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Rainer Guntermann of Commerzbank stated that expectations for an interest rate cut by the European Central Bank are losing momentum. Rainer Guntermann pointed out that the official guidance in July was ambiguous, the European Central Bank has not ruled out the possibility of a rate hike, and for eurozone front-end bond yields to decline, oil prices would need to drop significantly further. Data from the London Stock Exchange Group shows that the money market is currently reflecting expectations of a 17 basis point rate hike by the European Central Bank in September, and a 25 basis point increase by the end of the year. Rainer Guntermann said that with many European Central Bank officials due to speak and the minutes of the June meeting to be released, more details will emerge.

Token Terminal data shows that over the past few days, the amount of ETH bridged from Ethereum to Robinhood Chain has surged by around 10 times. (Cointelegraph)

BlockBeats news, on July 6th, Serenity stated that a recent Nomura Securities research report indicates that, as AI infrastructure construction continues to heat up, the upstream photonic materials supply chain is facing dual pressures of surging demand and tightening supply. AXTI and IQE are among the main beneficiaries of the indium phosphide (InP) industry chain. In terms of prices, the price of 2-inch InP substrates is expected to rise by 42% to 76%, while 3-inch InP substrates are expected to rise by around 78%; the price of 2-inch EML epitaxial wafers is expected to increase by 50% to 75%, and the price of 3-inch CW epitaxial wafers is also expected to rise by more than 40%. The report finds that hyperscale cloud service providers are continuously expanding AI data centers, driving the entire optical communication industry chain into a tighter supply-demand phase. Bottlenecks have already appeared in all segments, from material prices, terminal demand to supply capacity. Serenity states that, as demand for AI optical interconnects continues to be released over the coming years, upstream photonic material prices will continue to rise, similar to the price increase cycle previously experienced by SanDisk. Over the next two years, as the AI demand curve rises further, whether this judgment is accurate remains to be verified by the market.