According to BlockBeats, Bitunix officially launched the "Trading King Challenge" individual trading competition on July 29th. The event will run from July 28th to August 12th (UTC+0), and all registered users on the platform are welcome to participate. The competition features two leaderboards: one for trading volume and one for return rate. The prize pools are divided into 80% (560,000 USDT) and 20% (140,000 USDT) respectively. Participants with a valid contract trading volume of 50,000 USDT are eligible to receive a prize. If a participant ranks on both leaderboards, the higher reward will be awarded.

As the platform's contract trading ecosystem continues to grow, Bitunix is giving back to the community with a prize pool of up to 700,000 USDT, inviting traders from around the world to compete and win the ultimate prize.

BlockBeats reports that on July 29th, the current AI hardware bull market came to an abrupt halt amidst much fanfare. Over the past month, previously strong performers such as storage, chips, and semiconductor equipment have collectively retreated. Market concerns about the return on AI capital expenditure, overvalued stocks, and competition from the Chinese supply chain have intensified, leading to a shift of funds towards leading Hong Kong-listed companies and undervalued established stocks. Looking at the performance over the past month, leading AI stocks have seen significant declines:

· South Korean SK Hynix (down 53% in 34 days)

SanDisk (US stock) fell approximately 47%.

Intel shares fell approximately 34% in the US market.

Samsung Electronics (South Korean stock) fell approximately 32%.

Micron Technology (US stock) fell approximately 28%.

Meanwhile, some long-established Hong Kong-listed stocks continued to strengthen, with assets of established platforms such as Tencent, Meituan, Xiaomi, Alibaba, and JD.com receiving capital inflows. Among them:

Xiaomi Group (up approximately 46%)

Meituan (up approximately 36%)

JD.com (up approximately 28%)

Alibaba (up approximately 22%)

Tencent Holdings (up approximately 11%)

Data from the Korea Exchange shows that as of mid-July, foreign investors had net sold 12.1 trillion won on the KOSPI main board and 338.1 billion won on the KOSDAQ. In contrast, southbound capital flows into Hong Kong stocks continued. According to Morgan Stanley, from July 16th to 22nd, southbound capital saw a net inflow of US$1.6 billion into Hong Kong stocks; the cumulative net inflow since July has reached US$11.1 billion, and the year-to-date net inflow has reached US$46.6 billion. Following the receding of crowded transactions in the AI hardware supply chain, funds are withdrawing from high-elasticity semiconductor assets in South Korea and shifting towards leading internet companies, dividend-paying assets, and undervalued core stocks in Hong Kong.

Market analysts believe that after AI trading entered a deleveraging and valuation correction phase, funds are more inclined towards assets with clear profit paths and room for valuation recovery. In the short term, Hong Kong-listed internet leaders, dividend-paying assets, and traditional core stocks are absorbing some of the risk appetite returning to the market.

According to BlockBeats, on July 29th, South Korean lawmaker Yoo Dong-soo stated that South Korean financial authorities held an emergency meeting today, scheduled to begin at 6 PM local time (5 PM Beijing time). (Jinshi)

According to BlockBeats, on July 29th, Bitget Unified Account (UTA) launched an interest-free USDGO holding lending program, which will run from 15:00 on July 29th to 15:00 on August 29th (UTC+8).

During the promotion period, USDGO holders can receive an interest-free loan amount equivalent to 30% of their USDGO holdings when borrowing USDT under a unified account, with a maximum interest-free limit of 10 million USDT per user. These benefits will automatically take effect during the promotion period; no manual claiming or registration is required. For more details, please refer to the Bitget official platform.