Cryptocurrency asset managers Pantera Capital and Arrington XRP Capital have co-led a $5.8 million private investment round for Unbound Finance, an up-and-coming DeFi treasury protocol for pooled tokens. The funds will be used to further develop Unbound Finance’s cross-chain stablecoin platform, including the development of native bridges for instant transfers between its native UNB stablecoin and other synthetic assets, the company announced Wednesday. Unbound Finance operates a so-called “liquidation-free collateralization platform,” which, as the name suggests, allows users to obtain interest-free loans against collateralized tokens. Automated market makers are “DeFi's Zero to One Innovation and we are building the aggregator layer to enable greater yields [and] capital efficiency for our users,” said Tarun Jaswani, CEO and Founder of Unbound Finance. There are some serious backers behind Unbound Finance’s $5.8 million raise. In addition to Pantera Capital and Michael Arrington’s XRP Capital, the project received direct funding from Hashed, Coin98 Ventures, LedgerPrime, CMS Holdings and many others. Over a dozen angel investors also participated in the raise, including the founders of Angelist, Enjin, Gnosis, Kyber Network, Polygon, Harmony, Polkastarter and others.Source

Ethereum extended its decline and it traded close to $2,300 against the US Dollar. ETH price is now recovering and it could start a strong increase if it clears $2,550.
Ethereum extended its decline below the $2,400 and $2,300 support levels. The price is now well below $2,600 and the 100 hourly simple moving average.
There is a major bearish trend line forming with resistance near $2,480 on the hourly chart of ETH/USD (data feed via Kraken).The pair is likely forming an inverse head and shoulders pattern with resistance near $2,550.Ethereum Price Could Rise SteadilyEthereum failed to stay above the key $2,550 support level, and it extended its decline. ETH traded below the $2,440 and USD 2,400 support levels.It even broke $2,350 level and settled well below the 100 hourly simple moving average. A low is formed near $2,313 and the price is now correcting higher. It broke the $2,400 resistance level. Ether also climbed above the 23.6% Fib retracement level of the of the recent drop from the $2,850 swing high to $2,313 low. However, the price is now facing a strong resistance near $2,500. There is also a major bearish trend line forming with resistance near $2,480 on the hourly chart of ETH/USD.Source

Binance, the world’s largest cryptocurrency exchange, extended its dominance of the industry during a record trading frenzy in May. The exchange handled some $1.5 trillion of spot trades in May, a 63% increase from April, according to a report by CryptoCompare. That compares with an average increase of 39% for the 15 largest top-tier crypto exchanges. Huobi, the closest competitor, saw its spot volume slip by 6% to $271 billion. The bitcoin price fell some 35% in May, the biggest monthly drop since November 2018, and the correction prompted a flurry of activity as investors rushed to reposition. Read more: Cayman Islands, U.S. and Gibraltar Are Top Crypto Hedge Fund Jurisdictions.Binance also extended its lead in the market for crypto derivatives in May, with a monthly trading volume of $2.46 trillion, up 49% from April levels. No. 2 OKEx saw a 51% increase to $999 billion, followed by Bybit’s $574 billion, up 24%, and Huobi’s $536 billion, up 18.3%.Source

While Elon Musk’s recent tweets have sent the crypto market into a downturn, his company SpaceX has collaborated with SpaceChain to send an Ethereum node to the International Space Station.Ethereum Node Heads to Space
SpaceX is carrying an Ethereum node to the International Space Station.The mission is happening as part of a partnership with SpaceChain, a platform that focuses on integrating blockchain technology in space. In a Friday blog post, SpaceChain confirmed that an Ethereum node had begun its flight on a SpaceX Falcon 9 rocket. Zee Zhang, SpaceChain’s co-founder and CEO, said of the update:We are thrilled in bringing the Ethereum platform to space and validating why a decentralized satellite infrastructure created with space technologies is vital to realizing the full potential of blockchain applications.”Once the node is connected to the International Space Station, an Australian digital asset management fund called Nexus will be given direct access. The fintech firm offers blockchain and Internet of Things solutions for web-native clients. Source

Ethereum has seen some recovery in the past days, after the crypto market experienced one of its worst months since March 2020. At the time of writing, the second cryptocurrency by market cap trades at $2,823.
A recent report published by Bloomberg Intelligence’s Senior Commodity Strategist, Mike McGlone, claims that ETH is on a “higher-beta bull market path”. McGlone believes ETH could take a similar path to Bitcoin in 2017 when this cryptocurrency when from around $1,000 to $20,000.
After the recent crash, the analyst claims that the market’s speculative excesses have diminished with fundamentals still strong and bullish for the continuation of the rally. Therefore, ETH could be on track to flip Bitcoin’s market cap and take the number one spot on the crypto market. McGlone wrote. Source

On June 2, 2012, Ripple Labs co-founder Arthur Britto submitted lines of code that created 100 billion XRP tokens.
That date is considered to be the official birthday of the cryptocurrency, according to Ripple CTO David Schwartz.
Alas, the history of XRP Ledger's earliest days was erased due to a critical bug. Instead of the genesis ledger, it can only be traced back as far as ledger 32,570, which started in December 2012.
Ripple Labs was gifted 80 percent of the 100 billion pre-mine while its founders (Britto, Chris Larsen and Jed McCaleb) collectively received 20 billion tokens. Ripple currently holds 47.7 billion tokens in its escrow.
Throughout its 9-year history, XRP has had a number of ups and downs. It skyrocketed over 31,292 percent, becoming the darling of the 2017 bull run and ultimately reaching its current all-time high of $3.31 on Jan. 4, 2018.
In December, the token collapsed over 65 percent after the U.S. Securities and Exchange Commission took Ripple to court over its allegedly illicit XRP sales. In May, XRP recovered to $1.96, but it then shed its gains due to the wider market crash. Source

Data for the month of May shows that on-chain transaction volume and mining revenue figures for Ethereum hit all-time highs.
The monthly mining revenue figure hit $2.35 billion, an increase in total revenue by 42.4% compared to April. Ethereum miner transaction fees also broke past $1 billion for the first time in May, increasing 43.9% from April to reach $1.03 billion.
The revenue figure was buoyed by ETH hitting an all-time high price last month above $4,300. At press time, the price of ETH is about $2,570, per Coinbase.
The adjusted on-chain volume figure surged to a high of $666 billion, representing a 92.7% increase from April.
As noted by The Block's Lars Hoffmann in his by-the-numbers research report, May represented the first time that the on-chain volume figure for Ethereum surpassed that of bitcoin. Bitcoin’s on-chain volume declined by 8.9% in May, falling from $446.9 billion in April to $407.3 billion. Source

The Ethereum (ETH) price broke the resistance at $2,450 to resume uptrend. Since May 30, buyers have been making frantic efforts to break the minor resistance at $2,450.
Following the successful breakout, Ether price rallied on the upside to retest the resistance at $2,900. Ethereum bulls have an uphill task as they will have to push ETH to the next resistance at $2,900. The resistance at $2,900 repelled the previous uptrend. A break above $2,900 will catapult the ETH to rally above $3,200. Ether will be out of downward correction if buyers are successful. Conversely, if the bulls fail to break the $2900 resistance, Ether will fall and be compelled to a range bound move between $2,200 and $2,900. Presently, the uptrend is facing resistance at the high of $2,600. Source