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According to CoinDesk, Strategy (formerly MicroStrategy) is expected to list its convertible preferred shares, Strike (STRK), on NASDAQ this Thursday. The company announced in its latest financial report a key performance target for 2025, including a $10 billion Bitcoin revenue target and a 15% Bitcoin return rate. So far, its BTC-related earnings have reached $1.24 billion, with a yield of 2.9% since the beginning of the year. In addition, due to not adopting FASB accounting standards, the company recorded a $1 billion asset impairment loss and plans to adopt new rules this quarter. To date, the company has used $17 billion out of the $21 billion ATM stock issuance plan, with stock sales accounting for 2.9% of total trading volume. Strategy's share price rose by 1.3% before market opening.

Analysts at JPMorgan Chase suggest that Ethereum may continue to face "fierce competition" from rival blockchains. The analysts note that Ethereum's share of the total cryptocurrency market value has now fallen to its lowest level in four years, highlighting increasing pressure from competitors. Analysts pointed out two main reasons for Ethereum's poor performance: Increasing competition from blockchains such as Solana and Layer 2 networks, which offer lower fees and higher scalability; and compared with Bitcoin's positioning as a store of value, Ethereum lacks a strong narrative. Even after introducing blobs in the Dencun upgrade of Ethereum to reduce costs and improve scalability, activities are increasingly migrating from the main network of Ethereum to second-layer networks, thereby weakening the base chain. Increased competition also prompts top decentralized applications to migrate to their own dedicated chains for better performance and lower costs. As one of the largest gas consumers on Ethereum, Uniswap's exit could reduce Ethereum's fee income and increase risks associated with network inflation because fewer transactions mean less token consumption.