1. CEX Popular Cryptocurrencies
CEX Trading Volume Top 10 and 24-hour Price Change:
- BTC: -6.23%
- ETH: -6.77%
- SOL: -7.68%
- XRP: -5.02%
- BNB: -5.74%
- ZEC: +14.23%
- DOGE: -8.08%
- NEAR: +2.84%
- SUI: -6.71%
- XLM: -5.63%
24-hour Price Growth Ranking (Data Source: OKX):
- LIT: +21.04%
- ARG: +15.25%
- ZEC: +14.80%
- POR: +12.95%
- ONDO: +11.02%
- ZORA: +7.62%
- MENGO: +6.97%
- ICP: +6.52%
- CITY: +5.49%
- ENA: +4.35%
24-hour Stock Growth Ranking (Data Source: msx.com):
- MRVL: +45.38%
- SWMR: +35.96%
- COHX: +35.51%
- LITX: +27.08%
- AEHR: +21.76%
- SOXL: +19.18%
- PENG: +18.89%
- MSTZ: +18.2%
- COHR: +17.75%
- AAOX: +17.21%
2. On-chain Popular Meme Top 5 (Data Source: GMGN):
- WOK
- Apple Life
- Sigma
- DJT
- Crypto Life
Headlines
SpaceX Plans to IPO at $135 per Share Next Week, Valuation Reaches $1.75 Trillion
SpaceX plans to issue 555.6 million shares at a price of $135 per share, raising about $75 billion in its initial public offering (IPO), corresponding to a company valuation of approximately $1.75 trillion. According to insiders, SpaceX plans to conduct the IPO next week.
U.S. Sanctions Iranian Cryptocurrency Exchanges and Related Individuals
On June 2 local time, the U.S. Treasury Department's Office of Foreign Assets Control announced the update of the Specially Designated Nationals and Blocked Persons List, adding several Iranian cryptocurrency exchanges and related individuals to the sanctions list.
Trump Signs Executive Order to Promote Advanced AI Innovation and Security
The White House stated: U.S. President Trump signed an executive order to promote advanced AI innovation and security. Under this order, departments such as the National Security Council, the Department of Defense, and the Department of Homeland Security are required to prioritize the advancement of cybersecurity for relevant information systems within 30 days. The Treasury Department, Department of Defense, and Department of Homeland Security will develop a confidential benchmarking program within 60 days to evaluate the advanced cyber capabilities of AI models and establish criteria for classifying "protected frontier models." Additionally, the order explicitly states that no mandatory government licensing, pre-approval, or permit requirements will be authorized for the development, release, or distribution of new AI models. The Justice Department will also prioritize the enforcement of relevant federal criminal laws to combat the illegal access or destruction of computers using AI.
Musk May Become the World's First Trillionaire
Leverage Shares stated that if SpaceX eventually goes public with a valuation of $1.75 trillion to $2 trillion, Musk's approximately 43% shareholding could be valued at $752 billion to $860 billion. Combined with his holdings in Tesla and other companies, his total asset value may reach the trillion-dollar level.
Industry News
Grayscale Hyperliquid ETF to Start Trading Tomorrow
Grayscale has officially announced that the Grayscale Hyperliquid Staking ETF (HYPG) will begin trading tomorrow.
Data: Cryptocurrency Derivatives Trading Volume Drops to End-of-2023 Levels
Data shows that the total trading volume of cryptocurrency futures on major exchanges fell to a nearly 12-month low in May, with a monthly scale of about $2.9 trillion, returning to the low level since the end of 2023, significantly lower than the monthly peaks of $6 trillion to $7 trillion during the active period last year.
This drop reflects an overall cooling of speculative trading in the cryptocurrency market, with both spot trading volume and on-chain activity also remaining weak. Trading volume remains highly concentrated on a few leading platforms, with Binance continuing to dominate, followed by OKX, Bybit, and Gate; smaller trading platforms are losing liquidity more obviously in low activity cycles.
At the same time, the CFTC is pushing to pave the way for opening cryptocurrency perpetual contracts in the U.S. market. This could bring significant structural opportunities for perpetual contract products that have previously existed mainly in offshore markets.
CFTC Chair Seeks to Rescind $5 Million Settlement with Gemini
CFTC Chair Michael Selig stated that enforcement actions during the Biden administration are "politically targeting" the co-founder of the cryptocurrency exchange Gemini and that he is pushing to correct the handling of relevant cases.
Under Michael Selig’s leadership, the CFTC last week requested a federal court to rescind the agency's $5 million settlement with Gemini reached in January 2025. This settlement occurred before the Trump administration took over the commission.
Project News
Prediction Market Limitless: User Generated Market Feature Launched
The prediction market platform Limitless announced that the user-generated market feature is officially launched. Users can select an asset, choose a result, and start a market, with each creator earning a fee share from their market trading activities.
Coinbase Ventures stated that it has invested in Ethena by purchasing ENA tokens through the open market. Following the announcement, ENA has risen about 6% in the past 24 hours.
Ethena claims that both parties will collaborate to promote the development of on-chain financial and savings products. Coinbase also mentioned that the two will establish closer cooperation, involving Circle's stablecoin USDC.
Ethena founder Guy Young stated that Ethena's products will be integrated into Coinbase's user base of over 100 million next week to support its dollar savings products. The market is watching how the two will cooperate around USDC and Ethena's synthetic dollar USDe.
Investment and Financing
AI Startup Special Completes Funding Round, Led by a16z
AI startup Special announced the completion of a funding round, led by Andreessen Horowitz (a16z), with participation from Valor Equity Partners founder Antonio Gracias, former xAI CFO Anthony Armstrong, Steve Davis, Coinbase CEO Brian Armstrong, and Palantir Technologies CTO Shyam Sankar. The project, founded by Nate Cavanaugh and Justin Fox, aims to reduce costs by acquiring companies and utilizing AI.
Noble Mobile Acquires Cryptocurrency Wireless Operator Helium Mobile
CoinDesk reports that Andrew Yang's Noble Mobile has acquired cryptocurrency-driven wireless operator Helium Mobile, combining Noble's mobile services with Helium's blockchain-based wireless network.
Regulatory Trends
Clarity Act Listed on U.S. Senate Legislative Agenda, Next Major Procedure is a Full Senate Vote
Bitcoin News reports that the Clarity Act has been officially submitted by the U.S. Senate Banking Committee and placed on the Senate legislative agenda. The committee voted to advance the bill on May 14, and as of June 1, the relevant process has been completed, allowing the bill to be scheduled for consideration by the full Senate, with the next major procedure being a full Senate vote.
Voices of Figures
Bitwise CIO: Crypto Investments are Shifting from Momentum Trading to "Contrarian Bets"
Bitwise Chief Investment Officer Matt Hougan stated that as U.S. stocks continue to rise, AI stocks attract significant funds, and the regulatory outlook of the U.S. Clarity Act remains uncertain, crypto assets are shifting from past momentum trading to more long-term fundamental "contrarian bets."
Hougan pointed out that against the backdrop of the Nasdaq 100 index rising 43% year-on-year and AI concepts occupying market attention, the appeal of institutional investors allocating crypto assets has decreased. However, this does not mean the cryptocurrency industry is disappearing, but rather that the investment logic is changing, requiring a longer-term perspective and stronger fundamental judgment.
He also mentioned that the current "crypto winter" is different from the past, where funds are not simply flowing into large-cap assets like Bitcoin, but are beginning to reward projects with independent fundamental narratives. For instance, Hyperliquid, BNB, Zcash, and Stellar have recently seen significant increases, indicating that the market is placing more emphasis on the actual progress and differentiated logic of specific projects.
Goldman Sachs CEO: Greed in the Market Exceeds Fear
Goldman Sachs CEO Solomon stated that the prosperity of the stock market is driven by a desire for profits that surpasses concerns about economic turmoil and inflation risks. Solomon stated on Tuesday: "The current situation is that greed far exceeds fear, and funds are ample." Solomon also acknowledged that the rising risk of inflation may prompt the Federal Reserve to raise interest rates. He stated: "I believe inflationary pressures are real, and if inflationary pressures exceed expectations, I believe the Federal Reserve will take action."
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