Top Crypto News This Week: Sonic S2 Airdrop, SEC Roundtable, Aptos Unlocks, and More

This week’s top crypto news includes many headlines spanning various ecosystems. Narratives range from crypto airdrops and token unlocks to regulatory discussions and altcoin launches.

Beyond key US economic indicators, this week, crypto market participants can also expect volatility from the following headlines.

Sonic S2 Airdrop

Sonic, a high-performance Layer-1 (L1) blockchain, is set to unveil its S2 crypto airdrop next week. It aims to build on the success of its Season 1 airdrop, which distributed 190 million S tokens.

“S Airdrop Timeline. Season 1: Ends June 18. Season 2: Begins Immediately After Next week, we’ll release a full outline of the second season,” Sonic said in a June 7 post on X (Twitter).

As BeInCrypto reported, the S2 airdrop is expected to incentivize user engagement within Sonic’s ecosystem further. Specifically, it will reward holders of whitelisted assets and active DeFi participants through its novel Sonic Points system.

Users earn Passive Points by holding assets in non-custodial wallets like MetaMask. Meanwhile, activity Points offer double rewards for liquidity provision.

The airdrop aims to boost liquidity and foster community growth, aligning with Sonic’s mission to address scalability and interoperability challenges.

With nearly $800 million in TVL (Total Value Locked) and projects like Silo Finance and Rings Protocol, Sonic is a DeFi powerhouse.

Sonic (S) Price Performance. Source: CoinGecko

Sonic’s S token was trading for $0.3706 as of this writing, down by nearly 2% in the last 24 hours.

DeFi App Releases HOME Token

Another top crypto news this week concerns DeFi App launching its HOME token on Tuesday, June 10. The initiative marks a pivotal moment for its community-driven DeFi platform.

With 10% of the total supply allocated for cryptoairdrops, HOME will power governance, rewards, and ecosystem growth, acting as a “flywheel” for user engagement. The token aims to give users a voice in protocol decisions while incentivizing participation.

“Defi App will launch its token HOME on June 10. 10% of the total supply for airdrops,” wrote Pink Brains.

This launch positions DeFi App as a key player in decentralized finance (DeFi), emphasizing community empowerment.

SEC Hosts DeFi Roundtable

The US SEC (Securities and Exchange Commission) is hosting a roundtable on DeFi on June 9, sparking anticipation among crypto traders and investors.

The SEC said it will address DeFi as it concerns the American spirit as part of the agenda, a critical topic given the sector’s growth and scrutiny in the country. Discussions may cover compliance, investor protection, and innovation, potentially shaping future policies.

Previous roundtables have addressed real-world asset (RWA) tokenization, featuring speakers such as Paul Atkins, the sitting chairman of the securities agency.

Huma 2.0 PayFi Deposits

Huma Finance, a leading PayFi protocol on Solana, will open deposits for its Huma 2.0 platform on Wednesday, June 11. The move is expected to transform decentralized credit and payment financing.

Huma 2.0 offers permissionless, composable yield-generating strategies, tokenizing invoices and receivables to bridge TradFi and DeFi. The $HUMA token enables governance, staking rewards, and real-time settlements.

Backed by investors like Circle Ventures and ParaFi, Huma has surpassed $4 billion in transactions since its 2.0 launch. The platform’s six-layer architecture ensures fast, compliant payments.

The Season 1 airdrop, allocating 5% of the HUMA supply, has already attracted early contributors. Crypto users should prepare wallets for deposits and explore Huma’s airdrop opportunities to earn rewards.

Meanwhile, this launch strengthens Solana’s DeFi ecosystem, making Huma a project to watch for yield-focused investors.

MultiversX Barnard Upgrade Voting Begins

Meanwhile, voting for the Barnard upgrade, a major update to the MultiversX network, starts today, June 9. It introduces on-chain governance to enhance decentralization.

Barnard aims to improve scalability, security, and user participation, allowing $EGLD holders to shape the network’s future.

This upgrade strengthens MultiversX’s position as a high-throughput blockchain for dApps and NFTs. The upgrade follows MultiversX’s focus on ecosystem growth.

Voters can participate via MultiversX’s governance portal. Decisions impact protocol parameters and resource allocation. Crypto enthusiasts should stake $EGLD and engage in voting to influence the network’s trajectory.

Barnard’s success could boost MultiversX’s adoption, attracting developers and investors.

$53 Million Aptos Unlock

Also, among the top crypto news this week is that Aptos will unlock $52.7 million worth of APT tokens on Thursday, June 12. This event could impact the APT market.

Aptos Token Unlocks. Source: Tokenomist

Token unlocks often increase circulating supply, potentially causing price volatility as early investors or team members sell.

Aptos, a high-speed L1 blockchain, has gained traction for its scalability and developer-friendly ecosystem. Data from tokenomist.ai shows that 11.31 million APT tokens in particular constitute 1.79% of the circulating supply.

These tokens will be allocated to the community, core contributors, foundation, and investors. The APT price could drop if these recipients cash in for quick gains.  

Aptos (APT) Price Performance. Source: BeInCrypto

BeInCrypto data shows Aptos’ powering token, APT, was trading for $4.66 as of this writing, down by nearly 1% in the last 24 hours.