Nasdaq Applies to Add Tokens like XRP to Cryptocurrency Index | Uniswap v4 Trading Volume Exceeds $40 Billion
On June 9, Bitcoin (BTC) hovered around $100,500, with a market share rising to 63.9%; Ethereum (ETH) fluctuated downward, maintaining a low ETH/BTC exchange rate, with a slight increase in market share to 9.27%; altcoins showed mixed performance, and market sentiment cooled; U.S. stocks surged while gold slightly declined; popular tokens like KAIA, VICE, and UMA performed strongly; Nasdaq plans to expand its crypto index, and Uniswap v4's trading volume surpassed $40 billion, with the first spot BTC ETF in Australia continuing to grow in holdings.
Cryptocurrency Market Overview
Mining Popular Tokens
KAIA Kaia (+12.25%, Market Cap $700 Million) According to Gate's market data, the current price of KAIA token is $0.0131, with a 24-hour increase of 12.25%. KAIA currently has a market cap of $700 million.
KAIA is an open-source blockchain project aimed at building Asia's leading Web3 ecosystem. KAIA uses a practical Byzantine Fault Tolerance (pBFT) consensus mechanism, supporting 4,000 transactions per second and 1-second block confirmations, featuring high throughput and low latency. Users can participate in governance, pay transaction fees, and access ecosystem applications using KAIA tokens, which also support USDT stablecoin trading, further enhancing usability. KAIA emphasizes openness and community-driven development, with no pre-mining and no ICO, committed to fair distribution, attracting attention from Web3 enthusiasts and investors in the Asian market.
KAIA's recent price surge is primarily driven by two factors: airdrop activity of 5 million tokens and listings on several mainstream exchanges. The airdrop effectively attracted a large number of new users through a reward mechanism, significantly increasing the token's circulation and market attention. Coupled with convenient trading on mainstream exchanges, this further stimulated demand. Currently, KAIA shows a strong upward momentum.
VICE VICE Token (+36.06%, Market Cap $1.044 Billion) According to Gate's market data, the current price of VICE token is $0.0162, with a 24-hour increase of 36.06%. VICE currently has a market cap of $36.59 million.
VICE is an open-source blockchain project built on the BNB Smart Chain (BEP20), utilizing a Proof of Stake (PoS) mechanism, focusing on user participation and reward mechanisms. The main feature of VICE is its simple competition mechanism that offers high-value prizes; users only need a small amount of VICE (its native token) to participate in the weekly competition pool, winning rewards such as luxury cars, luxury goods, or VIP experiences. Additionally, the VICE platform supports seamless value transactions, suitable for gaming, NFTs, and Web3 entertainment scenarios. Its development philosophy emphasizes user-friendliness, global accessibility, and community-driven initiatives, with no pre-mining and no ICO, appealing to users seeking high returns and Web3 innovation.
From market dynamics, the short-term spike in VICE's price may be driven by listings on mainstream exchanges, including Gate. However, the core of its sustained rise lies in its unique "low investment, high return" competition mechanism, where users only need a small amount of VICE tokens to participate in weekly competitions and win high-value prizes. This model is highly attractive in the Web3 community, especially among users seeking entertainment and investment returns.
UMA UMA (+10.12%, Market Cap $119 Million) According to Gate's market data, the current price of UMA token is $1.34, with a 24-hour increase of 10.12%. UMA currently has a market cap of $119 million.
UMA is an open-source blockchain project built on the Ethereum network, utilizing a Proof of Stake (PoS) mechanism, focusing on decentralized finance (DeFi). UMA's main feature is its "priceless financial contract" design model, allowing users to create custom synthetic assets and financial contracts, such as derivatives, prediction markets, or insurance products, using a small amount of UMA (its native token). Additionally, the UMA protocol supports an open-source Optimistic Oracle mechanism for rapid data verification and contract security, suitable for diverse financial innovation scenarios. Its development philosophy emphasizes openness, permissionless access, and decentralized governance, with no pre-mining and no ICO, making it popular among DeFi developers and financial innovators.
Recently, UMA has shown strong upward momentum, briefly breaking the $1.4 mark. This upward trend is not only due to its inherent appeal as a no pre-mining, no ICO project emphasizing openness and decentralized governance but also stems from its unique technical advantages and significant application potential in the DeFi space. From a technical perspective, UMA has been continuously increasing in volume, and if it can further break through $1.6, it is expected to challenge $2 in the short term.
Alpha Interpretation: Nasdaq Applies to Include XRP, SOL, ADA, and XLM in Digital Asset Benchmark Index Nasdaq recently submitted a 19b-4 rule change application to the U.S. Securities and Exchange Commission (SEC), proposing to include XRP, Solana (SOL), Stellar Lumens (XLM), and Cardano (ADA) in its digital asset benchmark index system. If approved, the Hashdex Nasdaq Crypto Index U.S. ETF (NCIQ) will switch from its current composition based on the Nasdaq Crypto U.S. Settlement Price Index (NCIUS) to the broader Nasdaq Crypto Index (NCI), which covers nine cryptocurrency assets. The SEC is expected to make a decision by November 2, 2025.
Currently, the NCIUS index is highly concentrated, including only Bitcoin (BTC) and Ethereum (ETH), with weights of 88.3% and 11.7%, respectively. This proposed change aims to enhance the ETF product's risk diversification and market representation by expanding the asset coverage and reducing reliance on a single asset. Additionally, this adjustment responds to the growing market demand for diversified digital asset allocation.
The application is seen as an important signal for the further recognition of crypto assets by mainstream financial institutions, significantly enhancing the diversity of ETFs. This diversification not only reduces the risk of volatility from a single asset but also provides institutional investors with a more comprehensive exposure to the crypto market. It is expected to promote the optimization of crypto ETF product structures and reflects the traditional capital market's gradually deepening acceptance of the crypto asset category. Regarding the included tokens, if the proposal is approved, it will significantly enhance their mainstream recognition, liquidity, and price potential, especially in the Asian market, where some investors may indirectly invest in these assets through U.S. ETF products.
Uniswap v4 Launches, Trading Volume Exceeds $40 Billion Uniswap's official announcement recently revealed that since its official launch on January 31, 2025, Uniswap v4 has achieved a trading volume exceeding $40 billion in just four months, demonstrating strong market appeal and user activity. According to data statistics, Uniswap v4's trading volume accounts for 8.7% of the total decentralized trading market volume (approximately $462 billion) as of 2025. Its overall ecosystem continues to maintain a leading position in the DEX market, holding a 23% market share, further solidifying its status as the largest DEX in the industry.
Uniswap v4 has significantly enhanced the flexibility and trading efficiency of decentralized exchanges (DEX) through its innovative "hook" mechanism and dynamic fees, combined with deep integration with Unichain Layer 2. Unichain, with its impressive 250-millisecond block time and cost reductions of up to 95%, has quickly surpassed Ethereum, becoming the dominant chain for Uniswap v4 trading volume, holding nearly 75% of the market share. Additionally, approximately $45 million in liquidity incentives successfully propelled Unichain's total locked value (TVL) from $9 million to $267 million, fully demonstrating users' high recognition of it. This series of developments not only showcases Uniswap's strong innovative capabilities in the DeFi space but also further solidifies its position as a leader in decentralized financial infrastructure.
Australia's MAM Spot Bitcoin ETF BTC Holdings Rise to 675 Units Australia's Monochrome Asset Management disclosed through the X platform and its official website that as of June 6, its spot Bitcoin ETF product—IBTC—has reached a Bitcoin holding of 675 units. IBTC was officially listed on the Cboe Australia Exchange on June 4, 2024, marking Australia's first ETF product that directly holds physical Bitcoin, signifying that local institutional investors can now gain spot exposure to Bitcoin through regulated channels. The fund has made significant progress within a year of its launch, and its rapidly growing holdings reflect the strong market demand for compliant Bitcoin investment tools.
Monochrome's IBTC, as Australia's first ETF to directly hold Bitcoin, relies on licensed custodians and adheres to the AFSL regulatory framework, providing investors with a transparent and secure path for crypto investments. Its trading and compliance mechanisms align with traditional finance, attracting institutional funds such as pensions and family offices. Compared to traditional crypto platforms, IBTC reduces self-custody risks, aligning with the global crypto ETF trend and showcasing the potential for regulatory and crypto finance integration in the Australian market. In the future, IBTC is expected to lead the Australian market with its compliance advantages, but it must address price volatility and regulatory uncertainties. Overall, IBTC serves as a benchmark for the integration of crypto and traditional finance, with performance worth looking forward to, but market and regulatory challenges should be approached with caution.
Related: Due to MiCA, the industry situation is unclear; Europe will implement regulations on decentralized finance (DeFi) in 2026.
Original article: “Nasdaq Applies to Add XRP and Other Tokens to Crypto Index | Uniswap v4 Trading Volume Exceeds $40 Billion”
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