BTC $63,580.96 +0.28%
ETH $1,887.17 -0.25%
BNB $608.00 -0.34%
XRP $1.00 -0.63%
SOL $75.91 +0.27%
TRX $0.3341 -0.47%
DOGE $0.0698 -1.31%
ADA $0.1828 +0.44%
BCH $209.17 -2.00%
LINK $8.77 +0.24%
HYPE $57.97 +2.85%
AAVE $87.98 -1.58%
SUI $0.6883 +0.46%
XLM $0.1601 +0.10%
ZEC $490.44 +1.13%
BTC $63,580.96 +0.28%
ETH $1,887.17 -0.25%
BNB $608.00 -0.34%
XRP $1.00 -0.63%
SOL $75.91 +0.27%
TRX $0.3341 -0.47%
DOGE $0.0698 -1.31%
ADA $0.1828 +0.44%
BCH $209.17 -2.00%
LINK $8.77 +0.24%
HYPE $57.97 +2.85%
AAVE $87.98 -1.58%
SUI $0.6883 +0.46%
XLM $0.1601 +0.10%
ZEC $490.44 +1.13%

x

All
Article
Flash

Garrett Jin: Hynix has rebounded to the profit-taking zone, planning to buy on Bitcoin's pullback, and be cautious of the remaining unlocks after SpaceX's short squeeze

Garrett Jin released this week's market report, characterizing the rebound in the South Korean market as a wide-ranging fluctuation rather than a new trend. SK Hynix rebounded continuously after retesting the 1.42 million won area, closing up 5.9% at 1,593,000 won. The KOSPI has risen 20% from the July low, entering a technical bull market, but foreign capital has not shifted to long-term holdings, and the drag from leveraged ETFs remains. Garrett Jin set the first profit-taking level at $1,150 (approximately 1.63 million won), with the next target at $1,300 (1.85 million won).Garrett Jin also noted that gold recorded its strongest weekly gain since January this week at +7.8%, priced at $4,388. The driving factors were a decrease of 23,000 in July non-farm payrolls and a moderate CPI that dampened September rate hike expectations. However, it is currently overbought in the short term, and a pullback could present an opportunity for incremental accumulation. Bitcoin has shown no response to the same macro-positive factors, remaining trapped between the support at $62,500 and resistance at $65,000-$70,000, with the bottom structure since $57,700 gradually being built. Garrett Jin will wait for the next buying opportunity after a pullback.Regarding SpaceX, Garrett Jin believes the recent performance is a classic case of "bad news fully priced in + short squeeze," with the unlocking itself becoming a washout rather than the starting point of a decline. However, the unlocking window has not yet ended, with an additional 319 million shares to be unlocked, approximately 700 million shares each in September and October. The current range up to $160 is a profit-taking zone rather than a high-entry zone.

Sharplink expands ETH treasury strategy, investing 200 million USD in ETH staking with Lido

According to GlobeNewswire, Sharplink (Nasdaq: SBET), an Ethereum treasury company, announced that it will stake $200 million worth of ETH through Lido, the largest liquid staking protocol on Ethereum, to enhance the yield capability of the company's ETH assets. Sharplink stated that after this staking, the company will receive wrapped staked ETH (wstETH) representing the staked ETH and its yields, which will be custodied by institutional-grade digital asset custodian Anchorage Digital.This configuration will further expand Sharplink's existing ETH staking and restaking strategies. Lido is currently one of the largest liquid staking protocols on Ethereum, with approximately $16.5 billion staked on the platform. Its wstETH token has been integrated by over 100 protocols, with about $10 billion used as collateral in DeFi. While users hold wstETH, the underlying ETH continues to earn staking rewards and can be used within the Ethereum DeFi ecosystem.Sharplink CEO Joseph Chalom stated that the introduction of Lido will further enhance the production efficiency of the company's ETH assets, leveraging the composability of wstETH while maintaining institutional-grade risk management standards. This collaboration will diversify the company's treasury strategy and connect to one of the most liquid and widely used assets in the Ethereum DeFi ecosystem. Vasiliy Shapovalov, Executive Director of Lido Labs Foundation, stated that Sharplink's increased use of Ethereum's native staking protocol and DeFi ecosystem reflects support for the Ethereum application ecosystem.
app_icon
ChainCatcher Building the Web3 world with innovations.