HYPE Hits New All-Time High, Treasury Stock PURR Surges Nearly 20% in After-Hours Trading

After plunging at midday on Friday, Hong Kong-listed shares of Smartcom Tech extended their losses on June 1st. According to data from the Bitget platform, Smartcom is now trading at HK$1438, with an intraday decline of 9.84%.

On June 1, Huobi HTX has officially launched its Contract TradFi Stock Trading Competition, per official announcements. Running from now through June 11 at 20:00 UTC, the contest is open to both new and existing platform users. Those who complete designated coin-margined contract trades will split a $50,000 prize pool, with rewards calculated based on their total trading volume. For full terms and details, visit the official website here: https://www.huobi.com/en-us/htx

On June 1st, HYPE briefly crossed $74 this morning, notching another new all-time high. Data from hl.eco shows that HYPE’s TWAP (Time-Weighted Average Price) net buying volume has seen a notable rebound, with over $14.8 million in net buying activity recorded in the next 24-hour period. BlockBeats Note: The TWAP (Time-Weighted Average Price) strategy splits large orders evenly over time into many smaller orders, executing them gradually at fixed intervals within a preset time window. It is a common algorithmic trading approach primarily used to reduce the market price impact of large order executions.

June 1: Iran’s Islamic Revolutionary Guard Corps (IRGC) announced via Iranian media outlets that it targeted a U.S. military airbase in retaliation for a U.S. strike on a telecommunications tower located on Siri Island in southern Iran.

June 1: Leading U.S. financial market strategist Ryan Detrick noted that the S&P 500 is at an all-time high as June begins. Historical data since 1950 shows June has never been the U.S. stock market’s annual peak month, per his analysis. His chart covering data from 1950 through 2025 further illustrates this: annual U.S. stock market peaks have occurred 32 times in December, 12 times in January, zero times in June, and far less frequently in all other months.

On June 1, U.S. Central Command (CENTCOM) announced that U.S. forces carried out self-defense strikes against Iranian radar and drone command-and-control sites in Goruk and Qeshm Island, Iran, over the weekend. These two deliberate strikes were conducted Saturday and Sunday in response to Iran’s provocative actions—including the downing of a U.S. MQ-1 drone operating in international airspace. U.S. fighter jets acted swiftly to destroy Iranian air defense systems, a ground control station, and two unmanned aircraft used in one-way attacks targeting vessels transiting the region’s waters. No U.S. service members were killed or injured in the operation. Amid the ongoing ceasefire, CENTCOM will continue to safeguard U.S. assets and interests in response to Iran’s unjustified aggression.