On-chain Activity Drops in Bitcoin
The decline in the daily number of transactions in the Bitcoin network is due to a sharp drop in non-financial activity and the growing influence of large participants, Glassnode analysts found. In 2023–2024, the volume of on-chain transactions grew and reached a peak of 734,000 in November. Since the beginning of 2025, the metric has fallen to 320,000–500,000, approaching the lows of October 2023. At the same time, the volume of value transferred remains high — an average of $7.5 billion per day.
According to experts, the decline is explained by the fading interest in assets based on Taproot (Ordinals) and OP_Return (Runes). Financial transactions remain stable, but their average amount has grown to $36,200, and the share of transactions from $100,000 has increased from 66% to 80%. For comparison, in December 2022, 34% of transactions were under $100,000, now only 11%. Most of the Bitcoin economy has moved off-chain, mostly to centralized exchanges. Over the year, the average daily trading volume on CEX was about $10 billion, reaching $23 billion at its peak. There has also been a surge in interest in derivatives and leveraged trading. The volume of the off-chain BTC market regularly exceeds on-chain activity by 7-16 times.
TRON Rate Up 9%
On June 16, the TRON token (TRX) sharply increased in price by about 9%, rising from ~$0.27 to ~$0.30, after which it rolled back to ~$0.28. The surge in price dynamics occurred against the backdrop of the FT publication about the possible entry of the blockchain project founded by Justin Sun into the American stock exchange. According to the material, Tron, a company affiliated with Sun, plans to go public through a reverse merger with SRM Entertainment, registered on the Nasdaq.
At the same time, SRM Entertainment did not confirm the merger in a press release, but announced an agreement with an unnamed private investor to purchase 100,000 shares for $100 million. The funds are planned to be used to form a corporate treasury in TRX.
Bitcoin Network Fees Drop to 3-Year Low
Since the beginning of June, Bitcoin miners have earned about $7 million in fees — only 0.97% of the total income of $722.8 million. This figure may update the minimum since January 2022, noted analysts at TheMinerMag. By the middle of the month, the share of fees in daily revenue dropped to 0.65%. The average weekly number of transactions on the network dropped to the lowest level since October 2023.
The fall in fee income began after the April halving of 2024, when a surge in activity was recorded against the backdrop of the launch of the Runes protocol. In May of the same year, with a new reward of 3.125 BTC per block, the share of fees was still 6.7%. A year later — only 1.3%.
Amid the growth of the hash rate and the decrease in network fees, the profitability of mining continues to decline. The hash price remains at $52–53 per PH/s per day, despite the fact that the Bitcoin rate remains above $100,000. For comparison: in December 2024, at a similar price, the indicator exceeded $60.
Ethereum Staking Volume Reaches All-Time High
Ethereum staking volume has reached a new record of about 35.12 million ETH, which is about 29% of the total cryptocurrency circulation. The number of validators has approached the 1.1 million mark. The total value of locked assets is estimated at $121.7 billion, which is more than 20% of the ETH market capitalization. The Lido platform still accounts for the largest share at 25.7%, despite an outflow of 119,332 ETH over the past month. The Ether.Fi protocol was the leader in growth, having received 316,185 ETH in 30 days.
Polygon zkEVM Team Launches Independent ZisK Project
Polygon co-founder Jordi Beilina, along with the team of seven developers behind Polygon zkEVM, announced the launch of a new independent project, ZisK. The move follows a recent shakeup, with co-founder Sandeep Nailwal taking control of the Polygon Foundation as its first CEO and presenting an updated strategy. As part of the Polygon PoS and AggLayer push, Polygon zkEVM is scheduled to shut down by 2026. According to Growthepie analyst Lorenz Lehmann, the Polygon zkEVM project (formerly Hermez, acquired for $250 million in 2021) was losing over $1 million per year.
The new ZisK project is positioned as a "new era" in the development of zero-knowledge technologies. It is based on the universal zkProver and offers a modular architecture, allowing the system to be used as a library or a standalone tool for generating zk-proofs. Ethereum projects are given the opportunity to both directly integrate the technology and customize it to suit their own needs.
Crypto Investor Loses Savings After Zoom Conference
Hypersphere partner Mehdi Farook fell victim to a phishing attack via a fake Zoom call. The attack began with a Telegram message from his friend Alex Lin. They had previously communicated, so the request for a call did not arouse suspicion. Farook sent a link to Calendly, after which a meeting was scheduled.
Before the call, the scammer insisted on switching to Zoom Business "for compliance purposes" and said that another friend would be joining. This seemed normal to Farook - he regularly participated in treasury negotiations. There was no sound during the Zoom call. In the chat, he was asked to update the application, and after running the "update", the device was compromised. Six wallets were affected.
According to Farook, the attacker continued to chat calmly on Telegram, and Lin's account was hacked. Later, white hat hackers contacted him and found out that the attack was carried out by the DangerousPassword group, which is linked to the DPRK.
