Market News: Binance App Launches Up/Down Price Prediction Feature for Its Contract Trading Section

Glassnode says Bitcoin is in the late stages of bottom formation, but capitulation selling by long-term holders remains elevated, with the recent peak in realized losses approaching $280 million daily — the highest level since December 2022. Glassnode notes that this metric needs to shrink significantly for the market to credibly shift back into a bullish state. Last week, Bitcoin rebounded from $58,300 to $64,400 before pulling back to $62,700, and still trades below the short-term holders' cost base of roughly $72,200 and the True Market Mean of around $76,600. Net outflows from spot Bitcoin ETFs have narrowed but remain negative.

U.S. pre-market trading is seeing a flurry of positive catalysts for AI stocks, with U.S. equities expected to stabilize and rebound today led by South Korean heavyweight SK Hynix. 1. Micron Technology plans to invest $3 billion to strengthen its domestic U.S. semiconductor supply chain. 2. Meta Platforms plans to start producing an AI chip in September, as part of its initiative to boost total computing power to 14 gigawatts next year. 3. Starbucks is leveraging artificial intelligence to reduce its reliance on Microsoft and IBM software. 4. Meta Platforms announced it will build a C$130 billion (about $91.7 billion) data center in Alberta, Canada. 5. SK Hynix’s U.S. share offering was oversubscribed by more than 7 times. 6. Tesla’s third-generation Optimus robot has reached initial finalization, with Elon Musk setting strict mass production requirements for its supply chain. 7. Meta has signed long-term flash memory supply agreements with SanDisk and memory supply deals with Samsung to expand its AI infrastructure. 8. Bank of America noted in a research report that NVIDIA’s current valuation has fallen to its lowest level since the start of the current AI bull market, with a forward price-to-earnings ratio of just around 18x, a seven-year low.

Meta has signed long-term flash memory supply agreements with SanDisk and memory supply deals with Samsung to expand its AI infrastructure. The company plans to deploy 7 gigawatts (GW) of computing power this year and double that capacity by 2027, making locking in memory and storage supplies critical amid the ongoing chip shortage.

Aave Labs has announced the launch of Stable Vaults, opening the product to third-party developers and enterprises. Stable Vaults convert on-chain variable lending yields into fixed yields, and automatically handle cross-chain liquidity management, asset rebalancing, and yield distribution, allowing enterprises to rapidly build stablecoin yield products. According to Aave Labs, the solution is already implemented in the Aave App, and is now available for integration by wallets, exchanges, neobanks, payment companies, and fintech enterprises, while also supporting connection to any ERC-4626 yield strategy.

Stripe-owned wallet infrastructure firm Privy has partnered with Solana infrastructure company Jito Labs to launch FullSend, a transaction certainty tool. The solution routes transactions directly to current and upcoming Solana block builders via Jito’s low-latency network, cutting transaction packing latency to 50 milliseconds (compared to at least 200 milliseconds for traditional methods), and provides MEV protection by default. The tool has been operating quietly in Privy wallets since January this year, processing millions of transactions in total with a 99.999% execution success rate.

US initial jobless claims for the week ended July 4 came in at 215,000, against expectations of 218,000, while the prior week’s figure was revised from 215,000 to 217,000.