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South Korean crypto exchange Bithumb announced it will list Helium (HNT) for KRW trading at 5:00 a.m. UTC today.

Solana developer cavemanloverboy has published a governance proposal, SIP-547, aimed at improving SOL's tokenomics. The developer argued that the current scale of SOL burning on the Solana network is effectively meaningless. He noted that even with 3,000 transactions per second (TPS), or 259 million transactions per day, burning the base fee of 2,500 lamports results in only 648 SOL being burned daily. This figure is extremely low compared to the daily inflation of approximately 60,000 SOL. According to the proposal, a blanket increase in the base fee is not a realistic option. Instead, cavemanloverboy stressed that the only reasonable way to improve the tokenomics at this point is to introduce a resource-based base fee system and burn the entire amount collected.

An anonymous whale has withdrawn 60.87 million WLFI from Binance over the past two days, according to EmberCN. The tokens are valued at $3.55 million, with an average acquisition price of $0.058. Withdrawals from exchanges are generally interpreted as a sign of intent to hold.

The KOSPI index surpassed 8,700 during intraday trading for the first time in its history.

Isabel Schnabel, a member of the European Central Bank's (ECB) executive board, warned that stablecoins could pose several risks to financial stability and monetary policy. Speaking today at the Bank of Korea's international conference in Seoul, Schnabel noted that while stablecoins could offer significant benefits, they also increase the risk of bank runs and could weaken the effectiveness of interest rate decisions, Bloomberg reported. She added that stablecoins could also reinforce the international dominance of the U.S. dollar. Schnabel emphasized that the ECB's best response is to ensure public funds continue to serve as an anchor for the financial system.

Mike Dudas, co-founder of The Block and crypto investment firm 6th Man Ventures, has defended the exchange Hyperliquid, stating it does not manipulate the prices or fund flows of its listed assets. His comments came in response to suggestions that Hyperliquid is as suspicious as Binance. Earlier, Multicoin Capital co-founder Kyle Samani stated on X that "Hyperliquid is as shady as Binance" and that the charges brought by the U.S. Department of Justice against Binance could also apply to the exchange. Samani dismissed claims of dialogue with regulators as "meaningless," noting that Binance also engaged in such talks for years. He added that the regulatory landscape has since clarified the distinction between centralized and decentralized protocols and established formal rules for centralized perpetual futures trading. Dudas called the comparison "absurd." He argued that Hyperliquid does not invest in listed coins to later sell them via perpetual futures or launchpads, nor does it pre-secure a portion of a coin's supply. He emphasized that Hyperliquid's financial structure is fully transparent on-chain, with platform revenue programmatically distributed to token holders.

Simon Dedic, founder of crypto venture capital firm Moonrock Capital, has asserted that the cryptocurrency LAB is a "laughably obvious scam" that appears to be operating without any penalties. "What's more disappointing is that major exchanges like Gate.io, KuCoin, and Bitget are also condoning and abetting this behavior for short-term profit," he pointed out. Dedic explained that LAB's price chart clearly shows suspicious market makers artificially inflating its value to lure in retail investors and extract their liquidity. He argued that such manipulation would require the cooperation of centralized exchanges (CEXs), as the costs would be prohibitive without fee-exempt accounts. Dedic stressed that exchanges assisting scam projects harms the entire industry and demonstrates a lack of morality. LAB's price more than doubled last week, with its fully diluted valuation (FDV) reaching $8.6 billion and now standing at approximately $10.5 billion. According to CoinGecko, this FDV places LAB 12th in the overall cryptocurrency market. For comparison, the market capitalization of South Korean firm Hyundai E&C is currently 15.69 trillion won, while LAB's FDV is valued at about 15.88 trillion won ($10.5 billion).

Jerome Powell, former Chairman of the U.S. Federal Reserve, has warned that the central bank's existence could be threatened if an administration were able to fire its officials over policy disagreements. According to The Wall Street Journal, Powell said at an event in Boston that if one administration finds a way to remove Fed officials based on policy differences, subsequent administrations would do the same. He added that the trust in the Fed, built over decades, is a precious asset that must be protected. The comments were his first public remarks since stepping down as Fed Chairman a week ago.

CoinMarketCap's Altcoin Season Index is currently at 39, unchanged from yesterday. The index measures market sentiment by comparing the price performance of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped tokens, against that of Bitcoin. A period is considered an altcoin season if 75% of these top 100 coins outperform Bitcoin over the past 90 days. Otherwise, it is deemed a Bitcoin season. A score closer to 100 indicates that the market is in an altcoin season.

Key token unlocks this week include $684 million in HYPE According to data from Tokenomist, the major token unlocks scheduled for this week (June 1–7) are as follows: - EIGEN: 36.82 million tokens ($7.51 million), representing 6.55% of circulating supply, at 4:00 a.m. UTC on June 1 - ENA: 40.63 million tokens ($3.55 million), representing 0.49% of circulating supply, at 7:00 a.m. UTC on June 2 - OPN: 32.09 million tokens ($4.24 million), representing 10.89% of circulating supply, at 12:00 p.m. UTC on June 5 - HYPE: 9.92 million tokens ($684 million), representing 2.54% of circulating supply, at 12:00 a.m. UTC on June 6 - RED: 40.85 million tokens ($4.82 million), representing 10.87% of circulating supply, at 4:00 p.m. UTC on June 6

The following are the key global macro events scheduled for the first week of June. All times are in UTC. - June 1, 12:30 p.m.: U.S. Federal Reserve Governor Waller speaks - June 3: South Korean stock market closed - June 3, 1:00 p.m.: U.S. Fed Vice Chair Michael Barr speaks - June 3, 6:00 p.m.: Fed Beige Book released - June 4, 8:00 a.m.: European Central Bank President Lagarde speaks - June 4, 12:30 p.m.: U.S. initial jobless claims released - June 4, 3:40 p.m.: Bank of England Governor Bailey speaks - June 4, 5:10 p.m.: U.S. FOMC member Daly speaks - June 5, 12:30 p.m.: U.S. May non-farm payrolls and unemployment rate released

Whale Alert reported that 500 million XRP has been unlocked from escrow at Ripple.

The Fear & Greed Index from cryptocurrency data provider CoinMarketCap is currently at 35, indicating continued "Fear" in the market. The index measures market sentiment on a scale from 0 (extreme fear) to 100 (extreme optimism). CoinMarketCap's index is calculated based on factors including the price movements of the top 10 cryptocurrencies by market capitalization, market volatility, derivatives data such as put/call ratios, the Stablecoin Supply Ratio (SSR), and the platform's own search data.

Whale Alert reported that 400 million XRP has been unlocked from escrow at Ripple.

The Spot CVD chart provides an order book analysis for the BTC/USDT spot pair. The upper section shows the Volume Heatmap, while the lower section displays the Cumulative Volume Delta (CVD). - The Volume Heatmap tracks trading volume at specific price levels. The background color brightens when the price lingers in a particular range or experiences significant movement. These brighter areas may act as potential support or resistance levels. - The CVD indicator shows buy and sell orders categorized by capital size. As buy orders increase, the corresponding colored line rises. For example, the yellow line represents orders between $100 and $1,000, while the brown line indicates large orders ranging from $1 million to $10 million.

U.S. President Donald Trump on June 1 refuted a CNN report claiming the Iran nuclear deal he signed did not address nuclear issues. Trump asserted that the deal very clearly prohibits Iran from possessing nuclear weapons and that most of the agreement addresses the nuclear issue in extremely detailed and strong terms. He also criticized CNN and other outlets he described as fake news media for their dismal ratings, adding that he believes a recovery would be impossible even with a change in ownership.

Coinbase has launched support for Indian Rupee (INR) deposits and withdrawals, marking a significant move into the country's cryptocurrency market, CoinDesk reported. Effective June 1, users in India can now directly transfer funds between their bank accounts and Coinbase accounts using the Immediate Payment Service (IMPS). This development offers a more streamlined trading experience for Indian investors, who previously had to rely on peer-to-peer (P2P) transactions or third-party intermediaries to fund their accounts. The Indian cryptocurrency market is estimated to be worth approximately $3.04 billion as of 2025 and is projected to grow to $14.2 billion by 2034.

Cryptocurrency analyst Kaal van de Poppe has stated that Bitcoin (BTC) is at a critical juncture. Writing on X, he noted that if BTC fails to hold the $71,000 support level, it could fall to a range of $61,000 to $65,000. However, he considers a drop below $61,000 unlikely, as this area aligns with the 200-day moving average, and past market cycles have not seen deeper corrections. Conversely, if the $71,000 support holds and BTC breaks through the $76,600 resistance, it could trigger a strong uptrend and an altcoin rally.

Galaxy Research reported that 20 BTC ($1.5 million), which had been dormant since being mined in 2010, was moved yesterday. The transfer occurred at block height 951,828, marking the first on-chain movement for these funds in approximately 15 years and eight months. The movement of long-dormant funds is often seen as an indicator that early miners or long-term holders may be resuming activity in their wallets.

Christopher Waller, a member of the U.S. Federal Reserve's Board of Governors, has suggested that the global spread of stablecoins will serve to strengthen America's financial dominance. Speaking at the 32nd Dubrovnik Economic Conference, Waller explained that countries adopting stablecoins would find themselves in a situation similar to maintaining a fixed exchange rate with the United States. He emphasized that this would effectively lead to these nations importing U.S. monetary policy, thereby expanding the Federal Reserve's policy influence across the globe.

The Cardano Foundation's planned Cardano Summit 2026 has been canceled, The Block reported. The decision came after an on-chain budget proposal for the event was rejected, securing only 65.21% of the vote—just 1.46 percentage points short of the 66.67% threshold required for approval. The proposal requested approximately $2 million (7.8 million ADA) for the summit's operating costs but failed to pass the community vote, leading to the complete cancellation of the event. However, a separate proposal submitted by EMURGO to sponsor 'TOKEN2049' was approved, and related promotional activities are expected to proceed without issue. Industry observers noted that the rejection of the summit's budget is seen as a case demonstrating that Cardano's on-chain governance is functioning effectively.

Kraken plans to launch a perpetual futures service in the U.S. compliant with Commodity Futures Trading Commission (CFTC) regulations within the next 30 days, Cointelegraph reported. The service will operate through the Bitnomial exchange, following an acquisition of the platform by Kraken's parent company, Payward, for up to $550 million announced in April. Meanwhile, Coinbase has also moved to capture the market, announcing access to global crypto options and perpetual futures for U.S. institutional investors immediately after receiving its own CFTC approval.

Michael Saylor, founder of MicroStrategy, hinted at an additional Bitcoin purchase on his X account last night, posting the phrase "Working Better" alongside a Saylor Tracker chart. Saylor has previously followed a pattern of buying more BTC after making similar posts. Meanwhile, MicroStrategy is holding a shareholder vote on a proposal to change the dividend payment frequency for its STRC perpetual preferred stock from monthly to semi-monthly. The company stated that approving the measure would help improve liquidity and enhance price stability.

HYPE, the native token of Hyperliquid, has surpassed Dogecoin (DOGE) in market capitalization to enter the top 10 of all cryptocurrencies.

We provide real-time cryptocurrency updates around the clock from 10:00 p.m. UTC on Sunday through 3:00 p.m. UTC on Saturday. Outside these hours, coverage is limited to critical market-moving developments. Note: Overseas economic news flashes will continue to be provided through the CoinNess Live app and the CoinNess website.