2024 June - Things to Look Out For 👀

The month of June heralds the midpoint of the year and also takes us to the end of Q2 2024. As ever, the space continues to move forward at a relentless pace and we’ve selected some of the key developments, events, and announcements to keep an eye on over the coming four weeks.

Key Events

This month’s key events occur within the first two weeks with Ethereum and Web3 developers, builders, and enthusiasts focused on the ETH Belgrade Conference starting on June 3, and taking place over a three day period in Serbia. Mina Protocol and The Graph are set to complete significant network and protocol upgrades while the AI trio of Fetch.ai, Ocean Protocol, and SingularityNET will finalize the merging of their respective tokens (FET, OCEAN, AGIX) into the ASI token. The final process begins on June 11 and completes on June 13 to herald the emergence of the ASI Alliance which will move forward as one single entity.

▫️ June 3 to 5 - ETH Belgrade Conference takes place
▫️ June 4 - Mina Protocol’s Berkeley upgrade scheduled for completion
▫️ June 5 - TAIKO TGE & Airdrop/allocation period & token listing on Bybit
▫️ June 12 - The Graph Sunbeam Upgrade completion
▫️ June 13 - zkSync token airdrop expected to take place
▫️ June 13 - ASI token merger fully completed

Token Unlocks

June sees a number of projects proceed with significant token unlocks and Arbitrum leads the pack in terms of token value with approximately $103M worth of ARB tokens to be unlocked on June 16. Aptos comes close with a June 12 unlock of approximately $100M worth of APT, while Space ID leads the way in terms of the percentage of circulating supply to be unlocked with 18.23% of circulating ID to be released on June 22.

▫️ June 12 - Aptos, $100M (2.59% of circ. supply)
▫️ June 14 - ImmutableX, $55M (1.72% of circ. supply)
▫️ June 15 - StarkNet, $75M (4.92% of circ. supply)
▫️ June 16 - Arbitrum, $103M (3.2% of circ. supply)
▫️ June 22 - Space ID, $56M (18.23% of circ. supply)
▫️ June 30 - Optimism, $77M (2.88% of circ. supply)

📣 June 2024 Weekly Update #1

June 3rd - 9th Recap:
▫️ Australia's first spot Bitcoin ETF with direct BTC holdings went live on Tuesday
▫️ FTX settled a $24B tax claim with the IRS for $200M in bankruptcy court
▫️ Thailand’s SEC approved the nation’s first spot Bitcoin ETF
▫️ Robinhood announced plans to buy established crypto exchange Bitstamp in $200M deal
▫️ US spot BTC ETFs post a record 19 consecutive days of positive inflows worth approximately $4Bn
▫️ European Central Bank (ECB) and Bank of Canada cut interest rates to 3.75% and 4.75% respectively

🔼 Bitcoin Weekly High: $71,713
🔽 Bitcoin Weekly Low: $67,635

🔼 Ethereum Weekly High: $3,874
🔽 Ethereum Weekly Low: $3,670

June 10th to 16th Upcoming Events:
▪️ June 12 - The Graph Sunbeam Upgrade to be completed
▪️ June 12 - Aptos, $100M token unlock
▪️ June 12 - US CPI Inflation data announcement for the month of May*
▪️ June 13 - zkSync token airdrop expected to take place
▪️ June 13 - ASI token merger to finalize
▪️ June 13 - Arweave to launch AO token
▪️ June 14 - ImmutableX, $55M token unlock
▪️ June15 - StarkNet, $75M token unlock
▪️ June 16 - Arbitrum, $103M token unlock

*Nota Bene:
Tuesday, June 12. The US CPI Inflation data announcement for the month of May may lead to overall market volatility as it is seen as a key signal regarding the ongoing inflation rate. The official rate came in at 3.4% annualized for the month of April, and anything lower than 3.4% annualized will be taken positively by the markets and viewed as a possible move towards inflation normalizing closer to the Fed's long-term target of 2%.