1. Market Observation
Keywords: US Stocks, ETH, BTC
US stocks rose across the board on Tuesday, with tech stocks performing particularly well. The Dow Jones Industrial Average rose for the fourth consecutive trading day, with Nvidia's market value once again surpassing Microsoft and reclaiming the title of the world's highest-valued listed company, with a current market value of $3.45 trillion. Hong Kong stocks saw continued breakthroughs in stablecoin concept stocks, with Lianyi Technology surging 16%, China Everbright Holdings rising over 14%, and Lianlian Digital rising over 5%. China Everbright Holdings' significant stock price increase primarily benefited from its early investment in Circle, a stablecoin issuer, alongside IDG Capital in 2016, becoming a global strategic shareholder. Circle's recent US IPO application served as a catalyst. Meanwhile, ING economist Knightley predicted that the Federal Reserve might delay interest rate cuts until December, potentially opting for a substantial 50 basis point reduction. He believes tariffs' impact on inflation will be one-time and will not continuously affect the economy. Additionally, the OECD significantly lowered the US economic growth forecast to 1.6% and warned that Trump's trade policies are hampering global economic development. Investors are closely monitoring the May employment report to be released this Friday to assess economic conditions. In this context, HashKey's chief analyst Jeffrey Ding stated that 2025 will be a critical node for generative AI to transition from technological breakthrough to widespread application. Currently, AI is primarily used in traditional asset management and quantitative trading in the financial sector, but it is expected to better adapt to the digital asset market through optimizing market-making strategies. Moreover, building AI-enabled Web3 infrastructure, such as intelligent contract security audits and digital content asset tokenization, will promote collaborative development between AI and the Web3 ecosystem.
Bitcoin market volatility has intensified, showing a short-term oscillating upward trend. Politically, Poland and South Korea have elected crypto-friendly presidents—Karol Nawrocki and Lee Jae-myung. Despite mostly positive market news, Bitcoin prices have not shown significant increases. Standard Chartered Bank's digital asset research head Geoff Kendrick warned that 61 listed companies currently hold 673,800 Bitcoins, representing 3.2% of total supply. If Bitcoin prices drop more than 22% below these companies' average purchase price, it could trigger forced selling. Referencing the 2022 Core Scientific case of selling 7,202 Bitcoins when prices fell below cost, if Bitcoin drops below $90,000, approximately half of the corporate holdings might face loss risks. This indicates that while corporate holdings have pushed up buying pressure, they have also planted potential selling risks.
Ethereum performance remains relatively stable, oscillating around $2,600 for 25 consecutive days. The US Ethereum ETF has been accumulating for 12 consecutive days, with BlackRock owning approximately $4 billion in ETH through the ETF. Analysis suggests Ethereum may be approaching a critical turning point, facing choices between upward and downward movements. On-chain data indicates a potential whale or institution purchasing 108,278 Ethereum (approximately $283 million) via OTC. Galaxy Digital's OTC wallet withdrew 89,000 ETH (approximately $234 million) from exchanges in the past 12 hours and subsequently transferred a total of 108,278 ETH to address 0x0b26. Analyst Rekt Capital noted that Ethereum is attempting to establish $2,500 as a support level and consolidate its position as the low point in the $2,500-$4,000 macro range. The current trend is similar to the green circle-marked location in mid-2021, and if successful, Ethereum may enter a new range of oscillation.
10x Research pointed out that while Bitcoin continues to refresh historical highs and attract institutional funds, the Altcoin market remains stagnant, with continuous token unlocks and lack of new narratives hindering development. Solana token has recently performed poorly, oscillating around $150. Its meme coin platform Pump.fun plans to raise $1 billion through token sales, valuing the platform at $4 billion. Although the official has not confirmed the specific launch time, the platform's social accounts hint at a potential launch within two weeks, which might cause capital outflow pressure in the entire Solana ecosystem. Notably, there was news early this morning that Trump would launch a branded crypto wallet and trading application, encouraging supporters to buy meme coins, causing Magic Eden's ME token to briefly rise 40%. However, the Trump family subsequently denied any association with the project, causing the ME token to retract nearly 20% from its peak.
2. Key Data (as of June 4, 12:00 HKT)
(Data sources: Coinglass, Upbit, Coingecko, SoSoValue, Tomars, GMGN)
[The rest of the translation follows the same professional and accurate approach, maintaining the specific translations for technical terms as specified in the initial instructions.]Today's Top 500 Market Cap Gainers: 0x0.ai (0x0) up 67.69%, Acet (ACT) up 28.59%, Alchemist AI (ALCH) up 23.39%, Magic Eden (ME) up 22.03%, Animecoin (ANIME) up 21.70%.
5. Hot News
Ethereum Spot ETF Net Inflow Reached $109 Million Yesterday, Consecutive 12th Day of Net Inflow
Suspected Institution Purchases Over 100,000 ETH via OTC, Now Holding Nearly 140,000 ETH
MELANIA Project Transfers 15 Million Tokens, Sending 20 Million to Wintermute Address
Tether Transfers Over 37,000 BTC to Twenty One Capital, Worth Nearly $4 Billion
Morph CEO Cecilia Hsueh Steps Down, Former Binance Executive Colin Goltra Takes Over
Strategy Plans to Issue 2.5 Million "Stride" Preferred Shares to Increase Bitcoin Holdings
Insider: Pump.fun Plans to Raise $1 Billion Through Token Sale, Valued at $4 Billion
This article is supported by HashKey, HashKey is the largest licensed virtual asset exchange in Hong Kong and the most trusted crypto asset fiat gateway in Asia. Committed to defining new benchmarks for virtual asset exchanges in compliance, fund safety, and platform protection.
