Crypto News Shocker: Iran Tensions, $23M BLAST Unlock, Injective Buzz

Key Points

• Iran hints at closing the Strait of Hormuz, Bitcoin may drop 20%
• Injective Summit could spark major DeFi and INJ token updates
• Infinex and Synthetix prep for game-changing protocol launches
• $23.49M worth of BLAST tokens unlock on June 26, may trigger sell-offs

The top crypto news this week kicks off with a geopolitical spark. Tensions between Iran and the United States are escalating again, and this time, the crypto market may feel the impact. After a U.S. airstrike hit Iranian nuclear sites, Iran retaliated by closing the Strait of Hormuz—a vital passage for 20% of the world’s oil trade.

This aggressive move signals escalating conflict, especially after Iran previously struck the Israeli Stock Exchange in response to cyberattacks.

If tensions boil over, analysts predict Bitcoin could see a sharp 20% plunge. Risk assets like BTC often react negatively to geopolitical uncertainty, and crypto traders are already bracing for potential fallout.

Reporter: Do you think there is a possibility that Iran, North Korea, and the other forces such as China will join forces and retaliate?

Pete Hegseth: Unfortunately, because of the policies of the previous administration, we drove those countries togetherpic.twitter.com/cPbZ2nocsf

— The Intellectualist (@highbrow_nobrow) June 22, 2025

We’ve seen similar global shockwaves disrupt the crypto landscape before. In the recent Gonjeshke Darande crypto heist, a major wallet breach created mass panic across markets and DeFi platforms.

Market watchers are closely monitoring further actions from Iran. With oil routes blocked and global anxiety rising, Bitcoin may enter a bearish zone if things spiral. The crypto market’s fear gauge is ticking upward.

Actions have Consequences. Here is everything that has happened since Trump bombed Iran:

– China and Russia strongly condemn US attack on Iran they claim violates UN charter.

– Iran’s foreign minister says he will head to Moscow today, will meet Putin.

– IRGC Threatens to… pic.twitter.com/2L33SRaDZO

— Brian Krassenstein (@krassenstein) June 22, 2025

DeFi Developments Take Center Stage

Even as geopolitical concerns dominate headlines, the crypto news cycle is rich with innovation across Web3.

Injective Summit Could Fuel INJ Momentum

The highly-anticipated Injective Summit lands in New York on June 26. Injective Protocol, a lightning-fast Layer 1 blockchain built for finance, is expected to reveal a major announcement. The buzz suggests upgrades tied to the Injective EVM or its Real-World Asset (RWA) Module, which could drive stronger institutional interest.

The Injective network, known for its decentralized derivatives and strong DeFi presence, already commands over $137 million in daily trading volume. This summit may introduce key partnerships or advanced dApps, reinforcing its deflationary INJ token model.

Just 20 days until the Injective Summit starts.

Get ready to witness game-changing announcements, major reveals and the next evolution of finance.

Reserve your spot: https://t.co/5npkrhzwLh pic.twitter.com/ty1jyDIoVu

— Injective 🗽 NYC Summit – June 26th (@injective) June 6, 2025

Notable figures like Thomas Cowan of Galaxy Digital and Kyle DaCruz from VanEck will be attending, indicating the event’s significance for institutional investors and developers alike.

As platforms aim to build trust, it’s worth recalling how scams like the WhiteRock Ponzi scandal continue to damage investor confidence in the DeFi world.

Injective (INJ) Price and Daily Trading Volume. Source: CoinGecko – Techtoken

Infinex and Synthetix Step Up

Another hot update comes from Infinex, a DeFi platform built on Synthetix and Base. On June 24, it’s expected to unveil Infinex Connect—a feature that will simplify interactions across EVM chains and Solana. The tool could bring Web2-level usability to Web3 finance by integrating powerful protocols like Synthetix Perps V3 and Aave.

Following a massive $67.7 million NFT sale, Infinex is positioning itself to rival centralized exchanges with its intuitive, non-custodial wallet experience. The big reveal may also cover token governance updates, despite co-founder Kain Warwick’s skepticism toward airdrops.

Things i’m most Excited about next on @infinex:

1. Infinex Connect

One of the most important features of Infinex is coming soon. With Infinex Connect, you’ll only need a single login to access and use any dApps in 1 click.

Imagine this :

You want to use your @felixprotocol… pic.twitter.com/ly7VK6ScWG

— Le ( revenge arc ) (@0xleegend) June 23, 2025

Meanwhile, Synthetix is preparing to launch its decentralized perpetuals exchange on the Ethereum Mainnet. After operating on Optimism, this shift is aimed at consolidating liquidity and improving trading efficiency.

Using Synthetix Perps V3, the exchange will support trades with sUSD and SNX collateral, potentially attracting new liquidity with yields near 19.83% APY.

Synthetix (SNX) TVL. Source: DefiLlama – Techtoken

$23M BLAST Unlock Could Jolt the Market

Also hitting the crypto scene this week is the BLAST token unlock. On June 26, 10.5 billion BLAST tokens worth $23.49 million—roughly 34.94% of the circulating supply—will be unlocked. Historically, large token releases often lead to market sell-offs, especially if early investors choose to cash out.

BLAST Token Unlocks. Source: Tokenomist.ai – Techtoken

BLAST is tied to Ethereum Layer 2 scaling, and this unlock follows similar events like Taiko’s $46 million token unlock. With the price of BLAST hovering at $0.00223 (up 3% recently), investors are watching closely to see if post-unlock pressure will crash or pump the price.

The newly unlocked tokens will go to core contributors and early backers, as per data from Tokenomist.ai. Given the token’s low market price and high supply release, short-term volatility is likely.

As seen in the recent ZKJ Token crash, large token dumps can drain market confidence and trigger chain reactions across similar ecosystems.

Projects with weak fundamentals may struggle more, like the ongoing SPK Token price drop that’s rattled holders due to poor transparency and inflated tokenomics.

In other trending crypto news, even promising projects like Pi Network are facing backlash, as user sentiment falls amid failed expectations and poor product execution.