South Korea's stock index opened 5% lower, with SK Hynix falling more than 8%.

Many whales have been accumulating $ETH recently. Another newly created wallet (0x49D9) withdrew 2,101 $ETH($3.95M) from #Binance 4 hours ago.

At the opening of the A-share market, the Shanghai Composite Index fell 0.91%, the Shenzhen Component Index dropped 2.25%, and the ChiNext Index declined 3.12%; C Changxin opened down 7.7%.

It seems that Tom Lee(@fundstrat)'s #Bitmine bought another 7,500 $ETH ($14.61M) from #BitGo 5 hours ago.

Driven by concerns over NVIDIA's major AI supply deal and intensifying market competition, investor sentiment soured, leading to sharp declines in Japanese and South Korean stock markets. The Nikkei 225 index fell as much as 4% at one point, hitting its lowest level since May 22; the Topix index saw a maximum drop of 2.7%. South Korea's KOSPI index plunged 7.6% at one point, marking its lowest since April 20. Semiconductor and equipment stocks including Tokyo Electron, Kioxia, Samsung Electronics, and SK Hynix led the declines, all falling by over 9%. Among them, SK Hynix's stock price plummeted 30% at one point, hitting its largest single-day drop in history; Kioxia's price fell 18% at one point, marking its biggest decline since November last year. Amid an AI-related trading wave worth over $750 billion, NVIDIA's credit default insurance costs surged, dragging tech stocks lower. Hideyuki Ishiguro, chief strategist at Nomura Asset Management, said that following reports of NVIDIA's major investment deal, its credit risk has risen, which investors view as a bearish signal. In addition, Ishiguro noted that China's advances in semiconductor manufacturing equipment pose a threat to Japanese suppliers, a sector where Japan has long held a competitive edge. (Jinshi)

According to data from Bitget, a South Korean crypto exchange triggered its circuit breaker mechanism after the KOSPI index fell by 8%, suspending trading for 20 minutes.

According to market data from BIT (bit.com), SK Hynix American Depositary Receipts (ADRs) once plunged 10% intraday to $139.01, far below their IPO price of $149, and closed at $143.02, marking a new low since listing. Alongside stocks such as SpaceX, SK Hynix is among the first companies to trade below their IPO price from this year’s largest U.S. IPOs. SK Hynix ADRs debuted on the U.S. stock market earlier this month with a $265 billion fundraising, but its share price has tumbled sharply as investors continue to exit the overvalued semiconductor sector. The semiconductor sector is under broad pressure, and the closely watched semiconductor index extended its recent decline, closing at its lowest level since May 19.