The 2026 IPO calendar is being framed as similar to crypto token launches, with SpaceX, OpenAI and Anthropic expected to come to market at aggressive valuations and limited free floats. Analyst Thomas Tunguz estimates the trio could be valued at up to $3B in total, implying $432B–$576B in capital needs if floated at 20%. SpaceX’s filing also outlines potential early share-release conditions and faster index-inclusion pathways that could broaden participation from pension-fund liquidity.

On June 2, the U.S. Treasury sanctioned Nobitex, describing it as Iran's largest cryptocurrency exchange, and also designated several of its senior executives. Officials alleged the platform enabled sanctions evasion and processed transactions tied to the Islamic Revolutionary Guard Corps (IRGC), including activity involving stablecoins. The package also targeted Iranian exchanges Wallex, Bitpin, and Ramzinex, with restrictions blocking U.S.-jurisdiction property and limiting dealings by U.S. persons.

The Digital Asset Market Clarity Act (CLARITY Act) has moved forward in Congress after being added to the Senate Legislative Calendar. The step makes the proposal eligible for debate by the full Senate, though leaders have not set a floor vote date. If enacted, it would create a federal framework for digital asset regulation and aim to clarify oversight roles between the SEC and CFTC.

Hyperliquid accounted for 50.8% of on-chain perpetuals volume on June 2 after handling $10.319 billion out of $20.306 billion across all chains. Solana ranked second with $5.307 billion, while Ethereum and Arbitrum each posted under $2 billion. The report also highlights HYPE trading above $72 with a market cap over $18 billion, alongside expectations that Grayscale’s HYPG staking ETF will start trading this week.

Bitcoin fell to $65,707 on June 3, dropping 7% in 24 hours and more than 12% over seven days, alongside $1.85 billion in crypto liquidations. The report argues the move was driven by excessive derivatives leverage rather than Strategy's disclosed sale of 32 BTC to fund preferred dividend payments. It also notes Mt. Gox-related wallet transfers worth about $739 million added to sentiment, while saying a transfer alone is not proof of selling.

El Salvador continued accumulating bitcoin as BTC dipped below $66,000 this week and traded as low as $65,700. As of June 3, the country's strategic reserve was estimated near 7,600 BTC, valued at more than $510 million. The buying has persisted despite a $1.4 billion IMF deal that made bitcoin acceptance optional for businesses.

Ethereum fell 5% in 24 hours and 10% over the week, revisiting February 2026 capitulation territory near $1,871 with $1,800 flagged as a key daily-close level. On-chain metrics show 32.5% of supply (about 39.5M ETH) locked in staking while Binance stablecoin netflows averaged -$64M per day, alongside a Binance funding rate of 0.01 that points to a leveraged-long bias.

Injective (INJ) slipped about 5% after breaking above $6.29 and briefly reaching $7.14, with some short-term holders taking profits as Bitcoin entered a corrective phase. Momentum indicators stayed constructive at press time, and traders are watching whether $6.29–$6.40 can hold as support or if price revisits the $5.80–$6.20 demand areas.