---
title: "U.S. stock market update: DeFi Development down 7.35%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/250452997.md"
description: "DeFi Development fell 7.35%; SoFi Tech fell 1.39%, with a transaction volume of 610 million USD; First Capital Finance rose 0.31%, with a transaction volume of 409 million USD; Upstart fell 2.51%, with a transaction volume of 191 million USD; American Express fell 0.25%, with a market capitalization of 216.3 billion USD"
datetime: "2025-07-28T16:13:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/250452997.md)
  - [en](https://longbridge.com/en/news/250452997.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/250452997.md)
generator: "portal-rs"
---

# U.S. stock market update: DeFi Development down 7.35%

**U.S. Stock Market Midday Update**

DeFi Development fell 7.35%, with increased trading volume. Based on recent key news:

1.  On July 23, DeFi Development announced an increase in its holdings of Solana to nearly 1 million, raising concerns about its financial strategy and causing the stock price to drop by 7.35%.

2.  On July 14, the company set an SPS target for June 2026, planning a growth of 261%, but the market expressed doubts about its ability to achieve this target.

3.  On July 8, the company increased its holdings by 47,272 SOL, demonstrating its ongoing investment strategy in cryptocurrencies, but failed to boost the stock price.

**Top Stocks by Industry Trading Volume**

SoFi Tech fell 1.39%, with increased trading volume. Based on recent important news:

1.  On July 28, SoFi is set to release its quarterly earnings report, with the market expecting an EPS of $0.06, leading to stock price fluctuations as investors focus on whether it can exceed expectations.

2.  On July 28, analysts maintained a neutral rating on SoFi, not including it in their recommended buy list, affecting market confidence.

3.  On July 27, retail trading was active, with small-cap stock trading volume surging, impacting market sentiment.

First Capital Financial rose 0.31%, with increased trading volume. Based on recent important news:

1.  On July 28, First Capital Financial expects accelerated buybacks by 2026, with quarterly earnings fluctuations due to the integration of DFS, projecting an adjusted EPS of about $18, indicating a potential 2-3% upside in stock price.

2.  On July 27, small-cap stock trading volume surged in the U.S. market, with increased retail activity driving market volatility.

3.  On July 28, a surge in housing inventory in Las Vegas led to a decline in sales, increasing market uncertainty.

Upstart fell 2.51%, with increased trading volume. Based on recent important news:

1.  On July 27, a surge in fintech stocks boosted market sentiment, and Upstart performed strongly after updating its AI model, leading to increased stock price volatility.

2.  On July 27, retail trading was active, with small-cap stock trading volume surging, significantly impacting Upstart.

3.  On July 27, PENGU trading volume surpassed DOGE, affecting Upstart due to market sentiment fluctuations.

**Top Stocks by Industry Market Capitalization**

American Express fell 0.25%, with increased trading volume. Based on recent important news:

1.  On July 28, Citigroup launched a new high-end credit card, Strata Elite, competing with American Express, raising concerns about American Express and causing its stock price to drop by 0.25%.

2.  On July 26, American Express released a strong earnings report, showing strategic growth potential in high-end products and international expansion, boosting market confidence On July 26, analysts maintained a wait-and-see attitude towards American Express, believing its stock is relatively cheap, but it was not included in the recommended buy list, affecting investor sentiment

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**