
pelasti.base.eth
@pelasti
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The US is smashing records:
👉 The national debt is the highest it’s ever been;
👉 The US Dollar Index (DXY), which tracks how strong the dollar is compared to other major currencies, is at a 3-year low and 6.5 points below its 200-day moving average - the biggest gap in 21 years.
... Sure, maybe that wouldn't be something you brag about, but a win is a win? I guess?..
Well, it surely isn't a win for the economy: a weaker dollar means imports get more expensive, inflation risks rise, and confidence in US fiscal stability decreases.
But for crypto… when the dollar gets weaker, investors tend to look for better places to put their money - usually riskier assets that have more upside, like stocks, gold, or Bitcoin.
Historically, periods of a weak dollar have lined up with stronger Bitcoin demand. 0 reply
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xStocks and Robinhood Lead the Tokenized Stocks Revolution
Backed Finance’s xStocks brings real-world stocks like AAPLx, TSLAx, and MSTRx on-chain as 1:1-backed ERC-20 and SPL tokens. Each token represents an actual share held by a Swiss-regulated custodian. These tokens trade 24/7 on Solana and major CEXs like Bybit, Gate, and Kraken, with supply strictly tied to the underlying stock inventory. Partnerships with Raydium, Kamino, Jupiter, and Solflare have driven rapid adoption, with daily volume surpassing $8 million in just three days.
Meanwhile, Robinhood launched its own Arbitrum-based blockchain, minting over 200 stock and ETF tokens. European users will soon be able to trade popular U.S. equities around the clock commission-free, while still receiving cash dividends. By controlling custody and liquidity, Robinhood aims to replace slow, legacy settlement systems with a programmable, always-on equity layer.
The tokenized stock market is no longer the future, it’s here now. 0 reply
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BTC OVERVIEW
Investor sentiment has dropped to Neutral, and prices are mostly moving sideways.
That said, Santiment’s analyst Brian Quinlivan pointed to something that might point things in the right direction:
>On May 29, 550K+ new Bitcoin wallets were created - the highest number since December 2023;
>On June 2, people moved around 240K+ BTC - the highest number since December 2024.
Basically, more wallets and more movement = growing network activity. And that’s generally a bullish sign, especially when the price is stuck in neutral.
On top of that, Bitcoin ETFs, which lost $1.2B last week, have started recovering. In just the past two days, they had $462M in inflows. 0 reply
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