HSBC released a report raising the year-end target for the S&P 500 Index from 6,400 points to 6,500 points, marking the second adjustment in less than a month. HSBC stated that corporate earnings in the second quarter exceeded expectations, with particularly strong performances in technology and financial stocks. Additionally, it is anticipated that the Federal Reserve will begin cutting interest rates in September, with a cumulative reduction of 0.75% by 2026. HSBC also raised its forecast for this year's S&P 500 earnings per share growth from 9% to 12%, while maintaining its most bullish target at 7,000 points and most bearish target at 5,700 points.

Token rebounds from session lows with whale accumulation offsetting institutional liquidations, but resistance levels cap momentum.

Stablecoins are gaining traction in cross-border payments, especially in emerging markets where access to reliable currencies and banks is limited.

[Ripple Promotes the Adoption of Stablecoin RLUSD in the African Market] Ripple is actively expanding the use cases of its USD-backed stablecoin RLUSD in Africa by establishing partnerships with distributors such as Chipper Cash, VALR, and Yellow Card, aiming to attract more institutional users. Meanwhile, Mercy Corps Ventures is testing RLUSD in Kenya for climate risk insurance programs. In the trial, stablecoin funds are automatically disbursed after satellite data monitors drought conditions; another pilot project is being used for rainfall insurance, where extreme weather events trigger compensation mechanisms. These innovative applications showcase the potential of blockchain technology in addressing climate change and advancing financial services.

The current price of ETH is $4382.91, with a 0.95% increase in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 1 hour was 12.86 million US dollars, with multiple orders being the main liquidation and 3.91 million US dollars (30.43%) of ETH liquidation. The data is for reference only.