Market Trends Information June 30
1. Regulatory and Policy Trends
1. JD Coin Chain Technology: JD stablecoin has not yet been issued, any information regarding the purchase of stablecoins is false news
2. Singapore requires unlicensed crypto service providers to cease overseas services
3. Hong Kong brokers will lay out virtual asset businesses, non-bank weighted stocks benefit from policies
Opinion:
The clarification of regulatory policies will enhance market confidence and facilitate the entry of institutions. However, in the short term, it may exacerbate market differentiation, with smaller projects or “gray” businesses facing greater pressure.
2. Market Dynamics and Performance
1. USELESS market capitalization once surpassed 200 million USD, now has fallen back to 188 million USD
2. The crypto market is generally rising, with the L2 sector leading with over 5%
3. Bitcoin rose 31.41% in the second quarter of 2025
Opinion:
The market is entering a new round of “emotional recovery,” with mainstream coins and the L2 ecosystem showing stronger momentum. However, caution should be taken against short-term overheating and the bubble risk of low-value tokens.
3. Institutional and ETF Trends
1. Ethereum spot ETF saw a net inflow of 283 million USD last week, continuing seven weeks of net inflows
2. President of The ETF Store: The US SEC may approve the Grayscale Digital Large Cap ETF this week, with XRP and other spot ETFs likely to be approved subsequently
Opinion:
The continuous inflow of institutional investors is an important signal of the “de-retailization” of the crypto market. The inflow of funds into the Ethereum ETF and the potential approval of the XRP ETF indicate that the US market is gradually opening up to crypto assets.
4. Project Dynamics and Token Events
1. Side Protocol will undergo a testnet upgrade, aiming to support more Bitcoin wallets
2. Tokens such as SUI, ENA, and DYDX will see large unlocks this week
Opinion:
It is important to distinguish between the market impacts of “construction-type” news and “supply release” events. For medium to long-term investors, technological progress is worth attention; however, short-term investors need to avoid the selling pressure risks brought by unlocking.
