MEXC On-chain Daily Report: Illinois Enacts 0.2% Crypto Transaction Tax

Updated: June 18, 2026, 09:30 (UTC+8) | Author: MEXC

1. Headlines

• Satori Finance announced the cessation of operations and has begun its user withdrawal process.
• Zama launched an on-chain private asset transfer service for retail users.
• SPCX trading volume surpassed $1.125 billion.
• Bahrain’s Kanoo family plans to bring $6 trillion worth of global trade onto blockchain rails.
• Illinois signed a 0.2% crypto transaction tax into law, which some industry participants describe as one of the most anti-crypto regulations in the United States.

2. Industry Updates

SpaceX Market Cap Approaches Twice Bitcoin’s Valuation

According to CoinDesk, SpaceX's market capitalization has climbed to approximately $2.5–2.6 trillion following its IPO, nearing twice Bitcoin’s total market value. Analysts believe the “AI + technology growth” narrative surrounding SpaceX is attracting substantial global risk capital, potentially diverting investment away from crypto markets. However, some observers warn that SpaceX is currently trading at over 130 times revenue, suggesting elevated valuation risks.

Canton Strategic Announces $50 Million Share Repurchase Program

Nasdaq-listed Canton Coin treasury company Canton Strategic has approved a $50 million stock buyback program. The repurchases will be executed through open-market transactions and other compliant methods, with timing and scale determined by market conditions, trading volume, share performance, and regulatory considerations. The company noted that no minimum repurchase amount is guaranteed.

Revolut Receives UAE Central Bank Approval

Digital banking platform Revolut has obtained regulatory approval from the UAE Central Bank, allowing it to enter the UAE market. The approval covers stored-value facilities and retail payment services. Revolut plans to use the UAE as a strategic hub for broader Middle East expansion while building local infrastructure, operations, and compliance capabilities.

RDC Raises $7 Million to Expand Digital Asset Depositary Services

Receipts Depositary Corporation (RDC), a provider of digital asset and alternative asset depositary receipts, completed a $7 million funding round led by LiveOak Ventures. The company plans to accelerate product development and provide U.S. investors with tokenized and securitized exposure to multiple asset classes.

Re Secures Strategic Investment from Coinbase Ventures

Decentralized reinsurance protocol Re announced a strategic investment from Coinbase Ventures. The project aims to bring reinsurance capital on-chain and expand decentralized insurance infrastructure. Industry participants view blockchain-based reinsurance as a promising convergence point between RWA and DeFi.

EarnOS Completes $6 Million Pre-Series A Financing

On-chain advertising platform EarnOS raised $6 million in a Pre-Series A round led by 1kx, with participation from Coinbase Ventures and Circle Ventures. The project also secured $12.5 million in non-dilutive strategic funding. The capital will be used to improve user verification, task incentives, and reward distribution systems.

Trace Finance Raises $32 Million Series A

Stablecoin payment infrastructure provider Trace Finance completed a $32 million Series A round led by CoinFund, with participation from Coinbase Ventures and others. The company has already processed more than $10 billion in institutional cross-border transactions and plans to expand across Latin America and the Asia-Pacific region.

Prediction Markets Expected to Remain Multi-Platform

Limitless Labs co-founder CJ Hetherington believes prediction markets are unlikely to be dominated by a single platform. Instead, the sector may evolve similarly to perpetual futures markets, where multiple platforms coexist due to arbitrage activity from market makers and high-frequency traders. Increasing participation from traditional brokers such as Robinhood and Interactive Brokers could further strengthen this trend.

Bittensor Community Discusses “Root Reborn” Proposal

The Bittensor community is reviewing a governance proposal called “Root Reborn,” which seeks to redesign TAO staking rewards. Under the proposal, validators would evolve from passive reward distributors into active capital allocators, potentially reducing sell pressure on subnet tokens and encouraging stronger ecosystem development.

Kalshi Introduces Employee Trade Monitoring

Prediction market platform Kalshi has partnered with StarCompliance to launch real-time employee trading surveillance tools. The system is designed to help financial institutions detect potential misuse of non-public information within prediction markets and may eventually be extended to other platforms.

3. MEXC Market Heatmap

Top 24H Gainers

• O/USDT: +738.13%
• SYN/USDT: +42.57%
• XT/USDT: +26.02%

Top 24H Trading Volume

• BTC/USDT: $732.089M
• ETH/USDT: $356.482M
• SOL/USDT: $71.791M

Trending Meme Tokens

• DOGEUS/USDT
• VIRL/USDT
• RICH/USDT

Upcoming Listing

• KAZAR/USDT — Listing Time: June 18, 2026, 17:00 (UTC+8)

4. On-Chain Calendar

High-Risk Token Unlocks

• Humanity/USDT — June 24: 92.8M tokens unlocked (10.92% of circulating supply)
• MemeCore/USDT — July 3: 167.21M tokens unlocked (4.28% of circulating supply)
• Pump/USDT — July 12: 140.11M tokens unlocked (25.6% of circulating supply)

Key Macro Events to Watch

• 02:00 UTC+8 — U.S. Federal Reserve Interest Rate Decision
• 02:00 UTC+8 — FOMC Economic Projections (Dot Plot)
• 02:30 UTC+8 — Fed Chair Press Conference
• 19:00 UTC+8 — Bank of England Interest Rate Decision
• 20:00 UTC+8 — ECB Executive Board Member Cipollone Speech
• 20:15 UTC+8 — ECB Chief Economist Lane Speech

5. Security Alert

Recent phishing campaigns have exploited fake token claim portals and airdrop eligibility checkers. Attackers create counterfeit websites that closely resemble official project pages and distribute them through social media, community groups, and sponsored search advertisements. After connecting a wallet, users are prompted to complete “eligibility verification” or “claim confirmation” steps, which are actually malicious authorization requests granting attackers access to wallet permissions. To stay safe, only claim airdrops or token rewards through official project announcements, avoid links shared in unofficial groups or promoted through search ads, carefully review all transaction details and approval permissions before signing, regularly revoke unnecessary wallet approvals, and stay vigilant against phishing attempts to protect your digital assets.

MEXC Chain Observation Daily, updated daily, strives to provide professional, timely, and in-depth market analysis for cryptocurrency practitioners. Welcome to share and subscribe.

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Risk Warning: The content of this article is for reference only and does not constitute any investment advice. The cryptocurrency market is volatile, please make a cautious decision based on your own situation.