1.2 Million People Liquidated in Korean Stocks, Developer Activity on Robinhood Chain Rises to Second Place

Korean stocks suffered a severe blow in July, with 1.2 million people reaching the margin call threshold and over 300,000 accounts liquidated. The liquidation rate among adults reached as high as 1 in 30, with retail investors' margin evaporating nearly 30 trillion won in less than half a month. Developer activity on the Robinhood Chain has risen to second place among public chains, only behind Ethereum. TD Cowen has raised its target price for TSMC from $400 to $440. The Financial Supervisory Service of Korea will monitor brokerage margin trading and financing to prevent further losses for retail investors. SK Group Chairman Chey Tae-won stated that stock prices will rise in the long term supported by demand for memory chips. The Southbound Double Long Hynix fund has seen its market value evaporate by over 80 billion HKD in one month, retreating nearly 75% since its peak in June. Australia will eliminate the 50% capital gains tax discount on cryptocurrencies by July 2027. Spot silver has fallen below $55, hitting a nearly 8-month low.