News

Citi Group's report on July 2 stated that the US-Iran memorandum of understanding is expected to remain effective in the coming months and ultimately evolve into a formal agreement. Analysts including Francesco Martoccia noted that the impetus for de-escalation of conflict outweighs the costs of renewed confrontation. They reiterated their recommendation to sell during any summer rallies and predicted that Brent crude oil prices will fall to $60-65 per barrel by the end of the year. Through this memorandum, Iran has largely achieved its demands, while the US has secured an acceptable global oil price. As the situation in the Strait of Hormuz gradually stabilizes, the fundamentals are quickly recovering, but this process remains fragile due to ongoing disputes over control and tolls in the Strait of Hormuz. (Sina Finance)

Jinse Finance reported that Citigroup, in its July 2 report, stated that the US-Iran memorandum of understanding is expected to remain in effect over the coming months and eventually turn into a formal agreement. Analysts including Francesco Martoccia pointed out that the motivation for de-escalation of the war outweighs the costs of renewed confrontation. They reiterated the recommendation to sell during any summer rallies, and predicted that Brent crude oil prices would fall to $60-65 per barrel by the end of the year. Through this memorandum of understanding, Iran has basically achieved its objectives, while the US has secured an acceptable global oil price. As tensions in the Strait of Hormuz gradually subside, fundamentals are recovering rapidly, but the process remains fragile due to ongoing disputes over management and transit fees in the Strait of Hormuz. (Sina Finance)

Foresight News reports that Cosmos Labs Co-CEO Barry Plunkett posted on Twitter commenting on the Arcus event launched through the collaboration between dYdX and Robinhood. dYdX has previously demonstrated its ability to operate seriously on-chain and drive industry development. However, in recent years, it has faced pressure from next-generation perpetual contract competitors such as Hyperliquid and Lighter, an overall downturn in DeFi, as well as competition from Web2.5 products like Kalshi. He considers the partnership between dYdX and the powerful distribution platform Robinhood, and the shift towards RWA, to be a "rational choice." Regarding the impact on ATOM, he believes it to be very limited. dYdX Chain has always been a sovereign chain, and its fees, security, and value accumulation contribute very little to ATOM. The ATOM community did not pay for dYdX's migration to Cosmos in the first place. This move further confirms the Cosmos team's judgment: for teams with strong distribution capabilities and leading products, owning an underlying platform is extremely important. At present, Cosmos is focusing on building tokenized deposit solutions for banks.