Driven by the stablecoin narrative, market risk appetite is recovering, presenting short-term rebound opportunities for DAG. Investors should pay attention to the increased bullish momentum resulting from improved sentiment and use on-chain activity and trading volume indicators to identify price inflection points. Although short-term valuations benefit from heightened risk appetite, over the medium to long term, DAG’s value should return to fundamental considerations, especially focusing on its application expansion in data transmission and distributed ledger fields. It is recommended that investors evaluate DAG’s long-term allocation potential by considering ecosystem partnerships and developer participation.

In the A-share market, stablecoin-related stocks have become the focus of capital for two consecutive days, with several stocks hitting daily limits and trading volume expanding, indicating that investor risk appetite is currently undergoing a recovery phase. This warming sentiment often spills over into the crypto asset sector, and in the short term, is expected to drive increased volatility among mainstream public chain tokens, including DAG. Investors should focus on the bullish entry momentum driven by improving sentiment and monitor the synchronous changes in on-chain activity and in-platform trading volume to capture potential price turning points.

1. Overall trend: The A-share market opened lower and rebounded throughout the day, with the three major indices rising slightly. Most individual stocks gained, with over 3,400 stocks in Shanghai, Shenzhen, and Beijing turning red; today's trading volume reached 1.24 trillion. By the close, the Shanghai Composite rose 0.35%, the Shenzhen Component Index increased 0.41%, and the ChiNext Index gained 0.66%.  
2. Industry sectors: Stablecoins, oil and gas, IP economy, and 3D printing sectors led the gains, while precious metals, military industry, medical and healthcare, and civil aviation airports sectors saw declines.  
3. Popular concepts: Stablecoin concept stocks surged again, with more than ten stocks including Hang Seng Electronics, Sifang Jingchuang, Hengbao Shares, and Hailian Jinhui hitting the daily limit. Oil and gas stocks surged then pulled back; stocks like Shandong Molong, Zhunyou Shares, Beiken Energy, and Taishan Petroleum hit the limit-up. The IP economy concept continued its strong momentum, driving branches like 3D printing to perform well, with Yuanlong Yatu, Disu Fashion, Golden Orange, and Haizheng Shengcai hitting the daily limit.

The Shanghai Composite Index rebounded with a decrease in volume, rising by 0.35%, while stablecoin concept stocks surged again.

On June 23, data from Tonghuashun revealed that stablecoin-related stocks were active in the A-share market. The top six stocks on Tonghuashun's hot list in the past hour were all related to stablecoins, including Hengbao Co., Sifang Jingchuang, Annie Co., Chutianlong, Dongxin He Ping, and Lakala, with daily gains of 9.39%, 14.28%, 9.97%, 9.04%, 2.49%, and 11.59%, respectively.

Data: The top 6 stocks in the recent 1-hour hot list on Tonghuashun are all related to stablecoin concepts.

Although short-term valuations are being pushed up by the overall rise in risk appetite, the medium- to long-term performance of DAG must return to the project's fundamental factors. As the industry continues to expand stablecoin application scenarios, the demand for on-chain transactions and settlement is expected to gradually increase, providing a fundamental support for DAG’s core value in the fields of data transmission and distributed ledger technology. Investors should pay attention to subsequent ecosystem cooperation progress and on-chain application rollouts. By combining metrics such as network activity and developer engagement, tokens’ long-term allocation value should be evaluated prudently.

Constellation

It’s not a given that the European Central Bank’s next move on interest rates will be a hike, according to Governing Council member Martins Kazaks.

Kazaks: Will not oppose bets on two interest rate hikes this year

Waller: Rapid resolution of the Middle East situation may allow for interest rate cuts later this year.

Waller: Overall PCE inflation year-over-year in March may reach 3.5%

The Federal Reserve's Waller expressed caution regarding interest rates, warning of the risks of prolonged warfare.

Fed's Daly: Rates May Remain Unchanged

Daly: The federal funds rate is slightly above the neutral level of 3%.

UBS Expects 50 bps Fed Rate Cuts as Gov Miran Downplays Inflation Risks

Federal Reserve's Daly: On hold regarding interest rates.

Easing tensions in the Middle East combined with rising expectations of interest rate cuts have pushed gold close to $4,900.

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