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

Odaily News According to the latest weekly report from Gate Ventures, global markets continued to strengthen last week, driven by the tech sector. Both the S&P 500 and the Nasdaq index set new all-time 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, while ETH increased 2.1%. Spot BTC ETFs recorded net inflows for the fifth consecutive week, pushing market sentiment back into the neutral zone. Additionally, the total market cap of the crypto market, excluding the top ten assets, rose 12.6% week-over-week.

On the macro front, the ISM services price index rose to 70.7, a two-year high, coupled with energy price volatility and the Fed's policy expectation of "keeping interest rates higher for longer," which has further heightened market concerns about a "stagflation" environment. On the industry front, Kraken's parent company Payward has applied for a national trust charter from the OCC, reflecting an increasingly clear trend of industry compliance. In terms of investment and financing, 10 funding rounds were completed last week, totaling $34.2 million, with a primary focus on DeFi and infrastructure tracks. Among them, OpenTrade completed a $17 million funding round to accelerate the construction of institutional-grade stablecoin yield infrastructure; OnRe secured $5 million in Series A funding to advance the deployment of tokenized reinsurance products on the Solana blockchain.