Taiwan's AI chip dominance solidifies its strategic global tech position, challenging other nations to innovate or face prolonged dependency.

The post TSMC CEO C.C. Wei highlights Taiwan’s strong AI advantage, calls it nearly impossible to challenge appeared first on Crypto Briefing.

Nvidia's move into consumer AI chips could disrupt the PC market, challenging established players and accelerating on-device AI adoption.

The post Nvidia takes AI battle from data center to laptop with new RTX Spark superchip appeared first on Crypto Briefing.

Cerebras' strategic alliances may reshape AI hardware dynamics, challenging Nvidia's dominance and diversifying the semiconductor market.

The post Cerebras plans partnerships with AI component suppliers, excludes Nvidia appeared first on Crypto Briefing.

Lebanese troop movement may signal regional de-escalation, but long-term peace remains uncertain amid ongoing Israel-Hezbollah tensions.

The post Lebanese troops enter Dibbine as Israeli forces withdraw appeared first on Crypto Briefing.

TSMC's Arizona expansion underscores the strategic importance of U.S. semiconductor manufacturing, boosting local economies and tech innovation.

The post TSMC CEO says Arizona land parcels will meet needs for next decade appeared first on Crypto Briefing.

Bitcoin Magazine

Standard Chartered Sees Bitcoin Bottom ‘Almost In’ as Sell-Off Cuts 14% in Seven Days

Bitcoin shed 14% in seven days, sliding to levels not seen since February, as a convergence of institutional outflows, leverage liquidations, geopolitical pressure, and a shock sale from Strategy rattled digital asset markets. 

Yet Standard Chartered’s global head of digital assets research, Geoff Kendrick, told clients the bear market may be in its final stages — and that the low is “almost in.”

“I think when we look back at the end of 2026 with BTC at $100k… we will say this was the buying zone we all wanted,” he wrote. 

Bitcoin traded around $63,739 on Wednesday, down from a 24-hour high of $67,416.50, after touching a session low near $61,463 — the first time it breached that threshold since the February crash. The decline placed BTC roughly 51% below its all-time high of $126,277, set in October 2025.

The trigger that broke market confidence came from a Monday SEC filing. Strategy disclosed the sale of 32 Bitcoin between May 26 and May 31, generating approximately $2.5 million at an average price of $77,135 per coin. 

The transaction represented the firm’s first net reduction of its Bitcoin holdings in years — a break from co-founder Michael Saylor’s well-known “never sell” posture . The sale was executed to fund dividend obligations on Strategy’s STRC preferred shares, which carry an annual variable dividend of 11.5%.

The market reaction was sharp. Bitcoin fell below $72,000 the same day as the SEC filing. Strategy’s own stock dropped near 6%, and STRC shares traded around $94 .

U.S. spot Bitcoin ETFs are recording a 13 consecutive day streak of net outflows — the longest run since the products launched in early 2024. Total withdrawals reached approximately $3.45 billion across that stretch. The week ending May 29 alone saw $1.42 billion in net outflows, the third-largest weekly withdrawal on record. 

For the full month of May, cumulative spot ETF outflows reached $2.30 billion, making it the worst month of 2026.

Kendrick’s three bitcoin pillars

Against this backdrop, Kendrick laid out three reasons he believes the market is near a floor.

First, Strategy’s behavior in 2022 offers a precedent. When the firm last sold Bitcoin in December of that year, it purchased more than it sold two days later. Kendrick said he expects the same pattern to repeat — with a potential buyback of up to 100 times the 32 BTC sold. 

A confirmed purchase as early as next Monday would, in his view, serve as a tentative signal that the low is in.

Second, spot ETF holdings have held up better than feared. The cumulative net inflow since inception remains at $54.2 billion — right where it stood earlier in the year. Total BTC held by the 11 U.S.-listed funds sits at approximately 674,000 BTC, down from a peak near 682,000 but broadly unchanged in structural terms. 

“This tells me that ETF holdings are more structurally strong than I had feared in February,” Kendrick said.

Third, the pool of leveraged longs available for liquidation is smaller than in prior drawdowns. Bitcoin futures bets worth $1.5 billion were liquidated by exchanges during the current sell-off, a figure in line with January’s. 

With BTC already underperforming equities through 2026, forced selling risk has diminished.

Macro Headwinds Persist

Kendrick’s long-term targets remain $100,000 for Bitcoin by year-end.

This post Standard Chartered Sees Bitcoin Bottom ‘Almost In’ as Sell-Off Cuts 14% in Seven Days first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Plunges Below $62,000, Erasing Months of Recovery as Sell-Off Accelerates

Bitcoin price has tumbled to its lowest level in months Wednesday night, crashing below $62,000 and wiping out a sharp intraday loss of more than $5,300  — a decline of nearly 8% in 24 hours — as a perfect storm of institutional exodus, leverage liquidations, geopolitical fear, and a symbolic but jarring sale by Michael Saylor’s Strategy converged to shatter market confidence.

At approximately 10:00 PM EDT, Bitcoin price was changing hands at $61,463.22, down from a 24-hour high of $67,416.50 and dangerously close to the psychologically critical $60,000 floor. The selloff erased weeks of tentative recovery and put the world’s largest cryptocurrency nearly 51% below its all-time high of $126,277, set in October 2025.

The catalyst that many analysts believe broke the market’s will was a Monday SEC filing from Strategy revealing that the firm sold 32 Bitcoin between May 26 and May 31, generating approximately $2.5 million at an average price of $77,135 per coin. 

While negligible relative to Strategy’s holdings of more than 818,000 BTC, the transaction represented the company’s first disclosed net reduction of its Bitcoin position in years — a jarring break from co-founder Michael Saylor’s long-standing “never sell” doctrine.

The move was intended to fund dividend obligations on its STRC preferred shares, which carry an annual variable dividend of 11.5%. Still, the market reacted viscerally. Bitcoin price immediately fell below $72,000 following the announcement, and Strategy’s own stock dropped nearly 6% the same day. 

Today, STRC traded hands around $94.

Bitcoin price craters as BTC ETFs continue outflows

U.S. spot Bitcoin ETFs recorded an 11-to-12 consecutive day streak of net outflows, the longest run since the products launched, with total withdrawals reaching approximately $3.45 billion across that period. The week ending May 29 alone saw $1.42 billion in net outflows, marking the third-largest weekly withdrawal on record.

For the full month of May, cumulative spot Bitcoin ETF outflows reached $2.30 billion — the worst single month of 2026 — even as Bitcoin’s price only fell 3.69% in that time, suggesting institutions were quietly derisking at a pace far ahead of what price action alone implied.

Beyond crypto-specific factors, Bitcoin price has been whipsawed by a deteriorating macroeconomic backdrop. Escalating U.S.-Iran tensions — including military flare-ups in the Middle East — have driven investors toward safety, triggering a risk-off move that has hammered high-volatility assets across the board. 

Adding to the bearish picture is the gravitational pull of the artificial intelligence boom. Capital that might have once flowed into Bitcoin is increasingly chasing AI-linked equities, with the impending IPOs of OpenAI and SpaceX diverting speculative interest. 

This post Bitcoin Price Plunges Below $62,000, Erasing Months of Recovery as Sell-Off Accelerates first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Franklin Templeton CEO: Blockchains Threaten Wall Street’s Fee Machine, Not Its Technology

Franklin Templeton CEO Jenny Johnson has a straightforward explanation for why major financial institutions have been slow to embrace public blockchains: the technology destroys their fee-based revenue streams.

Speaking at the Proof of Talk summit in Paris, Johnson — who oversees $1.74 trillion in assets at Franklin Templeton — told a panel audience that the resistance from traditional financial players is not about technology skepticism.

It is about protecting the business model. Banks and intermediaries that collect transaction fees at every step of the settlement process stand to lose that income the moment a smart contract can handle the same function at a fraction of the cost.

Johnson pointed to Franklin Templeton’s tokenized money market fund, Benji, as a concrete demonstration of the cost differential. Running 50,000 transactions through the firm’s legacy system cost $1.30 per transaction. The same volume processed on the Stellar blockchain came in at $1.13 per transaction — a meaningful reduction at institutional scale.

The announcement came as Franklin Templeton disclosed a new partnership with MoonPay, designed to let institutional investors move between stablecoins and the firm’s tokenized fund through an on-chain workflow.Franklin Templeton’s push into digital assets is one of the most aggressive moves by a legacy asset manager in the industry’s history. The California-based firm, which manages roughly $1.74 trillion in assets, began building its dedicated digital assets team in 2018 — years before tokenization became a mainstream focus among institutional players.

Franklin Templeton’s bitcoin and crypto push

Benji launched in 2021 as the world’s first U.S.-registered mutual fund to use a public blockchain as its official system of record for processing transactions and recording share ownership. The fund invests predominantly in U.S. Treasury securities and uses blockchain strictly for operational efficiency rather than crypto exposure. 

On the bitcoin front, Franklin Templeton launched the Franklin Bitcoin ETF (ticker: EZBC), a passive product that holds only bitcoin and cash, designed for investors seeking direct price exposure without managing custody. 

The firm also offers a dynamic bitcoin/ethereum separately managed account product for investors wanting active allocation between the two largest digital assets.

In April 2026, Franklin Templeton announced plans to acquire 250 Digital, a spinoff from crypto venture firm CoinFund, forming a new division called Franklin Crypto to pursue active cryptocurrency investment strategies at institutional scale. 

The deal itself broke new ground — BENJI tokens were used as part of the acquisition payment, making it one of the first M&A transactions structured on-chain. The firm’s digital assets division manages approximately $1.8 billion in assets.

This post Franklin Templeton CEO: Blockchains Threaten Wall Street’s Fee Machine, Not Its Technology first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Crashes to Precarious Position Below $65,000 as Momentum Rotates Into AI, IPOs

Bitcoin price is holding a risky position near $65,000 Wednesday, down roughly 12% over the past seven days and trading at its lowest level since February as a broad rotation out of crypto into competing speculative trades chips away at the foundation of its recent bull run. 

The world’s largest cryptocurrency touched a bitcoin price of $64,987 earlier in the session before a partial recovery, but analysts and strategists say the weakness runs deeper than any single catalyst.

The most popular explanation — that Strategy’s (MSTR) first bitcoin sale in four years triggered the slide — is being challenged by a growing chorus of market voices. 

Charles Schwab director of digital currencies research and strategy Jim Ferraioli that the issue in simpler terms: bitcoin is losing its status as the market’s dominant momentum trade.

“Bitcoin has been in a bear market since October,” Ferraioli said according to CoinDesk reporting. “There’s a lack of a reason to be buying here when there’s other things you can choose.”

A broader sentiment in the bitcoin space is that the asset class is facing a competition problem, not a confidence problem. 

Capital that once poured into crypto in search of high-octane returns is rotating toward artificial intelligence stocks, gold, and a wave of high-profile IPOs from private tech firms including SpaceX, OpenAI, and Anthropic. 

Those offerings represent some of the most anticipated market events of the year, and investors appear to be freeing up liquidity to participate.

Wall Street bank Citi reinforced a similar structural concern Wednesday. Analyst Alex Saunders estimated that spot bitcoin ETF flows account for roughly 45% of weekly BTC price variation — the clearest real-time gauge of investor demand.

Those flows have turned negative. Saunders also flagged diminishing prospects for the Clarity Act, a U.S. crypto market structure bill that many in the industry viewed as a potential catalyst for fresh institutional inflows. 

Without that regulatory tailwind, the bank sees sentiment remaining muted.

Strategy’s sale of 32 BTC for approximately $2.5 million in late May did rattle markets. The transaction marked a rare departure from Executive Chairman Michael Saylor’s longstanding “buy and hold” approach and sparked concern that one of bitcoin’s most prominent corporate backers could shift from buyer to seller. 

Strategy attributed the move to a tax-optimization plan disclosed during its first-quarter earnings call. 

Citi said the sale was anticipated and does not change the firm’s broader strategy. Ferraioli described it as a convenient narrative attached to a trend already underway, noting that many ETF investors sitting near breakeven are treating the current price level as an exit opportunity rather than a buying opportunity.

Are the U.S. and Iran tensions causing a bitcoin price dip?

Another theory gaining traction in analyst circles points to U.S. sanctions on Iran’s digital asset ecosystem as a source of persistent selling pressure. 

Treasury Secretary Scott Bessent announced the freezing of more than $1 billion in Iranian crypto assets last week, and the U.S. sanctioned Nobitex, Iran’s largest crypto exchange, on Tuesday for alleged ties to the Islamic Revolutionary Guard Corps. 

From a technical standpoint, the bitcoin price at $65,000 level is critical. This level is a test of year-to-date lows around $60,000. Bitcoin Magazine Pro data points to an initial support in the $63,000–$64,000 bitcoin price range, where bids emerged in February and March, with a bitcoin price of $60,000 representing the next major psychological floor and $58,000 beyond that.

This marks the third test of bitcoin price’s February 6 panic low. The prior two — on February 24 and March 29 — produced sharp recoveries above $70,000. Seasonal weakness, historically concentrated in summer months, gives bulls little immediate help. 

With AI assets outperforming, IPO pipelines absorbing speculative capital, and legislative catalysts receding, bitcoin’s path back to momentum-driven price discovery depends on investor attention returning — and right now, that attention is pointed elsewhere.

At the time of writing the bitcoin price is near $65,300.

This post Bitcoin Price Crashes to Precarious Position Below $65,000 as Momentum Rotates Into AI, IPOs first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Blockware Appoints Megan Brooks-Anderson as Chief Executive Officer

HOUSTON, Texas – June 3, 2026 – Blockware, a vertically integrated infrastructure platform spanning AI/HPC compute, Bitcoin mining, data center hosting, and marketplace liquidity, has named Megan Brooks-Anderson as its new Chief Executive Officer. The appointment follows the board’s removal of Mason Jappa from the role.

Brooks-Anderson comes to the CEO seat after serving as Blockware’s Chief Strategy Officer, and is one of the architects of the very direction she’s now been tapped to execute. She brings more than 20 years of experience across Bitcoin mining, public and private company operations, risk management, M&A, and internal controls. Before Blockware, COO at Riot Platforms (NASDAQ: RIOT), where she helped build and scale one of the largest Bitcoin mining operations in North America.

“I’m honored to step into this role at such a pivotal moment for Blockware,” said Brooks-Anderson. “We have an exceptional team, strong partnerships, and a clear path forward. My focus from day one is on execution and delivering immediate value for our investors, our partners, and the talented people who make this company what it is.”

Brooks-Anderson will lead alongside co-founder and newly-appointed President, Sam Chwarzynski. The two share a long-standing commitment to doing right by the team and investors — a standard rooted in the legacy of co-founder Matt DSouza, whose vision for building something meaningful continues to shape the company’s culture and direction.

The leadership transition comes at an inflection point for Blockware. The company is moving aggressively into artificial intelligence and high-performance computing infrastructure, with a formal announcement expected in July. That expansion will build on Blockware’s existing infrastructure footprint through partnerships with major AI/HPC partnerships. Blockware’s core mining business remains a central piece to its long-term strategy, and existing clients and partners will remain a priority as the company scales into new verticals.

Backed by an experienced leadership team led by Brooks-Anderson and Chwarzynski, established strategic partnerships, and a clear path for expansion, Blockware is poised to enter its next chapter with strong momentum and the leadership required to capitalize on emerging opportunities.

For more information, visit blockwaresolutions.com. 

###

About Blockware

Blockware is a vertically integrated infrastructure platform powering AI/HPC compute, Bitcoin mining, data center hosting, and marketplace liquidity. Since 2017, the company has built end-to-end capabilities across hardware sourcing, deployment, and operations, and is expanding its marketplace and infrastructure model into AI/HPC infrastructure through it’s subsidiary, Nodestream. By combining procurement, site readiness, marketplace liquidity, and operational expertise, Blockware enables institutional and enterprise customers to access compute resources more efficiently for both Bitcoin and AI workloads. With over 400,000 servers sold, nearly 1 GW of energized capacity, and a growing institutional client base, Blockware is distinguished by its cross-market scale and integrated execution.

Media Contact: blockware@melrosepr.com

Disclaimer: This is a sponsored press release. Readers are encouraged to perform their own due diligence before acting on any information presented in this article.

This post Blockware Appoints Megan Brooks-Anderson as Chief Executive Officer first appeared on Bitcoin Magazine and is written by Bitcoin Magazine.

Thomas Lee's BitMine is turning to the preferred-stock market to raise fresh capital for its Ethereum strategy, offering investors a 9.5% annual payout.

On June 3, the company revealed plans to sell 3 million shares of 9.50% Series A perpetual preferred stock with a $100 stated amount, creating a potential $300 million raise.

The shares are expected to trade on the New York Stock Exchange under the ticker BMNP if the listing is approved. Moelis & Company and Cantor are serving as joint lead bookrunners.

If sold in full, the offering would add about $28.5 million in annual dividend obligations, paid weekly when declared by BitMine’s board.

The sale comes as the Ethereum treasury company faces a sharper test of the corporate crypto model. Due to current market conditions, BitMine’s unrealized losses on ETH have exceeded $8 billion after ETH’s decline pushed the asset well below the company’s average purchase price.

Still, this move will deepen the link between the firm's balance sheet, its staking operation, and the public-market investors being asked to finance its next stage of accumulation.

A payout built around Ethereum yield

BitMine said proceeds from the offering may be used for general corporate purposes, including additional purchases of ETH and other digital assets, expansion of its staking and validator infrastructure, working capital, Ethereum-related strategic investments, and repurchases of its common stock.

That broad use of proceeds makes the offering more than a balance-sheet repair. It could allow BitMine to keep accumulating ETH while market prices remain weak, reinforcing the company’s role as the largest public Ethereum treasury firm.

Over the past year, the company has built its ETH portfolio position through aggressive purchases and currently holds more than 5.3 million tokens. This represents around 4.5% of ETH's circulating supply.

Notably, a large share of that stack is staked, allowing BitMine to earn protocol rewards while it holds the tokens.

Chairman Thomas Lee has argued that those staking rewards give Ethereum treasury firms an advantage over Bitcoin-focused vehicles. Unlike Bitcoin, ETH can produce yield through staking, allowing a company to earn returns without selling the underlying asset.

That distinction is central to BitMine’s new preferred stock. At a 9.5% coupon, the full $300 million offering would cost roughly $548,000 a week in dividends.

BitMine has said its annualized staking revenue is running in the hundreds of millions of dollars, suggesting the preferred payout is small relative to the income its staked ETH could generate under ordinary market conditions.

Moreover, the broader Ethereum treasury sector is already moving in that direction. Staking accounted for 60% of disclosed revenue across publicly listed ETH treasury firms in 2025, according to a study from staking provider Everstake.

The report said the figure was drawn from companies that separately broke out staking-related income, showing how active deployment has become a larger part of the public ETH treasury model.

That revenue mix helps explain why BitMine is leaning on Ethereum’s yield profile at the same time it is asking investors to accept a fixed 9.5% payout.

The company is not merely holding ETH as a treasury reserve. It is trying to convert that reserve into a recurring income base that can support capital-market financing.

However, the company’s filing also shows why the structure is not risk-free.

BitMine does not pledge a dedicated pool of staking income to the preferred shares. Instead, the filing says dividends may be funded through available cash, ETH yield activity, securities sales, future financing, or other sources.

Meanwhile, the firm also warns that staking income may not be sufficient and that staked ETH may not be immediately available for withdrawal or sale during periods of stress.

That caveat is central to the transaction because the preferred stock turns part of BitMine’s Ethereum bet into a recurring cash obligation.

The Strategy's STRC comparison has limits

BitMine’s move closely resembles the financing model used by Strategy, Michael Saylor’s Bitcoin treasury company, which has repeatedly tapped preferred shares and other securities to fund crypto accumulation and manage its capital structure.

Both companies are using public-market instruments to transform investor demand for yield into balance-sheet capacity for digital-asset purchases. Both have sought to create securities that appeal to investors who may want exposure to a crypto treasury without directly owning the underlying token.

Both are also operating in a market where the value of their main asset can change sharply before the cash obligation attached to the security comes due.

However, this comparison has limits.

Strategy’s STRC preferred is a variable-rate product designed to help keep the shares trading near their $100 stated amount. Its dividend rate can be adjusted monthly, giving Strategy a tool to respond if market pricing drifts away from par.

BitMine’s Series A preferred is simpler in one respect and stricter in another. It carries a fixed 9.5% coupon, paid weekly in arrears when declared, rather than a variable rate that can be reset to influence the trading price.

If dividends are not paid, however, they accumulate and compound weekly. The rate on unpaid dividends can step up over time, capped at 15% annually.

The preferred shares also include a liquidation preference that begins at $100 and adjusts based on a market-price formula, while never falling below $100.

BitMine can redeem the shares at 110% of the stated amount during the first 18 months, 105% from 18 months to three years, and 100% after three years, plus accumulated and unpaid dividends. Holders would also have repurchase rights if certain fundamental changes occur.

Those terms give BitMine flexibility, but they also show the price of raising capital in a weaker crypto market. A 9.5% payout is high enough to draw attention from income investors, but it also reflects the premium demanded from a company whose main asset base is tied to ETH.

The post Ethereum treasury giant offers 9.5% payout as BitMine paper losses top $8.5 billion appeared first on CryptoSlate.

Charles Hoskinson has announced that he is “taking a break” from the pressure around Cardano after an emotional plea to the community. His remarks, however, point to frustration rather than abandonment.

It seems that the Cardano founder is openly questioning his remaining power over the network at a time when ADA holders are blaming him for price weakness, governance disputes, and a fragile application ecosystem.

In a video shared on X, Hoskinson said the second half of the year would be hard for Cardano and warned that more dApps and DeFi projects could die as the ecosystem consolidates.

He asked what role he personally has in fixing that problem and said, “I don't have any special powers with Cardano.” In a separate update from his X account, he said: “I'm taking a break. TTYL.”

That combination has triggered the obvious question: has Hoskinson given up on Cardano? It leaves a public pause amid pressure rather than a resignation. He seems to be trying to separate his public responsibility for Cardano's mood from the formal controls that now sit elsewhere.

A founder without the override

Hoskinson's comments cut to the heart of the central tension in Cardano's current era. He remains the person most associated with the chain in public markets, but Cardano's own governance structure was built to make protocol and treasury control more distributed.

That context matters because Hoskinson's list of limits was specific. He said he lacks governance keys, cannot initiate a hard fork or protocol parameter change, has no access to the treasury, and does not own the Cardano trademark.

The Cardano Constitution defines hard-fork initiation, protocol parameter changes, and treasury withdrawals as governance actions.

The Cardano Developer Portal describes a governance model involving DReps, stake pool operators, and the Constitutional Committee, rather than a founder key that can force a protocol change on demand.

Hoskinson still has influence. He leads Input Output Global, commands a large public audience, and can shape debate around funding, development priorities, and ecosystem strategy.

But influence is different from custody over governance keys, direct treasury access, or unilateral authority to initiate a hard fork.

Hoskinson also pointed out that he does not even own the Cardano trademark.

The Cardano Foundation's trademark policy states that the Cardano marks are owned by the Foundation. That detail matters because his comments went beyond blaming the price. They were about whether the levers people assume he controls are actually his to pull.

Cardano's Voltaire roadmap framed voting and treasury systems as the path to a network no longer under IOHK's management.

CryptoSlate's January 2025 Plomin hard fork coverage described that upgrade as a step that gave ADA holders direct voting power over key network decisions, including parameters, treasury withdrawals, and hard forks.

Hoskinson's frustration is part of Cardano's decentralization story. The same governance structure that lets the community resist founder-backed spending also leaves the founder without a clean override when the market demands an immediate rescue.

That design creates a sharp market tension. Cardano markets still assign personal accountability to Hoskinson because he is the network's most recognizable advocate, while governance routes capital allocation and protocol changes through bodies that can disagree with him.

The more Cardano proves it is decentralized, the less realistic it becomes for traders to expect a founder rescue on demand.

The budget fight behind the break

The timing here is interesting. Cardano is in the middle of a live funding fight over how much control Input Output and other ecosystem institutions should have over treasury resources.

Intersect's 2026 budget process sets out a framework for coordinating treasury requests.

A current CGOV proposal for Cardano Vision 2026 seeks 32.92 million ADA for IO Research, with voting scheduled to run into June 8, 2026.

CryptoSlate previously reported that Hoskinson warned Cardano could lose scientists if Input Output's research funding failed.

That May 22 report described the standoff as a test of decentralized governance, with DReps resisting parts of a funding package tied to research, maintenance, scalability, developer tooling, and other technical priorities.

Related Reading

Cardano founder warns network could lose its scientists in Input Output’s 33M ADA funding vote fails

Input Output faces an unprecedented funding crisis as decentralized governance members hesitate to approve the 2026 development roadmap.

May 22, 2026 · Oluwapelumi Adejumo

A later CryptoSlate article said Hoskinson was refocusing on Cardano and Midnight as governance resistance mounted.

That recent context cuts against a simple abandonment narrative. Days before the break post, the public framing was a deeper return to Cardano's political and technical fight.

Related Reading

Charles Hoskinson goes all-in on Cardano and Midnight after $250 million hospital shutdown

Charles Hoskinson says he is fully focused on Cardano and Midnight as DReps resist a funding plan tied to the network’s research future.

May 26, 2026 · Oluwapelumi Adejumo

Still, the break lands in a market that has little patience for governance nuance. CryptoSlate's June 4 market snapshot showed Cardano ranked No. 13, with ADA near $0.18, down 10% over 24 hours, down 25% over 30 days, and 93% below its all-time high at the time of retrieval.

The direction of pressure is clear enough. The Cardano price page shows an asset that has lost momentum while rival ecosystems compete for developers, stablecoins, and liquidity.

That is where Hoskinson's comments become more consequential. If Cardano's DeFi base, dApp sector, and funding process need to improve, the fix has to move through governance participants, builders, infrastructure teams, and ecosystem institutions.

A founder can argue, persuade, threaten to walk away from specific proposals, or take a break from public pressure. He cannot make a decentralized governance system behave like a company board that reports to him.

The real test is execution

Cardano's near-term question centers on whether the network can turn decentralized control into visible execution.

CryptoSlate's May 21 analysis of Cardano's hard-fork vote and DeFi weakness framed the Van Rossem upgrade as a test of whether cheaper scripts, cryptographic upgrades, and governance coordination can translate into developer activity.

Related Reading

Cardano’s May 29 hard fork vote brings ADA’s DeFi weakness into view

Cardano’s May 29 mainnet vote will test whether cheaper Plutus scripts, ZK-ready cryptography, and governance upgrades can attract developers and strengthen ADA activity.

May 21, 2026 · Gino Matos

That remains the most durable benchmark.

The bearish take is that Hoskinson's break becomes a confidence shock if the community interprets it as withdrawal while funding disputes and usage weakness remain unresolved.

That scenario would leave Cardano with the downside of founder dependency and the friction of decentralized approval: traders still blame one person, while the system requires many parties to act.

A constructive take would be that the moment forces Cardano stakeholders to use the system they built.

DReps, SPOs, Intersect, the Cardano Foundation, EMURGO, Input Output, and builders would have to make budget choices, defend priorities, and deliver measurable results without relying on Hoskinson's presence as the default coordination layer.

The next signal is whether the active research proposal clears or fails, whether Cardano's institutions respond with a clearer execution plan, and whether usage metrics such as TVL, stablecoin liquidity, DEX volume, and active deployments begin to move.

Hoskinson still appears engaged with Cardano's future, even as he steps back from immediate public pressure. His break has exposed a sharper question for the network: if the founder cannot pull the levers people want him to pull, can Cardano's governance system pull them in time?

The post Cardano founder Charles Hoskinson takes “a break” – exposing who really controls ADA’s next move appeared first on CryptoSlate.

Zcash became the subject of a brief market scare after block explorers appeared to show that the privacy-focused blockchain had stopped producing blocks for several hours.

By the time developers and infrastructure providers pushed back on the claim, the market had already moved in the opposite direction. ZEC was recently trading near $620, up about 10% over the session, while Bitcoin and Ethereum dropped more than 4%, according to CryptoSlate's data.

The rally turned Zcash into a rare winner amid a broader crypto sell-off tied to renewed geopolitical stress, weaker digital-asset sentiment, and forced liquidations of leveraged positions.

The episode also gave traders a clearer test of what had initially looked like a damaging technical crisis: Zcash did not go offline, but part of its privacy system was deliberately shut down to carry out “the most ambitious network upgrade in Zcash's history.”

Zcash's outage rumor masked a narrower problem

The confusion started after Zcash completed an emergency network upgrade to restore Orchard, the shielded pool that underpins the network’s most advanced privacy transactions.

Some block explorers appeared to be stale after the upgrade, giving the impression that the blockchain had stopped.

Infrastructure operators later said those explorers were catching up or resyncing after their nodes upgraded, while miners continued to produce blocks, and transactions continued to be confirmed.

ZODL founder Josh Swihart wrote on X:

“Zcash was never down. Many block explorers have been using unpatched nodes. Happens with every network update.”

That distinction mattered. Zcash was not dealing with a total chain halt. Instead, developers had temporarily disabled Orchard transactions through an emergency soft fork while they prepared a permanent fix for a soundness vulnerability in the Orchard zero-knowledge proof circuit.

The Zcash Foundation said the vulnerability was discovered May 29 by independent security researcher Taylor Hornby, who was conducting protocol security research for Shielded Labs.

ZODL engineers confirmed the report within hours and began preparing a confidential response with miners, exchanges, infrastructure providers, and other network participants.

The first stage of the response was activated at block height 3,363,426 and rejected Orchard-containing transactions and blocks.

The second stage came with the NU6.2 hard fork, which activated at block height 3,364,600 early Wednesday and re-enabled Orchard using a corrected circuit.

The Foundation urged node operators to upgrade to Zebra 5.0.0, the software release that follows the new network rules.

Why Orchard became the center of the story

Orchard is not a peripheral part of Zcash. It is the network’s newest shielded pool and was introduced with the NU5 upgrade in 2022.

Unlike earlier Zcash privacy pools, Orchard uses Halo 2 and does not require a trusted setup, a long-running concern in the design of privacy-preserving cryptocurrencies. The Zcash Foundation described Orchard as the centerpiece of the network’s privacy architecture.

The bug affected the soundness of the Orchard circuit. In plain terms, soundness is the rule that a system should accept only valid transactions and valid state changes. A soundness flaw can allow a system to accept something it should reject.

In this case, the Foundation said successful exploitation could have allowed double-spending inside Orchard. That would have been serious for the shielded pool’s accounting, even though the issue did not allow an attacker to inflate Zcash’s total supply.

That limit is important. Zcash’s “turnstile” mechanism tracks how value moves among its pools, including Sprout, Sapling, Orchard, transparent addresses, and lockbox balances.

The Foundation said those checks confirmed the 21 million ZEC supply cap remained intact, with no evidence of unauthorized value creation.

The vulnerability also did not affect user privacy, according to the Foundation. Sapling and transparent transactions continued operating while Orchard was suspended.

The fix required a fork, not a routine patch

The emergency response unfolded in two steps because a normal software patch would not have been enough.

Developers first used a soft fork to disable Orchard while keeping details of the vulnerability private. A direct public patch could have exposed enough information for attackers to understand the flaw before the network had completed a full repair.

The permanent fix required a hard fork because the bug was inside the zero-knowledge proof circuit. Repairing that kind of flaw requires changing the pinned verifying key that the network uses to validate Orchard proofs. That kind of consensus-level change cannot be handled through ordinary node software alone.

The Zcash Foundation said the incident was only the second security-driven protocol upgrade in Zcash’s history since the network launched in 2016.

The coordination was unusually compressed. Private outreach to miners and exchanges began May 31.

An initial soft-fork activation attempt encountered deployment issues, prompting engineers to prepare a second patch. The soft fork then activated around 02:00 UTC on June 2, and the NU6.2 hard fork followed early June 3.

Market turns the scare into a resilience trade

The price reaction was striking because the disclosure landed during a weak session for digital assets.

Bitcoin recently traded around $65,900, while ETH was near $1,832, down about 4%, according to CryptoSlate's data. ZEC, by contrast, traded near $620, after reaching an intraday high above $642.

The broader market was already under pressure from renewed geopolitical tensions and oil market concerns. Reuters reported Wednesday that global markets weakened as conflict in the Middle East escalated and Brent crude approached $100 a barrel.

Crypto-specific pressure added to the move. Recent market reports showed that the Bitcoin price decline also triggered more than $1 billion in leveraged crypto positions liquidated during the sell-off, with long trades taking most of the damage.

Against that backdrop, ZEC’s rise suggested traders were not pricing the Orchard bug as a lasting impairment to the network. Instead, the market appeared to focus on the fact that the flaw was found, contained, and fixed before any known exploitation.

Moreover, the price movement showed how much interest the market had in the privacy-focused crypto token.

The post Zcash was rumored to have stopped working – then it became crypto’s only winner appeared first on CryptoSlate.

For traditional US banks, the CLARITY Act was intended as a firewall that effectively barred crypto companies from offering “passive” interest on stablecoins.

The legislation aimed to prevent a catastrophic deposit flight in which everyday checking account balances drain from the banking system into high-yield crypto exchanges.

But as lawmakers prepare to finalize the framework, Coinbase appears to be quietly structuring a loophole that relies on complex financial engineering to keep the lucrative yield flowing.

The key lies in a critical semantic distinction within Section 404 of the proposed legislation. While the CLARITY Act explicitly outlaws savings-account-style interest on stablecoins, it preserves “activity-based” rewards.

Enter Ethena, a synthetic dollar protocol that generates returns through an active, delta-neutral basis trade that involves shorting crypto perpetual futures while holding the spot asset.

By integrating with Ethena, Coinbase could theoretically route idle USDC into this strategy.

If successful, the exchange could pass along the profits of an active trading strategy and potentially offer massive yields on digital dollars right under regulators' noses while deeply frustrating a traditional banking sector stuck offering negligible rates.

The legislative wall called CLARITY Act

The CLARITY Act, a sweeping US market-structure bill designed to define how crypto assets and intermediaries operate under federal regulations, has been a legislative battleground.

At the center of the dispute that dragged out the Senate Banking Committee's process is the question of stablecoin rewards.

The latest compromise is primarily captured in Section 404, which was born from the Tillis-Alsobrooks amendment. The provision draws a hard regulatory line that the industry negotiated for months.

On one side is passive yield: simply holding a stablecoin balance and receiving periodic interest, which is structurally identical to a bank savings account. This is explicitly banned.

On the other side are activity-based rewards: incentives tied to actual customer activity, such as payments, transactions, platform usage, and trading. These are permitted.

The bank lobby pushed hard for these restrictions. Banking executives contend that firms offering bank-like products should face comparable oversight, reserve, and capital obligations.

If crypto platforms could freely pay savings-account rates on stablecoin balances without FDIC insurance requirements, they could easily siphon depositor capital at the expense of the regulated banking system.

JPMorgan Chase CEO Jamie Dimon recently voiced this exact frustration. In a recent interview, Dimon criticized Coinbase CEO Brian Armstrong and warned that the CLARITY Act could fail if traditional banking concerns aren't addressed.

Asked if he was satisfied with the current draft of the bill, Dimon was blunt, saying:

“No, because it allows them to effectively pay interest on deposits, stablecoins or something like that, without protection that they should have. The banks will not accept it that way…”

For the legislation to become law, representatives from the Senate Banking and Agriculture committees must merge their advanced bills before it clears the full Senate, the House, and lands on President Donald Trump’s desk. But while Washington debates, the crypto industry is already building around the new rules.

Coinbase's Ethena workaround

Coinbase relies heavily on stablecoins. In Q1 2026, the exchange reported $305.4 million in stablecoin revenue, making up roughly 52% of its subscription and services revenue.

The firm also stated that it held an average of about $19 billion in USDC across its products, accounting for more than 25% of the total USDC in circulation.

To protect this vital revenue engine under Section 404, Coinbase needed a product in which yield is tied to explicit activity rather than passive holding. Its new partnership with Ethena perfectly threads this needle.

Ethena stated:

“Ethena and Coinbase have partnered to grow on-chain finance and savings products for their 100 m+ user base, with the first growth initiative launching next week.”

Alongside the integration, Coinbase Ventures made its first investment into Ethena on the open market.

Coinbase also confirmed its expanded role, noting it will support security and operations across more than $5 billion in Ethena assets. Coinbase now serves as Ethena's primary custodian, wallet provider, and perpetuals venue.

Because Ethena generates yield through complex trading activities, Coinbase can route yield-seeking USDC users into real borrow demand and active market strategies.

Guy Young, Ethena's Founder, explicitly acknowledged the regulatory tailwinds, saying:

“Excited to partner with Coinbase for the first time to support their dollar savings products…Given the evolving nature of the Clarity Act, we expect further potential tailwinds for onchain native products like USDe from idle balances on exchanges, and Ethena is well positioned to support this transition.”

Yan Liberman, a managing partner at Delphi Ventures, highlighted exactly how lucrative this structural shift could be for both sides. He stated:

“Reading between the lines for the upcoming product launch referenced. Coinbase x Ethena is bullish because it can turn Coinbase’s ~$19B USDC base, with an implied ~$13B of reward-earning balances, into a funding rail for Ethena. If sUSDe yields clear baseline USDC rates, Coinbase can offer better USDC lending yields, loopers can lever the spread, and Ethena gets deeper/cheaper funding than native DeFi alone. Aave mechanics, Coinbase distribution.”

Liberman added that the CLARITY Act makes this pivot highly valuable. If lawmakers restrict passive USDC rewards, Ethena gives Coinbase a way to route users into real borrow demand rather than simply paying them for holding USDC.

He added:

“Coinbase needs products where yield is tied to explicit activity: lending, collateral, liquidity, or platform usage. Ethena gives them a way to route yield-seeking USDC users into real borrow demand, rather than just paying rewards for holding USDC.”

The new “Coinbase problem” for banks

While banks might feel protected by Section 404’s ban on passive interest, the Ethena loophole presents a new and immediate threat.

Stablecoins have outgrown their origins as a niche settlement layer. The total stablecoin market sits at roughly $320 billion, with USDC at about $76 billion and Ethena's USDe around $4.5 billion.

Because Circle backs USDC with highly liquid cash and cash-equivalent assets with monthly attestations, Coinbase’s strategy uses USDC as the trusted settlement asset, while Ethena supplies the yield-bearing synthetic-dollar layer.

Admittedly, an immediate systemic bank run is unlikely. US commercial bank deposits stood at roughly $19.3 trillion in late May 2026, and money-market fund assets sat at $7.78 trillion. Even if Coinbase converted its entire $19 billion USDC balance, it would be a drop in the bucket compared to the broader banking system.

However, the real danger to banks is marginal pricing pressure.

If mobile, yield-sensitive retail customers and institutional treasuries realize they can seamlessly access ~3.8% APY through an activity-based Ethena strategy inside a Coinbase app, they will inevitably move their idle cash.

To stem the outflow, traditional banks may be forced to raise their own historically low deposit rates, which directly eats into their net interest margins. Notably, US savings accounts yield just 0.38%, and interest checking accounts scrape the bottom at 0.07%.

Moreover, Tom Wan, head of research at Entropy Advisors, pointed out that the Coinbase and Ethena integration could be the beginning of an institutional synergy that bypasses traditional banking entirely.

Wan notes Ethena can leverage institutional lending via Coinbase Asset Management, utilize Coinbase Custody, and use USDC as a liquid stablecoin backing. In the future, Coinbase could become a primary basis trade venue and allocate backing assets to lending protocols like Aave on Base to grow USDe as a dominant savings product.

The post Banks pushed Congress to kill stablecoin yield with CLARITY Act – Coinbase may have found the loophole appeared first on CryptoSlate.

Mt. Gox moved more than $700 million worth of Bitcoin while the market was already under stress, giving traders a familiar reason to ask whether old bankruptcy coins are moving closer to new supply.

The estate-linked wallets moved 10,422 BTC on June 2, worth roughly $739 million at the time of the transfer. Most of the stack, 10,306 BTC, went to a fresh address beginning with 14FEEM, while 116 BTC moved to a known Mt. Gox hot wallet.

The transfer occurred in Bitcoin block 952,072 at around 04:47 UTC, months before the current repayment deadline of Oct. 31, 2026.

So, it seems that Mt. Gox is active again, while immediate sell pressure remains unconfirmed, as no onward movement to a custodian, exchange, liquidity provider, or creditor distribution venue was reported at the time of the initial report.

The transfer revived an old supply problem

Mt. Gox remains one of Bitcoin‘s longest-running market overhangs because the estate still controls a large BTC balance more than a decade after the exchange collapsed. The June 2 transfer carried weight because it reminded the market that a known pool of old coins can still move with little warning.

The remaining estate balance was reported at roughly 34,504 BTC after the move. The visible activity is split across multiple transfers rather than a single visible sell order, and direct exchange-bound flow remains unconfirmed.

Still, a balance of that size is enough to keep traders watching every large estate-linked movement for signs of distribution.

The official trustee process gives that concern a concrete calendar. In an Oct. 27, 2025 notice, the Mt. Gox Rehabilitation Trustee extended the deadline for several repayment categories from Oct. 31, 2025 to Oct. 31, 2026 with court permission.

Related Reading

Mt. Gox delayed to 2026: Does 34k BTC even move Bitcoin price anymore?

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Oct 27, 2025 · Liam 'Akiba' Wright

The notice said many creditors still had not received repayments because some had not completed required procedures or because processing issues remained.

That language points to a drawn-out process rather than a single clean market event. It also explains why wallet movement can be meaningful before immediate selling is visible.

Coins may move for internal wallet management, repayment preparation, custody setup, or liquidity routing before any creditor receives BTC or any exchange sees flow.

The next signal is onward routing

The practical threshold is simple: the transfer becomes stronger evidence of sell pressure when the coins move from estate-linked wallets toward venues that can distribute, custody, or sell them.

That is why Arkham's Mt. Gox entity page carries more weight than the headline dollar value alone. On-chain labels, destination clustering, and counterparties can indicate whether the fresh address remains part of the estate's wallet structure or begins interacting with exchange and repayment infrastructure.

The distinction is practical. A large internal transfer can still shake sentiment because it changes market expectations for the timeline. But a wallet reorganization is different from coins arriving at a venue where they can be sold or handed to creditors.

Related Reading

Mt Gox FUD: Bitcoin ETFs just sold more BTC than Mt Gox has left to give back

Nearly $950M in legacy coins shifted to a new wallet as Bitcoin breaks below $90,000, reviving anxieties over creditor repayments.

Nov 19, 2025 · Gino Matos

The former is a warning light. The latter is closer to actual supply.

The June 2 routing, as reported at the initial deadline, sat on the warning-light side of that line. The coins had moved, the process was live, and the repayment deadline was visible.

Yet the key downstream signal was still absent: no confirmed move into a custodian or exchange had been shown in the initial reporting.

The market may care about the transfer even without proof of sale, especially during a weak trading window. It still needs proof of onward routing before treating the move as immediate supply hitting Bitcoin order books.

The timing made the movement feel larger. On June 2, Bitcoin fell more than 5% below $68,000, and nearly $400 million in leveraged positions were liquidated within an hour.

Related Reading

Bitcoin flash crash below $68,000 triggers around $400 million in liquidation in under an hour

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Jun 2, 2026 · Oluwapelumi Adejumo

That backdrop carries weight because leveraged markets can turn a wallet alert into a sentiment catalyst.

The evidence supports timing, not causation. The Mt. Gox transfer occurred around 04:47 UTC, while the liquidation story describes same-day market pressure.

The cleaner conclusion is that Bitcoin was already vulnerable, and the Mt. Gox movement added another reason for traders to think about supply.

CryptoSlate market data on June 3 showed BTC trading at $66,737, down 3.76% over 24 hours, with $57.34 billion in 24-hour volume.

The broader CryptoSlate coin rankings showed a $2.3 trillion crypto market, $137 billion in 24-hour volume, and 57.9% Bitcoin dominance.

Those numbers cut in both directions. Bitcoin is deep enough that a staggered repayment process does not automatically overwhelm the market.

At the same time, a high-leverage selloff can make any large potential supply source feel more urgent than it would during calmer trading.

That puts the focus on whether a measurable path has opened from the estate to liquid supply. As of the initial reports, that path had not been shown.

Mt. Gox is now a process overhang

CryptoSlate's prior Mt. Gox coverage framed the 2026 repayment extension as a shift from a single-date shock to a recurring process overhang. That remains the best way to read the June 2 movement.

The deadline tells traders when the estate process is supposed to finish. The wallets tell traders whether that process is moving. The exchange, custodian, liquidity provider, or creditor endpoints indicate to traders whether the movement is shifting toward market supply.

Until those later signals appear, the most defensible answer is restrained. The June 2 transfer showed that a bankruptcy estate still holding tens of thousands of BTC is active again, even as Bitcoin is under pressure.

It also left the most important question about sell pressure unanswered.

That distinction is what keeps the move from becoming either complacency or panic. Mt. Gox has enough BTC left to remain a meaningful watch item, and the repayment process has a live deadline.

But the market signal to watch is not the first move into a fresh wallet. It is whether funds move from that wallet toward an exchange, custodian, liquidity provider, or repayment route.

The post Mt. Gox-linked wallets moved 10,422 BTC, worth roughly $739 million as BTC price slides appeared first on CryptoSlate.

he cryptocurrency market faced an abrupt and severe wave of liquidations over the opening days of June, catching market participants off guard. Bitcoin ($BTC) and Ethereum ($ETH) both suffered double-digit percentage losses within a 72-hour window.

The aggressive deleveraging event wiped out roughly $250 billion from the total digital asset market capitalization. Paradoxically, traditional financial markets have shown zero signs of systemic stress, with major US stock indices continuing to trade near their historical highs. This stark divergence leaves investors debating whether the correction is an isolated crypto liquidity shakeout, pure market manipulation, or if digital assets are front-running a broader macroeconomic turn.

Bitcoin Plunges 17% and Drags Altcoins Lower

Bitcoin led the market downturn, crashing by 17% over the course of three days. The premier cryptocurrency plummeted by $12,800, dropping from a stable position at $74,000 down to a local low of $61,300. The rapid velocity of the decline triggered an estimated $1.1 billion in total crypto liquidations across derivatives exchanges, primarily punishing over-leveraged long positions.

The bearish momentum instantly rippled into the altcoin market. Ethereum suffered a concurrent 14% drop, breaking past critical psychological support levels. The second-largest cryptocurrency by market cap hit a 13-month low of $1,715, marking its lowest valuation since April 12, 2025.

Spot Bitcoin ETFs See Record Redemptions

A primary catalyst accelerating the spot price decline is a sudden, aggressive shift in institutional sentiment. Just four days into June, US spot Bitcoin ETFs have already registered a staggering $1.4 billion in net outflows.

This rapid institutional exit follows heightened macro uncertainty regarding upcoming United States employment data and localized geopolitical flare-ups. Analysts point out that rising Treasury yields have forced institutional desks to de-risk, treating spot crypto products as the first line of liquidity to prune from portfolios.

Is the Crypto Crash Manipulated or a Macro Front-Runner?

The lack of negative news or corresponding drops in the equity markets has fueled two competing theories across trading desks regarding whether the crypto market is being actively manipulated:

• Whale Manipulation: With major structural regulations navigating through global committees, large-scale holders ("whales") and institutional market makers may be engineering a local washout. By driving prices down rapidly, they trigger stop-losses and liquidate retail long positions, allowing them to accumulate spot supply at much cheaper price floors.
• Equity Market Front-Running: Historically, the highly liquid, 24/7 crypto market acts as an early liquidity gauge. Some analysts argue that crypto is not manipulated but is simply front-running an impending stock market correction, pricing in sticky Federal Reserve inflation expectations before traditional equities respond.

Traders are now closely watching the $60,000 macro support zone for Bitcoin. Failure to defend this boundary could open the door for an extended bearish structure heading deeper into the summer.

The cryptocurrency market is experiencing a significant downturn today, with major digital assets flashing red across the board. Data from the major token tracking indexes reveals a broad-based sell-off affecting both market leaders and prominent altcoins, wiping out billions in total market capitalization over a 24-hour period.

Crypto Crash Today: Bitcoin and Ethereum Lead the Decline

The CoinMarketCap 20 Index DTF (CMC20) has declined by 5.14% over the last 24 hours, pushing its Year-to-Date (YTD) losses to 30.18%. This underscores a broader systemic correction within the digital asset ecosystem rather than isolated token liquidations.

• Bitcoin ($BTC): The largest cryptocurrency by market cap has dropped by 5.10% over the last 24 hours, trading at $63,501.86. Zooming out, Bitcoin’s weekly performance shows a 13.21% decline, while its YTD performance stands at a loss of 27.44%.
• Ethereum ($ETH): The leading smart contract platform is trading at $1,772.45, reflecting a 5.40% daily decline. Ethereum has felt a deeper impact than Bitcoin over longer timeframes, posting a 10.80% drop over the last 7 days and a staggering 40.26% decline YTD.

Crypto Prices Face Deeper Liquidations

Excluding stablecoins like Tether (USDT) and USD Coin (USDC), which have maintained their pegs, the altcoin market is bearing the brunt of the volatility.

• Solana (SOL) remains one of the hardest-hit large-cap assets in this correction cycle, losing nearly 8% of its value in 24 hours and over 44% since the beginning of the year. Meanwhile, Layer-1 networks like BNB and XRP are down over 6% today.
• Hyperliquid (HYPE) shows a minor variation, down 5.85% today but remaining up 19.82% over the last 7 days due to isolated ecosystem momentum. However, its intraday trajectory matches the dominant market trend.

Crypto Crash Reason: Explaining the Downturn

While digital asset volatility is standard, several macroeconomic and structural factors typically trigger synchronized market drawdowns of this scale:

1. Macroeconomic Headwinds and Interest Rate Pressures

Broader financial markets heavily influence the digital asset space. Sustained high-interest rates set by the Federal Reserve often drive capital away from risk-on assets like cryptocurrencies and tech equities toward safer yields like U.S. Treasuries. Institutional investors pull liquidity from volatile positions during macroeconomic uncertainty.

2. Derivative Liquidations

When major support levels break—such as Bitcoin falling below key psychological thresholds—it often triggers a cascade of automated liquidations on futures exchanges. Long positions are forcefully closed, introducing massive sell volume to the market within a short timeframe, accelerating the drop.

3. Outflows from Institutional Investment Vehicles

Spot Bitcoin and Ethereum ETFs heavily impact price action. Sustained net outflows from these institutional vehicles reduce structural buying pressure, allowing spot market sell orders to push asset prices down more aggressively.

What is Next for the Crypto Market?

The short-term trend remains firmly bearish as trading volume spikes amidst the sell-off, indicating active distribution. Traders are looking for signs of price stabilization around major historical support zones before anticipating a trend reversal. Until macroeconomic indicators ease or institutional buy walls return, the crypto market is likely to experience continued choppy price action.

The cryptocurrency market in June 2026 is experiencing a structural shift. Speculative hype is clearing out, making way for institutional capital, real-world asset (RWA) tokenization, and decentralized artificial intelligence infrastructure.

With major regulatory frameworks like the CLARITY Act shaping asset definitions and central banks adjusting interest rates, smart capital is moving into protocols that generate protocol revenue and real-world utility. For investors looking to build a balanced portfolio this month, identifying leading assets within specific sectors is crucial.

Below is an analysis of the top 5 altcoins to buy in June 2026, categorized by market sector, focusing on project fundamentals and technical growth targets.

1. Solana (SOL) – The High-Performance Layer-1 Leader

Project Ecosystem Overview

Solana continues to solidify its position as the premier Layer-1 blockchain for retail liquidity, decentralized finance (DeFi), and high-throughput consumer applications. Moving past the initial memecoin cycles, Solana's monolithic infrastructure has proven highly efficient for executing rapid transactions without relying on fragmented Layer-2 networks.

The network's execution speeds and low transaction fees have attracted major traditional fintech integrations. Platforms like PayPal and Visa utilize Solana's infrastructure for stablecoin settlements, securing its status as a major alternative to Ethereum’s settlement dominance.

Growth Catalysts and Target for 2026

• Institutional Traction: Continuous spot ETF developments and corporate stablecoin deployments.
• Firedancer Mainnet Optimization: The full implementation of the Firedancer validator client provides unprecedented network reliability and throughput capabilities.
• Growth Target: Market analysts project SOL to break past long-term resistance walls, targeting a mid-to-long-term valuation of $180 to $220 as institutional capital flows accelerate.

2. Bittensor (TAO) – The Decentralized AI Compute Infrastructure

Project Ecosystem Overview

The convergence of artificial intelligence and blockchain technology is a defining market narrative in 2026. Bittensor sits at the absolute forefront of this sector. TAO operates as a decentralized, open-source network that incentivizes machine learning models to collaborate and train across a global distributed node architecture.

Following its successful network upgrades, including the expansion of subnet capacities from 128 to 256, Bittensor has proven that distributed networks can train large-scale language models effectively. This makes it an essential infrastructure asset for developers seeking permissionless access to raw computing power and AI intelligence.

Growth Catalysts and Target for 2026

• Supply Scarcity: The long-term macroeconomic effects of its late 2025 halving event are constricting daily token issuance.
• Corporate Staking: Major institutional custody platforms like BitGo have established enterprise-grade staking infrastructure for TAO.
• Growth Target: As tech platforms transition away from centralized cloud monopolies, TAO aims to reclaim psychological resistance zones, targeting $450 to $500 by late 2026.

3. Ondo Finance (ONDO) – The Institutional RWA Pioneer

Project Ecosystem Overview

Real-world asset (RWA) tokenization has grown from a proof-of-concept into a multi-billion dollar sector. Ondo Finance is a market leader in this category, bridging the gap between traditional finance (TradFi) and on-chain liquidity. Ondo specializes in bringing institutional-grade financial products, such as US Treasuries and corporate bonds, onto public blockchains like Ethereum and Solana.

By embedding strict automated compliance directly into its smart contracts, Ondo allows global institutional investors to access yield-bearing tokenized products safely. Its structural integration with clearing giants and Tier-1 liquidity providers places it far ahead of competing asset tokenization protocols.

Growth Catalysts and Target for 2026

• Macroeconomic Shift: Declining interest rates push on-chain investors toward stable, institutional yield products.
• Banking Rails Integration: Broadening cross-chain deployments across major public and institutional private ledgers.
• Growth Target: Backed by structural inflows into tokenized securities, ONDO targets a price target expansion toward $2.50 to $3.10 as total value locked (TVL) hits new milestones.

4. Near Protocol (NEAR) – The Foundational Layer for AI Agents

Project Ecosystem Overview

Near Protocol has evolved significantly from a standard smart contract platform into a core foundational layer for cross-chain "user intents" and autonomous AI agents. In 2026, decentralized applications rely heavily on AI agents executing transactions autonomously on behalf of users. Near provides the cryptographic framework necessary for these agents to interact across multiple chains securely.

Through its advanced chain abstraction technology, Near eliminates the friction of managing multiple wallets, gas fees, and network bridges. This enables seamless interactions where software can transact instantly behind a unified interface.

Growth Catalysts and Target for 2026

• AI Agent Web Integration: Infrastructure partnerships with web infrastructure providers to automate micro-payments for data and API processing.
• Mass Consumer Adoption: Positioned as the primary abstract layer for Web3 consumer applications.
• Growth Target: Driven by the narrative of autonomous on-chain commerce, NEAR's valuation targets a structural move toward $8.50 to $11.00.

5. Base (Ecosystem Tracking Token / Base Infrastructure)

Project Ecosystem Overview

While Base does not feature a native network token, it dominates the Ethereum Layer-2 ecosystem, capturing over 60% of total L2 network revenues according to on-chain analytics. Developed by Coinbase, Base serves as the primary gateway for retail capital entering Web3.

The ecosystem's primary value capture mechanisms flow directly back to the wider Ethereum L2 infrastructure layer and decentralized protocols built natively on the network (such as high-performance automated market makers and decentralized derivatives exchanges like Hyperliquid). It serves as an essential index for measuring the health of retail on-chain activity.

Growth Catalysts and Target for 2026

• Smart Wallet Proliferation: Coinbase’s native smart wallets allow millions of mainstream users to interact with applications smoothly using passkeys.
• DeFi Capital Concentration: Base remains the most profitable execution environment for decentralized applications on Ethereum.
• Growth Target: For investors tracking this ecosystem, native building blocks within the L2 layer present clear asymmetric upside, with core ecosystem application tokens targeting a 3x to 5x growth multiple over the summer trading cycle.

Altcoin Market Allocation Comparison

To help visualize how to diversify into these sectors, investors can analyze how these top projects balance different market opportunities:

Summary: Building a Strategic Crypto Portfolio for June 2026

Success in the current crypto market requires a clear shift away from speculative assets toward platforms that generate verifiable economic value. Allocating capital across dominant Layer-1 chains like Solana, decentralized AI frameworks like Bittensor, and institutional infrastructure like Ondo Finance provides balanced exposure to the most resilient narratives of this market cycle.

The boundary between traditional payment networks and decentralized infrastructure is dissolving. Global payment leaders Visa, Mastercard, and Stripe are in advanced stages of launching a collaborative, institutional-grade stablecoin platform.

The joint initiative aims to standardize digital currency routing across legacy financial systems and capture the rapidly expanding market share of programmable, dollar-pegged digital assets.

The Push for Native Onchain Settlement

The cooperative project signals a collective strategic pivot. Stablecoin networks processed an unprecedented $33 trillion in total transaction volume last year, pushing past the cumulative settlement figures of standard credit card processors. Rather than competing against decentralized protocols externally, the payments triumvirate is building a native layer to absorb and route these token flows directly through their own ledgers.

The platform's primary utility centers on institutional settlement, business-to-business (B2B) cross-border routing, and programmatic liquidity provisioning. According to industry insiders, top-tier U.S. cryptocurrency exchange Coinbase is also positioned to participate in the joint launch, adding a deep consumer liquidity foundation to the network.

Integrating Bridge Infrastructure for Merchant Scale

The move leverages major corporate infrastructure plays executed recently. Stripe’s ongoing integration of its $1.1 billion acquisition, Bridge—a leading stablecoin orchestration network—supplies the technological backbone for the system. Concurrently, Visa has expanded its pilot programs with Bridge to enable programmatic, stablecoin-backed card issuance across 18 countries, targeting growth to over 100 countries.

The architecture addresses three core corporate payment bottlenecks:

• Instant Currency Authorization: Automated conversion mechanisms that allow digital asset balances to clear instantly at terminal points-of-sale without price slippage.
• Direct Acquiring Settling: Enabling international merchants to receive business revenues directly in major fiat-backed tokens like USDC or EURC, completely bypassing traditional banking intermediaries.
• Low-Cost B2B Remittances: Providing international supply chains with cross-border rails that cut standard transaction fees from the standard 1.5% to 3% down to sub-0.1% levels.

By pooling their technical reach, the participants create an insulated payment system that prevents capital flight from legacy banking systems toward entirely non-intermediated, decentralized payment architectures.

The digital asset market is experiencing heavy selling pressure today. The total cryptocurrency market capitalization has fallen to $2.29 trillion, marking a significant 8.7% decline over the past week.

As liquidations mount across major exchanges, traders are assessing whether this downward trajectory is a temporary correction or the start of a prolonged bearish phase.

Why is the Crypto Market Crashing Today?

The current market downturn stems from a combination of macroeconomic data releases, shifting monetary policy expectations, and heavy derivatives liquidations.

1. Macroeconomic Pressures and Interest Rate Outlook

Risk assets, including cryptocurrencies, are reacting to recent economic data indicating sticky inflation. This has led market participants to price in a "higher-for-longer" interest rate environment by global central banks. When interest rates remain elevated, capital typically rotates out of speculative assets like cryptocurrencies and into yields guaranteed by government bonds.

2. Cascading Derivatives Liquidations

The breach of key technical support levels for Bitcoin triggered an automated wave of long liquidations. According to data tracking platforms like Coinglass, hundreds of millions of dollars in leveraged bullish positions were wiped out within a 24-hour window. This forced selling accelerated the downward momentum across all major altcoins.

3. Institutional Capital Outflows

Data from institutional fund managers reveals a slowdown in net inflows into spot Bitcoin and Ethereum ETFs. A multi-day streak of net outflows indicates that institutional appetite has cooled off temporarily, reducing the baseline buying pressure required to sustain higher price levels.

Top Cryptocurrencies Price Analysis

Large-cap digital assets are flashing red, with layer-1 protocols suffering the sharpest intraday losses.

Bitcoin (BTC) Price Update

$Bitcoin is currently trading at $66,600, reflecting a 3% drop over the last 24 hours. BTC failed to sustain its position above the $68,000 psychological threshold. The immediate horizontal support now sits at $65,000. If buyers fail to defend this zone, a deeper retest of the $62,000 macro level is likely.

Ethereum (ETH) Price Update

$Ethereum has underperformed Bitcoin today, dropping 5% in the last 24 hours to trade at $1,880. The asset has broken below its short-term moving averages. Analysts monitor the $1,800 support level closely, as breaking below it could invalidate the current medium-term bullish structure.

Solana (SOL) Price Update

$Solana has matched Ethereum's downside, falling 5% over the past 24 hours to sit at $75.00. Despite strong network activity, SOL remains highly sensitive to broader market liquidity drains. Resistance is now firmly established at $82.00, while structural support rests near $70.00.

Ripple (XRP) Price Update

$XRP has shown relative resilience compared to its peers, down just 1.5% in the last 24 hours to trade at $1.23. Ongoing regulatory developments and liquidity patterns unique to the asset have decoupled its short-term price action slightly from the broader market dump, though it remains capped by overhead resistance at $1.30.

Market Outlook

The crypto market structure is currently undergoing a leverage flush. While the immediate intraday trend remains bearish, historical data shows that corrections of 10% to 15% are common structural occurrences during broader market cycles. Market participants are advised to monitor institutional fund flows and upcoming regulatory announcements, which can be tracked on major financial networks like Bloomberg.

Bitcoin has dropped 17% in four days, sparking $4.5 billion in liquidations, as analysts warn of a potential move below $60,000.

Bitcoin falls to $62k and Arthur Hayes selling his HYPE and NEAR position leads to double digit fallout for recent alt darlings.

The Treasury chief told senators the administration is using “best practices” in implementing Trump's Bitcoin reserve order.

Elon Musk's aerospace company SpaceX is set to IPO, with current estimations making him the world's first trillionaire on its completion.

The offering would tie fixed cash dividends to a staking-heavy ETH treasury model as Strategy’s preferred stock remains under pressure.

This mirrors a similar trend in the past month, drawing attention.

Strategy has suffered losses of over $7 billion as about 74% of its total Bitcoin holdings are currently held at a loss with Bitcoin sliding below $65,000.

Schwartz defends XRP's $1.14 slide, ADA hits 5-year low as Hoskinson steps away, and Coinbase SpaceX futures signal AI drain.

Shiba Inu might stabilize sooner than anticipated as pressure from SHIB on exchanges is descending.

Bitcoin current price action suggests unusually strong sell pressure despite Satoshi-Sized BTC stack being absorbed in the market.

Key Takeaways

• CleanSpark (CLSK) shares dropped 5.11% to $16.71 on Thursday as Bitcoin retreated below the $73,000 level
• The company reported a Q2 2026 net loss of $378.3 million, primarily attributed to non-cash Bitcoin valuation adjustments
• Mining output reached 671 BTC in May, pushing the calendar-year 2026 total to 3,110 BTC
• Current operational capacity stands at 50.0 EH/s with 224,473 active miners; total Bitcoin holdings reach 13,470 BTC
• Technical indicators remain constructive with CLSK trading 32.6% above its 200-day moving average

Shares of CleanSpark (CLSK) declined 5.11% to $16.71 during Thursday’s morning session, pressured by both declining Bitcoin prices and disappointing second-quarter financial results.

CleanSpark, Inc., CLSK

Bitcoin’s retreat below the $73,000 threshold weighed on cryptocurrency-related equities across the board. For CleanSpark specifically, this price movement carries significant weight given the company’s direct exposure to Bitcoin’s market performance.

The second-quarter fiscal 2026 earnings release compounded the selling pressure. CleanSpark disclosed a net loss of $378.3 million for the period, substantially exceeding analyst projections. While the bulk of this deficit stemmed from non-cash impairment charges related to Bitcoin asset valuations rather than core business deterioration, the magnitude of the loss nonetheless spooked market participants.

Quarterly revenue totaled $136.4 million, falling short of the $145.4 million consensus forecast. Earnings per share registered a $1.52 loss compared to analyst expectations of a $0.50 gain. The company’s gross margin maintained a level above 40%, representing the strongest element in an otherwise disappointing financial release.

From an operational standpoint, CleanSpark’s May performance metrics painted a more positive picture. The firm produced 671 BTC during the month, elevating its year-to-date 2026 mining total to 3,110 BTC.

The company’s current mining infrastructure comprises 224,473 operational units generating a combined hashrate of 50.0 EH/s—positioning CleanSpark among the most substantial publicly traded Bitcoin mining operations in the United States.

Throughout May, CleanSpark liquidated 404 BTC at prevailing market rates and an additional 250 BTC via call option exercises, achieving an average realized price of $79,934 per coin. The company’s Bitcoin reserves totaled 13,470 BTC as of month-end on May 31.

Leadership Addition and Shareholder Activity

CleanSpark announced a significant personnel addition alongside its May operational update. The company brought aboard Ruben Sahota, whose background includes involvement in $20 billion worth of transaction activity, to spearhead multi-gigawatt expansion initiatives.

On the ownership front, institutional investor Situational Awareness dramatically expanded its CleanSpark position from $16.6 million to $104.5 million, increasing its portfolio allocation from 0.3% to 0.76%. Such concentrated buying activity from a single institutional holder can catalyze additional investment interest—though it simultaneously introduces vulnerability should sentiment shift and trigger position liquidation.

The hedge fund’s CleanSpark holdings expanded from 1.64 million shares to 12.28 million shares between year-end 2025 and the latest regulatory disclosure period.

Chart Analysis Remains Constructive

Despite Thursday’s decline, CLSK’s technical structure hasn’t deteriorated significantly. The equity currently trades 7.8% above its 20-day simple moving average of $15.58 and maintains a 32.6% premium to its 200-day simple moving average at $12.67.

A golden cross formation—characterized by the 50-day moving average crossing above the 200-day—materialized in June and persists, a configuration that technical analysts typically interpret as supportive of further upside.

The MACD indicator remains positioned above its signal line with a positive histogram reading, implying that recent selling momentum has moderated relative to the prior downward movement.

Critical support exists at the $16.00 level, a nearby technical reference point that becomes increasingly important should additional selling emerge during the trading session.

On a year-to-date basis, CLSK has advanced 74.01% despite Thursday’s weakness.

The post CleanSpark (CLSK) Stock Drops 5% Following Q2 Loss and Bitcoin Pullback appeared first on Blockonomi.

Key Highlights

• Palantir stock advances following comprehensive Google Cloud partnership announcement.

• Integration connects Foundry, AIP, BigQuery, Gemini, and Ontology platforms.

• Partnership includes Google Cloud Marketplace listing to expand customer base.

• Eaton demonstrates real-world application using combined Palantir-Gemini capabilities.

• Stock maintains positive trajectory despite slight retreat from session peaks.

Shares of Palantir Technologies Inc. (PLTR) advanced in early trading following the company’s announcement of an extensive collaboration with Google Cloud. The stock reached $144.26, marking a 1.45% increase, though it retreated somewhat from its session high around $147. This strategic alliance broadens Palantir’s cloud infrastructure footprint and reinforces its standing in the enterprise artificial intelligence market.

Palantir Technologies Inc., PLTR

Strategic Alliance Broadens Market Access for Palantir

Palantir revealed that the collaboration will deliver premium integrations throughout Google Cloud’s ecosystem while establishing availability through Google Cloud Marketplace. This strategic approach provides both current and prospective clients with streamlined access to Palantir’s solutions via a prominent cloud distribution channel. Furthermore, the marketplace presence could accelerate enterprise adoption particularly within regulated industries and data-intensive sectors.

The collaboration emphasizes enhanced connections among BigQuery, Foundry, Google Knowledge Catalog, and Palantir’s Ontology system. Palantir intends to establish bidirectional data federation capabilities between BigQuery and Foundry for organizations utilizing both technologies. Additionally, the companies will enable semantic data exchange linking Google’s Knowledge Catalog with Foundry’s Ontology framework.

These technical integrations are designed to minimize data transfer requirements while enhancing access to operational intelligence across enterprise organizations. Moreover, clients can seamlessly connect Google Cloud data infrastructure with Palantir’s AI operational framework. The combined architecture is anticipated to enable accelerated decision-making and enhanced execution capabilities throughout intricate business processes.

Gemini-AIP Connection Enhances Enterprise AI Capabilities

The partnership additionally establishes stronger integration between Gemini and Palantir AIP specifically for enterprise artificial intelligence applications. This connection enables organizations to deploy sophisticated AI models within Palantir-managed operational environments. As a result, enterprises can implement AI solutions directly into activities spanning planning, manufacturing, engineering, and customer service operations.

Eaton exemplifies practical implementation of this partnership in production environments. The organization leverages Palantir Foundry, AIP, Ontology, and Gemini to convert engineering documentation into actionable operational resources. Through this approach, Eaton achieves improvements in quotation processes, engineering precision, operational velocity, and customer engagement.

Palantir has established its market position through data integration solutions, government defense contracts, commercial analytics platforms, and operational AI frameworks. Google Cloud contributes significant scale via BigQuery, cloud storage infrastructure, marketplace distribution, and model serving capabilities. The combined partnership delivers enterprise customers an integrated technology stack encompassing data management, artificial intelligence, and operational execution.

The stock’s price movement demonstrated positive market reception to the Google Cloud partnership news. PLTR advanced 1.45% to reach $144.26, though the decline from $147 indicated some profit-taking during the session. Nevertheless, this agreement provides another significant enterprise AI growth driver for Palantir as cloud partnerships increasingly influence enterprise software purchasing decisions.

The post Palantir (PLTR) Stock Climbs on Expanded Google Cloud AI Partnership appeared first on Blockonomi.

Key Highlights

• Amazon introduced an advanced iteration of its Proteus AI warehouse robot featuring voice command capabilities and full autonomous navigation
• European warehouses will receive the enhanced Proteus system during the first six months of 2027
• The e-commerce giant plans to allocate €10 billion ($11.6 billion) toward expanding its European logistics infrastructure
• The STARK automated tote system is slated for implementation across 15 European facilities by 2027; Vulcan represents Amazon’s inaugural tactile-sensing robotic technology
• AMZN shares increased by 0.85% during trading; 46 Wall Street professionals assign it a Strong Buy designation with a consensus price projection of $319.14

During its “Delivering the Future” showcase held Thursday in Dartford, England, Amazon presented an evolved version of its Proteus warehouse automation system. The company’s stock experienced a 0.85% uptick during the session.

This latest iteration represents a significant advancement over the existing model, which currently operates exclusively in loading dock zones across 25 American facilities, transporting carts weighing up to 400 kilograms. The newly developed version possesses the capability to traverse complete warehouse environments without restriction.

Amazon.com, Inc., AMZN

The most notable enhancement involves human-robot communication. Rather than requiring detailed programming for each task, warehouse personnel can now issue verbal instructions directly to the robot, which then executes the assignment independently.

“You tell it what needs to be done. It figures out the priority, the route, the timing,” said Scott Dresser, VP of Amazon Robotics.

This innovation forms part of Amazon’s extensive €10 billion commitment to its European logistics operations, representing one of the most substantial infrastructure investments the corporation has undertaken across the continent.

Additional Robotic Systems Deployed

Beyond Proteus, Amazon revealed two complementary automation platforms. STARK, a tote-management robot initially tested in Barcelona, is scheduled for deployment at 15 European locations before 2027 concludes. Vulcan marks Amazon’s pioneering venture into touch-sensitive robotics, engineered specifically for handling delicate merchandise requiring precision.

The enhanced Proteus platform is expected to debut in European operations during early 2027.

The retail giant also disclosed intentions to establish over 25 ultra-rapid delivery hubs throughout Europe this year, with primary focus on Britain and Germany. Amazon Now, the company’s express essentials delivery program, will extend service to Manchester and Birmingham.

Same-day grocery delivery capabilities are currently operational in more than 2,300 American municipalities and select Tokyo neighborhoods, with additional expansion scheduled for Japan, Britain, and additional territories.

Alexa+ Expansion and Infrastructure Investment

Amazon’s advanced AI assistant, Alexa+, is scheduled to launch in 10 more nations throughout 2027.

Regarding financial commitments, Amazon forecasted earlier this year that capital investments would surge beyond 50%, reaching $200 billion in 2025. This allocation encompasses AI infrastructure, warehouse robotics, and delivery network enhancement.

The Dartford presentation illustrated the practical implementation of these substantial financial commitments.

Currently, 46 Wall Street equity analysts maintain a Strong Buy recommendation for AMZN, comprised of 45 Buy ratings and three Hold assessments issued during the past three months.

The consensus 12-month price objective stands at $319.14, suggesting approximately 26% appreciation potential from present trading levels.

The post Amazon (AMZN) Stock Climbs on Voice-Controlled AI Warehouse Robot Reveal appeared first on Blockonomi.

TLDR

• Bitcoin ETFs recorded $4.4 billion in total outflows over 13 consecutive trading days.
• Daily withdrawals reached $396.6 million, extending the longest outflow streak on record.
• ETF holdings dropped by over 51,700 BTC, valued at nearly $5 billion.
• BlackRock’s IBIT led redemptions with about $3.3 billion in outflows.
• Fidelity and Grayscale also posted withdrawals of $456.6 million and $303.6 million.

Bitcoin ETFs recorded sustained investor withdrawals over recent sessions, pushing total outflows to about $4.4 billion. The selling streak extended to 13 trading days, while Bitcoin price declined during the same period. Fund data shows falling holdings and heavy redemptions across major issuers.

Bitcoin ETFs Outflows Extend to Historic Levels

US-listed Bitcoin ETFs logged $396.6 million in daily net outflows on Wednesday. This extended the withdrawal streak to 13 consecutive trading days.

The current run exceeded the previous record set in February 2025. During that period, funds lost around $3.2 billion across eight trading days.

Cumulative withdrawals have reached about $4.4 billion since May 15. At the same time, Bitcoin price dropped close to 20% to around $62,400.

Data shows ETF holdings declined by more than 51,700 BTC over one month. This reduction equals nearly $5 billion in value based on current prices.

BlackRock IBIT Leads Redemptions Across ETF Issuers

BlackRock’s iShares Bitcoin Trust recorded the largest share of outflows during the streak. The fund alone lost about $3.3 billion over 13 trading days.

This figure represents nearly three-quarters of total Bitcoin ETF withdrawals. Despite the selling, BlackRock still holds about 786,800 BTC under management.

Fidelity’s Wise Origin Bitcoin Fund reported about $456.6 million in redemptions. Meanwhile, Grayscale’s Bitcoin Trust ETF posted roughly $303.6 million in outflows.

Other ETF issuers also experienced steady withdrawals during the same period. However, their losses remained smaller compared to the top three providers.

Analysts Cite Mixed Drivers Behind ETF Sell-Off

Bloomberg ETF analyst Eric Balchunas questioned whether institutions caused the recent decline. He stated that large buyers have continued accumulating Bitcoin over longer periods. He said, “Major institutional players are still net buyers over time.” He suggested early holders may have driven the recent selling pressure.

Some analysts pointed to derivatives markets and leveraged positions as key drivers. They argued that liquidations in futures markets amplified Bitcoin’s price movement. On-chain data showed limited direct selling activity during the downturn. This pattern indicates that leverage rather than spot selling influenced volatility.

CryptoQuant founder Ki Young Ju described a broader shift in ownership trends. He stated that early adopters and miners are transferring holdings to institutional investors. He said this transition may create temporary selling pressure in markets.

However, it reflects a redistribution of supply toward long-term holders. The data shows ETF flows, derivatives activity, and ownership shifts continue shaping Bitcoin price action. Current figures confirm that ETF holdings declined alongside the recent withdrawal streak.

The post Bitcoin ETFs Lose $4.4B as Outflows Hit 13-Day Record Run appeared first on Blockonomi.

Key Highlights

• Project Solara represents Microsoft’s vision for AI-native hardware that operates through agents rather than conventional applications
• The new Surface RTX Spark Dev Box, built with Nvidia technology, supports local execution of 120-billion parameter AI models
• MAI Thinking-1, Microsoft’s latest reasoning model, delivers performance comparable to Anthropic’s Claude Opus 4.6
• Microsoft AI CEO Mustafa Suleyman criticized Anthropic’s pricing structure and announced plans to reduce Microsoft’s reliance on the company
• A strategic partnership with Mayo Clinic will focus on developing advanced healthcare AI solutions

During its Build developer conference in San Francisco on June 2, Microsoft presented an ambitious vision for transitioning computing from app-based systems to agent-driven experiences.

Microsoft Corporation, MSFT

CEO Satya Nadella, alongside senior leadership, outlined Microsoft’s plan to expand control across the entire AI technology stack—spanning hardware development to model creation—amid intensifying rivalry with OpenAI and Anthropic.

Microsoft stock (MSFT) is listed on the Nasdaq exchange. While the company hasn’t tied specific stock price targets to the conference, the announcements signal a fundamental transformation in Microsoft’s product development and artificial intelligence approach.

The Project Solara initiative encompasses a series of experimental devices spanning multiple form factors, from smart speaker-sized units to badge-style devices. Utilizing processors from Qualcomm and MediaTek, these products bypass conventional operating systems completely, instead operating exclusively through AI agents.

Nadella positioned this as an opportunity to fundamentally “rewrite the rules” governing platform development, offering developers and business users unprecedented freedom to create agent-centric hardware solutions.

Surface RTX Spark Dev Box Unveiled

In the personal computing segment, Microsoft introduced the Surface RTX Spark Dev Box, equipped with Nvidia’s RTX Spark processor. Nadella described it as his “dream machine” and revealed he had personally joined the waiting list.

This system successfully executed a 120-billion parameter AI model entirely on-device—a capability beyond most existing personal computers. Microsoft simultaneously launched a collaborative laptop with Nvidia this week, directly challenging Apple’s dominance in the premium computer segment.

Industry analysts suggested that widespread enterprise adoption of these advanced systems may require considerable time.

Microsoft additionally announced efforts to adapt OpenClaw—open-source technology for coordinating multiple AI agents—for secure enterprise deployment on Windows platforms. This software has already contributed to increased Mac computer sales for Apple in the Chinese market.

MAI Thinking-1 Launch and Direct Anthropic Competition

Microsoft’s artificial intelligence division introduced MAI Thinking-1, the company’s inaugural in-house reasoning model, which Microsoft claims achieves parity with Anthropic’s Claude Opus 4.6. Anthropic has subsequently launched Opus 4.8.

This model forms part of Microsoft’s strategic effort to develop cutting-edge AI capabilities independently of OpenAI, despite years of financial backing. A restructured partnership agreement finalized in April granted Suleyman’s division autonomy to pursue proprietary model development.

AI division leader Mustafa Suleyman spoke candidly about competitive dynamics in a Bloomberg interview: “Anthropic is extremely expensive, and I think many people are urgently looking for alternatives.”

He continued: “We pay a lot of money to Anthropic — so our goal is to reduce and ultimately eliminate that cost.”

Microsoft positioned its latest coding model as delivering equivalent performance to Anthropic’s Opus 4.6 while offering superior cost efficiency—identifying pricing as a crucial competitive differentiator.

Appian CEO Matt Calkins provided broader market context: “We are in the era of subsidies for AI. When OpenAI and Anthropic go public, these prices will probably increase substantially.”

Anthropic submitted its IPO prospectus confidentially to the Securities and Exchange Commission this week. OpenAI is anticipated to follow with its own filing in the near term.

Regarding healthcare initiatives, Microsoft revealed a collaboration with Mayo Clinic focused on building frontier healthcare artificial intelligence, merging Microsoft’s computational and reasoning infrastructure with Mayo’s extensive clinical datasets.

The post Microsoft (MSFT) Stock Climbs Following Build 2026 Conference Announcements appeared first on Blockonomi.

Bitcoin is currently knocking on the door that helped it bounce during the February crash at $60,000. The asset dumped toward $61,000 earlier today, which was hard to imagine just a few weeks ago when it traded above $82,000.

So, what could have prompted this massive 25% crash in well less than a month?

Investor Exodus

In general, falling prices require somebody selling, right? And it has to be in large quantities. The first that comes to mind are investors who had BTC exposure through the spot Bitcoin ETFs in the US. A simple look at the data provided from SoSoValue paints a clear and painful picture.

The funds have been deep in the red for 13 consecutive days, with the net outflows exceeding $500 million, $600 million, and even $700 million on some occasions. The net withdrawals have been in the billions of dollars for four straight weeks. The current one, even though the data is presented only until Wednesday, is on track to break the record, with already $1.4 billion in outflows.

This behavior is in stark contrast to the developments that took place by mid-May, when investors were rushing to pour funds into the ETFs.

But, it’s not just ETF investors. Data shared by Ali Martinez shows a substantial uptick in the number of BTC sent to exchanges over the past week alone. Roughly 54,000 BTC (valued at $3.35 billion at today’s prices and at almost $3.8 billion when the transfers began) found their way to trading platforms, with the likely intention to be sold off.

54,000 Bitcoin bitcoin:native moved onto trading platforms over the past week. This spike in available supply of roughly $3.78 billion has increased short-term selling pressure, driving the price down to $65,300. https://t.co/AXEpKJPyND pic.twitter.com/pa5WPZXzUt

— Ali Charts (@alicharts) June 3, 2026

Strategy also sold. Yes, this one was speculated for weeks, but the actual confirmation could have been the necessary trigger for some investors to lose hope. Although the company disposed of a tiny portion of its massive BTC stash, the move was still categorized as bearish by many critics.

Mt. Gox also spread some FUD into the already fragile market, as on-chain data shows new BTC transfers to exchanges completed recently.

Iran-US and AI

A more macro reason came from the war front between the US and Iran (and several nearby nations). After weeks of a ceasefire but unsuccessful permanent peace negotiations, the US and Iran reinitiated the attacks against each other, which now involve Kuwait and other countries in the region as well.

History shows that risk-on assets like BTC do not react well to escalating war tensions. Recall that the asset dumped by several grand immediately after the initial strikes began in late February.

Lastly, Michael Saylor outlined the massive growth and hype of the artificial intelligence sector. He believes there’s a clear correlation between investor exodus from crypto and booming AI prices, which continues to harm the former’s progress. Nevertheless, he actually noted that such moments present opportunities.

Capital markets are funding the AI buildout at historic scale: ~$400B over 6 months. Bitcoin ETFs have seen ~$4B of outflows since May 14, pressuring $BTC. This is a capital rotation, not a Bitcoin impairment. Volatility creates opportunity.

— Michael Saylor (@saylor) June 4, 2026

So, What’s Next?

As usual, most crypto analysts are split on what could be around the corner for BTC. Some think a rebound is in the making, while others outlined lower price targets. Ali Martinez stands in the second corner. Basing his analysis on the MVRV pricing bands, he predicted that BTC could be on its way down to $55,000 or even $50,000. It’s worth noting that the cryptocurrency hasn’t traded at such low levels for almost two years.

CryptoQuant’s CEO, though, noted that there’s one major difference between bitcoin’s current state and that of two years ago. Although the price is relatively similar, he noted that short-term holders are “evolving into long-term holders” now, as the percentage of holdings from investors who had bought from 6 months to 2 years ago is up to 53% from 15% back in 2024.

Bitcoin is at the same price as two years ago, but one thing is different.

The 6m–2y cohort, who joined this cycle, now holds 53% of realized cap, up from 15% two years ago. Last cycle, Bitcoin bottomed when this hit 68%.

Short-term holders are evolving into long-term holders. pic.twitter.com/tfmLz3mFPS

— Ki Young Ju (@ki_young_ju) June 4, 2026

The post Bitcoin’s $20K Collapse: 6 Reasons Behind the Crash and What Happens Next? appeared first on CryptoPotato.

The largest cryptocurrency by market capitalization has been nosediving lately, with its price posting another substantial decline over the past 24 hours.

Multiple analysts believe the valuation could reach new lows in the near future, while one key indicator suggests a rebound could be on the horizon.

How Much Lower?

There’s no way to soften what’s been happening to BTC lately. Its price has lost over $20,000 in the past month alone, and several hours ago it dipped to nearly $61,000, the lowest point since early February. The reasons behind this carnage are many and various: Strategy’s historic decision to sell some Bitcoin, the escalating conflict in the Middle East, the massive outflows from spot ETFs, and the bear market reigning across the broader crypto market.

Currently, the asset trades at around $62,500, which is a slight comeback, but according to numerous industry participants, the worst is yet to come.

Ali Martinez recently claimed that the plunge below $72,000 has put BTC in “a vulnerable position.” He said that, based on the MVRV Pricing Bands, the next major support is between $50,000 and $54,000.

For his part, X user Ted argued that BTC’s “head-and-shoulders” breakdown target is still not complete. He described $49,000 as “a good bottom zone,” drawing parallels to the August 2024 low.

Somewhat expected, the major collapse of BTC’s price gave Peter Schiff the opportunity to make a highly pessimistic prediction. The well-known crypto critic and outspoken proponent of gold forecasted that the valuation could nosedive to $20,000 if it breaks $50,000.

“It should be a quick fall below $20K, which should be a big enough drop to shake the conviction of long-term HODLers, causing many to finally throw in the towel,” he added.

Light at the End of the Tunnel?

Contrary to the bloodbath and the predictions of a further collapse ahead, BTC’s Relative Strength Index (RSI) suggests it might be time for a resurgence. The technical analysis tool is often used by traders to spot potential price reversal points, as it indicates whether the asset is oversold or overbought.

It runs from 0 to 100, and anything below 30 indicates that the price has fallen too much in a short period of time and could be due for a comeback. On the other hand, readings above 70 signal that a pullback might be on the horizon. Just a few hours ago, the RSI dropped to 11, its lowest level in four months, and has since risen to approximately 16.

The post Top Bitcoin Price Predictions After BTC’s 15% Weekly Collapse appeared first on CryptoPotato.

SimpleSwap is a self-custodial multi-source swap aggregator that pulls liquidity from well-known CEX and DEX sources under the hood. It is designed for direct wallet-to-wallet exchanges. Rather than holding your assets on a platform balance, the service lets you choose a crypto pair, enter a receiving wallet address, send the deposit, and receive the output asset directly in your wallet.

No manual comparison of exchanges, bridges, or swap routes needed. Routing happens under the hood across 20+ liquidity providers — you get the best available path without having to build it yourself.

SimpleSwap is most useful for straightforward crypto-to-crypto swaps, especially when you want to avoid holding funds on a centralized exchange. Of course, you can also use it to access assets that are not available or convenient to trade through your usual CEX or wallet swap tool.

Summarized briefly, some of the main points are:

• SimpleSwap supports wallet-to-wallet crypto swaps.
• Users do not need to keep a platform balance to make an exchange.
• The service aggregates liquidity from 20+ providers across CEX and DEX sources.
• Both fixed-rate and floating-rate swaps are available.
• The platform is very easy to use, rather than an order-book exchange.

Overall, the platform is well-suited to users who want a direct exchange flow, a large selection of assets, and fewer account-related steps. On the other hand, if you are looking for advanced trading tools, charting capabilities, limit orders (or more complicated order types), you might be better off with a full exchange environment.

SimpleSwap has been on the market for 8+ years, with 10M+ users. It supports 2,800+ swappable assets and aggregates liquidity from 20+ providers across CEX and DEX sources. The service is also used as a business solution by 6,000+ projects, including Exodus and Tangem.

What SimpleSwap Is

SimpleSwap is a self-custodial swap aggregator, not a custodial exchange. There is no long-term account balance to fund. Each transaction is a standalone swap: you send one asset from your wallet, and the converted asset is delivered to the receiving address you specify. No platform balance between swaps.

As you may have noticed, this is a structure that differs considerably from a centralized exchange. On a CEX, you have to deposit funds, trade within the platform interface, and withdraw later. With SimpleSwap, the exchange process is built around a single transaction flow rather than an internal trading account.

It supports a very wide range of cryptocurrency assets and uses multiple liquidity providers. SimpleSwap’s job is to find and execute a swap route in the background with the best rates.

The exchange supports two main rate types:

• Floating rate: the final amount received may vary based on market conditions and execution timing.
• Fixed rate: the rate is locked for a limited time, provided the user sends the correct amount within the required window and follows the transaction instructions.

Naturally, there are features beyond basic exchange flow. These include customer support, account-based loyalty benefits, business tools, integrations, exchange tracking, and more.

Is SimpleSwap Safe? How it Works

Yes, SimpleSwap is safe and legit – there have been no reports indicating otherwise, and the exchange has been on the market for more than 8 years, servicing over 10 million people with 99.9% uptime.  The exchange flow is equally straightforward. Here is how it works:

• Select the asset to send and the asset to receive.
• Choose the amount.
• Select a floating or fixed rate, where available.
• Enter the receiving wallet address.
• Confirm the exchange details.
• Send the deposit to the address provided by SimpleSwap.
• Track the exchange status until the output transaction is completed.

That’s it. The structure makes the platform very easy to use for standard crypto-to-crypto exchanges. There is no order book to manage, and there is no need to set market or limit orders. Of course, if these are features that you are looking for, it might be a good idea to explore a conventional CEX.

The most important step is to enter the receiving address correctly. Because SimpleSwap sends the exchanged asset to the address you provide in this step, entering an incorrect one can result in a loss of funds. The same applies to network selection.

The flow, as simple as it may be, still hides some risks, so just as with anything else involving sending and receiving cryptocurrency, you have to be very careful.

Supported Coins, Pairs, and Liquidity

One of the main practical uses of SimpleSwap is in its asset coverage and liquidity aggregation. As mentioned in the introduction, the service supports 2,800+ swappable assets and aggregates liquidity from 20+ providers across CEX and DEX sources, unlocking 3.2M+ trading pairs through a single interface.

Some of the supported coins include, but are not limited to:

• Bitcoin
• Ethereum
• Ripple
• Solana
• Monero
• Dogecoin
• Stablecoins, and more.

Rather than sourcing liquidity only from a single internal market, the platform does it through multiple providers, which allows the service to search for available rates and execute swaps at the best prices.

Of course, as it is with centralized exchanges, liquidity can vary by asset and market conditions. A swap between two major assets, such as BTC and USDT, or ETH and BTC, is usually more straightforward and executed at very convenient rates. However, if you are swapping a niche cryptocurrency for another niche cryptocurrency, this might mean a wider difference between the quoted and the final amount, longer time to process, and so forth – more or less like what happens on a thin order book.

For most floating swaps, estimation accuracy reaches 99.998%, which signals strong execution consistency.

Fees, Rates, and Swap Types

SimpleSwap doesn’t position itself as an order book exchange. Therefore, it doesn’t have fixed maker and taker fees for trading. Instead, the cost of using the service is reflected in the quoted exchange amount, along with the network fees involved in sending and receiving crypto.

I will break down the factors before you commit to a swap. These include:

• The quoted amount of the asset being received.
• The rate type: fixed or floating.
• The network fee for sending the deposit.
• Any blockchain fee is included in the outgoing transaction.
• The minimum and the maximum amount for the selected pair.
• The time limit for sending the deposit is especially important for fixed-rate swaps.

As you already know, SimpleSwap offers two main swap types: fixed-rate and floating-rate.

With a floating-rate swap, the final amount can change during processing. This is because the market rate may move significantly between when the quote is shown and when the swap is executed. Floating rates may be suitable for those of you who accept that the final amount can vary. Of course, they are much less predictable during periods of serious volatility.

With a fixed-rate swap, the rate is locked for a limited time. This gives you greater certainty about the expected amount, but only if you follow the conditions of the exchange. The deposit must match the required amount and arrive within the specified window.

Now, it’s very important to note that neither option is automatically better in every single case. A floating rate may result in a higher or lower final amount depending on market movements. A fixed rate, on the other hand, gives you more certainty but may include a different quoted amount (smaller) because the provider takes on price movement risk for the period of the swap.

Custody, Privacy, and KYC

With SimpleSwap, users don’t have to maintain an ongoing balance. At no point does the exchange take custody of your funds. This reduces the need to leave assets on an exchange after the transaction is complete, and gives you full control of your crypto.

The model reduces risks tied to centralized exchange balances. Because there’s no platform-side balance, your funds never sit on SimpleSwap between swaps.

Most standard crypto-to-crypto swaps can be completed without creating an account.

From a privacy perspective, SimpleSwap collects a lot less account-level information compared to a centralized exchange during a normal swap. Of course, you still need to keep in mind that these are on-chain transactions and that you must provide a wallet address as part of the transaction.

The main takeaway here is that SimpleSwap offers a lighter account setup than traditional CEX exchanges, but it remains within the compliance environment that applies to crypto services.

Pros and Cons of SimpleSwap

Here is the honest breakdown of where the SimpleSwap crypto exchange stands out and where it falls short.

In my usage of the platform, I isolated the following benefits:

• No standard account setup is needed for basic swaps.
• Funds are not held in a long-term exchange balance.
• The platform supports virtually all assets that I wanted to swap.
• The exchange process is quick and simple.
• Fixed and floating rates offer some flexibility.
• Each exchange has a tracking and an exchange ID.
• It can be very useful for pairs that are otherwise unavailable at standard CEXs.
• Loyalty program (up to 20% discount, up to 0.4% USDT cashback)
• Integration with more than 6,000 partners (Exodus, Tangem, etc)

The drawbacks that I can think of include:

• The final rate may not always be better than competing services.
• Floating-rate swaps can result in a different received amount.
• You don’t get full control over routing or execution venue.
• There is a risk associated with inputting receiving addresses.

Who SimpleSwap is Best For

SimpleSwap is best for those of you who want to exchange crypto directly between wallets without using a full trading account. It suits people who value a simple swap flow, the option to choose between fixed and floating rates, and broad crypto support. It can also work well for users who need access to assets or pairs that are not that convenient on traditional CEX platforms.

Who SimpleSwap is Not Best For

High-frequency and professional traders are hands down better off with a more expert interface. Those of you who need limit orders, charting tools, or precise execution controls should probably consider a more sophisticated environment.

Verdict: Is SimpleSwap Legit in 2026?

Yes, SimpleSwap is legit. It is a self-custodial multi-source swap aggregator that has operated continuously since 2018, processed 20M+ swaps, and is integrated into products used by millions. For wallet-to-wallet crypto swaps where control, privacy, and speed matter, the exchange works very well.

Its main use case is obviously straightforward: choose a pair, enter a receiving address, send the deposit, and wait for the exchanged crypto to arrive.

The service is most useful for those of you who want access to many coins without maintaining balances across multiple exchanges. The fixed-rate and floating-rate options also give users some flexibility, but that depends on whether they prefer price certainty or are willing to accept market movements

Overall, this SimpleSwap review finds the service works best as a wallet-to-wallet swap aggregator for users who want broad asset access without giving up self-custody. There are no credible SimpleSwap scam signals against the platform: 8+ years on the market, 10M+ users over time, and 6,000+ partner integrations support a legit track record across cycles.

The post Is SimpleSwap Legit in 2026? A SimpleSwap Crypto Exchange Review appeared first on CryptoPotato.

The BitMEX co-founder said on X that he had dumped all of his HYPE and NEAR, adding that he would be posting an essay explaining his decision, titled “Reality Test.”

He pointed to a few different reasons for becoming more cautious with his positions. These included higher energy prices due to the war in Iran, companies rebuilding their inventories, upcoming AI IPOs, and the possibility that President Donald Trump could turn against the AI sector before the midterm elections.

In simple terms, Hayes appears to warn that the market might be approaching a local top between now and September.

I just dumped my entire $HYPE and $NEAR position, I will explain why in my essay “Reality Test” dropping next Tuesday.

TLDR:
– Higher energy prices due to Iran war and inventory restocking
– 3 Mega AI IPOs between now and early Q3
– Prediction that Trump goes anti-AI to win…

— Arthur Hayes (@CryptoHayes) June 4, 2026

HYPE Price Tanks

Hayes’ post came during a rough day for HYPE’s price. The cryptocurrency is trading at slightly above $65 at the time of this writing, down around 10% in the past 24 hours.

However, it’s worth noting that HYPE remains up about 16% for the week, making it the best performer among the top 10 cryptocurrencies by total market cap. In fact, it’s the only one charting an increase on the weekly chart.

The timing of his sale drew attention because he had recently been very positive on HYPE, suggesting that it could reach $150. That led traders to question whether he had changed his mind rather quickly or was just taking profits after a strong move. In any case, it’s far from the first time he does it.

Others are Buying

While Hayes has been “dumping,” others have been buying. Hyperliquid Strategies just announced that they have bought another 1.4 million HYPE, worth roughly $95 million, over the past 7 days. Their cash position fell by $15.5 million.

The firm now holds about 23.7 million HYPE and about $141.7M in cash.

This also means that at current HYPE prices, their stock trades at 1.29x net asset value (NAV), which allows them to issue more ATM shares, sell them, and buy more HYPE.

The post Arthur Hayes Sells HYPE and NEAR After Recent Bullish Calls appeared first on CryptoPotato.

The state of the entire cryptocurrency market has been in shambles in the past several days, but some assets have taken this correction harder than others.

Pi Network’s PI token is among the poorest performers, as it dumped to a fresh all-time low of under $0.12 on some exchanges. The question is: what’s next?

PI Tanks to New ATL

PI’s previous all-time low came shortly after the early February market crash when BTC bottomed (for now) at $60,000. PI tanked to $0.1312 (CoinGecko data) but managed to rebound significantly in the following month. In fact, it soared to roughly $0.30 by March 13 (known as PiDay 2026) after a Kraken listing announcement.

The subsequent correction, though, has been even more profound and painful. PI quickly erased the mid-March gains and plunged below $0.20. It kept heading south and lost the $0.15 support earlier this week. It almost felt inevitable given the overall market state, and PI dumped beneath the February lows earlier today.

The chart below shows a quick wick to under $0.12, while CoinGecko shows that the new all-time low was at $0.1263. Despite the discrepancy, the reality is that PI marked a fresh low today as its market cap plummeted to under $1.260 billion. It’s now down to the 58th spot on this metric, a long way from the near top-10 place it held shortly after its launch last February.

What’s Next?

Many crypto commentators weighed in on the broader market’s crash and PI’s collapse. CryptoCoinPi, for instance, noted that this significant decline is a reason to panic for some people. However, they believe PI’s price is just a small portion of Pi Network’s overall ecosystem, and what matters now is whether it could “thrive” under these conditions.

Zerosignal added that this crash could provide a solid opportunity to buy-the-dip and prepare for the next bull run that could drive PI north again. On the other hand, PiHotNews said the path toward the $0.10 mark is now open to become PI’s new low. Nevertheless, they explained that they still have “absolute faith” in Pi Network despite the price crash.

The post Pi Network’s PI Hits Rock Bottom: Quick Rebound or Another Collapse Next? appeared first on CryptoPotato.