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Citi has forecast that the tokenization market will grow to $5.5 trillion by 2030. According to CoinDesk, the bank's analysis suggests the market could range from $2.7 trillion to as high as $8.2 trillion, depending on the pace of adoption. Citi also expects that by 2030, 10% of the U.S. Treasury market and 3% of the U.S. stock market will be tokenized.

Analyst Doctor Profit has projected that Bitcoin will bottom out in the $40,000 to $50,000 range. Writing on X, he noted that he is still maintaining short positions entered at $120,000 and $80,500, and plans to hold them as long as BTC remains below $80,000. According to the analyst, the current market is not ready for chasing buys or discussing a bullish reversal. He described the market as fatigued from sideways movement, a typical precursor to a capitulation phase. Doctor Profit suggested that a drop below $60,000 would trigger the start of a full-scale capitulation. This could be amplified by selling from long-term holders, the collapse of an exchange or a major institution, or a black swan event, leading to widespread market fear. He anticipates the final bottom will occur between September and October of this year.

South Korean crypto exchange Bithumb has announced its support for the token swap and rebranding following the merger of Aergo (AERGO) and Alpha Quark (AQT). According to the announcement, deposits and withdrawals for AERGO and AQT will be suspended at 9:00 a.m. UTC on June 2. Trading for both coins will be halted at 2:00 a.m. UTC on June 9. Both assets will be rebranded to House Party Protocol (HPP). The swap ratios are set at 1 AERGO to 1 HPP and 1 AQT to 7.43026 HPP.

A massive sell-off in BlackRock's spot BTC ETF (IBIT) last week was likely a fire sale by a large investor seeking a quick cash-out rather than a strategic trade, according to Coin Bureau CEO Nic Puckrin. Citing an analysis from crypto services firm NYDIG, Puckrin said on X that the transaction liquidated $1.26 billion in Bitcoin exposure in a single trade, incurring $29 million in fees alone. He added that the seller remains unidentified and the price of BTC fell 5% following the sale.

According to CoinNess market monitoring, BTC has fallen below $73,000. BTC is trading at $72,982.04 on the Binance USDT market.

Two newly created wallets withdrew 984 BTC, worth approximately $72 million, from BitGo about an hour ago, according to Lookonchain.

Bithumb founder and former chairman of Bithumb Holdings, Lee Jung-hoon, has won an appeal in a lawsuit seeking 12 billion won ($8.7 million) in damages over the failed 2018 listing of the BXA coin, Chosun Biz reported. The case stemmed from a deal to sell a stake in the exchange. The court ruled that it was difficult to conclude that Lee's side had guaranteed the BXA coin would be listed on Bithumb.

The BTC futures market has not fully recovered from the largest-ever liquidation event that occurred on Oct. 10 of last year, according to on-chain analyst Darkfost. In a post on X, he noted that open interest on major exchanges dropped by 71,000 BTC in a single day, with positions worth over $11 billion in nominal value being liquidated. Darkfost added that market conditions have remained challenging since, with traders showing caution in increasing their position sizes. He pointed out that, excluding the Chicago Mercantile Exchange (CME), BTC-denominated open interest on other platforms has yet to return to its pre-Oct. 10 levels. However, he explained that Binance's open interest has recovered, surpassing its pre-liquidation levels, and its market share has increased from 30% to 36%. This suggests that investors have been favoring more liquid platforms since the incident.

Ontology (ONT), a decentralized identity and data infrastructure network, announced on June 1 a strategic shift for its core product, ONTO Wallet. Based on its accumulated Decentralized Identity (DID) technology and user-centric data management capabilities, the wallet is set to evolve into an infrastructure that provides verifiable data to AI foundation models, AI agents, and applications. Additionally, users will be able to perform AI data-related tasks through ONTO Wallet and earn cryptocurrency rewards. Data provided by users will be supplied to AI companies to help improve and optimize their models and services.

XRP has fallen to its lowest level in 15 weeks as strong selling pressure has outweighed the impact of over 25 million XRP being withdrawn from exchanges, CoinDesk reported. The price of XRP recently fell from $1.3384 to $1.3208, hitting an intraday low of $1.314 before a slight rebound to around $1.32. The decline was reportedly triggered when the $1.3320 support level was breached amid a trading volume of 55.03 million. The report noted that every rebound attempt has been met with sell-offs, preventing accumulation signals from impacting the price. Despite spot XRP ETFs recording cumulative inflows of approximately $1.42 billion, this was insufficient to halt the downward trend. In the short term, $1.31 serves as a support level. A break below this could see the price test $1.28 and then $1.20. Conversely, a move above $1.34 could trigger a cascade of liquidations for large short positions accumulated in the $1.34 to $1.40 range, potentially leading to a sharp rally.

BitMEX co-founder Arthur Hayes has proposed a $100,000 bet to Multicoin Capital co-founder Kyle Samani on the year-end performance of HYPE. Hayes wagered that HYPE would deliver a higher U.S. dollar return by the end of the year than any other asset among the top 10 cryptocurrencies by market capitalization. In response, Samani accepted the bet, choosing to back SOL.

Losses from cryptocurrency hacks and exploits totaled approximately $68.3 million in May, Web3 security firm CertiK reported. The figure represents a roughly 90% decrease from the $650 million lost in April. Phishing attacks accounted for approximately $2.6 million of the total, while around $9.4 million was recovered or returned.

The Spot CVD chart analyzes the order book for the BTC/USDT spot trading pair. The upper section shows a volume heatmap, and the lower section displays the cumulative volume delta (CVD). - The volume heatmap at the top tracks trading volume at specific price levels. The background color brightens when the price lingers in a certain range or moves significantly, with these brighter areas indicating potential support or resistance. - The cumulative volume delta (CVD) indicator at the bottom shows buy and sell orders categorized by trade size. As buy orders for a specific size increase, the corresponding colored line rises. The yellow line, for instance, tracks orders between $100 and $1,000, while the brown line tracks large orders between $1 million and $10 million.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 50.14% long, 49.86% short - Binance: 48.88% long, 51.12% short - OKX: 49.26% long, 50.74% short - Bybit: 47.43% long, 52.57% short

Onchain Lens reported that HYPE ETF issuer Bitwise purchased 112,158 HYPE, worth $8.18 million, through FalconX about an hour ago.

South Korean crypto exchange Bithumb announced it has delayed the listing of Solstice (SLX) for KRW trading by one hour. The exchange had originally scheduled the listing for 8:00 a.m. UTC today.

U.S. Senator Cynthia Lummis stated on X that the Clarity Act is more than just a cryptocurrency bill, arguing it will determine whether the United States leads the next-generation financial system or is left on the sidelines.

Upbit announced it has postponed the listing of Solstice (SLX) for a second time, rescheduling it for 6:00 a.m. UTC today. The listing was previously delayed from an initial time of 5:00 a.m. UTC to 5:30 a.m. UTC.

Cryptocurrency analyst Benjamin Cowen expects Bitcoin to soon drop to the $70,000 level before staging a slight rebound. Writing on X, he noted that BTC's recent random movements make predictions difficult. However, Cowen added that after this rebound concludes, the asset is likely to retest its lows from February of this year.

Upbit has announced that it will temporarily suspend deposits and withdrawals for IoTeX (IOTX) and the IoTeX network at 9:00 a.m. UTC on June 7 to support an upcoming hard fork.

South Korean crypto exchange Upbit has announced it is delaying the listing of Solstice (SLX) by 30 minutes to 5:30 a.m. UTC today. The token was originally scheduled to go live at 5:00 a.m. UTC. Fellow South Korean exchange Bithumb also postponed its SLX listing by 30 minutes, from 8:00 a.m. UTC to 8:30 a.m. UTC.

Multicoin Capital co-founder Kyle Samani said that Web3 is over, with only DeFi (decentralized finance) and DePIN (decentralized physical infrastructure) remaining. His comments follow a statement from Starknet co-founder Eli Ben-Sasson, who said the crypto industry is currently facing an identity crisis. Ben-Sasson pointed out that while longtime industry OGs are leaving, institutional investors and traditional finance (TradFi) are beginning to show interest in crypto—the very trend the industry initially resisted.

While the KOSPI index has surged recently, boosting stock market trading volume, activity in the South Korean crypto market has dwindled to just 2% of the stock index's level, Maeil Business Newspaper reported. On May 29, the KOSPI's daily trading volume reached 118.267 trillion won, whereas the combined 24-hour trading volume of the country's five largest digital asset exchanges—Upbit, Bithumb, Coinone, Korbit, and Gopax—amounted to only 2.713 trillion won. This marks a sharp reversal from the market sentiment observed just a year ago.

The reporting period for South Koreans to declare overseas financial accounts held in 2025 begins today, Etoday reported. Individuals are required to report in June if the total balance of their overseas accounts exceeded 500 million won (approximately $362,000) on the last day of any month during the previous year. The declaration is based on the account balance itself, not on any capital gains from trading virtual assets.

Memecoin trading platform BullX announced that it has suspended trading functions on the current version of its app, effective 12:00 a.m. UTC on June 1. The company stated this measure is in preparation for its next version. Withdrawal and wallet functions will remain available.