The cryptocurrency market digest (BTC). Overview for 02.06.2023


The BTC is holding near 27,179 USD on Friday.

While there are no clear purchases, the support at 26,000 USD remains relevant. For the market to return to the strong growth zone, it needs to secure above 29,800 USD. Today's trading day can be quite volatile due to the volume of important statistics from the US.

The capitalisation of the cryptocurrency market has increased to 1.144 trillion USD. The share of BTC dropped to 46.0% while the share of ETH rose to 19.9%.

TON wants to burn 50% of transaction fees

The TON Foundation intends to introduce a mechanism to burn 50% of transaction fees on its network. In this way, a certain deflationary effect could be achieved. However, observers believe that the impact will be insignificant.  

BTC miners earned 900 million USD in May

Bitcoin miners earned more than 900 million USD in May. The figure has been steadily growing since November 2022. The share of commissions in May accounted for about 13.7% of total revenue, while the indicator was at the 3.0% level in April.

Centralised exchanges see a decline in the trading volume

The daily volume of trading on the centralised exchanges, CEX, dropped to its lowest level since the end of 2020. This data was released by Kaiko. Transaction volumes have been shrinking since May 2021. The current daily volume is estimated at about 5 billion USD. This was last seen at the end of the previous bearish cycle.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.