Data: Huang Licheng went long on 5.9 million USD ETH at an average price of 1640 USD

SpaceX's IPO is a math problem, and the answer is not on the pricing day, but in the first quarter after the lock-up period ends.

The sudden removal of the two models has caused widespread shock in the tech industry and the AI community.

The tokenization of financial assets is moving from pilot projects to large-scale implementation, but this is a gradual evolution rather than a fierce revolution.

Tech giants like SpaceX and OpenAI have sparked a $35 trillion super IPO wave. The "suction effect" is not enough to crash the stock and crypto markets, but the test of high valuations is just beginning.

Overview of Important Market Events on June 11

Most companies spend years creating network effects on traditional infrastructure. Crypto founders inherit them as starting conditions.

There is more and more to do.

The value of tokenized products ultimately depends on whether the underlying structure is sound, rather than just the price displayed on the interface.

The SpaceX IPO is short-term "capital competition" for the cryptocurrency market, while in the medium to long term, it leans towards "narrative endorsement" for Bitcoin.

What is driving the massive demand for the SpaceX IPO, and why did BlackRock place a $5 billion order? Learn how the historic listing could impact SpaceX stock, Bitcoin, SPCX, and crypto markets.

Overview of Important Market Events on June 10

The Bitcoin L2 star project Botanix announced a gradual shutdown, with the team admitting to facing severe challenges from the failure of its business model and the prevailing trends. Users are urged to withdraw all assets before July 9, 2026.

Oracle's revenue for fiscal year 2026 set a record, with AI cloud orders soaring to $638 billion, but massive capital expenditures on computing power led to negative free cash flow, causing a 5% drop in after-hours stock prices.

The largest Bitcoin money laundering case in the UK has new developments: 16,000 Chinese victims are pursuing 61,000 seized Bitcoins across borders, and the dispute over the applicability of UK and Chinese laws will directly determine whether the victims can share in the soaring profits.

How to reconstruct the prediction market using leverage?

Solana did not fall behind during the bear market. Trading enthusiasm has waned, but the network is more stable, RWA and stablecoins are expanding, and the capital foundation is much thicker than in the previous cycle. The real question is: when the speculative tide recedes, can perpetuals, predicti...

The South Koreans' average of two accounts for wildly gambling in the chip bull market reflects the survival anxiety and harsh reality of countless young people trying to break through class barriers behind the nationwide stock trading frenzy for wealth.

SpaceX's equity update has sparked controversy over on-chain liquidations. Trade.xyz refuses to reset the SPCX pricing, and the lack of a Rebase mechanism in Perp DEX has led to a significant trust test for on-chain Pre-IPO assets.