24H Hot Tokens & Headlines｜SK Hynix Reports Q2 Earnings; Musk's Net Worth Nearly Halved from Peak (July 29)
- Key Insights: This article systematically summarizes the key dynamics in the blockchain and financial markets from July 27-28, 2025, covering CEX hot token price movements, SK Hynix's disappointing earnings report, Musk's shrinking wealth, the US Senate's push for a Clarity bill vote, as well as technical progress and events for projects like Solana and Hyperliquid.
- Key Elements:
- CEX Market: Major tokens like BTC, ETH, and XRP saw slight gains, with BNB up 1.06%; BANK and SNDKB dropped 44.01% and 13.01% respectively. ZIL led OKX's 24-hour gainers with a 17.58% increase.
- SK Hynix Earnings: Q2 operating profit reached 60.5 trillion Korean Won, with revenue falling short of expectations. The company stated it sees no signs of an AI investment slowdown, plans to expand HBM4 supply in the second half of the year, and expects DRAM demand to grow by 20%-30% in 2026.
- Regulatory Developments: US Senate Republicans aim to push for a procedural vote on the Clarity bill before the August recess, with Coinbase CEO urging progress. The bill seeks to establish a federal regulatory framework for digital assets and has garnered support from BlackRock, Goldman Sachs, and others.
- Solana Network Upgrade: Plans to increase the mainnet block computation limit from 60 million CU to 100 million CU (an increase of approximately 66%) within 24 hours, with the upgrade expected to take effect at Epoch 1009.
- Project Events: Hyperliquid co-founder responded to the SK Hynix quote anomaly on Trade.xyz, stating that the related contracts were deployed and operated by the XYZ team, and an investigation is underway.
1. Popular Coins on CEX
CEX Top 10 Trading Volume & 24h Change:
- BTC: + 1.42%
- ETH: + 2.09%
- AERO: -1.02%
- BANK: - 44.01%
- SOL: + 0.83%
- XRP: + 2.20%
- SNDKB: - 13.01%
- DEXE: - 4.33%
- ZEC: - 1.71%
- BNB: + 1.06%
24-Hour Gainers (Data source: OKX):
- ZIL: +17.58%
- CSPR: +14.04%
- FLOW: +9.37%
- ADA: +7.9%
- CARDS: + 7.79%
- OL: + 6.45%
- MENGO: + 6.39%
- PROS: + 6.25%
- JUP: +6.1%
- WET: + 6.09%
24-Hour Crypto-Equity Gainers (Data source: msx.com):
- SKDD: 14.62%
- MPU: 13.28%
- SOXS: 12.32%
- CLS: 9.99%
- SKHZ: 9.22%
- TER: 7.99%
- AMC: 6.37%
- MIAX: 5.8%
- FIG: 5.49%
- CCXI: 5.47%
2. Popular On-Chain Memes (Data source: GMGN):
- Solana: FRANK, BNUT
- BSC: MarsCoin, BiYou
- Robinhood: PIPEDOG, CASHCAT
Headlines
SK Hynix Q2 Operating Profit Hits 60.5 Trillion Won, Revenue Misses Expectations
Odaily Planet Daily News: SK Hynix reported its second-quarter results, with an operating profit of 60.5 trillion Korean Won, below the market consensus of 64 trillion Won. Revenue stood at 79 trillion Won, also missing the expected 84 trillion Won.
The company stated that the average selling price of DRAM in Q2 increased by about 30% compared to Q1. It expects Q3 DRAM shipments to grow roughly 10% quarter-over-quarter and plans to expand HBM4 supply in the second half of the year.
SK Hynix forecasts DRAM market demand growth of 20%-30% year-over-year in 2026 and NAND market demand growth of 10%-20%. It also plans to raise its 2026 capital expenditure to the high end of the 40 trillion Won range.
Musk's Net Worth Nearly Halved from Peak, But Still Exceeds 700 Billion Dollars
Odaily Planet Daily News: Since SpaceX's stock price peaked in June, Elon Musk's wealth has lost approximately 650 billion dollars. Tesla and SpaceX stock prices continue to decline. However, even after the significant drop, Musk's net worth remains over 700 billion dollars. Investors are still watching whether AI-driven growth can support these high valuations.
trade.xyz Will Fully Compensate for Liquidation Losses Caused by Abnormal SKHYNIX Pricing
Odaily Planet Daily News: trade.xyz announced on platform X that at 23:01 UTC on July 27, the SKHYNIX mark price dropped from 1127.9 USD to 917.25 USD. This price was based on an executed trade and forwarded by multiple independent data providers. The XYZ oracle was operational for external pricing, tracking this platform, a major pre-market trading venue in South Korea. The oracle system operated according to its specifications. trade.xyz stated that although the system functioned as designed, users were dissatisfied with the liquidations triggered by this anomaly. Trade[XYZ] has decided to compensate for the liquidation losses attributable to this anomaly. Eligibility requirements will be announced soon, and distribution is expected to be completed within the next few days. This decision is a one-time discretionary measure and does not guarantee similar future actions. trade.xyz also stated it will further improve its pricing system to handle tail events and expedite the review of price formation methods, including reassessing assumptions related to external trading venues and considering price formation within its own order book.
U.S. Senate Aims for Procedural Vote on Clarity Bill Before August Recess
Odaily Planet Daily News: U.S. Senate Republicans hope to push the Clarity Act to a procedural vote before the August recess, but face obstacles including a tight legislative schedule, wavering votes from some Republican senators, and Democratic concerns over the Trump family's crypto profits. The bill's fate depends on votes from moderate Democrats. However, progressive Senator Elizabeth Warren warns that supporting the bill would compromise with special interests and potentially benefit the Trump family. The core dispute remains over ethics clauses. Democrats demand restrictions on Trump profiting from crypto businesses. Arizona Senator Ruben Gallego is working with North Carolina Republican Senator Thom Tillis on a counter-proposal that would incorporate a mechanism for joint enforcement by state attorneys general and the Department of Justice.
Industry News
Correlation Between US Tech Stocks and South Korean Stocks Hits Highest Level Since 2021
Odaily Planet Daily News: According to data from asset manager Rayliant, the 60-day correlation between the KOSPI index and the Nasdaq 100 has recently climbed to around 0.50, the highest level since 2021. Market participants warn that this tighter relationship also brings risks, as the rising correlation erodes the diversification and hedging benefits investors traditionally sought by holding both US and South Korean stocks. (Cailianshe)
South Korean Mortgage Rates Rise to Highest in Over Two and a Half Years
Odaily Planet Daily News: According to Yonhap News, data released Tuesday by the Bank of Korea showed that bank household mortgage rates rose for the second consecutive month due to rising market interest rates, reaching their highest level in two years and seven months. The data showed the average interest rate on new bank loans was 4.31% last month, up 0.12 percentage points from the previous month. Corporate loan rates rose 0.14 percentage points to 4.27%, while new household loan rates rose 0.04 percentage points to 4.5%. In June, the average rate for household mortgages rose 0.04 percentage points to 4.36%, the highest since November 2023. The average rate for non-mortgage household loans was 5.72%, up 0.23 percentage points from the previous month. The Bank of Korea stated that retail lending rates have been rising steadily in recent months due to rising market interest rates. Earlier this month, the Bank of Korea raised interest rates for the first time in three and a half years.
Three South Korean AI Chip Unicorns Adjust IPO Plans, Combined Valuation ~9.25 Trillion Won
Odaily Planet Daily News: South Korean AI chip companies Rebellions, FuriosaAI, and DeepX have adjusted their IPO-related plans. Rebellions has moved its KOSPI listing target to the first half of next year. FuriosaAI is aiming for the second half of 2028, while DeepX is targeting 2027-2028.
The three companies are respectively pushing forward with Pre-IPO and Series D funding rounds. Based on assessments, Rebellions is valued at 3.4 trillion Won, FuriosaAI at about 3 trillion Won, and DeepX at approximately 2.85 trillion Won.
Last year, the three companies' revenues were approximately 320 billion Won, 57 billion Won, and 33 billion Won respectively. Relevant mass production and customer orders include Rebellions’ next-generation chips like Rebel 100 and Renegade.
SK Hynix: No Signs of AI Investment Slowdown, Will Solidify HBM Leadership
Odaily Planet Daily News: During an analyst conference call, SK Hynix stated that it has not yet seen any signs of an AI investment slowdown and expects AI infrastructure investments to remain robust even after 2027.
The company said that long-term supply agreements will not lead to oversupply. These agreements are typically for 5-year terms, with terms varying by customer. SK Hynix stated it will further solidify its leading position in HBM through long-term agreements.
SK Hynix expects bit shipment growth in the second half of the year to be higher than in the first half. Product mix affected the average selling price in Q2. The company is currently on track for mass production of HBM4E starting in 2027.
Apple Becomes Second Company to Surpass $5 Trillion Market Cap
Odaily Planet Daily News: Apple (AAPL.O) has become the second company in history to reach a market capitalization of $5 trillion. On Tuesday, Apple's stock price rose up to 1.8% to $342.89, pushing its market cap above $5 trillion for the first time. The stock has since pulled back somewhat. If its closing price exceeds $340.43, it will definitively break through this threshold.
Previously, Nvidia (NVDA.O) closed at a record market cap of $5.7 trillion on May 14, but its market cap has since lost about $1 trillion. Apple (AAPL.O) is currently the largest company by market cap in the S&P 500. (Jin Shi)
Amazon Restructures AI Strategy, Will Phase Out Most of Its Flagship Models
Odaily Planet Daily News: According to sources, Amazon (AMZN.O) is undergoing a major restructuring of its AI strategy, phasing out many internal models, reorganizing teams, and concentrating engineers on a new strategy to compete on the frontier. This restructuring indicates Amazon is refocusing its AI efforts. Instead of spreading resources across multiple text, image, and video models, the company is concentrating engineering talent and limited computing resources on its highest-priority projects.
According to sources, Amazon is gradually winding down most of its flagship models, including the high-end Premier and Omni models, the Reel video generation model, and the Canvas image generation model. Some Amazon employees have described these models as being in a "KTLO (Keep The Lights On)" state. According to sources, resources are gradually shifting from the existing Nova models to a new frontier model project led by researcher Peter Abell, internally called "Frontier Model Research" (FMR), which has become the company's top priority this year. Under this mission, Amazon is developing a completely new flagship foundation model expected to be unveiled at the annual re:Invent conference this fall. (Business Insider)
SpaceX Down 20% from IPO Price, Market Cap Evaporates $1.2 Trillion from Peak
Odaily Planet Daily News: As investors flee from risk-on bets on high-tech companies, SpaceX (SPCX.O) shares have fallen 20% from their IPO price. Space was down over 5% in early Tuesday trading, at around $107, extending a sharp decline from highs seen days after its IPO last month. Its market cap has evaporated $1.2 trillion from its peak on June 16, marking one of the largest market value destructions in history.
Recently, a complex geopolitical landscape and concerns about supply-demand dynamics and valuation inflation driven by massive spending in the AI ecosystem have severely impacted many large players in the industry. SpaceX investors are also watching for the potential impact of the lock-up expiry for 911.5 million shares worth $116 billion on August 6. (Jin Shi)
Coinbase CEO Urges US Senate to Advance CLARITY Act Vote
Odaily Planet Daily News: Coinbase CEO Brian Armstrong urged the U.S. Senate to advance the CLARITY Act vote in a post on platform X on July 27, stating the bill was formed through years of bipartisan negotiations. Armstrong said the CLARITY Act would strengthen enforcement powers, introduce new consumer protections, and provide a federal regulatory framework for the digital asset industry. He stated that the U.S. currently has no federal law protecting consumers or supporting the development of the industry within the country. U.S. Senate Republicans released an updated version of the CLARITY Act text on July 22, covering disclosure standards, registration requirements, anti-fraud provisions, and expanded anti-money laundering obligations for digital asset market participants. BlackRock, Fidelity Investments, Charles Schwab, and Goldman Sachs CEO David Solomon have supported the bill.
Project News
Solana Proposes Increasing Mainnet Block Compute Limit by 66% to 100 Million CU
Odaily Planet Daily News: SolanaFloor posted on platform X that Solana plans to increase the mainnet Block Compute Limit from 60 million CU to 100 million CU within 24 hours, an increase of approximately 66%. The related upgrade, SIMD-0286, is expected to activate at the start of Epoch 1009.
Odaily Planet Daily News: Hyperliquid co-founder iliensinc responded to the abnormal SK Hynix quote on trade.xyz this morning. He stated that Hyperliquid is a permissionless blockchain, allowing different teams to deploy and operate markets based on its infrastructure. The specific xyz:SKHYNIX perpetual contract was deployed and operated by the XYZ team. The XYZ team is currently investigating the situation and will provide updates once a conclusion is reached.
He also explained that under HIP-3, the market deployer is responsible for providing data such as the mark price, oracle price, and external perpetual contract price. Using the pricing mechanism of a similar BTC perpetual contract as an example, the protocol uses the median of the latest on-chain trade price, best bid, and best ask as one of three price components. The other two prices are provided by the deployer, and all three together influence the final mark price.
Odaily Planet Daily News: Lighter founder Vladimir Novakovski published an article on X this morning titled "Equity vs. Token."
In the article, Novakovski clarified that all economic value generated by Lighter will belong to the token holders.
Lighter's original intention was to bootstrap the project with venture capital until the moment of the token generation event. Lighter is a U.S. company with a single entity – the entity that issued equity in the years leading up to the TGE is the same entity that issued the token at TGE. Apart from the equity cap table converting into a token cap table at TGE, the equity cap table serves no further function in the future.
More specifically, Lighter completed its final equity financing round a few months before TGE. This round was approximately 5 times oversubscribed, attracting over
