According to @lookonchain, Polyhedra's ZKJ token experienced a severe price crash of over 80%, which the team attributes to a coordinated liquidity attack on its PancakeSwap ZKJ/KOGE pool. The source states that on-chain data showed several addresses draining millions from the liquidity pool, with one address alone removing approximately $4.3 million in LP tokens before dumping 1.57 million ZKJ. To counter the sell pressure, the Polyhedra team reportedly injected around $30 million in USDT, USDC, and BNB as DEX liquidity and has announced a buyback plan to restore trust. This incident contrasts with broader bullish market sentiment for stablecoins, as evidenced by the U.S. Senate's passage of the GENIUS Act and JPMorgan's pilot of a USD deposit token (JPMD) on the Base network. Additionally, the Ink Foundation is launching its INK token via an airdrop on an Aave-powered protocol.

According to @ThinkingUSD, the Polyhedra (ZKJ) token plummeted over 80% following what the team described as a coordinated liquidity attack on a PancakeSwap pool. The source states that on-chain data revealed several addresses draining millions from the ZKJ/KOGE pool, with one wallet dumping 1.57 million ZKJ. In response, the Polyhedra team reportedly injected approximately $30 million in liquidity (USDT, USDC, and BNB) and announced a buyback plan to restore stability. In related market volatility, a trader on the decentralized derivatives exchange HyperLiquid, identified as AguilaTrades, turned a $10 million unrealized profit into a $2.5 million loss on a leveraged Bitcoin (BTC) long position. The analysis points to a 4% drop in BTC's price as the cause, highlighting the significant risks of leveraged trading within Bitcoin's recent range between approximately $100,000 support and $110,000 resistance.

According to @KookCapitalLLC, the cryptocurrency market faces a significant long-term threat from quantum computing, which could render current encryption obsolete. Researchers warn that approximately 4 million Bitcoin (BTC), or 25% of the usable supply, are vulnerable to being stolen once quantum computers are powerful enough, a risk factor now included in BlackRock's Bitcoin ETF filing. The analysis suggests "Harvest Now, Decrypt Later" attacks are already underway, with some experts cited in a Reuters report warning that a cryptographically relevant quantum computer could arrive as soon as 2025, making migration to post-quantum cryptography urgent. In more immediate market events, the Polyhedra (ZKJ) token plummeted over 80% following what the team described as a coordinated liquidity attack on PancakeSwap. The Polyhedra team responded by injecting approximately $30 million in USDT, USDC, and BNB to stabilize liquidity and has announced a buyback plan to restore investor confidence. Other notable developments include JPMorgan piloting a permissioned USD deposit token (JPMD) on the Base network and the U.S. Senate passing a bipartisan stablecoin bill, signaling growing institutional and regulatory engagement with the crypto sector.

According to @KookCapitalLLC, Bitcoin (BTC) has strongly rebounded towards $110,000, trading around $109,500 for a 3.5% gain in 24 hours, buoyed by broader risk-asset optimism following a U.S.-Vietnam trade deal. Crypto sentiment received an additional boost from the successful debut of the REX-Osprey Solana + Staking ETF (SSK), which saw a strong first-day trading volume of $20 million, as highlighted by Bloomberg analyst Eric Balchunas. Looking ahead, Vetle Lunde from K33 Research anticipates a potentially volatile July for BTC, citing key dates including a controversial expansionary budget bill, a July 9 tariff deadline, and a July 22 deadline for a crypto executive order. However, Lunde notes that crypto leverage remains contained, suggesting that traders should consider maintaining spot exposure. In other news, Polyhedra (ZKJ) announced a buyback plan after its token price fell 80% due to an alleged coordinated liquidity attack, for which the team injected approximately $30 million in liquidity.

According to @CrypNuevo, the recently launched Nicholas Crypto Income ETF (BLOX) is gaining traction, having registered net inflows of approximately $4.52 million since its debut on June 17. The actively managed fund provides diversified exposure through a three-sleeve strategy: investing in crypto-related equities like Coinbase (COIN) and Marathon Digital (MARA), holding spot Bitcoin (BTC) and Ether (ETH) ETFs, and generating weekly income by writing options spreads on its holdings. David Nicholas, CEO of XFUNDs, stated the fund is open to including other altcoin ETFs, such as a potential Solana (SOL) ETF, upon regulatory approval. In other market-moving news, crypto protocol Polyhedra has announced a buyback plan for its ZKJ token after its price plummeted over 80%. The team attributes the crash to a coordinated liquidity attack and has since injected about $30 million in USDT, USDC, and BNB to provide DEX liquidity and restore confidence.

According to @KookCapitalLLC, the crypto protocol Polyhedra saw its native token, ZKJ, plummet by over 80% following what the team described as a coordinated liquidity attack. The team's initial post-mortem cited several factors, including a significant attack on the ZKJ/KOGE liquidity pool on PancakeSwap. On-chain data reportedly confirmed that several addresses drained millions from the pool and subsequently dumped large quantities of ZKJ tokens, triggering a liquidity spiral. In response, the Polyhedra team injected approximately $30 million in USDT, USDC, and BNB to bolster DEX liquidity and announced a forthcoming buyback plan to restore market confidence. The team also affirmed that none of their own ZKJ holdings were sold during the incident.

According to @KookCapitalLLC, the recent wave of crypto initial public offerings (IPOs), particularly the success of Circle Internet Group Inc. (USDC), is signaling a major shift in market dynamics. Analyst Aaron Brogan suggests Circle's remarkable post-IPO rally, which pushed its market cap to $43.9 billion, can be attributed to several factors: favorable public market comparisons to companies like MicroStrategy, anticipated regulatory clarity from the U.S. Senate's GENIUS Act for stablecoins, and a lucrative macro environment with rising Treasury yields. This success has reportedly prompted other firms like Gemini and Bullish to pursue public offerings. In sharp contrast to this positive development, Polyhedra's ZKJ token experienced a severe downturn, plummeting over 80% following what the team described as a coordinated liquidity attack. In response, the Polyhedra team injected approximately $30 million in liquidity and announced a buyback plan to restore stability. Adding to the market picture, a survey from CoinShares, highlighted by CEO Jean-Marie Mognetti, reveals strong investor conviction, with nearly 90% of crypto holders planning to increase their allocations and seeking advisors with deep regulatory and risk management expertise.