According to Odaily's OKX market data, ETH has broken through 3500 USDT, currently trading at 3500.7 USDT, a 24-hour increase of 0.47%. (This newsletter was generated with AI assistance.)

According to the monitoring of on-chain analyst Yu Jin, the "insider whale" continued to roll his positions an hour and a half ago, and the current short position is worth $300 million. This operation seems to be similar to that of another whale AguilaTrades: constantly rolling positions with floating profits, using extremely high leverage without leaving any room for error, and once the direction is wrong, it will result in huge losses. He currently shorted four tokens: BTC, ETH, XRP, and SOL, and currently has a floating profit of $7 million.

According to Odaily Planet Daily, Whale "set 10 major goals first" and published a screenshot of his Bitcoin long position on the X platform, which showed a floating profit of $1,311,442.74 on a 5x leveraged Bitcoin long position. It is reported that he entered the long BTC at an average price of $112,992.84. The total holdings currently stand at 1930.979 coins, with a margin of nearly $43.9 million.

Odaily Planet Daily reports that sources close to Hong Kong stablecoin license applicants told Caixin that the Hong Kong stablecoin craze will subside as regulatory details are finalized. This is especially true for non-financial institutions whose primary application scenarios are cross-border payments, who may voluntarily abandon early participation due to difficulties in meeting regulatory requirements to "verify the identity of every coin holder." This also means that early-stage internet platforms such as JD.com and Ant Financial may have a hard time appearing on the initial list of licenses. Furthermore, CITIC Group, through its Hong Kong subsidiary CNCBI, has partnered with several institutions to apply for the first batch of stablecoin licenses. Industry insiders note that Bank of China (Hong Kong), one of Hong Kong's three major note-issuing banks, has inherent advantages in issuing a stablecoin, which would also reassure regulators in both places. (Caixin.com)

According to Odaily Planet Daily, Michael Saylor, Executive Chairman of Strategy (formerly MicroStrategy), posted on the X platform: "In the short term, Bitcoin is a trading asset. But in the long term, it will be a treasury asset." Bitcoin is a group of cyberbumblebees serving the goddess of wisdom, feeding on the fire of truth and growing exponentially behind a wall of cryptographic energy, becoming smarter, faster, and more powerful.

According to Odaily Planet Daily, Tomas Lee, Chairman of Bitcoin Treasury Company BMNR, stated in a post on the X platform that Ethereum has outperformed the overall crypto industry since early April. With stablecoins experiencing a "chatGPT moment," Wall Street has flocked to ETH. In the short term, the ETH/BTC exchange rate should at least return to its level of a year ago. The undstrat Capital digital asset team estimates that the fair price of ETH could be around $10,000 to $20,000 within the next 12 months. In the long term, as Wall Street tokenizes real-world assets, it will also begin exploring staking ETH. (Note: Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.)