Overview

You are tuning into Crypto Daybook Americas, your daily guide on overnight developments in the crypto sphere and tomorrow’s expectations. Daily insights delivered to your inbox at 7 a.m. ET. If not subscribed, click here.

Market Status

The crypto bull run has come to a halt after Bitcoin reached a peak exceeding $110,000 last month. Nevertheless, corporate participation remains solid.

Market Highlights

• Norwegian Block Exchange has seen its shares rise over 100%, following their announcement of acquiring 6 BTC worth around $633K.
• An educational technology firm named Classover Holdings Inc. has signed a $500 million deal with Solana Growth Ventures LLC to invest predominantly in Solana (SOL) tokens.
• Ripple’s RLUSD stablecoin has received regulatory green light from the Dubai Financial Services Authority, enhancing blockchain initiatives.
• Robinhood completed the acquisition of Bitstamp for $200 million to strengthen its European presence.

ETF Trends

U.S.-listed Bitcoin ETFs recorded a $268 million outflow over the past three days while Ethereum ETFs saw positive inflows of $78.2 million, continuing a streak of gains.

What to Watch

• June 3, 1 p.m.: The Shannon hard fork goes live on the Pocket Network.
• June 4, 10 a.m.: A U.S. House Financial Services Committee hearing on digital assets will take place.

Economic Indicators

Focus today centers on April’s JOLTS report revealing job vacancies and layoffs. Durable goods orders are predicted to have declined, possibly driving down the dollar to prior lows if labor statistics underperform.

Conclusions

Overall, despite some market stagnation in Bitcoin’s price, the forward momentum in corporate adoption showcases a resilient cryptocurrency space. Stay informed and subscribe for daily updates!