24H Hot Coins & Headlines｜U.S. House of Representatives to Advance Crypto Tax Legislation, Seven Draft Bills Circulated; Strait Passage Fees Collected by Iran Drop Significantly (June 8)
- Core View: The crypto market shows localized strength, with privacy coin ZEC and several tokens seeing notable gains; the U.S. is pushing forward crypto tax legislation, clarifying tax exemption rules for stablecoins, staking, and small transactions; industry analysis suggests Bitcoin may have entered a bottoming range, with a high probability floor at $46,000-$54,000.
- Key Elements:
- Among top CEX hot coins, ZEC, JTO, and WLD lead the gains, rising over 17% to 25%, while mainstream coins like BNB and BTC saw gains of approximately 3% to 7%.
- The U.S. House of Representatives plans to advance crypto tax legislation, with draft bills including exemption of capital gains tax on stablecoin transactions under $200 and crypto gains under $300.
- Glassnode co-founder Rafael pointed out that Bitcoin at around $62,000 has already fallen nearly 50% from its all-time high, with a high probability bottom range of $46,000-$54,000.
- ZEC broke through 430 USDT, with a 24-hour gain of 22.31%. Market concerns over a vulnerability incident in the coin were interpreted by analysts as overreaction.
- Prominent trader Eugene stated he is temporarily exiting the crypto market, citing no short-term opportunities, and shifting focus to the stock market.
1. Hot Coins on CEX
Top 10 CEX Trading Volume and 24-Hour Change:
- BNB: +4.88%
- BTC: +3.16%
- ETH: +6.82%
- SOL: +6.93%
- XRP: +5.62%
- ATM: +23.26%
- ZEC: +24.71%
- DOGE: +4.69%
- WLD: +17.19%
- SUI: +6.57%
24-Hour Gainers List (Data Source: OKX):
- JTO: +24.75%
- ZEC: +22.22%
- OFC: +20.13%
- OMI: +18.91%
- DASH: +17.49%
- WLD: +17.97%
- SAHARA: +14.79%
- EIGEN: +15.73%
- HMSTR: +8.65%
- ZKJ: +7.31%
24-Hour Crypto Equities Gainers List (Data Source: msx.com):
- SUIG.M: +5.98%
- VIVO.M: +4.13%
- MRVL.M: +3.61%
- CDE.M: +3.54%
- GAME.M: +2.51%
- AMC.M: +2.23%
- SQQQ.M: +2.08%
- SGML.M: +1.96%
- BTGO.M: +1.91%
- AMRK.M: +1.88%
2. Top 5 On-Chain Memes (Data Source: GMGN):
- MIM
- BOUNTREE
- Gustavo
- NERVE
- GMR
Headlines
US House Aims to Advance Crypto Tax Legislation, Covering Stablecoins, Staking, and Mining
The US House Ways and Means Committee will hold a hearing on crypto taxation. Seven draft bills have emerged, proposing clearer rules for stablecoins, staking, mining, and tax relief for small transactions. Draft directions include exempting capital gains tax on stablecoin transactions under $200 and crypto gains under $300, and clarifying that digital asset loans do not constitute a taxable event. (The Block)
Iranian Strait Passage Fees Drop Significantly
According to Lloyd's List, some ships transiting the Strait of Hormuz must pay over $100,000 for an Iranian transit permit. This fee has dropped significantly from the initial $1-2 million per vessel at the start of the conflict. Current maximum fees stand at $120,000 for bulk carriers and $160,000 for oil tankers, varying by vessel type, cargo, and owner nationality. (Xinhua News Agency)
Glassnode Co-founder: Bitcoin Bottom Zone Apparent, High-Probability Bottom Between $46K-$54K
Rafael, co-founder of Glassnode, notes that Bitcoin, currently around $62,000, has dropped nearly 50% from its all-time high, entering a valuation cluster zone that historically marked bottoms. He assesses the high-probability bottom range to be $46,000-$54,000, with the $35,000-$40,000 zone below representing a rare 'selling tail event.' Notably, this correction of ~50% is significantly shallower than the 77-85% declines in previous cycles, making the higher bottom range more likely.
Industry News
The US Central Command stated there are no reports of US casualties and refuted Iran's claim of damaging the Fifth Fleet headquarters in Bahrain. The Command also announced it successfully intercepted missiles and drones launched by Iran. (Jin Shi)
South Korean Finance Minister Chairs Emergency Meeting, Warns of Strict Crackdown on FX Speculation
South Korea's Finance Minister chaired an emergency market assessment meeting, stating the government will not tolerate herding behavior in the foreign exchange market. Regulators will conduct a special review, impose severe penalties on speculative activities targeting the Korean won, and investigate any illegal foreign exchange transactions by importers and exporters. (Jin Shi)
Sources: US Government Considers Taking Equity Stake in AI Companies
According to three sources, senior US government officials have held preliminary discussions with major AI companies about the possibility of the government taking an equity stake. OpenAI CEO Sam Altman has regularly discussed this concept with the administration since the start of Trump's second term, positioning it as a way to distribute the economic benefits of AI to the public. Discussions focus on companies 'voluntarily transferring shares to the government'; specific details remain undetermined. (CCTV News)
The State Council General Office issued guidance addressing insufficient supervision and incomplete systems in the private equity fund industry. It explicitly prohibits private equity funds from engaging in illegal lending or 'disguised equity' practices. It promotes amending the Securities Investment Fund Law to build a comprehensive regulatory system for private equity funds primarily based on administrative supervision, supplemented by self-regulation.
Project News
ZEC Breaks Above 430 USDT, Up 22.31% in 24H
According to OKX market data, ZEC broke above 430 USDT, currently trading at 431.7 USDT, a 24-hour increase of 22.31%.
Dragonfly Partner: Zcash Vulnerability Overinterpreted by Market; Most Holders Unaffected
Haseeb, Managing Partner at Dragonfly, stated there is widespread misunderstanding regarding the Zcash vulnerability. He pointed out that even exploiting the flaw would only allow an attacker to forge ZEC within the privacy pool. To move these tokens to mainstream trading platforms, they must first be transferred to transparent addresses, where any abnormal transfer exceeding the maximum supply would be identified and blocked. Most investors holding transparent ZEC would not be affected. He revealed Dragonfly still holds ZEC.
Voices
Trump: No Immediate Plans to Withdraw US Troops from the Middle East
Trump stated that while Iran's defensive and offensive capabilities have been severely weakened and the ceasefire agreement is fragile and often violated, there are currently no plans to withdraw US troops from the Middle East. He claimed Iran retains only about 21% to 22% of its pre-war missile inventory and added that keeping troops in the region 'costs very little' and can be used to pressure Iran into concessions at the negotiating table. (Jin Shi)
Trump: No Reason for Federal Reserve to Raise Interest Rates
Trump stated that there is no reason for the Federal Reserve to raise interest rates. (Jin Shi)
Trader Eugene: Temporarily Exiting Crypto Market; No Worthwhile Opportunities Currently
Renowned trader Eugene announced he has exited cryptocurrency trading, shifting his focus to the stock market, which he sees as having more potential. He is cautious about Strategy (MSTR), believing the recent Bitcoin sale might be just the beginning of the issue. He finds it difficult to engage until Bitcoin decouples from MSTR, and currently has no plans to buy the dip, maintaining a wait-and-see attitude towards the short-term market bottom.
