The crypto market moved through a number of barriers this week, with Israel’s strike on Iran triggering a mighty sell-off and the release of CPI data in the U.S., all while institutions doubled down and continued their crypto purchases. Let’s go through this weekly compilation and catch up with the latest market movements.
What Happened in Crypto This Week?
Here are the major headlines on what happened in the crypto industry this past week:
Israel’s Strike on Iran Crashes Crypto Markets
Israel’s military strike on Iran sent shockwaves through the global markets, and crypto was not any exception. The news triggered a sharp sell-off, with Bitcoin (BTC) plummeting as low as $103K and Ethereum erasing its weekly gains as it dropped over 11% to $2,472—both leading cryptocurrencies making leading altcoins bleed. The heightened geopolitical tensions led to over $1.16 billion in liquidations, as investors sought to de-risk amid fears of further escalation in the Middle East.
Institutional Buying Spree Continues: Bitcoin, ETH, and XRP are Major Beneficiaries
Despite market volatility, institutional adoption of cryptocurrencies remained strong as a number of corporate giants continued buying. One of the notable ones was MicroStrategy’s additional purchase of 1,045 BTC, boosting its position to 582,000 Bitcoin, while Japanese firms ANAP, Gumi, and Remixpoint expanded their crypto holdings, with Remixpoint adding ¥887 million in Bitcoin.
Moreover, Nasdaq-listed Trident Digital announced a $500 million XRP reserve plan, signaling confidence in Ripple’s ecosystem. Meanwhile, SharpLink Gaming acquired $463 million in Ethereum, becoming the largest corporate ETH holder.
GENIUS Act (Stablecoin Bill) Moves Forward
The GENIUS Act, a pivotal stablecoin regulatory framework, made significant progress this week, advancing through legislative channels. The bill aims to provide clarity and stability for stablecoin issuers, fostering innovation while ensuring consumer protections. This development boosted market sentiment, as investors view stablecoins as a critical bridge between traditional finance and crypto. The bill could potentially drive broader crypto adoption in the country in the coming months.
Solana ETF Gains Traction, Approval Odds Improve
The prospect of a spot Solana ETF has gained momentum as Invesco and Galaxy Digital filed for a spot Solana ETF on 13 June, marking a significant step toward mainstream altcoin investment vehicles. Analyst James Seyffart estimated a 90% chance of approval, citing favorable regulatory trends and growing institutional interest in altcoins like Ethereum (ETH), Solana (SOL), and XRP. This development fueled optimism among Solana investors, despite the asset’s recent price dip in the broader market turmoil.
Ukrainian Lawmakers Introduce Bitcoin Reserve Bill
Joining the global trend, Ukrainian lawmakers introduced a bill to establish Bitcoin and other cryptocurrencies as part of the nation’s strategic reserves. This move positions Ukraine as a potential leader in state-level crypto adoption, following in the footsteps of countries exploring digital assets as a hedge against economic uncertainty. If passed, the bill could inspire similar initiatives globally, further legitimizing cryptocurrencies as a reserve asset class.
Crypto News You Might Have Missed
Buzz of the week: Ripple IPO
The announcement of a $700 million share buyback program by Ripple set the crypto world abuzz, reigniting chatter about a potential initial public offering (IPO). While Ripple CEO Brad Garlinghouse firmly dismissed 2025 IPO plans, emphasizing the company’s strong cash position and no need for external capital, the buyback signals confidence in Ripple’s long-term value, especially after its legal victories against the SEC.
The move, seen as a way to reward early investors like Japan’s SBI Holdings, has sparked speculation that Ripple might be laying the groundwork for a future public listing, with some analysts eyeing a 2026 or later debut.
The $700 million buyback has stirred excitement about Ripple’s valuation, with the $175 per share price tag hinting at a potential $30 billion-plus market cap if an IPO were to materialize. The share price chatter underscores Ripple’s growing influence, but for now, the IPO remains a tantalizing “maybe” for eager investors.
Exclusive Insight
Amid increasing inflows, meme coins have lost $20 billion in market cap over the past month, slammed by crypto sell-offs and waning hype. This sharp decline reflects meme coins’ drastic volatility, uncertain interest, and fading retail frenzy.
Read Full: Meme Coins Lose $20B in 1 Month: Where Did The Money Go?
Top Gainers and Losers This Week
| Gainers | Losers |
| AERO (Aerodrome Finance): +43% | DEXE (DeXe): -16% |
| KAIA (Kaia): +39% | KAS (Kaspa): -14% |
| SPX (SPX6900): +30% | WLD (Worldcoin): -12% |
| AB (AB): +29% | IMX (Immutable): -12% |
| SKY (Sky): +23% | JUP (Jupiter): -11% |
What to Expect for Next Week?
For next week, the crypto market is braced for turbulence as macroeconomic events and crypto-specific developments collide. While Bitcoin hovers around $105K, the Monday opening will decide if it will break through a new high or risk the six-figure market price.
Also read: Litecoin Price Prediction: Can LTC Price Regain $100?