UBU token market cap surpasses $55 million, with a 24-hour increase of over 54%. Vietnam passes the "Digital Technology Industry Law," recognizing the legal status of crypto assets starting in 2026. BTC stabilizes and rebounds to 105,800 USDT, while ETH spot ETFs see a net inflow of $528 million for five consecutive weeks. JTO, LM, and HOUSE tokens rise by 17.17%, 24.56%, and 27.68% respectively, driven by community enthusiasm. Geopolitical risks trigger market fluctuations, with crude oil and gold experiencing highs and subsequent declines. Gate Launchpool launches the CRT project, allowing staking to receive 1.5 million CRT airdrop, with the project focused on AI-driven Web3 content creation.
Crypto Market Overview
Mining popular tokens JTO Jito Token (+17.17%, circulating market cap $2.343 billion) According to Gate's market data, the current price of JTO token is $2.342, with a 24-hour increase of 17.17%, and a current circulating market cap of $2.343 billion. JTO is the governance token of the Jito network, marking an important milestone in the development of the Jito ecosystem. As a governance token, JTO grants holders the right to participate in key decisions, allowing them to directly influence the future direction of the Jito network. By holding and using JTO, community members can propose suggestions, participate in voting, and drive protocol improvements, ensuring that the Jito network can continue to innovate and keep pace with the times. The design of JTO aims to enhance community engagement and decentralized governance capabilities, promoting a transparent and democratic decision-making process to adapt to changing market demands and the broader goals and vision of the Solana ecosystem. Since reaching a temporary low in April, the JTO token has experienced multiple dips but has consistently held above key support levels, indicating strong buying support below. With the highs gradually rising, the price trend shows clear signs of a reversal. Notably, JTO was previously included in Grayscale's potential investment product watchlist, which has raised market expectations for its institutional path, constituting a medium to long-term positive factor that is likely to provide ongoing support for its subsequent market performance.
LM LeisureMeta Token (+24.56%, circulating market cap $18.31 million) According to Gate's market data, the current price of LM token is $0.0036, with a 24-hour increase of 24.56%, and a current circulating market cap of $18.31 million. LeisureMeta is a pioneer in realizing the value of Web3.0, achieving the rights value of Web3.0 and introducing a new employment model and income source—Web3.0 creators. LeisureMeta operates its own blockchain, and the LM tokens on the LeisureMeta chain can be exchanged with ERC20 LM tokens on Ethereum through a gateway. The recent price increase of LeisureMeta (LM) tokens is primarily driven by its "I LIKE LM" community attracting K-POP fans and NFT enthusiasts, boosting trading activity and demand. LM supports low gas fees for NFT minting and trading, and its fan economy model attracts Web3 users. Recently, trading volume surged, with daily trading exceeding $10,000, and short-term incremental funds may continue to drive price increases.
HOUSE Housecoin Token (+27.12%, circulating market cap $41.26 million) According to Gate's market data, the current price of HOUSE token is $0.0414, with a 24-hour increase of 27.68%. HOUSE currently has a circulating market cap of $41.26 million. Housecoin ($HOUSE) is a meme token based on the Solana blockchain, themed around hedging the real estate market, aiming to express protest against high global housing prices through humor and satire. Its core idea claims "1 $HOUSE token will equal the value of 1 house," using exaggerated slogans to attract the attention of the younger generation and the crypto community, reflecting widespread anxiety about the real estate market bubble and home-buying difficulties. Housecoin combines economic pain points with meme culture through community-driven narratives, creating a digital asset that is both entertaining and speculative. The recent rapid price increase of HOUSE tokens is mainly due to its successful leverage of the community enthusiasm and sentiment within the Solana ecosystem, precisely capturing the resonance of the younger demographic regarding high housing prices through its ironic positioning of "1 $HOUSE = 1 house," thus attracting a large number of retail investors and igniting FOMO sentiment, with social media discussions surging by 210%, further propelling the price upward.
Alpha Interpretation: Ethereum Spot ETF Continues Five Weeks of Net Inflows The Ethereum spot ETF performed strongly last week (June 9-13), with a weekly net inflow of $528 million, marking five consecutive weeks of net inflows, and none of the nine ETFs experienced net outflows. Among them, BlackRock's ETHA led with a weekly net inflow of $381 million, bringing its cumulative net inflow to $5.24 billion, highlighting its dominant position among institutional investors. Fidelity's FETH followed closely with a weekly net inflow of $78.49 million, accumulating a net inflow of $1.59 billion, reflecting the proactive positioning of traditional financial giants in the crypto asset space. Currently, the total net asset value of Ethereum spot ETFs has reached $10.03 billion, accounting for 3.26% of Ethereum's total market cap, indicating that ETFs have become an important component of the Ethereum market. The Ethereum ecosystem continues to expand, with widespread DeFi and NFT applications driving network activity and ETH demand. If the regulatory environment remains friendly and institutional participation continues to rise, ETFs are expected to further drive ETH prices up while attracting more investors into the crypto ecosystem, strengthening Ethereum's network effects and value foundation.
Popular Meme Coin LABUBU Market Cap Surpasses $55 Million On June 16, according to GMGN market information, the meme coin LABUBU, based on the Pop Mart trendy toy IP, has a market cap that has surpassed $55 million, currently reported at $55.03 million, with a 24-hour increase of over 54%. According to related page information, LABUBU is based on the trendy toy IP Labubu under Pop Mart, which is popular worldwide, with Thailand even holding a grand welcome ceremony for it. The market cap of LABUBU token surged by 54% in a short period, reflecting the strong market appeal of the Pop Mart Labubu IP behind it. Labubu, as a representative of global trendy toy culture, combined with the viral spread on social media (such as TikTok, Instagram) and celebrity effects (such as Blackpink member Lisa, Thai princess, etc.), provides a natural traffic base for the meme coin. This combination of IP and cryptocurrency successfully transforms the fan economy of physical trendy toys into a speculative frenzy for digital assets. Although LABUBU has performed well in the short term, its nature as a meme coin leads to significant price volatility. The lack of official authorization, absence of a white paper, and unclear team characteristics further increase investment uncertainty. Investors should be cautious of the typical meme coin pattern of "hype - speculation - crash."
Vietnam National Assembly Passes "Digital Technology Industry Law," Recognizing Legal Status of Crypto Assets The Vietnam National Assembly approved the "Digital Technology Industry Law" on June 14, which brings digital assets under regulatory oversight and formally recognizes the legal status of crypto assets. The law will take effect on January 1, 2026, defining crypto assets as digital assets verified using cryptography or similar digital technologies during their creation, issuance, storage, or transfer, and categorizing digital assets into virtual assets and crypto assets. This law marks the first time that crypto assets have been incorporated into the national legal framework and granted legal status, reflecting Vietnam's proactive response to the rapidly growing crypto market. Reports indicate that Vietnam has approximately 17 million crypto users, with crypto remittances reaching $16 billion in 2024, showcasing its leading position in the global decentralized finance (DeFi) sector. With the legalization of crypto assets, Vietnam's large crypto user base injects vitality into the entire crypto market, further attracting user participation, enhancing market confidence, and promoting the localized application of blockchain technology in the Vietnamese market.
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Original: “LABUBU Token Market Cap Surpasses $55 Million | Vietnam Recognizes Legal Status of Crypto Assets”
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