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#美财长贝森特会谈日方，外汇与加息受关注
On August 30-31, during the G20 Finance Ministers meeting in North Carolina, Treasury Secretary Janet Yellen held bilateral talks with Bank of Japan Governor Kazuo Ueda and Finance Minister Shunichi Suzuki. U.S. Treasury Deputy Secretary Erin Browne confirmed that Yellen clearly conveyed to both that "Japan should raise interest rates next." He also said a meaningful sentence on CNBC — "I have information the market does not, and I believe the Japanese government and central bank will take action to strengthen the yen." When asked if he meant a rate hike, he replied, "The market is already pricing that in."
The market reacted swiftly. Overnight interest rate swaps showed the probability of a rate hike at the Bank of Japan meeting on September 17-18 surged to 88%. The yield on the 10-year Japanese government bond intraday touched 2.99%, approaching the 30-year high of 3%. The USD/JPY hovered in the 159.5-160 range, just one step away from the 160 level that triggered the US-Japan joint intervention on July 31.
Yellen also ruled out the possibility of a recent joint intervention, saying the current yen movement is "quite controlled." This means the US does not want to use foreign exchange reserves to rescue the yen anymore, but rather shift all the pressure to the Bank of Japan — raising interest rates is your only option. $NEIRO — Dip Could Get Interesting
$NEIRO is down just -0.22% near $0.00008575. The decline is mild, so holding nearby support could quickly bring buyers back.
EP: $0.000084–$0.000086
TP: $0.000092
SL: $0.000080Is the saaspocalypse overhyped?
SAAS companies own years of customer data and interactions (customer flows).
Tokens will be the future of how those flows monetise.
SAAS companies own the flow and are the Robinhood of tokens.
They will monetise via PFOF or Anthropic/OAI will acquire them. Sam talked about the inertia in the economy. Designers still use figma.
Either way, I see the premium for SAAS. Anthropic and OAI no longer sit in that part of the stack.
#DailyOrbit $CORE 一直说关闭了交易所充提，但实际上还是有人充进了交易所，所以官方的话没有一句是真，自己看看欧交所地址$BTC $ETH 9月的大饼走出了非常精神分裂的行情。在77000附近磨了三天洋工，盘面看着半死不活，结果81000上方已经压了超过10亿美元的空单清算墙，跟颗定时炸弹似的悬在头上。 回想上一波冲到81455、刚破8万那一下，市场直接绞掉27.7亿美元空单，多少带杠杆的空头账户灰飞烟灭。现在历史又来一遍，一大帮空头又跑到高位扎堆，排着队等清算。 最骚的是多空两边完全对着干： ✅ 现货端，华尔街现货ETF 8月跟抢白菜一样吸了35亿美元，创了近一年流入新高，机构拿着真金白银、不带杠杆进场。 ❌ 合约端，资金费率都转负了，一帮交易者还带着高杠杆死命押跌，疯狂开空。 一边是机构现货不带杠杆的真钱，另一边是合约玩家带杠杆的死空头。两边较劲，总得有人先认怂。 轧空的逻辑很直白：价格一旦向上捅破81338，上面那十亿空单就会触发集中止损。空单止损就是被动买入，买盘一上来价格继续涨，然后更多止损接着推，绞肉机直接启动，空头连环爆炸。 但咱也别上头，地缘冲突、加息预期的阴影还没散，向上逼空不是必然剧本。要是大盘扛不住往下杀，高位抄底的多单一样会被血洗，双向绞杀才是币圈日常。 几点风险必须看明白： ENA rose 82% in one month, but I didn't chase: this "buyback benefit" hasn't truly started yet
I checked Ethena's latest governance proposal, and the market often overlooks one detail: even if the Fee Switch vote passes, ENA won't be immediately bought back.
The proposal states that only when the 14-day average supply of USDe reaches $7.5 billion will the first tier of buyback be triggered; currently, USDe is about $4.07 billion, still short by approximately $3.4 billion. The first tier only takes 5% of protocol revenue, and the proportion will gradually increase as USDe rises to $10 billion, $15 billion, and $20 billion.
More importantly, governance research backtested with 705 days of historical data: after the mechanism truly starts, under current conditions, it can capture about $52.7 million annually, roughly 3.36% of ENA's market cap, which can only absorb about one-tenth of the planned unlock. In other words, buybacks have value but are not an "infinite buy order."
ENA has already risen from about 0.087 to 0.159 in one month, an increase of about 82%. The current price reflects future expectations, not an already established continuous buy order.
My trading direction is very short-term: hold 0.15 and continue observing; only consider following the trend if it firmly stands above 0.17 again; if it falls below 0.14, I will wait first.
If the coin price has already risen 80% in advance, but the actual buyback still requires an additional $3.4 billion USDe supply, would you buy based on expectations or wait until the cash flow really starts buying the coin?$FIL The truth is that generally not many people believe it, but this is the fact. These addresses are the real situation of a virtual coin transaction on the chain that I have been following. This is exactly what you call the big whale. Including the transaction record of a virtual coin at the moment of the crash, I also checked it. The giant whale dumped the market. Do you think the giant whale made money? The giant whale didn't make money either; the giant whale sold at a loss because it saw that the price couldn't be pushed up. After the giant whale dumped, the big holders followed and dumped as well, and they also lost money. Later, some big holders went in to bottom-fish, but finding the market couldn't be pushed up, they also started dumping.ETH performed very well last month, rising more than 30% in a single month. The spot ETF saw a net inflow of $1.85 billion, staking contracts absorbed 1.4 million ETH in one month, and the staking rate broke 35%.
On the surface, it looks like supply and demand are tightening, with circulating supply being gradually withdrawn layer by layer by ETFs, treasuries, and staking, leaving less and less ETH available to sell.
Wow, but few people expose the truth: the three forces driving the tightening are essentially the same group of institutions transferring assets from one hand to the other. The staked coins are their own, ETFs buy their own shares, and the exchange balance decreases the assets they custody. The cost of a thinner circulating supply is amplified price elasticity in both directions.
When prices rise, the moves are indeed more intense; when they fall, they are also more fragile. The short squeeze in August forced shorts to cover. Now, 70.7% of accounts on Binance are long, with futures positions at $32.4 billion, up 20% in thirty days. Last time, leverage piled above the price; this time, it’s stacked below.
Once 2438 is breached, that entire long position will be mechanically liquidated, not waiting for fundamentals to worsen.
The real slow variables are staking and treasury, which move quarterly; the real fast variable is the interest rate meeting on September 16, which moves by the minute. Using quarterly logic to bear minute-level risk is the most dangerous illusion of this cycle.
#ETHMarket #EthereumStaking #CryptoMarketStructure Bitcoin dropped from $79K to $76.7K, while Ethereum lost the $2.4K level as liquidations swept through the market. But this selloff doesn't appear to be crypto-specific. The pressure is coming from macro: 📉 Rising expectations of tighter monetary policy 📉 Traders reducing risk ahead of key economic data 📉 Higher yields strengthening the case for a stronger dollar and weaker risk assets When macro uncertainty spikes, leveraged positions become the first casualties. The result is a cascade of lThe essence of the silver crash: the market is trading valuation cuts, not risk aversion
Many people don't understand why, amid the US-Iran mutual attacks and soaring oil prices, safe-haven assets are falling instead of rising. It's because the market is currently pricing in liquidity tightening expectations, not geopolitical risks.
The probability of a Fed rate hike in September has surged to 66.9%, and Japan's rate hike probability is 97%. With the central banks of these two countries tightening simultaneously, global liquidity faces dual pressure, so everyone needs to be cautious.
In such extreme circumstances, all non-interest-bearing assets are being repriced and, without exception, are doomed to fall.
This includes the declines in silver $XAG, gold $XAU, and Bitcoin $BTC, which fundamentally follow the same logic as the Nasdaq tech stock sell-off: rising interest rates compress the valuations of all forward-looking assets.
As for geopolitical conflicts? That is the pricing power of oil prices.
The pricing power of precious metals is firmly held by real interest rates.
My core judgment is: as long as rate hike expectations do not retreat, precious metals will struggle to have a sustained rebound. Grid trading executes automatically; do not try to guess the bottom. Went back and actually reread the Standard Reserve whitepaper after @0xbeans called everyone out for feeding it into ChatGPT and flooding the timeline with threads lol.
Fair enough. So here's an actual read, not a summary race.
The part everyone's hyping isn't the part I think is actually good
"Sovereign onchain central bank," "reflexive monetary policy" — sounds fancy, but underneath it's still a redistribution game, later money paying earlier money.
#DailyOrbit BTC's start in September is a bit twisted. The price returned to 77,600, dropping 1.4% in one day, looking like it's about to crash.
Damn, but looking at the single-day drop together with the capital flow, the conclusion is completely different. On the first day of September, spot BTC ETFs had a net outflow of $236 million, with ARKB redeemed by $115 million, BITB $50 million, and IBIT $33 million.
On the surface, it looks like institutions are exiting, but actually, it's a switch. On the same day, ETH ETFs still had net inflows, and XRP and SOL ETFs were also positive. The money hasn't left; it has just moved from BTC to elsewhere.
The real pressure is macro. WTI crude oil surged to 90.78, the Middle East situation reignited inflation expectations, the 10-year US Treasury yield climbed to 4.79, and the market's probability of a rate hike on September 16 jumped from 41% to 70%.
This reflects one thing: BTC's pricing power is shifting from retail sentiment to institutional hedgers. The latter don't look at candlesticks; they look at real interest rates.
The only framework ordinary people can take away is this—don't use yesterday's volatility to explain today's structure.
#BTCMarket #CryptoMarketStructure #ETFFundFlows The Bitcoin Composite Sentiment Index peaked at 88.11 on August 24 and dropped to 70.05 on September 2, still remaining in the extreme greed zone. During the same period, BTC price slightly fell from $78,680 to $77,640, with sentiment rising without sustained price momentum. Breaking it down, the extreme readings were mainly driven by the Fear and Greed Index (Z-score of +2.19G), while CoinGecko voting was only +0.340, indicating relatively mild participant sentiment; the current extreme greed iWhales went on a buying spree in August, scooping up 60,000 BTC. Why do retail investors always exit early during rebounds?
The latest on-chain data from CryptoQuant reveals the most authentic and harsh reality of the current market's chip distribution.
During this August rebound, whale addresses holding over 100 BTC not only refrained from selling at highs but actually increased their holdings by a full 60,000 bitcoins against the trend; in stark contrast, retail small wallets continuously reduced their positions during the rebound.
Behind retail investors' eagerness to offload chips lies the fear of the "historical September dip," trying to secure profits by trading highs and lows amid volatility; however, the real-money accumulation by institutions and deep-pocketed whales shows they never care about a one- or two-month time window. They exploit retail panic and hesitation to concentrate chips at extremely low friction costs.
This is the classic script of Bitcoin bull market chip transfer: retail investors obsess over short-term micro fluctuations, while whales lock up circulating supply through spot absorption.
When chips move from tens of thousands of impatient short-term traders to wallets with unlimited liquidity buffers, the market's floating selling pressure is effectively drained.
Markets always start while the vast majority are sidelined because the true bottom chips never stay in retail hands.
#BTC高位回落，黄金联动受考验 SOL has been hovering around 100 these days, dropping from 110.5 to 100.4 at the end of August, a decline of 8.3%.
Wow, but two counterintuitive things happened on-chain and in governance. On September 1st, validators voted to double the annual deflation rate from 15% to 30%—new coin issuance slowed down, reducing dilution for long-term holders.
On the same day, the spot SOL ETF recorded its seventh consecutive week of net inflows, with 120 million SOL, about 120 million USD, added in the latest week; corporate treasury DFDV also filed a 20 million USD IPO specifically to buy SOL.
Supply tightening, institutional buying, and corporate hoarding—these three forces are pushing prices up simultaneously, making the structure look very strong.
But the 103 level is very delicate. About 39 million SOL cost basis is clustered around 103, and 66% of leveraged accounts on Binance and OKX are long. Above lies the mechanical liquidation line for the same batch of longs.
Accelerated deflation is a slow variable, crowded longs are a fast variable. Using quarterly logic to withstand minute-level deleveraging is the easiest way to lose money in this cycle.
For ordinary people to remember: bullishness and fragility often appear on the same chart.
#SOLMarket #SolanaDeflation #CryptoMarketStructureOpening DDC Enterprise's 2026 H1 financial report, investors unfamiliar with crypto accounting rules might be easily scared off by the $38.41 million GAAP net loss. But this precisely exposes the lag and distortion of traditional financial statements when recording "Digital Asset Treasury (DAT)" companies: within this huge loss, up to $34.27 million is just a "non-cash unrealized loss" from Bitcoin fair value changes. Removing this layer of paper unrealized loss fog and looking at its underlying operations and balance sheet, this is actually a "reborn" financial report with a dramatic improvement in asset quality. The core business is generating positive cash flow: total revenue is $20.20 million (+29% YoY), and adjusted EBITDA for the core food business is a positive $1.2 million. This means DDC is not a shell company merely inflating through debt issuance; it has physical retail distribution and real cash flow to support daily operations. Working capital surged from -$12.20 million at the end of 2025 to +$39.40 million; net debt plummeted from $60.60 million to $10.20 million; and shareholders' equity attributable to the parent company doubled from $71.20 million to $180.8 million. This indicates the company has almost completely cleaned up high-risk debt through equity capital operations and asset restructuring. Holdings doubled and equity buybacks protected: BTC holdings exploded 145% from 1,181 coins at the end of 2025 to 2,899 coins The total market capitalization only slightly increased by 0.4%, with most major assets moving sideways. But UNI surged 10% in a single day, reaching 5.69, up 29% over seven days.
Wow, this kind of "index stagnant, individual stocks soaring" combination looks like an opportunity but is actually a signal.
It indicates that funds haven't fully withdrawn but are searching for localized alpha. BTC and ETH are still declining on the weekly chart, while DeFi veterans like UNI, NEAR, and AAVE are being rotated into. Narrow leadership means insufficient breadth; money only dares to bet on a few familiar names.
More importantly, structurally: this UNI rally has no new narrative, purely driven by a thin circulating supply plus risk-averse fund clustering. Once the BTC side's interest rate meeting concludes and volatility increases, the clustered holding will loosen first.
September has historically been the weakest month for crypto. Leaders in a weak month often have the greatest elasticity but are also the most vulnerable to backlash.
A framework ordinary people can use: when seeing leaders in a weak month, distinguish between "new money coming in" or "old money hiding in".
#UNI行情 #DeFi轮动 #加密市场结构 August became the busiest month for hackers in 2026. PeckShield counted 50 major security incidents, a 67% month-on-month increase, hitting a new high for the year.
Wow, but the total losses actually dropped to $136.3 million, nearly halving month-on-month. More incidents, smaller amounts—the attackers have shifted to "high-frequency, small-amount" attacks.
The most glaring case was Tectonic. This lending protocol on Cronos had its collateral pricing manipulated, resulting in about $74 million borrowed. Validators directly rolled back the chain to stop the bleeding. But a CoinGecko report shattered a deeper illusion: from early 2025 to July this year, 60% of the 245 incidents had undergone third-party audits before the breach, yet they accounted for 88% of the losses.
The phrase "audited" is turning from a security endorsement into mere psychological comfort.
The attack surface has also changed. In earlier years, it was smart contract vulnerabilities; now it has shifted to infrastructure like private keys, oracles, and cross-chain bridges. Even if the code is written correctly, operations and supply chains still leak.
The only framework ordinary people can follow is one sentence: don’t treat an audit stamp as insurance; look at which layer it protects.
#CryptoSecurity #DeFiRisks #HackerIncidentsThe ETF fund flow report for September 1st is worth a detailed look. BTC spot ETFs saw a net outflow of $181 million, with ARKB, BITB, and IBIT all being redeemed.
Wow, but on the same sheet, ETH ETFs had a net inflow of $48.4 million, with ETHA alone taking in $83.8 million; XRP and SOL ETFs also each saw inflows in the tens of millions.
This is not a retreat, but a rebalancing. Taking "BTC net outflow" alone to shout "institutions are fleeing" is a typical case of quoting out of context. The money is in the same ETF pool, moving from BTC to ETH, XRP, and SOL—this is a position switch, not an exit.
Behind this is the shadow of the September interest rate meeting. U.S. Treasury yields at 4.79%, a 70% chance of a rate hike, funds instinctively reduce exposure to the most rate-sensitive BTC and move to less elastic assets.
The real signal is not "inflows or outflows," but "where the money is flowing."
A framework for ordinary people: when looking at fund flows, always focus on the net structure, not the sign of individual items.
#ETFFundFlow #CryptoMarketStructure #BTCMarket #21 Financial Institutions Plan to Launch USD Stablecoins
Goldman Sachs, Bank of America, Citibank, Deutsche Bank, UBS, Mitsubishi UFJ, and 21 leading global financial institutions jointly announced: an independent joint venture company will be established in the second half of 2026, with the official launch of bank-backed USD stablecoins in the first half of 2027. Subsequently, euro stablecoins will be prioritized, gradually covering mainstream G7 fiat currencies.
The issuance will align with the US GENIUS Act and the EU MiCA crypto regulations, focusing on cross-border settlement and institutional digital asset clearing, while also accommodating wholesale, institutional, and limited retail scenarios. JPMorgan Chase is not part of this alliance as it already has its own JPM Coin system.
Currently, the stablecoin market is dominated by the USDT and USDC duopoly, with a total scale exceeding $250 billion.
This batch of traditional banks entering the market represents "compliant major players stepping in":
1. Advantages: Banks come with reserves, custody, global branches, high compliance thresholds, and strong institutional client resources;
2. Shortcomings: Initially positioned towards institutional clearing, not designed for retail DeFi mining, so it will not rapidly flood public chain pools.
## Two Divergent Market Logics
✅ Positive narrative:
Traditional finance officially embraces on-chain USD at scale. A large amount of traditional institutional capital can flow in and out of digital assets through bank stablecoins, opening up incremental growth in the long term. This is a medium- to long-term positive for BTC overall and will also pressure Circle and Tether to further enhance reserve transparency. The $BTC trend in September was very fragmented. Bitcoin hovered around 77,000 for a full three days; the market looked lukewarm, but above 81,000 there was already a liquidation wall of short positions exceeding $1 billion, like a bomb hanging overhead. Looking back at the previous surge to 81,455, just after breaking the 80,000 mark, the market directly liquidated $2.77 billion in short positions, instantly wiping out countless leveraged short accounts. Now history is repeating itself, with a large number of shorts again clustering at high levels, lining up to be liquidated. The most intriguing contradiction is between the bulls and bears: ✅ On the spot side, Wall Street spot ETFs crazily attracted $3.5 billion in August, hitting the highest inflow in nearly a year; institutions are entering with real money and no leverage. ❌ On the futures side, funding rates have turned negative, and many traders are heavily leveraged, firmly betting on a decline and aggressively shorting. On one side are spot institutions with unleveraged real money; on the other are futures traders with leveraged bearish convictions. In this game, one side has to blink first. The logic of a short squeeze is simple: once the price breaks above 81,338, the $1 billion scale short positions above will trigger concentrated stop losses. Short stop losses equal passive buying, which will further push the price up, triggering more stop losses, starting a meat grinder scenario where shorts face chained liquidations. But we must stay clear-headed; the shadows of geopolitical conflicts and macro interest rate hike expectations remain, so an upward short squeeze is not a guaranteed script. If the market comes under pressure and falls, long positions chased at high levels will also be slaughtered. Two-way liquidation is the norm in the crypto space. Risks that must be understoodThe impact of this ADP Nonfarm Payrolls (August +38,000, significantly below expectations) on Bitcoin:
This time, ADP private employment increased by only +38,000, below the expected 48,000, with significant layoffs in manufacturing and a clear cooling in the labor market. However, after the data release, the fluctuations in the US dollar and gold were restrained, and the market did not show a sharp reaction. The transmission to Bitcoin can be divided into two logical layers:
1. Theoretical bullish logic (weak employment → bullish for BTC)
Bitcoin is a high-beta risk asset, primarily driven by expectations of Federal Reserve monetary policy.
1. A significant weakening in employment indicates a cooling US labor market, leading the market to price in a higher probability of Fed rate cuts;
2. Increased rate cut expectations suppress US Treasury yields and weaken the US dollar index; a weaker dollar and expectations of looser liquidity theoretically favor the strengthening of risk assets like Bitcoin.
2. Real-world constraints: do not directly judge a one-sided rally trend based on this indicator alone
1. ADP is only a leading indicator, not the official nonfarm payroll data;
2. Wages have not collapsed, and the Fed remains focused on inflation;
3. There is a risk of reverse bearish impact due to recession fears;
4. Industry structural divergence causes interference. Checked the $OKB on-chain US stock meme data, and how to put it, it's been dumped again. The old memes on xlayer, niuma just ran away, leaving a half-dead xdog, even dogs despise it.
Attention economy, if anchored by the traditional meaning of "economic value," might itself be a false proposition. For example, trump, xx life, etc., only have collectible and scarcity value under specific conditions. Over a long period, detached from celebrities or expected event effects, they are meaningless, including Dogecoin and dog poop.
What is certain is that memes inherently have topical hotspots, relying on the blessing effect and dissemination effect to achieve secondary wealth redistribution. Sometimes, regardless of whether it's a white cat or a black cat, a business that can heat up the scene and is liked by customers is not necessarily bad. Looking ahead three to five years, a massive number of altcoins were rapidly launched and promoted; are they all valuable investments? Many have ended up zeroed out and delisted.
Those running casinos, the people inside are gamblers by nature. When the boss develops a sense of separation and detaches from the masses, practice will prove they are nothing.Tonight the crypto world is on fire in two ways: one burns positions, the other pumps liquidity.
The US military airstrikes Iran, Brent crude jumps nearly 5%, inflation expectations ignite instantly, and the probability of a rate hike is pushed to a new high for the year. Risk assets collapse accordingly, BTC is kicked down from 80,000 to 76,800, longs lose $150 million in 24 hours, and over 70,000 traders are wiped out.
But the truly deadly fire is in Japan.
Japan's 10-year government bond yield soars to 2.95%—the first time since 1996. The US Treasury just finished pressing Japan, and market expectations for a September rate hike are surging. The carry trade of buying Bitcoin with cheap yen is accelerating its unwind, and the global tap of cheap money is starting to tighten.
Two lines closing simultaneously: one fueled by geopolitical tensions, the other by interest rate expectation differentials.
BTC is caught in the middle. If 76,200 doesn't hold, the next vacuum zones are 74,800 or even 73,000, and those stepping in won’t know where to stand. If ETH breaks 2,400, the longs around 2,360 will be the first to fall.
The biggest issue now is—Japan’s 3% bond yield may not seem like much, but it is the cornerstone of global carry trades. When the base moves, all the blocks on top have to shake.
Set your stop losses well; preserving capital is more important than making money. #BTC高位回落，黄金联动受考验 #戴尔这份财报，表面上是美股科技公司的胜利，背后释放的却是一个更值得币圈关注的信号 全球AI算力军备竞赛不仅没有降温，反而还在加速。 根据戴尔公布的2027财年第二季度数据 🔥 季度营收约470亿美元，同比增长58% 🔥 调整后每股收益7.04美元，远超市场预期的4.91美元 🔥 AI服务器收入164亿美元，同比增长100% 🔥 单季度AI服务器订单609亿美元 🔥 AI服务器积压订单高达950亿美元 🔥 全年AI服务器收入预期从600亿美元上调至740亿美元 财报公布后，戴尔股价盘后上涨约7%，盘前涨幅一度接近10%。数据来源：戴尔官方财报、Reuters。 那么，这件事对加密货币意味着什么？ 第一，AI投资仍在扩张，有利于市场风险偏好。 戴尔订单爆发说明大型科技公司、AI云服务商和企业客户仍在大量购买服务器。只要AI资本开支继续增长，科技股情绪就可能保持活跃，并间接提升资金对BTC、ETH等风险资产的接受度。 但要注意：这只是情绪和资金风格上的间接利好，并不意味着戴尔会直接购买比特币。 第二，Crypto AI与DePIN可能获得更强叙事。 当中心化AI算力需求持续爆The U.S. macro picture just got more complicated. August private payrolls added only 38K jobs, below expectations, reinforcing signs that hiring momentum is cooling. Yet stocks barely reacted: the S&P 500 and Dow opened higher while Nasdaq was almost flat. At the same time, AI demand is telling a completely different story. Dell jumped after reporting a record $60.9B AI-server order backlog, while GitLab surged on strong recurring-revenue growth. Credo, however, sold off hard despite beating eaTonight there are two fires in the crypto world: one burning positions, the other pumping liquidity.
The US military airstrikes Iran, Brent crude jumps nearly 5%, inflation expectations ignite instantly, and the probability of a rate hike is pushed to a new high for the year. Risk assets collapse accordingly, BTC is kicked down from 80,000 to 76,800, longs lose $150 million in 24 hours, and over 70,000 traders are wiped out.
But the truly deadly fire is in Japan.
Japan's 10-year government bond yield soars to 2.95%—the first time since 1996. The US Treasury just finished pressing the Japanese side, and market expectations for a September rate hike are surging. The carry trade of buying Bitcoin with cheap yen is accelerating its unwind, and the global tap of cheap money is starting to tighten.
Two lines closing simultaneously: one fueled by geopolitical tensions, the other by interest rate expectation differentials.
BTC is caught in the middle. If 76,200 doesn't hold, the next support zones are 74,800 or even 73,000, a vacuum where buyers won’t know where to stand. If ETH breaks 2,400, the longs around 2,360 will be the first to fall.
The biggest issue now is—Japan’s 3% bond yield may not seem like much, but it is the cornerstone of global carry trades. When the base moves, all the blocks on top shake.
So some might ask: how to trade this market?
Honestly, I’ve been keeping my positions very light these days. Until there’s a clear short-term direction, keep your hands tied behind your back and eyes on US-Iran news and Japanese bond yields. The real test is Friday’s nonfarm payrolls, expected at 61,000 with a 4.0% unemployment rate—that’s the real showdown. Charging in now is a life-or-death gamble.
But there are still opportunities in the crash. While BTC is getting hit, DeFi is celebrating—UNI surged over 12% in a day, CRV over 16%. The money hasn’t fled far, just switched battlefields. There must be institutions manipulating this—what are they seeing that retail traders aren’t?
If you can’t figure it out, don’t overthink it; just focus on what matters.
Tonight, don’t stare at candlesticks counting money. Keep your eyes on Japan’s 10-year government bond yield. If 2.95% keeps pushing higher, the long positions at 76,200 could sink faster than Middle Eastern oil tankers.
Set your stop losses well; survival is more important than profit.
$BTC $ETH
#霍尔木兹风险升温，能源通胀受关注
#日本长债收益率升至高位
#Robinhood链上放量，币股Meme引争议 $MU $SNDK $SKHYNIX
babala caught the dip again tonight.
This time I went long on MU around 920, and now the price has risen to about 955.
Based on cost calculation, the current unrealized profit is $35, an increase of about 3.8%.
MU briefly dropped to around 918 in pre-market tonight, then quickly recovered the loss. This movement is more interesting than a simple rise because the external sentiment tonight was actually not very good, with oil prices and US Treasury yields rising, and tech stocks generally under pressure before the open.
But after MU dropped, funds quickly stepped in to support.
I tend to believe that there are three main reasons for this rise tonight.
The first is that 918–920 itself is a short-term support zone.
The price quickly dropped to this level but did not continue downward, indicating that selling pressure at the low level began to weaken, and funds waiting for a pullback chose to enter. After the price stopped falling, short covering and bottom-fishing funds together pushed the rebound.
The second is the industry catalyst brought by Dell's latest earnings.
Dell's AI server revenue reached $16.4 billion, a 100% year-over-year increase; AI server orders reached $60.9 billion, with backlog orders even reaching $95 billion.
The more servers sold, the more HBM, DRAM, and storage products are needed. Although this is not MU's own announcement, it again proves that demand for AI infrastructure has not noticeably cooled, which naturally is a positive industry signal for MU.
The third is still MU's own fundamentals.
MU's revenue last quarter reached $41.46 billion, a record high, and Q4 guidance is around $50 billion. The market is still trading on the logic of AI storage demand, memory price increases, and tight supply.
So this rise from 918 to 955 tonight, I think, is both an oversold rebound and fundamental funds re-entering, not just a sudden rise without reason.
However, from the price structure perspective, above 955 is already close to a new resistance zone.
My plan is:
✔ Take profit on one-third to one-half of the position between 955–960
✔ If volume increases and price stabilizes above 960, hold the remaining position targeting 968–975
✔ If it rallies then falls back below 950, continue to reduce the position
✔ Move the short-term stop-loss up to 944–946, no longer use the original 915 stop-loss
If 960 cannot be broken through, it means selling pressure near the previous close remains, and I will prioritize protecting the profits already made.
If it can break through 960 with volume and hold on a pullback, it means this is not just a rebound but also a possibility of further upward repair.
Buying at 920 was because the downside risk was easier to control.
Now at 955, the focus is no longer on how much more it can rise, but on how to prevent this profitable trade from turning back into a loss.
Daring to catch the dip is a skill, and being willing to take profits when it rises is the same.$FIL is a veteran leader in the storage sector. Why has it been steadily declining from over 200 down to just a few cents? What are the reasons behind this? And is its recent rebound due to renewed market demand? FIL itself is a veteran leader in the storage track, and its biggest difference from most vapor coins ($LAB $RAVE) is that it truly has a real network, real business, and real customers. However, the problem is that the token's value capture has always been relatively weak. But its disa$HOOD is worth paying attention to. You can simply think of Robinhood as the American young generation's prototype of "Alipay + East Money/Tiger Brokers + Coinbase".
It originally gained popularity by offering zero-commission trading on U.S. stocks. Previously, retail investors in the U.S. had to pay a commission for every stock trade. After Robinhood was founded in 2013, it promoted zero-commission stock trading, which caused a huge impact at the time. Later, a number of traditional U.S. brokerages also followed suit with zero commissions.
Therefore, its core users from the start were small retail investors and young people, combined with mobile stock trading. It can be understood as the lower-tier market of the stock world, or as an extremely internet-oriented retail brokerage in the U.S., similar to TikTok or Pinduoduo in the brokerage industry.
Now Robinhood offers quite a lot of products. Besides U.S. stocks, ETFs, and options, it also allows buying cryptocurrencies and futures. Today's Robinhood increasingly resembles a unified personal investment account, focusing on offering everything you can buy.
How does Robinhood make money after going public? I checked, and as of the end of last year, it already has 11 business lines with annualized revenue exceeding $100 million. I have included the details in the image below for those interested to take a look. Don't conclude that the AI storage rally is not over just because of capital inflows and a single-day surge of 5%.
The short-term capital inflow surge in $SNDK looks like a market restart, but a single-day gain only represents short-term capital speculation and cannot directly confirm the start of a new major uptrend. Mizuho's downgrade of the target price to $1875 already signals a marginal contraction in institutional sentiment. Even if profit expectations are optimistic, a 5x profit growth in the future is a long-term forecast, and a large part of this optimism has already been priced into the stock.
SanDisk and Kioxia's $31 billion expansion plan is also a double-edged sword. While capacity expansion can match incremental AI storage demand in the long term, the increased supply in the future will compress product premium space, which is not purely positive.
It is true that the fundamental logic has not collapsed, but the core contradiction remains unchanged: this year's huge gains have pushed valuations to high levels. Even if real AI demand continues to explode, the biggest risk for high-priced stocks is valuation correction. The previous suggestion to realize some positions was reasonable; good fundamentals do not equal the stock price continuing to surge in the short term. Whether the rally can continue depends not only on positive stories but also on sustained volume growth and the liquidity environment of U.S. Treasury bonds. Positive news at high levels can easily become a window for capital to exit on rallies.The moment the chess clock was pressed, I already saw the board twenty moves ahead—the money rushing in the last second before the close is not from speculators, but passive players watching the king's wing direction to move the bishop. After MSCI completes this "exchange," SanDisk acts like a pawn promoted on the baseline, crossing the 700-day moving average rook, breaking through the cost siege to gain a real profit of 5.5%.
This is not just a price increase; it is clearly the most classic lesson in opening theory: the essence of passive funds' moves is "respond as required"—they follow the book, not their own will. True masters focus on the depth of the battlefield: the $31B Japanese NAND stronghold expanding from 2032 forms a double-rook connection with Kioxia. This is a long midgame rook battle, where the critical point is not the baseline's shout but the center's momentum—AI and cloud SSD demand act like the central pawn chain; each step forward threatens the entire NAND pricing defense line.
Those who only look at intraday charts are as foolish as pawns staring at the corner of the board. They measure a ten-inch board with a one-inch gaze and mistake the opponent's pawn in front of the king for the king himself. SanDisk's customer agreements, gross margin boundaries, and expansion pace—these are the hidden lines in the chess score that determine the game's direction. The market breaking through the $1,500 mark is just a light clap at the door; the real main rook is slowly pressing forward along the broad rook line from 2025 to 2032.
We in this industry know a secret: the most valuable moves often look like "sacrifices." On the surface, Passive flows are forcibly arbitraging according to the book, but in reality, they temporarily sacrifice some chasing bids in the high-level sideways area to concentrate heavy troops on the NAND board's c-line with Kioxia and SanDisk, forcing AI storage orders into a counterattack. On the board, when the opponent is forced to adjust to your preset area, you gain positional advantage.
And now, this game is far from the midgame. The afterglow of May falls on the board's flank—after the index rebalance, the real follow-up lies in the mutual exchange of supply and demand. Who will reveal a weakness on the king's wing, and who will be forced to trade rook for bishop? This ten-year NAND pricing power game, the black side's clock has already started ticking, and every data move reduces the available Talash moments.
But I don't intend to look closely at the next move. The master's gaze has already penetrated the 2032 board's iron and silicon endgame before the move. #sandiskmscirebalanceSanDisk dropped from 1609 to 1513 in one day, the first crack in the AI storage myth
A stock that has risen fivefold since the beginning of the year saw a 6.17% intraday swing yesterday, with $18.2 billion in trading volume and an 8% turnover rate. This is not a pullback; someone is seriously exiting.
Last night the entire chain collapsed together: SanDisk $xSNDK closed at $1536.87, down 1.90%, Micron MU fell 2.64% to 933.44, SK Hynix ADR dropped 2.41%, Nvidia intraday fell as much as 3.25%, closing at 217.44 down 1.51%, the Philadelphia Semiconductor Index dropped over 3% intraday, Intel fell nearly 4% intraday. The A-share memory index also fell 2.95%.
This is not the AI narrative collapsing; it’s that interest rates have increased the valuation denominator. Storage is essentially a "cyclical stock in AI." SanDisk has risen 500% this year, Western Digital 200%. The more aggressively a stock has risen, the looser the chips are priced before interest rate hikes. With the probability of a rate hike in September approaching 70% and the 10-year yield rising to 4.8%, the first to be taken profit on will definitely be these highly elastic, heavily hyped sectors.
Intel’s drop was even more severe than Nvidia’s, indicating the market is more conservative in pricing "non-AI computing power," and the adjustment has spread from a single track to the entire capital expenditure chain. Broadcom’s earnings report this week is the next test point.BTC ETF buyers are back, but Bitcoin instead fell back to $77,000.
From August 17 to 27, there were 9 consecutive days of net inflows, totaling 3 billion. BlackRock's IBIT contributed 3 billion in one day. BlackRock's IBIT contributed 206 million in one day. But BTC did not rise; it fell.
The reason is simple: ETF buying pressure is strong, but macro selling pressure is stronger. Oil price $90+, 10-year Treasury yield 4.8%, September rate hike probability over 60%. Interest rates are suppressing risk assets.
But from another perspective: 3 billion poured in, BTC can still hold at 77,000, indicating there are buyers at the bottom.
Next, only one thing matters: can BTC retake $80,000? If it does, the second phase of the rally will start. If not, the buying pressure is being eaten up by profit-taking.The steel reinforcements beneath the foundation are still roaring, yet Bessent wants to chisel windows into the load-bearing walls—he says to relax capital constraints on small banks, allowing the concrete slurry of credit to pour between the beams and columns of the real economy. But the 10-year US Treasury yield has already surged to 4.75%, like a steel rebar piercing through a twenty-month construction dome, hanging over the tempered glass of first class. Walsh clenches his hawkish steel nails, while oil prices and long-term bond supply pile up high-pressure slurry outside the foundation pit; high interest rates continue to be welded shut without loosening.
The true load-bearing wall of this market construction site is the liquidity of US Treasuries. The Treasury Department announced plans to increase the scale of long-term bond repurchases, equivalent to the construction team bringing in a heavier crawler crane, trying to hoist the distorted yield curve back to its design elevation. The bond market structure has not collapsed because this hand is supporting it from below. But you cannot step on the concrete during its initial setting period—every step of credit expansion changes the stress distribution of the entire building. Equipment loans, manufacturing loans, tech loans—pouring that money into the supply-side floor slabs is like adding a layer to the real economy, which can share the cost load in the future; but money that stimulates consumption and price speculation is like secretly stacking bricks outside the load-bearing wall, looking lively in the short term, but eventually all that heat transmits back to the interest rate center, becoming a new round of pulling force.
Thus, the market has reached a node not recorded in the construction log: credit growth rate is the upcoming design change order for the entire macro structure. If credit expands wildly and the debt reinforcement ratio cannot keep up, owners will face higher interest castings on refinancing maturity dates, which is called a break in the repayment chain. If credit loosens moderately, the money supplied to production-end equipment upgrades can dilute costs in the future, reducing the building’s own weight, and interest rates will not continue to be welded shut on the 4.75 steel beam.
Looking again at XDELL—the US stock Token target’s linkage line drawn on the market blueprint actually represents the elevator shaft of this financial construction site: which floor it reaches depends on whether Bessent’s design change lands to make the building more stable or lets the wind load fully bear on the glass curtain wall. Steel prices are already rising, the smell of asphalt is drifting out from the construction site barriers; whoever is waiting to see the final settlement value of this credit elevation, whoever is waiting to hammer the final inspection on this reaction curve—time is the concrete’s setting period, and if the heat of hydration cannot be controlled, cracks will reset all the blueprints to zero. #bessentcapitalrelief$SNDK don't assume 1500 can be easily defended.
The year-to-date surge and high valuation, combined with the current US Treasury yield approaching 4.8% and rising oil prices, are very unfavorable for long-duration assets like AI storage. Analyst target prices show extreme divergence, so the optimistic average has limited reference value.
1500 is just a psychological barrier, not a firm support; only a stable break above 1600 with volume confirmation can signal a strengthening trend. Simply layering by price level can easily be misled by false recoveries.
There is heavy profit-taking at high levels. Rather than betting on support, be more cautious of the risk of a breakdown and weakening driven by macro variables.
Do you think this is a consolidation phase or the start of risk release at high levels?
⚠️ Opinions are for communication only and do not constitute investment advice
$SNDK🔥 UNI just surged nearly 15% in one day, surpassing $6 and hitting an 8-month high. But is this a rocket... or a ticking time bomb? 💣🚀
The momentum behind this pump is no small matter.
Robinhood Chain has locked about $734M, while Uniswap generated around $9.24M in fees within 24 hours on this chain. The UNIfication mechanism also channels part of the fees into burning UNI, adding to the supply reduction narrative.
At the same time, Futures Open Interest rose to about $500M, the highest since last November.
#DailyOrbit $TRUMP TRUMP token team address transferred out 11.01 million TRUMP ($26.65 million) yesterday.
After multiple transfers across several addresses, 2 million ($4.78 million) were transferred into Binance 6 hours ago.
No wonder it’s not going up, the project team has no vision and keeps selling 😂Starting September 1, Russia's digital currency policy undergoes a substantial shift, with Bitcoin, Ethereum, and USDT officially incorporated into a regulated trading framework. Unlike simple "legalization," the key to this adjustment lies in the institutional channel: exchanges, brokers, and digital custody institutions are assigned clear roles, filling the long-missing infrastructure gap for institutional capital entry. What truly deserves attention is the signal at the capital level. SberbanA strange divergence is developing in the Bitcoin market. 🟠 BTC has recovered toward the $80K region, improving mining economics and pushing hashprice higher. ⚡ Yet network hashrate remains well below its previous peak, and operators continue shutting down older or less efficient mining rigs. Some mining firms are even redirecting power and infrastructure toward AI and HPC businesses instead of bringing capacity back online. Why it matters: ✅ Lower hashrate → lower mining difficulty over time The conflict between the US and Iran flares up again, why did $BTC first break below $76,500? The crypto market suddenly changed after the US military attacked Iran again, oil prices rose, US Treasury yields briefly increased, and BTC immediately fell below $76,500. This indicates that when local geopolitical conflicts occur, the capital market still regards Bitcoin as a high-volatility risk asset rather than a "digital gold" to buy. War drives up oil prices, which also increases inflation and i$ANIME US-listed SanDisk fell 1.9%, while the crypto stock version of SanDisk rose 4.34% overnight — who is front-running? $xSNDK $SNDK
Many friends previously asked about the difference between crypto stocks bought on exchanges and stocks bought through brokers outside. Now SanDisk has given everyone a harsh lesson!
The same company, two markets, opposite directions. This is the entire meaning of "crypto stocks" and also their biggest pitfall.
Last night's data: tokenized SNDK reported $1568, up 4.34%, with a trading volume of 6.4 billion, amplified by 38%; SpaceX's SPCX reported 143, up 0.47%, with a trading volume of 2.1 billion, also amplified by 38%; SK Hynix fell 1.69%. After the US stock market closed, the crypto market continued trading, effectively opening a night session that pre-prices the US stock market. This money is clearly betting on storage replenishment and aerospace defense benefiting from the Middle East.
There are at least three types of so-called "crypto stocks," with completely different legal natures. Backpack's SPCX is a 1:1 token with real stock custody and redeemable, closest to actual shareholding; xStocks are tracking certificates, with Kraken explicitly stating "no shareholder rights"; Hyperliquid's SPCX is cash-settled perpetuals, having nothing to do with equity.
SpaceX IPO'd in June at $135, raising 75 billion, the largest in history, opened at 150, peaked at 164, now at 143. Many want to ride its wave, but very few can truly give you shares. Before buying, make sure you understand whether you are buying stocks, certificates, or bets.$WLFI SanDisk US stock fell 1.9%, while the crypto-stock version of SanDisk rose 4.34% overnight — who's front-running? $xSNDK $SNDK
Many friends previously asked about the difference between crypto stocks bought on exchanges and stocks bought through brokers outside. Now SanDisk has given everyone a harsh lesson!
The same company, two markets, opposite directions. This is the entire meaning of "crypto stocks" and also their biggest pitfall.
Last night's data: tokenized SNDK reported $1568, up 4.34%, with a trading volume of 6.4 billion, amplified by 38%; SpaceX's SPCX reported $143, up 0.47%, with a trading volume of 2.1 billion, also amplified by 38%; SK Hynix fell 1.69%. After the US stock market closed, the crypto market continued trading, effectively opening an early pricing night session for US stocks. This wave of money is clearly betting on storage replenishment and aerospace defense benefiting from the Middle East.
There are at least three types of so-called "crypto stocks," with completely different legal natures. Backpack's SPCX is a 1:1 token backed by real stock custody and redeemable, closest to actual shareholding; xStocks are tracking certificates, with Kraken explicitly stating "no shareholder rights"; Hyperliquid's SPCX is cash-settled perpetuals, having nothing to do with equity.
SpaceX IPO'd in June at $135, raising $75 billion, the largest in history, opened at $150, peaked at $164, now at $143. Many want to ride its wave, but very few can truly give you shares. Before buying, make sure you understand whether you're buying stock, a certificate, or a bet.$DOS US-listed SanDisk fell 1.9%, while the crypto-stock version of SanDisk rose 4.34% overnight — who's front-running? $xSNDK $SNDK
Many friends previously asked about the difference between buying crypto stocks on exchanges and buying stocks through brokers outside. Now SanDisk has given everyone a harsh lesson!
The same company, two markets, opposite directions. This is the entire meaning of "crypto stocks" and also their biggest pitfall.
Last night's data: tokenized SNDK reported $1568, up 4.34%, with a trading volume of 6.4 billion, amplified by 38%; SpaceX's SPCX reported 143, up 0.47%, with a trading volume of 2.1 billion, also amplified by 38%; SK Hynix fell 1.69%. After the US stock market closed, the crypto market continued trading, effectively opening an early pricing night session for US stocks. This money is clearly betting on storage replenishment and aerospace defense benefiting from the Middle East.
There are at least three types of so-called "crypto stocks," with completely different legal natures. Backpack's SPCX is a 1:1 token with real stock custody and redeemable, closest to actual shareholding; xStocks are tracking certificates, with Kraken explicitly stating "no shareholder rights"; Hyperliquid's SPCX is cash-settled perpetual, with no relation to equity.
SpaceX IPO'd in June at $135, raising $75 billion, the largest in history, opened at 150, peaked at 164, now at 143. Many want to ride its wave, but very few can truly give you shares. Before buying, make sure you understand whether you're buying stocks, certificates, or just bets. $UNITREE US stock SanDisk fell 1.9%, crypto stock version SanDisk rose 4.34% overnight — who is front-running? $xSNDK $SNDK
Many friends previously asked about the difference between buying crypto stocks on exchanges and buying stocks through brokers outside? Now SanDisk has given everyone a harsh lesson!
The same company, two markets, opposite directions. This is the entire meaning of "crypto stocks" and also its biggest pitfall.
Last night's data: tokenized SNDK reported $1568, up 4.34%, trading volume 6.4 billion, amplified by 38%; SpaceX's SPCX reported 143, up 0.47%, trading volume 2.1 billion, also amplified by 38%; SK Hynix fell 1.69%. After the US stock market closed, the crypto market continued trading, effectively opening an early pricing night session for US stocks. This money is clearly betting on storage replenishment and aerospace defense benefiting from the Middle East.
There are at least three types of so-called "crypto stocks," with completely different legal natures. Backpack's SPCX is a 1:1 token with real stock custody and redeemable, closest to holding shares; xStocks are tracking certificates, Kraken explicitly states "no shareholder rights"; Hyperliquid's SPCX is cash-settled perpetual, with no relation to equity.
SpaceX IPO'd in June at $135, raising 75 billion, the largest in history, opened at 150, peaked at 164, now at 143. Many want to ride its wave, but very few can truly give you shares. Before buying, make sure you understand whether you are buying stocks, certificates, or bets. $LAB US-listed SanDisk fell 1.9%, while the crypto stock version of SanDisk rose 4.34% overnight — who's front-running? $xSNDK $SNDK
Many friends have asked before about the difference between buying crypto stocks on exchanges and buying stocks through brokers outside. Now SanDisk has given everyone a harsh lesson!
The same company, two markets, opposite directions. This is the entire meaning of "crypto stocks" and also their biggest pitfall.
Last night's data: tokenized SNDK reported $1568, up 4.34%, with a trading volume of 6.4 billion, amplified by 38%; SpaceX's SPCX reported 143, up 0.47%, with a trading volume of 2.1 billion, also amplified by 38%; SK Hynix fell 1.69%. After the US stock market closed, the crypto market continued trading, effectively opening an early pricing night session for US stocks. This money is clearly betting on storage replenishment and aerospace defense benefiting from the Middle East.
There are at least three types of so-called "crypto stocks," with completely different legal natures. Backpack's SPCX is a 1:1 token with real stock custody and redeemable, closest to actual shareholding; xStocks are tracking certificates, with Kraken explicitly stating "no shareholder rights"; Hyperliquid's SPCX is cash-settled perpetual, with no relation to equity.
SpaceX IPO'd in June at $135, raising 75 billion, the largest in history, opened at 150, peaked at 164, now at 143. Many want to ride its wave, but very few can truly give you shares. Before buying, make sure you understand whether you're buying stocks, certificates, or just a bet. $PUMP SanDisk in US stocks fell 1.9%, while the crypto-stock version of SanDisk rose 4.34% overnight — who is front-running? $xSNDK $SNDK
Many friends have asked before about the difference between buying crypto stocks on exchanges and buying stocks through brokers outside. Now SanDisk has given everyone a harsh lesson!
The same company, two markets, opposite directions. This is the entire meaning of "crypto stocks" and also its biggest pitfall.
Last night's data: tokenized SNDK reported $1568, up 4.34%, with a trading volume of 6.4 billion, amplified by 38%; SpaceX's SPCX reported $143, up 0.47%, with a trading volume of 2.1 billion, also amplified by 38%; SK Hynix fell 1.69%. After the US stock market closed, the crypto market continued trading, effectively opening an early pricing night session for US stocks. This wave of money is clearly betting on storage replenishment and aerospace & defense benefiting from the Middle East.
There are at least three types of so-called "crypto stocks," with completely different legal natures. Backpack's SPCX is a 1:1 token with real stock custody and redeemable, closest to actual shareholding; xStocks are tracking certificates, with Kraken explicitly stating "no shareholder rights"; Hyperliquid's SPCX is cash-settled perpetual, with no relation to equity.
SpaceX IPO'd in June at $135, raising $75 billion, the largest in history, opened at $150, peaked at $164, now at $143. Many want to ride its wave, but very few can truly give you shares. Before buying, make sure you understand whether you are buying stocks, certificates, or just a bet. $UNI US-listed SanDisk fell 1.9%, while the crypto stock version of SanDisk rose 4.34% overnight — who's front-running? $xSNDK $SNDK
Many friends have asked before about the difference between crypto stocks bought on exchanges and stocks bought through brokers outside. Now SanDisk has given everyone a harsh lesson!
The same company, two markets, opposite directions. This is the entire meaning of "crypto stocks" and also their biggest pitfall.
Last night's data: tokenized SNDK reported $1568, up 4.34%, with a trading volume of 6.4 billion, amplified by 38%; SpaceX's SPCX reported $143, up 0.47%, with a trading volume of 2.1 billion, also amplified by 38%; SK Hynix fell 1.69%. After the US stock market closed, the crypto market continued trading, effectively opening an early pricing night session for US stocks. This money is clearly betting on storage replenishment and aerospace defense benefiting from the Middle East.
There are at least three types of so-called "crypto stocks," with completely different legal natures. Backpack's SPCX is a 1:1 token with real stock custody and redeemable, closest to actual shareholding; xStocks are tracking certificates, Kraken explicitly states "no shareholder rights"; Hyperliquid's SPCX is cash-settled perpetual, with no relation to equity.
SpaceX IPO'd in June at $135, raising $75 billion, the largest in history, opened at $150, peaked at $164, now at $143. Many want to ride its wave, but very few can truly give you shares. Before buying, make sure you understand whether you're buying stocks, certificates, or bets. $USELESS US-listed SanDisk fell 1.9%, while the crypto stock version of SanDisk rose 4.34% overnight — who is front-running? $xSNDK $SNDK
Many friends previously asked about the difference between crypto stocks bought on exchanges and stocks bought through brokers outside. Now SanDisk has given everyone a harsh lesson!
The same company, two markets, opposite directions. This is the entire meaning of "crypto stocks" and also their biggest pitfall.
Last night's data: tokenized SNDK reported $1568, up 4.34%, with a trading volume of 6.4 billion, amplified by 38%; SpaceX's SPCX reported 143, up 0.47%, with a trading volume of 2.1 billion, also amplified by 38%; SK Hynix fell 1.69%. After the US stock market closed, the crypto market continued trading, effectively providing an early pricing night session for US stocks. This wave of money is clearly betting on storage replenishment and aerospace defense benefiting from the Middle East.
There are at least three types of so-called "crypto stocks," with completely different legal natures. Backpack's SPCX is a 1:1 token with real stock custody and redeemable, closest to actual shareholding; xStocks are tracking certificates, with Kraken explicitly stating "no shareholder rights"; Hyperliquid's SPCX is cash-settled perpetual, with no relation to equity.
SpaceX IPO'd in June at $135, raising 75 billion, the largest in history, opened at 150, peaked at 164, now at 143. Many want to ride its wave, but very few can truly give you shares. Make sure you understand whether you are buying stocks, certificates, or bets before purchasing. $BTC SanDisk on US stock market fell 1.9%, while the crypto stock version of SanDisk rose 4.34% overnight — who is front-running? $xSNDK $SNDK
Many friends previously asked about the difference between buying crypto stocks on exchanges and buying stocks through brokers outside. Now SanDisk has given everyone a harsh lesson!
The same company, two markets, opposite directions. This is the entire meaning of "crypto stocks" and also its biggest pitfall.
Last night's data: tokenized SNDK at $1568 up 4.34%, trading volume 6.4 billion, amplified 38%; SpaceX's SPCX at $143 up 0.47%, trading volume 2.1 billion also amplified 38%; SK Hynix down 1.69%. After the US stock market closed, the crypto market continued trading, effectively opening an early pricing night session for US stocks. This money is clearly betting on storage replenishment and aerospace defense benefiting from the Middle East.
There are at least three types of so-called "crypto stocks," with completely different legal natures. Backpack's SPCX is a 1:1 token with real stock custody and redeemable, closest to actual shareholding; xStocks are tracking certificates, Kraken explicitly states "no shareholder rights"; Hyperliquid's SPCX is cash-settled perpetual, with no relation to equity.
SpaceX IPO'd in June at $135, raising $75 billion, the largest in history, opened at $150, peaked at $164, now at $143. Many want to ride its wave, but very few can truly give you shares. Before buying, make sure you understand whether you are buying stocks, certificates, or just a bet.