GM20250617

1）Market Trends

BTC is rising, altcoins are generally increasing. MicroStrategy bought 10,000 BTC last week.

U.S. stocks are rising. Stablecoin Circle's U.S. stock surged to $35 billion.

2）Market Highlights：

1. SPK on BN. Spark Protocol is a decentralized lending platform launched by MakerDAO, providing DeFi loans and sourcing liquidity directly from Maker.

2. The public chain TRX seeks to go public on the U.S. stock market, holding 28% of the stablecoin supply. Related U.S. stock SRM skyrocketed several times, and its recent performance has significantly outpaced altcoins.

3. On-chain contract platform Hype reached a new high, with a market cap of $45 billion, accounting for 85% of the on-chain contract market share. The long position fee rate for Hype contracts is relatively high, indicating a greedy market sentiment.

4. Small coins ALT, MAGIC, and HAEDAL are rising on Upbit, South Korea.

5. Meme launch platform Pumpfun has a pre-market valuation of $7 billion.