Major events in the cryptocurrency world in June

Several events are taking place this month that could affect both the value of individual cryptocurrencies and the cryptocurrency market as a whole


Optimism Main Network Update

Optimism (OP) – Main Network Update

The Optimism main network, called Bedrock, is scheduled to be updated on 6 June 2023. During the update, the blockchain will be suspended for approximately 2-4 hours. During this time, users will not be able to make transactions and other interactions with the blockchain.

Also operators of validation nodes need to update their software to the current version to work with Bedrock. This Bedrock update aims to improve network security and resilience. And it is also expected to reduce commission costs by 47% after the Bedrock update.

IDO of Neon Protocol project on Coinlist

IDO of Neon Protocol project on Coinlist

The IDO of the Neon Protocol project will take place on 8 June on the Coinlist platform. Neon Protocol is Ethereum’s first virtual machine (EVM) on the Solana blockchain. This protocol will allow developers to create decentralised applications (dApps) that are compatible with the Ethereum network. And in doing so, gain access to fast and low-cost transactions on the Solana network.

Also here, a total of 50 million NEON tokens (5% of the total supply) will be offered for sale at $0.10 per token. Both the minimum and maximum redemption amounts are $100 and $500, respectively. Additionally, users are scheduled to receive 100% of the NEON tokens purchased during the IDO on July 17 this year. Registration for this event closed on 5 June.

Vega Protocol (VEGA) - Reducing the reward for staking

Vega Protocol (VEGA) – Reducing the reward for staking

The developers of the Vega Protocol project have announced that starting on 12 June, the fees for staking VEGA tokens are to be reduced. This will reduce inflation by reducing token issuance.

Also Vega Protocol is a decentralised blockchain-based trading platform. It allows users to create their own assets and act as both market maker and trader. The project’s IDO took place on Coinlist in early June 2021.

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One of this month’s big events is IDO of Archway project on the Coinlists

IDO Archway will take place on 15 June. The Archway project is a Tier 1 blockchain. It uses the Proof-of-Stake (PoS) consensus algorithm and is powered by the Cosmos SDK. It also aims to provide developers with a user-friendly platform. Which rewards them for creating decentralized universal (cross-chain) decentralized applications (dApps).

And a total of 30 million ARCH tokens (3% of the total offer) will be offered for sale at $0.20 per token. Also the minimum and maximum amounts for redemption are $100 and $1000 respectively. It is planned that users will receive 25% of the redeemed tokens after 40 days of locked up. And the remaining tokens will be distributed evenly over the next 8 months. Registration for IDO Archway will close on 12 June. In our opinion, this is one of the important events of this month

Unlocking Blur tokens (BLUR)

Unlocking Blur tokens (BLUR)

NFT-marketplace Blur will unlock 195.99 of its own $101.8m worth of BLUR control tokens on 15 June. Therefore, more than 6.5 % of the total supply of tokens will additionally enter the market.

Recognition of Bitcoin as official payment instrument in Brazil

One of the most awaited events: Recognition of Bitcoin as official payment instrument in Brazil

On 21 December 2022, President Jair Bolsonaro signed a law into law. And in which it enshrines BTC as a means of payment and an investment asset. This law will enter into force 180 days after the signing, on 16 June 2023.

Also, the Bank of Brazil will be responsible for and oversee the use of Bitcoin as a means of payment. And the Securities and Exchange Commission (SEC) will be responsible for overseeing the use as an investment asset.


Optimism (OP) tokens unlocked

Optimism (OP) tokens unlocked

Our experts note that the Optimism project will unlock 195.99 of OP own management tokens worth about $35 million. Also, this would amount to 0.56% of the existing tokens. And some of it will go to developers and some to investors.


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Six promising projects for Ethereum scaling

Crypto Upvotes experts offered to collect their investment portfolio of six tokens of promising projects for Ethereum scaling

Projects that solve the problems of scaling blockchain networks and Ethereum in particular. Now they are actively developing and attracting funding, which indicates a high interest of investors in these solutions. And expectations of growth of capitalization of this sector.

Ethereum’s transition to the Proof-of-Stake (PoS) algorithm in the network is proceeding smoothly: the problems with coin inflation and now with the withdrawal of tokens from staking with the Shapella update have been solved. But the issues of scaling the network, that is, making transactions in it faster and cheaper, have yet to be resolved.

According to the team’s plans, that will take two years. And during that time, Layer-2 projects that offer off-the-shelf extensions to scale Ethereum could cover the growing demand for the network.

Given how actively Ethereum is developing, the demand for it will only grow in the near future. Not only from within the industry, but also from external users. Who want to implement blockchain solutions with high security, speed and economy of transactions. Layer-2 solutions will obviously be in high demand in the coming months as well.

Our idea for an investment portfolio:

Buying a portfolio of tokens at current market prices in the following ratio:

This portfolio makes sense to hold till the end of the year. Since the main market movements may start in Q3-4.


The main risk for this token portfolio will be a drop in market capitalization due to fundamental negative events. Such as external – the impact of inter-market relations and macroeconomics. As well as internal, it is the strengthening of regulatory pressure and problems of the projects, tokens of which are included in this portfolio.

It is also worth bearing in mind that the May-July period is historically weak for the growth of prices for digital assets. Therefore, the main movements on tokens from the portfolio may start in the second half of this year.

Crypto-Upvotes does not provide investment advice. This material is published for informational purposes only. Cryptocurrency is a volatile asset that can lead to financial losses.

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