Ether and XRP flat as chip stocks steady after Samsung’s 250-fold profit surge
Cryptocurrency majors were largely unchanged on Thursday, with Ether around $1,905 and Bitcoin near $64,100. XRP traded close to $1.07. Trading volumes were modest (about $28B in BTC and $10B in ETH), suggesting thinning liquidity rather than a strong risk-off or risk-on impulse.
Ether and XRP price action tracked a broader move in Asia’s tech complex as the semiconductor selloff showed early signs of easing. Samsung reported chip profits rising more than 250-fold, driven by AI memory shortages. Despite the extreme earnings jump, Samsung’s shares moved only about 2%—a sign that market expectations have already been stretched.
SK Hynix also reported a sharp profit surge (+557%) but shares fell 17%, reinforcing that investors are reacting more to expectations than to headline results.
In the US, earnings reactions were mixed: Microsoft gained nearly 9% in extended trading, while Meta fell 8% on a weak revenue outlook. Nasdaq 100 futures rose 1% after the index entered a technical correction.
The weekly crypto picture remained softer. HYPE was down 8% over seven sessions (the weakest among majors). XRP fell 6%, SOL dropped 5%, and DOGE slipped 4% to about $0.07. Bitcoin was down roughly 3% on the week. BNB was the only major showing a small weekly gain.
Overall, the article highlights that equity turmoil has not translated strongly into crypto follow-through—past moves suggest BTC has been largely correlating with the chip trade throughout July.
Neutral
The news is broadly neutral for trading because it points to “macro-tech correlation easing” without a decisive crypto catalyst. Ether and XRP staying flat while semiconductor stocks stabilize suggests traders are not yet repricing crypto risk on the back of equity moves.
Samsung’s 250-fold profit surge is notable, but the limited share reaction (and SK Hynix’s big profit vs. sharp stock drop) implies expectations are already stretched. That pattern often produces muted spillovers to adjacent markets—crypto included—unless a clear liquidity or risk-repricing event follows.
Short-term: weekly weakness in HYPE, XRP, SOL, DOGE and modest BTC downside indicates sellers still hold the upper hand, while the day’s flat tape and modest volumes hint at limited conviction. Traders may see rangebound behavior until liquidity improves or macro earnings surprises change expectations.
Long-term: if chip-related risk sentiment truly continues to cool (after weeks of correlation), crypto could gradually decouple and stabilize. However, the article frames current weakness as “thinning liquidity,” which historically can prolong sideways/choppy price action rather than trigger immediate trend reversals.