Gate Crypto Flash News and Market Updates

According to CryptoQuant analyst Darkfost on June 30, approximately 84% of altcoins on Binance are trading below their 200-day moving average, a condition that has persisted for nearly eight months. This marks the second longest weakness cycle since 2020, second only to a roughly ten-month downturn during the previous bear market. The Total 3 index, which tracks altcoin market cap excluding Ethereum, has confirmed a weekly close below its 200-day moving average.

According to Coinglass data monitored by ChainCatcher, 100 million USDT were transferred from Binance to an unknown wallet on June 30 at 11:23 UTC.

According to BlockBeats, Allegro MicroSystems (ALGM) surged 14.7% to $66.37 on June 30, touching an intraday record of $67.41. Mizuho Securities analyst Vijay Rakesh raised the company's price target from $54 to $67 while maintaining an "outperform" rating, citing strong demand for current sensors, fan drivers, and power semiconductors driven by AI server buildouts. TD Cowen also elevated Allegro to a top pick among mid-cap stocks with a $70 price target. Both firms cited data center operations

According to BlockBeats, on June 30, Situational Awareness LP, the fund led by 25-year-old Leopold Aschenbrenner, disclosed a 13G filing showing it holds a 19.9% stake in SharonAI Holdings (SHAZ). The filing lists both Aschenbrenner and Carl Shulman as filers. Per Bitget market data, SHAZ shares rose 14.07% overnight to $92.40.

According to Prisma's portfolio expert Amanda Ng, on June 30, advanced packaging, semiconductor substrates, and high-end printed circuit boards (PCBs) are emerging as critical bottlenecks in AI supply chain investments, rather than focusing on mainstream AI platforms or chipmakers. Though these components account for a relatively small portion of AI's total bill of materials, modest price increases in these products could significantly boost manufacturers' profitability while remaining affordabl

According to Xinhua News Agency, China's first 550-megawatt F-class gas turbine project, operated by China Huadian in Tongan, Chongqing, achieved full-capacity operation on the morning of June 30. The project comprises two 550.12-megawatt combined-cycle gas and steam turbine units with a total installed capacity of 1,100 megawatts and expected annual power generation of 2.1 billion kilowatt-hours, sufficient to meet annual electricity demand for approximately 1.75 million households. The project

According to Fount Media, Japanese Prime Minister Sanae Takagi issued a directive on June 30 to accelerate the development and commercialization of rare earth extraction from seafloor sediments at Minami-Tori Island, targeting 2027 for operational deployment. The Japan Agency for Marine-Earth Science and Technology successfully collected rare earth-bearing sediments from depths of approximately 6,000 meters in February 2026. The planned extraction scale aims to reach 350 metric tons or more of c

According to Goldman Sachs, memory chip suppliers face three key challenges last week, with Micron's prospects particularly pressured. Goldman Sachs trader Ippei Yamaura identified the risks as: HBM pricing momentum weakening amid rising production capacity in 2027-2028, intensifying competition from Chinese chipmakers including Long Semiconductor, and signs of cooling AI server spending. The analyst noted Apple is lobbying the U.S. government to approve purchases from Long Semiconductor to ease

According to Foresight News, Adjacent, a prediction market index construction protocol, completed a $2.5 million Pre-Seed funding round. Investors include Night Capital, VanEck, UFO Holdings, Maven 11, and DCG.

According to Nikkei, AST SpaceMobile (ASTS) stock jumped 21% to $86.77 on Monday (June 29) as Japan's government announced 150 billion yen ($926 million) in subsidies to a Rakuten Group-led consortium developing a satellite communications network with AST SpaceMobile. The subsidy will fund equipment procurement, ground facilities, and systems needed to launch and control low Earth orbit satellites over three years, with a formal decision by Japan's Ministry of Internal Affairs and Communications

According to Bank of Communications, on June 30 the bank announced it will close personal trading services for precious metals on Shanghai Gold Exchange starting July 24. The closure affects seven contract types: Au99.99, Au100g, Au99.95, PGC30g, Au(T+D), mAu(T+D), and Ag(T+D). After the closure, customers with open positions or physical inventory will be unable to close positions, sell, or withdraw holdings through mobile banking or online banking channels.

According to Guru Club, Meituan released LongCat-2.0 on June 30, a 1.6 trillion-parameter foundational model trained entirely on domestic infrastructure. The test version has achieved the third-highest total call volume on OpenRouter globally, with performance comparable to Claude Opus 4.6.

According to Goldman Sachs strategist Ben Snider on June 30, S&P 500 companies are expected to report 22% earnings growth in the second quarter, with Nvidia and Micron contributing approximately 40% of total earnings growth. AI infrastructure-related stocks are projected to account for nearly 60% of overall S&P 500 earnings gains during the period.

According to Polygon, the network processed approximately $80 billion in stablecoin transfer volume in May, claiming it overtook both Solana and BNB Chain in stablecoin settlement activity during the period. Stablecoin transfers represent a key measure of real blockchain utility and adoption, as they reflect actual value movement across networks independent of price speculation or token narratives.

According to BlockBeats, on June 30, Samsung Electronics and SK Hynix reached a record combined weight of 60% in South Korea's KOSPI index (benchmark equity index), up from approximately 40% two years ago. The concentration surge, driven by global AI enthusiasm, exposed structural fragility in the Korean stock market's tolerance for volatility. Regulators halted KOSPI trading twice last week following a sharp market decline to stabilize investor confidence.

According to ChainCatcher, OKX launches Bittensor (TAO/USDT) spot trading today at 20:00 UTC. Users can begin depositing from 11:00 UTC and place advance orders between 19:00 and 20:00 UTC, with withdrawals opening at 22:00 UTC.

According to on-chain analyst Ai姨, smart money account yixie10 profited $1.113 million through a 2x leveraged long position in SKHX (SK Hynix) as of June 30. The account currently holds a $3.94 million position with an entry price of $1,239.9 and current price at $1,725.9.

According to BlockBeats, Upbit launched Gensyn (AI) spot trading on June 30, supporting trading pairs in Korean won, BTC, and USDT.

According to BlockBeats, on June 30, X launched a hosted MCP service allowing AI agents to access real-time platform data without complex configuration. Developers can now connect AI tools including Grok, Cursor, and other MCP-compatible applications to X's API and developer documentation using xurl and document search features. X has provided two MCP servers to streamline AI integration and help developers build applications with real-time content from the platform.

According to Huobi HTX announcement reported by BlockBeats, WOJAK/USDT spot trading will open on June 30 at 17:00 (GMT+8). Deposit services for WOJAK began at 11:00 (GMT+8) on the same day. Withdrawal services will open on July 2 at 17:00 (GMT+8).