China's A-share STAR 50 Index rose 4.78%, with memory chip and precious metals concept stocks rallying.

CryptoRank released a report analyzing 1,539 tokens that once ranked in the top 100 of the cryptocurrency market by capitalization, finding that 71.9% of them have been classified as "operationally dead". The study defines a "dead" token as one that has been delisted from major trading platforms and recorded daily trading volumes below $10,000 for over 90 consecutive days. Data indicates that roughly 62% of top 100 tokens become inactive within five years, with their mortality rate projected to hit 84.7% after a decade, while the median lifespan of such tokens is just 2 years and 4 months.

CryptoQuant analyst Moreno noted in a post that USDT liquidity is experiencing one of the most severe contraction phases in its history. The 60-day change in USDT’s market capitalization has fallen by approximately $40 billion, approaching its most negative level on record. Meanwhile, the liquidity contraction is accelerating: USDT supply has shrunk by around $870 million over the past 11 days, signaling this is not merely a lagged effect from prior redemptions. Stablecoins serve as the crypto market’s most direct source of available liquidity. Sustained USDT expansion typically coincides with stronger Bitcoin (BTC) price performance, while prolonged contraction phases often align with weak demand, market pullbacks, and declining risk appetite. That said, the correlation between USDT flows and BTC prices does not confirm a direct causal relationship—both may be jointly driven by risk aversion, with redemption pressure and spot sell-offs occurring simultaneously. The current BTC decline is not an isolated event; it is unfolding against the backdrop of shrinking liquidity from one of the crypto market’s primary sources, which also explains why recent market rebounds have failed to sustain. To improve the market environment, we need to see USDT’s 60-day market cap change stabilize, a slowdown in daily supply contraction, and a return to an expansion phase.

According to South Korean media reports, Solidigm, a subsidiary of SK Hynix, is preparing for a pre-IPO funding round ahead of a potential Nasdaq listing. The company targets a valuation of 50 trillion won in this round. Headquartered in the U.S., Solidigm was established in 2021 to house Intel’s NAND flash and SSD business, which SK Hynix agreed to acquire for approximately 10 trillion won in 2020.

Bernstein raises AMD (AMD.O) price target from $600 to $650. (Jinshi)

Western Union has announced a partnership with Rain to launch Stablecard, a product integrating a digital wallet and a Visa-backed credit card, enabling users to hold, transfer, and spend the USDPT stablecoin. USDPT is issued on the Solana network by Anchorage Digital Bank, pegged 1:1 to the U.S. dollar and fully backed by reserve assets. Stablecard’s initial rollout covers 37 markets, where users can directly receive Western Union transfers to their USDPT wallets, make purchases at Visa-accepting merchants and ATMs, and add the card to Apple Pay and Google Pay. Western Union plans to expand the service to over 60 markets by the end of this year.

According to monitoring by TradingBeats (formerly Hyperinsight), Polymarket trader "TruongMyLan" invested $53.35 at midday today, buying the "Yes" outcome for "Will SNDK’s current quarter earnings beat expectations?" at an average price of 94 cents. At the time, the market had nearly reached a consensus on this: the "Yes" odds had held at around 95% for the hour before the trade, and did not change significantly after the transaction. On-chain control relationships show that "TruongMyLan" maps to a Hyperliquid address starting with 0x1c4. Approximately 4 hours and 11 minutes ahead of the forecasted bet, the trader executed 18 consecutive buy orders, building a long SNDK position of 122.5 contracts at an average price of $1,428.7, with a total transaction volume of around $175,100. As of press time, this address holds a 10x fully leveraged long SNDK position worth approximately $177,600, with margin used of around $17,800—accounting for 46.5% of the account’s equity. The position has an unrealized profit of roughly $2,560, a return of ~14.6%, and a liquidation price of $1,079.6. After opening the position, the trader immediately set a full-position stop-loss at $1,286.4. In the afternoon, they placed 100 sell orders in the $1,559–$1,653 range, planning to sell 121.4 contracts—almost the entire position—with no additional buy orders placed below this range. Over the past 30 days, this trader has completed 4 SNDK trades, notching 3 wins and 1 loss, for a cumulative profit of approximately $26,600. Polymarket has a total of 61 earnings-related predictions in its history. - HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permission) to automatically sync on-chain information.