Market Insights by AP Collective (June 16th, 2025)

This week in Web3: Pudgy Penguins announce new partnerships, Avalanche transaction volume surges, Stripe acquires Privy, Solana ETFs inch towards approval, and more. Here's what you missed.

AP Collective

Jun 16, 2025

Here is what we have in store for this week’s Market Summary:

Pudgy Penguins announce new partnerships
Bank of America is developing a stablecoin
US Senate makes progress regarding the GENIUS Act
Avalanche transactions up 275% compared to May
Stripe acquires Privy
Solana ETFs could see approval in the next 3-5 weeks

Pudgy Penguins scale global reach as NASCAR and Lufthansa join The Huddle

Pudgy Penguins announced two major brand partnerships this week. First, they teamed up with NASCAR to feature their mascot to engage motorsports fans and expand its cultural footprint beyond the NFT space. Shortly after, they revealed a collaboration with Lufthansa’s Miles & More program, allowing community members to earn airline miles by purchasing from the Pudgy Shop using either $PENGU or fiat currency.

These deals represent a strategic pivot toward real-world utility and broader audience engagement: NASCAR boosts visibility among sports fans, while the Lufthansa tie-in embeds $PENGU into everyday travel rewards.

Pudgy Penguins continue to set a standard for utility-driven NFT brands, seamlessly merging digital collectibles with real-world experiences through strategic, high-impact partnerships.

Bank of America signals intent with in-house stablecoin development

Bank of America CEO Brian Moynihan confirmed development of a dollar-pegged stablecoin, likely timed ahead of legislation like the GENIUS Act, which could soon provide a regulatory framework for stablecoin issuance by banks and nonbanks.

While Moynihan emphasized that Bank of America won’t launch the coin until clear federal rules are in place, he affirmed the bank is “working with the industry” to prepare its internal build, indicating strong readiness to move once regulations permit. This development aligns with a wave of traditional financial giants positioning themselves for mainstream stablecoin issuance, underscoring growing institutional confidence in tokenized dollars.

Full article here.

U.S. Senate moves forward on landmark stablecoin bill

The U.S. Senate has advanced the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) by a decisive 68–30 procedural vote, paving the way for a final floor approval as soon as June 17. The bill seeks to implement a comprehensive regulatory framework for stablecoins, mandating full dollar or liquid asset backing, regular audits, and reserve transparency, while empowering both federal and state regulators. The bill covers issuers ranging from banks to nonbanks.

This bipartisan measure also strengthens consumer protections and anti-money laundering standards, including prohibitions on foreign-based issuers entering U.S. markets. Despite broad support, the legislation remains controversial: critics, such as Senator Elizabeth Warren, warn it may allow executive branch exclusions or conflicts tied to presidential interests, and urge revisions before passage.

As the final vote approaches, Washington stands poised to set a precedent for stablecoin legitimacy and oversight.

Full article by CNBC here.

AVAX activity skyrockets: Daily transactions jump to 759K

Avalanche revs its engines with a dramatic 275% surge in daily transactions, jumping from around 200,000 in early May to an average of 759,000 daily transactions in June, according to Sentora’s on‑chain data. This resurgence points to a revival of interest in AVAX ecosystems.

This spike in transaction volume often precedes notable price momentum and increased developer engagement. While it’s still early to confirm a sustained rally, the uptick suggests Avalanche is regaining relevance, especially as institutional participants and DeFi initiatives scale across its interoperable chains.

Read the full article by Bitcoinist here.

Stripe expands crypto stack with Privy acquisition

Stripe has officially acquired crypto wallet provider Privy, strengthening its crypto infrastructure as it accelerates its push further into the industry. Privy’s platform powers over 75M wallets across 1,000+ developer teams, enabling seamless on-chain transactions via a simple API, and will continue operating independently within the Stripe ecosystem post-acquisition.

This move extends Stripe’s momentum from last year’s $1.1 B Bridge deal and its recent rollout of stablecoin financial accounts. By embedding Privy’s wallet tech, Stripe is advancing its vision of merging fiat and crypto rails to make value movement seamless while offering businesses an integrated, future-ready payments stack.

Read the full announcement by Privy here.

Solana rallies on renewed optimism around spot ETF approval

The SEC has requested issuers of Solana spot ETF filings to revise their S‑1 documents, especially around staking and in-kind redemption processes. These amendments suggest the agency is earnestly reviewing the applications, with approval potentially arriving within 3–5 weeks, possibly by late July. The SEC’s openness to staking Solana tokens within ETFs marks a significant shift in regulatory stance.

Bloomberg Intelligence analyst James Seyffart recently raised the odds of Solana ETF approval to approximately  90%, calling it a frontrunner amid the current surge of altcoin ETF filings alongside Litecoin and XRP.

This momentum has already begun influencing market behavior. Solana’s price peaked around $165 USD following the news but has since moderated, trading closer to $151 USD (June 15, 2025), with a modest decline of about 2.5% over 24 hours, with growing future interest and on-chain activity tied to ETF optimism.

Read the more detailed Crypto Briefing article here.

Disclaimer:

The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only. The views and opinions expressed in this publication do not reflect those of AP Collective.