Ethereum

Mastercard has expanded its settlement infrastructure to include regulated stablecoins, adding Ripple's RLUSD alongside USDC, PYUSD, USDG, USDP and SoFiUSD. The June 3 rollout supports intraday, weekend and holiday settlement across multiple blockchains, including XRP Ledger, Ethereum, Solana, Polygon, Base, Arbitrum, Canton and Tempo.

Bitmine (Nasdaq: BMNR) said on June 3 it plans to offer 3,000,000 Series A preferred shares priced at $100 each, carrying a 9.50% annual dividend, for up to $300 million in gross proceeds. The company said the net proceeds may go toward general corporate purposes including acquiring additional ETH and other digital assets, expanding staking/validator infrastructure via MAVAN, and potentially funding a share repurchase program.

On June 4, Bitcoin fell below $62,000 and touched $61,000 overnight, down -4.8% over the past 24 hours, sparking $1.63Bn in liquidations with $1.38Bn from longs. Daily trading volume rose to over $393Bn, up from $143Bn the prior day, while Bitcoin ETF products saw $396M+ in additional outflows, extending the streak to 11 straight days.

Grayscale introduced the Grayscale Hyperliquid (HYPE) Staking ETF (HYPG) on June 3 and said it has begun trading on Nasdaq. The product is designed to provide HYPE exposure while seeking staking rewards, and it debuts with a 0.29% sponsor fee—lower than other U.S. Hyperliquid ETPs. Data cited in the report put HYPE ETF assets at $192.01 million with a June 3 daily net inflow of $2.99 million, alongside HYPE at $72.79 after a 0.58% daily rise at publication time.

As of 4 June 2026 at 11:15, the total crypto market cap is $2.19T, down from a $4.28T peak, a roughly $2.09T contraction (nearly 49%). Across major assets, Bitcoin is down about 49% from its 2025 high, while several large altcoins show steeper pullbacks, including SOL at 76% and ADA at 85%. The report argues the widening gap highlights a stronger flight-to-quality dynamic and notes the cycle low could still be months away if historical patterns persist.

Bitmine Immersion Technologies (NYSE: BMNR) said on June 3, 2026 it filed with the SEC for a $300 million 9.50% Series A Perpetual Preferred Stock offering, aiming to fund additional ETH purchases and other corporate uses. The company reported holding 5,416,901 ETH as of May 31, 2026 and expects staking income of up to $296 million annually, versus an estimated $28.5 million yearly dividend cost. Bitmine also applied to list the preferred shares on the NYSE under BMNP, with trading anticipated within 30 days of issuance if approved.

Ethereum fell to $1,720 on Coinbase in early Thursday trading before rebounding above $1,800, marking its lowest level since April 2025. Analysts cited macro risk-off conditions and diverging signals in staking and onchain activity, while the broader crypto market dropped about $100 billion to $2.3 trillion.

Bitcoin slipped under $66,000 late Tuesday before rebounding to around $66,460 in early Wednesday New York trading, after touching nearly $65,700. Ethereum fell more than 7% to about $1,849, while broader weakness followed $519 million of net outflows from U.S. spot Bitcoin ETFs and about $90 million from spot Ethereum ETFs, alongside liquidations and rising Middle East tensions.

On Tuesday, June 2, spot bitcoin ETFs recorded $519.19 million in net outflows, marking a 12th straight session of redemptions, while ether ETFs extended their losing streak to 16 days with $90.15 million withdrawn. The day's largest moves included a $388.64 million exit from Blackrock's IBIT and a $44.27 million outflow from Blackrock's ETHA, even as Solana and HYPE products added $6.50 million and $3.15 million, respectively.

On June 3, US spot Bitcoin and Ether ETFs recorded a combined $609.3M net outflow in one session as Bitcoin fell to $65,700 and Ether slipped below $1,900. The two-day June tally has surpassed $1Bn in Bitcoin ETF outflows, with BlackRock's iShares Bitcoin Trust seeing $388.6M withdrawn and spot Ether ETFs posting $90.2M of redemptions.