One week after Arc Chain's launch, on-chain assets have exceeded $700 million, with USDC trading volume topping $7 billion.

Arbitrum-based derivatives protocol Variational has unveiled the tokenomics for its VAR token: 32% of the total token supply will be allocated to a genesis airdrop, distributed proportionally to users’ points, with 100% unlocked at the Token Generation Event (TGE); 18% goes to the ecosystem reserve, managed by the foundation; and 50% is reserved for the team and investors, locked for 12 months post-TGE before linear unlocking over a minimum of 3 years. The team plans to hold the TGE in the fourth quarter (Q4), with 150,000 points issued weekly until then. A minimum of 1 point is required to claim the airdrop, and unclaimed airdrop allocations will be burned. Additionally, 100% of the protocol’s revenue will be used to buy back and burn VAR tokens.

After $UNI dropped, whale 0xd42B spent 1.5M $USDC to buy 159,698 $UNI at $9.39 in a single trade.

Prominent trader Killa posted that during the previous crypto bull cycle, Bitcoin’s largest pullback before hitting its all-time high (ATH) was 20-22%, meaning the leading cryptocurrency never corrected more than 22% while rallying toward its ATH. Applying the same proportional logic to the current cycle, a relatively mild bear market (which saw Bitcoin fall 54% this cycle, a far shallower decline than prior downturns) should result in a similarly moderate bull market pullback, putting this cycle’s expected major correction in the roughly 10-15% range. Killa argues mathematically that this means buying dips with 4x leverage should be relatively safe as Bitcoin advances toward its $126,000 peak, provided traders do not go long at the top of each market phase. A BTC-focused quantitative trader, Killa correctly predicted the peak of this bull market in May 2025 and has over 200,000 followers on X. In mid-April, he shorted Bitcoin at $74,688, then flipped to a long position during the broad market selloff on June 5.

As the market drops, OTC whale 0x8c58 sold 42,005 $ETH ($111.89M) and now has 9,996 $ETH ($26.8M) left.

Bankless co-founder David Hoffman has published an article noting that the crypto market occasionally sees instances where a single asset absorbs capital flows from Bitcoin holders. In 2021, Ethereum (ETH) experienced a similar phenomenon, and in 2026, Zcash (ZEC) is mirroring that trend. Leveraging its privacy and anti-quantum narratives, ZEC has successfully drawn some Bitcoin holders to treat it as a "just in case" hedge, fueling a sharp surge in its market capitalization. The actual driver behind ZEC's rise is spillover from Bitcoin (BTC) wealth, not fresh capital. Separately, NEAR is absorbing relatively weak "smart contract buy demand" in 2026. Hoffman further argues that BTC and ETH can no longer achieve 10x growth, with more innovation being captured by new projects such as Hyperliquid and Ethena, as well as traditional finance, which could limit the overall expansion of the crypto industry. Earlier reports indicate that in early June, Hoffman fully disclosed on X the allocation of funds following his ETH liquidation: VVV (Venice AI's governance token), NEAR, ZEC, LIT, and HYPE.

According to Onchain Lens monitoring, Hyperliquid purchased and burned 34,280 HYPE tokens over the past 24 hours at a volume-weighted average price (VWAP) of $95.25, totaling roughly $3.26 million. Data shows that the cumulative amount of HYPE burned has reached 48.89 million tokens, valued at approximately $451 million, accounting for 4.89% of its maximum supply. The protocol’s revenue over the past 30 days stood at $60.58 million.