Bitget Daily Digest (6.16)｜Israeli Airstrikes on Iranian Missile Bases and Nuclear Facilities; $ARB Sees Major Unlock, $ZKJ and $KOGE Plummet

Today’s Preview

1. The June NY Fed Manufacturing Index (previous: -9.2) will be released today.
2. Lido is gradually shutting down its staking services on Polygon. The transition period runs from Dec 16, 2024–Jun 16, 2025; after Jun 16, 2025, the frontend support ends and withdrawals will only be possible via browser tools.
3. Brazil’s B3 Stock Exchange is set to launch Ethereum and Solana futures today.
4. Arbitrum (ARB) will unlock 92.65 million tokens today, worth about $31.86 million—1.91% of circulating supply.

Macroeconomics Hot Topics

1. Israeli Airstrikes on Iranian Missile Bases and Nuclear Facilities The Israeli Defense Forces announced they had carried out strikes against ground-to-ground missile bases in central Iran from Sunday night to early Monday. Saudi state media Al-Arabiya reported that Israel also struck targets near Natanz in central Iran. Initial reports indicate that large-scale attacks were also launched on other Iranian nuclear facilities. The strikes reportedly followed Israeli detection of Iranian attempts to launch missiles at Israeli territory, prompting pre-emptive action to stop those launches. Separately, Iran’s earthquake center recorded a 2.5-magnitude quake in Qom Province, near the Fordow nuclear site, just hours before the Israeli airstrikes. Around the same time, Iranian media reported the Fordow facility was also targeted by Israeli airstrikes.
2. Vietnam Passes Digital Technology Act, Paving Way for Crypto Legalization On June 14, Vietnam’s National Assembly passed the Digital Technology Industry Act, bringing digital assets under the regulatory scope. The law, set to take effect on January 1, 2026, formally recognizes crypto assets and underpins further digital innovation across Vietnam. It divides digital assets into two categories: virtual assets and crypto assets—both relying on cryptography or digital technology for authentication and transfer but excluding securities, digital fiat, or other financial instruments. Regulators are tasked with specifying business conditions, classifications, and oversight mechanisms.
3. ZKJ and KOGE Both Crash—Analyst: Sell-off Driven by ZKJ's Contract and Liquidity According to @ai_9684xtpa, ZKJ was sold off after KOGE, mainly because ZKJ has an associated contract, allowing simultaneous shorting on exchanges and on-chain selling, plus its higher liquidity requires more capital to move the price. Both ZKJ and KOGE had extremely narrow LP ranges, and once heavy selling pushed past these zones without enough buying support, flash crashes became inevitable. Falling prices also triggered panic among LPs, leading to a vicious cycle of further sell-offs. The analyst adds that several days of declining Alpha trading volume likely primed the crash, compounded by massive LP outflows—essentially a race to exit.
4. Hong Kong Treasury: Licensed Stablecoin Issuers Can Choose Any Fiat Peg Hong Kong's Financial Secretary Paul Chan announced that the Stablecoin Bill has passed the Legislative Council and will take effect August 1. Hong Kong is taking a prudent yet innovative approach to stablecoin development, emphasizing its role as both a "firewall" and testing ground under the “one country, two systems” model. The regime allows licensed issuers to select any fiat currency as a peg, which should attract a diverse array of global institutions to issue stablecoins in Hong Kong and boost the city’s overall liquidity and competitiveness in digital finance.

Market Updates

Institutional Views

News Updates

1. Israeli PM: Israel willing to halt actions if Iran abandons its nuclear program.
2. Pakistan’s Finance Minister and Michael Saylor discuss incorporating BTC into the country's “monetary resilience” strategy.
3. Vietnam passes Digital Technology Act, officially recognizing crypto assets as legal.
4. Brazil plans unified 17.5% tax on crypto profits.

Project Developments

1. Buidlpad: Contribution period extended by 12 hours; SAHARA community donations exceed $46 million.
2. Balance Foundation: Third batch of EPT tokens available for all node holders.
3. NFT trading volume up 37.1% week-on-week; Immutable network volume surges over 150%.
4. Proposal to dissolve ApeCoin DAO (AIP-596) now open for voting, closing June 26.
5. Binance Alpha changes airdrop rules; airdrop will roll out in two stages starting June 19.
6. Kaito AI founder: Over $90 million in tokens distributed to holders and users to date.
7. Addresses with 1,000 to 100,000 ETH increased their net holdings by 1.49 million ETH over the past month.
8. Grayscale, VanEck, and other SOL ETF issuers have submitted updated S-1 filings.
9. Base lead: Fastest way to get listed on Coinbase is to launch on Base or bridge liquidity over.
10. Bitget Onchain now lists FartCat and drip tokens.

X Highlights

1. Crypto Veda: The Real Mission of Binance Alpha—Seizing Primary Pricing Power and Reshaping the Industry If the mechanism stays the same, Binance Alpha is likely headed for an endless cycle of score farming, LPs making losses, and exit farms. Ultimately, airdrops and score rewards will balance out, but overall profits will erode. The reality is that Alpha isn’t about easy retail profits—it’s Binance’s power move to reclaim primary pricing, target TradFi VCs, suppress rivals, and absorb on-chain liquidity. It disrupts VC-led pricing (like A16Z, Paradigm), hinders competing exchanges’ listings pace, and draws cross-chain assets back to BSC. Even if later it evolves into “pre-Alpha” tracks like Kaito, as long as VC tokens exist, this layered system will continue to generate “early bird leverage” and dominate the game. In some ways, Alpha’s significance far exceeds just airdrops—it’s a milestone innovation for Binance on par with the IEO. Original
2. AB Kuai.Dong: Recap—KOGE/ZKJ Dual Liquidity Pool Collapse KOGE and ZKJ jointly created a dual pool (KOGE/ZKJ pair) and opened it to market makers for wash trading. Since KOGE had very thin BNB and USDT liquidity, big holders looking to cash out found they couldn’t swap directly into major assets. So, they swapped KOGE for ZKJ, then dumped ZKJ for BNB or USDT, causing both coins to crash together. The initial drop wasn’t steep, but as more people rushed out, it triggered a stampede and full-scale collapse. Original
3. Phyrex: BTC Flatlines as a Week of Macro Data Approaches Markets were even calmer this weekend than I expected; BTC stayed in a tight $104,800–$105,500 range, just as previously predicted. In an environment full of geopolitical and headline risk, I’d rather stay on the sidelines than gamble short-term. Yesterday was Trump’s birthday, but the market barely moved—aside from his call to end the war, there wasn’t even any real news. Next week is key: US-China trade updates, more geopolitical headlines, China’s rare earth stance (so far just a statement), and whether more actions follow. Three things to watch next week: 1) Japan’s interest rate decision (expected no change); 2) US May retail sales data (likely negative, reflecting cooling consumption and economic pressure); 3) the Fed FOMC decision—unchanged rates are certain, but the dot plot and Powell’s speech will set interest rate cut expectations. Overall, stay nimble, don’t rush in. Original
4. CryptoCharming: Latest Overview of WLFI Track Projects Most mainstream WLFI projects are live. Current trading is led by a tug-of-war between major players and market makers. Among emerging stars, $EGL1, $Janitor, and $Liberty are worth watching; established names like $BULLAMASCOT, $TaggerAI, and $Caila_AI remain strong. I’m most bullish on $Janitor and $Liberty right now. $EGL1 continues to dominate daily volumes with highly active liquidity moves, but its patterns are too obvious and carry risks—I've reduced my position. $Janitor had a healthy pullback; the main account sold at the top and bought back on dips—confidence remains high, with “insider addresses” still accumulating. As long as it maintains volume and momentum, there’s room to run. $Liberty is a fast-rising newcomer with likely overlap among big holders with $Janitor; deep pockets, strong buy pressure, team background still under research. I’ve taken a small long position—will watch for new updates. For data and updates, follow @four_meme_, @BUILDonBsc_AI, @wellowealth—these accounts post timely info to help adjust strategy. Original