Industry insiders: Some stablecoin concept stocks are overheated in the short term and need to pay attention to the risk of a pullback

In recent days, in the Hong Kong stock market, the share prices of a number of listed companies have soared due to their involvement in the "stablecoin concept". In the intraday session on July 10, the Hong Kong stock Puxing Energy soared by more than 280%. The company earlier announced that it has subscribed for A series of preference shares issued by HashKey Holdings, which focuses on investing in blockchain technology, global asset management of digital assets and providing compliance digital assets over the counter services. At the same time, the Hong Kong stock market also moved. Delin Holdings, which rose by more than 70% in early trading. The reason for the rise in the company's share price is also related to digital currencies. Delin Holdings announced after the market yesterday that the overall value of the proposed tokenization is up to 500 million Hong Kong dollars. However, some industry insiders have cautioned that some stablecoin concept stocks are overheated in the short term and need to pay attention to the risk of a pullback. (Securities Times)