1. Popular CEX Coins
Top 10 CEX Trading Volume and 24 Hour Price Change:
- BTC: -1.89%
- ETH: -3.16%
- XPL: +9.74%
- SOL: +0.18%
- XRP: -3.56%
- ZEC: +0.69%
- BNB: -0.73%
- SYN: +8.39%
- TRX: -0.98%
- DOGE: -2.4%
24H Price Increase Ranking (Data Source: OKX):
- G: +38.43%
- IP: +26.97%
- HUMA: +18.12%
- APE: +15.99%
- ETHFI: +12.5%
- RESOLV: +11.28%
- RPL: +10.59%
- PARTI: +10.51%
- XPL: +10.22%
- TNSR: +9.76%
24 Hour Crypto Stock Price Increase Ranking (Data Source: msx.com):
- SNXX: 40.16%
- MUU: 25.07%
- SNDK: 21.09%
- BB: 20.19%
- MSTZ: 18.24%
- RAM: 17.7%
- AMAT: 13.35%
- MU: 13.32%
- BNC: 13.01%
- GLW: 11.35%
2. On-Chain Popular Memes (Data Source: GMGN):
- Solana: KOG, AIAIAI
- BSC: PVE
Headlines
BTC briefly fell below 59000 USDT last night
According to OKX market data, BTC briefly fell below 59000 USDT last night.
Strategy Preferred Stock STRC hits a historical low, MSTR falls below 90 dollars
According to data from MSX.COM, MicroStrategy's preferred stock $STRC dropped to a historical low of 75 dollars, while its common stock $MSTR fell below the 90 dollar mark. This double drop further exacerbates market concerns about its asset-liability structure and Bitcoin-related exposure risks, putting continued pressure on investor sentiment.
The Iranian Islamic Revolutionary Guard issued a stern warning to international shipping on Wednesday, stating that any new route established through the Strait of Hormuz without coordination from Tehran is unacceptable and dangerous, threatening direct action against vessels disregarding its directives.
The Iranian Islamic Revolutionary Guard stated that vessels can only safely pass through the Strait of Hormuz via routes designated by Iran. The Revolutionary Guard Navy added that all vessels seeking passage through the strait must coordinate with the Iranian military using the international distress frequency channel 16, effectively placing Iranian military permission at the core of all commercial shipping through this critical choke point. (Jin Shi)
Industry News
OpenAI may delay IPO until next year
According to the New York Times, citing three individuals involved in internal discussions at OpenAI, the company is inclined to delay its IPO until next year. Sources familiar with the matter revealed that OpenAI originally planned to go public as early as the third or fourth quarter of this year. CEO Sam Altman urged financial advisors to find ways to boost the company’s valuation to $1 trillion. However, a series of recent developments have forced OpenAI executives to abandon their initial aggressive plans. Notably, the recent performance of SpaceX, a company owned by Musk, following its IPO this month, has raised concerns. SpaceX's stock price has recently declined, closing at $153 on Thursday after reaching a high of $202 last week. The global market has also experienced volatility in recent weeks, with technology stocks dragging down indices, leading investors to question whether AI companies can live up to their lofty promises. According to two informed sources, OpenAI's advisors warned that retail investors may not have much enthusiasm for the company's stock. (Jin Shi)
Investment banks are raising Micron's target price
According to data from Hina International: the target price for Micron Technology (MU.O) has been raised from $1750 to $2000.
JPMorgan: raised the target price for Micron Technology (MU.O) from $550 to $1540.
Investment bank D.A. DAVIDSON: raised the target price for Micron Technology (MU.O) from $1500 to $2000. (Jin Shi)
SK Hynix counts down to US listing, $30 billion financing may trigger a valuation reassessment
According to US media reports, SK Hynix plans to issue American depositary receipts on NASDAQ on July 10. This listing plan aims to raise nearly $30 billion, potentially becoming one of the largest ADR issues in history. The market generally believes that this move will significantly expand its global investor base and may drive a reevaluation of its valuation.
Several asset management companies expect that if its valuation aligns with Micron's, the stock price could have a 30% upside in the next year. One fund manager pointed out that SK Hynix should at least trade at a valuation level comparable to Micron, as demand for storage chips may continue to exceed supply in the coming years. This listing occurs amid an unusual boom in the storage chip industry. Stocks of Micron, SK Hynix, and Samsung Electronics have all surged over 200% this year, marking the best annual performance in decades. The demand for HBM from AI servers is widely seen as a driving force for a structural "storage super cycle." (Jin Shi)
JPMorgan raises Kospi index target to 15,000 points
JPMorgan raised its target for the South Korean KOSPI index and recommended accumulating shares at dips, maintaining a maximum exposure to the South Korean stock market. JPMorgan strategists wrote in a report: "This stems from our constructive view on artificial intelligence and the profitability of related hardware companies. Retail buying pressure still has room to further increase."
JPMorgan's bullish scenario suggests that the KOSPI index has a 77% upside from its Wednesday closing level of 8471.02 points. JPMorgan also raised the target levels for the base and bear scenarios to 12,500 points and 8,000 points, respectively. (Jin Shi)
Ark Invest increases holdings in Coinbase, Circle, Bullish, and Robinhood
The Block reported on the X platform that Cathie Wood's Ark Invest purchased more shares of Coinbase, Circle, Bullish, and Robinhood during the market downturn on Thursday.
NASDAQ-listed Ethereum treasury company Sharplink announced that it has signed a securities purchase agreement to sell 10,013,400 common shares and corresponding warrants for approximately $75 million, which will be used for working capital, continue accumulating ETH assets, and repurchase company shares according to the stock repurchase plan.
Sharplink also disclosed that as of June 16, the company held a total of 875,776 ETH. (B2i)
SBI Group acquires Bitbank for $289 million
SBI Group announced the acquisition of Japanese cryptocurrency exchange Bitbank for 46.7 billion yen, approximately $289 million. Through this acquisition, SBI's cryptocurrency custody balance is expected to exceed 1 trillion yen, approximately $6.2 billion, becoming the largest cryptocurrency business in Japan.
A subsidiary of SBI Holdings will acquire shares of Bitbank from founders and other individual shareholders in August, after which Bitbank will acquire shares held by existing shareholders Mixi and Ceres before the end of October. Combined with SBI VC Trade's account data as of April, the total number of accounts after the merger is approximately 2.92 million, with a total managed asset of approximately 1.1 trillion yen.
WSJ: Wallets linked to Iran transfer over $3.84 billion in assets through CoinEx
Since 2019, wallets with clear links to Iran have transferred over $3.84 billion in transactional funds through the cryptocurrency exchange CoinEx. Notably, wallets managed by CoinEx received hacked cryptocurrencies obtained by the Iranian central bank and directly transacted with accounts previously attributed to the Iranian Islamic Revolutionary Guard by US officials.
Blockchain data indicates that CoinEx has replaced Binance as the largest foreign trading partner for Iran's major domestic cryptocurrency exchange Nobitex as of 2024. Last year, the financial interactions between Nobitex and CoinEx exceeded $763 million. Additionally, from 2022 to 2025, wallets managed by CoinEx processed transactions for Iranian national Alireza Derakhshan, suspected of being involved in a sanctioned oil sales network. (WSJ)
CoinEx stated that regarding the recent report by the Wall Street Journal mentioning Alireza Derakhshan and related transactions with Zedcex/Zanjani, based on the information currently available, these transactions occurred before the US Treasury imposed sanctions on the entities mentioned. CoinEx does not provide services for any sanctioned entities or individuals and has never facilitated any form of assistance to them while knowing these entities were sanctioned. CoinEx has never established any commercial partnership with Iranian government-related entities or domestic exchanges in Iran, nor has it provided funding channels or any form of proactive assistance to Iranian government agencies, Revolutionary Guard-related entities, or other sanctioned subjects.
Project News
Circle and Nomura plan to launch stablecoin settlement service in Japan by 2027
Circle and Japanese financial institution Nomura plan to launch a stablecoin settlement service targeted at businesses in Japan, aiming for a launch as early as 2027. The service will support businesses in using stablecoins for instant foreign exchange conversions and cross-border payments.
Kalshi in talks for financing at a $40 billion valuation
The prediction market platform Kalshi is in discussions to raise a new round of financing at an estimated valuation of $40 billion, with the deal potentially closing as early as the third quarter. Kalshi recently completed a $1 billion financing round, with investors including Sequoia Capital, Andreessen Horowitz, Coatue, and Morgan Stanley, then valued at $22 billion.
Kalshi CEO Tarek Mansour stated that the company is considering an IPO, but will not go public until 2026, with the related listing timeline possibly not earlier than late 2027 or 2028. Kalshi reported that by April 2026, its annual trading volume reached $178 billion, growing 32 times year-over-year.
Kalshi is currently in a legal dispute with state and federal regulators over the regulatory authority of prediction markets, particularly concerning whether sports event contracts fall under CFTC-regulated derivatives or unlawful gambling. CME has sued the CFTC over Kalshi's approval of "perpetual" futures, and Kentucky has filed a lawsuit against Kalshi and Polymarket, with the CFTC subsequently suing Kentucky to prevent its enforcement. (Decrypt)
Sonic stated on the X platform that its token economics outlines the minting of 47.625 million tokens annually to fund growth, originally set to mint on June 18, 2025. S
onic reported that this year’s minting did not occur and is actively working to stop increasing token supply, with the only unresolved issue being validator rewards, as the network needs to fund its security, and the team is researching solutions. Sonic mentioned that this decision is a direct response to the requests made by the community and stakeholders, and more details will be shared as progress continues.
Having raised $70 million, Sophon announced it will shut down its self-operated Layer 2 blockchain and migrate to Base, with future focus on consumer-grade application development. Sophon stated that continuing to invest millions annually in maintaining its own chain is no longer justified.
Sophon co-founder Sebastien mentioned that the project's judgment is that real value does not lie in "who operates the underlying track" but in the products built upon it. Therefore, Sophon will no longer maintain infrastructure but rather concentrate resources on the application layer.
It is reported that Sophon previously spent about $3.4 million annually maintaining its blockchain, covering expenses such as chain infrastructure, RaaS, data, analytics, and development tools. After shutting down the proprietary chain, it is expected to reduce annual consumption by approximately $3 million, extending the funding runway and allowing more capital to be invested in application development.
The Ethereum Layer 2 project Taiko released updates on the recent security incident, stating that this incident will not lead to any losses of user funds, and that the bridging assets are currently under-collateralized, but will be fully supplemented before the bridge reopens to ensure that every user's balance receives 1:1 support, consistent with before the incident. Since the occurrence of the security incident, cautious measures have been taken, including controlling the scope of impact, identifying the cause of the incident, and collaborating with the board to formulate plans to protect user assets.
Investment and Financing
Cloud computing startup Runpod completes $100 million financing
Cloud computing startup Runpod announced the completion of $100 million in financing and stated it has rejected multiple acquisition offers; specific investor information remains undisclosed. The company focuses on providing developers with GPU computing power rental services to support deployment of open-source models and AI applications. Currently, this sector relies heavily on NVIDIA GPU servers for computing resources, and with the expansion of AI applications, the market demand for low-cost, high-flexibility computing infrastructure continues to rise, pushing the valuations and financing enthusiasm of cloud service providers like Runpod upward. (The Information)
AI Agent infrastructure Sail Research completes $80 million financing, led by Kleiner Perkins
AI Agent infrastructure company Sail Research announced the completion of $80 million in seed round and Series A financing, led by Kleiner Perkins, with participation from Redpoint Ventures, CRV, Theory Ventures, and others. Sail Research focuses on building infrastructure for AI Agents, aiming to address current limitations in computational power, costs, and operational constraints in long-duration, multi-step tasks. Its API is compatible with OpenAI interfaces and supports mainstream open-source models such as DeepSeek and Gemma. (PRNewswire)
NASDAQ-listed Solana treasury company Upexi announced it has signed a securities purchase agreement, raising $19.5 million by selling approximately 12,242,300 common shares (or equivalent prepaid warrants) at an issue price of approximately $1.60 per share. The new funds will be used to repay existing debt and continue increasing strategic reserves of SOL assets. (Globenewswire)
AI infrastructure company Neurometric AI announced completion of a total of $4 million in financing, with participation from Betaworks, ex-Ante, Everywhere.vc, and other institutions. The company has simultaneously launched an automated Token engineering platform aimed at coordinating and optimizing the operational load of AI Agents, achieving total cost management and performance enhancement of agents, addressing industry pain points such as excessive token consumption and inefficient computational scheduling in large-scale AI agent deployments. It is reported that the $4 million raised will be entirely used to expand the engineering development team and frontier AI research team. (PRNewswire)
AI data analysis platform Polysights, supported by Polymarket, announced completion of $1.5 million in Pre-Seed funding, with participation from YZi Labs, Maven11, Varys Capital, Contribution Capital, and Edge Ventures. The platform is still in beta stage, and the new funding will support its use of AI technology to detect wallet clustering behaviors, market anomalies, and potential insider trading signs, providing data analysis support for traders, research institutions, and institutional investors. (CNBC)
Animoca Brands announced a strategic investment in stablecoin payment infrastructure company AllScale, with specific investment amounts not disclosed, aiming to explore stablecoin payment solutions across over 600 portfolio companies under Animoca Brands and advance autonomous payment scenarios for AI agents.
AI Agent infrastructure project Orthogonal announced completion of $4.3 million in seed round financing, led by Pantera Capital, with participation from Y Combinator, Pioneer Fund, Decasonic, Blast, Outbound, Surreal, and others.
Orthogonal positions itself as the underlying infrastructure for internet discovery, orchestration, and payment for AI agents, providing full capabilities for service search, cross-tool task automation, and on-chain instant payments. It is reported that the funds raised in this round will be used for core platform iteration development, expanding engineering and marketing teams, continuously growing the developer community for the platform, and improving the interoperability ecosystem for AI agents. (Prnewswire)
Regulatory Policies
Only 231 cryptocurrency companies have obtained MiCA licenses, with over 1200 companies applying
With just 5 days remaining until the deadline for the EU's Markets in Crypto-Assets Regulation (MiCA), of the more than 1200 cryptocurrency companies that applied before MiCA takes effect, only 231 have obtained licenses.
Voices of Figures
Multicoin: HYPE may reach $319 by 2028
Multicoin released a report stating that the market severely undervalues Hyperliquid's native token HYPE, predicting that it has over 400% room for growth in the coming years. The institution expects that under the base scenario, the price of HYPE could reach approximately $319 by 2028.
Multicoin believes that the current market is overly narrowly viewing Hyperliquid as a fast-growing decentralized perpetual contract exchange, when in fact, it is evolving into an "Everything Exchange" that covers multiple assets and trading scenarios.
The report notes that at its current price of approximately $63, HYPE is significantly mispriced. Multicoin anticipates that by 2028, Hyperliquid's annual earnings could reach about $8 billion, valuing HYPE at around $319 using a 20 times earnings multiple.
Multicoin also disclosed that it has been actively buying HYPE since February of this year, and that HYPE has now become one of the largest positions in its liquidity hedge fund. Recently HYPE hit a historic high above $76, driven by positive factors such as ETF fund inflows, strong protocol revenues, and aggressive buyback plans, and then corrected with the market, closing around $62.47 as of Thursday afternoon.
CryptoQuant: Strategy should stop buying Bitcoin and strengthen cash reserves
On-chain analysis platform CryptoQuant stated that Strategy should cease buying Bitcoin and bolster cash reserves.
US market conditions show that Strategy's stock price has fallen below the $90 mark, currently reported at $89.9, with a market value approaching $2 billion.
Serenity, known as the "white-haired stock god," posted on the X platform that Micron's (MU) CEO predicts that memory demand cycles driven by humanoid robots will last for decades. The CEO stated that the memory required for humanoid robots is about 10 times that of current L2+ level automatic driving vehicles, and this wave of demand is expected to begin within a decade.
Additionally, Micron predicts that the value from AI on the device side, combined with pent-up device replacement demand, will jointly drive memory demand growth. Serenity pointed out that industry leaders, including TSMC's chairman, Tesla (TSLA) CEO Elon Musk, and Micron's CEO, view humanoid robots as the next major trend, and physical AI may become the next development direction.
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