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Bithumb announced it will temporarily suspend deposits and withdrawals for the Polygon Ecosystem Token (POL) at 10:00 a.m. UTC on June 2 to support a network upgrade.

Blockchain security firm PeckShield reported via X that a security issue has occurred on Gnosis (GNO) Pay. Gnosis co-founder Martin Köppelmann has also recommended that Gnosis Pay users withdraw their EURe and GNO. The Gnosis team has not yet disclosed the scale of the attack, the amount stolen, or any technical details.

On-chain analyst Axel Adler Jr. stated that Bitcoin's realized volatility, based on a 30-day moving average, has dropped by over 56% this quarter, falling from around 39 in early March to a current level of 17. He analyzed that the market has now entered a high-compression accumulation phase, characterized by both low volatility and a slowdown in premiums. Adler also explained that the Delta indicator, which reflects changes in market premiums, has been negative for six consecutive months, suggesting that market expectations are cooling. However, he added that the likelihood of a significant directional move is increasing, with an expansion in volatility expected in the future.

The blockchain promotion committee of Japan's ruling Liberal Democratic Party has submitted a proposal to the government urging the creation of a regulatory framework to encourage the use of yen-based stablecoins and permit the trading of cryptocurrency ETFs, Reuters reported. The committee suggested that the yen stablecoin could be promoted at the Asian Development Bank's annual meeting, which Japan will host in May 2027, and noted that related experiments are already underway, led by the Financial Services Agency and major banks. The report added that despite the proposal, authorities remain concerned that stablecoins could disrupt the traditional financial system. The Bank of Japan has also previously indicated the need for a multifaceted approach to the global monetary system that extends beyond stablecoins.

Shinhan Financial Group has joined a coalition of major South Korean banks to discuss a won-denominated stablecoin project, according to financial industry sources on June 1. The group, which also includes KB, Toss, the Industrial Bank of Korea (IBK), BNK Financial, and iM Bank, held a private digital asset meeting in Seoul today. The move is seen as a response to a separate consortium led by Hana Financial Group with Dunamu and Naver. A high-ranking financial official told the Seoul Economic Daily that Hana's leading role in that project has made it difficult for other large banking groups to get involved, potentially creating a 'Hana versus the rest' dynamic in the sector.

An early investor who bought the Bian Rensheng token just 30 minutes after its launch last October has started to take profits after seeing a 5,000-fold return, according to EmberCN. The investor's initial $2,480 purchase, made at an average price of $0.00013 per token, has generated a profit of $12.38 million to date. About 30 minutes ago, the address deposited 3.5 million Bian Rensheng tokens, worth $2.38 million, to Binance. The wallet still holds 15 million tokens, valued at $10 million. According to CoinMarketCap, Bian Rensheng is trading at $0.6646, up 35.61% in the past 24 hours.

According to data from CoinGlass, an estimated $463.88 million in short positions on major centralized exchanges will be liquidated if BTC surpasses $74,341. Meanwhile, a drop below $72,108 would trigger the liquidation of $368.02 million in long positions.

On-chain data platform Arkham said on X that a participant in its prediction market, 'Surprised-Legacy,' stands to win $200,000 if it is confirmed that Michael Saylor sold Bitcoin yesterday. The market has not yet been settled. Arkham explained that the outcome depends on verification of a sale last week, which would be disclosed in a MicroStrategy 8-K filing. The prediction market currently shows an 11% probability that MicroStrategy sold Bitcoin.

The price of LAB, a cryptocurrency facing accusations of price manipulation from the community, has surpassed $12. By fully diluted valuation (FDV), it has overtaken Zcash (ZEC) and USDS to rank 12th globally. Excluding stablecoins, this makes it the 10th largest project by market capitalization. Previously, Simon Dedic, founder of crypto venture capital firm Moonrock Capital, criticized the project, describing it as a laughably obvious scam that appears to be operating without any sanctions. He also expressed disappointment that major exchanges like Gate.io, KuCoin, and Bitget are tolerating and even enabling such activities for short-term profit. According to CoinGecko, LAB is currently trading at $12.23, up 39.6%.

Unitas Labs, a layer supporting on-chain yield generation, has announced the launch of XGOLD (XGLD), a yield-bearing gold token collateralized by Tether Gold (XAUT). The new token is designed to provide additional yield based on Unitas's operational strategies.

AhnLab Blockchain Company (ABC), the blockchain subsidiary of AhnLab, announced on June 1 the launch of its digital asset custody service, "ABC Cloud Wallet." According to News1, the service is available online for individual, corporate, institutional, and foundation clients. It enables institutions to systematically manage their digital asset operating rights and policies in line with internal standards.

Bitcoin market analyst PlanB has forecast a greater than 50% probability that BTC will fall below $61,000. Writing on X, he noted that the market is currently divided between the view that the $60,000 level reached in February was the bottom and the belief that the bear market will continue. PlanB stated that he personally believes the data does not yet show signs of a bottom forming. He added that he sees a more than 50% chance of BTC dropping below either $61,000 or $53,000.

Vietnam's Ministry of Finance has unveiled a proposed amendment to its law on supporting small and medium-sized enterprises that would permit cryptocurrencies to be used as collateral for bank loans, FinanceFeeds reported. The move aims to shift away from the traditional reliance on real estate collateral and integrate liquidity from the country's active retail crypto market into the formal financial system. The bill is scheduled to be submitted to the National Assembly this October and, if passed, will take effect on July 1, 2027.

Approximately 65% of the $17 billion lost to cryptocurrency hacks last year was linked to social engineering methods, according to a new report from blockchain analytics firm Chainalysis. The firm noted a significant increase in such incidents and, citing data from AMLBot, warned that as hacking techniques evolve, users should reduce their reliance on SMS authentication and regularly review their wallet permissions.

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.