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Odaily News In a recent interview on Cointelegraph's program Chain Reaction, Lucas Sum, Head of Stock Market Development at Gate, stated that crypto and stocks are quietly converging and increasingly becoming part of the same macro trade. He pointed out that the correlation between the crypto market and the Nasdaq index is currently higher than the five-year average, with the correlation coefficient once exceeding 0.8. Market sentiment is generally cautious at present, with more funds staying in low-risk assets such as stablecoins, as investors await clearer catalysts.Lucas Sum believes that the core narrative of the next market cycle may no longer be "crypto vs. Wall Street," but rather traditional financial assets accelerating their entry into the digital financial system through on-chain infrastructure. The scale of RWA has grown from approximately $12 billion a year ago to over $30 billion, while the scale of tokenized U.S. Treasury bonds has also reached approximately $15 billion, indicating that on-chain financial infrastructure continues to expand. Meanwhile, macro liquidity, real yields, and regulatory clarity remain key factors influencing the performance of risk assets. Against this backdrop, investors' focus is shifting from single-asset allocation to coordinated allocation across multiple asset classes. Lucas Sum noted that Gate is continuously expanding its stock business, currently covering U.S., Hong Kong, and Korean stock markets, with plans to extend further into more global markets to provide the necessary infrastructure for multi-asset investment.
Odaily News - The Korea Digital Convergence Industry Association has released the "Expected Revisions to Sub-regulations of the Tokenized Securities System and Detailed Guidelines" document, which primarily clarifies the scope of "pooling" for similar underlying assets, OTC trading limits for retail investors, access conditions for OTC exchanges handling non-standardized securities, the roadmap for tokenization of standardized securities (STO), and requirements for issuer account management institutions.The document mentions that separate annual limits are expected to be set for retail investors trading tokenized securities over-the-counter. In addition, licensing standards for OTC trading venues will be established, along with the inclusion of multiple asset valuation standards and profit distribution methods.It is reported that the detailed regulatory rules will still need to go through legislative, public notice, and regulatory review procedures before being finalized. The new regulations are expected to promote the gradual expansion of tokenization from non-standardized securities such as investment contract securities and income-bearing securities to standardized securities including stocks and bonds, while further improving investor protection and market infrastructure development. (EToday)
Odaily报道, “BTC OG insider whale” Garrett Jin has released his “Weekly Market Strategy Signal.” In his analysis, he points out that the current geopolitical situation and the trajectory of the US dollar are deadlocked: despite US strikes on Iranian-related targets, tensions in the Strait of Hormuz remain unresolved. Although US Secretary of State Rubio signaled “positive news,” the peace agreement proposed by Iran has already been vetoed by the White House.Long-term US Treasury yields continue to hover in the 5.07% – 5.18% range, reaching their highest levels in 19 years. The S&P 500 index briefly hit a new high before quickly pulling back. Garrett Jin believes that a single positive or negative catalyst is insufficient to change the market landscape. Only when at least two of the three key factors—the credit environment, Federal Reserve policy, and geopolitical conditions—converge can the market experience a substantial shift.On another front, capital expenditure in the AI sector is accelerating its shift from the United States to Asia. ByteDance plans to increase its capital expenditure to as high as $70 billion this year, while Tencent and Alibaba are also ramping up their investments. Competition in the AI arena has now escalated to the level of national competition.