U.S. spot bitcoin BTC$61,875.23 ETFs ended a record 13-day streak of outflows, adding $3.05 million on Thursday after losing more than $4.4 billion in redemptions since mid-May.

The outflows, together with the plunging price of the largest cryptocurrency, dragged total bitcoin ETF assets down to $80.40 billion from $104.29 billion at the start of the streak.

It’s worth keeping in mind the size of yesterday’s inflows compared with the outflows. The $3 million figure is less than any single day of outflows during the period, which mostly saw exits above $100 million.

BlackRock’s IBIT, the largest fund in the category, received $47.66 million on Thursday, while Fidelity’s FBTC, Bitwise’s BITB and Ark’s ARKB continued to bleed, SoSoValue data shows.

The total bitcoin assets under management (AUM) in the investment vehicles stand at 1.277 million BTC, about 7.2% below the October record, according to CheckonChain. That is slightly above the Feb. 23 low of 1.274 million BTC, reached as the price of bitcoin recovered from its February trough near $60,000. Bitcoin fell to $63,800 on Thursday after rising as high as $64,660.

Spot ether(ETH) ETFs also ended a streak of outflows, taking in $19.30 million after 17 days of redemptions. BlackRock’s ETHA benefited from the influx, with every other ether ETF logging zero net flow.

Total ether ETF assets sit at $9.78 billion, or 4.57% of ether’s circulating market capitalization, with cumulative inflows since the 2024 launch at $11.21 billion. The category remains roughly $2 billion below its asset peak from earlier in the year.

Meanwhile, Hyperliquid’s HYPE ETFs were the only investments to avoid outflows during the period. The three ETFs took in another $12.15 million on Thursday, extending a run of inflows that started with their debut on May 12. Grayscale’s low-fee HYPG fund pulled $4.70 million on its first day of trading.

On Friday, Bitcoin fell 1.7% to $62,700, ether dropped to $1,670 and the broader risk picture deteriorated as the global AI trade rolled over on Broadcom’s outlook miss and a 4.7% selloff in South Korea’s KOSPI index.

CORRECT (June 5, 10:09 UTC): Corrects day to Thursday in first paragraph and elsewhere.

How Protocols Buy Attention and Convert It Into Liquidity

Introduction

For years, the crypto industry has described Decentralized Finance (DeFi) as an alternative financial system built on transparency, permissionless access, and code-based trust. While those principles remain true, they no longer explain how most modern DeFi protocols actually grow.

The reality is simpler:

DeFi is increasingly an attention market.

Liquidity does not magically appear because a protocol is technologically superior. Users rarely discover projects through technical whitepapers. Capital flows toward visibility, narratives, incentives, and social momentum.

In many cases, protocols effectively purchase attention and convert it into liquidity.

Understanding this dynamic helps explain everything from liquidity mining programs and airdrops to influencer campaigns and token incentives.

The New Currency: Attention

Attention has become one of the most valuable assets in digital economies.

Every day, thousands of crypto projects compete for visibility across X, Telegram, Discord, YouTube, podcasts, newsletters, and on-chain analytics platforms.

The challenge is not building a protocol.

The challenge is convincing people to care.

A protocol can have innovative technology, robust security, and strong fundamentals, yet struggle to attract liquidity if nobody is paying attention.

Conversely, projects with mediocre products can attract massive capital inflows when they successfully dominate narratives.

This is because attention often arrives before trust.

And liquidity often arrives before utility.

The Attention-to-Liquidity Funnel

Most successful DeFi growth strategies follow a similar process:

Step 1: Capture Attention

Protocols create awareness through:

• Airdrops
• Yield farming campaigns
• Influencer partnerships
• Community incentives
• Referral programs
• Viral social content
• Trading competitions

The goal is simple:

Get users talking.

Step 2: Generate Participation

Once attention is captured, users are encouraged to interact with the protocol.

Examples include:

• Depositing assets
• Providing liquidity
• Staking tokens
• Opening leveraged positions
• Minting NFTs
• Participating in governance

Participation creates measurable metrics that can be shared publicly.

Step 3: Create Social Proof

As activity grows, new users see:

• Rising TVL
• Growing user counts
• Higher trading volume
• Trending token prices

These metrics signal momentum.

Momentum attracts additional attention.

The cycle reinforces itself.

Step 4: Convert Attention Into Liquidity

Eventually, attention becomes capital.

Users move funds into the ecosystem because they believe:

• Rewards are attractive
• Growth will continue
• The protocol has momentum
• Future incentives may exist

At this stage, attention has been successfully monetized.

The protocol has transformed visibility into liquidity.

Liquidity Mining Was the First Attention Engine

The concept is not new.

Liquidity mining emerged during the DeFi Summer of 2020 as one of the industry’s most effective mechanisms for acquiring attention.

Protocols distributed governance tokens in exchange for user participation.

Critics viewed this as expensive.

In reality, protocols were buying attention.

The rewards attracted users.

Users generated activity.

Activity created headlines.

Headlines generated more users.

Liquidity mining was essentially a customer acquisition strategy disguised as financial incentives.

Airdrops Are Marketing Budgets

Many people view airdrops as gifts.

Protocols view them differently.

Airdrops are marketing expenditures.

Instead of purchasing advertisements through traditional channels, projects distribute tokens directly to users.

The result is often more effective because recipients become:

• Users
• Community members
• Content creators
• Advocates

A successful airdrop converts thousands of individuals into active marketers.

Every speculative post, tutorial thread, and dashboard screenshot amplifies attention.

Why Attention Is More Valuable Than Capital

Traditional finance treats capital as a scarce resource.

In crypto, attention is often scarcer.

Billions of dollars can move between protocols within hours.

User attention, however, is limited.

A trader can only monitor a handful of opportunities at a time.

An investor can only follow a limited number of narratives.

Winning attention often precedes winning capital.

This explains why some protocols prioritize growth campaigns even when immediate profitability suffers.

Their objective is not today’s revenue.

Their objective is to become the narrative everyone watches tomorrow.

The Risks of Attention-Driven Growth

While attention can accelerate growth, it can also create fragility.

Protocols that rely exclusively on incentives often face several challenges:

Mercenary Capital

Users arrive for rewards rather than conviction.

When incentives disappear, liquidity leaves.

Unsustainable Economics

Excessive token emissions can dilute long-term value.

Protocols may spend more acquiring liquidity than they ever earn from it.

Narrative Dependency

Attention is temporary.

Markets constantly search for the next story.

Protocols that fail to build genuine utility eventually lose relevance.

Artificial Metrics

TVL and user counts can be inflated by short-term incentives.

High numbers do not always reflect healthy ecosystems.

The Future: Attention Plus Utility

The strongest DeFi protocols understand that attention is only the beginning.

Attention attracts users.

The utility keeps them.

The next generation of successful protocols will combine:

• Strong incentives
• Sustainable revenue models
• Product-market fit
• Real user demand
• Long-term ecosystem value

Rather than continuously buying attention, they will convert temporary attention into permanent network effects.

Conclusion

The evolution of DeFi reveals a simple truth:

Protocols are no longer competing solely on technology.

They are competing for attention.

Liquidity mining, airdrops, referral programs, and social campaigns are not random growth tactics. They are mechanisms for acquiring visibility in an increasingly crowded market.

The protocols that understand attention as a financial asset gain a significant advantage. But attention alone is not enough.

In the long run, the winners will be the protocols that successfully transform attention into liquidity, liquidity into utility, and utility into lasting value.

In that sense, DeFi is not just a financial market.

It is an attention market where visibility is the first asset, liquidity is the second, and sustainable value is the ultimate prize.

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Cloud mining regains momentum as platforms like SHRMiner simplify access to digital asset participation.

The cryptocurrency market has changed dramatically over the past year.

While Bitcoin continues to attract long-term holders, rising mining difficulty, increasing electricity costs, and expensive ASIC hardware have made traditional mining inaccessible for most retail users. As a result, cloud mining platforms are once again becoming a major topic across the digital asset industry.

Industry analysts note that cloud mining is increasingly viewed as a lower-barrier alternative for investors seeking exposure to Bitcoin mining economics without managing physical infrastructure. At the same time, many long-term BTC and XRP holders are exploring ways to put idle digital assets to work instead of relying solely on market appreciation.

As 2026 unfolds, several platforms have emerged as leading choices for users looking to access mining rewards through hosted infrastructure and managed computing power.

Why cloud mining is regaining momentum in 2026

The economics of mining have changed.

Years ago, individuals could mine Bitcoin from home with relatively simple setups. Today, industrial-scale facilities dominate the industry, benefiting from lower energy costs, specialized hardware, and sophisticated infrastructure.

For many users, purchasing mining equipment no longer makes practical sense. Hardware costs can reach thousands of dollars before electricity, maintenance, and cooling expenses are even considered.

This has created growing demand for platforms that provide transparent contracts, daily settlements, and simplified onboarding without requiring technical expertise.

More importantly, investors are increasingly looking beyond short-term trading. Instead of attempting to predict every market movement, some are exploring infrastructure-backed participation models that can potentially generate returns regardless of day-to-day volatility.

The 6 best cloud mining platforms in 2026

1. SHRMiner

Among the platforms attracting growing attention in 2026, SHRMiner has differentiated itself through its AI-powered computing allocation model and simplified user experience.

Unlike traditional providers focused exclusively on hash-rate rentals, SHRMiner emphasizes automated participation, daily settlements, and accessibility for users who do not want to purchase hardware or manage technical infrastructure.

The platform supports multiple digital assets, including XRP, BTC, ETH, DOGE, USDT, USDC, SOL, LTC, and BCH, allowing users greater flexibility when allocating capital.

Investors interested in learning more can explore SHRMiner’s AI computing power platform.

How to get started with SHRMiner

Step 1: Claim the limited-time $15 registration bonus

Getting started takes less than 15 seconds.

Through SHRMiner’s exclusive welcome bonus campaign, new users currently receive a $15 trial computing allocation, allowing them to experience the platform without purchasing hardware or making a large upfront commitment.

Many users use this bonus to test the platform’s automated settlement system and gain firsthand experience before exploring larger allocations.

Step 2: Choose a computing power plan

Users can select a plan based on their preferred budget and income objectives.

Multi-asset support includes XRP, BTC, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.

Additional plan details are available through SHRMiner’s AI computing contract catalog.

Step 3: Start earning daily rewards

Once activated, computing resources are automatically allocated and earnings are settled daily.

Users do not need to purchase mining equipment, maintain servers, or manage technical operations.

Funding protection remains a major attraction for many users: all contracts return the original principal upon maturity, helping reduce risk while maintaining exposure to mining-based returns.

2. BitFuFu

BitFuFu remains one of the industry’s most recognized cloud mining providers and continues to expand its global mining footprint.

The company offers a broad range of contract durations, transparent mining calculations, and infrastructure designed specifically for Bitcoin-focused users. Its large-scale mining capacity and established reputation continue to attract investors worldwide.

3. Bitdeer

Bitdeer remains a major player in the cloud mining industry.

Founded by industry veterans and backed by substantial mining infrastructure, Bitdeer provides users access to industrial-scale operations without requiring ownership of physical hardware.

4. NiceHash

NiceHash operates a unique hash-power marketplace rather than relying solely on traditional mining contracts.

Users can buy and sell computational power based on market conditions, making the platform particularly attractive to more experienced mining participants.

5. ECOS

ECOS has maintained a strong presence in the sector through its integrated ecosystem.

The platform combines cloud mining services with wallet functionality, portfolio management tools, and exchange access, creating a more comprehensive environment for long-term users.

6. Binance cloud mining

As part of the broader Binance ecosystem, Binance Cloud Mining offers users another pathway to participate in mining-related activities while remaining within one of the industry’s largest digital asset platforms.

For users already utilizing Binance products, this integration can provide additional convenience and operational simplicity.

Final thoughts

Cloud mining is no longer a niche corner of the cryptocurrency industry.

As mining infrastructure becomes increasingly professionalized, more investors are choosing platforms that remove the operational barriers traditionally associated with Bitcoin mining.

Whether users prioritize flexibility, institutional infrastructure, ecosystem integration, or AI-powered computing allocation, 2026 offers more choices than ever before.

For many long-term digital asset holders, the conversation is shifting from simply holding BTC or XRP toward discovering additional ways to put idle capital to work. In that environment, platforms like SHRMiner, BitFuFu, Bitdeer, NiceHash, ECOS, and Binance Cloud Mining are likely to remain at the center of industry attention throughout 2026.

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America’s biggest banks, including JPMorgan, Citi and Bank of America, plan to build a shared, tokenized deposit network by the first half of 2027 to protect their deposits from the threat posed by stablecoins, the Wall Street Journal reported.

The system will be operated by The Clearing House, the payments company collectively owned by the banks. Some banks are calling the network “the bridge,” others call it “the chain,” the WSJ said.

Tokenized deposits are blockchain representations of customers’ money held at a bank. The planned system will convert these deposits into a digital token that can be transferred swiftly on a blockchain.

Stablecoins are dollar-pegged digital assets issued by crypto companies that live outside the traditional banking system. The Clarity Act legislation currently advancing through Congress could allow them to pay returns to holders, potentially making bank deposits less attractive because the tokens also offer faster, cheaper payment capabilities over a blockchain.

If customers adopt stablecoins at scale, banks could face a deposit flight to crypto wallets, and deposits are what banks rely on to extend credit in the economy. The tokenized deposit network is designed to ensure deposits remain within the banking system while giving them crypto-like capabilities.

The WSJ report said the Clearing House expects large multinationals to embrace the tokenized deposit network as a gateway to programmable treasury options, real-time liquidity management and cross-border payments.

“This is a big move for the banks,” CEO David Watson told the newspaper, describing a “radically different” future around onchain payments.

The price of ZEC fell on Thursday after further details were disclosed of a critical counterfeiting vulnerability in Zcash’s Orchard pool that could theoretically allow a bad actor to mint an unlimited amount of ZEC.

According to a post on X, security engineer Taylor Hornby, who was engaged by Shielded Labs, discovered the bug on May 29 and disclosed it to the Zcash Open Development Lab (ZODL), which deployed an emergency response to fix the vulnerability with a hard fork activated on June 3. 

However, there are new concerns about the extent to which the vulnerability, which has existed since May 2022, has been used, leading Zcash to fall more than 30% over the past 24 hours to $410 at the time of writing. Its market capitalization has shrunk by more than $3 billion.

However, BitMEX co-founder Arthur Hayes said on Friday it is unlikely that ZEC has been illegally minted this way, though he acknowledged “it cannot be formally cryptographically proved impossible.”

“Sadly, due to the Orchard Pool exploit, I had to dump our entire ZEC bag,” he said.

“The Holy Trinity is dead,” he added, referring to Zcash and the two other tokens he sold this week, Hyperliquid (HYPE) and Near Protocol (NEAR).

ZEC crashes 30% in 24 hours after two months of solid gains. Source: TradingView

Claude assists in bug discovery 

Taylor used Claude Opus 4.8, which was released on May 28, a day before the discovery, to assist in a highly targeted review of the Orchard circuit, the cryptographic component underlying Zcash’s Orchard shielded pool.

The critical bug allowed false inputs into an elliptic curve multiplication check, which means the math that is supposed to cryptographically verify transactions could be fooled.

Taylor built and tested a working exploit, which generated unlimited counterfeit ZEC. 

“If he had run the same tool on Zcash mainnet it would have generated unlimited, undetectable counterfeit ZEC in his mainnet Zcash wallet,” the security researchers said on Friday. 

The primary concern is that there is no cryptographic way to prove whether anyone had previously exploited it before it was patched, due to Orchard’s privacy properties. 

However, Shielded Labs was “not overly concerned” because the bug was subtle enough to evade years of expert review, and the discovery was a deliberate, highly skilled effort using cutting-edge tools and AI.

Related: Crypto exploit losses in May fall 90% over month to $68M: CertiK

The firm is working with Zcash developers on a proposed network upgrade to allow anyone to verify the integrity of the ZEC supply and to prove the nonexistence of counterfeit tokens in the Orchard pool, they stated. 

Not the first counterfeiting vulnerability for Zcash

Mert Mumtaz, co-founder and CEO of Solana tooling firm Helius, said that almost all privacy protocols have a variant of this same vulnerability. 

“This same FUD comes back every five months as new people learn how privacy pools work,” he said. 

He explained that it is a theoretical risk in most zero-knowledge privacy protocols from circuit bugs that are hard to exploit or detect.

This is not the first time a similar vulnerability in Zcash has been discovered. In 2018, a counterfeiting vulnerability in the cryptography underlying zk-proofs was discovered by the Electric Coin Company, which remediated it with no losses in 2019. 

Magazine: Big Questions: Do we really only need 2–5 cryptocurrencies?