Linera Launches Babbage Testnet

After Federal Reserve Chair Kevin Warsh indicated that inflation risks are easing, markets are betting the U.S. Federal Reserve will delay further interest rate hikes, pushing up prices of Bitcoin, gold, and silver. Meanwhile, the U.S. dollar has held steady for now; traders expect the greenback to remain strong ahead of the release of the Fed’s FOMC meeting minutes, as they wait for more monetary policy cues. According to HTX market data, as of press time, Bitcoin’s spot price is $63,640.1, up 0.93% in 24 hours; Ethereum’s spot price stands at $1,786.6, with a 24-hour gain of 0.4%. Per Bitget market data, spot gold trades at $4,172.2, a 1.21% increase in the last 24 hours.

CryptoQuant analyst Darkfost noted in a post that Bitcoin’s (BTC) Sharpe Ratio has once again dropped below -20, entering extremely negative territory. While it has recovered slightly recently, historically this level typically aligns with periods of extremely bearish market sentiment. The Sharpe Ratio gauges investment returns relative to volatility and risk; a negative value indicates the current risk assumed outweighs the returns generated. As of press time, Bitcoin has posted three consecutive quarterly losses, with a 16.1% decline in the latest quarter. These extremely bearish phases often persist for weeks or even months, and are frequently accompanied by the formation of a new market bottom, paving the way for a subsequent market rebound. That said, this indicator reflects long-term trends and is not suitable as a short-term trading signal.

Crypto community user ddotaek posted that he has shifted from the Solana-based MEME coin market, which he described as "constantly being rugged", to BNB Chain, noting that the BNB ecosystem "truly supports builders and long-term projects". He cited advantages including no rug pulls, no bot-driven wash trading, and clean launches (he personally verified front-running cases). He also mentioned that project team @TCryptochicks donated 10 million TCC tokens to GiggleAcademy, an educational charity founded by CZ. CZ later liked the tweet, lifting market sentiment, and TCC’s market cap briefly surged past $72 million before retreating to around $54 million. Previously, the "Giggle" token gained CZ’s public like and retweet in September 2025 via a donation to GiggleAcademy, with its market cap once soaring to over $100 million. CZ once stated "this completely changed my view on MEME coins", but later clarified multiple times that the related tokens were not officially issued by GiggleAcademy, and reminded holders to watch for subsequent selling pressure. BlockBeats reminds users: Most MEME coins have no practical use cases and are highly volatile. Please protect your assets and do not FOMO.

According to data from Ultrasound.money, Ethereum's net supply has increased by 83,550 ETH over the past 30 days, bringing its total supply to 121,838,278 ETH, with the current annual supply growth rate standing at 0.835%.

The Kobeissi Letter stated in a post that the AI spending boom is reshaping the U.S. economy. AI capital expenditures by Alphabet, Amazon, Meta, Microsoft, and Oracle are projected to rise to roughly 3.2% of U.S. GDP by 2027. If the forecast holds, annual AI capital spending will for the first time exceed U.S. defense outlays, which are expected to account for around 2.7% of GDP next year. For this year alone, the group’s AI capital spending is forecast to jump from 1.5% of GDP in 2025 to roughly 2.5%, nearly matching the 2.7% share of GDP allocated to defense spending. The five firms’ combined AI capital expenditures are projected to top $800 billion in 2026, then climb to a record $1.1 trillion in 2027. These figures are "staggering".

Due to the U.S. Independence Day holiday (July 3), U.S. stock markets were closed last Friday, paired with the regular weekend closure. "On-chain Nasdaq" Trade.xyz enables continuous trading and real-time price discovery unavailable in traditional finance via perpetual contracts, pricing in advance for Monday’s U.S. and South Korean stock sessions. Top U.S. stock tickers on Trade.xyz showed mixed moves compared to Thursday’s after-hours trading, and are expected to consolidate with minor fluctuations ahead of Monday’s pre-market. Weekend performance details: Micron (MU) is currently at $1038.71, versus $976.63 in U.S. Thursday after-hours trading; SanDisk (SNDK) at $1856.65, versus $1762.011 Thursday after-hours; NVIDIA at $197.83, versus $194.44 Thursday after-hours; Intel at $124.2, versus $121 Thursday after-hours; Google at $360.06, versus $359.91 Thursday after-hours; AMD at $537.34, versus $519.5 Thursday after-hours; SpaceX at $161.27, versus $160.95 Thursday after-hours. For top South Korean stock tickers on Trade.xyz, their weekend performance is as follows: Samsung Electronics is currently at $210.49, versus $202.35 at Friday’s close; SK Hynix is at $1623.16, versus $1585 at Friday’s close.