The morning crypto market overview gathered the key events: Ripple launched the RLUSD stablecoin on the Japanese market, Kalshi is discussing investments at a $40 billion valuation, and Magic Internet Money from Abracadabra dropped nearly half from its parity with the US dollar. Against this backdrop, Bitcoin and Ethereum started the day without a clear direction.
Crypto Market on the Morning of June 25: Bitcoin and Ethereum Move Sideways
According to TradingView, Bitcoin started the day calmly and traded in a sideways range. At 07:32 MSK, the coin’s price was $60,799, equivalent to about ₽4,553,528 per token. Over the past 24 hours, the low was $59,029 and the high was $63,097.
Bitcoin remains the main benchmark for the market: when the largest cryptocurrency does not show strong movement, participants usually pay closer attention to liquidity, stablecoin news, and sentiment on derivatives platforms. Demand is reflected especially quickly on major exchanges.
- Binance
- other major crypto exchanges
Ethereum, the second-largest cryptocurrency by market capitalization, also started the morning without a noticeable impulse. At the time of the overview, the coin was trading around $1,616, or about ₽121,106 per token.
Who Rose and Who Fell Among the Largest Coins
Key movements among the largest assets were as follows:
- Hyperliquid: +3.44% over 24 hours.
- Tron: +2.17% over seven days.
- Dogecoin: -3.55% over 24 hours and -10.27% over seven days.
- Aave: +14.93% over 24 hours.
- DeXe: +67.89% over seven days.
- MemeCore: -73.80% over 24 hours and -74.38% over seven days.
For investors, such movements are important not only from a speculation standpoint: any digital asset in accounting and risk management requires a clear assessment, especially when it comes to large portfolios.
Ripple Launched RLUSD in Japan After Regulator Approval
Ripple launched the dollar stablecoin RLUSD on the Japanese market after receiving regulatory approval. The token became available to institutional and retail clients through SBI VC Trade—the crypto division of Japanese financial conglomerate SBI Holdings.
The Japanese Financial Services Agency classified RLUSD as a new type of electronic payment instrument. The stablecoin is pegged to the US dollar and backed 1:1 by dollar reserves and short-term US government bonds.
RLUSD’s market capitalization is $1.6 billion. For users and companies, this format is important because settlements with the stablecoin may be closer in logic to a digital payment than a classic bank transaction, while still maintaining requirements for reserve transparency.
Kalshi Discusses New Round at $40 Billion Valuation
Prediction market platform Kalshi is in talks to raise new funding at a $40 billion valuation. This is almost double the company’s May valuation, which was $22 billion.
According to the Financial Times, the round could close as early as the third quarter of 2026. If the deal goes through, Kalshi’s value will have increased eightfold in less than a year and will significantly exceed the valuation of its competitor Polymarket, which is estimated at $15 billion.
In May, Kalshi already raised $1 billion in a Series F round. Participants included:
- Coatue
- Andreessen Horowitz
- Sequoia
- Morgan Stanley
- Ark Invest
In terms of trading activity, Kalshi also outpaces Polymarket. In May, the platform’s monthly turnover reached $17.9 billion, while its competitor’s figure was $7.1 billion. Prediction markets are increasingly intersecting with finance, politics, technology—including artificial intelligence—and expectations for stocks and other risky instruments.
Abracadabra Tries to Save MIM After Falling Below Its Peg
DeFi platform Abracadabra moved to emergency measures after a sharp drop in the Magic Internet Money stablecoin. MIM deviated from the target level of $1 and at one point traded about 50% below parity.
The problems began in mid-June. First, the token dropped to $0.74, then briefly recovered to $0.89, but on Wednesday the price fell to $0.49.
The Abracadabra team is raising interest rates to encourage users to repay debts and reduce the amount of MIM in circulation. The logic is simple: the fewer tokens remain on the market, the higher the chances of reducing selling pressure and restoring the peg.
MIM is issued against collateral of yield-bearing tokens, and its price stability depends on deep liquidity pools on Curve Finance. Now liquidity has become thin and unbalanced, making sales put more pressure on the price.
The story with MIM shows that even an overcollateralized stablecoin is not protected from problems if liquidity weakens. Against the backdrop of such episodes, market participants more carefully assess collateral, reserve structure, and the risks of forced debt reduction.
Calm movement of the largest coins in the crypto market does not eliminate risk: news about stablecoins, liquidity, and regulation can quickly change participants’ sentiment.
How to Read Prices, Market Capitalization, and Types of Cryptocurrencies
The price of a cryptocurrency is formed by supply and demand on exchanges, liquidity depth, news, regulation, technological updates, and overall risk appetite. Rates are conveniently tracked on TradingView, CoinMarketCap, and major crypto exchanges.
Market capitalization shows the approximate value of a coin on the market: the asset’s price is multiplied by the number of coins in circulation. This indicator helps compare projects with each other, but by itself does not replace analysis of liquidity, reserves, and risks.
- Bitcoin—the largest cryptocurrency and the main benchmark for the market.
- Altcoins—all cryptocurrencies except Bitcoin; these include Ethereum, Dogecoin, Aave, and other assets.
- Stablecoins—tokens pegged to an asset, most often the US dollar; examples from the current agenda are RLUSD and MIM.
- Tokens—digital assets that can be used within individual protocols, applications, and ecosystems.
- NFTs—unique digital tokens that differ from each other and are not interchangeable like regular coins.
- ETFs—exchange-traded funds through which investors can gain exposure to crypto assets without directly holding coins.
Investments, Profit, and Security
It is possible to earn money on cryptocurrency, but profit is not guaranteed. The result is influenced by entry point, volatility, liquidity, news, fees, chosen strategy, and the investor’s willingness to withstand deep drawdowns. In the current environment, a cautious approach seems more reasonable: the largest coins are moving without strong momentum, and the MIM story is a reminder of how quickly even a stablecoin’s valuation can change.
Safe buying starts with checking the platform, fees, liquidity, and storage rules. You should not transfer funds via suspicious links, share your seed phrase, store all assets on one platform, or ignore two-factor authentication.
Several types of crypto wallets are used for storage:
- hardware wallets—suitable for long-term storage and isolating keys from the internet;
- software wallets—convenient for regular work with assets;
- mobile wallets—useful for quick transactions from a smartphone;
- paper wallets—require careful storage and protection from loss or damage.
When choosing a wallet, important factors include control over private keys, developer reputation, code openness, backup, support for required networks, and a clear recovery process.
Where to Follow News and Analytics
You should follow the market through several sources at once: charts and quotes on TradingView and CoinMarketCap, data from major crypto exchanges, company and regulator announcements, as well as business publications like the Financial Times. This set helps you notice changes in prices, liquidity, regulation, and market sentiment faster.
What This Means for the Market
The morning of June 25 passed without strong momentum for the largest coins, but news around stablecoins and prediction markets gave the market reasons for caution. RLUSD strengthens Ripple’s position in regulated payments, Kalshi continues to compete for leadership with Polymarket, and the fall of MIM is a reminder of DeFi infrastructure risks.
Another factor of uncertainty remains expectations for Bitcoin. Earlier, Arthur Hayes allowed for a decline in the price of the first cryptocurrency to $40,000, so investors continue to monitor liquidity, macro factors, and the behavior of the largest assets.
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