BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

June 2 — Per an official announcement — Bitget has launched the ANTHROPIC/USDT IPO pre-listing perpetual contract, with leverage up to 20x. For full details, please visit Bitget’s official platform.

**Crypto Update: June 2** Huobi HTX officially announced the launch of five new perpetual contracts on June 2: NOK/USDT, EWT/USDT, ASTS/USDT, BBX/USDT, and SLX/USDT. Notably, the maximum leverage for NOK/USDT, EWT/USDT, ASTS/USDT, and BBX/USDT is capped at 10x, while SLX/USDT offers a higher max leverage of 20x. Alongside the contract launches, Huobi HTX is hosting a special trading event for these pairs, running from 15:00 June 2 to 15:00 June 9 (UTC+8). The total prize pool is up to $20,000. To qualify for the prize distribution, registered users must participate in contract trading of these five assets and meet a cumulative valid trading volume of at least $1,000. Rewards will be allocated based on users’ trading volume rankings. Additionally, new users trading these contracts will receive exclusive perks.

June 2, SK Hynix Chairman Chey Tae-won announced the company’s plan to double its NAND flash wafer production capacity over the next five years, noting that supply constraints for NAND flash are expected to stay tight through 2030.

June 2nd: Per OnchainLens tracking, a prominent crypto whale closed its long HYPE position, locking in a $2.28 million profit before shifting to a $13.6 million 5x leveraged short HYPE position. Additionally, the whale offloaded 40,000 HYPE spot tokens, booking a $2.85 million gain. It still holds 150,000 HYPE spot tokens valued at roughly $10.75 million, with total spot profits reaching $6.4 million.

June 2 — Per data from Hyperinsight monitoring, Marvell Technology (NASDAQ: MRVL) extended its gains in U.S. pre-market trading, climbing 7.4% to a session high of $276. At current levels, the stock trades at roughly $270 per share, translating to a market capitalization of approximately $236.2 billion. Trading activity on the Hyperliquid platform also surged sharply: 24-hour trading volume hit $88.75 million, with open interest standing at $63 million, marking a 33% increase over the past 24 hours. MRVL has been on a steady upward run since 9 PM ET the prior day. Catalysts behind today’s rally include two key factors: Marvell recently launched a high-capacity switching chip designed for AI data center networks, and a comment from NVIDIA CEO Jensen Huang at the Taipei International Computer Show (COMPUTEX). Huang stated during the event that “Marvell will become the next trillion-dollar company” — the primary driver of MRVL’s sharp surge. This year’s COMPUTEX runs from Tuesday, June

June 2: According to Bitget market data, NVIDIA CEO Jensen Huang’s pre-market bull call on Marvell Technology (NASDAQ: MRVL) has triggered a sharp rally in the chipmaker’s stock. The shares surged more than 26% at open, and as of press time, they’re up 21.7% to trade above $265 apiece, pushing Marvell’s market capitalization past $200 billion. That still leaves the company five times short of Huang’s stated trillion-dollar goal for it. Today, Marvell CEO Matt Murphy delivered a keynote at Taipei’s Nangang Exhibition Center with the theme “The Future of AI Depends on Connectivity.” Huang appeared as a special guest during the event, where he publicly named Marvell as the “next trillion-dollar company.” He emphasized Marvell’s critical role in AI data center connectivity, optical interconnect, custom silicon (XPU), and the NVLink Fusion ecosystem, noting that connectivity is emerging as the next major bottleneck in AI infrastructure.