.png){kind=logo}
Bitcoin spot ETFs recorded $396.60 million in net outflows, with BlackRock’s IBIT leading withdrawals at $342.34 million
Cardano fell to a five-year low near $0.20, while Solana dropped to a 52-week low around $66.6 amid broader crypto market weakness
Coinbase froze more than $3 million linked to a Southeast Asian crypto fraud network as part of the US DOJ’s “Disruption Week” initiative
The crypto market saw major developments as Bitcoin spot ETFs saw net outflows of $396.60 million, while Cardano dropped to a five-year low. Solana fell to its 52-week low and Hyperliquid’s trading volume jumped to a new peak. Coinbase froze more than $3 million that was tied to a Southeast Asian crypto fraud network
According to SoSoValue, the Bitcoin spot ETF saw a total net outflow of $396.60 million yesterday. The Bitcoin Spot ETF with the highest net outflow yesterday was BlackRock's ETF IBIT, with a daily net outflow of $342.34 million.
The second highest was Fidelity's ETF FBTC, with a daily net outflow of $54.26 million, and the total historical net inflow of FBTC currently stands at $10.46 billion.
The total net asset value of Bitcoin Spot ETFs is $82.83 billion, with an ETF net asset ratio of 6.36%. The historical cumulative net inflow has reached $54.26 billion.
Cardano declined 6% in the last 24 hours, trading at $0.20, its lowest level in the last 5 years.
Last Tuesday, the network’s founder, Charles Hoskinson, broadcast a message on his YouTube channel analyzing the financial situation of the digital ecosystem.
This depreciation accumulated a loss close to 70% during the last trading year. According to Hoskinson’s statements, the current financial context will lead to the disappearance of multiple companies within the ecosystem before the end of the year.
The executive pointed out that the markets present adverse conditions and projected a sequence of operational difficulties in the sector.
Hyperliquid's perpetual contract trading volume reached 6.63% of the total global centralized exchange (CEX) perpetual contract trading volume in May, setting a new historical high.
At the same time, the platform's trading volume reached 14.4% of Binance's. Data shows that markets deployed by developers supported by the HIP-3 framework generated over $62 billion in monthly trading volume in May.
Currently, global perpetual contract activity is still dominated by centralized exchanges such as Binance, OKX, Bybit, and Bitget, with Binance maintaining its lead in this area.
Also Read: Should Investors Accumulate Bitcoin During Market Corrections?
Andreessen Horowitz (a16z), identified as the largest external entity holding HYPE, has increased its holdings by 155,321 tokens valued at $11.126 million over the past 14 hours.
According to ChainCatcher, since 2026, a16z has accumulated a total of 6.754 million HYPE tokens, with a total value exceeding $312 million at an average price of $46.24 per token.
The current unrealized profit stands at $141 million.
On June 4, Coinbase froze over $3 million in cryptocurrency linked to a Southeast Asian crypto fraud network.
This operation was part of the US Department of Justice’s Fraud Section’s “Disruption Week” initiative, aimed at combating crypto fraud targeting US citizens.
Meta, Microsoft, and Starlink also participated in this effort, collectively shutting down servers and hosting infrastructure associated with the fraud network, disrupting criminal activities across more than 1.4 million social media and email accounts.
The Royal Thai Police’s Anti-Cyber Fraud Center has already carried out multiple arrests. The US Department of Justice stated that investment fraud and ‘pig butchering’ scams are the fastest-growing and most financially destructive types of fraud targeting Americans.
Solana price dropped over 27% over the past month and nearly 74% from its 2025 peak, with fresh ETF outflows and a crypto market rout sending the token to a 52-week low.
Solana price traded near $68 on June 4 after briefly touching a 52-week low of $66.6. The token was down roughly 17% on the day, 27% over the past month, and nearly 74% from its 2025 high near $258.
Solana’s downtrend intensified as the cryptocurrency market suffered another sharp sell-off, with Bitcoin slipping below $65,000 level and triggering liquidations across leveraged positions.
CoinGlass data shows more than $1.66 billion was liquidated from the crypto derivatives market over the past 24 hours, including roughly $1.42 billion in long positions.
Also Read: Why a Long Squeeze May Drive ETH Toward $1,800 and Keep Bulls Optimistic?
1. How much money flowed out of Bitcoin spot ETFs?
According to SoSoValue, Bitcoin spot ETFs saw total net outflows of $396.60 million. BlackRock’s IBIT recorded the largest daily outflow at $342.34 million.
2. Why did Cardano fall to a five-year low?
Cardano declined 6% in 24 hours to around $0.20, extending its yearly loss to nearly 70%. Weak market conditions and concerns over ecosystem stress weighed on sentiment.
3. What happened with Hyperliquid in May?
Hyperliquid’s perpetual futures trading volume reached 6.63% of global CEX perpetual volume in May, setting a new high. Its volume also reached 14.4% of Binance’s level.
4. Why did Coinbase freeze $3 million?
Coinbase froze over $3 million in crypto linked to a Southeast Asian fraud network. The action was part of the US Department of Justice’s “Disruption Week” campaign against crypto scams.
5. Why did Solana hit a 52-week low?
Solana fell near $66.6 as the wider crypto sell-off intensified and Bitcoin slipped below $65,000. CoinGlass data showed over $1.66 billion in crypto derivatives liquidations.
