Dgenz Crypto Weekly 036

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Table of Contents

• Market Pulse

• Weekly Charts

• Token of the Week

Wall Street Stocks Meet Solana Swaps

A new wave of tokenized stock trading is rolling into crypto, and Solana is at the center of it. Traders can now hold shares of major U.S. companies like Nvidia, Tesla, Meta, and McDonald’s directly in their Solana wallets thanks to xStocks, a product from tokenization firm Backed. Unlike previous mirrored assets that just tracked a stock’s price, xStocks are fully backed 1:1 by the real shares, held by a regulated custodian. That means if you own a tokenized Apple share on Solana, it’s matched by a real share in a vault and fully redeemable. This week, Kraken and Bybit launched xStocks trading for select regions, while Solana-based DEXs like Jupiter and Raydium now allow swaps between crypto and tokenized stocks entirely on-chain. That’s right, Solana users can now swap Fartcoin for Nvidia stock in seconds. And the tokenized equities race is just getting started. Coinbase is actively seeking regulatory approval to launch its own version of tokenized stock trading. Meanwhile, Robinhood has already announced a rollout of tokenized U.S. stocks coming to Europe, powered by Arbitrum. Tokenized stocks are quickly becoming crypto’s next frontier. For traders, this means direct, decentralized access to equities 24/7. For TradFi, it means the line between Wall Street and Web3 just got a whole lot thinner.

Grayscale Breaks ETF Barrier (Again)

The SEC has officially approved Grayscale’s plan to convert its Digital Large Cap Fund (GDLC) into a spot ETF, giving U.S. investors exposure to a diversified basket of top crypto assets, all in one tradable product. The new ETF will be primarily focused on Bitcoin and Ethereum, which together make up over 90% of the fund, but it also includes smaller allocations to Solana (2.8%), XRP (4.8%), and Cardano (0.8%). The move marks a quiet but meaningful shift in the SEC’s stance. While the regulator remains cautious on altcoin focused ETFs, it’s showing openness to blended portfolios, so long as Bitcoin and Ethereum dominate the allocation. According to Bloomberg analyst, James Seyffart, the approval was expected given the fund’s large-cap weighting and its alignment with the CoinDesk 5 Index. Grayscale’s win follows its 2023 lawsuit against the SEC, where an appellate court found the agency’s prior ETF rejections lacked consistent logic. That ruling helped open the floodgates for spot Bitcoin ETFs and now, with GDLC cleared, it could pave the way for broader crypto index products down the line.

Solana Steps Into The Big League

Rex Shares and Osprey Funds have launched the first ever U.S. ETF offering exposure to a crypto asset with on-chain staking rewards. The new “Rex-Osprey Solana + Staking ETF” gives investors access to SOL while staking at least half of its holdings to generate yield. The ETF is structured via a Cayman Islands subsidiary and taxed as a C-corp, diverging from the traditional spot ETF format used by Bitcoin and Ethereum. While technically not a spot ETF in the SEC’s strictest sense, it tracks Solana’s spot price and sets a precedent for yield generating crypto ETFs. The SEC recently responded with “no further comment,” clearing the path for Rex and Osprey to list the fund, just two months after its initial proposal in May. And the timing is key, at least nine spot Solana ETFs are now under SEC review, with amended filings specifically clarifying staking language. Bloomberg analysts are giving those filings a 95% approval chance, projecting launches within 2–4 months. The fund’s debut also arrives as the SEC reviews nearly 80 crypto ETF applications, a wave sparked by the massive $50B inflows into Bitcoin ETFs and $4.1B into Ethereum funds.

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USDT Dominance

Price action so far is playing out as expected, with the initial rejection at the 4.95% level on $USDT.D presenting a strong long setup. This mirrors the previous scenario where $USDT.D followed a similar structure and eventually formed a new higher high. The key question now is whether Bitcoin rejects again at this ~$108k level and leads to a breakdown below $98K. While that may seem unlikely to some, the first test of the 4.95% zone on $USDT.D has already played out and a second retest offers no guarantee of a strong reaction, it may just be a matter of time before this level flips into support.

Others Dominance

$OTHERS.D is currently sitting on support whilst also trading inside of this falling wedge. Although we are still in a clear downtrend we do already have four touches of this descending trendline so its only a matter of time until we see a breakout move to the upside and finally get the altcoin run we’ve all been waiting for, but for the next few days I am still expecting a fair bit of chop with where $USDT.D and $BTC are currently trading.

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Arbitrum - $ARB

Arbitrum is the leading Layer-2 scaling solution for Ethereum, built to offer faster transactions and lower fees without compromising security. It uses optimistic rollups to batch transactions and settle them on Ethereum, making it ideal for DeFi, gaming, and on-chain apps. With billions in TVL, deep liquidity, and a rapidly growing ecosystem, Arbitrum has cemented itself as a core part of Ethereum’s scaling roadmap.

What Does Arbitrum Do?
Arbitrum makes Ethereum cheaper and faster by moving transactions off-chain and posting them in batches to mainnet. It’s fully EVM compatible, so users can use familiar apps like Uniswap and Aave with far lower fees. Developers can deploy contracts without needing to learn new code, while users benefit from better speed and UX. It powers both Arbitrum One (for DeFi and general use) and Nova (for gaming/social).

How It Works?
It uses optimistic rollups, which assume transactions are valid unless challenged. If someone spots a bad transaction, they can submit a fraud proof on Ethereum. This setup lets Arbitrum process thousands of transactions quickly and cheaply. Assets move between Ethereum and Arbitrum via a bridge, and new tools like Orbit now let teams launch their own Arbitrum-based chains (L3s) using the same tech.

Tokenomics & Incentives
- Fixed supply of 10 billion $ARB, with up to 2% annual inflation.
- Initial distribution: 35% treasury, 27% team/advisors, 17.5% investors, 11.6% airdrop.
- Team/investor unlocks began March 2024 and continue over 4 years.
- $ARB is a governance token only — no staking yet, but DAO discussions are ongoing.
- Arbitrum DAO has funded over 95M $ARB in ecosystem grants and incentives.

Ecosystem Impact
- Over $21 billion in TVL, making it the top L2 by value locked.
- Deep liquidity on apps like Aave ($1.1B) and Uniswap ($358M).
- Processed over 1 billion transactions across Arbitrum One and Nova.
- Major DeFi, gaming and NFT projects run on Arbitrum or are expanding to it.
- Orbit chains and Stylus (Rust smart contracts) are growing dev interest.

Recent Developments
- Launched Orbit, letting anyone build custom L3s using Arbitrum tech.
- Rolled out BOLD, a permissionless fraud-proof system, for stronger decentralization.
- Stylus upgrade improved performance and lowered contract costs by 2–4×.
- Arbitrum DAO expanded its incentive strategy, with grant refinements underway.

What’s Coming Next?
- Next unlock of 92.6M $ARB (0.9% of supply) set for July 16, 2025.
- DAO may vote on staking or reward mechanisms for $ARB holders.
- Ongoing improvements to fee models and cross-chain interoperability.
- Long-term goal: 100× throughput and fully permissionless network participation.
- Robinhood soon to launch tokenized U.S. stocks powered by Arbitrum.

TL;DR
Arbitrum is Ethereum’s leading Layer-2, offering cheaper, faster transactions with full EVM support. $ARB governs the network, controls a massive treasury, and powers a growing on-chain economy. With deep liquidity, strong tech, and a maturing DAO, Arbitrum is positioned to remain the backbone of Ethereum scaling.

Market Cap - $1,709,640,384
24HR Volume - $410,072,248
Current Price - $0.3449
All-Time High - $2.39 (-85%)
All-Time Low - $0.2457 (+40%)

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