7*24

Hot topic

Market

Activities

Astarter has officially released the "three-layer fusion architecture" - coordinating the three independent trends of AI Agent (actor), DePIN (computing power bottom layer), and DeFAI (financial layer) in a unified stack. The project itself summarizes the architecture as follows: "Astarter is building the infrastructure for an autonomous AI agent economy - integrating Al Agent, DePIN, and DeFAI. Industry analysis suggests that this three-layer architecture is one of the few project solutions in the AI Agent economy that has publicly committed to covering all three layers. Most similar projects only cover one layer, while the strategic alliance between Astarter and UXLINK is the first public attempt to fully cover three layers under the same cooperation framework.

[Astarter reveals three-layer fusion architecture to coordinate the three major trends of Al Agent, DePIN, and DeFAI]Astarter has officially released the "three-layer fusion architecture" - coordinating the three independent trends of AI Agent (actor), DePIN (computing power bottom layer), and DeFAI (financial layer) in a unified stack. The project itself summarizes the architecture as follows: "Astarter is building the infrastructure for an autonomous AI agent economy - integrating Al Agent, DePIN, and DeFAI. Industry analysis suggests that this three-layer architecture is one of the few project solutions in the AI Agent economy that has publicly committed to covering all three layers. Most similar projects only cover one layer, while the strategic alliance between Astarter and UXLINK is the first public attempt to fully cover three layers under the same cooperation framework.

Astarter reveals three-layer fusion architecture to coordinate the three major trends of Al Agent, DePIN, and DeFAI

According to monitoring by Dongcha Beating, the closed-end fund Powerlaw Corp. (stock code: PWRL), which packages shares of SpaceX and OpenAI, debuted on Nasdaq on May 27 local time. It triggered multiple rounds of intraday circuit breakers at the opening, ultimately closing up 131.44% at $27.68. On its first trading day, the fund opened at $35.00, nearly doubling from the exchange reference price of $11.96, and peaked at $40.00 during the day. After-hours trading continued to rise to $28.99. The surge in stock price led to extremely high capital premiums on the fund's trading price. Based on a reported net asset value (NAV) of $604.1 million as of May 13, Powerlaw's actual NAV per share is only $13.97. This means that the closing price of $27.68 represents a premium of 98.14% over the actual asset value, indicating that retail investors are acquiring equity in unlisted tech companies at nearly double the price in the public market. When the price peaked at $40.00, the asset premium rate was pushed up to 186.33%. On the first trading day, the trading volume reached 1,101,300 shares, with a total transaction amount of $37.149 million, and the fund's total market capitalization soared to $1.197 billion at closing. The extreme price divergence reflects the market's FOMO (fear of missing out) sentiment towards the fund's holdings in top unicorns like SpaceX (valued at approximately $117 million), OpenAI (valued at approximately $46.9 million), as well as Anthropic and xAI. However, since nearly 80% of the fund's assets are held indirectly through special purpose vehicles (SPVs) and are facing compliance scrutiny related to violations of SPVs from companies like Anthropic, the multilayered hidden costs and potential risks of forced liquidation may exert pressure on the high premium stock price in subsequent trading.

[PWRL Soars 131% on First Trading Day, Triggering Multiple Circuit Breakers]According to monitoring by Dongcha Beating, the closed-end fund Powerlaw Corp. (stock code: PWRL), which packages shares of SpaceX and OpenAI, debuted on Nasdaq on May 27 local time. It triggered multiple rounds of intraday circuit breakers at the opening, ultimately closing up 131.44% at $27.68. On its first trading day, the fund opened at $35.00, nearly doubling from the exchange reference price of $11.96, and peaked at $40.00 during the day. After-hours trading continued to rise to $28.99. The surge in stock price led to extremely high capital premiums on the fund's trading price. Based on a reported net asset value (NAV) of $604.1 million as of May 13, Powerlaw's actual NAV per share is only $13.97. This means that the closing price of $27.68 represents a premium of 98.14% over the actual asset value, indicating that retail investors are acquiring equity in unlisted tech companies at nearly double the price in the public market. When the price peaked at $40.00, the asset premium rate was pushed up to 186.33%. On the first trading day, the trading volume reached 1,101,300 shares, with a total transaction amount of $37.149 million, and the fund's total market capitalization soared to $1.197 billion at closing. The extreme price divergence reflects the market's FOMO (fear of missing out) sentiment towards the fund's holdings in top unicorns like SpaceX (valued at approximately $117 million), OpenAI (valued at approximately $46.9 million), as well as Anthropic and xAI. However, since nearly 80% of the fund's assets are held indirectly through special purpose vehicles (SPVs) and are facing compliance scrutiny related to violations of SPVs from companies like Anthropic, the multilayered hidden costs and potential risks of forced liquidation may exert pressure on the high premium stock price in subsequent trading.

PWRL Soars 131% on First Trading Day, Triggering Multiple Circuit Breakers

On May 28, news emerged that Grant Cardone, CEO of the US real estate investment firm Cardone Capital, announced on social media that the company increased its holdings by acquiring 130 bitcoins during the market correction.

[US Real Estate Investment Firm Cardone Capital Acquires 130 BTC]On May 28, news emerged that Grant Cardone, CEO of the US real estate investment firm Cardone Capital, announced on social media that the company increased its holdings by acquiring 130 bitcoins during the market correction.

US Real Estate Investment Firm Cardone Capital Acquires 130 BTC

A fund manager has issued a stern warning: As the upcoming U.S. Treasury operations are expected to withdraw approximately $150 billion in liquidity from the financial system, the ongoing sell-off of Bitcoin may further intensify. Michael Kramer, founder and CEO of registered investment advisory firm Mott Capital Management, stated in his latest market analysis report, 'In my experience, Bitcoin tends to reflect liquidity conditions more than most other financial instruments. If the Treasury's settlement operations lead to liquidity exhaustion, Bitcoin prices could drop significantly.' The U.S. Treasury regularly issues bonds and notes to raise funds for government spending. When the Treasury sells new securities, it receives cash from investors, which is then transferred to the Treasury's account at the Federal Reserve. Under normal conditions, this process withdraws liquidity from the banking system and reduces the amount of cash available for other investments. These regular settlements can cause temporary but significant liquidity withdrawal, especially during periods of large issuance. Kramer pointed out that between May 28 and June 5, a series of Treasury operations will withdraw approximately $150 billion in market liquidity, with the following details: Thursday: Short-term Treasury bill settlement, $15 billion; Friday: Coupon bond settlement, $47 billion; Monday: Bond settlement, $68 billion; Tuesday: Short-term Treasury bill settlement, $16 billion; June 4: Short-term Treasury bill settlement, estimated at $5 billion to $15 billion. Various markets, including cryptocurrencies, tend to perform better when liquidity is abundant. Even if liquidity tightens only temporarily, investors tend to be cautious and reduce their willingness to allocate to risk assets like Bitcoin.

[Fund Manager Warns: Upcoming $150 Billion U.S. Treasury Operations May Lead to Significant Bitcoin Decline]A fund manager has issued a stern warning: As the upcoming U.S. Treasury operations are expected to withdraw approximately $150 billion in liquidity from the financial system, the ongoing sell-off of Bitcoin may further intensify. Michael Kramer, founder and CEO of registered investment advisory firm Mott Capital Management, stated in his latest market analysis report, 'In my experience, Bitcoin tends to reflect liquidity conditions more than most other financial instruments. If the Treasury's settlement operations lead to liquidity exhaustion, Bitcoin prices could drop significantly.' The U.S. Treasury regularly issues bonds and notes to raise funds for government spending. When the Treasury sells new securities, it receives cash from investors, which is then transferred to the Treasury's account at the Federal Reserve. Under normal conditions, this process withdraws liquidity from the banking system and reduces the amount of cash available for other investments. These regular settlements can cause temporary but significant liquidity withdrawal, especially during periods of large issuance. Kramer pointed out that between May 28 and June 5, a series of Treasury operations will withdraw approximately $150 billion in market liquidity, with the following details: Thursday: Short-term Treasury bill settlement, $15 billion; Friday: Coupon bond settlement, $47 billion; Monday: Bond settlement, $68 billion; Tuesday: Short-term Treasury bill settlement, $16 billion; June 4: Short-term Treasury bill settlement, estimated at $5 billion to $15 billion. Various markets, including cryptocurrencies, tend to perform better when liquidity is abundant. Even if liquidity tightens only temporarily, investors tend to be cautious and reduce their willingness to allocate to risk assets like Bitcoin.

Fund Manager Warns: Upcoming $150 Billion U.S. Treasury Operations May Lead to Significant Bitcoin Decline

On May 28, Grant Cardone, CEO of the American real estate investment company Cardone Capital, announced on social media that Cardone Capital has increased its holdings by 130 bitcoins during the market pullback.

[Cardone Capital Increases Bitcoin Holdings by 130]On May 28, Grant Cardone, CEO of the American real estate investment company Cardone Capital, announced on social media that Cardone Capital has increased its holdings by 130 bitcoins during the market pullback.

Cardone Capital Increases Bitcoin Holdings by 130

On May 28, according to monitoring by Farside Investors, the Bitcoin ETF experienced a net outflow of $733.4 million yesterday, with IBIT accounting for a net outflow of $527.8 million. The Ethereum ETF saw a net outflow of $6.71 million, with ETHA contributing a net outflow of $6.51 million.

[Bitcoin ETF Sees $733.4 Million Outflow, Ethereum ETF $6.71 Million Outflow]On May 28, according to monitoring by Farside Investors, the Bitcoin ETF experienced a net outflow of $733.4 million yesterday, with IBIT accounting for a net outflow of $527.8 million. The Ethereum ETF saw a net outflow of $6.71 million, with ETHA contributing a net outflow of $6.51 million.

Bitcoin ETF Sees $733.4 Million Outflow, Ethereum ETF $6.71 Million Outflow

On May 28, Standard Chartered Bank announced its support for Solowin Holdings in Hong Kong's first institutional crypto asset custody service. (Sina Finance)

[Standard Chartered Bank Supports Solowin Holdings in Hong Kong's First Institutional Crypto Asset Custody Service]On May 28, Standard Chartered Bank announced its support for Solowin Holdings in Hong Kong's first institutional crypto asset custody service. (Sina Finance)

Standard Chartered Bank Supports Solowin Holdings in Hong Kong's First Institutional Crypto Asset Custody Service

On May 28, reports from media outlets such as the Financial Times and Reuters stated that Jensen Huang, CEO of NVIDIA, has accepted an invitation to join the Advisory Committee of the School of Economics and Management at Tsinghua University. 
The Advisory Committee was established in October 2000, with the mission of strengthening the school's connections with various external sectors, enhancing the overall level of research and teaching, and helping the school become a world-class institution in economics and management. It is recognized as one of the highest-level and most influential communication bridges between China's academic community and top global business elites. The current chair of the committee is Tim Cook, CEO of Apple. The committee's member list also includes Elon Musk, Satya Nadella, Mark Zuckerberg, and Masayoshi Son, among others. 
Analysts believe that by joining the Advisory Committee of Tsinghua's School of Economics and Management, Huang can continue to maintain and deepen his connections with China's academic, technological, and business decision-making circles through a high-end platform for academic and business elite exchanges, while adhering to U.S. export control laws. Establishing this connection will also benefit NVIDIA in maintaining a leading position in talent acquisition and academic collaboration in the future.

[Jensen Huang Joins Tsinghua University School of Economics and Management Advisory Committee]On May 28, reports from media outlets such as the Financial Times and Reuters stated that Jensen Huang, CEO of NVIDIA, has accepted an invitation to join the Advisory Committee of the School of Economics and Management at Tsinghua University. 
The Advisory Committee was established in October 2000, with the mission of strengthening the school's connections with various external sectors, enhancing the overall level of research and teaching, and helping the school become a world-class institution in economics and management. It is recognized as one of the highest-level and most influential communication bridges between China's academic community and top global business elites. The current chair of the committee is Tim Cook, CEO of Apple. The committee's member list also includes Elon Musk, Satya Nadella, Mark Zuckerberg, and Masayoshi Son, among others. 
Analysts believe that by joining the Advisory Committee of Tsinghua's School of Economics and Management, Huang can continue to maintain and deepen his connections with China's academic, technological, and business decision-making circles through a high-end platform for academic and business elite exchanges, while adhering to U.S. export control laws. Establishing this connection will also benefit NVIDIA in maintaining a leading position in talent acquisition and academic collaboration in the future.

Jensen Huang Joins Tsinghua University School of Economics and Management Advisory Committee

Data shows that in the past hour, the total liquidation amount across the network reached $272 million, with approximately $263 million coming from long positions and about $8.7553 million from short positions.

[Over $272 Million Liquidated in the Past Hour, Primarily Long Positions]Data shows that in the past hour, the total liquidation amount across the network reached $272 million, with approximately $263 million coming from long positions and about $8.7553 million from short positions.

Over $272 Million Liquidated in the Past Hour, Primarily Long Positions

火币HTX报道，比特币月持续走弱，在83,000美元附近受阻后回落，当前正迈向5月收跌的走势，被市场视为经典“5月抛售”季节性信号再度出现。历史数据显示，比特币在出现“红五月”后的1个月平均回报约为-10%，3个月平均回报约-3.3%，短期通常延续疲弱走势；若按历史均值推算，价格可能回落至约68,200美元区间。 
分析指出，在熊市结构中的“红五月”往往更具破坏性，不过比特币在“红五月”后的6个月平均涨幅可达约+139%，剔除异常年份后仍约+12.9%，显示长期趋势并未被季节性信号破坏。

【分析：比特币或延续“5月抛售”，历史信号指向约10%短期回调风险】火币HTX报道，比特币月持续走弱，在83,000美元附近受阻后回落，当前正迈向5月收跌的走势，被市场视为经典“5月抛售”季节性信号再度出现。历史数据显示，比特币在出现“红五月”后的1个月平均回报约为-10%，3个月平均回报约-3.3%，短期通常延续疲弱走势；若按历史均值推算，价格可能回落至约68,200美元区间。 
分析指出，在熊市结构中的“红五月”往往更具破坏性，不过比特币在“红五月”后的6个月平均涨幅可达约+139%，剔除异常年份后仍约+12.9%，显示长期趋势并未被季节性信号破坏。

分析：比特币或延续“5月抛售”，历史信号指向约10%短期回调风险

Musk Posted a Recruitment Ad for SpaceX, and After Reading the Comments Section, I Understood

XRP Has Overtaken Solana And Ethereum In This Major Metric

Cloudflare CEO: How I Decided Which Employees to Replace with AI?

Secures Over $60 Million in Funding from Dragonfly, Sequoia, and Others. An In-Depth Look at the On-Chain Derivatives Protocol Variational | CryptoSeed

XRP Ledger Hits No. 4 In RWA Rankings In Less Than A Year

General Tensor and Talisman Joining Forces To Build Financial Rails for Decentralized AI

With Presale Funding Now Above $7 Million, Ozak AI Enters a New Growth Phase Marked by Steady Capital Inflows

Why Did Zhipu Surge Nearly 30% in a Single Day?

Warsh's First Day in Office, Markets Deliver a 'Wake-up Call': Rate Hike Expected This Year

Microsoft to Discontinue Using Claude: Too Expensive, or a Calculated Move?

Article

Bitcoin Fear and Greed Index is 25

UCarpay CARDPIE: Connecting Digital Assets with Global Cross border Payment Channels

分析：比特币或延续“5月抛售”，历史信号指向约10%短期回调风险

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

Related Articles

All Comments0LatestHot

Trending Topics

Related Articles