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The bidding event for HyperliquidX's USDH stablecoin reveals a shift in the power structure of the stablecoin market, highlights the conflict of interest between traditional issuers and decentralized protocols, and discusses potential solutions to the problem of liquidity fragmentation. Summary generated by Mars AI. This summary was generated by the Mars AI model, and the accuracy and completeness of the generated content are still in the process of iterative updates.
Pump.fun has attracted attention due to the listing of the PUMP token on Upbit and the surge in popularity of its livestream section. Several projects have rapidly increased their market capitalization through marketing campaigns and celebrity influence. Summary generated by Mars AI. The accuracy and completeness of the summary are still being iteratively improved by the Mars AI model.
A combination of Chinese and Western styles, everyone makes money together.
Investors are generally showing weak interest in Bitcoin Treasury (DAT) strategies, reflecting a saturated market demand and a rational return. Meanwhile, new altcoin DATs continue to emerge, but there is controversy within the industry regarding the prospects of such companies.
This article is an open letter from Bitget CEO Gracy Chen on the occasion of the company's seventh anniversary. Using the metaphor of the "nonexistent seventh gear" in motorcycle racing, she explains Bitget's spirit of pursuing breakthroughs and moving forward at full speed. In the letter, Gracy announces the new concept of the "Universal Exchange (UEX)" and defines it as the future form of exchanges.
When a platform's profits are built on the widespread losses of its participants, such a model is destined to be nothing more than a fleeting speculative frenzy.
- 16:23Galaxy Digital plans to launch a multi-chain tokenized money market fundJinse Finance reported that Galaxy Digital, the digital asset investment firm led by Mike Novogratz, is preparing to launch a tokenized money market fund, which will be rolled out on three major blockchains: Ethereum, Solana, and Stellar, and is expected to launch in the coming months. According to sources familiar with the matter, Anchorage Digital will serve as the fund’s custodian. With this move, Galaxy Digital aims to bring more crypto-native products to the market, complementing tokenized funds launched by traditional financial institutions such as BlackRock’s BUIDL (with a market value of approximately $2.2 billions) and Franklin Templeton’s BENJI. A Galaxy Digital representative declined to comment on the fund. The fund will focus on providing instant liquidity through tokenization technology and will draw on experience from existing products to optimize user participation.
- 16:20Bank of America Survey: GBP Becomes the Most Overvalued Currency in Nearly a DecadeJinse Finance reported that the Bank of America's September Global Fund Manager Survey shows that the British pound is considered the most overvalued currency in the past decade. According to the survey, currently 12% of investors (net proportion) believe that the pound is overvalued, whereas a month ago, a net 3% of investors thought the pound was undervalued, indicating a significant reversal in valuation expectations. This means that the current degree of overvaluation of the pound has reached its peak since December 2015. Data from the London Stock Exchange Group (LSEG) shows that as of this month (the period covered by the survey), the pound-to-dollar exchange rate has risen by about 1%; since the beginning of this year, the pound has appreciated by a total of 9% against the dollar.
- 16:20Analyst: If the Federal Reserve Confirms Multiple Rate Cuts, Gold Prices May Reach New HighsJinse Finance reported that on Tuesday, driven by a weaker US dollar and clear market expectations that the Federal Reserve will implement interest rate cuts, gold prices once soared past $3,700 per ounce, reaching a historic high. Eric Chia, a strategist at brokerage firm Exness, stated: "If the Federal Reserve's policy guidance fails to meet the market's dovish expectations, gold may face short-term selling pressure. However, as long as the Fed confirms multiple rate cuts, it will support the upward trend in gold prices and may push them to new record highs." In addition, continued gold purchases by central banks, inflows into gold ETFs (exchange-traded funds), and escalating geopolitical tensions have increased market demand for safe-haven and inflation-hedging assets, all of which have jointly supported the recent rise in gold prices.