US-Iran ceasefire agreement collapses, shipping in the Strait of Hormuz plunges again.

U.S. stocks opened, with the Dow Jones Industrial Average up 0.08%, the S&P 500 rising 0.2%, and the Nasdaq climbing 0.2%. According to market data from BIT (bit.com), Micron Technology jumped over 6% as the company plans to expand its U.S. investment scale to more than $250 billion by 2035. Qualcomm gained 1.9%, while Meta fell 3.4%—the company is set to start production of an AI chip in September. Memory stocks rallied broadly: STX rose 6.77%, WDC climbed 7.02%, and SanDisk advanced 4.93%. CPO concept stocks also saw a sharp rebound, with AAOI up 5.81% and LITE gaining 7.97%. AI equipment manufacturing stocks also performed strongly, with LRCX jumping 10.76% and AMAT rising 9.87%. Among other key heavyweight stocks, Nvidia edged down 0.11%, while SPCX gained 1.47%.

The U.S. Commodity Futures Trading Commission (CFTC) plans to block Chicago Mercantile Exchange (CME)’s application to quickly launch 24/7 oil contracts, amid concerns that energy markets are not ready for an influx of large volumes of all-day derivatives contracts. CME said in June it planned to offer 24/7 trading for a futures contract tied to West Texas Intermediate (WTI) crude oil, denominated in 10-barrel lots, citing investor demand to manage positions “whenever news breaks.” On Wednesday, CME filed a self-certification application for the new product, which means the CFTC has only one day to intervene before the contract can be listed for trading. According to people familiar with the matter, the CFTC plans to block CME’s self-certification. CFTC Chair Michael Selesinger has met with executives from energy firms including Shell, Vitol, BP and ExxonMobil in recent weeks. Another application CME submitted for the same product, which requires a 45-day review period, is still under regulatory consideration.

According to official announcements, Mantle today announced that its native cross-chain infrastructure Mantle Super Portal—developed in partnership with Bybit—has migrated from LayerZero to Chainlink CCIP. Powered by CCIP, Mantle Super Portal will feature enhanced cross-chain security, decentralized node infrastructure security guarantees, advanced risk management, and institutional-grade security standards, delivering a higher level of protection for cross-chain transfers of MNT tokens valued at over $2.5 billion. Additionally, as an increasing number of regulated assets, such as tokenized equities, move on-chain, the underlying infrastructure supporting them must meet traditional financial standards. This migration will further solidify Mantle’s position as a "distribution layer connecting traditional finance and on-chain liquidity" and underscores Mantle and Bybit’s ongoing commitment to growing MNT through further integrations, opportunities, and use cases. According to the announcement, Mantle Super Portal will be temporarily offline during the migration period, scheduled from July 9 to 15, 2026 (with a possible slight extension of the timeline). Users do not need to take any action, and transfers will automatically resume once the migration is complete.

According to on-chain analyst Ai Yi (@ai_9684xtpa)’s monitoring, address 0x3e7…f1589 deposited 5 million USDC at 7:30 PM tonight, then opened a 20x long position in XYZ100 (which tracks the Nasdaq 100 index) worth $16.63 million at an entry price of 29,458. Currently, over $5.3 million worth of TWAP orders are still being filled gradually, with the final position valued at around $22 million.

Market News: SK Hynix has set the issue reference price for its American Depositary Receipts (ADR) at $149 per unit, a 3.1% premium over its closing price in South Korea.

Paxos has announced that PayPal USD (PYUSD) is now officially native-issued on the Polygon blockchain, and is being offered to the market via Polygon’s Open Money Stack. The move aims to provide institutions and enterprises with a federally regulated on-chain USD settlement solution, covering deposit, withdrawal and compliance functions. The Polygon blockchain currently records an average daily stablecoin settlement volume of over $2.5 billion, with a total cumulative settlement volume exceeding $2.6 trillion. PYUSD is issued by Paxos, a national trust chartered institution regulated by the U.S. Office of the Comptroller of the Currency (OCC).