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Gate Research: Metaplanet Raises JPY 30 Billion to Increase Bitcoin Holdings｜Bank of Korea Halts CBDC and Shifts Focus to KRW Stablecoin

Gate Research: Metaplanet Raises JPY 30 Billion to Increase Bitcoin Holdings｜Bank of Korea Halts CBDC and Shifts Focus to KRW Stablecoin

Advanced
ResearchDaily ReportAltcoinsTradingMacro Trends
6/30/2025, 7:23:24 AM
Gate Research Daily Report: On June 30, BTC surged quickly from around 107,200 USDT, reaching a peak of approximately 108,600 USDT and is now consolidating at relatively high levels. ETH broke through the key 2,500 USDT level in one move, briefly touching a high of 2,511.39 USDT. In terms of trending tokens, Arbitrum (ARB) rose by 16.39%, driven by DeFi activity within its ecosystem and recent new incentive measures; Aave (AAVE) gained 7.3%, supported by strong user stickiness, market contributions, and record loan volume and revenue; the emerging meme coin SPX increased by 6.62% amid improving economic data and recovering market sentiment. Additionally, Babylon Genesis Chain will adopt a dual virtual machine architecture combining EVM and CosmWasm to enhance BTCFi compatibility; the CBDC project led by the Bank of Korea has been paused, shifting focus toward KRW stablecoins; Metaplanet issued 30 billion JPY in zero-coupon corporate bonds to purchase additional Bitcoin.

Crypto Market Overview

  • BTC (1.31% | Current price: 108,598 USDT): BTC price surged rapidly from around 107,200 USDT, peaking at approximately 108,600 USDT, and is now consolidating at a relatively high level. Current resistance is in the 108,800–109,000 USDT range; if this is decisively broken, BTC may further test 109,500 USDT or higher. Short-term support sits around 107,600 USDT; falling below this could trigger a correction risk. On June 27, BTC ETFs saw a single-day net inflow of USD 501 million, including USD 153 million into BlackRock’s IBIT and USD 165 million into Fidelity’s FBTC, highlighting continued institutional accumulation and increased allocation weight to Bitcoin.
  • ETH (3.17% | Current price: 2,506 USDT): After a prolonged period of narrow-range consolidation, ETH decisively broke above the key 2,500 USDT level, briefly hitting a high of 2,511.39 USDT. It is crucial to watch whether ETH can consolidate above 2,500 USDT to confirm the breakout. If volume increases and ETH breaches the 2,520–2,540 USDT range, it could target 2,560–2,580 USDT next. Conversely, if ETH falls below 2,500 USDT, short-term correction pressure may follow. On June 27, ETH ETFs recorded a single-day net inflow of USD 77.5 million, with USD 48.1 million into BlackRock’s ETHA and USD 28.9 million into Fidelity’s FETH, offering solid short-term price support from institutional inflows.
  • Altcoins: Altcoins showed overall strength, with most posting gains. SUI and SOL rose by 2.02% and 1.36% respectively, both maintaining positive funding rates, indicating strong bullish sentiment. While funding rates diverged slightly across tokens, overall market momentum remains positive, supported by rising price and volume. Today’s Fear & Greed Index stands at 66, still in the “greed” zone, suggesting optimism but warranting caution against overheating sentiment.
  • Macro: On June 27, the S&P 500 rose by 0.52% to close at 6,173.07 points; the Dow Jones gained 1.00% to 43,819.27 points; and the Nasdaq climbed 0.52% to 20,273.46 points. As of June 30, 3:00 AM (UTC), spot gold trades at USD 3,280 per ounce, down 0.18% over the past 24 hours.
  • Trending Tokens

ARB Arbitrum (+16.39%, circulating market cap USD 1.775 billion)

According to Gate data, ARB is trading at USD 0.3579, up 16.39% over 24 hours. Arbitrum is an L2 scaling solution for Ethereum, aiming to enhance Ethereum’s performance by lowering transaction costs and increasing throughput. It uses Optimistic Rollup technology to execute transactions off-chain before posting data to Ethereum for verification and settlement.

ARB’s recent surge is largely driven by inflows of users and capital following new DeFi activity and incentive measures within the Arbitrum ecosystem. With low fees and high TPS, Arbitrum continues to attract developers and liquidity. Protocols like GMX and Radiant have seen growing TVL, and campaigns like “gTrade Week” have boosted trading volumes, lifting ARB demand. Meanwhile, projects like Yapyo, which converts social interactions into token rewards, have also fueled market enthusiasm.

AAVE Aave(+7.3%, circulating market cap USD 4.187 billion)*

According to Gate market data, AAVE is now priced at USD 276.05, rising about 7.3% over 24 hours. Built on Ethereum, Aave is a decentralized lending protocol allowing users to borrow and lend crypto and real-world assets (RWA) via smart contracts.

AAVE’s price has steadily climbed from around 250 USDT, peaking near 280 USDT. Notably, volume spiked near 260 USDT and 270 USDT, suggesting active buying that strengthened the uptrend. On-chain data shows Aave reached a record-high monthly active loan volume of USD 16.37 billion in June, capturing 62.6% of the decentralized lending market—well ahead of Morpho and Spark—reflecting strong user loyalty and recognition. In addition, cumulative fees and revenue also hit all-time highs on June 21, reaching USD 1.37 billion and USD 223 million respectively, further underpinning the price rally.

SPX SPX6900(+6.62%, circulating market cap USD 1.245 billion)*

According to Gate market data, SPX is currently priced at USD 1.3337, up roughly 6.62% over 24 hours. SPX6900 is a new MEME token inspired by the S&P 500 index, featuring a community-driven model and the concept of an innovative SPX6900 index holding 6,900 assets.

SPX6900’s rise is fueled by improving economic data, recovering market sentiment, and positive earnings news, boosting investor confidence. Technically, the chart shows higher lows after consolidation, indicating stronger buying interest at higher prices. The token has repeatedly breached the key resistance near 1.3000, hitting a high of 1.3398, which attracted momentum buyers. If volume grows, this would further confirm the bullish trend. On the macro side, U.S. Stocks have rallied strongly from April lows, with the S&P 500 setting new records on June 27. As risks from tariffs and other headwinds recede and economic data improves, overall market risk appetite is rising, becoming a key driver of SPX’s price increase.

Alpha Insights

Babylon Genesis Chain to Adopt Dual VM (EVM + CosmWasm) for BTCFi Compatibility

Babylon Genesis Chain will integrate a dual virtual machine architecture (EVM and CosmWasm) to improve compatibility and flexibility for BTCFi (Bitcoin Finance). CosmWasm is already live on the mainnet, supporting Rust-based high-performance smart contracts natively integrated with Bitcoin libraries. The EVM component is planned to go live on the mainnet between late Q3 and early Q4 2025; the devnet has started and the testnet will follow.

According to officials, combining EVM’s rich DeFi ecosystem and large developer base will expand Babylon’s application scenarios within the Bitcoin ecosystem. This dual VM approach preserves Bitcoin’s underlying security integration while leveraging EVM’s network effect for faster application adoption. By being compatible with Bitcoin and connecting to Ethereum, Babylon aims to attract both BTCFi and DeFi developers and users, potentially gaining a first-mover advantage in the BTCFi sector.

Bank of Korea Suspends CBDC Project to Focus on KRW Stablecoin

The Bank of Korea planned to launch a second phase of CBDC (central bank digital currency) testing in Q4 this year, but has decided to pause the project after banks participating in the first “Han River Project” raised multiple issues. Meanwhile, discussions in the National Assembly and among private players have increasingly favored KRW stablecoins.

Major banks like KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, IBK, iM Bank, Suhyup, and K-Bank are now leading efforts on an open blockchain and DIDIA project for KRW stablecoin issuance. Busan Bank, Gyeongnam Bank, and Toss Bank are also considering joining.

Pausing the CBDC test reflects a policy shift from “state-led” to “private innovation-driven” strategies, and highlights Korea’s growing focus on regulated stablecoins. With the new Virtual Asset Basic Act lowering entry barriers, stablecoins may be more rapidly adopted in financial payments and cross-border scenarios. Unlike a single CBDC model, KRW stablecoins jointly issued by multiple banks and tech players are more scalable and user-friendly. This strengthens the KRW’s competitiveness in the digital economy and positions Korea as a frontrunner in the global stablecoin race.

Metaplanet Issues JPY 30 Billion Zero-Coupon Bonds to Buy More Bitcoin

Japan-listed Metaplanet announced the issuance of zero-coupon bonds totaling JPY 30 billion (around USD 208 million) to finance additional Bitcoin purchases. The company acquired 1,005 BTC worth about USD 108 million at an average price of roughly USD 107,601 per BTC, increasing its total holdings to 13,350 BTC (about USD 1.4 billion at current prices). This move pushes Metaplanet ahead of Galaxy Digital (12,830 BTC) and CleanSpark (12,502 BTC), making it the world’s fifth-largest public company holder of Bitcoin.

By issuing zero-coupon bonds, Metaplanet is deepening its “Bitcoin standard” strategy, reflecting how some firms are leveraging low-rate financing and strong investor appetite for digital assets to accumulate more crypto. As total holdings surpass 13,000 BTC, Metaplanet’s position in global rankings rises, with Bitcoin now forming a core part of its balance sheet strategy. From a market perspective, this strengthens Metaplanet’s appeal to investors and accelerates the trend of traditional institutions treating Bitcoin as a strategic long-term asset.

Gate Launchpool

  • Project: Blum
  • Token: BLUM
  • Subscription deadline: Until July 11, 2025, 12:00 UTC
  • How to participate: Stake BLUM to claim free airdrop
  • Total airdrop: 900,000 BLUM

Project Introduction

Blum is a decentralized exchange (DEX) aiming to simplify crypto trading and mining with an innovative user experience. It supports multiple tokens while eliminating the complexity of switching chains or managing local token gas fees. Blum combines the features of centralized and decentralized exchanges, offering smart order routing, automated trading strategies, and social trading. Its native BLUM token grants governance rights, trading fee discounts, yield farming opportunities, and access to exclusive NFTs.


References



Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Author: Ember
Reviewer(s): Shirley, Mark
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
* This article may not be reproduced, transmitted or copied without referencing Gate. Contravention is an infringement of Copyright Act and may be subject to legal action.

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Crypto Market Overview

Alpha Insights

Gate Launchpool

Gate Research: Metaplanet Raises JPY 30 Billion to Increase Bitcoin Holdings｜Bank of Korea Halts CBDC and Shifts Focus to KRW Stablecoin

Advanced6/30/2025, 7:23:24 AM
Gate Research Daily Report: On June 30, BTC surged quickly from around 107,200 USDT, reaching a peak of approximately 108,600 USDT and is now consolidating at relatively high levels. ETH broke through the key 2,500 USDT level in one move, briefly touching a high of 2,511.39 USDT. In terms of trending tokens, Arbitrum (ARB) rose by 16.39%, driven by DeFi activity within its ecosystem and recent new incentive measures; Aave (AAVE) gained 7.3%, supported by strong user stickiness, market contributions, and record loan volume and revenue; the emerging meme coin SPX increased by 6.62% amid improving economic data and recovering market sentiment. Additionally, Babylon Genesis Chain will adopt a dual virtual machine architecture combining EVM and CosmWasm to enhance BTCFi compatibility; the CBDC project led by the Bank of Korea has been paused, shifting focus toward KRW stablecoins; Metaplanet issued 30 billion JPY in zero-coupon corporate bonds to purchase additional Bitcoin.
ResearchDaily ReportAltcoinsTradingMacro Trends

Crypto Market Overview

Alpha Insights

Gate Launchpool

Crypto Market Overview

  • BTC (1.31% | Current price: 108,598 USDT): BTC price surged rapidly from around 107,200 USDT, peaking at approximately 108,600 USDT, and is now consolidating at a relatively high level. Current resistance is in the 108,800–109,000 USDT range; if this is decisively broken, BTC may further test 109,500 USDT or higher. Short-term support sits around 107,600 USDT; falling below this could trigger a correction risk. On June 27, BTC ETFs saw a single-day net inflow of USD 501 million, including USD 153 million into BlackRock’s IBIT and USD 165 million into Fidelity’s FBTC, highlighting continued institutional accumulation and increased allocation weight to Bitcoin.
  • ETH (3.17% | Current price: 2,506 USDT): After a prolonged period of narrow-range consolidation, ETH decisively broke above the key 2,500 USDT level, briefly hitting a high of 2,511.39 USDT. It is crucial to watch whether ETH can consolidate above 2,500 USDT to confirm the breakout. If volume increases and ETH breaches the 2,520–2,540 USDT range, it could target 2,560–2,580 USDT next. Conversely, if ETH falls below 2,500 USDT, short-term correction pressure may follow. On June 27, ETH ETFs recorded a single-day net inflow of USD 77.5 million, with USD 48.1 million into BlackRock’s ETHA and USD 28.9 million into Fidelity’s FETH, offering solid short-term price support from institutional inflows.
  • Altcoins: Altcoins showed overall strength, with most posting gains. SUI and SOL rose by 2.02% and 1.36% respectively, both maintaining positive funding rates, indicating strong bullish sentiment. While funding rates diverged slightly across tokens, overall market momentum remains positive, supported by rising price and volume. Today’s Fear & Greed Index stands at 66, still in the “greed” zone, suggesting optimism but warranting caution against overheating sentiment.
  • Macro: On June 27, the S&P 500 rose by 0.52% to close at 6,173.07 points; the Dow Jones gained 1.00% to 43,819.27 points; and the Nasdaq climbed 0.52% to 20,273.46 points. As of June 30, 3:00 AM (UTC), spot gold trades at USD 3,280 per ounce, down 0.18% over the past 24 hours.
  • Trending Tokens

ARB Arbitrum (+16.39%, circulating market cap USD 1.775 billion)

According to Gate data, ARB is trading at USD 0.3579, up 16.39% over 24 hours. Arbitrum is an L2 scaling solution for Ethereum, aiming to enhance Ethereum’s performance by lowering transaction costs and increasing throughput. It uses Optimistic Rollup technology to execute transactions off-chain before posting data to Ethereum for verification and settlement.

ARB’s recent surge is largely driven by inflows of users and capital following new DeFi activity and incentive measures within the Arbitrum ecosystem. With low fees and high TPS, Arbitrum continues to attract developers and liquidity. Protocols like GMX and Radiant have seen growing TVL, and campaigns like “gTrade Week” have boosted trading volumes, lifting ARB demand. Meanwhile, projects like Yapyo, which converts social interactions into token rewards, have also fueled market enthusiasm.

AAVE Aave(+7.3%, circulating market cap USD 4.187 billion)*

According to Gate market data, AAVE is now priced at USD 276.05, rising about 7.3% over 24 hours. Built on Ethereum, Aave is a decentralized lending protocol allowing users to borrow and lend crypto and real-world assets (RWA) via smart contracts.

AAVE’s price has steadily climbed from around 250 USDT, peaking near 280 USDT. Notably, volume spiked near 260 USDT and 270 USDT, suggesting active buying that strengthened the uptrend. On-chain data shows Aave reached a record-high monthly active loan volume of USD 16.37 billion in June, capturing 62.6% of the decentralized lending market—well ahead of Morpho and Spark—reflecting strong user loyalty and recognition. In addition, cumulative fees and revenue also hit all-time highs on June 21, reaching USD 1.37 billion and USD 223 million respectively, further underpinning the price rally.

SPX SPX6900(+6.62%, circulating market cap USD 1.245 billion)*

According to Gate market data, SPX is currently priced at USD 1.3337, up roughly 6.62% over 24 hours. SPX6900 is a new MEME token inspired by the S&P 500 index, featuring a community-driven model and the concept of an innovative SPX6900 index holding 6,900 assets.

SPX6900’s rise is fueled by improving economic data, recovering market sentiment, and positive earnings news, boosting investor confidence. Technically, the chart shows higher lows after consolidation, indicating stronger buying interest at higher prices. The token has repeatedly breached the key resistance near 1.3000, hitting a high of 1.3398, which attracted momentum buyers. If volume grows, this would further confirm the bullish trend. On the macro side, U.S. Stocks have rallied strongly from April lows, with the S&P 500 setting new records on June 27. As risks from tariffs and other headwinds recede and economic data improves, overall market risk appetite is rising, becoming a key driver of SPX’s price increase.

Alpha Insights

Babylon Genesis Chain to Adopt Dual VM (EVM + CosmWasm) for BTCFi Compatibility

Babylon Genesis Chain will integrate a dual virtual machine architecture (EVM and CosmWasm) to improve compatibility and flexibility for BTCFi (Bitcoin Finance). CosmWasm is already live on the mainnet, supporting Rust-based high-performance smart contracts natively integrated with Bitcoin libraries. The EVM component is planned to go live on the mainnet between late Q3 and early Q4 2025; the devnet has started and the testnet will follow.

According to officials, combining EVM’s rich DeFi ecosystem and large developer base will expand Babylon’s application scenarios within the Bitcoin ecosystem. This dual VM approach preserves Bitcoin’s underlying security integration while leveraging EVM’s network effect for faster application adoption. By being compatible with Bitcoin and connecting to Ethereum, Babylon aims to attract both BTCFi and DeFi developers and users, potentially gaining a first-mover advantage in the BTCFi sector.

Bank of Korea Suspends CBDC Project to Focus on KRW Stablecoin

The Bank of Korea planned to launch a second phase of CBDC (central bank digital currency) testing in Q4 this year, but has decided to pause the project after banks participating in the first “Han River Project” raised multiple issues. Meanwhile, discussions in the National Assembly and among private players have increasingly favored KRW stablecoins.

Major banks like KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, IBK, iM Bank, Suhyup, and K-Bank are now leading efforts on an open blockchain and DIDIA project for KRW stablecoin issuance. Busan Bank, Gyeongnam Bank, and Toss Bank are also considering joining.

Pausing the CBDC test reflects a policy shift from “state-led” to “private innovation-driven” strategies, and highlights Korea’s growing focus on regulated stablecoins. With the new Virtual Asset Basic Act lowering entry barriers, stablecoins may be more rapidly adopted in financial payments and cross-border scenarios. Unlike a single CBDC model, KRW stablecoins jointly issued by multiple banks and tech players are more scalable and user-friendly. This strengthens the KRW’s competitiveness in the digital economy and positions Korea as a frontrunner in the global stablecoin race.

Metaplanet Issues JPY 30 Billion Zero-Coupon Bonds to Buy More Bitcoin

Japan-listed Metaplanet announced the issuance of zero-coupon bonds totaling JPY 30 billion (around USD 208 million) to finance additional Bitcoin purchases. The company acquired 1,005 BTC worth about USD 108 million at an average price of roughly USD 107,601 per BTC, increasing its total holdings to 13,350 BTC (about USD 1.4 billion at current prices). This move pushes Metaplanet ahead of Galaxy Digital (12,830 BTC) and CleanSpark (12,502 BTC), making it the world’s fifth-largest public company holder of Bitcoin.

By issuing zero-coupon bonds, Metaplanet is deepening its “Bitcoin standard” strategy, reflecting how some firms are leveraging low-rate financing and strong investor appetite for digital assets to accumulate more crypto. As total holdings surpass 13,000 BTC, Metaplanet’s position in global rankings rises, with Bitcoin now forming a core part of its balance sheet strategy. From a market perspective, this strengthens Metaplanet’s appeal to investors and accelerates the trend of traditional institutions treating Bitcoin as a strategic long-term asset.

Gate Launchpool

  • Project: Blum
  • Token: BLUM
  • Subscription deadline: Until July 11, 2025, 12:00 UTC
  • How to participate: Stake BLUM to claim free airdrop
  • Total airdrop: 900,000 BLUM

Project Introduction

Blum is a decentralized exchange (DEX) aiming to simplify crypto trading and mining with an innovative user experience. It supports multiple tokens while eliminating the complexity of switching chains or managing local token gas fees. Blum combines the features of centralized and decentralized exchanges, offering smart order routing, automated trading strategies, and social trading. Its native BLUM token grants governance rights, trading fee discounts, yield farming opportunities, and access to exclusive NFTs.


References



Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.

Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.

Author: Ember
Reviewer(s): Shirley, Mark
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
* This article may not be reproduced, transmitted or copied without referencing Gate. Contravention is an infringement of Copyright Act and may be subject to legal action.
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