U.S.S.S.S.S.S.E.F.E.D.E.F. showed a clear division in June. Bitcoin, Ethera and Solana-related products are widely exported, while XRP and Hyperliquid HYPE are a few still in net inflows.

XRP and HYPE maintained net inflows

SoSoValue data show that the XRP-related ETF net inflows of $59.4 million in June were recorded for the third consecutive month, albeit at a slower rate than in the previous two months. HYPE-related funds had a net inflow of $161 million during the month, which was more pronounced.

In contrast, United States spot bitcoin ETF net outflows in June exceeded $4 billion, a record; ETF net outflows of $528.9 million; and Solana ETF net outflows of $786 million.

Bitcoin ETF's a drag.

The flow of funds shows that the market remains cautious about the risk of mainstream encrypted assets. The large outflow of bitcoin ETF meant that institutional demand was significantly weakened in June and that overall market performance was suppressed.

The article mentions that if bitcoin and the wider encryption market stabilizes, the inflows of XRP and hype may support spot prices. However, this determination remains dependent on the continued return of follow-up funds.

Hyperliquid has the highest income

While HYPE receives financial attention, the chain of income itself is more prominent. DefiLlama data indicate that the income from Hyperliquid fees was slightly higher than $8.0 million over the past 30 days.

Hyperliquid ranks third after Tether with $486.9 million and Circle Internet with $184.7 million. This means that the financial performance of HYPE is not entirely dependent on short-term emotions, but is also related to the level of agreement activity.

Seasonal performance concerns July

According to Alex Kuptsikeevich, FxPro's chief market analyst, in the past 15 years, Bitcoin experienced 10 increases and 5 falls in July, with an average increase of 19 per cent and an average decline of 7.8 per cent.

However, seasonal performance does not alone drive progress. In the absence of a reflow of cash ETF funds, Bitcoin may still be under pressure in the short term and market rehabilitation may be limited.