Over the last 48 hours, millions of dollars have been liquidated in the cryptocurrency market due to tensions between U.S. President Donald Trump and billionaire businessman Elon Musk. Their public dispute has caused markets to end the week on a bearish note.

However, a weekly report from the cryptocurrency exchange Binance indicates that investors are cautiously optimistic, with growing confidence in a soft landing and a slowly cooling economy. Still, they remain sensitive to inflation risks and signals from the Federal Reserve.

Trump-Musk Feud Shakes Markets

Bitcoin (BTC), which has mostly consolidated between $104,000 and $106,000 since the beginning of the week, fell below $101,000, tumbling to a multi-week low amid the Trump-Musk feud. Ether (ETH) also took a hit, briefly falling below $2,400.

Besides the struggling prices of BTC and ETH, their balances on crypto exchanges recorded significant drops in the first few days of the month. Since the start of May, the metric tracking the two biggest digital assets has plummeted 4.3% and 7.5%, respectively.

This plunge in supply has marked new yearly lows for the balances of BTC and ETH held on exchanges. Binance believes this could be a sign of accumulation because investors are moving their assets off trading platforms.

Moreover, bitcoin’s correlation with equities and gold has continued to hold. The two-month BTC–S&P 500 correlation rose to 0.49 from last week, while the cryptocurrency’s correlation with gold climbed to 0.09.

ETFs Gain Institutional Traction

On the brighter side, crypto exchange-traded funds (ETFs) are gaining institutional traction, which can be attributed to some recent regulatory reforms. Towards the end of May, the Securities and Exchange Commission (SEC) issued guidance stating that staking activities on Proof-of-Stake (PoS) networks do not constitute securities transfers. From then on, crypto ETF providers could incorporate staking rewards into their offerings.

Building on the same momentum, the multinational finance giant JPMorgan announced two days ago that it would allow clients to use crypto ETF shares as collateral for loans.

Notably, Circle, the stablecoin issuer behind the USD Coin (USDC), launched its initial public offering (IPO) on the New York Stock Exchange (NYSE). The firm raised $1.5 billion for the IPO by selling 34 million shares at $31 each.

However, the 220 million outstanding shares disclosed in its June 2 filing with the SEC said the valuation stood at $6.9 billion. At the time of writing, the firm had a market capitalization of at least $20 billion, following the skyrocketing of its shares on the NYSE after the listing.

This week, we examine Ethereum, Ripple, Cardano, Solana, and Hype in greater detail.

Ethereum (ETH)

Ethereum had another flat week in terms of price action, ending it with a minor loss of 1%. The price has been moving sideways since early May, holding just above the key support at $2,400.

This long consolidation could signal some indecision from market participants, but it can also be the precursor of a major move later on. The recent re-test of the key support could be a sign of weakness, and another drop to that level could lead to a breakdown.

ETH had a fantastic performance in April, but its momentum suddenly stopped in May and June. Volume is declining, and this could give sellers an opportunity to push the price back towards $2,000 if $2,400 falls.

Ripple (XRP)

XRP closed the week with a modest 2% gain. This comes after the price nearly touched the $2 support level. Ideally, buyers return here to take this cryptocurrency back to $2.3, which is currently acting as a resistance.

Similarly to Ethereum, volume has been declining since the start of the year. This explains the low volatility and lack of strength to sustain a rally that can see XRP revisit $3, as in January.

Looking ahead, the momentum indicators are turning flat and give no clear direction, considering the price has been bouncing between $2 and $2.6 for over three months. Until XRP breaks away from this range, don’t expect any major changes.

Cardano (ADA)

ADA has had a disappointing year so far. Since January, its price has fallen by over 40% from its highs around $1. While the asset found good support at $0.64, buyers failed to move it much beyond this level at the time of this post. This is why the price is similar to last week.

Ideally, ADA will hold above $0.64 and make its way towards $0.90, which is the most important resistance on the chart. However, if the overall market remains undecided or turns bearish, it is unlikely ADA can sustain an uptrend.

Looking ahead, Cardano appears to have found a local bottom at $0.64, but this still appears fragile. Bulls really need to break above $0.90 to restore confidence in a sustained rally.

Solana (SOL)

Solana suffered a major defeat this week when its price fell below the support at $152. At the time of this post, buyers are trying to reclaim this level, but it is too early to call it. SOL also closed the week with a 2% loss.

The next few days are critical for this cryptocurrency because bulls are on the defensive, and any weakness could see sellers take SOL towards $130 next. If so, the current downtrend will be reinforced.

Solana may fall to $130 or even $100 if the price action does not turn around soon. The odds are against it, considering the 3-day MACD did a bearish cross on Friday. This is a major bearish signal.

Hype (HYPE)

HYPE closed the week with a 7% gain, which makes it the best performer on our list. This comes after HYPE was listed on several major exchanges such as Binance, Bybit, and OKX.

While this news was bullish in the short term, the price action seems to show the opposite. Based on the weekly candles, we can see that HYPE appears to have topped around $40 and is making lower highs since then. This could be the start of a longer consolidation or pullback around $30.

Looking ahead, HYPE remains a very competitive coin that has reached the top 10 altcoins by market capitalization if we exclude stablecoins. This is an impressive achievement, but also shows that exponential growth from here on will be more difficult, considering its $11 billion market cap.

[PRESS RELEASE – Dublin, Ireland, June 7th, 2025]

AB DAO announced that its native token $AB officially began trading on Binance Alpha—Binance’s early-access, exclusive listing platform. What strategic considerations led AB to choose Alpha, and what role does this phase play in the “AB Anywhere” cross-chain asset vision? This report delves into the AB team’s rationale and plans. Users can refer to the official Binance announcement: https://x.com/binance/status/1931229650543583317)

Putting Technology and Liquidity to the Test on Alpha

For any emerging blockchain network, a first exchange listing is a comprehensive trial of both technology and operations. Although the AB team has conducted multiple internal and third-party security audits on AB Core and the AB Connect cross-chain protocol, real-world user environments often hide unforeseen risks. By listing on Binance Alpha—where contracts undergo Binance’s rigorous security review—the team can identify on-chain performance bottlenecks and deploy optimizations rapidly. Alpha’s user base is targeted and highly active, with a penchant for exploring new projects. By observing their trading behavior and cross-chain experiences in real time, the AB team can make iterative improvements and preempt potential issues.

Partnering with Binance to Elevate AB’s Global Influence

As a leading exchange, Binance boasts hundreds of millions of users and a mature risk-management system. Early collaboration with Binance allows AB to secure concentrated, high-quality media coverage and community attention during the Alpha phase.

High-performance modular network: AB Core mainnet is live, supported by AB IoT sidechain and the AB Connect protocol for seamless cross-chain interoperability.

Multi-chain wallet: AB Wallet already supports BSC️AB transactions and multi-asset management.

Global, multi-language community: AB’s English, Chinese, Japanese, Korean, Thai, Indonesian, and Vietnamese communities exceed ten million users.

Decentralized philanthropy: The AB Foundation’s global charity initiatives have earned Binance’s endorsement, further boosting AB’s brand reputation.

Refinement through Diverse, International Feedback

From the outset, AB has pursued a global mindset. Following the Alpha listing, regional communities sprang into action, providing diverse feedback that has been instrumental in data-driven product improvements—especially for AB Wallet. Next, the team will launch a small-scale on-chain governance trial on the testnet, inviting early token holders to vote on a minor charity donation proposal. This exercise, now successfully completed, lays the groundwork for future governance and strengthens community trust.

Future Outlook: Becoming the Ubiquitous Cross-Chain Asset

With Alpha behind it, AB’s roadmap is clear:

Technical expansion: In H2 2025, complete bilateral integrations with additional blockchain ecosystems to extend the “AB Anywhere” footprint, while employing strategies to reduce cross-chain transfer costs and boost capital efficiency.

Governance enhancements: Building on the pilot proposal, AB DAO will refine its proposal and voting workflows. The AB Foundation will enhance on-chain mechanisms to sustain donor confidence in transparency and impact.

Having amassed technical and operational know-how in the first half of the year, the AB team is poised to enter the global mainstream market with maturity. AB will soon fulfill its vision as the truly “ubiquitous cross-chain asset.”

About AB

AB is a high-performance, modular, heterogeneous blockchain network. Its native token $AB is deployed across chains via AB Connect, realizing the “AB Anywhere” concept. AB focuses on driving stablecoin issuance, payment network infrastructure, and decentralized philanthropy—building an open, trusted global value infrastructure.

Website: https://ab.org

Global Community: https://www.ab.org/community