Bank of America analysts: Defensive sectors could shine if the AI boom fades.

Someone created a new wallet, 0x2A32, and opened a 2x long on 3.46M $SYN($1.69M) on @Aster_DEX. In less than 2 days, the position is already up ~$662K.

According to Lookonchain's monitoring, a newly created address has opened a 2x long position on 3.46 million SYN tokens (valued at $1.69 million) on the Aster platform. In less than two days, this position has gained approximately $662,000.

U.S. 10-year Treasury yield falls below 4.40%, hitting a seven-week low. Earlier released inflation data came in lower than expected, easing market expectations of multiple Federal Reserve interest rate hikes. Lower oil prices also help alleviate inflation concerns. However, strong consumer spending and resilient economic growth continue to underpin expectations of at least one Fed rate hike this year.

Citi analyst Asiya Merchant raised SanDisk’s price target from $2,025 to $2,500, while retaining a buy rating on the stock. Micron’s financial results indicate the NAND market will stay tight through 2027, analysts told investors in a research note. Citi attributes the upward adjustment of SanDisk’s price target to sustained strong demand and favorable pricing dynamics.

Spark and Uniswap have jointly launched the stablecoin swap system "FX Layer". According to reports, FX Layer is designed to create a shared pool for issuers to access, enabling institutions to trade between dollar-pegged tokens while minimizing slippage. Spark announced it will migrate $150 million from its USDS ecosystem to Uniswap v4 to establish a "liquidity foundation" for the swap pool supporting USDS, Tether’s USDT, and PayPal’s PYUSD. FX Layer operates as shared liquidity and trading infrastructure on Uniswap v4, allowing multiple stablecoin issuers—including banks, fintech firms, and payment companies—to access a common system, rather than each separately building and launching their own liquidity pools, market makers, and inventory management setups. Spark serves as the orchestration layer, responsible for allocating, managing, and coordinating liquidity across different stablecoins, while Uniswap provides the programmable Automated Market Maker (AMM) architecture.

U.S. inflation rose to 4.1% in May, hitting its highest level in over three years, while consumer spending grew by 0.3%, signaling resilient demand. Meanwhile, first-quarter GDP was revised up to 2.1%. Analysts noted that these stronger figures are likely to reinforce market expectations that the Federal Reserve will raise interest rates later this year.