Arthur Hayes: AI foam is most likely to burst in 2028

[TAIKO's 24-hour trading volume has increased to 64.5 times the average of the past 7 days, and prices have strengthened] TAIKO's 24-hour trading volume surged, ranking 8th on the hot list, drawing attention to market engagement.

[TAIKO 24-hour trading volume increases, prices strengthen] Trading volume surges to dozens of times the 7-day average—possible capital movement?

Bitwise Chief Investment Officer Matt Hougan stated that the volatility of STRC is a phenomenon towards the end of the crypto cycle, and the market is approaching its bottom. STRC allocates Bitcoin with expected high returns and low volatility funds, and this mismatched funds need to be cleared out of the system. The role of Strategy in the Bitcoin market has shifted from a one-way buyer to a participant who can trade flexibly based on market conditions. Institutional investors are gradually entering the market, with Morgan Stanley launching a proprietary Bitcoin ETF and Wells Fargo incorporating Bitcoin into its model investment portfolio.

According to Bloomberg, data center operator Switch has launched a $2 billion private financing round, with a16z leading the investment by contributing approximately $400 million. Goldman Sachs and JPMorgan are assisting in the process, with the financing aimed at preparing for an IPO as early as next year. Following the financing, Switch's enterprise valuation, including debt, is estimated to be close to $50 billion, with an equity value of approximately $19 billion. Negotiations are still ongoing. Switch is headquartered in Las Vegas, with the majority of its equity owned by DigitalBridge. DigitalBridge, along with other investors such as IFM Investors, privatized Switch in 2022 through a transaction valued at approximately $11 billion.

According to AI, an on chain analyst, NFP made the list of contract trading volumes within 24 hours. NFP rose 895% (from $0.004412 to $0.04391) within 13 hours from 15:00 yesterday, and then fell 82.36% within 6 hours. NFP experienced a double explosion of long and short positions, with the amount of open contracts shrinking by 90% compared to the short-term high point. Binance announced that it will remove NFP on July 10th.