Tom Lee: Ethereum to Kick Off 'Second Growth Curve' as Wall Street Institutions Expand Ecosystem Footprint

According to GMGN market data, the meme coin CASHCAT on Robinhood Chain has fallen 30.47% over the past 24 hours, with its current market capitalization standing at $147 million. Meme coins are highly volatile, and investors should exercise caution regarding risks.

According to Bitget market data, South Korea's KOSPI extended its intraday decline to 8%. SK Hynix is currently down 13%, while Samsung Electronics has fallen 9%.

According to Hyperinsight monitoring, SPCX opened at $150 on its first trading day, and has now fallen approximately 4.8% from that opening price, leaving just $7.8 between its current price and the $135 IPO price. On its first day, SPCX traded at an ~11.1% premium to its IPO price, and nearly half of that premium has now been erased. All whales holding long positions on the asset on Hyperliquid have moved into unrealized loss territory. Notably, an address starting with 0x8e0 that began going long on SPCX on the day it was added to the Nasdaq still holds a 20x leveraged long position worth roughly $1.985 million. The liquidation price of this position is approximately $137.98, just $4.82 away from the current price, making it the address on the platform closest to liquidation. As of press time, the position’s average entry price is $153.68, while SPCX is currently trading at around $142.80, resulting in an unrealized loss of ~$151,000 and a position return of -141.7%. Data shows this whale has been buying SPCX continuously since July 7, executing a total of 190 trades to open 13,903.45 long contracts, with execution prices ranging from $145.99 to $156.22, for a total trading volume of ~$2.137 million. No voluntary long liquidation records have been observed during this period. - HyperInsight Bot is now live. Add @HyperInsightBot to your TG group and set it as an admin (enable message sending permission) to automatically sync on-chain news.

A South Korean trading platform triggered the KOSPI index circuit breaker, with the index plunging 8% and trading suspended for 20 minutes.

Daiwa Securities released a research report projecting that Tencent Holdings will raise its AI capital expenditure expectations, which will pressure its mid-term earnings. Meanwhile, its gaming business growth has slowed amid a high base, though its market share growth momentum remains intact. The brokerage cut Tencent’s 2026 to 2028 earnings per share (EPS) forecasts by 1% to 6% to reflect these impacts. Daiwa sharply raised Tencent’s 2026 AI capital expenditure forecast from the original 108 billion yuan to around 181 billion yuan, to reflect the company’s stronger commitment to AI investment and improved chip supply. While higher depreciation will weigh on its near-term and mid-term earnings performance, this is also expected to drive faster expansion of its cloud business and monetization of AI demand, with such benefits anticipated to materialize as early as the second half of 2026. Daiwa maintained its "Buy" rating on Tencent, lowering its target price from HK$700 to HK$670.

Token Pocket Chief Business Officer Michael posted that the seed phrase of Robinhood’s founder was leaked during his live stream. Hackers gained control over the address, then used it and associated addresses to purchase large volumes of the meme coin $1, prompting thousands of investors to follow suit. This drove the token’s market cap from roughly $500,000 to $14 million in a short period. The $1 token’s price then plummeted, with its trading volume hitting around $20 million in just two hours. After the relevant address was frozen, hackers quickly moved to BNB Chain (BSC), issued new tokens using that address and its associated addresses, created trading hype through wash trading, and eventually dumped the tokens to cash out. Robinhood’s RPC has frozen the address, with nodes refusing to include transactions from it, making transfers and trading impossible.