Urgent Crypto News: Bitcoin Supply Crunch & Big Solana Reserve Move
Catch up on the crucial developments shaping the digital asset landscape. Today’s Crypto News brings significant updates impacting Bitcoin, Solana, and market sentiment. From shrinking Bitcoin supply potentially fueling price breakouts to unexpected turns in Trump-linked crypto projects and a major education company’s dive into Solana, here’s what you need to know.
Will Bitcoin Supply Drive a Price Breakout?
A recent report from Sygnum Bank highlights a critical trend: Bitcoin’s circulating supply is rapidly decreasing. This tightening, noted in Sygnum’s June 2025 Monthly Investment Outlook, could create conditions for future price surges as demand persists or grows. Over the past 18 months, Bitcoin’s liquid supply has reportedly dropped by 30%. This reduction is largely attributed to increased institutional adoption and the rise of vehicles designed specifically to acquire Bitcoin, such as ETFs and corporate holdings. These entities are consistently moving coins off exchanges, a trend typically viewed as bullish for price.
Since late 2023, exchange balances have fallen by about 1 million BTC. This trend is gaining speed as more funds issue equity or debt to buy Bitcoin, absorbing available supply. Geopolitical and fiscal uncertainties, including concerns about the US dollar and national debt, also push investors toward crypto markets. Furthermore, several US states are exploring or enacting legislation allowing Bitcoin reserves, with New Hampshire already signing a bill. International interest is also evident, with Pakistan and the UK’s Reform Party considering similar reserve strategies. This confluence of factors points to potential demand shocks driven by the shrinking Bitcoin Supply.
Confusion Around Trump-Linked Crypto Wallet
An announcement on June 3 regarding a Trump-branded crypto wallet caused significant confusion. The wallet, intended as the ‘Official $TRUMP Wallet by President Trump,’ was announced by NFT marketplace Magic Eden and a firm linked to the Trump Organization. However, US President Donald Trump’s sons, Eric, Barron, and Donald Trump Jr., publicly stated they had no knowledge of the project and that the Trump Organization had ‘zero involvement.’ Donald Trump Jr. later added that the family’s platform, World Liberty Financial, would launch their official wallet soon. This situation suggests potential communication issues among various Trump-affiliated businesses. The Trump Wallet website listed a partnership with Magic Eden and GetTrumpMemes.com, the latter owned by Fight Fight Fight LLC, which is co-owned by CIC Digital LLC, a company affiliated with the Trump Organization. These two companies jointly hold a majority of the supply of the Trump memecoin.
Classover Makes a Bold Move with Solana Reserve
Education company Classover is venturing into the crypto space by establishing a substantial Solana Reserve. The company plans to issue up to $500 million in senior convertible notes, dedicating 80% of the proceeds to purchasing Solana (SOL). This strategy aligns with a growing trend of companies integrating crypto into their operations alongside core business activities. According to a June 2 announcement, Classover has already acquired 6,472 SOL, valued at around $1.1 million, to begin building its reserve. The $500 million convertible note issuance is in partnership with Solana Growth Ventures. Classover provides online education for K-12 students globally. Following the announcement on June 3, its shares on the Nasdaq saw a significant intraday rise. The company indicated that the $500 million convertible notes could complement a $400 million equity purchase agreement, potentially boosting its Solana purchasing power to $900 million. This move demonstrates significant corporate confidence in the Solana ecosystem and represents a notable development in Market Analysis for altcoins.
Summary: Key Takeaways from Today’s Crypto News
Today’s Crypto News highlights several key market drivers and events:
- Bitcoin Supply Squeeze: Sygnum Bank’s report indicates a tightening liquid supply driven by institutional demand, potentially setting the stage for future price volatility and breakouts.
- Trump Wallet Confusion: An announced Trump-branded crypto wallet led to conflicting statements from the Trump family, revealing complexity in related business ventures.
- Classover’s Solana Bet: An education company is allocating significant capital, potentially up to $900 million, towards building a Solana reserve, signaling growing corporate adoption of altcoins.
These developments underscore the dynamic nature of the crypto market, influenced by institutional flows, corporate strategy, and unexpected news events.
