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UBS: Gold prices expected to rebound by the end of 2026

60 minutes ago

UBS Gold Strategist Joni Teves remains optimistic about gold's medium- and long-term outlook. She noted that gold prices have continued to rise since the start of this week, with gold stocks in mainland China and Hong Kong surging around 20% cumulatively over three days, a positive signal. "We believe market confidence in gold is starting to improve, and we continue to expect gold prices to rebound from current levels by the end of the year," she said. The UBS global team remains upbeat on gold's medium-term outlook, forecasting gold prices will reach $4,675 per ounce by the end of 2026 and $4,800 per ounce by the end of 2027. Key events to watch next include the Federal Reserve's policy stance at its July FOMC meeting and further developments in the Middle East. (Jin10)

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The Drift protocol hacker began transferring ETH to Tornado Cash after 3 months of inactivity.

According to monitoring by Onchain Len, after being dormant for roughly 3 months, the attacker behind the Drift Protocol exploit has begun moving funds via Tornado Cash. The attacker is depositing funds into the Tornado Cash Router in batches of 100 ETH each, initiating multiple transfers almost every minute.

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STMicroelectronics' European shares widened their intraday decline to 17%.

According to Bitget's market data, STMicroelectronics' European-listed shares saw their intraday decline widen to 17% after the company's earlier earnings outlook missed expectations.

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US crude oil crosses the $90 mark.

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WTI crude oil's intraday gains expanded to 3%

According to Bitget's market data, WTI crude oil's intraday gain has expanded to 3%, currently trading at $89.52 per barrel. Brent crude oil is now up 2.5%.

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Going long on Starship launch and SPCX: A trader holds over 1.27 million long positions, anticipating successful ignition.

According to Hyperinsight monitoring, SpaceX’s Starship Flight 13 aborted automatically about 1 second before lifting off after ignition on the morning of July 17, due to failure of some engines to start normally. When the abort news broke, SPCX on Hyperliquid plunged 9.7% in 5 minutes, hitting a low of $119.4. After replacing two engines, SpaceX now plans to attempt another launch between 6:45 AM and 8:15 AM Beijing time on July 24 (tomorrow). Ahead of the new launch window, an address starting with 0xf64d went long 10,900 SPCX contracts this morning at an average price of $116.1, totaling $1.272 million, making it the largest single position today. This is the address’s largest single position since it began focusing on SPCX trading in June, 2.7 times its previous largest holding, likely betting on a successful Starship launch. As of press time, SPCX trades at $116.5. The address holds all long positions with 8x leverage, with an unrealized profit of ~$3,907 (+2.46%); its liquidation price is ~$104.3, about 10.5% below the current price. Trading records show that since the address first traded US equity-linked contracts on June 16, all its contract trades have been concentrated in SPCX. It has completed 5 prior SPCX trades, all around news events, with a total of 2 wins and 3 losses, realizing a cumulative loss of ~$55,100. On the news front, Flight 13 is set to deploy 20 Starlink V3 satellites for the first time. Meanwhile, SpaceX will release its first post-IPO quarterly results after market close on August 4, with the first batch of early shares entering a phased lock-up period shortly after. Barring unexpected news, this upcoming launch will likely be the last Starship mission before the earnings and lock-up window, and one of the most clear, standalone events that could impact SPCX prices. Related reading: After T-0 ignition failure, SpaceX’s "smart money" bets on Starship’s 13th test flight

3 minutes ago

Pons Unveils V2 Upgrade Plan: To Introduce UniV4, Support RWA Pairing, and Comprehensively Optimize Token Issuance Mechanism.

According to official announcements, Pons has unveiled its Pons V2 upgrade, designed to enhance token issuance and trading experiences on Robinhood Chain. The team noted that since the protocol’s launch, it has faced multiple attacks, but with support from infrastructure partners, the platform has returned to stability. The Pons V2 contract has not yet been deployed; it is currently undergoing audits by two firms and is projected to launch next week. This upgrade brings comprehensive optimizations focused on liquidity, developer incentives, and asset types. Pons V2 will use an ETH-denominated Bonding Curve mechanism, removing trading restrictions for regular users while implementing configurable position limits exclusively for developer wallets to improve trading fluidity. Additionally, the new version will support UniV4 Hooks, enabling creators and the protocol to default to receiving fees in ETH, avoiding receipt of meme tokens and associated sell pressure; users will also have the option to earn yields in USDG or other real-world asset (RWA) tokens. Pons will also support deployment of any trading pair, allowing creators to issue tokens paired with assets like USDG, NVDA, AAPL, and HOOD directly, providing infrastructure support for the RWA and "memestock" ecosystems on Robinhood Chain. Regarding token lifecycle, V2 tokens will initially operate on the Bonding Curve; once fundraising reaches 4.2 ETH, they will automatically "graduate" and migrate to Uniswap V4 liquidity pools, with associated liquidity positions permanently locked to prevent liquidity withdrawal. Furthermore, Pons V2 will restore its previously paused CTO function, introduce a 3-day timelock mechanism, and plans to launch an optional reflection token feature—via an optional tax on buy/sell transactions—to provide revenue distribution and holding incentives for ecosystem partners. The team added that the above features may still be adjusted based on audit outcomes.

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