According to BlockBeats, on July 23, GMGN monitoring showed that the market capitalization of Meme coin GME on Robinhood Chain briefly exceeded $20 million, currently trading at approximately $17.1 million, with a 24-hour trading volume of approximately $23.9 million.

It is understood that the token was issued today through Bankr and is a meme coin built around the retail culture of GameStop and GME. It is neither GameStop stock nor Robinhood's official GME stock token. Its main narrative is to bring the traditional US stock meme culture to the Robinhood Chain and directly use the official GME Stock Token as the trading pair, forming a "meme coin + stock token" gameplay.

Due to the limited liquidity of the on-chain GME stock token, concentrated buying pressure briefly pushed its price up. Simultaneously, since the Meme coin is denominated in GME stock tokens, the rise in the stock token also increases the USD price and market capitalization of Meme GME, further attracting market buying.

In the morning, GME Stock Token was trading at $31.81, a premium of about 46.7% over the US GME stock price of approximately $21.70 at the same time. As market makers replenished the token supply and arbitrage funds entered the market, the premium subsequently narrowed.

In addition, MEXC has included the Meme coin under the name GMEROBINHOOD in Meme+ and launched perpetual contracts with up to 20x leverage.

BlockBeats reminds users that this Meme coin is not the same asset as GameStop and Robinhood's official GME stock token, and its price fluctuates significantly. Investors should be aware of the risks.

According to BlockBeats, on July 23, Citrini analyst Jukan posted on social media, "Don't underestimate the competitiveness of Yangtze Memory Technologies (YMTC). NAND flash memory is still in short supply, and this shortage will continue."

It is reported that Nvidia's CMX racks are currently severely affected by the NAND supply shortage, and are even unable to ship at full capacity. Some customers who were preparing to purchase CMX racks are reportedly being asked to purchase some NAND themselves to complete the overall system configuration.

I am not bearish on NAND. Yangtze Memory Technologies (YMTC) remains highly dependent on the consumer market, and its competitiveness cannot be ignored, but this does not mean it will cause the NAND market to re-enter a state of oversupply.

According to BlockBeats, on July 23, Morgan Stanley lowered its price target for Alphabet (GOOG.O) from $415 to $400. It also lowered its price target for Tesla (TSLA.O) from $417 to $400. However, it raised its price target for Apple (AAPL.O) from $360 to $364.

According to BlockBeats, Goldman Sachs stated in its latest MarketFeed commentary on July 23 that foreign investors are returning to the South Korean market. The KOSPI surged 4.4% on Thursday, closing above 7000 points, marking the fourth consecutive trading day of net foreign buying. This week saw a net inflow of $3.8 billion from foreign investors, the largest single-week net inflow on record.

Buying activity was highly concentrated in the AI and memory supply chains. Goldman Sachs noted that approximately 87% of foreign investment flowed into the technology sector, with about 91% of nominal trading volume within that sector concentrated in Samsung Electronics and SK Hynix. This suggests that overseas funds returning to South Korean assets are primarily betting on the impact of global AI capital expenditures on the memory cycle.

This round of capital outflows occurred after a period of significant deleveraging in the South Korean market. Previously, the KOSPI index had fallen by approximately 22% from its year-to-date high, with Samsung and SK Hynix becoming the main targets of foreign selling. Goldman Sachs pointed out that foreign ownership in the South Korean semiconductor sector has fallen to 50%, 1.9 standard deviations below the historical average since 2000, indicating a significant easing of position pressure.

Leverage risk is also cooling. The report states that brokerage swap capacity has improved, and financing rates have fallen significantly compared to the previous month; retail margin calls receivables have dropped to 1.4%, returning to the historical average; and margin loan balances have decreased from a high of $25 billion to $22 billion. Previously, the market was concerned about selling pressure from the rebalancing of the South Korean National Pension Service (NPS), but over the past 14 trading days, the pension fund has made net purchases of $19.1 million in the KOSPI, with a cumulative net purchase of $203.7 million between July 14th and 21st.

Fundamental support comes from AI capital expenditure. Goldman Sachs noted that Alphabet's revised $205 billion spending target, along with OpenAI's planned $750 billion cloud spending, could provide South Korean chipmakers with multi-year revenue visibility. The market will now be watching whether Meta, Microsoft, and Amazon follow suit and increase their capital expenditures.

From a market perspective, South Korea's rebound is synchronized with the recovery in global chip sentiment. Earlier this week, the South Korean stock market had already rebounded sharply, driven by the semiconductor sector. Yonhap reported that the KOSPI rose 3.56% on July 21, with Samsung and SK Hynix leading the gains. The WSJ also noted that South Korea's second-quarter economic performance was better than expected, with chip exports being a key support.

From a technical perspective, Goldman Sachs previously indicated that 6800 points was a key support level at the 38.2% Fibonacci retracement level of the KOSPI. After stabilizing near this level, the index rebounded above 7000 points, the MACD began to rise, and the RSI was around 44.6, not yet entering overheated territory. Goldman Sachs' next resistance level is 7700 points, corresponding to approximately 7.8% upside potential.

According to BlockBeats, on July 23, Barclays raised its price target for Alphabet (GOOG.O) from $405 to $425.

According to BlockBeats, as of July 23, SKHX on Hyperliquid was trading at $1321, and SKHY at $176.09. Based on a 10:1 exchange rate, 10 ADRs were worth $1760.90, representing a 33.3% premium over the Korean stock price.

Since SKHY's listing on July 10, the ADR premium has remained constant, ranging from approximately 16.45% to 33.30% (the lowest on July 11 and the highest on July 17), and has now risen to the upper end of the range.

According to Hyperinsight monitoring , a large whale (0x2ab3) with a narrowing spread is betting on a narrowing premium by going long on Korean stocks and shorting US ADRs, with a current combined position of approximately $29.058 million.

SKHX (10x Long): Holding 12,000 units, valued at approximately $15.852 million, with an average entry price of $1,280.7, a floating profit of $482,000, and a liquidation price of $1,093.7.

SKHY (10x short): Holding 75,000 units, valued at approximately $13.206 million, with an average entry price of $167.2, a floating loss of $660,000, and a liquidation price of $208.9.

Based on the current average holding price, the corresponding ADR premium at the time of position establishment was approximately 30.61%. Currently, the premium has widened by 2.69 percentage points, and the loss on the ADR short position has exceeded the profit on the Korean stock long position, resulting in a combined loss of approximately $177,600. Funding rates show that both positions are currently on the pay-per-click side. If the position size and fees remain unchanged, the total cost will be approximately $716.53 per hour and approximately $17,200 per day.

The whale continued to adjust its spread positions throughout the day: from early morning to noon, it closed out two positions totaling approximately $16.0484 million, incurring a total loss of $180,800 on API closedPnl; in the afternoon, it reopened positions totaling approximately $9.0121 million, including a long position in SKHX worth $4.5578 million and a short position in SKHY worth $4.4543 million. As of the snapshot, it had no pending orders.

Additional data: Using TSMC as a benchmark, the current ADR premium is approximately 6.96%. SK Hynix's current ADR premium of 33.49% is approximately 4.8 times, or nearly 5 times. Historically, TSMC's ADR premium rose to nearly 90% during the dot-com bubble; when it issued additional ADSs in June 2000, the premium was still as high as 43%.

According to BlockBeats, on July 23, four sources said that Amazon (AMZN.O) founder and CEO Jeff Bezos urged Prime Video head Mike Hopkins to completely overhaul the streaming service Prime Video, placing artificial intelligence at its core.

Internally known as "Lighthouse," the project will showcase Amazon's artificial intelligence capabilities to over 200 million Prime Video users. Sources indicate that Project Lighthouse is seen as a key initiative for Amazon to enhance its position in the field of artificial intelligence.

In addition, other artificial intelligence projects, such as years of upgrades to the Alexa voice assistant to provide more natural conversational responses, have had mixed results and are still operating at a loss.

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According to BlockBeats, on July 23, Tesla still predicts that its full-year capital expenditures will exceed $25 billion, while the market estimate is $25.09 billion.

BlockBeats reports that on July 23, the European Commission announced that Google (GOOG.O) has been fined a total of €890 million for violating EU rules. Google has 60 days to treat competitors fairly and allow app developers to direct users away from its app store. Google has made significant progress in complying with EU rules, and negotiations will continue.

Google responded that it may challenge the EU's penalty decision in court.