Home/Guide/Market Insights/Others/MEXC Daily News (June 30) | USD1 Trading Volume Hits Record High as Hot Money Flows into Crypto Reserves and Related Stocks

MEXC Daily News (June 30) | USD1 Trading Volume Hits Record High as Hot Money Flows into Crypto Reserves and Related Stocks

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Jun 30, 2025MEXC

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1. Market Overview

According to MEXC data, ETH is currently trading at 2,509.99 USDT, up 3% in the past 24 hours.

Heatmap of the top 10 USDT-margined perpetual contract trading pairs on the MEXC platform.

For more updates on cryptocurrency prices and macroeconomic trends, visit MEXC Markets.

According to DefiLlama, the USD-pegged stablecoin USD1, issued by the Trump-affiliated crypto project World Liberty Financial, recorded a 24-hour trading volume of $1.25 billion — marking a historic peak.

2.2 Data: Crypto Derivatives Risk Index at 62 Today, Still in “High-Risk” Zone

According to CoinGlass, today’s Crypto Derivatives Risk Index (CDRI) stands at 62 (compared to 61 yesterday), remaining within the “high-risk” category.

The CDRI, developed by the CoinGlass research team, is a standardized 0–100 scale that measures the risk intensity in the crypto derivatives market. It quantifies factors such as leverage usage, trading sentiment, and systemic liquidation risk. A higher score indicates a market leaning toward overheating or increased fragility.

3. Analyst Insights

Crypto analyst Scott Melker tweeted:"Capital from altcoins and institutional Bitcoin positions is currently flowing into companies with Bitcoin treasury strategies and crypto-related stocks. In the future, this capital may eventually find its way into Wall Street’s tokenization initiatives."

4. Industry News

4.1 Hong Kong Financial Secretary: Stablecoins Have the Potential to Transform Capital Markets

According to Jintou News, Hong Kong Financial Secretary Paul Chan stated in a blog post on June 29 that fintech holds tremendous potential in cross-border trade, aiming to resolve long-standing pain points such as slow settlement speed and high transaction costs. He emphasized that the recently released Policy Statement on the Development of Virtual Assets in Hong Kong 2.0 includes “promoting application scenarios and cross-sector collaboration” as one of its four pillars.

The statement highlights that stablecoins offer a cost-effective alternative to traditional financial systems and have the potential to reshape payments and capital market activities, particularly in cross-border transactions. Relevant legislation for stablecoins will take effect on August 1, and the Hong Kong government, alongside financial regulators, will work to create a favorable market environment supported by appropriate regulatory measures. These efforts aim to encourage stablecoin issuers to broaden adoption across various use cases, helping address real-world pain points for businesses and citizens alike.

4.2 South Korea Pauses Central Bank-Led CBDC Pilot, Shifts Focus to KRW-Pegged Stablecoins

According to Maeil Business Newpaper, South Korea’s central bank has suspended its central bank digital currency (CBDC) pilot project ahead of its second phase of testing. The pause comes amid growing complaints from participating banks and increasing interest in KRW-pegged stablecoins.

Currently, major banks including KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, IBK, iM Bank, Suhyup, and K-Bank are actively involved in the open blockchain and DIDIA project aimed at exploring stablecoin issuance in the banking sector. Additionally, Busan Bank, Gyeongnam Bank, and Toss Bank are considering joining the initiative.

5. Market Highlights

5.1 The ETF Store President: SEC Likely to Approve Grayscale Digital Large Cap ETF This Week, Paving the Way for Spot ETFs for XRP and Others

According to Nate Geraci, President of The ETF Store, the U.S. Securities and Exchange Commission (SEC) is expected to reach a final decision this week on the approval of Grayscale’s Digital Large Cap Fund (GDLC), which holds BTC, ETH, XRP, SOL, and ADA. Geraci stated that the chances of approval are high.

If approved, the SEC may subsequently greenlight spot ETFs for individual assets like XRP, SOL, and ADA. Geraci noted that approval of GDLC could serve as a soft launch for integrating a broader range of crypto assets into the ETF framework. Currently, XRP, SOL, and ADA collectively make up less than 10% of GDLC’s holdings — offering regulators a gradual, low-exposure entry point to expand beyond BTC and ETH.

5.2 Yusys Technologies Engaging with Stablecoin Issuers, Signs NDA to Explore Full-Stack Collaboration

According to Sina Finance, Yusys Technologies disclosed in an investor relations activity report that the company sees strong alignment between regulatory breakthroughs in the stablecoin sector and its global expansion strategy. The company is systematically advancing its presence in the stablecoin ecosystem, leveraging its existing overseas business foundation.

Yusys has recently initiated direct discussions with key participants in the stablecoin space, including issuers, and has signed non-disclosure agreements (NDAs). These talks focus on addressing the full lifecycle of stablecoin issuance — defining roles, identifying feasible technical solutions, and integrating resources and strengths across stakeholders.

Additionally, Yusys is actively engaging with institutions in Singapore’s emerging tech hubs to explore the tokenization of real-world assets (RWA), including asset selection, regulatory-compliant tokenization frameworks, and issuance strategies. The company is also in discussions with specific closed-loop industrial chain firms in the Middle East, where stablecoins may provide real-world applications by enhancing transactional transparency and establishing end-to-end payment systems through blockchain technology.

6. Project Updates

1）CICADA Finance and Metalpha have partnered to launch a non-collateralized leveraged launch tool based on USD1.

2）Tether CEO: The open-source password manager PearPass is currently being tested and will soon be released as open source.

3）Nobitex will begin gradually restoring the display of user wallet balances.

4）Sources: OpenAI has recently started renting Google TPU chips to support computing power for products like ChatGPT.

5）YAPYO will launch its token presale on June 30 at 21:00, with Top Yappers gaining early access 30 minutes in advance.

6）UK-listed company Vinanz plans to change its name to London BTC Company.

7）ZachXBT: A user was reportedly attacked by the Lazarus Group, resulting in a loss of approximately $3.2 million in assets.

8）Southeast Asian stablecoin operator APACX has joined the Circle Alliance Program.

9）CICADA Finance and Metalpha have partnered to launch a non-collateralized leveraged launch tool based on USD1.