Ethereum OG "0xa2F6" Sells 13,330 $ETH ($36.37M) After 6-Month Hold

DBS Group Chief Investment Officer Hou Wey Fook said that Nvidia’s price-to-earnings (P/E) ratio and projected 70% earnings growth next year indicate that AI-driven tech stocks are still far from forming a bubble. Aggregate data shows Nvidia’s current 12-month forward P/E ratio stands at 17x. Hou compared this to Cisco Systems’ valuation of around 100x before the dot-com bubble burst. He told TV interviews: "If we take Nvidia as the representative company in the AI sector, which currently has a P/E ratio of only in the teens, how can we call this a bubble?" He added that semiconductor and AI investments still have "tailwinds". However, Hou recommended adopting a "barbell strategy" to "control overall portfolio volatility": allocating to tech stocks on the growth end, while pairing with investment-grade fixed-income assets to deliver stable returns, and using hedge funds and gold as intermediate risk-diversification tools.

Hong Kong Secretary for Financial Services and the Treasury Christopher Hui stated that amid the advancement of fintech innovation, the government will submit a draft ordinance amendment this year to establish a licensing regime for virtual asset trading, custody, advisory, and management services. The Hong Kong Financial Services and the Treasury Bureau, in collaboration with the Hong Kong Monetary Authority (HKMA), is also working on optimizing the legal framework to drive the tech and telecommunications sectors to step up detection and removal of fraud-related content, including AI-generated fraud.

Per Lookonchain monitoring, early Ethereum participant "0xa2F6" sold 13,330 ETH after six months of inactivity, worth roughly $36.37 million. This crypto OG bought 170,000 ETH at a low price of $0.31 via Ethereum's ICO, with a total cost of just $52,700. The batch of ETH is now valued at approximately $461.4 million.

According to Bitget market data, the Nikkei 225 index closed up 1637.40 points, or 2.40%, at 69946.86 points on Monday, October 5.

Trader 0x914b lost $471K shorting 14,976 $ETH($40.97M) and then flipped to long. He opened a 25x long on 23,734 $ETH($64.3M), with a liquidation price of $2,650.

Morgan Stanley’s chief equity strategist Mike Wilson said in a recent report that U.S. stock indexes remain near record highs, but internal market divergence is stark. Some 51% of Russell 3000 constituents have fallen more than 20% from their June peaks, while the median S&P 500 stock trades 16% below its 52-week high—market breadth has dropped to its lowest level since the dot-com bubble burst. Meanwhile, a roughly 12% divergence gap exists between index prices and market breadth. Wilson identifies U.S. Treasury volatility as the key factor determining how this gap will close. Currently, the 10-year U.S. Treasury yield has climbed to 5.25%, the MOVE index has topped 100, while the VIX remains below 15. If bond volatility stays elevated, the S&P 500 could pull back roughly 6% to around 7,300 over the next month before rebounding by year-end. If bond volatility eases first, a catch-up rally in individual stocks could drive market breadth to align with the index. The report points out that the deterioration in market breadth began mainly after the late-August Jackson Hole symposium, fueled by investors pricing in a more hawkish Federal Reserve policy path rather than rising oil prices. Wilson notes the current weakness is driven primarily by valuation compression, not a collapse in corporate earnings. He advises sticking to large-cap quality stocks with consistently improving earnings revisions at this stage—specifically light-asset companies with high free cash flow yields, low accruals, and high per-employee sales. If the index completes its pullback, there could be opportunities to add higher-risk stocks over the next month.