Multicoin Co-founder Kyle Samani Joins Backpack US Board of Directors

According to Lookonchain’s monitoring, the Meme coin JINQIAN on the Robinhood chain hit a $70 million market cap just one hour after its launch. A single trader secured roughly a 10x return via one JINQIAN transaction. The trader spent 8 ETH (approximately $19,000) to buy 6.28 million JINQIAN, then sold all holdings for 82.54 ETH (around $198,000), netting a profit of 74.54 ETH, valued at roughly $178,600.

According to GMGN market data, the Robinhood Chain meme coin JINQIAN briefly dipped to $20.5 million at one point, over 70% down from its peak, and has now rebounded to $42 million. The sharp rally of JINQIAN is likely tied to a tweet posted by crypto KOL Rune (@RuneCrypto_) on September 1. Rune announced he had "acquired a majority stake in a Nasdaq-listed public company. The short interest stands at 92.3%, with liabilities of $6.2 million. I am tokenizing the equity on the Robinhood Chain, then I will pair a meme coin with the tokenized stock." Rune has not claimed any tokens related to this event, and the incident carries regulatory risks. BlockBeats reminds users that relevant tokens are highly volatile, so investors should exercise caution.

Crypto KOL Unipcs purchased approximately 3.8 million JINQIAN tokens at 22:55 on September 2, with a total investment of $98,679 and an average purchase price of $0.0259. The two transactions involved amounts of roughly $49,466 and $49,213 respectively. The position is currently valued at around $244,000, with an unrealized profit of approximately $14, a paper return of 146%, and the position remains open.

As of September 1, the yield on the U.S. 30-year Treasury has exceeded 5% for 56 trading days so far this year, and has stayed above that level for 41 consecutive trading days; its year-to-date average yield has risen to 4.96%, approaching the 5.03% level recorded in 2004.

BitMEX co-founder Arthur Hayes said Bitcoin is now positioned to hit $1 million before 2030, with potential catalysts including possible large-scale monetary easing following an AI bubble burst and the U.S. implementing yield curve control. He believes $58,000 could mark the current cycle’s bottom, with BTC set to rise gradually afterward. However, Hayes’ top crypto pick right now is ETH. He argues ETH offers a better risk-reward ratio than HYPE and could surge 3 to 5 times in value over a relatively short period. His reasoning: Ethereum remains the foundational layer of DeFi, and as a major crypto asset, ETH has yet to break its 2021 all-time high, leaving it relatively underfollowed and undervalued. Hayes added that Hyperliquid is now fully priced in by the market, with investors holding high expectations for the project, so HYPE’s price no longer has the asymmetric upside it once had — though this doesn’t mean it can’t continue rising. He also noted that Trump’s comments have had a limited impact on Bitcoin’s price, advising investors to focus instead on actual actions by Bessent, the U.S. Treasury, the Federal Reserve, and other monetary authorities.

According to GMGN market data, Robinhood Chain meme coin JINQIAN has surpassed $70 million in market capitalization, hitting a fresh all-time high. It is currently trading at $71.1 million, with a trading volume of $40.7 million. BlockBeats reminds users that related tokens are subject to high price volatility, and investors should exercise caution.