June 18 Crypto Briefing

Market Sentiment:

Bullish: 81.82%

Bearish: 18.18%

The overall sentiment in the current crypto market is leaning towards 'greed', with the fear and greed index reaching 68, indicating that investors are generally optimistic.

Today's News:

1. The U.S. Senate passes the GENIUS Act, marking a milestone in stablecoin regulation

- Passed with a strong vote of 68-30, showing robust support.

- Requires stablecoins to have a 1:1 physical reserve to enhance stability.

- Clarifies bankruptcy protection and marketing standards, strengthening consumer rights.

- This is the first digital asset regulatory bill to pass the Senate, which is of monumental significance.

- It has now been sent to the House of Representatives, which could profoundly impact future regulatory frameworks.

Impact:

The bill is expected to boost institutional investor confidence and promote the compliant development of stablecoins, but it may also restrict decentralized innovation, benefiting traditional institutions like banks. On-chain stablecoin trading will face stricter regulation, potentially leading to further growth in a compliant environment.

2. Tron’s Justin Sun’s father controls a publicly listed company through a $100 million TRX transaction

- A significant transaction of $100 million in TRX tokens has notable on-chain effects.

- Justin Sun's father gains control of the SRM Entertainment board, and the company is set to be renamed Tron Inc., deepening the integration of crypto and traditional businesses.

- The community has doubts about the governance structure and transaction motives.

Impact:

This transaction helps integrate crypto assets with traditional markets, but ongoing community skepticism may affect TRX's reputation and on-chain activity. The $100 million TRX circulation also has a direct impact on market distribution and pricing.

3. Kraken Layer2 project Ink is about to launch its token and conduct an airdrop

- $INK is the first self-launched token from a mainstream U.S. exchange, which is significant.

- Early users will receive airdrops, potentially sparking a surge in participation.

- Integrated with Aave, enhancing the Layer2 DeFi ecosystem.

Impact:

This move is expected to promote the development of the Kraken Layer2 ecosystem and set a new benchmark for exchange token launches, significantly increasing on-chain trading, DeFi, and staking activities.

Regardless of market fluctuations, remember to stay rational, manage risks well, and don't let emotions dictate your investment decisions.

Wishing you successful trades, and always remember to DYOR!