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On June 20, SemiAnalysis, an independent research institution focused on semiconductors and AI, published a statement indicating that investors are increasingly viewing AI networks as a binary choice between copper and optical communication, continuously assessing the rotation between the two themes. However, it believes that as the scale of GPU clusters expands, the importance of efficiently connecting these clusters will only continue to rise, driving demand for various network content. Copper and optical communication serve different but complementary roles. Copper remains the preferred solution when it meets distance, power consumption, cost, and reliability requirements; however, when bandwidth and distance exceed the practical limitations of copper, optical communication becomes necessary. NVIDIA's strategy has remained consistent: use copper when possible, and only resort to optical communication when necessary. This is not a mutually exclusive market. The growth of optical interconnects does not mean that copper will disappear, and the resilience of copper demand does not imply that optical communication will not scale. As the scale and complexity of AI systems increase, the importance of data transmission between GPUs, switches, racks, and clusters rises, and both copper and optical communication connections should benefit.

[SemiAnalysis: AI Networks Are Not an Either/Or Choice Between Copper and Optical Communication; Both Will Benefit from GPU Cluster Expansion]On June 20, SemiAnalysis, an independent research institution focused on semiconductors and AI, published a statement indicating that investors are increasingly viewing AI networks as a binary choice between copper and optical communication, continuously assessing the rotation between the two themes. However, it believes that as the scale of GPU clusters expands, the importance of efficiently connecting these clusters will only continue to rise, driving demand for various network content. Copper and optical communication serve different but complementary roles. Copper remains the preferred solution when it meets distance, power consumption, cost, and reliability requirements; however, when bandwidth and distance exceed the practical limitations of copper, optical communication becomes necessary. NVIDIA's strategy has remained consistent: use copper when possible, and only resort to optical communication when necessary. This is not a mutually exclusive market. The growth of optical interconnects does not mean that copper will disappear, and the resilience of copper demand does not imply that optical communication will not scale. As the scale and complexity of AI systems increase, the importance of data transmission between GPUs, switches, racks, and clusters rises, and both copper and optical communication connections should benefit.

SemiAnalysis: AI Networks Are Not an Either/Or Choice Between Copper and Optical Communication; Both Will Benefit from GPU Cluster Expansion

On June 20, the semiconductor and AI independent research organization SemiAnalysis published an article stating that investors are increasingly viewing AI networks as a binary choice between copper and optical communication, continuously assessing the rotation between the two themes. However, they believe that as the scale of GPU clusters expands, the importance of efficiently connecting these clusters will only continue to rise, driving growth in demand for various network content. Copper and optical communication serve different but complementary roles. Copper remains the preferred solution when it can meet distance, power consumption, cost, and reliability requirements; however, when bandwidth and distance exceed the practical limits of copper, optical communication becomes necessary. NVIDIA's strategy has remained consistent: use copper when possible, and resort to optical communication only when necessary. This is not a mutually exclusive market. The growth of optical interconnects does not mean that copper will disappear, and the resilient demand for copper does not imply that optical communication will not scale. As the scale and complexity of AI systems increase, the importance of data transmission between GPUs, switches, racks, and clusters rises, and both copper and optical communication connections should benefit.

[SemiAnalysis: AI Networks Benefit from Both Copper and Optical Communication]On June 20, the semiconductor and AI independent research organization SemiAnalysis published an article stating that investors are increasingly viewing AI networks as a binary choice between copper and optical communication, continuously assessing the rotation between the two themes. However, they believe that as the scale of GPU clusters expands, the importance of efficiently connecting these clusters will only continue to rise, driving growth in demand for various network content. Copper and optical communication serve different but complementary roles. Copper remains the preferred solution when it can meet distance, power consumption, cost, and reliability requirements; however, when bandwidth and distance exceed the practical limits of copper, optical communication becomes necessary. NVIDIA's strategy has remained consistent: use copper when possible, and resort to optical communication only when necessary. This is not a mutually exclusive market. The growth of optical interconnects does not mean that copper will disappear, and the resilient demand for copper does not imply that optical communication will not scale. As the scale and complexity of AI systems increase, the importance of data transmission between GPUs, switches, racks, and clusters rises, and both copper and optical communication connections should benefit.

SemiAnalysis: AI Networks Benefit from Both Copper and Optical Communication

On June 20, Ki Young Ju, the founder of CryptoQuant, stated on social media that the previous trend of 'Bitcoin rotating into altcoin assets' that used to drive altcoin seasons has essentially disappeared. Since 2021, the trading volume of altcoins against BTC has significantly shrunk. He believes that the era where 'altcoins rise simply because of Bitcoin's increase' may have come to an end.

[CryptoQuant Founder: The Era of Altcoins Rising with Bitcoin May Be Over]On June 20, Ki Young Ju, the founder of CryptoQuant, stated on social media that the previous trend of 'Bitcoin rotating into altcoin assets' that used to drive altcoin seasons has essentially disappeared. Since 2021, the trading volume of altcoins against BTC has significantly shrunk. He believes that the era where 'altcoins rise simply because of Bitcoin's increase' may have come to an end.

CryptoQuant Founder: The Era of Altcoins Rising with Bitcoin May Be Over

On June 20, Ki Young Ju, the founder of CryptoQuant, posted on social media stating that the previous trend of 'Bitcoin rotating into altcoin assets' that used to drive altcoin seasons has essentially disappeared. Since 2021, the trading volume of altcoins against BTC has significantly shrunk. He believes that the era where 'altcoins rise simply because of Bitcoin's increase' may have come to an end.

[CryptoQuant Founder: The Era of Altcoins Rising with Bitcoin May Be Over]On June 20, Ki Young Ju, the founder of CryptoQuant, posted on social media stating that the previous trend of 'Bitcoin rotating into altcoin assets' that used to drive altcoin seasons has essentially disappeared. Since 2021, the trading volume of altcoins against BTC has significantly shrunk. He believes that the era where 'altcoins rise simply because of Bitcoin's increase' may have come to an end.

On June 20, U.S. President Trump, in an interview with Axios, addressed whether his presidency is nearing its end, stating that he does not believe it is the case and that there are still two and a half years remaining. Regarding the notion that presidents typically lose control of the House of Representatives during the last midterm election of their second term, leading to declining poll numbers and a weakening of power, Trump disagreed, labeling it as 'fake polling' and asserting that his polling data is very strong, claiming he could defeat any opponent by a margin of 25 percentage points. Trump mentioned that there are several 'very significant and impactful' things to accomplish in the next two and a half years, including correcting wrongs and improving areas that can be enhanced. He also discussed the renovation of the White House, stating that they are constructing 'one of the greatest banquet halls and security nets in the world,' utilizing bulletproof glass and a roof designed to counter drones. He noted that Senate approval is not required for this project, as funding comes from himself and companies like Apple and Microsoft, without the need for appropriations. Washington, D.C. has transformed from a 'death trap' into one of the safest cities in America.

[Trump Discusses Midterm Elections: Denies Loss of Power, Calls Poll Declines 'Fake']On June 20, U.S. President Trump, in an interview with Axios, addressed whether his presidency is nearing its end, stating that he does not believe it is the case and that there are still two and a half years remaining. Regarding the notion that presidents typically lose control of the House of Representatives during the last midterm election of their second term, leading to declining poll numbers and a weakening of power, Trump disagreed, labeling it as 'fake polling' and asserting that his polling data is very strong, claiming he could defeat any opponent by a margin of 25 percentage points. Trump mentioned that there are several 'very significant and impactful' things to accomplish in the next two and a half years, including correcting wrongs and improving areas that can be enhanced. He also discussed the renovation of the White House, stating that they are constructing 'one of the greatest banquet halls and security nets in the world,' utilizing bulletproof glass and a roof designed to counter drones. He noted that Senate approval is not required for this project, as funding comes from himself and companies like Apple and Microsoft, without the need for appropriations. Washington, D.C. has transformed from a 'death trap' into one of the safest cities in America.

Trump Discusses Midterm Elections: Denies Loss of Power, Calls Poll Declines 'Fake'

On June 20, U.S. President Donald Trump, in an interview with Axios, addressed whether his presidential term is nearing its end, stating that he does not believe it is, as there are still two and a half years remaining. Regarding the common notion that a president's party typically loses control of the House of Representatives during the last midterm elections of their second term, leading to declining polls and a weakening of power, Trump disagreed, labeling this as 'fake polling' and asserting that his polling data is very strong, claiming he could defeat any opponent by a margin of 25 percentage points. Trump mentioned that there are several 'very significant, very impactful' things to accomplish in the next two and a half years, including correcting wrongs and improving what can be done better. He also discussed renovations at the White House, stating that they are constructing 'one of the greatest banquet halls and security nets in the world,' utilizing bulletproof glass and a roof equipped to counter drones. He noted that Senate approval is not needed for this, as funding comes from himself and companies like Apple and Microsoft, without requiring appropriations. Washington, D.C. has transformed from a 'death trap' into one of the safest cities in America.

[Trump Discusses Midterm Elections: Denies Loss of Power, Calls Poll Declines 'Fake']On June 20, U.S. President Donald Trump, in an interview with Axios, addressed whether his presidential term is nearing its end, stating that he does not believe it is, as there are still two and a half years remaining. Regarding the common notion that a president's party typically loses control of the House of Representatives during the last midterm elections of their second term, leading to declining polls and a weakening of power, Trump disagreed, labeling this as 'fake polling' and asserting that his polling data is very strong, claiming he could defeat any opponent by a margin of 25 percentage points. Trump mentioned that there are several 'very significant, very impactful' things to accomplish in the next two and a half years, including correcting wrongs and improving what can be done better. He also discussed renovations at the White House, stating that they are constructing 'one of the greatest banquet halls and security nets in the world,' utilizing bulletproof glass and a roof equipped to counter drones. He noted that Senate approval is not needed for this, as funding comes from himself and companies like Apple and Microsoft, without requiring appropriations. Washington, D.C. has transformed from a 'death trap' into one of the safest cities in America.

On June 20, a16z crypto disclosed data showing that the weekly trading volume in prediction markets reached $10.8 billion for the first time, setting a historical record. This record growth was driven by the convergence of multiple global events, including the SpaceX IPO, the U.S.-Iran peace agreement, the NBA Finals, and the World Cup. a16z crypto noted that the prediction market size has rapidly expanded over the past year, with weekly trading volume around $500 million a year ago, and even during active market periods, weekly trading volume was below $1 billion. Since last fall, trading volume has steadily increased, stabilizing this spring in the range of $6 billion to $7 billion. Even in the current 'low volatility week,' the market size has significantly exceeded the peak levels of a year ago, indicating a continued structural increase in liquidity and participation in prediction markets.

[a16z Crypto: Record Weekly Trading Volume in Prediction Markets Driven by Multiple Events]On June 20, a16z crypto disclosed data showing that the weekly trading volume in prediction markets reached $10.8 billion for the first time, setting a historical record. This record growth was driven by the convergence of multiple global events, including the SpaceX IPO, the U.S.-Iran peace agreement, the NBA Finals, and the World Cup. a16z crypto noted that the prediction market size has rapidly expanded over the past year, with weekly trading volume around $500 million a year ago, and even during active market periods, weekly trading volume was below $1 billion. Since last fall, trading volume has steadily increased, stabilizing this spring in the range of $6 billion to $7 billion. Even in the current 'low volatility week,' the market size has significantly exceeded the peak levels of a year ago, indicating a continued structural increase in liquidity and participation in prediction markets.

a16z Crypto: Record Weekly Trading Volume in Prediction Markets Driven by Multiple Events

On June 20, a16z crypto disclosed data showing that the weekly trading volume in prediction markets reached $10.8 billion for the first time, setting a new historical record. This record growth was driven by a confluence of global events, including the SpaceX IPO, the U.S.-Iran peace agreement, the NBA Finals, and the World Cup. a16z crypto noted that the prediction market size has rapidly expanded over the past year, with weekly trading volume around $500 million a year ago, and even during active market periods, it was below $1 billion. Since last fall, trading volume has steadily increased, stabilizing between $6 billion and $7 billion this spring. Even during the current 'low volatility week,' the market size has significantly surpassed the peak levels of a year ago, indicating a continued structural increase in liquidity and participation in prediction markets.

[a16z Crypto: Record Weekly Trading Volume in Prediction Markets Driven by Multiple Global Events]On June 20, a16z crypto disclosed data showing that the weekly trading volume in prediction markets reached $10.8 billion for the first time, setting a new historical record. This record growth was driven by a confluence of global events, including the SpaceX IPO, the U.S.-Iran peace agreement, the NBA Finals, and the World Cup. a16z crypto noted that the prediction market size has rapidly expanded over the past year, with weekly trading volume around $500 million a year ago, and even during active market periods, it was below $1 billion. Since last fall, trading volume has steadily increased, stabilizing between $6 billion and $7 billion this spring. Even during the current 'low volatility week,' the market size has significantly surpassed the peak levels of a year ago, indicating a continued structural increase in liquidity and participation in prediction markets.

a16z Crypto: Record Weekly Trading Volume in Prediction Markets Driven by Multiple Global Events

On June 20, Jake Chervinsky, CEO of the Hyperliquid Policy Center, stated that the Chicago Mercantile Exchange's lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) is 'a shocking misjudgment' and an 'unnecessary mistake.' Once regarded as the absolute leader in the U.S. derivatives market, the CME now appears in court as a 'monopolistic vested interest afraid of competition.' He cited CFTC Chairman Mike Selig's viewpoint: 'Vested interests are always afraid of the future, but the public should not be afraid of vested interests.'

[Hyperliquid Policy Center: CME's Lawsuit Against CFTC is a 'Major Misjudgment' Exposing Its Anti-Competitive Stance]On June 20, Jake Chervinsky, CEO of the Hyperliquid Policy Center, stated that the Chicago Mercantile Exchange's lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) is 'a shocking misjudgment' and an 'unnecessary mistake.' Once regarded as the absolute leader in the U.S. derivatives market, the CME now appears in court as a 'monopolistic vested interest afraid of competition.' He cited CFTC Chairman Mike Selig's viewpoint: 'Vested interests are always afraid of the future, but the public should not be afraid of vested interests.'

Hyperliquid Policy Center: CME's Lawsuit Against CFTC is a 'Major Misjudgment' Exposing Its Anti-Competitive Stance

As of June 19, according to CME FedWatch, the market is currently pricing in a 40.6% chance of a rate hike by the Federal Reserve at the July 29 meeting.

[40.6% Chance of Fed Rate Hike at July 29 Meeting]As of June 19, according to CME FedWatch, the market is currently pricing in a 40.6% chance of a rate hike by the Federal Reserve at the July 29 meeting.

40.6% Chance of Fed Rate Hike at July 29 Meeting

U.S. Government Bans Foreign Nationals from Using Fable 5, Anthropic Issues Rebuttal

Bitcoin Liquidation Shakeout Leaves Traders Watching $66K Resistance And $61K Support

Ripple Launches XRPL AI Starter Kit For XRP And RLUSD Agent Payments

China's Export Controls to Japan Create Bottleneck; 'White-Haired Stock God' Serenity Claims South Korea's Foosung to Become a 'Big Winner'

Claude to Mandate "Face-Scan ID Verification", No ID No Service Starting July?

A Clod of Chinese Soil Chokes Two Japanese Giants

U.S.-Iran Ceasefire: How Much of a Bitcoin Rally Can a Truce Agreement Support?

World Cup Upset! Polymarket User Loses Nearly $1 Million

Standard Chartered Bank Places a 40x 'Bet', Calls for UNI to Rise to $100

Cursor's New 1.5T Model Abandons Kimi Foundation, $60 Billion Stock Swap for Cursor, Musk's First Move Targets Microsoft's GitHub

Article

OpenAI Introduces Codex 'Record and Replay' Feature to Transform Demonstrated Workflows into AI Skills

Founder of Zhipu AI, Tang Jie: GLM-5.2's Open Source Release Will Gradually Narrow Performance Gap with OpenAI and Anthropic

40.6% Chance of Fed Rate Hike at July 29 Meeting

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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