US-listed cryptocurrency-related concept stocks rose across the board in pre-market trading, with CRCL up 3.53%.

As internal rotation within the U.S. stock AI sector intensifies, Morgan Stanley and UBS have offered divergent views on the next phase of AI investment trends. Morgan Stanley believes capital is shifting from the previously sharply rallying semiconductor sector to large-scale cloud service providers such as Microsoft, Amazon, and Meta. The AI rally is not over; instead, it has entered a sector rotation phase. UBS, by contrast, is more optimistic about the long-term value creation capacity of AI infrastructure. Its Holt team projects that the profitability of memory chip firms including Samsung Electronics, SK Hynix, and Micron will continue to improve. The economic profit of the AI infrastructure sector is expected to surge from around $200 billion in 2023 to $1.4 trillion in 2027, a roughly 600% increase, while the economic profit of large cloud service providers is forecast to reach only around $400 billion over the same period. UBS contends that the memory chip industry is transitioning from a traditional cyclical sector to one of the most important value creators in the AI industrial chain.

According to monitoring by Onchain Lens, a BlackRock address recently transferred 2,265.685 BTC to Coinbase, valued at approximately $142.45 million. Over the past six days, BlackRock has cumulatively transferred 22,624.685 BTC to Coinbase, with a total value of around $1.42 billion.

On-chain detective ZachXBT has posted that over the past week, multiple unauthorized individuals have launched meme coins using his likeness across multiple public blockchains to capitalize on market hype. He stressed that he has never promoted or issued any meme coins, and has publicly stated he will not support or launch such projects. ZachXBT said all related tokens sent to his donation wallet have been sold on the market, and the roughly $41,000 in proceeds has been fully donated via The Giving Block to GiveDirectly and Direct Relief to support Venezuela earthquake relief efforts. The donations include 25,000 USDT to GiveDirectly and 5,000 USDT to Direct Relief on July 6, plus an earlier contribution of 153 SOL (worth approximately $11,000).

Serenity shares Kelper’s latest research report, which upgrades semiconductor foundry XFAB to a "Buy" rating. The report notes that Melexis’ demand is continuing to improve, and demand for silicon carbide (SiC), gallium nitride (GaN) and photonic chips spurred by AI is expected to offset cyclical fluctuations in the automotive sector. Western niche specialty foundries are also commanding higher valuation premiums, per the report. Data shows XFAB’s current 2027 EV/EBITDA multiple is just 4.8x, significantly below the peer median of 14.5x. Serenity says this signals XFAB’s core fundamentals are improving, though it is more optimistic about the growth potential of photonic chips that the market has not yet fully priced in. It points out that XFAB leads the EU’s PhotonixFAB project, which aims to build Europe’s silicon photonic industrial chain and advance large-scale manufacturing of photonic chips. The project is poised to benefit from rising data center optical communication demand driven by AI giants like NVIDIA. However, as relevant commercial orders have not yet landed on a large scale, traditional valuation models still struggle to capture this long-term growth logic.

According to CryptoQuant data, Bitcoin has fallen roughly 28% year-to-date. Its 365-day rolling Sharpe Ratio once dropped to around -21, the lowest level since the end of 2022, and remains near -20 currently. The Sharpe Ratio gauges an asset’s risk-adjusted return performance. A negative value means investors have taken on higher volatility risk while actual returns are lower than risk-free assets like 10-year U.S. Treasuries. Against the current U.S. Treasury yield of approximately 4.45%, this metric reflects that Bitcoin’s risk-return performance over the past year has clearly worsened. However, CryptoQuant points out that historically, such extreme negative Sharpe Ratio levels often signal market selling pressure is nearly exhausted. Similar levels appeared near Bitcoin’s bear market bottoms in 2015, 2019, and 2022, all followed by the start of a new upward cycle for the cryptocurrency.

According to market sources, SK Hynix is expected to generate net proceeds of approximately $28 billion from its U.S. IPO.