Tron will go public in the US through a reverse merger with SRM Entertainment, a Nasdaq-listed company.

Eric Trump is 'biggest fan' of Justin Sun, but denies involvement in Tron’s public venture

Crypto asset investment products experienced another challenging week as 
capital outflows continued for a second consecutive period. According to the 
latest report from CoinShares, a total of $584 million exited crypto-focused 
investment vehicles, pushing the two-week cumulative outflows to $1.2 billion. 
This movement coincides with investor uncertainty surrounding the likelihood 
of interest rate cuts by the US Federal Reserve this year, which James 
Butterfill, Head of Research at CoinShares, believes is contributing to waning 
sentiment in the market. Butterfill attributed the investor pullback to 
growing skepticism about macroeconomic policy shifts, particularly rate 
reductions. At the same time, exchange-traded product (ETP) activity hit a new 
low, with global ETP volumes falling to just $6.9 billion, marking the weakest 
weekly trading volume since the launch of spot Bitcoin ETFs in the United 
States earlier this year. Related Reading: Ethereum Whales Feast While Retail 
Flees—ETH Ocean Just Got Hungrier Bitcoin and Ethereum Bear the Brunt of The 
Crypto Outflows Bitcoin accounted for the majority of this week&#8217;s outflows, 
with $630 million leaving BTC investment products. Despite the significant 
movement of funds out of long Bitcoin positions, short Bitcoin products also 
recorded outflows totaling $1.2 million. This suggests that investors are not 
currently betting heavily on downside exposure, opting instead to stay on the 
sidelines amid uncertain market conditions. Ethereum similarly saw negative 
flow activity, with $58 million in outflows, continuing the trend of cautious 
investor behavior across major assets. The report also highlighted 
geographical breakdowns, noting that the United States led all regions with 
$475 million in outflows, followed by Canada at $109 million. Germany and Hong 
Kong recorded smaller outflows at $24 million and $19 million, respectively. 
In contrast, Switzerland and Brazil stood out as exceptions to the broader 
trend, bringing in net inflows of $39 million and $48.5 million, respectively. 
This divergence suggests that local factors or institutional strategies in 
those regions may be driving different investment behaviors. Altcoins Draw 
Selective Support While sentiment remained bearish for large-cap assets, some 
altcoins managed to attract capital inflows. Solana, Litecoin, and Polygon saw 
modest but notable gains of $2.7 million, $1.3 million, and $1 million, 
respectively. These inflows may reflect opportunistic positioning by investors 
seeking exposure to assets that have underperformed recently. Additionally, 
multi-asset investment products, which spread exposure across various 
cryptocurrencies, recorded $98 million in inflows. This signals that some 
investors are using recent price weaknesses to gain diversified access to the 
market rather than concentrating bets on single tokens. Related Reading: Still 
Sleeping On XRP? Analyst Says $8 Breakout Is ‘Just Waiting’ The continued 
divergence in fund flows highlights the complex sentiment currently 
influencing crypto markets. With macroeconomic uncertainty still dominating 
investor outlooks, digital asset markets remain reactive to both global 
monetary policy signals and evolving regional investment trends. Featured 
image created with DALL-E, Chart from TradingView

Crypto Funds Hit With Record Outflows, But Altcoin Buyers Smell Opportunity

Ethereum price attempted a fresh increase above $2,600. ETH is now trimming 
gains and might struggle to stay above the $2,500 support. Ethereum started a 
fresh decline below the $2,600 level. The price is trading below $2,575 and 
the 100-hourly Simple Moving Average. There is a bullish trend line forming 
with support at $2,525 on the hourly chart of ETH/USD (data feed via Kraken). 
The pair could start a fresh increase if it stays above the $2,500 zone in the 
near term. Ethereum Price Corrects Gains Ethereum price found support near 
$2,440 and started a recovery wave, like Bitcoin. ETH price recovered above 
the $2,500 and $2,550 resistance levels. The price even spiked above the 
$2,620 resistance. There was a move above the 23.6% Fib retracement level of 
the downward move from the $2,880 swing high to the $2,440 low. However, the 
bears remained active near the $2,660 resistance zone. The bears defended the 
50% Fib retracement level of the downward move from the $2,880 swing high to 
the $2,440 low. The price is again moving lower below $2,600. Ethereum price 
is now trading below $2,575 and the 100-hourly Simple Moving Average. Besides, 
there is a bullish trend line forming with support at $2,525 on the hourly 
chart of ETH/USD. On the upside, the price could face resistance near the 
$2,620 level. The next key resistance is near the $2,640 level. The first 
major resistance is near the $2,660 level. A clear move above the $2,660 
resistance might send the price toward the $2,720 resistance. An upside break 
above the $2,720 resistance might call for more gains in the coming sessions. 
In the stated case, Ether could rise toward the $2,800 resistance zone or even 
$2,880 in the near term. More Losses In ETH? If Ethereum fails to clear the 
$2,660 resistance, it could start a fresh decline. Initial support on the 
downside is near the $2,540 level. The first major support sits near the 
$2,525 zone and the trend line. A clear move below the $2,525 support might 
push the price toward the $2,500 support. Any more losses might send the price 
toward the $2,440 support level in the near term. The next key support sits at 
$2,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining 
momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH/USD is now below 
the 50 zone. Major Support Level – $2,500 Major Resistance Level – $2,660

Ethereum Price Shows Weakness, Eyes Key Support as Bears Loom

JPMorgan Chase has filed a service mark for “JPMD,” signaling an aggressive 
push into blockchain, digital assets, and decentralized finance infrastructure 
at institutional scale. JPMorgan Files Service Mark for JPMD in Strategic 
Blockchain and Digital Asset Expansion Plan JPMorgan Chase Bank submitted a 
service mark application on June 15 for the mark “JPMD,” signaling a […]

JPMorgan Files Service Mark to Expand Digital Asset and Blockchain Services

Ethereum (ETH) grabbed fresh attention on June 16 as futures open interest 
climbed to a yearly high of $36.56 billion. Prices bounced back above $2,600 
and hovered near a key resistance level that has held for months. Traders 
piled into new positions, setting the stage for a big move in either 
direction. Related Reading: Amid Bitcoin Hype, Seasoned Trader Predicts Sudden 
Drop To This Level Futures Open Interest Hits Yearly High According to 
CoinGlass data, open interest in ETH futures jumped sharply over three days, 
hitting $36.56 billion on Monday. That number marks the highest level since 
last year. It shows that many traders are using borrowed funds to bet on where 
Ethereum will go next. Price Tests Multi‑Year Resistance ETH rose about 4.5% 
in a single session. Based on technical charts, that rally pushed ETH right up 
to a long‑standing descending trendline. Investors have watched that line for 
over a year. It sits just above the 50‑week moving average, while the 200‑week 
average lies just below. If ETH can clear and hold above these levels, it may 
signal room to run. But weak trading volume could mean bulls need more 
firepower before taking charge. ETF Flows Show Steady Support US spot funds 
tied to Ethereum saw a small outflow of $2.18 million on the same day, marking 
the first net withdrawal in 19 days. Yet weekly inflows still totaled $528.12 
million, pushing total assets under management in these ETFs beyond $10 
billion. Institutional Backing Expands ETH Reach Major asset managers are also 
getting more creative with Ethereum. Companies such as BlackRock and Fidelity 
have begun rolling out tokenized treasury products and stablecoin‑backed funds 
that link directly to ETH. Related Reading: Ethereum Whales Feast While Retail 
Flees—ETH Ocean Just Got Hungrier Based on statements by those firms, these 
latest products are intended to expand access for large institutions that have 
avoided so far. They support the notion that Ethereum is not only capable of 
fueling DeFi tests, but also applications in the real world. Ethereum Drift 
Remains Steady Before Potential Ripples Meanwhile, market statistics shows 
Ethereum traded calmly at $2,630 on June 16, showing a 4% increase in the last 
24 hours. Futures markets are warming up, with volumes rising steeply as large 
players pour into ETH-based contracts. Speculative positions usually foretell 
choppy action. As increasing amounts of money move into leveraged positions, 
even modest moves in price can cause forced liquidations—sometimes on both the 
long and short sides. When that occurs, volatility increases. That is to say, 
today&#8217;s tranquil chart can become jagged quickly once those mammoth bets begin 
to be unravel. Featured image from Unsplash, chart from TradingView

Record‑High Ethereum Open Interest Signals Institutional Confidence

Paradigm’s chief legal officer and general counsel said if Roman Storm is 
found guilty, it could slow future software development in the crypto and 
fintech industries.