Bitunix Token Pulse Weekly Report: Crypto, Stocks, and Commodities Decline Together as SNDK Surges 20% Against the Trend

Statistical Period: June 20, 2026 – June 26, 2026
Data Cutoff: June 26, 2026

1. Market Overview: Middle East Conflict Fuels Inflation Concerns, Fed Rate Hike Expectations Rise, Crypto Market Pulls Back

This week, the primary focus of global financial markets shifted back to the ongoing battle between inflation and monetary policy. Continued tensions in the Middle East pushed energy prices higher, driving U.S. inflation upward once again. The annual Personal Consumption Expenditures (PCE) inflation rate exceeded 4% for the first time in three years, intensifying concerns that inflation may remain elevated for longer than expected. Although crude oil and gasoline prices have retreated somewhat following a fragile ceasefire agreement, economists generally believe inflation will stay at elevated levels in the near term.

Last week, the Federal Reserve kept the federal funds rate unchanged at 3.50%–3.75%. However, updated quarterly projections revealed that policymakers have become increasingly concerned about inflation and are now more inclined toward additional rate hikes later this year. Markets are currently pricing in the possibility of the next rate hike as early as September, with another increase potentially following thereafter.

Rising expectations of tighter monetary policy weighed heavily on risk assets globally. Bitcoin (BTC) fell below the key $60,000 level, while Ethereum (ETH) declined to around $1,560. The Bitunix Token Pulse Weekly Report will continue tracking the top 300 cryptocurrencies by market capitalization listed on Bitunix, while also monitoring popular U.S. stock contracts to provide investors with strategic insights and short-term trading opportunities.

2. Crypto Asset Performance: DEXE Surges 40% Against the Trend While M Crashes 70% in a Single Week

Driven by growing expectations of future Federal Reserve rate hikes, major crypto assets broadly declined this week. BTC fell 5.35%, once again breaking below the psychological $60,000 level. ETH underperformed even further, posting a weekly loss of 8.57%. Other major assets, including BNB, SOL, and HYPE, also moved lower. The median return across the crypto market was -8.89%, with only 15% of tracked tokens posting gains.

Top Gainers - DEXE, BEAT, and JUP Shine as Market Lacks a Clear Narrative

Among the week's strongest performers, DEXE led the market with a 44% gain. BEAT staged a strong rebound following a previous sharp correction, rising 27% during the week. Other DeFi-related tokens such as JUP, STABLE, AAVE, and AERO also outperformed the broader market. AAVE's rally was largely driven by reports that Kraken plans to acquire approximately 15% of Aave at a valuation of around $385 million, boosting investor confidence and driving the token higher.

Data Source: Bitunix Note: Price and performance data were collected at 1:00 AM UK time (UTC+0).

Top Losers - M Plunges More Than 70%, Despite Previously Ranking Among the Top 100 Cryptocurrencies

The biggest loser this week was M, which experienced a classic waterfall-style collapse and lost more than 70% of its value. M is the governance token of the Memecore project. On June 25, the token's market capitalization erased nearly $3 billion in a single day, while the project team has yet to issue a public explanation for the crash. Well-known on-chain investigator ZachXBT had previously raised concerns regarding the project, suggesting that M's valuation may have been artificially supported by insider-controlled funds. Trading activity for M remains concentrated on a limited number of exchanges, with much of its popularity driven by token-launch platform volume and social media campaigns supported by incentive programs.

Data Source: Bitunix Note: Price and performance data were collected at 1:00 AM UK time (UTC+0).

3. Hot Token Deep Dive: DeXe (DEXE) — A Decentralized Social Asset Management Platform Entering a High-Volatility Phase

This week, DEXE rose 44% against the broader market trend, making it one of the few standout performers and highlighting the continued attention surrounding the decentralized social asset management sector. DEXE is a decentralized asset management and social trading platform that combines traditional portfolio management concepts with blockchain technology. It provides transparent and verifiable copy-trading services, allowing users to follow and replicate the strategies of successful traders through a one-click investment experience. All transactions and performance records are stored on-chain, enhancing transparency and trust across the platform.

At its core, DeXe aims to lower the barriers for retail investors seeking access to professional trading strategies. Through its decentralized copy-trading infrastructure, the protocol addresses information asymmetry in strategy discovery and execution, enabling users to participate more effectively in sophisticated investment opportunities.

3.1 DEXE Technical Analysis: After a Sharp Rally on June 23, the Token Has Entered a High-Level Consolidation Phase

Since completing its TGE in December 2020, DEXE has gone through at least three distinct boom-and-bust cycles, exhibiting a typical high-volatility growth pattern. During its first major rally in April 2021, the token surged from approximately $1.33 to a peak of $24.55 before retracing sharply to around $4, where it entered a prolonged period of sideways accumulation.

In February 2025, DEXE launched another upward cycle from its bottom range, reaching a high of $24.01 before reversing lower, completing its second major market cycle. The current rally can be viewed as the continuation of its third growth cycle. Since February 2026, DEXE has gained more than 500%, with its trading range shifting upward to around $13–15.

On June 23, the token experienced a sharp breakout, surging from approximately $14 to as high as $24, accompanied by a significant increase in trading volume, indicating rapidly improving market sentiment. However, the rally failed to sustain momentum above resistance levels, and DEXE has since entered a short-term consolidation phase near its recent highs.

Data Source：Bitunix

3.2 DEXE Trading Structure Analysis: Liquidity Highly Concentrated on Mid-Tier Centralized Exchanges

Based on the past 24 hours of trading activity, DEXE's liquidity is heavily concentrated on a handful of mid-sized centralized exchanges. P2B recorded approximately $4.23 million in trading volume, while Pionex generated around $6.72 million. In comparison, Binance, one of the world's largest exchanges, recorded only about $5.10 million in DEXE trading volume during the same period.

This unusual structure suggests that a significant portion of DEXE trading activity is taking place on smaller exchanges rather than top-tier venues. One of the primary reasons is that liquidity depth and order book thickness on major exchanges remain relatively limited for DEXE, making smaller platforms with tighter spreads and more efficient matching engines attractive for larger trades and high-frequency trading strategies.

Meanwhile, decentralized exchange (DEX) activity remains relatively weak, indicating that DEXE's price discovery and liquidity formation are still largely driven by centralized exchanges rather than on-chain market participation.

Data Source：Coinmarketcap

3.3 DEXE Token Distribution Analysis: Strong Centralized Control and Limited On-Chain Participation

Because on-chain trading activity represents only a small fraction of DEXE's overall volume, with more than 90% of transactions taking place on centralized exchanges, relatively few "smart money" wallets have accumulated positions on-chain. As a result, overall on-chain participation remains limited.

From a tokenomics perspective, although DEXE has been trading for nearly six years and is considered an early-generation crypto asset, more than 50% of its token supply remains locked. Furthermore, wallets associated with the project team reportedly control approximately 67% of the total circulating supply, reflecting a highly concentrated ownership structure.

On-chain data also shows little evidence of participation from major market-making firms. Consequently, market liquidity continues to rely heavily on a small number of exchanges and a concentrated token distribution. As a result, DEXE's price action remains heavily influenced by project-controlled wallets and major holders, leading to a relatively centralized pricing mechanism.

Data Source：Arkham

3.4 Is It Too Late to Buy DEXE Now?

Looking at DEXE's historical price performance, the $25 level has consistently served as the upper boundary of its long-term trading range. Across the previous three major market cycles, the token has repeatedly failed to break above this resistance level, highlighting the significant selling pressure that exists around this area.

From a technical analysis perspective, the sustainability of the current rally largely depends on whether DEXE can successfully break through and hold above the $25 resistance zone. A substantial amount of historical trapped liquidity remains concentrated around the $24 level, meaning that failure to achieve a decisive breakout could result in continued consolidation and selling pressure in the short term.

Only after DEXE successfully clears the $25 resistance level and absorbs existing overhead supply can it build sufficient momentum to challenge new all-time highs.

Data Source：Coinmarketcap

3.5 Summary of DEXE's Recent Trends

Driven by both narrative momentum and improving market sentiment, DEXE gained 44% this week despite broader market weakness, reinforcing its status as one of the most closely watched projects in the decentralized social asset management sector. However, following its recent surge, the token has entered a high-volatility consolidation phase.

From a market structure perspective, liquidity remains concentrated on mid-sized centralized exchanges such as P2B and Pionex, while decentralized exchange participation remains limited. In addition, a large portion of the token supply remains controlled by project-related wallets, meaning price discovery continues to be driven primarily by centralized trading venues.

Technically, the $25 level remains the most important resistance zone, having capped price action across multiple market cycles. The next major move will likely depend on whether DEXE can generate sufficient volume to break above this level and absorb the significant overhead supply concentrated around $24.

4. U.S. Stock Contracts Performance: Crypto-Related Stocks Continue to Decline as SK Hynix Files for a U.S. IPO

Following the Federal Reserve's increasingly hawkish stance, the U.S. technology sector broadly moved lower this week. Crypto-related stocks were among the weakest performers, with MSTR and CRCL plunging 24% and 15%, respectively, as the sector faced significant selling pressure.

Meanwhile, SPCX pulled back to $153 during its second week of trading, representing a decline of nearly 20% and reflecting a notable cooling of market sentiment. Against the backdrop of broader weakness in technology stocks, the storage sector emerged as one of the few areas of strength. SanDisk (SNDK) gained approximately 20% during the week, standing out as one of the best-performing names in the sector.

As one of the leading companies in the global memory industry, SK Hynix has also officially submitted its application for a U.S. IPO, attracting significant investor attention regarding its future listing plans. Bitunix offers stock contracts with leverage of up to 50x and supports both long and short trading strategies, helping traders improve capital efficiency, capture structural opportunities, and potentially amplify returns in low-volatility market environments.

Featured Stock Contract Analysis — SNDK

SNDK has once again been featured in the Bitunix Token Pulse report. When we first highlighted the company, its stock price was approximately $1,300. Since then, the stock has gained a cumulative 79%. SanDisk's business spans a wide range of products, from consumer storage devices to enterprise-grade SSD solutions. Benefiting from the AI-driven computing race, companies continue to expand spending on High-Performance Computing (HPC) infrastructure, significantly increasing demand for high-speed storage solutions.

The storage sector remains one of the strongest areas within the technology market. As AI adoption accelerates globally, leading storage providers continue to occupy critical positions within the AI supply chain, making their market leadership difficult to challenge. The primary catalyst behind SNDK's strong performance this week was a series of analyst upgrades from major investment banks. Citigroup raised its target price for SNDK to $2,500, citing continued strength in NAND flash memory pricing and maintaining a bullish outlook on the company's future performance.

Data Source: Bitunix

6. Commodities Contracts Analysis: Hawkish Fed Signals Trigger Broad Commodity Pullback

Bitunix currently offers commodity contracts covering gold, silver, crude oil, and natural gas, providing users with broader cross-market trading opportunities. This week, commodities came under pressure following the Federal Reserve's hawkish policy signals. Gold briefly fell below the key $4,000 support level, posting a weekly decline of 7.50%. Brent crude oil also temporarily dropped below the important $70 threshold before recovering to around $74. Despite the rebound, the overall trend remains relatively weak.

Overall, rising expectations of future interest rate hikes weighed simultaneously on U.S. equities, cryptocurrencies, and commodities, resulting in a broad correction across global risk assets.

Data Source: Bitunix

6. Macro Catalysts: Key Event to Watch Next Week — U.S. June ADP Employment Report

Looking ahead, one of the most important macroeconomic events next week will be the release of the U.S. June ADP Employment Change report on July 1. As a leading indicator for the official Nonfarm Payrolls (NFP) report, ADP employment data is widely viewed as an early gauge of labor market strength and often plays a significant role in shaping market expectations.

From a policy perspective, labor market conditions directly influence the Federal Reserve's assessment of economic resilience and inflationary pressures. If ADP employment growth remains strong, it could reinforce concerns that the economy is overheating and further increase expectations for additional rate hikes. Conversely, weaker-than-expected employment data may strengthen market expectations for earlier rate cuts, potentially improving the outlook for risk assets.

Conclusion

This week, rising inflation concerns and increasingly hawkish Federal Reserve expectations drove broad weakness across risk assets. Bitcoin once again fell below the $60,000 level, putting significant pressure on the cryptocurrency market as a whole. However, DEXE stood out with a 44% gain, making it one of the few assets to demonstrate notable relative strength.

In the stock market, crypto-related stocks such as CRCL experienced sharp declines as investor risk appetite weakened. Meanwhile, SNDK gained approximately 20%, emerging as one of the few bright spots within the technology sector and highlighting the continued strength of the storage industry.

Commodities were also negatively affected by rising rate hike expectations, with both gold and crude oil posting notable declines. Overall, global markets exhibited a pattern of broad-based weakness accompanied by selective pockets of outperformance, reflecting a highly differentiated market environment.