Solana ranked first across all chains for May app revenue at $90.62 million, while SOL still closed May with its eighth consecutive red monthly candle. The slide began in October with SOL around $220 and ended May near $82, as spot Solana ETFs posted $115.34 million in cumulative inflows without any outflow days during the month.

Prediction markets posted $28.4 billion in trading volume in May, setting a new monthly high. The figure exceeded January's prior record of $27.1 billion and extended a run of four straight months of rising activity. Kalshi led the month with $17.3 billion, ahead of Polymarket's $8.4 billion.

CME Group is moving its regulated crypto futures and options to continuous trading, going live at 4 P.M. Central Time on CME Globex and CME ClearPort. The rollout lines up with about $6.25 billion in Bitcoin options expiring on Deribit and comes as BTC has slipped below $73,000 this week. Trading becomes 24/7, while clearing and settlement remain on a Monday-to-Friday schedule.

BlackRock's iShares Bitcoin Trust (IBIT) recorded -$527.84 million in net outflows on Wednesday, marking its second-largest outflow day on record. Bitcoin spot ETFs have now logged eight straight days of cumulative net outflows, with the month-to-date total at -$2.07 billion at the time of writing. The pullback coincided with April PPI printing 6% year over year, which reduced June rate-cut odds and weighed on the rate-sensitive Bitcoin narrative.

On Tuesday night, President Donald Trump said in a Truth Social post that it is "critically important" for the CFTC to retain "exclusive authority" over prediction market platforms as state regulators intensify scrutiny. The agency is litigating against Wisconsin, Illinois, Arizona, Connecticut and New York, while Minnesota has moved to criminalize prediction markets and a multi-state attorneys general coalition has backed Massachusetts against Kalshi's sports contracts.

Zcash (ZEC) climbed more than 17% on Wednesday, briefly reaching $690, a level it had not traded at since November last year. The move followed news that the U.S. Securities and Exchange Commission closed its investigation into the Zcash Foundation without enforcement action, a probe that began with an August 2023 subpoena. The Foundation also reported $36.7 million in net liquid assets at the end of Q1, including 85,412 ZEC valued at about $21.2 million.

Kalshi recorded more than $4 billion in weekly notional volume over the past week, up from $54.5 million a year earlier. The same week, Kalshi posted $4.1 billion versus Polymarket's $2 billion, putting Kalshi at about 2.05x Polymarket's weekly volume. The gap widened after Polymarket's April 28 V2 upgrade, which paused trading for roughly an hour and removed open limit orders.

Kalshi recorded $1 billion in non-sports weekly trading volume for the first time, up from $35.2 million a year earlier. The same week, Polymarket posted $442.3 million in non-sports weekly volume, putting Kalshi at more than 2.2x larger on that measure. The shift follows a period in which Polymarket led non-sports activity earlier in the year while Kalshi was more associated with sports contracts.

As coordinated U.S. and Israeli strikes on Iran enter their fourth day, gold has surged toward $5,400 per ounce and Brent crude has jumped about 17% to $83, while Bitcoin has slid back toward $66,000 and remains roughly 47% below its $126,000 peak from last October. According to Elliptic, withdrawals on Iranian exchange Nobitex, which serves around 11 million users and handles about 87% of the country’s crypto volume, spiked over 700% within minutes of the first airstrikes, with nearly $3 million moved off the platform in one hour as users sought to move funds away from local banking channels.