Gate Ventures: Tech Stocks Hit New Highs Amid Inflationary Pressure, Risk Appetite in Crypto Market Rebounds

Odaily Odaily reports that according to Gate Ventures' latest weekly report, global markets continued to strengthen last week, driven by the tech sector. The S&P 500 and Nasdaq both hit record highs, with the S&P 500 rising 2.36% for the week and the Nasdaq gaining 4.52%. In the crypto market, BTC rose 4.6% last week, and ETH increased by 2.1%. Spot BTC ETFs recorded net inflows for the fifth consecutive week, and market sentiment rebounded to neutral territory. Additionally, the total market cap of the crypto market excluding the top ten assets saw a weekly increase of 12.6%.

On the macro front, the ISM Services PMI rose to 70.7, a two-year high. Combined with energy price volatility and the Fed's policy expectation of "keeping interest rates higher for longer," market attention towards a "stagflation" environment has further intensified. On the industry side, Kraken's parent company, Payward, has applied for a national trust charter from the OCC, highlighting the increasingly clear trend of industry compliance. In terms of investment and financing, ten funding rounds were completed last week, totaling $34.2 million, with a primary focus on the DeFi and infrastructure sectors. Among these, OpenTrade secured $17 million in funding to accelerate the development of institutional-grade stablecoin yield infrastructure; OnRe received $5 million in Series A funding to advance the deployment of tokenized reinsurance products on the Solana blockchain.