Zcash treasury firm Cypherpunk urged critics to \u0027please stop the FUD\u0027 and reaffirmed its commitment to building a position equal to 5% of ZEC\u0027s total supply.

Odaily Planet Daily reports that on-chain analyst Aunt Ai said ETH's dip below $1,565 triggered a liquidation. Wallet 0x34d…c4ac1 was liquidated for 15,131 ETH, which was sold into $22.6 million to repay its loan. Updated liquidation levels for the two positions are: wallet 0xc3f…931e4, which borrowed against 58,031.84 ETH, now faces liquidation at $1,555.04; wallet 0x34d…c4ac1, which borrowed against 31,537.26 ETH, now has a liquidation price of $1,458.02.

Cardano (ADA) extended its selloff, dropping 17% in the latest session and pushing weekly losses beyond 33%. The token was last priced at $0.1582, while 24-hour trading volume reached $1.1 billion, up 19.5%, according to CoinMarketCap. Selling accelerated after Cardano founder Charles Hoskinson posted a short message on social media: "I'm taking a break, TTYL." The remark was widely read as a possible exit from the ecosystem, fueling a wave of liquidation that stretched the decline to five consecutive sessions. Hoskinson later addressed the reaction in a livestream, saying he is not leaving Cardano. He said the change is limited to stepping back from social media and public-facing appearances, with no impact on his responsibilities within the project or his blockchain research work. He also distanced himself from price-driven expectations, stating: "I'm not thrilled about the idea of ADA's price going up." Despite the bearish price action, on-chain and social metrics pointed to rising engagement. Santiment data shows ADA's social dominance climbed to about 0.52%, its highest level this year. Daily active addresses reached 28,459, the strongest reading in four months, suggesting heightened community activity amid the uncertainty. Technically, the trend remains weak. ADA is trading well below its major exponential moving averages, with the 50-week EMA at $0.4139, the 100-week at $0.4967, and the 200-week at $0.5095. The RSI has fallen to 22, signaling oversold conditions, while the MACD is nearing a bearish crossover. Traders are watching $0.1500 as a key psychological support level. A sustained break below that area could expose $0.1274, aligned with the 61.8% Fibonacci retracement from the 2020–2021 bull cycle. Any rebound would first need to reclaim resistance at $0.2345 before confronting stronger overhead supply.

XRP extended losses on June 5, slipping below $1.10 intraday and marking a multi-month low, CoinDesk reported. The heaviest selling came during a volume-driven leg lower, with bids showing up near $1.09 and offering only modest stabilization. Price action suggested the bounce remained weaker than the preceding selloff. ETF flows have stayed positive. Citing market data, CoinDesk said the XRP ETF posted roughly $4 million of net inflows after its first single-day outflow in three weeks, lifting cumulative inflows to nearly $1.5 billion. Even with flows not fully turning bearish, XRP's price continued to grind lower. Broader sentiment across crypto has also deteriorated. The Fear & Greed Index has fallen into "extreme fear," reflecting rising macro-related concerns. XRP's market capitalization has dropped below $75 billion and has been overtaken by USDC. Over the past 24 hours, XRP fell from about $1.17 to $1.11, bottoming near $1.09. The sharpest move occurred around 06:00 UTC on June 5, when volume jumped to roughly 268.2 million XRP and accelerated downside momentum. The token briefly rebounded to around $1.133, failed to hold that level, then retreated to a fresh intraday low. Buyers became more visible only below $1.10. Technically, first rebound resistance is seen at $1.12–$1.13, while key support sits at $1.09–$1.10. The short-term trend remains weak, and prior support is increasingly acting as new resistance. The $1.20–$1.25 band—viewed as a buy zone only days ago—is now drawing renewed selling interest. The report added that the dip below $1.10 briefly pushed XRP into an oversold condition rarely seen in years. Oversold readings, though, do not necessarily signal a reversal, particularly in liquidation-driven declines where prices can remain pressured for longer. Market focus remains on $1.09–$1.10. A break below that area could open the door to the next downside target around $0.92, according to some analysts. To ease the current weakness, XRP would need to reclaim $1.12–$1.13 on stronger rebound volume.

Zcash (ZEC) suffered a steep one-day selloff after a newly disclosed vulnerability in its Orchard shielded pool raised concerns about potential hidden inflation. The episode has also reignited attention on privacy-by-design efforts elsewhere, with XRPL Foundation contributor and dUNL validator Vet pointing to the upcoming XRP Ledger amendment, XLS0096, as a path to "verifiable confidentiality" for the network. The Zcash issue traces back to a soundness flaw in the Orchard circuit, the zero-knowledge proof system that enables shielded transactions. Security engineer Taylor Hornby, auditing for Shielded Labs, reported finding the bug using AI-assisted formal verification after Anthropic released Claude Opus 4.8. The review flagged an underconstrained elliptic-curve multiplication check inside the halo2_gadgets crate. Zcash said the vulnerability had existed since Orchard went live in May 2022. Market reaction was swift. On June 5, 2026, ZEC dropped as much as 46% in a single session. The disclosure fueled panic selling as traders questioned the integrity of the supply. Among the sellers, BitMEX co-founder Arthur Hayes reportedly exited his entire ZEC position. At press time, ZEC was quoted at $307.30, down 42.85% over the past 24 hours. Zcash's core team moved to contain the fallout with an emergency, two-step upgrade. A soft fork on June 2 temporarily disabled Orchard transactions. A hard fork followed on June 3 to deploy new verifying keys and permanently close the vulnerability. The project also said it plans to hire additional cryptographers, develop a replacement shielded pool, and conduct a manual verification of the full coin supply. Against that backdrop, Vet highlighted XRPL's privacy roadmap, specifically amendment XLS0096, which aims to bring native privacy to the XRP Ledger while preserving auditability. The proposal uses a hybrid of EC-ElGamal homomorphic encryption and zero-knowledge proofs, keeping balances and transaction amounts encrypted to outside observers while allowing validators to mathematically verify total token supply to prevent "invisible" counterfeit issuance. The design also includes a split-balance model, separating spendable funds from an "Inbox" buffer intended to reduce the risk of wallet disruptions caused by outdated proofs. In addition, it supports selective disclosure via view keys, a feature positioned for institutional and compliance use cases where regulators can access necessary information without fully de-anonymizing activity. Supporters argue XRPL's approach could appeal to institutions by pairing confidentiality with speed, transparency, and regulatory compatibility, particularly as Multi-Purpose Tokens (MPTs) such as stablecoins and tokenized assets expand on the ledger. Disclaimer: This article is for informational and educational purposes only and does not constitute financial advice. Coin Edition is not responsible for losses arising from the use of any content, products, or services mentioned. Readers should exercise caution before taking any action.

The Winklevoss-backed Zcash treasury fell nearly 40% as markets reacted to renewed concerns that a potential privacy-related bug in ZEC could compromise transaction confidentiality.

BitMine Immersion Technologies has filed to raise $300 million through a preferred stock offering carrying a 9.5% annual dividend, positioning the proceeds to accelerate Ether accumulation and deepen its push into the Ethereum ecosystem. According to a supplement to its SEC filing, the company plans to sell 3 million preferred shares at $100 each. BitMine said dividends would be paid in cash only if declared by the board. The company also intends to pursue a New York Stock Exchange listing for the preferred shares, with a ticker to be announced if approved. The company is explicitly framing the raise as funding for additional ETH purchases and expanded exposure to staking, validator infrastructure and treasury management, reflecting a strategic tilt toward Ethereum-focused operations under Tom Lee's leadership. Unlike a common stock issuance, the preferred structure centers investor returns on a board-declared cash dividend rather than a one-time equity purchase. In its filing, BitMine cautioned that performance will be closely tied to Ether's price, staking economics, regulatory developments and counterparty risks associated with digital-asset operations. The company noted that increased ETH exposure can amplify upside as well as concentration risk. The move aligns with a broader trend of crypto-oriented public companies using preferred offerings to raise capital while maintaining a clear linkage to digital-asset exposure, with examples cited including Strategy's STRC and Strive's SATA offerings. The timing also comes as institutional interest in Ethereum has picked up following the launch of U.S. spot ETH ETFs and rising activity tied to tokenized financial products. Market observers highlighted the filing as ETH traded under pressure. At the time of the filing, Ethereum was around $1,745, down about 12% over the prior week, according to Coingecko. Some on-chain and market participants viewed the raise as an attempt to buy ETH during a softer price window and scale holdings quickly using fresh capital. Next catalysts include SEC review of the offering, the NYSE listing decision and the eventual ticker. Investors will also be watching how BitMine deploys proceeds across ETH purchases, staking and infrastructure, alongside ETH price moves and regulatory developments that could influence returns. Overall, BitMine's $300 million preferred-stock plan represents a high-yield bet on Ethereum, offering potential income while further tying the company's results to ETH and staking dynamics.

A large Hyperliquid (HYPE) withdrawal tied to a16z is drawing attention after an address moved 224,118 HYPE out of centralized exchanges over a 24-hour period, worth about $15.16 million, according to WuBlockchain. The transfer extends what appears to be a steady accumulation trend. The same entity is now estimated to hold 6.906 million HYPE, valued at roughly $322 million at current prices. For short-term traders, the immediate impact is liquidity. HYPE's circulating float is relatively limited, and removing $15 million worth of spot tokens in a single day can tighten order books quickly. Whether the address is still buying or simply reorganizing existing holdings, the practical effect is the same: supply is being pulled out of the most liquid venues. Hyperliquid launched its token in late 2024 and has quickly built a reputation as one of the fastest-growing on-chain perpetuals platforms, competing with centralized exchanges on speed and depth. A position of this size from an a16z-linked address points to a fundamentals-driven thesis rather than a short-term trade. WuBlockchain's data puts the entity's average cost around $46.70 per token. Unrealized gains are estimated at roughly $131 million, though the exact figure depends on the timing of individual acquisition batches. Market participants have become used to institutional flows through Bitcoin and Ethereum ETFs. Seeing a similar pattern in a newer DeFi token like HYPE shifts perception toward longer-horizon positioning. Tokens moved off exchanges often signal reduced near-term sell pressure and can be associated with staking, governance, or preparation for protocol-level incentives. The on-chain data shows movement, not intent. The HYPE could be headed to cold storage, a long-lock staking contract, or tied to a market-making arrangement. How the holder may ultimately deploy the tokens—including potential use as collateral or within yield strategies—remains unclear. Even so, broader market structure suggests tightening liquidity. With more supply moving into staking contracts and a continued pattern of withdrawals, HYPE's free float appears to be contracting, a setup that can magnify price swings in either direction. The episode also fits a wider shift in crypto positioning: institutional staking and long-term holding are no longer limited to major Layer 1 assets. DeFi tokens that generate real fees and offer meaningful protocol exposure are increasingly attracting the same patient capital that previously concentrated in Ethereum or Solana, with the a16z-linked HYPE wallet serving as one of the clearest visible examples.