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On July 29, semiconductor foundry GlobalFoundries' US stock rose over 16% pre-market. The U.S. government previously announced that GlobalFoundries would receive up to $300 million in funding.

[Semiconductor foundry GlobalFoundries' US stock rises over 16% pre-market]On July 29, semiconductor foundry GlobalFoundries' US stock rose over 16% pre-market. The U.S. government previously announced that GlobalFoundries would receive up to $300 million in funding.

Semiconductor foundry GlobalFoundries' US stock rises over 16% pre-market

According to Hyperinsight monitoring, the Federal Reserve will announce the FOMC interest rate decision at 2:00 AM Beijing time tomorrow, followed by a press conference at 2:30 AM. On the eve of the decision, a whale (0x927) opened a position from zero overnight and completed a new short position within approximately 2 hours. Currently, it holds a 41x isolated short on 3,250 SP500 contracts, with a position value of approximately $24.202 million, an average price of $7,410.7, and an unrealized loss of about $117,000. The liquidation price is $7,516.9, and no public pending orders have been set. Historical completed trades show a win rate of 80% over the past 30 days, with a total of 50 SP500 trades executed.

[Smart Money Opens 41x Short on S&P 500 Worth $24 Million Ahead of FOMC]According to Hyperinsight monitoring, the Federal Reserve will announce the FOMC interest rate decision at 2:00 AM Beijing time tomorrow, followed by a press conference at 2:30 AM. On the eve of the decision, a whale (0x927) opened a position from zero overnight and completed a new short position within approximately 2 hours. Currently, it holds a 41x isolated short on 3,250 SP500 contracts, with a position value of approximately $24.202 million, an average price of $7,410.7, and an unrealized loss of about $117,000. The liquidation price is $7,516.9, and no public pending orders have been set. Historical completed trades show a win rate of 80% over the past 30 days, with a total of 50 SP500 trades executed.

Smart Money Opens 41x Short on S&P 500 Worth $24 Million Ahead of FOMC

On July 29, K33 Research stated that Bitcoin has been consolidating in a narrow range of $60,000 to $66,000 over the past week. The average daily spot trading volume in July was only about $2.2 billion, CME open interest is near multi-year lows, and perpetual contract open interest has stagnated at around 300,000 Bitcoins. Bitcoin's July trading volume hit its lowest level since November 2023.

[K33: Bitcoin July Trading Volume Lowest Since 2023]On July 29, K33 Research stated that Bitcoin has been consolidating in a narrow range of $60,000 to $66,000 over the past week. The average daily spot trading volume in July was only about $2.2 billion, CME open interest is near multi-year lows, and perpetual contract open interest has stagnated at around 300,000 Bitcoins. Bitcoin's July trading volume hit its lowest level since November 2023.

K33: Bitcoin July Trading Volume Lowest Since 2023

On July 29, Grayscale Research's latest report indicated that Hyperliquid's native token HYPE remains undervalued compared to fintech listed companies. Research Director Zach Pandl applied an 'Earnings per Token' valuation method similar to stocks' 'Earnings per Share (EPS)', estimating that Hyperliquid's protocol profit will reach approximately $1 billion by 2027, representing a growth of about 20% from 2025. The report expects HYPE's circulating supply to increase to between 270 million and 310 million tokens by the end of 2027, corresponding to earnings per token of approximately $3.25 to $3.75. Based on the current price of around $54, HYPE's forward P/E ratio is about 15 to 18 times, which Grayscale believes is still lower than most fintech companies. However, the report also warns that lower-than-expected protocol revenue growth and excessively rapid token supply expansion are key risks. Meanwhile, HYPE has fallen about 29% from its historical high in June, with recent institutional unstaking and capital outflows continuing to pressure market sentiment.

[Grayscale: HYPE Still Undervalued Compared to Fintech Stocks, Expects Protocol Profit to Reach $1 Billion by 2027]On July 29, Grayscale Research's latest report indicated that Hyperliquid's native token HYPE remains undervalued compared to fintech listed companies. Research Director Zach Pandl applied an 'Earnings per Token' valuation method similar to stocks' 'Earnings per Share (EPS)', estimating that Hyperliquid's protocol profit will reach approximately $1 billion by 2027, representing a growth of about 20% from 2025. The report expects HYPE's circulating supply to increase to between 270 million and 310 million tokens by the end of 2027, corresponding to earnings per token of approximately $3.25 to $3.75. Based on the current price of around $54, HYPE's forward P/E ratio is about 15 to 18 times, which Grayscale believes is still lower than most fintech companies. However, the report also warns that lower-than-expected protocol revenue growth and excessively rapid token supply expansion are key risks. Meanwhile, HYPE has fallen about 29% from its historical high in June, with recent institutional unstaking and capital outflows continuing to pressure market sentiment.

Grayscale: HYPE Still Undervalued Compared to Fintech Stocks, Expects Protocol Profit to Reach $1 Billion by 2027

Grayscale Research released a special report on Tuesday providing a valuation assessment of the native trading protocol Hyperliquid (token HYPE), suggesting that HYPE's current price remains undervalued when measured by fintech stock pricing standards.

Zach Pandl, Head of Grayscale Research, used a "per-token earnings" valuation model, analogous to the pricing logic of earnings per share (EPS) for stocks, to estimate HYPE. The report assumes that, driven by a recovery in crypto trading volumes and growth in stablecoin reserve yields under Hyperliquid's Unified Quote Asset (AQA) framework, Hyperliquid's profits could reach approximately $1 billion by 2027, representing about 20% growth from 2025.

On the supply side, the report estimates that the circulating supply of HYPE by the end of 2027 will be between 270 million and 310 million tokens, with corresponding expected earnings per token of $3.25 to $3.75. Based on the current token price of around $54, its forward price-to-earnings ratio is approximately 15 to 18 times, significantly lower than the valuation center of traditional fintech listed companies.

In terms of price performance, this valuation comes at a time when HYPE is under pressure. Over the past month, HYPE has fallen more than 13%, diverging from the overall trend of major mainstream assets that have maintained gains. As of press time, HYPE is trading at around $54, a decline of approximately 29% from its historical high set in mid-June.

The report also highlights two core risks: lower-than-expected network revenue growth and faster-than-anticipated token supply growth, both of which could lead to a downward revision of the valuation logic.

[Grayscale Research: Hyperliquid (HYPE) Still Undervalued Compared to Fintech Stocks Based on Cash Flow Valuation]Grayscale Research released a special report on Tuesday providing a valuation assessment of the native trading protocol Hyperliquid (token HYPE), suggesting that HYPE's current price remains undervalued when measured by fintech stock pricing standards.

Zach Pandl, Head of Grayscale Research, used a "per-token earnings" valuation model, analogous to the pricing logic of earnings per share (EPS) for stocks, to estimate HYPE. The report assumes that, driven by a recovery in crypto trading volumes and growth in stablecoin reserve yields under Hyperliquid's Unified Quote Asset (AQA) framework, Hyperliquid's profits could reach approximately $1 billion by 2027, representing about 20% growth from 2025.

On the supply side, the report estimates that the circulating supply of HYPE by the end of 2027 will be between 270 million and 310 million tokens, with corresponding expected earnings per token of $3.25 to $3.75. Based on the current token price of around $54, its forward price-to-earnings ratio is approximately 15 to 18 times, significantly lower than the valuation center of traditional fintech listed companies.

In terms of price performance, this valuation comes at a time when HYPE is under pressure. Over the past month, HYPE has fallen more than 13%, diverging from the overall trend of major mainstream assets that have maintained gains. As of press time, HYPE is trading at around $54, a decline of approximately 29% from its historical high set in mid-June.

The report also highlights two core risks: lower-than-expected network revenue growth and faster-than-anticipated token supply growth, both of which could lead to a downward revision of the valuation logic.

Grayscale Research: Hyperliquid (HYPE) Still Undervalued Compared to Fintech Stocks Based on Cash Flow Valuation

On July 29, the United States announced a letter of intent for semiconductor R&D investment totaling $874 million to further strengthen domestic chip technology research and development capabilities. At the same time, the U.S. announced that wafer foundry company GlobalFoundries will receive up to $300 million in government funding to support its semiconductor R&D and advanced manufacturing capacity building. (Jin Shi)

[US Plans $874 Million for Semiconductor R&D, GlobalFoundries to Receive up to $300 Million]On July 29, the United States announced a letter of intent for semiconductor R&D investment totaling $874 million to further strengthen domestic chip technology research and development capabilities. At the same time, the U.S. announced that wafer foundry company GlobalFoundries will receive up to $300 million in government funding to support its semiconductor R&D and advanced manufacturing capacity building. (Jin Shi)

US Plans $874 Million for Semiconductor R&D, GlobalFoundries to Receive up to $300 Million

July 29 news: Moonshot AI has completed its Series F financing round, raising over $3.5 billion at a post-money valuation of $35 billion. The round initially planned to raise up to $2 billion at a valuation of approximately $30 billion, but both the final amount and valuation exceeded targets. The company has already begun its Pre-IPO round with a pre-money valuation of $50 billion. At the end of last December, Moonshot AI completed a $500 million financing round at a post-money valuation of $4.3 billion. If the next round proceeds smoothly, the company's valuation will have increased 11.6 times in just over six months. The acceleration in valuation growth became evident after the release of K2.5.

K2.5 was released at the end of January, followed by a Series D round of over $700 million; K2.6 was released in April, with a Series E round of $2 billion pushing the valuation past $20 billion; K2.7 Code was released on June 12, and the Series F round started in the same month; K3 was launched on July 16, and the Series F round ultimately closed above target, raising the valuation to $35 billion. Starting with K2.5, Moonshot AI has almost consistently launched or completed a financing round immediately after each new model release. Model upgrades have become a direct bargaining chip for investors to reprice the company.

[Moonshot AI's Valuation Surges Over 10x in Six Months, Financing Follows Model Releases Since K2.5]July 29 news: Moonshot AI has completed its Series F financing round, raising over $3.5 billion at a post-money valuation of $35 billion. The round initially planned to raise up to $2 billion at a valuation of approximately $30 billion, but both the final amount and valuation exceeded targets. The company has already begun its Pre-IPO round with a pre-money valuation of $50 billion. At the end of last December, Moonshot AI completed a $500 million financing round at a post-money valuation of $4.3 billion. If the next round proceeds smoothly, the company's valuation will have increased 11.6 times in just over six months. The acceleration in valuation growth became evident after the release of K2.5.

K2.5 was released at the end of January, followed by a Series D round of over $700 million; K2.6 was released in April, with a Series E round of $2 billion pushing the valuation past $20 billion; K2.7 Code was released on June 12, and the Series F round started in the same month; K3 was launched on July 16, and the Series F round ultimately closed above target, raising the valuation to $35 billion. Starting with K2.5, Moonshot AI has almost consistently launched or completed a financing round immediately after each new model release. Model upgrades have become a direct bargaining chip for investors to reprice the company.

Moonshot AI's Valuation Surges Over 10x in Six Months, Financing Follows Model Releases Since K2.5

According to Beating monitoring, Dark Side of the Moon has completed Series F financing with an amount exceeding $3.5 billion, achieving a post-investment valuation of $35 billion. This round initially planned to raise up to $2 billion at a valuation of about $30 billion, but the final amount and valuation both exceeded targets. The company has already initiated Pre-IPO round with a pre-investment valuation of $50 billion. At the end of last December, Dark Side of the Moon completed $500 million financing with a post-investment valuation of $4.3 billion. If the next round completes smoothly, the company's valuation will have grown 11.6 times in just over six months. The valuation acceleration has been particularly pronounced since K2.5. K2.5 was released at the end of January, followed by Series D financing of over $700 million, pushing the valuation above $10 billion; K2.6 was released in April, and Series E financing of $2 billion pushed the valuation past $20 billion; K2.7 Code was released on June 12, and Series F was launched in the same month; K3 went live on July 16, and Series F ultimately exceeded expectations, raising the valuation to $35 billion. Starting from K2.5, Dark Side of the Moon has almost launched or completed a round of financing each time it releases a new model. Model upgrades have also become a direct bargaining chip for investors to reprice the company.

[Dark Side of the Moon (Kimi) Valuation Surges Over 10x in Six Months, Financing Follows Model Releases After K2.5]According to Beating monitoring, Dark Side of the Moon has completed Series F financing with an amount exceeding $3.5 billion, achieving a post-investment valuation of $35 billion. This round initially planned to raise up to $2 billion at a valuation of about $30 billion, but the final amount and valuation both exceeded targets. The company has already initiated Pre-IPO round with a pre-investment valuation of $50 billion. At the end of last December, Dark Side of the Moon completed $500 million financing with a post-investment valuation of $4.3 billion. If the next round completes smoothly, the company's valuation will have grown 11.6 times in just over six months. The valuation acceleration has been particularly pronounced since K2.5. K2.5 was released at the end of January, followed by Series D financing of over $700 million, pushing the valuation above $10 billion; K2.6 was released in April, and Series E financing of $2 billion pushed the valuation past $20 billion; K2.7 Code was released on June 12, and Series F was launched in the same month; K3 went live on July 16, and Series F ultimately exceeded expectations, raising the valuation to $35 billion. Starting from K2.5, Dark Side of the Moon has almost launched or completed a round of financing each time it releases a new model. Model upgrades have also become a direct bargaining chip for investors to reprice the company.

Dark Side of the Moon (Kimi) Valuation Surges Over 10x in Six Months, Financing Follows Model Releases After K2.5

On July 29, the Central Bank of Russia (CBR) released a draft of supporting regulatory rules for the cryptocurrency market, covering registration and operational requirements for trading platforms, digital depositories, and token issuers. The draft stipulates that the minimum net asset value of digital depositories must be between 50 million and 250 million rubles (approximately $600,000 to $3 million), with the specific amount depending on the nature of the business. These rules will supplement the Law on Digital Currency and Digital Rights, passed by the State Duma earlier this month, which is expected to take effect on September 1, 2026. Under the new framework, non-qualified investors may only purchase mainstream assets such as BTC, ETH, and USDT annually, with a limit of $4,000; industry participants will have a transition period until March 1, 2027, to complete compliance and approval procedures.

[Central Bank of Russia Releases Draft Rules for Crypto Trading Platforms and Custodians]On July 29, the Central Bank of Russia (CBR) released a draft of supporting regulatory rules for the cryptocurrency market, covering registration and operational requirements for trading platforms, digital depositories, and token issuers. The draft stipulates that the minimum net asset value of digital depositories must be between 50 million and 250 million rubles (approximately $600,000 to $3 million), with the specific amount depending on the nature of the business. These rules will supplement the Law on Digital Currency and Digital Rights, passed by the State Duma earlier this month, which is expected to take effect on September 1, 2026. Under the new framework, non-qualified investors may only purchase mainstream assets such as BTC, ETH, and USDT annually, with a limit of $4,000; industry participants will have a transition period until March 1, 2027, to complete compliance and approval procedures.

Central Bank of Russia Releases Draft Rules for Crypto Trading Platforms and Custodians

HTX data monitoring shows that TRX has broken through 0.33 USDT, currently reported at 0.33 USDT, with a 24H increase of 0.75%.

【TRX breaks through 0.33 USDT】HTX data monitoring shows that TRX has broken through 0.33 USDT, currently reported at 0.33 USDT, with a 24H increase of 0.75%.

TRX breaks through 0.33 USDT

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TRX breaks through 0.33 USDT

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