Cổ phiếu Micron Technology (MU.O) đã vượt mốc vốn hóa thị trường 700 tỷ đô la và hiện đang tăng gần 8%. Trước đó, có thông tin cho rằng một địa chỉ đã gửi 1,5 triệu USDC vào Hyperliquid để mở vị thế mua (long position) đối với cổ phiếu xyz:MU (Micron) với đòn bẩy 5x, và hiện đang có lợi nhuận khả dụng là 260.000 đô la.

Thông tin từ mạng thử nghiệm Hyperliquid cho thấy nền tảng này đang thử nghiệm các hợp đồng sự kiện mới, bao gồm cả thị trường biến động giá tiền điện tử trong vòng 15 phút.

Key Takeaways Bitcoin has risen 19% in just over a month to above $81,000, rallying alongside oil above $100 and Bloomberg's commodity futures index hitting a decade high -- defying the traditional macro playbook that links rising inflation to Bitcoin weaknessUS spot Bitcoin ETFs have attracted $4.45 billion since March, with most inflows now viewed as directional bullish bets rather than non-directional arbitrage playsPaul Tudor Jones called Bitcoin "unequivocally the best inflation hedge there is -- more than gold," citing Bitcoin's finite supply versus gold's annual supply growth of a few percentBitget Research chief analyst Ryan Lee says gold is "no longer the default" hedge -- digital assets are "increasingly being considered alongside it, not after it"The real test of the inflation hedge thesis has not yet arrived: if Bitcoin holds or rises during an equity selloff, the narrative is confirmed; if it falls with equities, the risk asset label sticksQCP Capital notes Bitcoin's correlation with US stocks is climbing back toward 2023 levels, complicating the inflation hedge interpretation Bitcoin is trading above $81,000, having gained 19% in just over a month in a rally that is forcing a reassessment of one of the most foundational assumptions in crypto market analysis: that Bitcoin is a risk asset that suffers when inflation rises and interest rates stay high. The evidence forcing that reassessment is straightforward. Oil is hovering above $100 per barrel. Bloomberg's commodity futures index has jumped to a decade high. US consumer inflation expectations are surging. In the standard macro playbook, this combination is bearish for Bitcoin -- higher inflation means the Fed keeps rates elevated, which makes yield-bearing safe assets more attractive and reduces the incentive to hold yield-less assets like Bitcoin. That logic worked in 2022, when the Fed's aggressive rate hiking cycle was a key catalyst for that year's crypto crash. This time, Bitcoin is not following the script. The Inflation Hedge Case Is Building A growing number of analysts are attributing the divergence to a structural shift in how institutional investors are using Bitcoin -- from a speculative risk asset to an inflation hedge held alongside or instead of gold. The most direct endorsement of that view came last week from Paul Tudor Jones, one of the most respected macro traders of his generation and the man who correctly called and traded the 1987 stock market crash. "Bitcoin is, unequivocally, the best inflation hedge there is," Jones said on the Invest Like the Best podcast. "More than gold." His reasoning is structural rather than speculative. Unlike gold, whose supply expands by a few percent annually through mining, Bitcoin has a mathematically finite supply. In a world where central banks have repeatedly demonstrated willingness to expand the money supply, Jones argued the rational response is to own the asset they cannot print more of. ETF Inflows Support the Structural Shift The inflation hedge interpretation is not merely circumstantial -- it is backed by the flow data. US spot Bitcoin ETFs have attracted $4.45 billion since March, nearly reversing the massive outflows of late 2025 that weighed on the spot price. Critically, most of these inflows are now viewed as directional bullish bets rather than the once-popular non-directional cash-and-carry arbitrage trade. Ryan Lee, chief analyst at Bitget Research, said the institutional shift is visible in how hedging is being approached. "Gold is no longer the default -- digital assets are increasingly being considered alongside it, not after it," Lee said. Paul Howard, senior director at crypto liquidity provider Wincent, went further, stating that "as both an inflation hedge and a highly liquid store of value, bitcoin possesses several characteristics that could support a 3.5 times increase in price over the next three years." The Honest Caveat Analysts are not unanimous, and the more cautious voices raise a valid structural objection to the inflation hedge narrative as it currently stands. Bitfinex analysts noted in a report that "macro signals remain divided, with commodities pricing supply-side stress while risk assets continue to trade higher. This divergence highlights a growing disconnect across asset classes and raises questions about the durability of the current risk-on environment." QCP Capital offered the most pointed challenge to the inflation hedge thesis. "After a solid April, BTC has begun May on firm footing, breaking above $80,000 for the first time since January 31. The move appears aligned with equities, reinforcing a broader trend as BTC's correlation with US stocks climbing back toward 2023 levels, signaling a renewed linkage with risk assets broadly," the Singapore-based trading firm said. The QCP observation points to the core analytical problem: US equities are simultaneously on a tear, making it genuinely difficult to isolate whether Bitcoin is rising because of an inflation hedging bid or simply because it is tracking the risk-on equity environment. Both explanations fit the current data. The Real Test Has Not Yet Arrived The definitive test of the inflation hedge narrative requires a scenario that has not yet materialized: an equity market selloff occurring alongside persistent inflation. If Bitcoin holds or rises during that combination -- if it decouples from equities when stocks fall while inflation stays elevated -- the inflation hedge thesis gets confirmed in the most meaningful way possible. If Bitcoin falls alongside equities during such a scenario, the risk asset label will stick regardless of the current narrative. That test remains ahead. Until it arrives, the inflation hedge thesis is compelling, gaining institutional traction, and backed by real flow data -- but it is not yet proven.

Key Takeaways Bitcoin has climbed to $81,490 on Tuesday, extending its breakout above $80,000 as US equity futures rise with Nasdaq 100 futures up 0.5% and S&P 500 futures up 0.3%Cardano (ADA) futures open interest surged 18% to a record 2.17 billion tokens, with one of the highest CVD readings among major tokens and funding rates at a non-extreme 9% annualizedTON open interest jumped 40% to a record 200.2 million tokens with the strongest CVD among the top 30 cryptocurrencies, though slightly negative funding rates suggest spot buying combined with futures hedging rather than outright speculationBitcoin's 30-day implied volatility index BVIV jumped 5% on Monday -- the sharpest single-day increase since mid-March -- moving back above 40% from multi-month lowsThe CoinDesk DeFi Select Index is the best-performing benchmark on Tuesday, up 2.7%, with Ethena (ENA) and ONDO surging 6.8% and 3.7% respectivelyCoinMarketCap's Altcoin Season indicator has ticked up to 41/100, signaling neutral but warming sector sentiment following a multi-month downtrend Bitcoin has extended its breakout to $81,490 on Tuesday -- its highest level since late January -- as improving risk sentiment filters through both crypto and traditional markets, with investors rotating from crypto majors into more speculative altcoin plays and derivatives activity picking up across several tokens following a volatile Monday session shaped by Iran missile reports and the subsequent US denial. US equity futures are lending support, with Nasdaq 100 futures up 0.5% and S&P 500 futures adding 0.3% in pre-market trading as investors buy the dip following Monday's Strait of Hormuz-related jitters. Precious metals gold and silver also ticked higher but remain significantly below their early March speculative peaks. ADA Futures Hit Record Open Interest Cardano's ADA is showing one of the most notable derivatives setups of the session. Futures open interest has surged more than 18% to 2.17 billion tokens, surpassing the previous record set in January. Despite the scale of the buildup, positioning does not appear excessively overheated -- perpetual funding rates are running at an annualized 9%, signaling bullish sentiment without extreme leverage. ADA is also posting one of the highest cumulative volume delta readings among major tokens, indicating that buyers are driving price action through aggressive market orders rather than passive limit orders. TON Records 40% OI Surge on Telegram Announcement TON is the session's top-performing altcoin in the CoinDesk 100, rallying 8.1% since midnight UTC and 28% over the past 24 hours following Pavel Durov's announcement that Telegram will replace the TON Foundation as the driving force behind the network. Futures open interest has jumped 40% to a record 200.2 million tokens, with TON showing the strongest CVD among the top 30 cryptocurrencies. The funding rate picture is unusual -- rates remain slightly negative despite aggressive buying pressure, suggesting traders are purchasing TON in the spot market while simultaneously shorting futures to hedge their exposure rather than expressing pure directional conviction through leverage. A Caution Signal Beneath the Surface Despite Bitcoin's climb to $81,490, a broader derivatives caution signal warrants attention. The OI-adjusted 24-hour CVD is negative for Bitcoin and most major tokens -- with ADA, TON, and M as the notable exceptions. The negative reading indicates that the rally above $80,000 is not being strongly supported by aggressive derivatives buying, raising the risk that price gains could lack follow-through if spot demand weakens. Bitcoin's own open interest has risen approximately 3% to 785,000 BTC, approaching the recent record near 800,000 BTC -- a level that historically has preceded periods of elevated volatility. Derivatives activity in Ether, XRP, and Solana has been relatively muted over the past 24 hours, suggesting a selective rather than broad-based market expansion. Implied Volatility Rebounds Sharply Bitcoin's 30-day implied volatility index BVIV jumped 5% on Monday -- its sharpest single-day increase since mid-March -- moving back above 40% from multi-month lows. The rebound from suppressed volatility levels bears watching. A continued rise in implied volatility can signal growing institutional hedging demand or expectations of larger price swings, and in some historical cases has coincided with risk aversion and unwinding of recent gains. Ether's equivalent EVIV index has yet to show a similar pickup. Traditional markets are showing early hedging signals as well, with social media chatter pointing to large purchases of VIX call options -- instruments that pay off if Wall Street's fear gauge spikes, typically in response to an equity market selloff. On Deribit, risk reversals for both Bitcoin and Ether remain skewed toward puts across maturities, meaning downside protection continues to command a premium over upside exposure. Analysts interpret this less as outright bearishness and more as a structural shift in market composition -- institutions playing a larger role tend to systematically hedge downside risk or generate yield through covered call selling, producing a market that is more hedged and less euphoric than in previous crypto cycles. DeFi and Altcoins Lead the Rotation The session's clearest trend is a rotation from crypto majors into more speculative plays. The CoinDesk DeFi Select Index is the best-performing benchmark on Tuesday, up 2.7% since midnight UTC, with Ethena (ENA) surging 6.8% and ONDO gaining 3.7% -- the latter continuing its rally following the Clarity Act stablecoin yield compromise that is expected to benefit real-world asset token structures. The CoinDesk 5, weighted toward crypto majors, is the session's worst performer with just a 0.5% gain -- a reflection of capital rotating into higher-beta opportunities as broader sentiment improves. CoinMarketCap's Altcoin Season indicator has ticked up to 41 out of 100, signaling neutral but warming sentiment toward the sector following a multi-month downtrend. The reading remains well below the 75 threshold that historically signals a full altcoin season, but the directional improvement is consistent with the rotation dynamic visible in Tuesday's benchmark performance.

Securitize has announced a collaboration with Jupiter and Jump Trading to introduce a stock token trading service. According to NS3.AI, Jupiter is characterized as a decentralized swap aggregator operating on the Solana blockchain.

Jito has announced plans to launch its JTX trading app for general users in July. According to NS3.AI, the app will initially offer spot trading for cryptocurrencies based on the Solana blockchain. Jito also revealed that it holds over $100 million in cash, underscoring its financial stability as it prepares for the app's release.

QuantWare, a developer of quantum chips, has announced the completion of a $178 million Series B funding round, marking one of the largest investments in the quantum processor sector. According to ChainCatcher, the round included participation from Intel Capital and IQT. The company plans to use the funds to build the world's largest dedicated quantum chip factory and aims to increase the scale of quantum processors by approximately ten times compared to current commercial products, with a long-term goal of achieving a hundredfold expansion. Founded in 2021 and originating from QuTech, QuantWare focuses on the design and manufacturing of quantum processing units (QPUs). It has already supplied products to over 50 clients across more than 20 countries, making it one of the largest commercial QPU suppliers globally. Unlike companies such as IBM and Google, which develop quantum chips for their own use, QuantWare positions itself as a neutral supplier. Its VIO platform supports a modular 'chiplet' architecture, enabling third-party companies to scale their quantum chips. QuantWare aims to overcome the bottlenecks in quantum computing related to packaging, wiring, and manufacturing through modular design and a dedicated factory that will increase production capacity by about 20 times. This initiative is expected to accelerate the development of the global quantum industry chain.

Global Millennial Capital (GMCL) has announced the completion of its first 'IPO Opportunities Fund,' raising $100 million, according to ChainCatcher. The fund's investors include family offices from Saudi Arabia, Kuwait, and Qatar, as well as international wealth management institutions. It aims to provide investment opportunities in technology companies approaching liquidity events through private placements for professional and institutional investors. The fund targets mid-sized technology companies with market capitalizations between $5 billion and $20 billion, focusing on sectors such as artificial intelligence and decentralized finance (DeFi) technologies. It prioritizes companies with scalable business models, stable revenue structures, and mature governance systems. GMCL believes these mid-sized tech companies are in the early stages of value realization but are often overlooked by large funds and early-stage investors. The fund's strategy emphasizes participating in key stages before a company's IPO or strategic exit, while also strengthening risk management and investment discipline.

Elastics, an AI prediction market operating system, has successfully raised $2 million in a pre-seed funding round. According to Foresight News, the round was led by Frst, with participation from ElevenLabs, XBTO, RedStone, and a16z. The funding aims to support the development and expansion of Elastics' capabilities in the AI prediction market sector.

OnRe Finance đã huy động được 5 triệu đô la vốn đầu tư, dẫn đầu bởi Forward (công ty quản lý kho bạc lớn nhất của Solana) và Rockaway. Số tiền này sẽ được sử dụng để đẩy nhanh sự phát triển của mảng tái bảo hiểm trên chuỗi của Solana. Forward dự định triển khai tối đa 25 triệu đô la bằng token ONyc của OnRe để tiếp cận doanh thu tái bảo hiểm được mã hóa.

Tôi nhớ khi đến thăm các tổ chức tài chính ở Đài Bắc cách đây 10 năm, tất cả họ đều than phiền: GDP của Đài Loan giảm 0,89% so với cùng kỳ năm ngoái trong quý đầu tiên năm 2016, đánh dấu quý giảm thứ ba liên tiếp, trong khi lương của họ không tăng trong nhiều năm.

Phiên tòa ngày 4 tháng 5: Một vụ bê bối tự gây ra phản ánh toàn bộ kỷ nguyên AI.

Western Union đã chính thức gia nhập thị trường stablecoin bằng việc ra mắt USDPT, một đồng tiền được neo giá vào đô la Mỹ, trên nền tảng Solana, đánh dấu một sự chuyển đổi lớn từ các kênh chuyển tiền truyền thống sang thanh toán dựa trên blockchain.

BitMine đã mua hơn 100.000 ETH trong ba tuần liên tiếp, nâng tổng lượng ETH nắm giữ lên trên 5,18 triệu ETH. Công ty cho biết nhu cầu về Ethereum đang tăng lên do việc mã hóa token, ứng dụng trí tuệ nhân tạo và sự tăng trưởng thu nhập từ việc đặt cọc.

Triều Tiên bị cáo buộc đứng sau hơn 75% các vụ phạm tội tiền điện tử toàn cầu trong năm 2026, với ước tính của công ty phân tích blockchain TRM Labs rằng số tiền bị đánh cắp có thể lên tới 577 triệu đô la chỉ trong bốn tháng qua.

Polygon đã giới thiệu phương thức thanh toán stablecoin riêng tư, che giấu chi tiết giao dịch bằng bằng chứng không tiết lộ thông tin (zero-knowledge proofs) trong khi vẫn đảm bảo tuân thủ các quy định. Người dùng có thể tạo hồ sơ kiểm toán cho các cơ quan quản lý, hướng đến việc sử dụng thanh toán trên chuỗi khối cho các tổ chức với sự riêng tư và giám sát chặt chẽ.

Tether, gã khổng lồ tài chính tiền điện tử nổi tiếng với các stablecoin, đang mở rộng phạm vi hoạt động sang lĩnh vực khai thác Bitcoin.

Sự tiến triển của dự luật CLARITY Act đã tác động trực tiếp đến các nhà phát hành stablecoin và các nền tảng giao dịch, với giá cổ phiếu của Circle tăng vọt gần 20% trong ngày và hoạt động giao dịch USDC tăng đáng kể.

Bitcoin đã tăng vọt vượt mốc 80.000 đô la, đạt mức cao nhất trong bốn tháng là 80.529 đô la chỉ vài giờ sau khi Donald Trump công bố "Dự án Tự do" - một sáng kiến ​​hải quân của Mỹ nhằm hộ tống các tàu chở hàng đi qua eo biển Hormuz có vị trí chiến lược quan trọng trong bối cảnh căng thẳng leo thang với Iran.

Ben Felix, nhà quản lý danh mục đầu tư kiêm giám đốc đầu tư tại PWL Capital, là một chuyên gia đầu tư dựa trên bằng chứng, người chuyển đổi các nghiên cứu tài chính hàn lâm thành các quyết định thực tiễn dễ hiểu đối với người bình thường.