Weekly Highlight
Pump fun’s Billion-Dollar Token Sale Buzz
Pump fun, a Solana-based memecoin launchpad, plans to raise $1 billion at a $4 billion valuation through a token sale, reported on June 4, with unconfirmed rumors of a 10% airdrop driving community excitement. The platform has generated over $700 million in revenue since January 2024, highlighting its dominance in the memecoin ecosystem.
Ripple’s Stablecoin Gains Traction
Ripple’s RLUSD stablecoin received regulatory approval in Dubai, enhancing its role in global asset tokenization.
Ethereum ETFs Outshine Bitcoin with Strong Inflows
Ethereum ETFs Surge, Bitcoin ETFs Rebound: Ethereum ETFs attracted $621M in inflows over the past two weeks, maintaining a flawless streak with no single day of outflows, fuelled by strong investor confidence in ETH’s DeFi and smart contract leadership. Bitcoin ETFs, after experiencing outflows last week amid market volatility, saw a recovery with inflows on June 3 and June 4.
Corporate Bitcoin Accumulation Continues
Metaplanet, Japan’s Bitcoin treasury pioneer, acquired 1,088 BTC for $117M, increasing its holdings to 8,888 BTC, now worth over $950M. Trump Media & Technology Group raised $2.32B to establish a Bitcoin treasury, while GameStop purchased 4,710 BTC for $513M, reinforcing a growing trend of corporate Bitcoin adoption as a hedge against inflation and a store of value.
Market Insight
Ethereum at a Critical Juncture: Holding the 200-Week SMA, But Range-Bound
Ethereum (ETH) is currently showing a mix of structural strength and caution across timeframes:
Weekly Time Frame
Ethereum has successfully reclaimed its 200-week simple moving average (SMA), currently around $2,600. This is a historically significant technical level, often acting as a long-term support/resistance barrier. The breakout above this SMA suggests a potential shift toward a longer-term bullish structure. However, ETH is now consolidating just above this level, indicating a pause before a possible move higher or lower.
Daily Time Frame
ETH is in range-bound consolidation for over 25 days, supported by the rising 21-day EMA ($2,570) and capped by the 200-day SMA ($2,675). This tight compression between moving averages suggests a build-up before a major move. The 21EMA is trending up, showing short-term bullish momentum, but price is struggling to break through overhead resistance.
Upside Scenario
A decisive breakout above $2,675–$2,700, with strong volume, could send ETH toward the next resistance zone between $3,100 and $3,300 — a previous area of heavy seller interest.
Downside Risk
If Ethereum breaks down from the current range and loses the 200-week SMA ($2,450), the next key levels to keep an eye on are:
- $2,150–$2,200 zone: A key weekly demand zone that could offer a potential bounce if the correction deepens.
- $1,900–$2,000: A strong horizontal support and major psychological level — this area may act as a safety net during a broader market sell-off.
Upcoming Events to Watch
Aptos Token Unlock (June 12)
Aptos will unlock 11.31 million APT tokens, valued at approximately $66.5M, which may draw investor attention as the network expands its DeFi and Web3 ecosystem.
Inflation Data
The US PPI report (June 12) will provide critical inflation insights, with lower-than-expected figures potentially lifting crypto prices by boosting risk-on sentiment.
FOMC Meeting (June 17–18)
With a big chance of rates holding at 4.25%–4.5% on June 17–18, a dovish outcome could support crypto market stability, while hawkish signals may temper enthusiasm.