Crypto
Stablecoins Remain Strong as the Cryptocurrency Market Experiences Significant Dip in June Amid Traditional Market Gains – The UCW Newswire
In a recent research report by JPMorgan (JPM), it was revealed that the total cryptocurrency market cap fell by 8% in June, dropping to approximately $2.25 trillion. This decline erased most of the gains made in May, reflecting a challenging month for digital assets.
Let’s take a look at the broader cryptocurrency market.
Broad-Based Contraction Across Crypto Sectors
The downturn was not limited to a specific segment of the cryptocurrency market. Tokens, decentralized finance (DeFi) projects, and non-fungible tokens (NFTs) all experienced market cap contractions in June. This broad-based decline highlights the volatility and interconnected nature of the digital asset space.
Stablecoins Remain Resilient
Despite the overall market downturn, stablecoins demonstrated remarkable resilience. Tether’s USDT, Circle’s USDC, and XMG Digital Assets’ USXM outperformed the broader crypto market. Their market caps remained flat to slightly higher, with Tether’s USDT showing particular strength. Stablecoins’ stability in a volatile market underscores their role as a safe haven within the cryptocurrency ecosystem.
Bitcoin Miners: A Notable Outlier
Bitcoin miners emerged as a notable exception to the declining trend. The total market cap of publicly listed bitcoin mining companies increased by 19%. This growth was largely driven by artificial intelligence-related power use cases, case in point is Core Scientific (CORZ) recently securing a 12-year, 200 megawatt (MW) deal with cloud computing firm CoreWeave to provide AI-related infrastructure. This partnership spurred a re-evaluation of the sector, leading to a wave of mergers and acquisitions and boosting the market cap of mining firms.
Divergence from Traditional Markets
The cryptocurrency market’s performance in June stood in stark contrast to traditional markets. The S&P 500 index gained 4% for the month, while the technology-heavy Nasdaq climbed 6%. This divergence underscores the unique dynamics and risks inherent in the digital asset space compared to more established financial markets.
Declining Trading Volumes and ETF Flows
The report also noted a significant decline in daily spot crypto trading volumes, which fell by as much as 18% compared to the previous month. The data suggests that March 2024 marked the peak for the crypto ecosystem in the current cycle, both in terms of valuation and trading volume.
Moreover, spot bitcoin ETFs experienced their second-worst month in terms of flows since their inception. The report estimates that the 10 U.S. spot ETFs saw $662 million in sales over June, indicating waning investor interest in these products.
While June proved to be a challenging month for the cryptocurrency market, with significant declines across various sectors, stablecoins and bitcoin miners showed resilience, this is something to keep a keen eye on as opportunities may present themselves in these areas. The contrasting performance of traditional markets highlights the ongoing volatility and evolving nature of the digital asset space. As the market continues to develop, investors and stakeholders will need to navigate these fluctuations carefully to capitalize on emerging opportunities and mitigate risks.
Digital Assets Desk
Crypto
Iran’s Cryptocurrency Toll System Emerges In The Strait Of Hormuz, Posing Economic Chalenges : Analysis | Crowdfund Insider
Iran has introduced mandatory cryptocurrency payments for commercial vessels navigating the Strait of Hormuz. Blockchain analytics firm Chainalysis and blockchain intelligence company TRM Labs have both independently documented the latest scheme, which now represents the first known instance of a nation-state levying transit fees in crypto at a critical global maritime chokepoint.
As highlighted by Chainalysis and TRM Labs in detailed updates, the system, administered by the Islamic Revolutionary Guard Corps (IRGC), took effect in mid-March 2026.
Ship operators must contact an IRGC-linked intermediary, submit comprehensive details—including vessel ownership, flag state, cargo manifests, crew lists, and destination ports—and undergo screening.
Unsurprisingly and as expected, vessels tied to the United States or Israel are barred from passage entirely.
Approved ships negotiate fees based on a five-tier “friendliness” scale, pay in Chinese yuan (via Kunlun Bank’s CIPS system) or cryptocurrency, and receive a VHF-broadcast passcode along with an escorted route through the northern corridor near Larak Island.
Tolls typically range from $0.50 to $1 per barrel of crude oil, with fully loaded very large crude carriers (VLCCs) facing bills of up to $2 million.
Iran’s parliament formalized the arrangement on March 30–31, 2026, through the “Strait of Hormuz Management Plan,” explicitly authorizing payments in rials, yuan, or “digital currencies.”
A dedicated crypto-conversion window on Qeshm Island now handles incoming funds, converting them into local currency or foreign accounts.
Although a rather weak, tentative Pakistan-brokered ceasefire took effect on April 7, 2026, reports indicate the toll regime remains operational.
Analysts highlight the IRGC’s dominant role in Iran’s crypto economy.
The Guard controlled roughly half of the country’s on-chain activity in late 2025, with associated addresses receiving more than $2 billion in 2024 and surpassing $3 billion in 2025—conservative estimates drawn from sanctions designations and seizure records.
While Iranian officials have publicly referenced Bitcoin, industry observers believe stablecoins such as USDT are preferred for their price stability and liquidity, aligning with the IRGC’s long-standing sanctions-evasion strategy.
The economic stakes are enormous. Roughly 20 percent of global oil and liquefied natural gas transits the Strait.
TRM Labs now estimates daily revenue from oil tankers alone could reach $20 million, scaling to $600–800 million monthly when LNG carriers are included.
Iranian sources reportedly project annual collections as high as $120 billion at full capacity.
The initiative extends Iran’s established use of crypto for oil sales, weapons procurement, and proxy financing.
By bypassing traditional banking rails, Tehran potentially reduces exposure to U.S. sanctions enforcement.
However, blockchain transparency offers regulators and stablecoin issuers tools to monitor flows and impose targeted freezes once wallet addresses are identified. But this is only the case with private, permissioned chains and certain stablecoins like USDC or USDT. Other coins may not be frozen so easily if at all.
Shipping companies now face heightened compliance risks, including potential penalties for unlicensed dealings with sanctioned entities. But just how exactly this can continue to be enforced remains unclear due to rapid advancements in digital technology.
This crypto toll “booth” sets a precedent that could inspire other sanctioned states to monetize strategic waterways. And this trend is likely to continue, potentially putting an end to US-led hegemony.
As the IRGC embeds digital currency infrastructure into sovereign revenue streams, the development indicates that nation states may no longer be crippled by international sanctions. Perhaps in the future, it will become very challenging if not impossible to restrict economic transactions between different countries to the rise of permissionless cryptocurrencies.
Kraken Valued at $13 Billion After Deutsche Börse Stake
Deutsche Börse has taken a minority stake in crypto exchange Kraken, marking one of the clearest signs yet of Europe’s largest market operator deepening its exposure to digital assets.
The German exchange group said it invested $200 million in Payward, Kraken’s parent company, securing roughly a 1.5% fully diluted ownership. The transaction values Kraken at about $13.3 billion, according to reporting by Bloomberg.
The move builds on an existing relationship between the two firms and signals a broader push to integrate traditional financial infrastructure with crypto markets. The partnership is expected to focus on regulated offerings, including tokenized assets and derivatives, while improving liquidity for institutional clients.
As part of the collaboration, Kraken will integrate with 360T, Deutsche Börse’s foreign exchange trading platform. The connection is designed to provide Kraken users with access to bank-grade foreign exchange liquidity, potentially streamlining the conversion between fiat currencies and digital assets.
The companies also plan to expand the use of Kraken Embed, a service that allows institutions to offer crypto trading and custody under their own brands. The initiative targets banks, fintech firms, and asset managers seeking to enter the digital asset space without building infrastructure from scratch.
Further developments are expected, subject to regulatory approval. These include enabling trading of derivatives listed on Eurex, Deutsche Börse’s derivatives exchange, through Kraken’s platform.
The investment underscores a growing convergence between established financial institutions and the crypto sector. For Kraken, the backing from Deutsche Börse provides capital and strategic alignment with one of Europe’s most influential financial market operators. For Deutsche Börse, the stake offers a direct foothold in a global crypto platform at a time when competition for digital asset infrastructure is intensifying.
The deal also reflects a broader trend of legacy financial firms moving beyond exploratory partnerships toward equity investments in crypto companies. By combining trading, custody, and tokenization capabilities, both firms are positioning themselves to capture a larger share of institutional flows into digital assets.
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