Global TradFi & Macroeconomics

April 13, XAU is currently quoted at $4,717.28, down 0.56% over the past 24 hours. Geopolitical developments have affected trading activity, driving fluctuations in volume. Total trading volume for XAU futures across the entire network reached $1.34B, up 504.45% month-over-month. Liquidity on centralized exchanges is mainly concentrated on three leading platforms.

Taiwan’s solar power giant, United Renewable Energy, has seen its stock price swing sharply recently. After the National Development Fund announced changes to its holdings, selling pressure was triggered, pushing the shares to a daily trading halt. The fund’s exit is seen as a signal that policy is easing. Combined with news about the restart of nuclear power, it increases short-term selling pressure. United Renewable Energy emphasized that this is a phased exit, and expressed gratitude to its shareholders for their support.

SigmaIntell predicts that global DRAM prices will continue to rise in 2026 Q2, but the rate of increase will slow significantly to 30% to 50%. Driven by strong AI demand and weakening consumer electronics demand, the DRAM market is being restructured, and the supply-demand shortfall is widening. Although AI server demand is forecast to grow year over year by as much as 105%, demand for traditional consumer products is falling, so the overall supply-demand balance will shift from a surplus in 2025 to a shortage in 2026.

Bitmine rose to the NYSE main board on April 13 and increased its share repurchase authorization from $1 billion to $4 billion to support its stock price. Chairman Tom Lee said that U.S. stocks may have already bottomed out because the Iran-Iraq ceasefire agreement eased geopolitical risks and because the fundamentals of ether (ETH) have improved. Bitmine holds about 4.8 million ETH, and each 1% increase brings roughly $100 million in asset appreciation.

A whale-sized investor was already down $345k when betting that the Iranian regime would collapse on June 30, and the prior investment also failed. The market’s judgment rules are strict, and only under specific conditions is a regime collapse recognized; ordinary regime change is not considered.

The Government of the Hong Kong Special Administrative Region signed a cooperation memorandum with the National Internet Information Office to advance technological innovation and support the high-quality development of the digital economy, covering areas such as artificial intelligence and blockchain, with the aim of implementing the country’s “15th Five-Year Plan.” Lee Ka-chiu said it will deepen cross-border data cooperation within the Guangdong-Hong Kong-Macao Greater Bay Area.

Gate News message. According to Gate’s official announcement, Gate contract stock section will be launched on April 13, 2026 at 14:00 (UTC+8) with live trading of TENCENT (Tencent Holdings 00700.HK), XIAOMI (Xiaomi Group 01810.HK), MEITUAN (Meituan 03690.HK), KUAISHOU (Kuaishou 01024.HK), and HKEX (Hong Kong Exchanges and Clearing 00388.HK) perpetual contracts. The trading will use USDT settlement and support 1–20x long and short operations. Among them, the TENCENT contract is based on Tencent Holdings, the XIAOMI contract is based on Xiaomi Group, the MEITUAN contract is based on Meituan, the KUAISHOU contract is based on Kuaishou, and the HKEX contract is based on Hong Kong Exchanges and Clearing; the price of each contract is denominated in USDT.

SpaceX's commitment to its Bitcoin reserves, despite significant losses, signals a potential wave of corporate adoption, according to SkyBridge Capital's Anthony Scaramucci. The upcoming IPO will require public disclosure of its $603 million Bitcoin position.

Gate News update. On April 13, Iranian Islamic Consultative Assembly lawmaker Seyed Mahmoud Nabaviyan, who took part in negotiations between the United States and Iran, posted on social media on April 12 listing three demands put forward by the United States, and then deleted them. The three demands are: The U.S. demanded that the benefits from the Strait of Hormuz be jointly shared with Iran; the U.S. demanded that all highly enriched uranium with a concentration of 60% be shipped out of Iran; and the U.S. demanded that Iran not carry out uranium enrichment activities during the next 20 years.

U.S. Central Command confirms that, starting April 13, it will impose a maritime blockade on Iranian ports, while international shipping through the Strait of Hormuz is not affected. WTI crude oil prices break above $105, and Bitcoin falls back to around $71,000, with global energy and crypto asset markets responding in sync.

A single address on the Hyperliquid platform held a $73.05 million crude oil short position in a day; its floating profit of $5.89M turned into a floating loss of $2.10 million. Of this, the CL and BRENTOIL short positions were down $1.4M and $620k respectively. The address became the largest leveraged position in BRENTOIL.

According to SoSoValue data, from April 6 to April 10, SOL spot ETF net outflows totaled $5.62 million, with the Grayscale GSOL trust having the largest outflow at $2.6893 million. Invesco & Galaxy Digital's QSOL recorded net inflows of $0.2470 million. Currently, the total net asset value of SOL spot ETFs is $828 million.

Gate News: According to the latest Gate TradFi data, VIX (VIX) has surged by 3% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

Last week, spot Ethereum ETFs recorded net inflows of $187 million, among which BlackRock’s ETHA had the largest net inflow, reaching $168 million. Fidelity’s FETH saw net outflows of $62.1274 million, with total net asset value of $12.96 billion.

The Hungarian opposition Tisza Party beat Viktor Orbán in the parliamentary election, ending his 16 years in power. It is expected to roll back the tough cryptocurrency regulatory measures imposed under the Orbán government and restore relations with the European Union. The new government taking office may also allow global financial platforms such as Revolut to return to the market, and it will further accelerate the EU’s process of unifying digital assets.

Trump said that because of Iran’s actions in the Strait of Hormuz, the United States will impose blockade measures, and the world’s reliance on American oil will deepen. He emphasized that U.S. oil reserves have increased significantly, and ships no longer need to pass through the Strait of Hormuz.

TSMC’s earnings call is about to be held. Expert Wan-Chun Shen emphasized that investors should focus on technology trends rather than short-term EPS, and that AI demand is making advanced packaging a key factor. In the future, technologies such as 3D stacking and FOPLP are expected to break through bottlenecks. Investors should focus on TSMC and related stocks in advanced process equipment and advanced packaging technology to seek long-term returns.

Gate News message, April 13, according to Gate Market data, Hong Kong stock market’s “Token first stock,” Xunce(03317.HK), rose more than 20%, with a cumulative gain of over 625% year to date.

On April 13, the precious metals market was under pressure, with gold and silver prices falling by 0.86% and 1.70%, respectively. The crypto market volatility index rose, the U.S. dollar against the Chinese yuan and the yen edged up, crude oil prices surged significantly, with WTI up 8.99%. The Gate platform supports trading a variety of traditional financial products.

Gate News: According to the latest Gate TradFi data, JPN225 (Nikkei 225) has dropped by 1.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market