Home/Guide/Market Insights/Others/MEXC Daily News (June 16)｜Most Crypto Sectors Rise, While Layer 2 and AI Sectors Decline
MEXC Daily News (June 16)｜Most Crypto Sectors Rise, While Layer 2 and AI Sectors Decline
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1. Market Overview
After several days of correction, the crypto market has begun to rebound. According to MEXC data, ETH has risen 1.04% in the past 24 hours, currently trading at $2,568.40 USDT.
For more information on crypto prices and macroeconomic trends, visit MEXC Markets.
2. Industry Data Analysis
2.1 Most Crypto Sectors Rise, Except Layer 2 and AI
According to SoSoValue, following Trump's call for a ceasefire between Israel and Iran and other factors, the crypto market rebounded after a series of pullbacks. Most sectors posted gains, with the Layer 2 and AI sectors being the exceptions, falling 0.86% and 1.06% respectively.
Meanwhile:
Other sector movements:
- Layer 1: +2.48% (Solana (SOL) +7.38%)
- PayFi: Bitcoin Cash (BCH) +5.72%, Keeta (KTA) +6.20%
- DeFi: +1.36% (Sky (SKY) +5.27%, Jupiter (JUP) +6.05%)
- CeFi: +0.72% (Hyperliquid (HYPE) +3.01%)
Sector indices reflecting historical performance:
- ssiLayer1: +1.81%
- ssiRWA: +1.60%
- ssiPayFi: +1.53%
2.2 Fear & Greed Index Hits 61 — Market Remains in “Greed” Territory
According to Alternative.me, the Crypto Fear & Greed Index rose to 61 today (up from 60 yesterday), indicating that market sentiment remains in the “Greed” zone.
3. Analyst Insights
3.1 CryptoQuant: $102K–$105K May Form New Support Zone for BTC
CryptoQuant analyst Axel Adler Jr noted that the UTXO Premium Supply Ratio peaked at 0.96 on June 11, then dropped to 0.806 within 48 hours. If the daily ratio stays below 0.80, it may trigger a classic “buy” signal, with the $102K–$105K zone possibly forming a base for a new rebound. However, a drop below $100K could intensify selling pressure.
Market Dynamics:
- Oil and gold surged amid geopolitical tensions.
- Global equities dipped following Israel’s preemptive strike on Iran.
- $360 million in long positions were liquidated across major CEXs in 24 hours.
4. Industry Headlines
4.1 Vietnam Legalizes Digital Assets with New Digital Technology Law
Vietnam’s National Assembly approved the Digital Technology Industry Law on June 14, formally recognizing crypto assets as legal under regulatory oversight, effective January 1, 2026. The law classifies digital assets into virtual assets (used for exchange or investment) and crypto assets (relying on cryptographic verification), excluding securities, digital fiat, and other regulated instruments.
The legislation also mandates cybersecurity measures and AML/CFT compliance, while supporting talent development in areas like AI, semiconductors, and digital products.
4.2 Hong Kong to Allow Stablecoin Issuers to Peg to Multiple Fiat Currencies
Hong Kong Financial Secretary Paul Chan, in his latest blog post titled “Accelerating Progress for Steady Growth,” highlighted the rapid expansion of digital assets and their growing impact on financial institutions. He noted that local banks in Hong Kong processed HKD 17.2 billion worth of transactions involving digital assets and related products last year, with digital assets under custody reaching HKD 5.1 billion by year-end.
He also pointed out that the recently passed Stablecoin Bill marks a cautious yet forward-looking step in Hong Kong’s approach to stablecoin regulation. The new framework sets a potential model for the global stablecoin market and reinforces Hong Kong’s unique role under the “One Country, Two Systems” principle as both a regulatory firewall and a sandbox for financial innovation.
Importantly, Hong Kong has adopted a more open regulatory stance by allowing licensed issuers to choose different fiat currencies as the peg for their stablecoins. This flexibility is expected to attract a wider range of global institutions to issue stablecoins in Hong Kong based on their specific use cases — a move that could significantly boost market liquidity and enhance the city's competitiveness in the digital asset space.
4.3 Brazil Imposes 17.5% Flat Tax on Crypto Gains, Ends Exemption
Brazil has abolished the tax exemption on small-scale crypto gains. Under a new temporary decree (No. 1303), a flat 17.5% tax rate applies to all personal crypto profits. Previously, gains under BRL 35,000 (~$6,300) per month were tax-exempt, and larger gains were taxed progressively, up to 22.5%.
5. Market Highlights
5.1 Metaplanet Issues $210M Zero-Coupon Bond to Buy More Bitcoin
Japanese public company Metaplanet issued a $210 million zero-coupon bond to fund further Bitcoin purchases.
5.2 Coinbase and Gemini Set to Obtain EU Crypto Licenses
According to Reuters, insiders revealed that Coinbase and Gemini will obtain EU crypto licenses from Luxembourg and Malta, respectively. However, regulators are cautious of jurisdictions with fewer oversight resources. ESMA is reviewing Malta’s licensing process and will issue a report soon.
5.3 ZKJ and KOGE Flash Crash Tied to Coordinated Liquidity Attack
According to monitoring by @ai_9684xtpa , the flash crashes of ZKJ and KOGE may have been part of a premeditated liquidation scheme. Three key wallet addresses appeared to target the unusually high trading volume and liquidity of the two tokens under the Binance Alpha context. By simultaneously pulling large amounts of liquidity and aggressively selling off holdings, they triggered sequential collapses in both tokens.
The first address, starting with 0x1A2, withdrew approximately $3.76 million worth of KOGE and $532,000 of ZKJ liquidity between 20:28 and 20:33. It then swapped 45,470 KOGE for ZKJ (worth $3.796 million) and went on to dump 1.573 million ZKJ in batches, valued at around $3.052 million.
The second address withdrew about $2.07 million in KOGE and $1.38 million in ZKJ liquidity and sold off 1 million ZKJ, worth roughly $1.948 million.
The third address received 772,000 ZKJ from the second address and conducted a full liquidation, accelerating ZKJ’s decline and effectively completing the drain on liquidity providers and holders of both tokens.
5.4 DEX Volume Grows 460% in 2 Years, Stablecoin Supply +83%
Token Terminal data shows that over two years:
- DEX trading volume surged 460%
- Active lending grew 357%
- Stablecoin supply increased 83%
5.5 Trump Media Group Files to Register Bitcoin Investment Intent with SEC
Trump Media & Technology Group (DJT) has filed with the SEC to register its intent to invest in Bitcoin, though it clarified it is not seeking to raise capital for this purpose at this time.
6. Project Updates
1）Noice: Triples reward matching for OG users; first airdrop launches July 4.
2）LayerZero: Will hold Governance Vote #2 on June 20 to decide protocol fee use for ZRO buyback & burn.
3）Fragmetric: TOPU Inc. NFT minting goes live June 18 for Solana core community.
4）GitFish: Completed 25,030 SOL refunds to 8,889 LINUX users.
5）Spout (RWA protocol): Launching on Pharos testnet.
6）Joseph Lubin: Confirms multiple token launches ahead; LINEA to issue first.
7）Privy: Integrates 0x Protocol for in-app token swaps.
8）Synthetix: Plans to sunset Base L2 deployment to refocus on Ethereum mainnet.
9）Insider: LianLian Digital may apply for stablecoin licenses in Hong Kong and Singapore.
10）Kingnet AI: Partners with Alibaba Cloud to expand into AI gaming.
7. Fundraising News
1）a16z Crypto leads $33M seed round for Yupp.
2）Anthony Pompliano plans to launch a Bitcoin investment tool, targeting $750M in funding.