Bitget Daily Digest(June 11)｜US May CPI Data to Be Released Today, Ethereum Plans to Enhance Ecosystem Security

Today's Preview

1. The US May YoY unadjusted CPI will be released today. Previous value: 2.30%.
2. The US May MoM adjusted CPI will be released today. Previous value: 0.20%.
3. Delysium (AGI) will unlock approximately 69.03 million tokens today, accounting for 4.00% of current circulation, valued at about $3.8 million.
4. io.net (IO) will unlock approximately 3.22 million tokens today, accounting for 1.98% of current circulation, valued at about $2.5 million.
5. DeFi protocol ALEX, which was attacked due to a self-listing logic vulnerability, has promised to fully compensate all affected users. The deadline for claims is today.
6. Celo’s Isthmus upgrade is scheduled to go live on the Baklava testnet today. Isthmus, as Celo’s next major Ethereum L2 upgrade, will implement the “Prague” feature from Ethereum's recent Pectra hard fork into the OP Stack.

Macroeconomics & Hot Topics

1. China-US Economic and Trade Dialogue: On June 11, China's chief trade negotiator Li Chenggang stated that the first meeting of the China-US economic and trade consultation mechanism was "professional, rational, and in-depth." US Commerce Secretary Gina Raimondo said the resulting trade framework and implementation plan should address issues around rare earth and magnet material restrictions. After two days of talks, both sides reached a consensus on a trade framework to be reported to their leaders.
2. Connecticut bans state crypto holdings/investment: According to Bitcoin Laws, Connecticut has passed HB7082, which prohibits the state from accepting, holding, or investing in any virtual currency. The bill also introduces new requirements for remittance agencies and passed both the House and Senate without opposition.
3. CFTC chair nominee calls for additional funding for crypto supervision: The Block reports that Brian Quintenz, Trump’s nominee for US CFTC chair, stated in a Senate hearing that the agency would need extra funding if granted greater crypto regulatory authority. Quintenz, former a16z global policy chief and CFTC commissioner (2017-2021), would be the sole current commissioner if confirmed. Congress is reviewing a bill that could expand CFTC’s digital asset oversight. The agency employs fewer than 1,000 people, compared to the SEC’s 4,000.
4. SEC asks Solana spot ETF filers to update S-1 form, approval may take 2-4 months: Blockworks cites insiders saying the SEC has requested updated S-1 prospectus filings from spot Solana ETF applicants, signaling possible approval soon. While timing is uncertain, Bloomberg ETF analyst Eric Balchunas expects approval in 2-4 months. He stated that spot Solana and XRP ETFs could be approved in coming months, with a possible October deadline and July seeing a basket of ETFs including Solana, XRP, Ethereum, and Bitcoin. Issuers are racing for first-mover advantage. However, he noted most new spot ETFs will have small scale, with $1B being strong for Solana or XRP.
5. Ethereum Foundation releases first “1 Trillion-Scale Security” (1TS) report: Following the launch of its 1TS initiative last month, the Ethereum Foundation released its first report today, outlining existing security challenges across six key areas: user experience, smart contracts, infrastructure and cloud security, consensus protocols, monitoring/incident response/mitigation, social/gov layers. The 1TS project will use this to identify top priorities and work with the ecosystem to address them.

Market Updates

5. Contract trading net outflows: $XRP, $DOGE, $BTC, $MASK, and $ENA led; may indicate trading opportunities.

Institutional Views

News Updates

1. US SEC starts program to review Bitwise BTC and ETH ETF listing applications.
2. Clarity Act revisions stir controversy, with critics saying new provisions revive “Gensler-era” regulatory uncertainty.
3. South Korea’s ruling party proposes a Digital Asset Basic Act, allowing companies with over 500 million KRW to issue stablecoins.
4. BOJ governor says more rate hikes if potential inflation accelerates.

Project Developments

1. Pyth announces support for real-time ETF price data, enabling new DeFi and RWA use cases.
2. Community reports inactive funds in Bitcoin Lightning wallet Alby were moved without reason.
3. Tsinghua University and Aptos Labs partner to innovate consensus algorithm testing tools.
4. Data: ETH staking at all-time high, nearly 30% of supply staked.
5. Cardano founder launches “Cardinal Protocol,” a Bitcoin DeFi project on Cardano.
6. ZK Nation to unlock 760 million ZK in June; from July, 167 million ZK to be unlocked monthly through June 2028.
7. Bitcoin Core developers plan OP_RETURN change for October.
8. Farcaster Pro NFT airdropped to Farcaster wallets of top 10,000 subscribers.
9. 1inch launches new “Pathfinder” algorithm to improve swap rates.
10. Linea achieves historic zkEVM breakthrough with 100% EVM execution ZK proof.

X Highlights

1. Phyrex: BTC breaks to new highs near $110,000, capital activity concentrated in $100k–$105k range BTC broke above $110,000 today, setting another milestone, driven chiefly by optimism from China–US trade talks. While details remain confidential, the early US return of UK Trade Secretary Badenoch hints at better-than-expected results, and markets reacted positively. Rumors of potential SEC approval of a Solana spot ETF within a month also boosted the narrative of crypto mainstreaming. Bloomberg analysts now estimate approval odds for most spot ETFs (except $TRX) above 50%. On-chain data shows heavy turnover above $100k, with short-term speculators reducing exposure, while early long-term holders remain steady. Technically, $93k–$98k is a strong support area; current turnover concentrates in $100k–$105k. Near-term correction pressure and bullish momentum coexist. Original
2. Yuyue: From TGE to Coinbase listing: a complete $HOME trading recap $HOME’s trajectory from TGE to Coinbase listing reflects strong expectation-driven trading. Lack of Upbit spot support and weak airdrop sentiment suppressed opening valuation, sparking an initial short position. However, without timely profit-taking at the bottom, some gains were missed. Once listed on Coinbase, drawing from $LA and $FARTCOIN’s post-listing surges, a switch to short-term longs proved effective. Clear on-chain/exchange price differences and revised private sale unlocking rules suggested further upside expectations on Korean exchanges. The airdrop experience further confirmed the effectiveness of active/low-value accounts in real projects versus pure grind strategies. Overall, the trading process provided valuable lessons for managing stop-losses and airdrop timing in similar projects. Original
3. UNICORN: Trump’s "Born to Invest" plan – $1,000 investment accounts for every newborn The Trump administration proposes a “Trump Account” program, granting a $1,000 investment account for every US baby born from 2025 to 2029. The funds would go into index funds with parents or guardians as managers; up to $5,000 may be added annually. Partial withdrawals are allowed at 18; full access at 30. The plan aims to support middle-class families and the next generation, attracting support from Dell, Uber, Goldman Sachs, and others. Some financial experts question its tax benefits and whether it will become a family investment choice. The proposal awaits Senate review, with a key decision expected before July 4. Original
4. Data Alchemist Chloe Zheng: Deep dive on Spark’s TGE strategy and credit expansion As MakerDAO moves towards an "on-chain USD OS," sparkdotfi is not only DAI’s mint engine but is becoming foundational to on-chain USD liquidity. From combatting liquidity fragmentation via SLL, supporting BTC-collateral lending on Base, to introducing on-chain private credit, Spark is reshaping connections between DeFi and TradFi. Notably, the SEC officially recognized DeFi as part of "the American ethos" on June 9, legitimizing on-chain credit markets like Spark’s. For users, TGE is a key period for earning SPK scores: content creation (blogging, education) and lending+Yield Token (YT) strategies can maximize rewards, with over 80% of incentives going to borrowers. In an increasingly structured cross-chain landscape, Spark is helping build the critical bridges. Original