24/7 Blockchain industry dynamics and breaking crypto news
Zhu Su draws a compelling parallel between AI and petroleum. Both require massive capital, are likely to become commoditized, and deliver broad societal benefits alongside significant externalities like energy consumption and job displacement, offering a framework for AI's future.
Read MoreHong Kong's stablecoin market is set for a major development. Anchorpoint, backed by Standard Chartered and one of the first licensed issuers, plans to launch a Hong Kong dollar-pegged stablecoin by month-end, marking a key step in the city's regulated digital currency ecosystem.
Read MoreOn-chain monitoring reveals a whale address holding a 57,000 SPCX long position, initially worth ~$7.14M, now facing over $1M in unrealized losses. This highlights the extreme risks of leveraged crypto trading amid market volatility.
Read MoreCoinbase CEO Brian Armstrong addressed recent Bitcoin market discussions. He views short-term capital shifts as temporary, while the redirection of mining energy to AI may have lasting effects. Crucially, he asserts Bitcoin's long-term price reflects inflation fears driven by persistent government deficits, not mining power.
Read MoreMoody's Analytics warns South Korea's Q2 economic growth may slow sharply to 0.9% from 1.8% in Q1. While AI-driven semiconductor exports provide key support, weak domestic demand and persistent inflation pressures cloud the outlook. Preliminary GDP data due Thursday will be closely watched.
Read MoreBinance will cease support for the Moonriver (MOVR) and Moonbeam (GLMR) mainnets starting July 20. Deposit and withdrawal services for these tokens will transition to the Base network, requiring users to update their transaction processes accordingly.
Read MoreGameStop has increased its stake in eBay to 9.8%, holding over 43.4 million shares. The company's CEO confirmed in an interview that acquisition plans for eBay are moving forward, signaling an aggressive expansion strategy.
Read MoreEconomist Zhao Jian warns that China's stock market shows signs of a "structural bubble," with distorted volume and negative returns for most retail investors. He urges policymakers to implement a decisive rescue package exceeding past measures, combining liquidity support, trading curbs, and property market stabilization to restore market health.
Read MoreAn AI company's stock plunged over 17% before Hong Kong market open, extending recent losses amid heightened competition concerns in the large language model sector. Remarkably, its largest bull position, facing nearly 300% unrealized loss, continued to buy the dip to average down, signaling extreme risk tolerance.
Read MoreStock trading influencer Serenity, famed for a 4502% return, discloses a severe 49.4% portfolio drawdown. His concentrated bets on volatile AI and small-cap stocks triggered the plunge. Undeterred, he tolerates high volatility and predicts a turnaround in late 2027.
Read MoreOn July 20th, South Korea's stock market experienced sharp volatility, with the benchmark KOSPI index briefly falling below the key 6,500-point level, recording an intraday drop of 4.72%. This sudden plunge has drawn significant market attention as investors seek underlying causes.
Read MoreAll eyes are on Japan's inflation data this Friday. Analysts suggest weaker-than-expected core CPI could delay BoJ rate hike expectations, potentially pushing USD/JPY to test resistance near its yearly high of 162.84. The pair may trade near these elevated levels throughout the week.
Read MoreJapanese logistics leader AZ-COM Maruwa Holdings plans to use the yen-pegged stablecoin JPYC for payments to partners and truck drivers, marking its first major corporate adoption. Amazon Japan, a key client, is involved, signaling accelerated blockchain integration in real-world supply chains.
Read MoreOn July 20, the South Korean exchange activated the sidecar mechanism for the KOSPI index, halting program trading for five minutes. This circuit breaker is designed to curb extreme volatility and provide a cooling-off period during sharp market moves.
Read MoreCiti has revised its rating on South Korean equities to 'Neutral' from 'Overweight', citing heightened market volatility. The move signals growing caution over short-term risks amid macroeconomic uncertainties.
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