📢ALL MAJOR CRYPTO NEWS FOR JUNE 4-2024
1️⃣ Bitcoin and Ethereum Market Trends
Bitcoin is approaching its all-time high, reflecting strong market sentiment. This positive movement is part of a broader trend in the crypto market where investors are increasingly optimistic about Bitcoin's long-term prospects [
Ethereum has seen notable gains, largely driven by the approval of Ether ETFs in the U.S. This approval has led to over $3 billion worth of ETH being withdrawn from centralized exchanges.
2️⃣Major Token Unlocks
Several cryptocurrencies are scheduled for significant token unlocks in June, which could impact their market prices:
1. Arbitrum (ARB): On June 16, Arbitrum will unlock 92.65 million tokens valued at approximately $105.62 million. This unlock constitutes 3.2% of its circulating supply and will be distributed among the team, advisors, and investors.
2. Aptos (APT): Aptos will unlock 11.31 million tokens on June 12, worth around $102.69 million, representing 2.59% of its circulating supply. The tokens will be distributed to the foundation, community, core contributors, and investors.
3. Starknet (STRK): On June 15, Starknet will release 64 million tokens valued at $78.08 million, accounting for 5.61% of its circulating supply.
4. Space ID (ID): Scheduled for June 22, Space ID will unlock 78.49 million tokens worth $56.20 million, adding 18.23% to its circulating supply.
5. Immutable (IMX): On June 14, Immutable will unlock 25.53 million tokens worth $56.42 million, with a significant portion allocated for ecosystem and project development.
3️⃣Regulatory Developments
U.S. Regulation: President Joe Biden has vetoed a bill that aimed to overturn the SEC’s crypto accounting standard, SAB 121. This decision keeps stringent regulations on how companies report crypto holdings, impacting corporate adoption of cryptocurrencies.
Hong Kong: There is growing concern over Hong Kong's new crypto licensing system. Several major exchanges have withdrawn their applications, citing regulatory uncertainties and challenges.