Today's News Recap

L2 Launch - Sony launches Layer-2 blockchain Soneium with a gaming incubator.

SHIB Slips - Shiba Inu's downtrend persists with a 63% daily burn rate decline. 

ETH Excels - Ethereum products lead crypto inflows despite global fund slowdown amid Fed policy uncertainty.

Full News Recap

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Messari Protocol Reporting

Messari's protocol reports give you a deep dive on the foundation and state of top crypto protocols, including key metrics and notable events. See the complete list of protocol reports here and get a preview of our latest report below.

Velo Q1 Report

  • Layer-1 / Multichain (Stellar, Nova, BNB Chain)

  • Usage growth despite market headwinds

  • Ecosystem development continues: New listings

  • Pivot to PayFi narrative

Polyhedra Q1 Report

  • EXPchain performance improves

  • zkML development advances

  • Partnership momentum grows: 20+ partnerships announced

  • Ecosystem traction builds

DeGate Pulse Report

  • Enables seamless, gasless swaps cross-chain 

  • Trades and gas fees are fully abstracted into USDC

  • Earn (curated yield vaults), Alpha Hub (airdrop discovery), and Meme @ DeGate (memecoin discovery)

  • Secure Key Architecture: Deterministic key management

Two Bits

An Ode to the Crypto Treasury Trade

By: Whynonah

Michael Saylor, founder of MicroStrategy. 

At one point, the SEC’s favorite chew toy for accounting irregularities. And now, Bitcoin’s de facto buyer. Somewhere between 2020 and 2021, Saylor looked at his sleepy enterprise analytics company and said: “What if… we just bought all the Bitcoin?” And so he did.

MicroStrategy now holds 580,000+ BTC, more than any sovereign wealth fund or hedge fund on the planet. How? He issued stock, issued debt, bought Bitcoin, rinsed, and repeated. And he’s not alone; 200+ entities hold BTC on their balance sheets.

Here are a few other firms that’ve recently jumped onto the Saylor-esque bandwagon:

  • Webus filed to raise $300 million for an XRP treasury (June 4, 2025).

  • Classover signs a $500 million convertible note deal to buy SOL (June 3, 2025).

  • K33 raises $6.3 million for their BTC treasury (May 28, 2025)

  • GameStop recently acquired 4,710 BTC (May 28, 2025).

  • Trump Media & Technology Group announced plans to raise $2.5 billion to establish a BTC treasury (May 27, 2025).

  • SharpLink Gaming initiated an ETH treasury strategy with a $425 million private placement (May 27, 2025). 

  • Sol Strategies filed to raise $1B to deepen their SOL exposure (May 27, 2025).

  • DeFi Development Cord holds 48.2k SOL and recently raised $1 billion for general corporate purposes, including buying more SOL (April 25, 2025).

  • Upexi raised $100 million to invest in SOL (April 21, 2025).

When will this finally reach its breaking point? Only time shall tell.

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