June 2nd Weekly Market Recap: Falcon and Anchorage Launch fUSD Stablecoin

BlockScholes delivers in-depth, data-driven research to help you navigate the crypto markets with confidence.

This is just the beginning of what we believe will be a fruitful partnership, and we look forward to continuing to provide our users with more value and innovative solutions.

30% discount on Block Scholes Research for Coincall users, use the code: COINCALL30

DeFi Analytics 29th May 2026

Last week's edition of our Crypto DeFi Analytics.

The Digital Chamber Pushes Congress to Advance the CLARITY Act

Risk-on sentiment improved after reports of a tentative 60-day US-Iran deal, helping US equities close at fresh record highs while Brent crude fell below $94 and Treasury yields declined. Crypto sentiment remained more cautious, with BTC rangebound between $72K and $75K, weaker spot ETF demand, falling BTC and ETH Risk Appetite Index readings, and options implied volatility near year-to-date lows. 

Macro data remained sticky, as April PCE rose 3.8% YoY and core PCE climbed to 3.3%, while Q1 GDP was revised lower to 1.6%.

Falcon and Anchorage Launch fUSD Stablecoin

BTC and ETH sold off sharply as ETF outflows accelerated, with BTC dropping to $72.8K and ETH briefly falling below $1,970 amid worsening macro sentiment and concerns around the US-Iran conflict. Fed officials reinforced inflation risks, while Trump suggested Iran wants a deal but warned the US may "finish the job" if negotiations fail. 

In crypto regulation and Web3, the White House advanced CFTC prediction-market rulemaking, authorities charged a Google engineer over alleged Polymarket insider trading, and new institutional stablecoin and USDC payment developments were announced.

Bitwise Hyperliquid ETF Attracts Record $19.05M in Single-Day Inflows

BTC briefly traded above 77K before reversing lower, falling from an intraday high of $77,943 to $75,218, while ETH retraced from $2,137 to $2,057. Spot ETF flows remained negative, with US spot BTC ETFs seeing $333.6M of outflows for an eighth consecutive outflow day, while ETH products recorded $35.04M of outflows for an eleventh consecutive day. 

The reported $1.29B IBIT dark-pool block trade drew attention, but IBIT's net outflow was only ~$192M on the day, well below its $523.2M single-day outflow record, suggesting the trade was largely absorbed in secondary markets rather than translating into a full redemption. In contrast, HYPE ETFs saw $20.45M of inflows, led by Bitwise Hyperliquid ETF ( BHYP), which recorded its largest single-day inflow at $19.05M.

X Layer Has Introduced Exchange OS

Despite the improvement in risk sentiment, crypto volatility remains subdued: BTC briefly recovered from around $74K to above $77.8K, but continues to struggle below the $80K level. Short-dated BTC implied volatility has fallen to 28%, close to a 12-month low, while realised volatility is also compressed at 29%, near its year-to-date low. The volatility surface still points to persistent demand for downside protection, suggesting traders remain cautious despite the spot rebound.