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According to Gate market data, the South Korean KOSPI index opened down more than 5%, SK Hynix fell over 8%, and Samsung Electronics dropped 6%. The Nikkei 225 index opened down 0.6%.

Wall Street investment bank TD Cowen has lowered the target price for Bitcoin treasury company Nakamoto Inc. (NASDAQ: NAKA), reducing the split-adjusted target price from $40 to $17, a decrease of 58%, but still maintaining a "Buy" rating. TD Cowen analysts stated that this adjustment is mainly due to the pressure on Nakamoto's highly leveraged capital structure from the decline in Bitcoin prices.Although the new target price still implies about a 275% upside from the current stock price of $4.65, the company's stock is highly sensitive to fluctuations in Bitcoin prices. TD Cowen expects Bitcoin to rebound to $100,000 by the end of 2026, which is about 25% lower than the historical high of $126,000 set last October. At the same time, the firm anticipates that Nakamoto will suspend further Bitcoin purchases before 2027.Analysts pointed out that Nakamoto's core value still comes from its Bitcoin assets, with the company currently holding 4,467 BTC, valued at approximately $290 million, ranking 22nd among publicly listed companies in terms of Bitcoin holdings. However, the company's debt and preferred stock financing structure have also compressed the asset value available to common stockholders. Recently, Nakamoto has completed several financial adjustments, including repaying approximately $45 million in debt, extending the principal of $105 million to June 2027, reducing financing costs, and approving a $25 million stock buyback plan. Additionally, the company has closed its previously operated medical clinic business and will focus on Bitcoin media, asset management, and consulting services in the future. Data shows that NAKA's stock price has fallen over 71% this year, while Bitcoin has declined about 26% during the same period. Market attention is shifting from "continuously purchasing BTC" to the asset-liability structure and financing capabilities of Bitcoin treasury companies.

According to market data, the current on-chain total value of the tokenized stock market has approached 2 billion dollars, with over 471,000 on-chain holders. The report selected four assets—NVIDIA, Microsoft, Meta, and Tesla—that have effective two-way order books across various testing platforms for horizontal comparison.The research results show that Bitget rToken achieved optimal execution performance in both the $10,000 and $50,000 order tests, presenting the most balanced order book liquidity within a price range of ±50 basis points. Among them, the slippage for the $50,000 order was 58% lower than that of other tokenized stock products. This is mainly attributed to Bitget rToken's 1:1 alignment with the liquidity of traditional markets such as the NYSE and NASDAQ, providing more efficient execution for large transactions.

According to Gate market data, U.S. stocks opened with the Dow Jones down 0.92%, the S&P 500 index down 1.12%, and the Nasdaq down 1.75%.Tesla (TSLA.O) opened down about 9% after earnings, as quarterly profits fell short of expectations and free cash flow turned negative for the first time in over two years. Alphabet (GOOG.O) fell about 6% after raising its fiscal year capital expenditure forecast and warning that cash flow pressures would continue.

According to Gate market data, U.S. stocks closed lower on Wednesday, with the Dow Jones Industrial Average initially down 0.01%, the S&P 500 index down 0.14%, and the Nasdaq down 0.57%. SpaceX (SPCX.O) fell 6.7%, hitting a new closing low. Nvidia (NVDA.O) rose 2.3%, SK Hynix (SKHY.O) fell 3.8%, Supermicro (SMCI.O) rose nearly 20%, and Dell (DELL.N) rose 9%.The Nasdaq China Golden Dragon Index closed down 1.8%, with NetEase (NTES.O) falling over 6%.

Benchmark has lowered its second-quarter performance expectations for Coinbase ahead of the earnings report next week, citing weak trading activity in the cryptocurrency market, but still maintains a "Buy" rating and a target price of $270. Based on Coinbase's stock price of about $172 on Wednesday, this target price corresponds to an upside potential of approximately 57%.Benchmark analyst Mark Palmer has revised Coinbase's second-quarter revenue expectation from $1.51 billion to $1.38 billion and has lowered the full-year revenue expectation for 2026 from $6.33 billion to $6 billion. The trading volume on centralized exchanges in the second quarter has decreased by about 28%, and the total market capitalization of the cryptocurrency market has dropped by about 13%. The firm expects Coinbase's trading revenue to decline by more than 5%.However, the market showed initial signs of stabilization in June, with spot trading volume exceeding $1 trillion for the first time since March, which may somewhat alleviate the weak performance in the second quarter.Benchmark believes that if the CLARITY Act is ultimately passed, it could become a more significant catalyst for the stock price than quarterly performance, with Coinbase potentially being one of the main beneficiaries of the act. Trump has previously agreed to the relevant ethical provisions, removing a key obstacle to the advancement of the bill.

According to tracking data from the Web3 asset data platform RootData X, in the past 7 days, the Robinhood Chain native CDP protocol Arrow Finance has been the project with the most new followers among X (Twitter) Top personalities. New influential figures following this project include well-known analyst 0xWizard (@0xcryptowizard), SpiderCrypto (@SpiderCrypto0x), and well-known KOL 0xSun (@0xSunNFT).

According to Gate market data, U.S. stocks closed lower on Friday, with the Dow Jones Industrial Average initially down 0.77%, the S&P 500 index down 1.07%, and the Nasdaq down 1.4%. Chip stocks were mixed, with Western Digital up 2.23%, SK Hynix ADR up 1.13%, NVIDIA down 2.21%, Meta Platforms down 2.79%, and SpaceX down 5.43%. Apple closed up 0.14%, briefly surpassing NVIDIA in market capitalization during the session. The Nasdaq Golden Dragon China Index fell 1.82%, with Alibaba down 2%.

According to Jinshi reports, the preliminary value of the one-year inflation rate expectation in the United States for July is 4.2%, lower than the market expectation of 4.5%, and a decrease from the previous value of 4.6%.

According to Gate's market data, on Friday, the three major U.S. stock indexes opened lower, with technology stocks declining across the board. The Philadelphia Semiconductor Index fell more than 20% from its historical closing high, likely confirming entry into a bear market.SK Hynix's ADR fell below the issuance price of $149 for the first time, and SpaceX's stock price dropped 38% from its peak, with a market value evaporating by about $1 trillion. AMD fell over 7%, Intel dropped over 6%, and TSMC declined over 5%. Analysts pointed out that the continued pullback in chip stocks is influenced by a shift in funding styles and a change in market preferences, while Federal Reserve Chairman Waller's dissatisfaction with inflation has increased market expectations for interest rate hikes.

According to Gate market data, U.S. stocks closed on Thursday with the Nasdaq initially down 1.47%, the Dow down 0.2%, and the S&P 500 index down 0.5%. SK Hynix ADR fell 13.6%, SanDisk dropped 12.6%, Micron Technology fell 5.6%, Google dropped over 4%, and NVIDIA fell over 2%.The Nasdaq Golden Dragon China Index closed up 1.8%, with Tencent Music rising 4%.

According to Jinshi, the number of people continuing to claim unemployment benefits in the U.S. for the week ending July 4 was 1.805 million, lower than the market expectation of 1.815 million.The previous value was revised from 1.814 million to 1.821 million.

According to Jinshi reports, TruStage Chief Economist Steve Rick stated in a report that the U.S. PPI data is below market expectations, which is a positive development for the Federal Reserve. He pointed out that this indicates inflation may be gradually approaching the Federal Reserve's target, further reinforcing market expectations that policymakers can maintain interest rates without considering further rate hikes.Although the fight against inflation is not over, the softening price data means the Federal Reserve has taken a step forward in achieving a better balance between price stability and maintaining a healthy labor market.

According to Jinshi, U.S. President Trump stated that he believes inflation at the end of the year will be lower than the current level.

According to Jinshi reports, market pricing shows that bets on the Federal Reserve's interest rate hike this month have been lowered.

According to Jinshi reports, the seasonally unadjusted Consumer Price Index (CPI) for the U.S. in June was 333.952, lower than the market expectation of 334.697 and the previous value of 335.123.

According to Jinshi reports, Russian President Putin stated that based on macroeconomic indicators, the key interest rate should be lowered.

According to The Block, the Benchmark Report released by Borderless.xyz for Q2 2026 shows that the delivery quotes for stablecoin cross-border payments in each month of the second quarter were all below the interbank foreign exchange rate midpoint. Data covering 108 countries and 260 payment corridors indicates that the median "parity spread" for the quarter was -3.2 basis points, further widening to -5.9 basis points in June, marking the deepest negative value of the year.The report also shows that the typical delivery cost for a $10,000 cross-border payment in the second quarter was approximately $27, and it has remained around this level for five consecutive months. If companies only connect to a single service provider in the long term, they will pay an average of about $2,330 more compared to the optimal quote for every $1 million payment scale, known as the "routing tax."Regionally, the African market showed the most significant fluctuations, with the price point spread widening by 166 basis points to 512.8 basis points; Latin America compressed to 89.0 basis points, while Asia remained relatively stable at 6.1 basis points. In specific corridors, Malawi experienced a one-day repricing of 5.8% on April 9, with the typical spread jumping from about 296 basis points to 1975 basis points.

According to Jinshi, Federal Reserve's Williams stated that his level of concern about the risks posed by stablecoins is lower than that of some individuals.

According to Jinshi, the number of initial jobless claims in the United States for the week ending July 4 was 215,000, lower than the market expectation of 218,000, and the previous value was revised from 215,000 to 217,000.