China's STAR 50 Index ETF recorded a net inflow of around 14 billion yuan on Monday, setting a new historical record.

According to market data, trading activity in GME meme tokens and GME tokenized stocks on Robinhood Crypto has driven a rapid rise in the prices of their underlying liquidity pools. The on-chain price of GME tokenized stocks once traded at a roughly 10x premium over the actual underlying stock price. Given the relevant trading pools hold only around $200,000 in liquidity, heavy buying pressure pushed prices to deviate sharply from the spot level. Currently, mint and burn permissions for GME tokenized stocks are restricted to Authorized Participants (APs) and market makers that have completed Know Your Business (KYB) verification. On-chain data shows the official mint address is continuously issuing additional tokens to inject market liquidity; the latest records indicate new mint transactions occur nearly every minute, aimed at easing the premium and guiding prices back to their fair value.

Kazakhstan’s government has approved the "Implementation Rules for Strategic Digital Mining", allowing eligible enterprises to secure power quotas for up to 10 years at a capped electricity price. In exchange, participating firms must transfer a portion of their mined crypto assets to the Astana Hub Autonomous Cluster Fund, which is managed by the National Investment Company under Kazakhstan’s National Bank to bolster the country’s strategic crypto reserves. Under the new regulations, digital mining operators must submit applications via the E-licensing system, gain approval from a special committee, sign an agreement with Astana Hub within 5 working days, and finalize a power purchase contract with a power generation company to participate in the strategic digital mining program.

Crypto news outlet BlockBeats recently announced the completion of a team merger with on-chain data tracking platform HyperInsight. HyperInsight specializes in monitoring data from global popular capital markets including on-chain U.S. stocks, crypto assets, and commodity futures, offering services such as large whale address activity monitoring, suspicious insider address analysis, and on-chain TradFi information. This merger will further strengthen BlockBeats' footprint in the cross-market on-chain data space. Following the merger, HyperInsight's on-chain data capabilities will be fully integrated into BlockBeats Pro, BlockBeats' paid subscription service, to deliver cross-market information covering crypto and TradFi, as well as real-time tracking of on-chain activities by top traders.

U.S. Central Command said that as of 22:30 ET on July 22 (10:30 Beijing time on July 23), U.S. military forces have launched a new round of strikes against Iran for the 12th consecutive night. The targets of this operation include Iran's maritime combat capabilities, missile and drone storage facilities, coastal surveillance sites, and air defense assets. The U.S. side stated that the strikes further weakened Iran's ability to attack civilian crew members and merchant ships. (Jinshi)

According to Hyperinsight monitoring, as of press time, SPCX on Hyperliquid is trading at around $116, down 49.6% from its peak of $230 and 14.1% below its IPO price of $135. Today, it hit a low of $114.48, with the underperformance widening to 15.2% at one point. The largest long whale, whose address starts with 0x3527, first opened a position on July 16, nearly seven days ago. Since then, it has been averaging down by adding positions daily without any reduction, accumulating a position of 111,700 units, with a cumulative notional position value of around $14.196 million. Currently, the whale holds a full-position long on SPCX with 20x leverage, at an average price of $127.1, with a position value of approximately $12.958 million. It has an unrealized loss of about $1.238 million, a return of -174.5%, meaning the loss has exceeded the initial margin of this position. Calculated based on margin, the theoretical liquidation line is around $113.06, only about $2.94 away from the current price. However, this address has enabled portfolio margin, with 301,900 HYPE (including roughly 60,000 added recently) included as collateral to jointly support SPCX’s losses. The risk is that when HYPE and SPCX decline simultaneously, both collateral value and position equity shrink, and once the threshold is triggered, the system may liquidate the HYPE collateral. All positions held by this address, including SPCX and CRCL, are long positions, with SPCX accounting for around 72% of the total position value, making it a typical high-leverage one-sided long. No stop-loss or position-reduction orders have been placed in the account, and there are no closed position records since the address first opened a long position seven days ago.

According to Hyperinsight’s monitoring, the GOOGL bull address (0xC8b) disclosed last night continued to add to its position after the report. From 10 PM on July 22 to 4 AM today, it opened a total of 38,800 GOOGL long contracts, worth approximately $13.5578 million, at an average price of $349.28; it added about $2.8978 million to its position since the disclosure. After Alphabet’s earnings report was released, the whale began reducing its position at 5:43 AM today and closed all the aforementioned long positions 2 hours ago at $330.29, posting a loss of $737,000. Alphabet’s Q2 revenue rose 24% year-over-year, while Google Cloud revenue jumped 82% YoY; however, the company raised its full-year capital expenditure guidance from $180-$190 billion to $195-$205 billion, leading its stock to briefly turn negative in after-hours trading. As of press time, GOOGL contracts on Hyperliquid are trading at $334.27, down 4.34% on the day. The whale previously booked a profit of about $1.7178 million from its prior MU long positions. Currently, its only position has shifted back to MU: it holds 24,600 long contracts with 3x leverage, worth approximately $23.9561 million, at an average entry price of $977.60, with an unrealized loss of about $97,900 and a liquidation price of $354.91.