Insiders: Some stablecoin concept stocks are being speculated on too much in the short term, be cautious of the risk of a pullback.

In the past few days, in the Hong Kong stock market, the stock prices of several listed companies have surged due to their involvement in the "stablecoin concept." On July 10, Hong Kong stock PureStar Energy soared more than 280% at one point. The company had earlier announced that it had subscribed to A-series preferred shares issued by HashKey Holdings, which focuses on investment in blockchain technology, global asset management of digital assets, and providing compliant over-the-counter trading services for digital assets. Another stock that saw a significant increase was Drexin Holdings, which rose more than 70% in early trading. The reason for the surge in stock prices is also related to digital currencies. Drexin Holdings announced after the market closed yesterday that it plans to tokenize assets with a total value of up to HK$500 million. However, industry insiders have warned that some stocks related to stablecoin concepts have been overheated in the short term and caution should be taken for potential pullback risks.