.
Every transaction using RLUSD on the XRP Ledger (XRPL) requires XRP as a transaction fee. This gradually reduces the supply of XRP, which could drive its long-term value.
What are the Risks of Holding XRP as a Strategic Reserve?
Still, XRP remains a highly volatile digital asset. Its price history reveals it dropped over 80% in two major downturns: 2018 and 2021. This raises serious concerns for companies using XRP as part of a strategic reserve.
XRP Price Volatility Over the Past Three Months. Source: BeInCrypto
Following years of anticipation, Shiba Inu’s Layer-2 (L2) solution Shibarium launched on August 16, 2023. Despite being designed to bring speed, scalability, and reduced costs to SHIB holders, network data shows that Shibarium’s daily activity has significantly lagged behind competing L2 networks like Base, Arbitrum, and Optimism.
This piece looks at how Shibarium has performed this year and what its slow growth means for the wider Shiba Inu ecosystem, especially for BONE, the token that powers Shibarium, and SHIB itself.
Shibarium’s User Engagement Falters After Meme Market Rally
According to Shibariumscan, Shiba Inu’s L2 network had an unimpressive start to the year. In the first quarter of 2025, daily active addresses on the network were relatively low, showing little user engagement.
It was not until April that activity began to pick up on Shibarium. This spike in network usage was driven by the surge in meme coin activity across the broader crypto market.
For context, between April 10 and May 10, the meme coin market capitalization rose 56% as demand for these assets rocketed.
Riding that wave, Shibarium saw a surge in activity, peaking at over 21,000 daily active addresses on May 12, its year-to-date high. However, this momentum did not last.
As the meme coin market mania began to fade in late May, user activity on Shibarium also declined. By June 5, the number of daily active addresses had fallen to around 9,000—a drop of more than 55% in just three weeks.
Shibarium Daily Active Accounts. Source: Shibariumscan
Why Shiba Inu’s Layer-2 Network Is Falling Behind Other L2s
This pattern of user activity on Shibarium suggests a lack of sustained utility or use cases that keep users engaged beyond speculative trading.
In an exclusive interview with BeInCrypto, Dominick John, an analyst at Kronos Research, noted that while Shibarium experiences “bursts of community-driven activity,” it still lags behind other Layer-2 networks like Base, Arbitrum, and Optimism.
“Those networks benefit from robust ecosystems and composability in DEFI beyond the memecoin hype. For Shibarium to stand out, it must evolve and cultivate a unique DeFi ecosystem that delivers long-term value,” John explained.
According to John, Shibarium’s muted growth “reflects project-specific hurdles, limited dApp adoption, ecosystem fragmentation, and fierce L2 competition more than meme-token fatigue.”
On-chain data from DefiLlama confirms this narrative. Currently, Shibarium hosts just 18 decentralized finance (DeFi) projects— a stark contrast to more established Layer-2s like Base and Arbitrum, which support 549 and 741 projects, respectively.
Lynn C., SONEX’s CMO, echoes the same sentiment. Lynn acknowledges that meme-token fatigue may be partially responsible for Shibarium’s slow adoption, but emphasizes that much of the challenge lies in project-specific scaling strategies.
“On one hand, there is certainly meme-token fatigue in the market as users look for more utility-driven projects. On the other hand, Shibarium’s growth challenges may be specific to how the network is structured and its approach to scaling. There’s no one-size-fits-all solution, and different projects take different paths toward growth,” she said.
Despite its challenges, Shibarium has introduced utility benefits to the Shiba Inu ecosystem. John noted, “Shibarium has strengthened the Shiba Inu ecosystem by enabling cheaper transactions, supporting SHIB burns, and giving BONE real utility.”
For Lynn, the L2 “has added an important component to the Shiba Inu ecosystem by offering a Layer-2 network that promises to scale transactions and reduce costs.”
BONE Token Struggles Amid Shibarium’s Slow Adoption
BONE serves as the primary gas token, facilitating transactions and enabling users to interact on Shibarium. With fewer transactions taking place on the L2, the practical need for BONE as gas has diminished. This lack of on-chain utility has impacted the token’s market performance, falling 38% YTD.
John echoed this concern, stating that, “from a market-making perspective, token utility needs to translate into recurring on-chain demand and transactional velocity. At this stage, BONE demonstrates some early use cases, but it has yet to establish consistent capital retention across the ecosystem.”
On the other hand, Lynn holds a more cautiously optimistic view of BONE. In her words:
“BONE has certainly played a role within the Shiba Inu ecosystem, but like many tokens, it’s still working on building its utility beyond speculative trading. It’s common for newer tokens to find their footing as they grow and develop more use cases. The demand for tokens like BONE will evolve as the ecosystem matures and as more opportunities for real utility emerge.”
For the SHIB meme coin, Shibarium’s lackluster performance also has its impacts.
“If Shibarium fails to scale meaningfully, SHIB holders face several risks: reduced utility due to low transaction volume and limited dApp adoption, weaker SHIB burn rates, and stagnating token value,” John added.
Lynn, on the other hand, struck a slightly more optimistic tone. According to her:
“If Shibarium doesn’t scale, it could slow down the momentum of the broader Shiba Inu ecosystem, especially in terms of user adoption and network effects. However, it’s important to remember that blockchain and DeFi projects face various challenges as they grow, and Shibarium’s trajectory will likely continue to evolve as the team adapts to feedback and market needs.”
The US dollar fell to its 3-year low against the Euro and British Pound, possibly creating new opportunities for crypto as the global reserve currency hits new difficulties.
The European Central Bank again cut interest rates today, but the US has yet to do so. The dollar’s falling dominance reflects that decade-old fiat warning from Bitcoin’s creator, Satoshi Nakamoto.
Could Dollar Troubles Benefit Crypto?
The US dollar is the world’s most important fiat currency for several reasons: powering a massive consumer economy, the global flow of petroleum, US Treasury bonds, and more.
— The Kobeissi Letter (@KobeissiLetter) June 4, 2025
Nic Puckrin, crypto analyst and founder of The Coin Bureau, discussed these topics and more in an exclusive commentary shared with BeInCrypto. According to Puckrin, however, crypto is immune to some of these concerns in a way that the dollar is not:
“Even if we do experience stagflation, Bitcoin can still protect portfolios as it is increasingly being seen as a fallback option for investors fleeing US assets or losing faith in the US economy, and it is inflation-proof by design. Bitcoin is very different from the rest of the crypto market – there really are no other assets that possess the same safe-haven characteristics,” he said.
Puckrin described a Bitcoin maximalist vision for crypto investment, as Satoshi Nakamoto designed it to resist dollar turmoil.
Bitcoin and the whole crypto ecosystem were born out of the wreckage of the 2008 collapse, hence its strong emphasis on trustless, decentralized governance.
Unfortunately, today’s community can forget the hard experience that forged this ethos.
Questions of Governance
How are US institutions responding to the dollar’s trouble, especially compared to the crypto community? The European Central Bank lowered its interest rates today, which President Trump has repeatedly begged Fed Chair Jerome Powell to do.
However, it may not be that simple. The EU is an important consumer bloc and economic region, but the US is the bedrock of the modern economy.
If the Fed cuts rates now, it might exhaust its ability to respond to future crises. After all, it can’t cut rates below zero, and it only has so many tools to use.
These chaotic trade policies are causing havoc on the dollar, whereas crypto liquidations are at a relative low. All this discord reaffirms the reasons that Satoshi built Bitcoin to be separated from the world’s governments.
Trustless and leaderless, Bitcoin is immune to concerns that highly impact nation-states. Puckrin predicts this to fuel BTC investment:
“We could see the split that already exists between Bitcoin and altcoins intensifying, as investors turn to Bitcoin as a store of value, but shun more speculative, risky assets like altcoins. The only other safe haven options would be real-world assets (RWAs), like gold-backed tokenized assets, for example,” he claimed.
Still, although there are very bearish signs, the crisis hasn’t fully matured yet. If a savvy investor wants to pull assets from dollars into crypto before further devaluation occurs, there’s still time.
Ultimately, there’s no absolute way to predict which way the market will go.
Ethereum has seen a period of consolidation under the resistance of $2,681 for the past month. Despite this, the price action has been relatively stable.
However, with significant investor accumulation, led by Consensys and others, Ethereum might experience a turning point, potentially signaling a rise in price.
Ethereum Finds Demand From Investors
Investor sentiment has shifted in favor of Ethereum, with a noticeable uptick in accumulation since the beginning of June. After consistent selling toward the end of May, investors have bought over 300,000 ETH, amounting to $778 million since the beginning of June. This growing accumulation signals increased confidence in Ethereum’s future price potential.
One of the key players in this bullish sentiment is Consensys, which reportedly bought over $300 million worth of Ethereum from Galaxy Digital, according to Arkham. This move highlights rising conviction in Ethereum’s long-term value as large entities continue to secure their positions. As these institutional players show confidence in ETH, it could pave the way for broader investor trust.
Ethereum Exchange Net Position Change. Source: Glassnode
Looking at Ethereum’s macro momentum, the IOMAP indicator reveals a strong demand zone between $2,378 and $2,454. This zone holds over 65.11 million ETH, worth nearly $169 billion, making it unlikely for significant sell-offs to occur in the near future. This large accumulation provides stability and protection against sharp declines in Ethereum’s price, which is contributing to the growing bullish sentiment.
As Ethereum remains well-supported by these large investors, the accumulation pattern appears solid. The absence of selling pressure from holders in the demand zone reduces the risk of a drastic price correction, which could otherwise impact the price of ETH.
Ethereum is currently trading at $2,611, still under the key resistance of $2,681. In order to break past this resistance, Ethereum will need further momentum, which could be driven by the ongoing accumulation and positive investor sentiment.
If the local support at $2,583 remains intact, ETH may successfully flip the $2,681 resistance level. Such a breakout would likely propel Ethereum toward the next resistance point at $2,814, extending its recent gains.
However, if broader market sentiment turns bearish or if selling pressure increases, Ethereum could see a dip to $2,500. A drop to this level would invalidate the bullish outlook and prolong the current period of consolidation, making it essential for ETH to maintain its support levels.
Dego Finance (DEGO) price took to a free fall amid community FUD (fear, uncertainty, and doubt) following an announcement on Wednesday, June 4.
The announcement involved USD1 stablecoin, launched by the Trump family’s World Liberty Financial.
DEGO Price Drops 60%: What Caused The Crash?
The DEGO price, the native token of Dego Finance, dropped nearly 60% following the project’s announcement that it would support USD1, a stablecoin by World Liberty Financial (WLFI), as part of a new liquidity initiative on the BNB Chain.
“We’re officially purchasing $USD1 World Liberty Financial as a liquidity reserve and supporting the liquidity program launched by World Liberty Financial (WLFI) on BNB Chain. This move reflects our commitment to building a stronger DeFi ecosystem — and exploring deeper collaborations with USD1 as we assemble the decentralized LEGO of Web3,” read the announcement.
The team framed the move as a strategic step to strengthen DeFi infrastructure. Notwithstanding, the market reaction was swift and brutal.
This drop suggests fear and confusion among holders. Some community members supported the rationale behind the decision, but acknowledged why the move was concerning.
“Team adding liquidity of DEGO on USD1 allows users to trade DEGO with a stablecoin, improving market access and price stability… by chance this liquidity creates FUD,” one user noted.
In crypto, adding liquidity typically means providing a pool of assets, such as DEGO paired with USD1 to a decentralized exchange (DEX) to facilitate trading.
This should make it easier for users to buy and sell DEGO without relying solely on other volatile cryptos, potentially stabilizing its price. However, several factors likely contributed to the FUD.
If USD1 itself lacks organic usage and is propped up by a few large players (likely market makers or the team behind it), this could create skepticism among DEGO investors.
Therefore, investors might worry that the liquidity pool for DEGO/USD1 is artificial or manipulated. Such concerns could lead to uncertainty about the true value of DEGO.
The market perceives that USD1 is not widely adopted or trusted, making pairing DEGO with it a risky or questionable move, hence the FUD.
Dego Finance Assures Community Amid Panic
Against this backdrop, there are concerns that DEGO may be a scam project, highlighting growing distrust among certain retail investors.
Addressing community fears, Dego Finance released an official statement on Thursday, June 5, following a sharp selloff to calm investor nerves.
“We’re aware of the recent price volatility following the announcement on June 4th, which has understandably caused concern across the community. First and foremost, we want to emphasize: there have been no changes to DEGO’s fundamentals, tokenomics, or long-term vision,” Dego Finance explained.
The team attributed the price drop to short-term market sentiment rather than any underlying flaw in the project.
“The sell-off appears to be driven by short-term market reactions, and we are actively reviewing both on-chain data and external factors to ensure transparency,” the team explained.
Dego Finance committed to working closely with “key partners and exchanges to maintain stability.” The project also emphasized that its long-term mission remains intact: to build a resilient, decentralized incubator driving innovation in DeFi, AI, and Meme culture.
The company also promised upcoming updates and developments, urging the community to stay engaged as more information becomes available.
Meanwhile, it is worth noting that this is not the first time DEGO has suffered a steep price crash. In 2021, the token fell by 51% in just three minutes after being listed on Binance Launchpool. Reportedly, the cause of that drop remains unclear to this day.
In 2021, the token of $DEGO Finance, which was launched on @binance Launchpool, suddenly plummeted within just a few minutes.
CAKE, the native token of decentralized exchange (DEX) PancakeSwap, is today’s top gainer, defying broader market trends.
The token has recorded a modest 3% gain over the past 24 hours, outperforming leading assets like Bitcoin (BTC) and Ethereum (ETH), which are both down by roughly 1% each during the same period. Technical indicators suggest that the rally could continue as it is backed by significant demand from market participants.
CAKE Climbs as Trading Volume Soars 88%
Amid the lull of the broader market over the past week, CAKE has managed to record gains. Currently trading at $2.48, the token has climbed by 9% since May 31.
This bullish trend continues today, evidenced by the trading volume surge accompanying CAKE’s price growth. The token’s trading volume is up 88% over the past day, pointing to heightened investor interest and growing demand for the DeFi asset.
When an asset’s trading volume rises alongside its price, it signals strong buying interest and confirms the strength of the upward price move. This combination suggests growing investor confidence in CAKE and hints that the upward trend may continue in the near term.
Moreover, readings from the altcoin’s BBTrend indicator support this bullish outlook. Observed on a one-day chart, the indicator is currently at 12.76, posting only green histogram bars since May 9.
The BBTrend measures the strength and direction of a trend based on the expansion and contraction of Bollinger Bands. When it returns red bars (negative values), the asset’s price consistently closes near the lower Bollinger Band, reflecting sustained selling pressure and hinting at the potential for further downside.
Conversely, as with CAKE, when BBTrend values are positive, it typically signals a strong uptrend. At 12.76, the momentum indicator confirms increasing bullish pressure among CAKE holders, suggesting that the current rally may have further room to run.
Bullish Indicators Emerge for CAKE, But Will $2.81 Hold?
CAKE’s rising Relative Strength Index (RSI) lends credence to this bullish outlook. As of this writing, the indicator is at 54.75 and in an upward trend.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.
CAKE’s current RSI setup shows a steady rise in token accumulation, a pattern that could drive further price growth.
If current sentiment and volume levels persist, CAKE could extend its gains to $2.81 in the near term.
The long-standing legal battle between the US Securities and Exchange Commission (SEC) and Ripple Labs could face another potential delay.
This possibility looms as both parties have yet to refile their motion correctly, with the June 16 deadline quickly approaching.
Could the Ripple SEC Lawsuit Face a Delay?
On May 8, BeInCrypto reported that the SEC and Ripple jointly requested an indicative ruling from Judge Torres to approve a settlement that would reduce the penalty to $50 million and dissolve the injunction placed on Ripple.
On May 15, Judge Analisa Torres rejected the parties’ request. She stated that if jurisdiction were returned to the court, she would deny the motion because it was procedurally improper.
However, as of June 5, 2025, the parties haven’t refiled. This has raised concerns about the next steps in the case. Attorney Fred Rispoli highlighted the absence of a proper refiling in a recent post on X (formerly Twitter).
He emphasized that on June 16, both parties must submit a status update to the United States Court of Appeals for the Second Circuit.
“20 days later, no refile yet by SEC and Ripple in district court, and the June 16 deadline for the status update in the 2nd Circuit looms large,” Rispoli posted.
The June 16 deadline holds significant weight, as it will determine the next steps in the case. Rispoli noted that if nothing is refiled, the Second Circuit will only have the denial of the first motion to work with. This could restart the briefing schedule.
Alternatively, if a motion is pending before Judge Torres at the time of the status update, the Second Circuit will likely extend the process by an additional 60 days.
“The next step? The message by Torres was clear that both parties need to beg for forgiveness. Ripple will say whatever to get it done, but how much public groveling is the SEC willing to do? And how much groveling will be authorized? We have 12 days to find out,” Rispoli added.
“Rumors swirling. Hearing SEC, Ripple & Judge Torres have finally reached an agreement. Word is Ripple came out on top,” a user stated.
The user added that an announcement could come as early as Friday, June 13. However, he cautioned that the news remains unverified. Additionally, the associated parties have not provided any official confirmation.
Meanwhile, amid the uncertainty, XRP’s price has also taken a hit. BeInCrypto data showed that over the past week, the altcoin’s value has seen an 8.8% decline.
