The Altcoin Vector #34

insights.glassnodePublished on 2025-12-24Last updated on 2025-12-24

Abstract

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Executive Summary

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J.P. Morgan's Take: KOSPI Plunged 28%, But Leverage Unwinding is Mostly Done

Morgan Stanley interprets that the KOSPI's 28% plunge signals significant progress in leverage unwinding. Leveraged ETF assets tied to Korean stocks have dropped from around $50 billion in late June to $26 billion, representing about 75% of the required reduction. Hedge fund deleveraging has also exceeded 50%. While foreign outflows surpassed $110 billion year-to-date, approximately 90% stemmed from sales in just two memory chip stocks: Samsung Electronics and SK Hynix. The sell-off is attributed more to a crowded trade unwind and forced deleveraging than a fundamental collapse. EPS forecasts for 2026, particularly in tech and industrial sectors linked to AI, remain strongly upwardly revised. However, risks persist. Market volatility remains elevated, regulatory tightening on single-stock leveraged products is underway, and the market's health remains heavily dependent on the sustainability of AI-related demand. Morgan Stanley maintains its overweight stance on Korea with a 12-month KOSPI target of 12,500 points, contingent on continued deleveraging and intact AI fundamentals.

marsbit7m ago

J.P. Morgan's Take: KOSPI Plunged 28%, But Leverage Unwinding is Mostly Done

marsbit7m ago

Earning Stock Tokens with NFTs? What Exactly is StonkBrokers?

StonkBrokers, a project by Web3 developer team CLUTCH on Robinhood Chain, gives 4444 pixel-style NFT "brokers" an active role in decentralized finance. Each NFT is linked to an ERC-6551 token-bound account that can hold assets like stock tokens. The NFT can be activated by staking the project's ERC-20 token, STONKBROKER, to increase its weight for receiving rewards. The STONKBROKER token is also used to mint or swap for NFTs via the Anvil NFT AMM. Rewards in the form of stock tokens are funded primarily by a portion of the ETH trading fees generated on Anvil. Community members can trigger a "Clock In" function to convert accumulated ETH into stock tokens, which are then distributed to the token-bound accounts of activated NFTs based on their staking tier. The project also allows NFT holders to use their assets as collateral to borrow STONKBROKER tokens. Looking ahead, CLUTCH plans to launch Stonk Launcher, a token launchpad, and Stonk Exchange, a Vote Directed DEX (vDEX) built on Uniswap V3 architecture where STONKBROKER holders can vote to direct fee flows. While the project introduces a novel model where NFTs function as operable financial accounts, it is still in development. Its long-term viability hinges on the successful launch of its planned products, sustainable protocol revenue, and navigating risks like market volatility and smart contract security.

marsbit21m ago

Earning Stock Tokens with NFTs? What Exactly is StonkBrokers?

marsbit21m ago

Zhongji Innolight Leads Investment in a Tsinghua '90s Postgraduate

Shihe Robotics, a Chinese intelligent high-altitude robotics company, has completed a Series C financing round worth hundreds of millions of RMB. The round was jointly led by Qianggang Capital and Zhongji InnoLight, with participation from Guangxi Investment Capital, Guohai Securities, Junton Capital, and existing investor Fosun RuiZheng. Founded around 2015 by Xu Huayang, a Tsinghua University Ph.D. graduate, the company has spent nearly a decade focusing on robotics for high-risk, high-altitude maintenance work. Starting from a specific application in ship hull derusting, which has achieved a dominant market share in China, Shihe has expanded into a wider product matrix serving scenarios in petrochemical storage tank maintenance, energy facility inspection, bridge infrastructure, and building façade cleaning. CEO Xu Huayang emphasizes a hardware-first, commercialization-focused philosophy for the robotics industry. The company's strategy revolves around "one machine, multiple uses; complete process closure," aiming to deliver reliable value in real industrial settings rather than pursuing demos. It has served major domestic clients like COSCO, China State Shipbuilding Corporation, Sinopec, and Saudi Aramco. Shihe is building its technological edge by leveraging vast, high-fidelity industrial data collected during operations. It is developing a vertical "Industrial World Model" in collaboration with top university labs. This model is tailored for complex, hazardous industrial environments, enabling robots to progress towards greater autonomy in perception, decision-making, and task execution. In the context of the booming "embodied AI" field, Shihe positions its path as starting from structured, specialized industrial scenarios before moving to more complex environments. Concurrently, the company is accelerating its global expansion, with overseas revenue growing tenfold over two years. Xu aims for international markets to contribute half of the company's revenue within five years. The latest funding will support further technological development, product matrix expansion, and global market penetration.

marsbit40m ago

Zhongji Innolight Leads Investment in a Tsinghua '90s Postgraduate

marsbit40m ago

NFTs That Can Earn Stock Tokens? What Exactly is StonkBrokers?

Title: How StonkBrokers Connects NFTs to Stock Token Earnings StonkBrokers is an NFT project from the Web3 development team Clutch Labs (CLUTCH) built on Robinhood Chain. It consists of 4,444 "pixel broker" NFTs. Unlike typical NFTs, each one is linked to an ERC-6551 token-bound account, meaning it functions as its own wallet capable of holding assets like stock tokens. The project's ecosystem includes: 1. **STONKBROKER (ERC-20 Token)**: The fungible token connected to the NFTs via the Anvil AMM. Users can trade tokens for NFTs at a base rate of 666,666 STONKBROKER (plus ETH fees). 2. **NFT Activation & Rewards**: NFT holders must spend STONKBROKER tokens to "activate" their NFT into one of five tiers, which determines their weight in receiving stock token rewards. These rewards are funded by 70% of the ETH trading fees generated on the Anvil AMM. 3. **Lending**: NFTs can be used as collateral to borrow STONKBROKER tokens. 4. **Future Products**: The roadmap includes the Stonk Launcher (a token launchpad) and the Stonk Exchange (a "vote-directed DEX" based on Uniswap V3), scheduled for late July and August 2026, respectively. The project aims to provide NFTs with ongoing utility as active financial agents rather than static collectibles. Its token (STONKBROKER) and NFT collection have seen significant price increases recently. However, the project's long-term viability depends on successful product delivery, sustainable protocol revenue, and navigating risks like market volatility, smart contract security, and the nascent Robinhood Chain ecosystem.

Foresight News1h ago

NFTs That Can Earn Stock Tokens? What Exactly is StonkBrokers?

Foresight News1h ago

Jito jumps 12% after JIP-38 buyback proposal – Can JTO reach $0.80?

Jito (JTO) surged 12% following the introduction of JIP-38, a proposal to use Jito DAO's revenue from JTX Trade for programmatic JTO buybacks and burns for at least one year. The token's price rose to $0.6087 with market cap reaching $304.67 million, supported by increased trading volume and positive sentiment around Solana's ecosystem. Derivatives activity grew as Open Interest increased, indicating fresh capital entering the market. Spot market data also showed sustained buyer dominance. Technically, JTO rebounded from the $0.5332 support level, with the next key resistance at $0.65. A break above this level could pave the way for a move toward $0.80, while failure to hold support may lead to a retest of lower levels. The rally is viewed as driven by improving fundamentals and broader participation rather than mere speculation.

ambcrypto1h ago

Jito jumps 12% after JIP-38 buyback proposal – Can JTO reach $0.80?

ambcrypto1h ago

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8.7k Total ViewsPublished 2024.05.06Updated 2026.06.02

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