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On June 24, the ProShares 2x Long Silver ETF dropped over 2.5% in pre-market trading, falling more than 83% from its historical highs.

BlockBeats news, on June 24, QCP Capital released its daily observation, stating that after the signing of the US-Iran memorandum of understanding (MOU), the market's focus has shifted from the agreement itself to the risks in the execution phase. Although Brent crude oil prices have fallen below $80, navigation in the Strait of Hormuz has not fully recovered, with only about 14 ships transiting daily, far below normal levels. The progress of technical negotiations over the next 60 days and the implementation of the Lebanon-Israel ceasefire will be key indicators to watch. In terms of monetary policy, the Federal Reserve has kept interest rates unchanged in the 3.50%-3.75% range, but its 2026 dot plot median has been raised from 3.4% to 3.8%, indicating that the "Higher for Longer" stance has been further strengthened. At the same time, the Federal Reserve raised its 2026 inflation forecast from 2.7% to 3.6%, highlighting that inflation remains the core policy constraint at present. In the technology sector, SpaceX's stock price has fallen from its post-IPO high of $211 to $155, a 27% drop from the peak, but it is still above the issue price of $135. QCP believes that market narrative is shifting from IPO fever to AI financing logic, and SpaceX is gradually becoming an important part of the AI capital formation cycle. In the crypto market, Strategy continues to increase its Bitcoin holdings, now holding 847,363 BTC, accounting for about 4% of the total Bitcoin supply, with an average holding cost of $75,651. QCP points out that although Strategy's financing and accumulation mechanism is still operating, given the spot price is below its average cost and the preferred stock price has fallen below par, its space to continue leveraged Bitcoin accumulation in the future is narrowing.

BlockBeats news, on June 24, according to CryptoRank's latest report, total DeFi Total Value Locked (TVL) has declined for six consecutive months, dropping from about $115 billion in January 2026 to around $70 billion currently, marking a cumulative decrease of 39% for this year, reflecting continued adjustments after the crypto market peaked in 2025. Data shows that since 2026, there have been 121 security incidents in the DeFi sector, with total losses of approximately $942 million. Of these, 85 attacks occurred in the second quarter, resulting in losses of about $775 million, making it one of the most frequently attacked quarters on record. The April attacks on Drift Protocol ($295 million) and KelpDAO ($293 million) together account for more than half of the annual losses. Among the top ten public blockchains by TVL, only TRON and Hyperliquid achieved positive growth. TRON’s TVL increased by about 5% this year, mainly supported by USDT transfers, stablecoin settlements, and lending demand; Hyperliquid grew by around 6.7%, benefiting from its leading position in the on-chain perpetual contract market and the expansion of the HyperEVM ecosystem. However, the report points out that the current DeFi downtrend cycle is noticeably milder than the 2021 to 2022 cycle. Back then, DeFi TVL plummeted by over 70% within seven months, while currently more capital is flowing towards stablecoins, RWA, derivatives, and infrastructure sectors, making the market structure more dispersed and mature compared to the previous cycle.