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Citrini Analyst: The progress of China's DUV is not surprising, the sell-off of semiconductor equipment stocks like ASML is excessive

Citrini analyst Jukan posted on social media that the news of China's progress in DUV lithography technology is not particularly surprising, as the market had already formed certain expectations. He pointed out that The Information's related report only cited a professor from a transportation university in China speaking at an internal meeting in June and did not disclose more substantial information. Jukan believes that the sell-off reaction seen in semiconductor equipment stocks like ASML is an overreaction to this news.According to previous reports, The Information cited sources saying that a state-owned enterprise supported by Chinese state capital has begun mass production of domestically developed DUV (Deep Ultraviolet) lithography manufacturing equipment, marking a key progress in the localization of China's semiconductor industry.Insiders stated that the enterprise plans to produce about 5 domestically made DUV lithography machines by 2026 and expand to about 20 machines by 2027. Although there is still a gap compared to the 131 immersion DUV lithography systems delivered by Dutch lithography giant ASML last year, the entry of domestic equipment into mass production is seen by the market as an important breakthrough in the localization of China's chip supply chain.

Academy of Social Sciences Expert: Changxin Technology's overseas on-chain transactions may weaken the domestic capital market's dominance in pricing technology assets

According to Caixin, Zhao Yao, a special researcher at the Payment and Clearing Research Center of the Financial Research Institute of the Chinese Academy of Social Sciences, stated that recent offshore digital asset platforms have launched on-chain trading products around Chinese technology companies such as Changxin Technology. This indicates that global digital financial platforms are creating trading exposure around high-quality Chinese technology assets, organizing price expectations, trading liquidity, and cross-border capital entry in advance. Although these products do not correspond to A-share equity, they are synthetic perpetual contracts or pre-market perpetual contracts settled in stablecoins such as USDC and USDT. However, if offshore platforms take the lead in forming a continuous trading market for technology assets, it may weaken the pricing dominance of domestic capital markets over technology assets.Zhao Yao suggested accelerating the construction of digital financial infrastructure for the renminbi, promoting the coordinated development of tokenized deposits by commercial banks, wholesale CBDC, and tokenization of technology assets, and exploring pilot projects for technology asset tokenization in Hong Kong to enhance the capital organization capability and international pricing power of the renminbi in global technology financial competition.

Gate announces Lucas Sum as Head of Market Development, Equities, to accelerate the development of global equity business

Gate today announced that Lucas Sum has officially joined Gate as Head of Market Development, Equities. In this key position, Lucas will be responsible for driving Gate's global equity business market development strategy, coordinating business growth, ecosystem collaboration, market expansion, and user growth, strengthening Gate's business layout between traditional finance, digital assets, and the global capital markets, and promoting the sustainable development of a multi-asset investment ecosystem.Lucas has nearly ten years of industry experience, with a career spanning multi-asset brokerage, wealth management, payment fintech, and financial services. Before joining Gate, he was deeply involved in the market construction and business scaling development of Longbridge Securities and Moomoo Singapore (Futu Holdings) from 0 to 1, accumulating rich business development and collaboration experience in areas such as ecosystem collaboration, business model building, market strategy formulation, and user growth.Lucas stated, "I am very pleased to join Gate. Against the backdrop of the increasing integration of traditional finance and digital assets, the global investment market is ushering in new development opportunities. As global investors' demand for stock investment and diversified asset allocation continues to rise, I believe Gate will continue to improve its global equity business layout, creating a more open and convenient one-stop global investment experience. I look forward to working with partners and various parties in the financial ecosystem to further expand investment opportunities in the global capital market, continuously promote the development of Gate's equity business, and create long-term value for global investors."Lucas's addition will further enhance Gate's global equity business development strategy, strengthen the partner ecosystem, accelerate market expansion processes, and assist the platform in building a one-stop multi-asset investment platform for global investors, providing richer and more diverse asset allocation options.

Analysis: Bitcoin's rebound faces fourfold pressure, as rising U.S. Treasury yields intensify market risks

CryptoQuant analyst Axel Adler released a weekly analysis indicating that the yield on the U.S. 10-year Treasury bond has recently risen to about 4.7%, approaching the upper limit of the range over the past five years. The high interest rate environment is tightening financial conditions, increasing financing costs and asset discount rates, and putting more pressure on risk assets. Currently, the futures market expects a roughly 38% probability of the Federal Reserve raising interest rates at its next meeting, but a survey of 104 economists by Reuters generally expects rates to remain unchanged.In terms of the Bitcoin market, Axel Adler pointed out that BTC rebounded about 11% from a low of around $59,000 in June to nearly $66,000, but has now fallen back to about $64,300. The market is currently facing four potential risks: first, volatility has significantly compressed, with actual volatility in July dropping 31%, falling to the 8th percentile of the historical range, suggesting that more extreme market movements may occur; second, demand in the U.S. spot market remains weak, trading at a discount for about two and a half months, with no sustained inflow of funds; third, there is insufficient buying liquidity in the market, with stablecoins continuously flowing out of exchanges and new fund activity nearing annual lows; fourth, investors are still realizing losses, and some positions are choosing to exit during the profit recovery phase, putting pressure on prices.Additionally, Adler mentioned that MicroStrategy founder Michael Saylor has not continued to make large-scale Bitcoin purchases recently, but instead published a lengthy article recommending 38 books on civilization, currency, energy, and technological development, attempting to construct a theoretical framework for Bitcoin as a result of long-term financial evolution. Adler believes that the market is currently still in a critical observation phase, requiring attention to changes in liquidity, the recovery of U.S. demand, and whether investor behavior improves.

BitMart announces an orderly cessation of operations, closing all trading services starting August 26

According to the official announcement, BitMart has announced that after assessing its operational status, market environment, and future strategic direction, the platform has decided to orderly cease trading operations. Starting from July 26 at 01:30 (UTC), BitMart will gradually stop new user registrations and cryptocurrency, fiat currency deposits. The contract accounts will enter a mode of only reducing positions, spot trading will stop accepting new orders, and automated services such as copy trading, grid trading, and API trading will also gradually shut down.Starting from August 26 at 01:00 (UTC), BitMart will stop all spot, contract, and other trading services. Any contract positions that have not been closed by then may be processed according to the marked price, index price, or applicable settlement rules. Financial management, staking, lending, and Launchpad products will be terminated in phases, with specific redemption and settlement arrangements to be notified separately.The platform plans to officially cease trading platform operations on January 31, 2027, at 15:59 (UTC). After the shutdown, users will still be able to log into their accounts, view their history, and submit withdrawal requests within a specified period. BitMart advises users to complete identity verification and close all positions before August 26 at 01:00, and to submit withdrawal requests before 05:00 on the same day.Withdrawal services are still available, but some requests may be subject to manual review due to KYC, device and account security, source of funds, withdrawal address, Travel Rule, sanctions screening, and other requirements. BitMart reminds users to download and save their account balances, deposit and withdrawal records, and transaction history in advance, while also being vigilant against scams impersonating platform personnel who charge "expedited fees," "unfreezing fees," or request passwords, verification codes, private keys, and mnemonic phrases.
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