The Daily Modern Market Snapshot: Thu 5 June

Majors: BTC 104k; ETH 2.6k; SOL 152

Headlines

- Memes sell off as market digests PUMP $1B raise at $4b valuation: Fartcoin -14%; WIF -10%; PENGU - 3%; PEPE -6%; MOG -7%

- JP Morgan plans to offer clients financing against crypto ETF holdings

- Circle's IPO said to be 25x oversubscribed ahead of going public today

Notable PA

- HYPE down 4% to $34

- LAUNCHCOIN +19% tp 140M

- REKT +4% to 114M

Notable Sales

- Kanbas acquires 4 XCOPYs for $1.28M

- CryptoPunk, Tassle Hat - 61.75 ETH

- CryptoPunk, Police Hat - 56.05 ETH

Web 3 Round Up

- Russia's Moscow Exchange launches BTC futures trading for qualified investors

- Binance to launch altcoin only spot liquidity program targetting smaller market makers: offers 1 bps rebates and will support 18 tokens at launch

- 3Jane announces $5.2M seed round led by Paradigm to enable first scalable credit based money market on ETH

- Plasma announce caps for XPL sale have been increased to $250M; individual deposits are limited to $50M

- MegaETH share Euphoria teaser tap to trade mobile experience

More News

- Chinese firm Webus files with SEC to raise $300M for XRP treasury

- Spanish coffee company Vanadi plans to invest over $1.1B in BTC as part of reserve strategy

- Coinbase CEO Brian Armstrong says BTC will become world reserve currency if US electorate does not hold congress accountable to reducing the deficit

Social Crypto

- Kaito ocmmunity has unlocked the full 75bps of NEWT rewards from Magic Newton: more than 50k agents have been activated

- Infinex announce snapshot for 100M uPatrons to Kaito Stakers was brought forward to yesterday's announcement tweet: future airdrops will be time weighted to reduce large market movements around drops

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