GM20250704

1) Market Trends

BTC is rising close to new highs, while altcoins are not performing as well.

US stocks are rising, with no interest rate cuts in July.

2) Market Highlights:

1. Gate exchange has launched 10x perpetual contracts based on on-chain US stocks, but liquidity is poor and prone to price spikes.

2. Meme tokens on the Solana chain, Penggu and Moodeng, are rising. Penggu previously applied for a US stock ETF, while Moodeng plummeted after being listed on Upbit in South Korea.

3. Small coins are experiencing a short squeeze with a shorting fee rate of -1.6%.