On June 23, 2026, the market layered too many dimensions of noise and signals on the same candlestick: on one side, the Alternative.me fear and greed index fell to 17, signaling "extreme fear"; on the other side, the "Draft Amendment to the People's Bank of China Law" was proposed for the first time, with media mentioning that it "seeks to clarify the status of the digital RMB at the legal level," bringing the sovereign digital system to the forefront. According to Onchain Lens monitoring, a newly created wallet address withdrew approximately 278,827 HYPE from Coinbase that day, worth about 17.45 million dollars at that price, completing a large withdrawal that was completely contrary to the prevailing emotion of panic. During the same time window, Sonic Labs announced that the Fantom Opera, which was originally set to shut down, would be extended to the end of this year with a new leadership and governance structure, while Turbos Finance launched a "stable range farming" feature targeting anchored asset LPs on the DeFi side, and Anthropic's security system Mythos exposed critical infrastructure vulnerabilities in the U.S. Amid macro adjustments, regulatory expectations, on-chain whale rebalancing, extended blockchain lifespans, AI security, and DeFi iterations intertwined on this day, behind the price curve of extreme fear, institutions and developers did not hit pause but quietly restructured their chip structures and runway bets.
Extreme Fear Index 17: AI Stocks Plummet and Crypto Sentiment
On June 23, the sentiment plummeted into a trough. According to Alternative.me data, on that day, the cryptocurrency fear and greed index fell to 17, diving into the "extreme fear" range, with a chart resembling a broken needle pointing downward: short-term participants were forced to exit, long-term holders chose silence, and both buy and sell sides became hesitant. This sentiment did not belong solely to the blockchain; at the same time, the U.S. AI sector clearly adjusted, with stocks like Micron and SanDisk plunging over 13%, and light module and storage sectors generally decreasing, pouring a bucket of cold water on the "AI concept." The emotional index and stock market performance merged into a signal: during this window, market tolerance for highly volatile, high-narrative assets simultaneously declined, prompting a collective awakening of risk aversion instincts.
It is worth emphasizing that these data primarily depict mentality and pricing environments rather than the actual flow of funds. The fear and greed index merely illustrates expectations, and the substantial decline in AI hardware stocks only proves that risk assets face phase pressure, without directly providing a quantitative path for fund inflows and outflows in the crypto market. In this context of reduced risk appetite, most on-chain accounts choose to retreat and observe, which is precisely why those large-scale reallocations and structural bets made contrary to indices and stock prices during extreme fear resemble clearer signals left behind after noise was dampened.
Withdrawal of 278,827 HYPE Bets on New Wallet
On the very day when the fear and greed index dropped to 17, with emotions pushed to the lowest level, according to Onchain Lens monitoring, a previously unseen new wallet address suddenly withdrew about 278,827 HYPE from Coinbase, equivalent to about 17.45 million dollars at that time. On-chain records show that this address had almost no history before the withdrawal, lacking early small tests or interactions with other exchanges or applications, resembling a "clean account" specifically generated for this withdrawal. At a moment when most participants were hesitating, the decision to pull such a large amount of capital in one go appears more like a bottom-up concentrated build-up than mere positional adjustments or cross-platform transfers.
Due to the lack of further operations, the true intention of this new wallet is left in limbo on-chain: is it preparing for long-term cold storage awaiting high returns after sentiment warms up, or is it merely a temporary risk aversion, potentially flowing back to exchanges in the future? Currently, there is insufficient evidence to conclude. However, it can be confirmed that, in an environment of extreme fear, such a withdrawal characterized by "reconfiguring chips" has provided a clear and specific anchor point for observing the subsequent divergence of long and short positions in HYPE.
Fantom Opera Extended for Ecological Breathing Space
On the same day when panic sentiment was extremely amplified and the substantial withdrawal of HYPE was being repeatedly scrutinized, Sonic Labs rewrote another timeline on platform X: the Fantom Opera network, originally scheduled to close by the end of this month, was announced to extend operations until the end of this year. For the project parties and users who had already assumed "the end of the month is the finish line," this was not just a simple few extra months but a complete migration script that had to be rewritten—from "racing against time" to "an additional round of multiple-choice questions."
Moreover, this extension was not merely a technical maintenance of operations but was accompanied by a complete reorganization of power and direction. Sonic Labs simultaneously announced a new leadership structure and mentioned multiple governance and operational adjustments, indicating that who decides resource allocation and how to set subsequent upgrades or shutdown paths now has potential variables. For participants still maintaining active applications or holding assets on Fantom Opera, the originally imminent hard deadline is pushed back to the end of the year, easing the passive pressure of "selling off, bridging away, migrating chains," and also elongating the gaming cycle: whether to gradually exit using the extra window or to wait for the execution of new governance to bet again on an "old chain turnaround," each participant must recalibrate their action rhythm on this extended timeline.
Digital RMB Enshrined in Law and Open Crypto Divide
On the same day when on-chain participants calculated migration windows and exit rhythms, on June 23, 2026, the "Draft Amendment to the People's Bank of China Law" was proposed for the first review by the 14th National People's Congress Standing Committee. Multiple media cited public information stating that this amendment aims to further clarify the status of the digital RMB in law, officially embedding the central bank-issued legal digital currency into the higher legal framework, equivalent to completing a piece of the foundational institutional puzzle for the "national version of digital currency," reinforcing its infrastructural role in the payment system.
This institutional signal contrasts sharply with decentralized tokens operating on the same timeline: on one end is the sovereign tool issued by the central bank pointing towards the digitalization of legal currency, while on the other end are crypto assets that spontaneously price themselves in an open network without a single issuer. The boundaries have become clearer—what has been incorporated into law means that its usability in compliant scenarios like domestic payments and settlements is being confirmed; the latter, however, continues to remain in a vague zone under the existing regulatory framework. It should be emphasized that current public reports have not disclosed the specific text details of the amendment and cannot infer whether there will be new direct regulatory arrangements for other crypto assets. However, for domestic users and institutions, the divide between the digital RMB and open crypto assets in compliant usable scenarios is being systematically solidified into two distinctly different options.
AI Security Alerts and New DeFi Play Coexist
As the institutional status of the digital RMB was brought to the forefront, another technical clue rang alarm bells from afar. Anthropic revealed that its developed cybersecurity system, Mythos, discovered security vulnerabilities in the U.S. critical infrastructure during testing, but the public information neither provided specific technical details of the vulnerabilities nor named the affected facilities, typical of "reporting the fire without revealing coordinates." In the same time window when the U.S. AI sector experienced a significant pullback and the fear and greed index fell to 17 according to AiCoin data, this news brought the questions of "what can AI discover and what could it be used for" to the forefront: algorithms are no longer just carriers of valuation stories but are directly coupled with infrastructure like power grids, transportation, and financial systems. Whether the technology itself is reliable now begins to overshadow the decibels of "whether a growth story can be told."
In contrast, the DeFi sector did not hit pause. Turbos Finance announced the launch of the "stable range farming" function, clearly aiming at the yield and user experience of stablecoin LPs. Amid macro uncertainty and a general shift in risk assets, it still attempts to carve the management of passive positions on-chain through more refined product forms. From the naming and positioning, it is not merely adding another pool but constructing narrower and more controllable strategy-level designs on the same asset class. Security alerts and protocol iterations appeared on the same day; on one side, the AI system focuses on the lifelines of the real world, while on the other, on-chain protocols continue to refine details for the yield curve. Crypto and AI, these two technological clues, simultaneously tug between risks and opportunities, making technological reliability an unavoidable core issue for all participants.
Post-Extreme Fear: Observing Compliance Advances and On-Chain Movements
On the day when the panic index fell to "extreme fear," with the amendment to the central bank law starting its first review, a large single withdrawal from the new HYPE wallet, the extension of Fantom Opera, and the launch of Turbos' new function all coincided. While emotional layers are contracting, regulation and on-chain developments are not unidirectionally "retreating." On one side is the expectation that the digital RMB is being written into higher law, pointing towards the digital reconstruction of the sovereign system; on the other side are the HYPE withdrawal address that has not produced subsequent actions, the uncertain fate of Fantom Opera now delayed to the end of the year, and the newly launched farming tool lacking participant scale data, which together form a picture of "sovereign digitization" coexisting with "open crypto experimentation." What needs to be closely monitored next is not a specific candlestick but the subsequent articles and implementation rhythm of the central bank law, the future holdings and turnover paths of the HYPE new wallet, the migration and reorganization progress of the Fantom ecology, as well as user feedback on products like Turbos; before more quantitative indicators are revealed, these movements appear more like structural clues and medium-long-term narrative fork points rather than immediate trading guidelines that can be directly converted into short-term position decisions.
Join our community, let’s discuss together and become stronger!
AiCoin exclusive Hyperliquid benefits: https://app.hyperliquid.xyz/join/AICOIN88
AiCoin exclusive Aster benefits: https://www.asterdex.com/zh-CN/referral/9C50e2
On-chain Telegram community: https://t.me/AiCoinWhaleData
On-chain community: https://www.aicoin.com/link/chat?cid=N6OVMor5g
AiCoin on-chain Twitter: https://x.com/aicoinwhaledata
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
