Editor's note: In the article of last week’s "Cryptocurrency and Stock Market Barometer", we mentioned that "the Korean stock market is facing a correction in the short term." Over the past week, the Korean stock market appears to still be in a stage of "violent deleveraging and aggressive deflation." Despite SK Hynix listing its US stock ADR on July 10, the price still experienced a deep correction. Today, the KOSPI index in Korea dropped by another 8%, triggering a circuit breaker; foreign capital is fleeing rapidly, while retail investors choose to "take over for the country." In terms of price, the stock price of SK Hynix has fallen from the peak of 2,917,000 KRW on June 25 to 2,096,000 KRW, a decline of over 28%. Currently, the only hope is for up to 28 billion USD in US stock funds to absorb the selling pressure on the 10th (this Friday). After Samsung announced "Q2 operating profit of 89.4 trillion KRW, 6% above market expectations," its stock price plunged over 8%. The market widely believes this data has been fully priced in in advance, which has dragged the Korean index down. From my personal perspective, the leading stocks in the Korean market have reached a temporary low. It is not excluded that they may further decline later, but they have already entered the strike zone.
On the US stock front, last night, Trump's "Trump Account" event held in the White House provided a strong boost to the market. During the event, he promoted Dell (DELL) and Micron (MU); and he explicitly stated "the market is going to skyrocket," "short sellers are being liquidated," "I never liked short sellers because they are betting against the country." SpaceX and Robinhood are also within the influence of the "Trump Account," and are expected to benefit in the long term from this type of capital allocation.
Finally, there is new news regarding Changxin Storage mentioned last week. According to a report by Korean media, Changxin Storage is testing a packaging DRAM production line, which may lead competitors in Korea, such as SK Hynix and Samsung Electronics, in both technology and development speed. The significance level for Changxin Storage's IPO has been raised again, and it can now be classified at the same S level as SK Hynix's US stock listing.
As for cryptocurrency concept stocks, with Bitcoin prices beginning to rebound slightly above 64,000 USD, MSTR, BMNR, and CRCL have also experienced a small rebound. However, given the current market lacks sustainable long-term momentum support, downward trends may continue. Coupled with some DAT treasury companies liquidating their holdings, related stocks have plunged, and short selling is another option for investors.
For more information on the cryptocurrency stock market MSX.COM. (Note: The content of this article does not constitute investment advice and is for learning and communication purposes only).
Stock Market Insights Overview: Chips and Memory Remain the Main Theme, Cryptocurrency Market Still Weak
Chip stocks lead the way, S&P 500 index is expected to break 8000 points, institutions are bullish on Micron, bearish on Qualcomm
The Kobeissi Letter states that chip stocks have become the new leading sector in this round of the US bull market. Although many stocks of the "Magnificent 7" have fallen over 20% from recent highs, the semiconductor sector has taken over the leadership baton. In fact, among the 10 best-performing stocks in the S&P 500 this year, 8 are from the chip industry. As major tech stocks regain market dominance, and while the semiconductor sector remains strong or experiences high-level fluctuations, the S&P 500 index is expected to break through 8000 points.
Moreover, a Citibank analyst stated in a research report: "Considering that DRAM chip prices are expected to rise in the second half of 2026, Micron Technology has been added to the 'upward catalyst' watch list; at the same time, due to weak smartphone sales growth, Qualcomm has been added to the 'downward catalyst' watch list." The analyst noted: "Fundamentally, demand for AI computation is still in a state of supply-demand imbalance, which is reflected in the recent 20% increase in AWS EC2 GPU prices. The shortage of DRAM is the biggest constraint on current computing power supply."
Perspective: The memory chip sector may replicate Nvidia's trend of "fundamentals hitting new highs while stock prices remain flat"
Researcher Jukan Citrini wrote that the current market expectations for the memory chip sector are at a relatively high level, regardless of whether financial reports exceed expectations, stock prices may face pressure. If performance exceeds expectations, the market may worry that the industry cycle has peaked; if performance does not meet expectations, it may be interpreted as the end of the memory chip boom cycle. Jukan also expressed concerns that the memory chip sector may replicate Nvidia's previous trend of "fundamentals continually hitting new highs while stock prices remain stagnant," which means corporate profits continue to break records but the market expectations are already fully priced in, resulting in relatively muted stock price performance.
This month, the cryptocurrency market's activity level is low, while US stocks and commodity prices may deserve more attention
Macro researcher Adam from Greeks.live reported that based on the distribution of open interest, all terms are low before the end of this month, totaling about 15%, which indicates a low level of market activity. On the other hand, GEX is concentrated on 60,000 USD put options and 63,000 USD call options, corresponding to the upper and lower limit prices of the recent two volatility ranges; the market may significantly follow external markets, and recently US stocks and commodity prices deserve more attention.
Weekly Update on Cryptocurrency-Stock Listed Companies' Developments
Representative Companies Among Bitcoin Treasury Listed Companies
According to SoSoValue data, as of 8 AM Eastern Time on July 6, 2026, last week the net total weekly purchases of Bitcoin by globally listed companies (excluding mining companies) amounted to 10.57 million USD, a decrease of 27.85% compared to the previous week.
Strategy (formerly MicroStrategy) sold 1,363 Bitcoins on June 30 for about 80.8 million USD, at an average price of 59,256 USD, reducing its holding to 846,000 Bitcoins; on July 5, it again sold 2,225 Bitcoins for about 135 million USD, at an average price of 60,773 USD, further reducing its holding to 843,775 Bitcoins.
Japanese-listed company Metaplanet announced its first investment of 225 million USD in Bitcoin in ten weeks, purchasing 2,823 Bitcoins at a price of 79,664 USD, bringing its total holdings to 40,177 Bitcoins.
Additionally, two other companies purchased Bitcoin last week. Brazilian Bitcoin company OrangeBTC announced on July 5 that it acquired 1 Bitcoin, with the specific amount undisclosed, bringing its total holdings to 3,897 Bitcoins; asset management firm Strive announced on July 6 that it spent 1.68 million USD to purchase 17.76 Bitcoins at a price of 64,761 USD, bringing its total holdings to 19,882 Bitcoins.
As of the publication time, the total Bitcoin holdings of globally listed companies (excluding mining companies) amount to 1,141,812 Bitcoins, a decrease of 0.04% from the previous week, with a current market value of approximately 7.03 billion USD, accounting for 5.7% of the circulating market cap of Bitcoin.
Empery Digital accumulated 1,200 BTC in the last 6 days, valued at 7.265 million USD
According to Onchain Lens monitoring, Nasdaq-listed company Empery Digital (3KPA...NL9c) received another 200 BTC, valued at 12.84 million USD; over the past 6 days, the company has accumulated 1,200 BTC, valued at 7.265 million USD.
Market data shows that listed companies have net purchased 166,984 Bitcoins year-to-date, double the 81,153 Bitcoins mined since the beginning of the year, averaging 912 Bitcoins bought daily.
Korean-listed company K Wave Media liquidated 88 BTC, exiting the Bitcoin treasury company sector
According to BitcoinTreasuries data, Korean-listed company K Wave Media (KWM) has sold all of its remaining 88 BTC to repay 6 million USD in debt. After the sale, the company's Bitcoin holdings have dropped to 0, exiting the Bitcoin treasury company sector.
K Wave Media had announced last year that it obtained the capability for 1 billion USD in Bitcoin treasury financing and planned to expand its Bitcoin holdings to 10,000 units as soon as possible. However, in May this year, the company shifted its remaining financing limit of up to 485 million USD from Bitcoin treasury strategy to AI infrastructure construction, including data centers, GPU computing power, and related acquisitions.
Bitcoin mining and treasury firm American Bitcoin, founded by Eric Trump and Donald Trump Jr., announced that it will implement a 1:15 reverse split next week to meet Nasdaq's minimum purchase price requirement of 1 USD.
This reverse split will take effect after Thursday's market close, and will continue trading under the ABTC code at the adjusted price starting Monday. According to the arrangement, every 15 shares of Class A and Class B common stocks will automatically combine into 1 share, reducing the total number of outstanding shares from approximately 1.09 billion to about 73 million shares. This split plan was approved at the annual shareholders meeting in June.
American Bitcoin's stock price fell to approximately 0.64 USD on Wednesday, with a year-to-date decline of over 64%. The company currently holds 7,500 Bitcoins, making it the sixteenth largest publicly listed Bitcoin holder.
Empery Digital invested 65 million USD in establishing an AI data center in the US
Nasdaq-listed Bitcoin treasury company Empery Digital announced that it has signed a final cooperation agreement with Hunt Properties, investing 65 million USD to acquire a 25% equity stake in a new project entity. This entity plans to acquire and renovate industrial buildings in the US Midwest to create a professional AI data center.
The two parties have established a long-term strategic partnership, working together to develop computing power assets, promote the expansion of AI and high-performance computing (HPC) infrastructure, and consolidate advantages in power supply, grid access, and capital market financing. Meanwhile, Empery Digital announced it will terminate the previous external data disclosure based on the net asset value (NAV) of Bitcoin holdings. The company explained that the current asset structure can no longer solely rely on Bitcoin holdings for measurement, and future focus will be on seizing growth opportunities in AI computing power and energy infrastructure, diversifying to expand real computing power business.
Representative Companies Among Ethereum Treasury Listed Companies
Ethereum treasury company Bitmine disclosed that it increased its holdings by 42,197 Ethereum last week. As of June 28, 2026, its total Ethereum holdings reached 5,742,237, accounting for approximately 4.8% of the total Ethereum supply.
Currently, the total value of cryptocurrencies, cash, and other investment assets held by Bitmine is approximately 11.1 billion USD, which includes 527 million USD in cash and securities, 206 Bitcoins, 180 million USD in Beast Industries equity assets, and a 71 million USD investment in Eightco Holdings (ORBS). As of July 5, it has pledged 4,879,157 Ethereum (85% of total holdings), valued at approximately 8.8 billion USD, with current annualized staking yield of about 235 million USD.
Sharplink previously increased its holdings by 10,000 ETH, raising total holdings to about 886,725
Last week, Nasdaq-listed Ethereum treasury company Sharplink (SBET) announced it has added 10,000 ETH at an average purchase price of approximately 1,611 USD, raising its total Ethereum holdings to approximately 886,725. At the same time, the company has repurchased 2,132,773 shares of common stock in the open market at an average price of 4.69 USD, bringing the total repurchased shares to 4,071,223 since starting its repurchase program in August 2025.
As of June 28, Sharplink's total Ethereum holdings structure includes: 632,719 native ETH, 181,299 LsETH equivalent assets and 72,707 weETH equivalent assets. The company stated it will continue to implement a dual-track capital strategy of expanding ETH asset reserves and repurchasing shares concurrently.
Representative Companies Among Solana Treasury Listed Companies
Solana treasury company Forward Industries released its update for the third quarter of fiscal year 2026. The report reveals that the company increased its holdings by over 500,000 SOL this quarter, bringing total holdings to 7.55 million.
Additionally, the fully diluted value per SOL rose from 0.0669 in the previous quarter to 0.0729, reflecting a quarter-on-quarter annualized growth of 36%. During the same period, the company issued 93,642 shares of common stock through At The Market (ATM), completing value-added financing at a premium over net asset value (NAV).
Forward expressed that it will continue to utilize public market capital operations (including discounted repurchases, premium issuances) and leverage strategies (with fwdSOL as collateral) to enhance per share SOL holdings, while further broadening institutional capital channels through inclusion in the Russell 2000 and Russell 3000 indices.
Representative Companies Among Altcoin Treasury Listed Companies
On July 3, HYPE treasury company Hyperliquid Strategies (PURR) announced that in the past week it has accumulated 600,000 native tokens HYPE, valued at approximately 40.6 million USD at current market price. This accumulation utilized 36 million USD in cash positions, and the institution currently still holds a cash reserve of 149.4 million USD. The adjusted net asset value per share (mNAV) of this institution is nearing or even below 1, thus no new shares have been issued; this accumulation was completed entirely using its own cash.
Nasdaq-listed company Avalanche Treasury Corp (AVAT) indicated in its quarterly report submitted to the SEC that there are significant doubts about the company's ability to continue operations.
Data shows that AVAT's stock price has dropped a cumulative 93% in the past month, from over 10 USD in early June down to below 0.73 USD on June 29. The company completed its merger listing with Mountain Lake Acquisition Corp on June 11, planning to establish a 1 billion USD AVAX reserve, but its approximately 265 million USD position in AVAX has now shrunk to about 123 million USD. Additionally, AVAX has experienced a year-to-date decline of about 47%, and was reported at around 6.72 USD last Wednesday.
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