Huobi HTX Updates September Merkle Tree Reserve Proof: Reserve Ratios of Mainstream Assets Remain Consistently Above 100%

According to Lookonchain monitoring, trader 0xbebb spent 4,400 USDC to buy 18.6 million 4Stock tokens in just two hours. The current value of their holdings is approximately $780,000, delivering a 177x return, making them the largest holder of the token.

According to GMGN data, 4Stock’s market capitalization briefly surged past $47 million before plummeting roughly 48% in a short period, hitting a low of $24.88 million. Its current market cap stands at $35 million, with a 3-hour trading volume of $33.9 million. 4Stock is a "stock-themed meme" narrative launched by Four.meme: it first rolls out underlying 4Stock assets pegged to stock holdings, then enables the community to issue meme coins using these assets as a liquidity base. BNC4 is the first 4Stock, with a 1:1 peg to its corresponding stock asset.

According to TradingBeats' monitoring, ZHIPU is currently trading at $118.12, down roughly 12.8% over the past 24 hours. The whale address starting with 0xddb8 still holds 18,320.38 ZHIPU long positions, with a position value of about $2.164 million, an average entry price of $161.34, an unrealized loss of approximately $791,900, and a position return on equity (ROE) of -267.9% per platform data. Beyond the unrealized price loss, the position has cumulatively paid around $75,700 in funding fees since opening, bringing the total drag to roughly $867,600. On the news front, Jefferies yesterday cut Zhipu’s price target from HK$1,299.8 to HK$1,183.79 (an ~8.9% reduction) while maintaining a "Hold" rating. Converted at an exchange rate of ~HK$7.84 to US$1, the new target equals roughly $151, still below the whale’s $161.34 entry cost. Jefferies’ key concerns include the sustainability of revenue growth, customer concentration, and gross margin pressure in H2, and it lowered the valuation multiple for Zhipu’s cloud business from 50x its projected 2026 annual recurring revenue (ARR) to 30x. ZHIPU’s current market open interest (OI) stands at ~87,800 contracts, worth around $10.369 million at current prices, with the whale’s single long position accounting for ~20.9% of total OI. On-chain Perpetual (Perp) and address analysis tool TradingBeats is now live, supporting real-time Hyperliquid data viewing, enabling traceability from addresses to whale operations for comprehensive in-depth analysis.

According to official announcements, South Korean digital asset custodian BDACS has selected LayerZero’s OFT (Omnichain Fungible Token) standard as the cross-chain interoperability solution for its South Korean won stablecoin KRW1. KRW1 is South Korea’s first won-backed stablecoin, currently deployed on Ethereum, Avalanche, and Circle’s Arc network. With the OFT integration, KRW1 will achieve further native multi-chain expansion. LayerZero noted that the OFT standard currently covers over 170 blockchains, handles approximately 87% of cross-chain transfer volume, and has a cumulative transfer value of $280 billion. Adopting this standard, KRW1 will be burned or deducted on the source chain and minted on the destination chain during cross-chain transfers, maintaining a unified supply to prevent fragmented KRW1 liquidity across different chains. LayerZero’s cross-chain transfer application Stargate will execute these transfers. BDACS said the move will provide a technical foundation for KRW1 to expand beyond South Korea. In July 2026, South Korea released the "Won Internationalization Roadmap," which proposes amending the Foreign Exchange Transactions Act to establish a legal framework for won-denominated stablecoins, plus advancing measures like offshore won accounts and a 24-hour offshore won settlement network. BDACS added that KRW1 is currently fully backed by a 1:1 reserve of won held at Woori Bank and undergoes independent reserve attestation.

According to GMGN data, 4Stock’s market cap briefly topped $39 million, hitting a new all-time high, and currently stands at $33.31 million. It generated $27.4 million in trading volume within its first three hours of launch. Developed by Four.meme, 4Stock is a "stock meme" concept: it first launches underlying assets tied to real stocks, then allows the community to issue meme coins using these assets as a liquidity pool. BNC4 is the first 4Stock, pegged to its corresponding stock at a 1:1 ratio.

According to GMGN data, likely due to the rally of newly emerged tokens 4Stock and BNC4, meme token Niu Lai has dropped 10% and Marscoin has fallen 14.5% over the past two and a half hours. It is reported that 4Stock is a "stock-themed meme" narrative launched by Four.meme: the project first rolls out underlying assets of 4Stock pegged to stock assets, then allows the community to issue meme tokens using these assets as the base pool. BNC4 is the first 4Stock token, pegged to its corresponding stock asset at a 1:1 ratio.