CoinMy Research Institute · Web3 Weekly

Issue #009 | June 22 to June 28, 2026

Insights Across the Crypto Market

1. Three Takeaways of the Week

1. Bitcoin broke $60,000 and is heading for a rare back to back quarterly loss. BTC fell below $60,000 and closed the week down almost 7%, with altcoins lagging harder. Galaxy Digital CEO Mike Novogratz pinned the selloff on a “MicroStrategy led breakdown in confidence,” while on chain UTXO data flagged capitulation. The standout detail: Michael Saylor signaled another buy even with Strategy sitting roughly $13 billion underwater. Conviction and leverage are now on opposite sides of the same trade.
2. The Hormuz shadow war reignited and dragged the oil premium back. Fresh US and Iran strikes over the weekend ended the brief calm. Iran insists it has sole control of the Strait, mines are now expected to complicate shipping for months, and a helicopter crash near Saudi Aramco’s Ras Tanura export hub killed 14. Brent opened up about 1.9% and Putin floated a full diesel export ban. The energy risk premium is back, and crypto felt the correlation.
3. Tokenization plumbing kept widening even as price fell. While the tape sold off, the rails advanced. The US FHFA ordered Fannie Mae and Freddie Mac to prepare a crypto mortgage proposal, asset managers filed fresh onchain funds, stablecoin rails expanded into new markets, and the Injective Summit drew Wall Street managers, a stablecoin giant and a sitting federal regulator. Infrastructure kept compounding while the chart did not.

2. Market Pulse

Key takeaway: This was a risk off week with two engines. Bitcoin lost a psychological level on a confidence and leverage story, while geopolitics put a fresh bid under oil. The notable part is what did not break: the tokenization and regulated access rails kept advancing through the drawdown. When price and infrastructure diverge this clearly, the durable signal sits with the rails, not the candle.

3. Sector Rotation

1) RWA and Tokenization (Lead, eighth week running)

• The US FHFA ordered Fannie Mae and Freddie Mac to prepare a crypto mortgage proposal, a first step toward recognizing digital assets in housing finance.
• Asset managers filed new onchain funds and stablecoin rails expanded into new markets, including a UK regulated bond fund, gold and memory stocks brought onchain on Solana.
• The Injective Summit gathered Wall Street managers, a stablecoin giant and a sitting federal regulator on one stage.
• Read: Tokenization is no longer waiting for a friendly tape. It advanced during a 7% Bitcoin drawdown, which is the strongest possible evidence that the institutional buildout runs on its own clock.

2) Stablecoins and Payments (Firm)

• Stablecoin rails expanded into new markets this week, continuing the steady institutional product buildout from prior weeks.
• Regulated reserve and settlement infrastructure stayed in motion even as spot prices fell.
• Read: The regulated stablecoin layer keeps widening its lane regardless of sentiment. It is the quiet compounder of this cycle.

3) AI x Crypto (Building)

• The onchain agent economy now has a scoreboard. ERC-8004 Agent Passport data showed 246,446 total agents, with reputation and commerce leaderboards going live.
• Virtuals brought tokenized equities to AI agents through Ondo Finance, blending the RWA and agent narratives.
• Read: The agent economy is moving from hype to measurable activity. When agents start transacting against tokenized real assets, the AI and RWA theses stop being separate trades.

4) BTC and ETF (Weak)

• Bitcoin fell below $60,000 and is on track for a rare back to back quarterly loss, down nearly 7% on the week.
• Novogratz tied the move to a confidence breakdown around leveraged corporate treasuries, while UTXO data flagged capitulation.
• Read: A clean break of $60,000 on a confidence story is a different signal from a macro flush. The market is testing whether the corporate treasury bid is a floor or a fault line.

5) DeFi (Lagging)

• Loopring, an early Ethereum zkRollup pioneer, said it will shut down its DEX, arguing modern zkEVM designs have overtaken its architecture.
• Binance was booted from the EU, adding a regulatory headwind to the sector.
• Multicoin Capital projected Hyperliquid’s HYPE token could reach $319 by 2028, a rare bullish outlier in a soft week.
• Read: DeFi is consolidating around the strongest venues. Legacy designs are retiring and regulatory pressure is rising, which concentrates flow into a shorter list of winners.

4. Policy Watch

• United States: The FHFA, under Director William Pulte, ordered Fannie Mae and Freddie Mac to prepare a crypto mortgage proposal, a structural step toward digital assets in housing finance. The Fed debate hardened, with Richmond Fed President Barkin saying inflation remains too high and that reaching the 2% target without further disinflation looks hard. Kevin Warsh continued reshaping the Fed’s operating style toward a Greenspan era model, and Alan Greenspan died this week at 100.
• Iran and the Middle East: Fresh US and Iran strikes over the weekend reopened the conflict. Iran insists it has sole control of the Strait of Hormuz, its foreign minister warned interference would delay reopening, and shipping executives warned mines could hold back transit for months. The US and Iran are set to meet Tuesday in Qatar to address the Strait dispute.
• Europe: The ECB held its central banking forum in Sintra through July 1. Binance was removed from the EU, sharpening the bloc’s enforcement stance on offshore exchanges.
• Asia: China’s central bank added overnight reverse repo operations to manage quarter end liquidity. Samsung and SK Hynix are expected to announce major investment moves in the week ahead.

5. Risk and Security

• SecondFi $2.4 million Cardano breach. SecondFi outlined a recovery plan after a $2.4 million wallet breach on Cardano. Smart contract and wallet custody remain the standing structural risk in DeFi, and a clear recovery plan is now the difference between a setback and a collapse.
• Strategy sits about $13 billion underwater. With MSTR deep in the red, Novogratz framed the Bitcoin selloff as a confidence breakdown around leveraged corporate treasuries. Concentrated leverage in a single buyer class is a systemic tail for the whole asset.
• Aramco refinery helicopter crash. A helicopter crash near Saudi Aramco’s Ras Tanura export hub killed 14, the same week Hormuz tensions returned. Physical energy infrastructure risk now feeds straight into the macro tape that crypto trades against.
• Hormuz mines. Shipping executives warned mines could complicate the Strait for months. A slow burn supply risk keeps a floor under oil and a lid on global risk appetite.
• Lesson: This week’s risk stacked protocol custody, corporate leverage and physical geopolitics into one tape. The common factor was confidence, not any single chart. Size for a market where leverage and liquidity, not technicals, set the tone.

6. KOL Sentiment

Mike Novogratz (Galaxy Digital CEO): “A MicroStrategy led breakdown in confidence is driving the Bitcoin selloff.”

Michael Saylor (@saylor): Signaled another Bitcoin buy even with Strategy sitting roughly $13 billion underwater.

Thomas Barkin (Richmond Fed President): “Inflation remains too high. It is hard to reach the 2% target without further disinflation.”

Abbas Araghchi (Iran Foreign Minister): “Any interference in the Strait of Hormuz will delay its reopening.”

Multicoin Capital: Projected Hyperliquid’s HYPE token could reach $319 by 2028 as the platform gains ground on centralized exchanges.

7. CoinMy Spotlight

• Platform: CoinMy’s compliance first build keeps tracking where institutional flow is heading. As the FHFA wires crypto into housing finance and the Injective Summit puts a sitting regulator on stage with Wall Street, CoinMy’s positioning in regulated access stays on the right side of the cycle, the thesis CoinMy Research has published for nine straight weeks.
• Product: CoinMy’s USDT margined perpetuals on equities, precious metals and energy let users trade this exact macro mix from one account, from the oil premium snapping back to a Bitcoin breaking key support. Copy Trading is live, Capital Protected Copy Trading is in development, and CoinAI keeps refining its market interpretation layer for weeks exactly like this one.
• Research: This is Issue #009 of CoinMy Web3 Weekly. Published every Monday.
• Channels: Website / X (@CoinMyX) / Telegram / Discord / Medium / Instagram.

8. Week Ahead (June 29 to July 5)

Disclaimer

This report is published by CoinMy Research Institute for informational purposes only and does not constitute investment advice. Crypto assets are highly volatile; trade at your own risk.

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