The crypto market overview on the morning of June 22 started with several notable events: Polymarket was accused of paying bloggers for staged wins, the Secret Network bridge lost $4.67 million due to a vulnerability, and a major Japanese pension fund decided for the first time to allocate part of its capital to cryptocurrency.
- Polymarket paid bloggers for staged wins, according to an investigation.
- The Secret Network bridge was hacked due to a vulnerability that allowed the issuance of unsecured wrapped tokens.
- The Japanese pension fund will allocate part of its funds to cryptocurrency for the first time.
Basic Concepts of the Crypto Market
Cryptocurrency is a digital asset that exists on a network and is used for transfers, investments, or operating within individual projects. Its price changes on exchanges and depends on supply, demand, and market participants’ sentiment.
Blockchain is a distributed ledger where data about transfers is stored in a chain of blocks. This system helps verify transactions without a single control center.
- Token: a digital asset within a specific network or project.
- Smart contract: a program on the blockchain that automatically executes the terms of a deal.
- Decentralization: a network structure where control is distributed among participants rather than concentrated in a single company or organization.
Where to Track Crypto Market Prices and Data
Cryptocurrency prices are usually tracked through crypto exchanges, quote aggregators, blockchain explorers, analytics dashboards, and news services. They help view charts, trading volumes, capitalization, fund movements between wallets, news, and the overall market dynamic.
How to Earn on Cryptocurrency and What Risks to Consider
It is possible to earn on cryptocurrency, but every method comes with risk. Trading offers a chance to profit from short-term price movements, but it requires experience and can quickly lead to losses if mistakes are made. Long-term investments are simpler in approach but depend on market cycles and high volatility. Staking allows you to earn rewards for participating in network operations but carries risks of lockups, technical failures, and asset price drops. Mining requires equipment, electricity, and constant calculation of profitability.
The main risks of the crypto market are sharp price fluctuations, hacks, fraud, smart contract errors, and regulatory decisions. To protect themselves, users employ cold wallets, two-factor authentication, verify transfer addresses, avoid suspicious links, and check important news across several reliable sources.
How Major Cryptocurrencies Performed on the Morning of June 22
Bitcoin started the day without sharp moves and traded in a sideways range. Such a market often occurs when there is no strong news driver, investors are waiting for new signals, or are taking profits after previous moves. As of 07:30 Moscow time, the price of the leading cryptocurrency was around $63,889, which was about ₽4,677,602 per token. Over the past 24 hours, Bitcoin’s low was $63,221, and the high reached $64,712.
Ethereum, the second largest cryptocurrency by market size, also moved calmly. At the time of the overview, the coin was priced at about $1,731, or roughly ₽126,659 per token.
The market capitalization of the largest digital assets remained under moderate volatility pressure. Market capitalization refers to the total value of coins in circulation: the asset price multiplied by the number of coins issued. This metric helps compare the scale of projects and understand how much influence a particular cryptocurrency has on the market.
The main market benchmarks remain Bitcoin and Ethereum: they have the largest scale, high liquidity, and strong influence on investor sentiment. Large networks like Solana are also important because they have many applications and active users. Short-term movements are more often shaped by news, supply and demand, liquidity, regulatory expectations, network updates, and overall investor risk appetite.
- Tron: up 0.51% in 24 hours.
- Solana: up 3.49% in a week.
- Hyperliquid: down 5.97% in 24 hours.
- Dogecoin: down 6.64% in a week.
- Skyai: up 9.15% in 24 hours.
- Aerodrome Finance: up 34.93% in a week.
- Humanity: down 10.51% in 24 hours.
- Audier: down 68.18% in a week.
Polymarket Suspected of Promotion Through Fake Wins
A Wall Street Journal investigation showed that the Polymarket prediction market platform may have paid dozens of bloggers for videos with allegedly successful bets. Copies of the site were used for filming, showing fake trades and large wins.
Journalists reviewed 1,105 videos and found no real transactions among the bets shown. The total amount of such demonstration bets was estimated at about $1.9 million. In one video, a student showed a “win” of $100,000, although in the real bet on this event, more than 50 users lost money.
According to the investigation, content creators were paid $2,000–3,000 per month and were asked not to disclose cooperation with the platform. The campaign targeted a US audience, although since 2022 Polymarket is not allowed to serve US users. This is already the second marketing scandal around the company this month: earlier it was reported that the head of promotion paid for unmarked ads via personal PayPal. After publication, Polymarket promised to review its ad content.
Secret Network Bridge Lost $4.67 Million Due to Infinite Token Issuance
The Secret Network bridge suffered a $4.67 million attack. The attacker exploited a vulnerability that allowed tokens to be issued infinitely without real backing.
The problem was related to a smart contract: it did not check the source of incoming transfers. Thanks to this, the attacker was able to create unsecured wrapped versions of stablecoins and other digital assets, including tokens pegged to the US dollar, ether, and bitcoin.
The attack occurred on June 10, but it was only noticed a week later. The reason was a failed transaction due to insufficient funds in an already emptied account. This was not a bank transaction but a failure in a blockchain transfer, which helped reveal the problem.
The stolen funds were converted to ether, distributed across about 30 wallets, and then withdrawn to crypto exchanges. After such incidents, market participants pay special attention to fund flows on major platforms, including Binance. The Secret Network hack became one of the largest episodes among June attacks, the total number of which exceeded 22. Such attacks reduce trust in bridges and smaller networks: some investors exit risky assets, and the prices of vulnerable projects can come under pressure.
Japanese Pension Fund to Add Cryptocurrency to Strategy for the First Time
A major corporate pension fund from Japan, serving about 1,200 small and medium-sized companies, intends to allocate about one percent of its assets to cryptocurrency investments in the 2026 fiscal year.
According to Nikkei, the National Corporate Pension Fund from Okayama manages assets of about 21.3 billion yen, or around $130 million. The fund plans to invest in a passive instrument managed by a large hedge fund that holds several crypto assets.
The decision is explained by a desire for diversification. Currently, about 80% of the fund’s assets are in yen, and another 15% in dollars. Against this background, cryptocurrency becomes an additional asset for the fund, although its share is still much lower than traditional instruments such as bonds, currencies, and stocks.
Among other important topics for the market is the situation around Iran and the Strait of Hormuz. Escalating geopolitics increases investor nervousness and can affect demand for risky assets, including cryptocurrencies. The exchange rate is also influenced by supply and demand, news, regulatory decisions, technological updates, capital inflows or outflows, macroeconomic indicators, and investor sentiment. The price is formed on exchanges: when buyers are more active than sellers, quotes rise; when sales prevail, they fall.
