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June 16 Market Trend
I. Market Overview
BTC is adjusting, altcoins are generally falling. The on-chain trend has shifted towards the revival of old coins, which is essentially a scheme by a group of conspirators.
U.S. stocks are falling, the U.S. dollar is declining. Israel is at war with Iran.
II. Market Highlights:
1. The Trump family’s DeFi project WLFI now has a pre-market valuation of over $10 billion. The first round of financing was valued at $1.5 billion, and the second round at $5 billion. Among them, Sun Yuchen bought 3%, roughly using $45 million, making at least $300 million, and also established a good relationship with the U.S. President.
2. Major trading volume projects of BN Alpha, such as Koge and ZKJ, have plummeted. The project party is unlikely to succeed with BN spot trading, and taking advantage of retail investors' good liquidity, they are dumping their holdings. BN Alpha's trading volume has dropped by 50% from its peak.
3. The public chain SOL is rebounding, and a spot ETF is expected to pass in the near future. SOL staking leader JTO is following the trend.