Market Overview (May 27 – Jun 2): MT Gox News, Bitcoin’s Future, and Big Predictions

Key Points

  • MT Gox moved 141K BTC to another wallet, while Aptos set a record with 115.4 million Layer-1 transactions daily.
  • MasterCard facilitates secure cross-border P2P transactions, and DBS makes a profit of $200M USD from holding 173.7K ETH.
  • June marks significant events in the Crypto space, with numerous token launches and upgrades in tech infrastructure projects.
Dive into the week’s top crypto news: MT Gox, Bitcoin adoption, and Aptos’ achievement. Get insights into Macro and Predictive Crypto Markets.
Market Overview (May 27 – Jun 2): MT Gox News, Bitcoin's Future, and Big Predictions

Last week’s highlights big news (May 27 – Jun 2)

A recent event in the crypto space saw MT Gox move all 141K BTC to another wallet. Concurrently, Argentina’s National Securities Commission revealed that Argentine and Salvadoran officials were discussing Bitcoin adoption. At the same time, Solana Validators voted to redistribute all priority fees to validators.

Aptos sets a new record for Layer-1 with 115.4 million transactions in one day, making it higher than Solana and Sui. Meanwhile, Bernstein, the firm managing $725 billion in assets, predicts Bitcoin will reach $90K USD by 2024 and even $150K USD by 2025. Metaplanet directors in Asia approve the purchase of an additional 250 million yen of Bitcoin to further their aim of replicating MicroStrategy’s success in the region.

image 1 6

Trading of Bitcoin products has commenced on the London Stock Exchange. 21Shares launched two Bitcoin products, and WisdomTree launched one called Physical Bitcoin ETN. In the Middle East, the Bank of Israel is in the test phase for the digital shekel to further its digital payment system.

image 1 7

The New York Stock Exchange partners with CoinDesk Indices to launch Bitcoin spot price tracking financial products. The Solana network now hosts PayPal’s Stablecoin USD for faster and cheaper transactions. Circle is also in the news for the official launch of USDC in Brazil in cooperation with local banks.

MasterCard is facilitating easier and more secure cross-border P2P transactions. Surprisingly, DBS, Singapore’s largest bank, is revealed to hold nearly 173.7K ETH, realizing a profit of $200 million USD. On the regulation front, Hong Kong has immediately issued orders to shut down all unregistered crypto exchanges.

Looking forward, Pudgy Penguins will release a mobile game on the Mythos chain, a gaming network built on Polkadot. Also separately, CZ began his 4-month prison sentence at a low-security prison in Lompoc, California. In a historic move, Donald Trump began accepting contributions via the Bitcoin Lightning Network for his presidential campaign.

Macroeconomics (May 27 – Jun 2)

Percent PCE Inflation Update:

  • PCE stands at 2.7%.
  • Core PCE is recorded at 2.8%.

Both indices align with the estimated values.

Major Economic Events this week

WEDNESDAY, JUNE 5

  • ADP employment data

FRIDAY, JUNE 7

  • US unemployment rate
  • Last month: 3.9% | Estimated: 3.9%

Prediction Market Crypto (May 27 – Jun 2)

The upcoming market sentiment shows important levels for different digital currencies. $ BTC’s support is pegged at 66k100, while $ ETH faces a resistance level at 3825. Total3 has a benchmark of support at 660B, and BTC.D faces resistance at 55.10%. Interestingly, USDT.D has a rising trend, and $BTC’s path is uncertain—both rising and falling is possible.

June is promising to be a very important month in the Crypto space. It is the last month of Q2.2024 and two months after the BTC Halving, meaning the implications will be large. Two events stood out: the assimilation process of the $ASI token and the Apple WWDC-2024 focusing on AI.

Numerous projects have earmarked June for their token launches, thus making it a month of interest for the Airdrop/Retroactive sector. Community-favored projects like zkSync, Taiko, Blast, Mocaverse, and LayerZero are among them. The kick-off of EURO 2024 on 14.06 (VN) holds significance for participants of Fan-Token projects.

Though delays may occur, Q2 is anticipated to witness considerable upgrades in tech infrastructure projects such as Fantom, Starknet, Klaytn, and The Graph. Noteworthy unlocks for this month include $APT at $100M on June 12, $STRK at $80M on June 15, and $ARB, $UNI, and $OP on June 16 and 30, respectively.

Market Overview (May 27 – Jun 2): MT Gox News, Bitcoin’s Future, and Big Predictions

Key Points

  • MT Gox moved 141K BTC to another wallet, while Aptos set a record with 115.4 million Layer-1 transactions daily.
  • MasterCard facilitates secure cross-border P2P transactions, and DBS makes a profit of $200M USD from holding 173.7K ETH.
  • June marks significant events in the Crypto space, with numerous token launches and upgrades in tech infrastructure projects.
Dive into the week’s top crypto news: MT Gox, Bitcoin adoption, and Aptos’ achievement. Get insights into Macro and Predictive Crypto Markets.
Market Overview (May 27 – Jun 2): MT Gox News, Bitcoin's Future, and Big Predictions

Last week’s highlights big news (May 27 – Jun 2)

A recent event in the crypto space saw MT Gox move all 141K BTC to another wallet. Concurrently, Argentina’s National Securities Commission revealed that Argentine and Salvadoran officials were discussing Bitcoin adoption. At the same time, Solana Validators voted to redistribute all priority fees to validators.

Aptos sets a new record for Layer-1 with 115.4 million transactions in one day, making it higher than Solana and Sui. Meanwhile, Bernstein, the firm managing $725 billion in assets, predicts Bitcoin will reach $90K USD by 2024 and even $150K USD by 2025. Metaplanet directors in Asia approve the purchase of an additional 250 million yen of Bitcoin to further their aim of replicating MicroStrategy’s success in the region.

image 1 6

Trading of Bitcoin products has commenced on the London Stock Exchange. 21Shares launched two Bitcoin products, and WisdomTree launched one called Physical Bitcoin ETN. In the Middle East, the Bank of Israel is in the test phase for the digital shekel to further its digital payment system.

image 1 7

The New York Stock Exchange partners with CoinDesk Indices to launch Bitcoin spot price tracking financial products. The Solana network now hosts PayPal’s Stablecoin USD for faster and cheaper transactions. Circle is also in the news for the official launch of USDC in Brazil in cooperation with local banks.

MasterCard is facilitating easier and more secure cross-border P2P transactions. Surprisingly, DBS, Singapore’s largest bank, is revealed to hold nearly 173.7K ETH, realizing a profit of $200 million USD. On the regulation front, Hong Kong has immediately issued orders to shut down all unregistered crypto exchanges.

Looking forward, Pudgy Penguins will release a mobile game on the Mythos chain, a gaming network built on Polkadot. Also separately, CZ began his 4-month prison sentence at a low-security prison in Lompoc, California. In a historic move, Donald Trump began accepting contributions via the Bitcoin Lightning Network for his presidential campaign.

Macroeconomics (May 27 – Jun 2)

Percent PCE Inflation Update:

  • PCE stands at 2.7%.
  • Core PCE is recorded at 2.8%.

Both indices align with the estimated values.

Major Economic Events this week

WEDNESDAY, JUNE 5

  • ADP employment data

FRIDAY, JUNE 7

  • US unemployment rate
  • Last month: 3.9% | Estimated: 3.9%

Prediction Market Crypto (May 27 – Jun 2)

The upcoming market sentiment shows important levels for different digital currencies. $ BTC’s support is pegged at 66k100, while $ ETH faces a resistance level at 3825. Total3 has a benchmark of support at 660B, and BTC.D faces resistance at 55.10%. Interestingly, USDT.D has a rising trend, and $BTC’s path is uncertain—both rising and falling is possible.

June is promising to be a very important month in the Crypto space. It is the last month of Q2.2024 and two months after the BTC Halving, meaning the implications will be large. Two events stood out: the assimilation process of the $ASI token and the Apple WWDC-2024 focusing on AI.

Numerous projects have earmarked June for their token launches, thus making it a month of interest for the Airdrop/Retroactive sector. Community-favored projects like zkSync, Taiko, Blast, Mocaverse, and LayerZero are among them. The kick-off of EURO 2024 on 14.06 (VN) holds significance for participants of Fan-Token projects.

Though delays may occur, Q2 is anticipated to witness considerable upgrades in tech infrastructure projects such as Fantom, Starknet, Klaytn, and The Graph. Noteworthy unlocks for this month include $APT at $100M on June 12, $STRK at $80M on June 15, and $ARB, $UNI, and $OP on June 16 and 30, respectively.

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