Insiders: Some stablecoin concept stocks have been overheated in short-term speculation, and attention should be paid to the risk of a pullback

ChainCatcher news, according to the Securities Times, in recent days, the stock prices of several listed companies in the Hong Kong stock market have surged due to their involvement in the "stablecoin concept." On July 10, during trading, the stock of Puxing Energy soared over 280%. The company had earlier announced that it had subscribed to Series A preferred shares issued by HashKey Holdings, which focuses on investing in blockchain technology, global asset management of digital assets, and providing compliant over-the-counter trading services for digital assets. Another Hong Kong stock that experienced unusual activity was Derin Holdings, which saw its stock price rise over 70% in the morning session. The reason for the stock price increase is also related to digital currencies.

Derin Holdings announced after the market yesterday that it plans to tokenize assets with a total value of up to 500 million Hong Kong dollars. However, industry insiders have warned that some stablecoin concept stocks have been overheated in short-term speculation, and caution should be taken regarding the risk of a pullback.