On-chain analyst Ember (@EmberCN) reported that an ETH futures-focused whale completed eight round-trip trades over about two and a half days, holding each position for roughly 1–2 hours before exiting. The account recorded seven profitable trades and one loss, translating to an 87% win rate. With an initial principal of $3 million, the balance rose to $6.67 million, delivering $3.67 million in net profit, up 122%.

Ethereum remained under pressure this year as both chart signals and network fundamentals deteriorated. ETH changed hands around $1,665 on Friday, about 50% below its yearly high and near its lowest level since April 2025, keeping downside risks in focus. Chart setup points to further downside ETH has fallen to $1,665, and the decline could extend in the coming weeks or months. On the chart, the token appears to have formed an inverted cup-and-handle formation, a bearish continuation pattern. The upper boundary sits near $2,455 and the lower boundary near $1,800, implying a pattern height of $655. Using the standard projection method, subtracting that height from the cup's lower side yields a target around $1,155. A break below that area would leave room for a move toward the psychological $1,000 level. Other technical factors also lean bearish. ETH is gradually developing a bearish pennant and is currently trading in the triangle portion of the formation. The token has also stayed below the 50-day and 100-day exponential moving averages; bulls would need a move back above those levels to confirm a rebound. Spot ETH ETF outflows persist A key headwind has been continued selling in U.S. spot Ethereum ETFs. Data show spot ETH ETFs saw more than $15 million of net outflows on Thursday, extending a daily streak that began on June 9. The funds have recorded outflows for five consecutive weeks, taking monthly withdrawals to more than $183 million. May was also weak, with more than $540 million of net outflows. Year-to-date outflows have climbed past $1 billion. BlackRock's iShares Ethereum ETF (ETHA) holds more than $4.7 billion in net assets, while Grayscale's ETH and ETHE stand at $1.47 billion and $1.31 billion, respectively. Staking inflows offer a rare bright spot One supportive datapoint is rising staking activity. Over the past 30 days, investors added more than 834,000 ETH worth over $1 billion to staking pools. The increase is likely tied to ongoing staking activity from Tom Lee's BitMine. Fundamentals losing momentum in DeFi, DEX and RWA Beyond price action, Ethereum's fundamentals have cooled versus prior months and years. While its market share remains significant, its role across several crypto segments has been slipping, weighing on fee generation. Total value locked (TVL) has fallen to $37 billion from about $95 billion a few months ago. Lido's TVL is down 25% over the past 30 days. Aave, Spark, EigenCloud, Morpho, Ether.fi and Grove Finance have each dropped more than 20% over the same period. In decentralized exchange activity, Ethereum has been overtaken by Hyperliquid. Hyperliquid processed more than $240 billion in volume over the past 30 days, compared with $37 billion on Ethereum during that timeframe. A similar slowdown is visible in real-world asset (RWA) tokenization. The value of distributed assets on Ethereum declined 7% over the past 30 days to just over $16 billion. The weaker activity is showing up in fees. Network fees totaled $5.59 million so far this month, down from $16 million last month. Monthly fees have trended lower since peaking at $41 million in October last year.

U.S.-listed spot Ethereum ETFs are under heavy selling pressure, with net outflows recorded in 21 of the past 23 trading days. The 10 spot Ethereum ETF products have logged just two days of net inflows since early May, on June 4 and June 8. Total net outflows reached $541M last month, underscoring the depth of the drawdown. Market participants are now debating whether the cycle's momentum has faded or if the flows reflect late-stage capitulation.

A large trader who had amassed a $35M+ long position in $SPCX has fully exited, realizing a $331K loss. The position had previously shown more than $2M in unrealized gains, but no profits were taken.

ChainCatcher cited SoSoValue data showing that XRP spot ETFs collectively logged $2.0443 million in net inflows on June 12 (U.S. Eastern Time). The only fund to record net inflows was the Canary XRP ETF (XRPC), which added $2.0443 million, lifting its cumulative net inflow to $461 million. As of publication, total net asset value across all XRP spot ETFs stood at $979 million. XRP represented 1.39% of total ETF assets, while cumulative net inflows reached $1.436 billion.

ChainCatcher reports that Ondo Finance has announced SpaceX is now available onchain. Its IPO token, \u0022$SPCX\u0022, is live on the Ondo Global Markets platform with support for Solana, Ethereum and BNB Chain. Ondo said this is the largest IPO in history to be tokenized onchain on its first day of listing.

ME News reported that on June 13 (UTC+8), Hyperliquid's top five assets by 24-hour notional trading volume were concentrated in stocks, indices and commodities, with combined turnover of about $3.344 billion. The SPCXUSDC pair led the list, contributing 41.33% of total volume, far ahead of other products in the segment. The top five assets were SPCX, XYZ100, CL, SP500 and BRENTOIL. (Source: D Pro)

Investor demand for Hedera exposure remains steady. Canary's spot @Hedera ETF recorded a net inflow of $648,540 on June 11, extending a run that has featured just one day of net outflows since the fund launched in October 2025. SoSo data shows the ETF now holds more than 1.5% of $HBAR's current circulating supply.

Plasma's XPL extended its rally over the past 24 hours, climbing 27.54% to $0.07904, according to CoinDesk. Trading activity accelerated alongside the move, with daily volume reaching about $149 million, up 128.02% from the prior day. This advance stands out from earlier rebounds as participation increased across both spot and derivatives venues, suggesting fresh capital returning to the market and a stronger bias toward near-term upside. Open interest rose to roughly $118 million, led by derivatives positioning: XPL open interest increased 47.37% to $117.57 million. When open interest expands in tandem with a sharp price rise, it typically signals new money entering futures rather than traders simply rotating existing exposure, reinforcing the market's short-term bullish tilt. The buildup in leveraged positions can also raise liquidation risk if prices pull back. A failure to hold current levels could translate into higher volatility. Technically, XPL is nearing the upper boundary of a descending channel. Price previously found support around $0.060 near the channel's lower boundary, then rebounded quickly and pushed toward resistance above the channel. It is now approaching that key area without a confirmed breakout. Momentum gauges have improved. The Relative Strength Index (RSI) has rebounded to 50.99 and moved above the signal line near 43.13, pointing to firmer buying pressure. The Parabolic SAR has flipped below price, reflecting short-term bullish momentum. The broader downtrend channel remains intact, keeping the resistance zone in focus. Sustained buying could drive a test of the channel's upper boundary; rejection there could send the token back into consolidation. Derivatives sentiment also leans constructive. The open-interest-weighted funding rate remains positive, indicating stronger demand for longs than shorts and aligning with the recent surge in open interest. Funding has not reached extremes, implying improving sentiment without clear signs of overcrowded long positioning. If price strength persists and additional capital follows, XPL could still have room to move higher.