Benchmark raises Coinbase target price to $270

The U.S. April seasonally adjusted CPI MoM stands at 0.6%, in line with expectations, lower than the previous value of 0.90%. (Jin10) AI interpretation: The CPI data meets expectations, indicating the stability of inflationary pressure. Although there is a month-on-month decline, it remains at a relatively high level, suggesting that inflation is still a significant factor in the economy. This data will influence market expectations regarding future monetary policy, particularly in terms of interest rate decisions.

According to Businesswire, Coincheck Group announced a strategic partnership with KDDI Corporation. KDDI will subscribe for 285 million newly issued common shares at a price of $2.28 per share, with a total transaction amount of approximately $65 million. Morgan Stanley serves as financial advisor, while De Brauw Blackstone Westbroek and Simpson Thacher&Bartlett LLP provide legal services. Both parties will collaborate to expand the digital asset market, including revenue sharing and referral reward mechanisms.

[U.S. April CPI Data Recorded at 3.8%, Higher Than Expected] The U.S. announced the April unadjusted CPI year-on-year rate, recorded at 3.8%, higher than the expected 3.7%, with the previous value at 3.3%.

Nasdaq listed company TON Strategy announced its first quarter financial report for 2026, holding approximately 222 million TON as of March 31, accounting for 4.29% of the total supply, of which 221 million have been pledged, accounting for 26.18% of the total network pledge. The company recorded an unrealized loss of $879 million due to fluctuations in TON market prices, with a net loss of $910 million before tax. Additionally, the company holds $35 million in cash and restricted cash, and has no debt on its balance sheet. (Globenewswire)

According to data released by Glassnode on the X platform, long-term holders of Bitcoin had relatively unrealized losses of about 15% in early April, far below the level of over 75% in historical deep bear market cycles. According to the analysis, the pressure of the recent price pullback on long-term holders is still lower than the historical cyclical low, and the current adjustment is more inclined to medium-term volatility rather than full cyclical surrender.