Log in
- > Bitcoin Tumbles Under $65k USD
- > Hyperliquid’s record-breaking streak continues
- > Stellar tapped for tokenised securities
Bitcoin Tumbles Under $65k USD
The crypto market has endured a challenging beginning to June, with several major assets experiencing losses across the past week.
With most top ten cryptocurrencies by market cap in the red, BTC recorded the largest decline falling 12.6% in the last 7 days (at the time of writing). Solana (-12.4%), Ether (-10%) and XRP (-8%) also felt the pinch.
Broader market sentiment has taken a hit after several months of mostly sideways trading, with BTC and ETH ETFs seeing sustained net outflows in recent weeks.
While most in the community have accepted the bearish conditions, it is still a tough pill to swallow as major US indices continue to tread new all-time highs this week.
This suggests potential liquidity rotation out of digital assets into other asset classes amid broader macro pressures, including geopolitical uncertainty, and weakening consumer sentiment. Analysts have also speculated that investors are holding dry powder for upcoming IPOs such as SpaceX and Anthropic.
Separately, Strategy sold 32 BTC during the period, a small fraction of its holdings. The firm, co-founded by Michael Saylor, is widely known for managing the largest corporate Bitcoin treasury, with Saylor frequently advocating a buy-and-hold approach.
Market participants viewed the transaction as consistent with portfolio management rather than a shift in conviction, although it coincided with the increase in negative sentiment across the crypto markets.
The transaction suggests that, despite a history of accumulation, Strategy’s digital asset treasury may be used as a liquidity source for corporate obligations, including to meet dividend requirements.
Hyperliquid’s record-breaking streak continues
Hyperliquid has been one of the crypto market’s dominant narratives through the first half of 2026 – and its momentum is showing little sign of slowing.
The last few weeks have been some of the most significant in HYPE’s short history, with the project gaining traditional finance exposure via the launch of three Exchange-Traded Products (ETP).As other cryptocurrency ETF flows have softened, HYPE has bucked the trend, posting consecutive green volumes since day one.
The influx of TradFi-linked liquidity has been a key driver of HYPE’s recent price performance, with the token recording several new all-time highs this week. At its peak, Hyperliquid traded at just a tick over $75 USD and had gained nearly 80% over the last month.
This stands in contrast to several large-cap crypto assets, which have seen more muted performance over the same period.
Institutional involvement is just one reason for Hyperliquid’s recent success. The project has, for now, demonstrated an ability to sustain on-chain activity amid softer market conditions. This has been supported in part by the HIP-3 upgrade, which allows users to invest in tokenised markets for practically any asset – as long as there is liquidity. So even if there is minimal volume for crypto perpetuals, Hyperliquid has still seen activity facilitating exposure to commodities, equities, and prediction markets.
So now the question becomes whether the hype (sorry, had to) will continue, or whether those in the green may start to take profits.
Stellar tapped for tokenised securities
Last week, Stellar (XLM) – one of the longest-running crypto projects in the industry – received perhaps the biggest news in its decade-plus history.
The Depository Trust and Clearing Corporation (DTCC) announced it had chosen Stellar’s network as the first public blockchain connected to its tokenisation platform, marking a significant step in the integration of traditional financial infrastructure and Web3 technology.
The DTCC is currently responsible for processing and settling vast volumes of securities transactions across US capital markets and will lean on the Stellar protocol as part of its broader tokenisation initiative.
Key to the partnership is the blockchain’s ability to finalise transactions near-instantly, which according to the DTCC, could improve settlement times and potentially reduce transaction fees for participants.
Interestingly, for the initial period of the DTCC’s tokenised securities platform, the clearing agency will operate dedicated nodes on the Stellar network to support compliance and operational requirements.
Within the pairing, Stellar’s protocol will act largely as a bridge. Assets on the DTCC repository will be mirrored 1:1 as tokens on Stellar’s infrastructure, positioning the blockchain as a settlement layer.
According to the DTCC, initial explorations for tokenised assets will focus on high-liquidity instruments, including ETFs representing major US indices, Treasury bills and bonds.
The press release announcing the partnership went on to outline key factors that led to the selection of Stellar’s frameworks over competitors:
‘Stellar’s proven track record with institutional assets onchain is an important factor in our evaluation of blockchain networks. Its emphasis on compliance, transaction throughput and low-cost operations meets our rigorous standards and will help ensure we’re ready for growth as usage of blockchain networks for real-world assets transactions increases.’ – Nadine Chakar, DTCC Managing Director
The annoucement helped drive renewed interest in Stellar, with XLM rising approximately 20% over the following seven days.
DISCLAIMER: This content is for general information and educational purposes only. It is not legal, financial, tax or investment advice and does not consider your objectives, financial situation or needs. Digital assets are high-risk and volatile, and investing may result in significant loss. You should consider seeking independent professional advice (legal, financial and tax) before acting. Past performance is not a reliable indicator of future results. Swyftx does not recommend or endorse any digital assets. This content should not be construed or relied upon as an offer, solicitation, or recommendation to buy, sell or hold any digital asset or financial product. Any views expressed are current only as at the date of publication and may change without notice. Before investing, please read the Swyftx Terms of Use and Risk Disclosure Statement located on our website. (edited)
Ben Knight
