Orbit Post Sitemap
$PENGU
Pudgy Penguins grew from an NFT collection into a consumer brand with toys and a token. That crossover gives PENGU reach most memecoins lack. Still, brand strength and token demand are different things, so attention cycles deserve caution.
$S$S
Sonic is the rebranded evolution of Fantom, built for fast finality and an incentive program that rewards developers. A rebrand resets the narrative, not the fundamentals. Developer retention and sustained app usage will show whether the reset worked.$xBRKB $Berkshire Hathaway announced its Q3 earnings before the market opened on November 7 Eastern Time. Overall, this is a quarterly report showing a slight decline in operating profit, pressure on insurance, cash hitting a new high, and a significant acceleration in buybacks. Business breakdown: The insurance segment weakened noticeably. Third-quarter underwriting profit was only $1.352 billion, down about 43% year-over-year; insurance investment income also fell from $3.181 billion to $2.734 billion. The main reasons are increased claims pressure, intensified competition, and a decline in fixed income reinvestment returns in a rate-cut environment. The industrial segment showed strong resilience. BNSF Railway operating profit was $1.729 billion, up about 19% year-over-year; Berkshire Energy $1.612 billion, up about 8%; manufacturing, service, and retail segment $4.042 billion, up about 12%. Investment income dragged down net profit. Third-quarter net investment income was $9.407 billion, lower than $17.311 billion in the same period last year. Berkshire again reminds that GAAP net profit includes unrealized gains and losses on holdings, which fluctuate greatly; operating profit should be the main measure for evaluating business performance. Capital allocation signals: The most noteworthy aspect of this report is not the slight profit decline, but the combination of cash and buybacks: ● Cash rose to $377.4 billion, indicating the company still cannot find enough sufficiently cheap acquisition targets; ● Third-quarter buybacks totaled $9.6 billion, making it the highest within the year $UUP
How long can the US dollar's employment support last?
The US added 165,000 nonfarm jobs in October, with an unemployment rate of 4.1%. The data strengthens evidence of the US economy's resilience, but the dollar's price trades on the relative path between the US and other economies.
Good US data only more likely provides sustained support if growth or interest rate advantages continue to expand. If overseas economies improve simultaneously, the dollar's relative advantage may not continue to increase.
I observe whether changes in interest rate differentials align with subsequent data. If the US advantage expands and capital flows persist, the dollar's logic is more complete; if strong data is just a single-month fluctuation and the interest rate differential narrows, expectations for continued dollar strength need to be lowered.【Follow Old Leeks, Wealth Is Yours】$POL: 70.49 million stolen tokens are planned to be recovered through a hard fork, Polygon is conducting a governance stress test!
Recently, a special proposal appeared in the Polygon community: it plans to coordinate a hard fork to transfer approximately 70.49 million native POL tokens stuck in attacker addresses from two security incidents back to the recovery addresses designated by Polymarket and Binance.
Among them:
Polymarket-related: about 23.86 million POL
Binance-related: about 46.63 million POL
According to the proposal's reference price, the total is about 6.5 million USD.
Note: This is neither a burn nor a buyback. The proposal clearly states that the total supply remains unchanged before and after the transfer.
What is truly worth noting is: can the blockchain recover stolen assets through governance and consensus upgrades during special security incidents? Meanwhile, Polygon also proposed the PIP-93 draft, planning to consolidate multiple security committees into an 11-member Security Council, adopting an 8/11 multisig threshold and a 7-day Timelock.
However, both matters still require subsequent governance and technical execution and should not be considered completed positive developments yet.Every time I see the overall inflation at 4% and core inflation at 2.5% side by side, I pause for a moment: which one should I really be afraid of?
Lagarde has made the calculation clear this time. A large part of the 4% is oil and gas; energy inflation surged from 18.9% to 20.8%, and food prices followed suit. If you exclude energy, food, and tobacco and alcohol, the core is 2.5%, exactly the same as in September.
Oil and gas prices will fall, but the core won’t fall on its own—that’s common sense. So when she says it will remain high for the next few quarters, I believe it.
The painful part is for those holding $BTC; even though the core hasn’t moved, they still have to wait a few more months for rate cuts. $ETH is even worse—rises are the steepest, and waiting is the most agonizing.The more it falls, the more people buy; it looks like they're picking up bargains, but in fact, they're quietly pushing the risk lower. In this wave of decline, the order book is getting thicker and thicker— is this really an opportunity? I've been watching the order books of $SNDK and $MU these past two days, and I have a very subtle feeling. On the surface, the buy orders are dense, but the price keeps dropping step by step; the excitement and the direction are completely misaligned. Many call this action "averaging down," but from another perspective, every time more positions are added, the stop-loss level is also pushed lower, so the risk hasn't disappeared; it's just been postponed. What's even more interesting is the preference of capital. The buy side is clearly several times thicker than the sell side, yet the price is still being pushed down, indicating that the real transaction direction is not on the buyers' side. While one side is taking in shares, the other is offloading; the more orders pile up, the easier it is for the price to continue sliding down. This isn't about anyone targeting anyone else; it's that those with heavy positions are gradually narrowing their own escape routes. The bullish logic isn't without merit either. If this is the start of a trend, this dense absorption could become excellent fuel; once selling pressure eases, the rebound will be fast and sharp, and altcoins and risk appetite will warm up accordingly. But right now, it feels more like a phase of divergence, even a bit like distribution. With each further drop, the speed at which unrealized losses grow doubles; the heavier the position, the more likely it is to be dragged down by one's own holdings rather than being harvested by the market. So now, I prefer to see this kind of order stacking as a gauge of sentiment rather than a bottom-fishing signal. The real turning point depends on whether volume cooperates and whether selling pressure truly thins out. Thick orders don't equal the bottom. You can't stack orders to create a bottom.SanDisk rebounded all night but fell back in just half a day
The night before yesterday, SanDisk followed chip stocks to rebound near 910.
Today it dropped back below 850.
Where did this money come from:
The gainers were computing power stocks like AMD and TSMC.
The storage sector didn’t keep up; SanDisk’s rebound was on its own.
How is this number calculated:
The drop from 1400 to 950 was all people buying halfway through.
Once the price went up, this batch of orders started selling out.
The weak rebound isn’t because no one is buying, but because sell orders waiting to break even are pressing down from above.
Storage price cuts have just begun, and SanDisk is at the forefront of this chain.
The batch of sell orders placed at Monday’s open is still waiting in place.
#Anthropic仍计划11月IPO，投资者下调估值预期
#$AMD Today's drop is not just a problem within the crypto circle, but a concentrated outbreak of risks from the US stock market, macro sentiment, and the crypto market. 1. AI bubble concerns trigger US stock sell-off The market is starting to question whether the huge AI investments by tech giants can bring corresponding returns. The Nasdaq plunged, the semiconductor sector collectively dived, with Nvidia, AMD, MU, SNDK, etc. under pressure, and risk capital began to withdraw. 2. Trump’s company tran#软银重金押注OpenAI，Q2财报能否交出亮眼成绩？ Looking at the numbers alone, this Q2 report is impressive enough; OpenAI's valuation surge has directly pushed SoftBank to its highest half-year profit in history. But this impressive figure is just paper wealth; the real test lies ahead: whether OpenAI can continue to deliver revenue growth, successfully go public, and maintain its valuation will ultimately determine the success or failure of this heavy investment.Lagarde herself presented the numbers: Europe's overall inflation in October was 4%, higher than the expectations from a few months ago but in line with market forecasts. This statement sounds mild but is actually firm on both ends—the expectations were revised upward, but the market had already anticipated this.
Breaking it down, the 4% is not a uniform increase. Energy inflation jumped from 18.9% in September to 20.8%, and food prices are also rising. Meanwhile, core inflation, which excludes energy, food, alcohol, and tobacco, remains at 2.5%, exactly the same as in September; service sector inflation is at 3.3%, slightly up but still within the range of the past four months.
This is the key point: what is rising is the price level, not an inflation spiral. Energy is a cost shock, a one-time step up that affects the overall number but does not automatically impact the core. The real determinants of monetary policy are core inflation and services, and neither has moved.
So when Lagarde says inflation will remain high for the next few quarters and that close attention must be paid to the inflation composition and energy price impact, the translation is that the window for rate cuts is being pushed back, not closed. For interest-free assets like $BTC, delaying rate cuts means real interest rates remain high, putting pressure on valuations; but from another perspective, if the ECB is forced to tighten due to energy prices while core inflation does not cooperate, it actually gains more reason to see through the energy effect.
What’s worth watching is not the 4%. It’s whether the 20.8% energy inflation can transmit to the 3.3% service sector inflation. If it doesn’t transmit, the ECB will eventually cut rates, and $ETH and risk assets still have a chance; if it does transmit, that’s when the real trouble begins.#AMD财报超预期，增长已被透支？
AMD's earnings report sent a somewhat positive signal, with the core being that both growth acceleration and profit resilience were validated. Q3 revenue grew 45% year-over-year, data center revenue increased by 97%, and adjusted EPS rose 74%, indicating that business expansion is generating scale effects.
More notably, the Q4 revenue guidance reached $17 billion, exceeding the market expectation of $16.23 billion; management also expects revenue growth to exceed 80% by 2027, further enhancing the visibility of future growth.
However, the Q4 adjusted gross margin guidance dropped from 56% in Q3 to 55%, indicating that revenue growth does not necessarily lead to gross margin improvement.
My judgment is that AMD's fundamentals remain optimistic, but whether the stock price can continue to be supported depends critically on whether new product deliveries can meet growth expectations and whether profit growth can continue to outpace revenue growth. 过去24小时，$BTC、$ETH、$SOL 的合约爆仓数据出现了一个值得警惕的错位：被扫出场的主要是空头，而不是多头。$BTC 爆仓逾3亿美元，其中空单约2.6亿、多单仅4000万；$ETH 爆仓1.8亿美元，空单1亿、多单8000万；$SOL 爆仓超5000万美元，多空接近持平、多单略占上风。表面看是买方回来了，但资金费率仍为正，说明追多情绪在累积，而非趋势已被确认。 这更像一场对空头的定向挤压，而非方向性行情的起点。关键差别在于：空头被动平仓带来的买盘是一次性的，平完就消失；而价格上方还压着前期套牢盘和获利了结盘，这两股力量会在反弹中陆续释放。把爆仓数据当成单边看涨信号，是当前最容易犯的错。 $ETH 的结构最值得细看。空单1亿、多单8000万，看似多头占优，但短周期多单爆仓比例在上升，意味着杠杆资金密集堆在窄幅区间里，价格稍有波动就会触发连锁反应。这种高弹性同时也是高脆弱性——涨得快，回撤同样快。$ETH 的多头逻辑需要资金费率回落、现货承接跟上才能成立，否则只是杠杆在自我循环。 $SOL 则是另一种状态。爆仓刚过5000万美元，多单略高于空单，资金热度偏弱，波动相对温和。它现在$ONDO faces a token unlock of 1.94 billion tokens in January 2027.
$UNI has a fee-funded burn mechanism.
One fights dilution.
The other has a mechanism to reduce supply.
Neither guarantees price appreciation.
But this is the question every long-term investor should ask:
**If both businesses grow 10x in size, which token is actually designed to benefit?**
This is the difference between buying a successful business narrative and owning the token that captures its success.
Which one would you rather hold for five years? $UNI$ONDO Don't rush to interpret the rocket stock's bullish candlestick as a return of risk appetite; I almost thought so at first glance too. But what really needs attention is whether it has re-tuned the cross-market string? That candle on Friday closed at 134.27, up 8.62%, with an intraday high of 135.32 and a low of 128.57, just slightly above the 5-day moving average. On the surface, sentiment seems to have recovered, but what concerns me more is whether this is just a correction or if risk appetite has truly shifted gears. After all, this bullish candlestick looks more substantial on the on-chain candlestick chart, but the stock price is still just shy of the 140 threshold, indicating that the bulls have only put their foot back inside the door, not really pushed it open. In my own position journal, the most common mistake at this stage is mistaking a "stop in decline" for a "reversal." The last time the rhythm was similar, I saw a stabilization signal and added to my position, but patience was worn down before the resistance level, and I ended up selling my chips before the launch. So this time, I prefer to wait for confirmation rather than jump the gun. The cross-market line is actually quite interesting. When rocket stocks strengthen, theoretically it drives a high-beta narrative—space concepts, satellite chains, and related altcoins' sentiment get ignited first, then BTC and ETH take on greater risk appetite. But the key is that this transmission has a lag and a prerequisite: volume must follow, and 140 must be effectively taken out for capital to treat it as a "new narrative" rather than an "oversold rebound." If only price recovers without volume support, it feels more like an emotional pulse for the crypto market, insufficient to sustain sector rotation. The bullish path is very#软银重金押注OpenAI，Q2财报能否交出亮眼成绩？
The boss has something to say
I came across this SoftBank news again, but the background has changed tonight: OpenAI just closed its first $11 billion financing round, valued at 1.25 trillion, far below the originally planned $30 billion. SoftBank has invested a total of $64.6 billion in OpenAI. On November 10, it will release FY26 Q2 results, with market expectations of a net profit of 2.5 trillion yen and Vision Fund earnings of 350 million. But the community reminds us that SoftBank is betting with junk bonds yielding 10%, its stock price has dropped 50% from the June high, and CDS has risen to 432 basis points.
My interpretation is: OpenAI's valuation has shrunk, and SoftBank is the most hurt leveraged player. Weak demand in the primary market and delayed AI infrastructure IPOs mean that SoftBank's structure of issuing debt to bet on a single unlisted giant will be the first to be squeezed out. For the crypto circle, this is a continuation of AI risk appetite — from AAOI, IREN to SoftBank, the market is repricing AI spending, and BTC is following risk appetite in the short term.
BTC current price is about 74,800, sideways on Saturday. My approach: 75,000 remains resistance, looking down to 73,000; I will not add any high-beta leveraged positions before the SoftBank earnings report. Light positions over the weekend, waiting for the US stock market to open on Monday to decide direction.
The above analysis is timely, please stay safe. $BTC $ETH $ZEC ONE directly surged 57% today, jumping from 0.0011 to 0.00198, nearly doubling in one day. Trading volume expanded 21 times, from a few million to over twenty million dollars. Interestingly, after the rise, mainstream media only gave one sentence as the reason, with no confirmed catalyst. So what is the market speculating on? After some research, two explanations were found. First is transformation. Harmony is preparing to shift from a Layer 1 public chain to the "AI video" sector, creating a pl$BTC is currently at $75,917, down 0.04% in 6 hours
$ETH is currently at $2,244.24, flat in 6 hours, up 0.74% in 24 hours, ranging between 2,237 and 2,247, with resistance at 2,250 and support at 2,230.
Both have narrowed in volume and fluctuated within a tight range. This is attributed to the US October nonfarm payrolls exceeding expectations overnight with an increase of 165,000, and rising expectations for a rate hike in December. The US dollar index rose 0.71%, suppressing risk assets, but Binance panic has been digested, with limited selling pressure, thus holding the 76,000 level.
In terms of operations, BTC is holding above 75,600 with a slightly bullish fluctuation; reduce positions if it breaks below. ETH is watching the 2,230 support.
Trading profits come from differences in cognition, not emotional differences; moving slower actually gets closer to the answer.
This is only a personal review record and does not constitute any investment advice. The market has risks; operate cautiously.
#美国10月非农超预期，12月加息押注升温 00:40 AM record: Account net value is 96,800, down 3.2% from last week's peak. The BTC stop-loss order is set at 74,200 and hasn't moved for three days.
This account posts daily real trading net values and stop-loss points; profits are posted, losses are posted as well. If you can't keep up, just unfollow.
BTC is now 75,936, up 0.4% in 24 hours; ETH 2,245, up 0.9%; SOL barely moved, up 0.1%. All three assets are stagnant, but the background is JobsReportRaisesHikeOdds: employment data has pushed up the odds of a rate hike again. According to textbooks, this news should suppress risk assets, but prices have actually slightly risen.
My interpretation is: the current situation is closer to no one rushing to sell, but it hasn't reached the point where people are buying. Chips have shifted from weak hands to strong hands, so prices are holding steady. But volume hasn't increased; this "holding" is defensive, not offensive. So I’m not adding positions: for every 1% increase above 76,000, I reduce one tier, leaving the remaining base position untouched, waiting for the direction to reveal itself.
A question for you to choose one: at a time when the probability of a rate hike is rising, do you first cut your position to 50% to lock in profits, or maintain full position betting it will touch 80,000?
Follow me for daily public real trading positions and stop-loss logic; losses are honestly reported as well.
#OKXProphet , giving some data support for a December rate hike next. It further pushes the December hike to actually happen. Based on market bets on Fed hiking in December, the hike probability is roughly around 80%. But usually, besides the market pricing in the hike expectation and falling before the hike, there is also a sell-the-fact drop after the hike. If in 2027 the Fed keeps hiking or enters a "hike cycle", Then no matter for crypto or US stocks, the upside will be suppressed. $BTC from around 80k Are you numb yet? Hyperliquid continued to buy back and burn 21,000 HYPE tokens (about $1.66 million) in the past 24 hours, bringing the total burned amount close to 50 million tokens, accounting for 5% of the total supply. The protocol revenue in the past month was about $63.94 million, ranking first among all protocols, with 97%-99% continuously converted into buy orders. This is HYPE's strongest trump card, but it cannot hedge against concentrated daily sell-offs worth tens of millions of dollars.
The core issue now is that HYPE is stuck in a deadlock where the fundamentals are supporting the bottom, but the chip distribution is causing sell-offs. Buybacks and burns provide real value support, but the continuous inflow of a16z and large holders into exchanges creates clear short-term selling pressure. The market's pricing power is currently in the hands of the sellers.
Just watch one signal: whether $75 can hold. If it holds, it means buybacks plus low-level support can still absorb a16z's sell-offs, and the deadlock continues; if it breaks, it means even the protocol's high-intensity buybacks can't withstand this wave of chip distribution, and the depth and duration of the correction will be extended. AHR999指标、恐惧贪婪指数、历史周回报率以及定投成本，目前的市场呈现出典型的“极度恐慌+估值触底”的左侧特征。 恐慌蔓延，又到了“别人恐惧我贪婪”的时刻 最近大盘跌得让人没脾气。看了下最新的数据，几个关键指标都在疯狂闪烁“抄底”信号，简单说说目前的盘面： 1️⃣ 情绪面：极度恐惧 看图一的贪婪与恐惧指数，目前已经跌到了 26（恐惧）。要知道之前还在 72（贪婪）的高位，这波情绪杀跌非常明显。 2️⃣ 估值面：AHR999 亮起绿灯 图一右侧明确提示了当前状态“适合抄底”。看图三的具体数据，Ahr999 指标已经跌到了 0.43 - 0.49 区间，处于历史上的定投极佳击球区。 更关键的是，目前 BTC 价格（约 7.5万-8万美元区间）距离 200日定投成本（约7.26万美元） 已经非常接近了，这是一个极强的心理和技术支撑位。 3️⃣ 历史规律：连跌四周，至暗时刻？ 看图二的历年周回报率，2026年（即当前年份）的第41周到第44周，居然是连续四周全红（收跌）。不过参考历史，2017和2022年的第45周也曾出现过 -21% 的极端暴跌。目前恐慌盘可能已经释放得差不多了。 不要一If you think Dogecoin has no hope now, take a look at its past performance. It crashed about 56% in 2014, but surged over 3900% in 2017! It crashed again about 74% in 2018, then saw an annual increase of over 3500% in 2021! It dropped about 59% in 2022, rebounded over 250% in 2024, and then fell about 63% in 2025. This is the truest side of DOGE: wild rises, brutal pullbacks, and repeating cycles. But don’t be fooled by the historical average returns. The huge gains in a few years significantly raise the average, and most investors may not catch the market moves. I still believe DOGE is worth watching long-term, but the next big rally requires new capital, market sentiment, and real-world applications working together—not just relying on past stories. A person who does charity ends up reporting the probability of human extinction. This in itself is quite absurd.
Vitalik said in a podcast that he was attracted to EA back then because of one number: $2000 to buy a mosquito net could save a life. He calculated that he should spend money the same way. From 2016 to 2017, Ethereum rose tenfold, and he sold a small portion to donate. Of the batch of cryptocurrency in 2021, the part donated to the Future of Life Institute, he recalled, was roughly worth $400 to $600 million.
The divergence came later. FLI’s direction changed, narrowing from researching all risks threatening human survival to focusing only on AI safety, and increasingly moving toward policy action. Vitalik said he tried to communicate, hoping they would broaden their scope, but was rejected.
His explanation is quite straightforward: EA is very effective in the domain of humans versus nature, like malaria prevention and buying mosquito nets, where input and output can be clearly calculated. Once it moves into the domain of humans versus humans, the accounts become unclear because you are no longer judging effects but who should have the power to decide the direction.
So he talks about d/acc, defensive acceleration: not betting on whether we can stop or not, but first developing technologies that can protect people and decentralize power, such as cybersecurity, vaccines, and air filtration. When asked about the probability of human extinction, he said 0.1.
What’s worth thinking about is this 0.1. It’s not 0, nor 1. It means he neither says stop everything nor says do whatever you want. The market loves narratives of 0 and 1 the most; no one wants to price the middle ground.The market always chases "faster and cheaper," but there is a real demand gap between technological upgrades and token price increases. Today, let's look at the three routes of ETH, SOL, and POL. ① ETH: On November 6, the Ethereum Foundation confirmed that the Glamsterdam test found some contracts might be affected by the Gas billing changes in EIP-8037 and 8038, so the Hoodi fork was postponed. Prioritizing security is good, but it also exposes upgrade compatibility risks. Pay attention to the repair progress, audit feedback, and new test schedules; don't interpret the delay directly as all bad news. ② SOL: The November 6 ecosystem monthly report revealed that the target block interval in October dropped to 200 milliseconds, Alpenglow has launched on the mainnet, and the report states that the RWA scale reached $5 billion. The performance narrative is extending toward asset implementation, but speed does not equal revenue. Observe stablecoin active users, on-chain fees, and actual RWA transactions. ③ POL: On October 29, Polygon announced that Open Money Stack supports Solana, attempting to integrate payment processes from different chains into a single set of tools. Expanded cross-chain coverage does not automatically benefit POL. Focus on enterprise adoption, real settlement amounts, and fee attribution, and be cautious of ecosystem growth decoupling from token value. Today's BTC mainly fluctuated repeatedly around $75,000. The current price is about $75,900, with a 24-hour change almost flat (-0.25%~+0.01%), the daily high at 76,416 and low at 74,888, with a volatility of about 2%. This day's market action is like going out for a walk and returning to the starting point .
Interestingly, market participants' attitudes have diverged: Binance whales' long-to-short ratio is 2.08, down 3.25% in 24 hours; but the number of accounts' long-to-short ratio is as high as 3.35, and OKX accounts' long-to-short ratio is 3.04. Overall, institutions are reducing positions while retail investors continue to go long. The funding rate is +0.0085%, meaning longs have to pay a fee periodically; in the past 24 hours, longs were liquidated for $104 million, shorts only $20 million, showing longs are under significant pressure . Coupled with better-than-expected nonfarm payroll data, cooling rate cut expectations, and net outflows from ETFs, the macro environment is also suppressing bullish sentiment.
Going forward, it will most likely continue to oscillate between 74,888 and 76,500: if it breaks below 74,888, bears will have more advantage, with the next target at 74,000; only by reclaiming 76,500 can the market have a chance to stabilize again. Weekend liquidity is low, so it is advised not to mistake a slight rebound for a trend reversal, nor to panic excessively due to short-term sharp fluctuations. #美国10月非农超预期，12月加息押注升温 During market downturns, what’s most worth tracking is not slogans but whether technology can bring sustained usage and income. ETH: On November 6, the Ethereum Foundation disclosed that the Glamsterdam test found some applications might be affected by Gas billing adjustments, so the Hoodi fork is postponed. Proactively addressing issues is more important than launching with problems, but delays also increase uncertainty. Next, focus on fixes, audits, and testnet restarts rather than blindly guessing the mainnet launch date. SOL: The Solana Foundation’s November 6 monthly report stated that the target block interval in October dropped to 200 milliseconds, Alpenglow has been activated, and RWA scale reached $5 billion. Both performance and institutional assets are advancing, but asset scale does not equal on-chain revenue. Watch stablecoin transfer activity, fees, and application retention, and beware of data that is lively but lacks value capture. AVAX: Official Avalanche information confirms that the Helicon upgrade took effect on the mainnet on September 22, bringing changes such as continuous execution and dynamic minimum Gas price. This is not a new benefit this week but an old checkpoint to test the upgrade’s effectiveness. Focus on real transactions on the C-Chain, validator economics, and fees; technical optimizations without demand support may not benefit the token price.This is somewhat interesting, but my first reaction isn't to chase the AI concept; rather, I want to distinguish whether the company's earnings are actually related to the tokens.👀
According to reports, Core Scientific sold 816 $BTC in Q3 and held only 32 as of September 30; management stated that the mining business will end on December 31, 2026. Of the $233 million revenue that quarter, hosting contributed $215 million.
I tend to see this as a sentiment catalyst for the AI infrastructure narrative, rather than a universal benefit for small tokens: hosting revenue makes up the majority, indicating the business focus is indeed shifting; but corporate orders do not mean tokens can capture the revenue. Highly volatile assets may gain attention due to themes but are also prone to retreat once correlations are disproven. I will watch whether related projects have real customers and how revenue translates to tokens, not just who is riding the AI wave. Recently, are you more focused on AI computing power or mining transformation tracks, and which validation metrics do you value more?KOSPI closed down 6.02% on Friday after a 20-minute circuit breaker, Samsung $SAMSUNG fell 6.35%, Hynix $xSKHY dropped 10.44%, and foreign investors sold 2.8 trillion KRW in one day. So the current situation is that no one can prove the decline is over, and the premise of bottom-fishing is that the decline is over. Even if you can't buy at the lowest point, at least don't catch a falling knife halfway down the mountain 🤧$PEPE Brother Sun took quite a lot, whether it's spot or long and short positions, he basically won't let go. If you can avoid participating, don't participate. You have to listen to Brother Sun, and stay as far away as possible from Brother Sun's projects.$BTC is repeatedly tugged between the $75,000–$78,000 range, while $ETH consolidates narrowly around $2,200–$2,300. In October, BTC and ETH fell by 7.3% and 16.0% respectively, with market breadth sharply contracting. The root cause of the volatility lies not in the price itself, but in the capital structure: both BTC and ETH spot ETFs saw net outflows, with ETH alone experiencing $1.6 billion outflows in a single month, indicating tactical contraction in institutional demand. More challenging is that the total open interest across the market has dropped to a 12-month low, with leverage basically cleared out, yet the perpetual funding rate remains positive, meaning longs are still paying to stay "bullish"—chips have been cleared, but those unwilling to admit defeat are still holding on. The likely future trajectory is not a one-sided breakout but rather a bottom test followed by divergence. 10x Research expects BTC could still reach $90,000 by year-end, but only after first dropping to $77,000–$79,000 to complete the final shakeout, and ETH is expected to underperform BTC because value continues to flow to Layer 2, leaving ETH holders without sufficient returns. The key signal triggering a trend reversal is the funding rate turning negative, which would truly mean the bulls have conceded and a bottom structure is established; before that, any rebound is more likely a recovery rather than a reversal. Behind the Over-release of 2.55 Million CORE Tokens: Why CORE's "Bleeding" Is More Fatal Than Ethereum's DAO Crisis
CORE exposed a vulnerability that prematurely released 2.55 million reward tokens. Although this security incident superficially resembles the Ethereum DAO crisis, the level of damage is completely different.
The DAO vulnerability was a defect in the upper-layer DApp contract, while Ethereum's underlying protocol remained intact. The stolen funds were also subject to a lock-up period, giving the community ample time to respond. After network-wide debates, voting, and a hard fork, Ethereum completed consensus filtering, significantly boosting its reputation and turning the crisis into an opportunity for growth.
In contrast, CORE's issue lies in the L1 underlying block reward issuance mechanism, with the vulnerability directly affecting the token release rules. Although it did not breach the 2.1 billion total supply cap, a large amount of future tokens entered the circulating market prematurely, intensifying inflationary selling pressure. The project has only 21 validator nodes, indicating weak decentralization, and governance heavily depends on the project team. A subsequent hard fork reclaimed some tokens, but approximately 690,000 tokens have already dispersed to external wallets, forming a looming supply overhang.
Compounded by the chain's meager on-chain gas revenue, tightening exchange liquidity, and competition siphoning users in the BTCFi sector, the vulnerability shattered the market's remaining confidence.
Though both are crises: Ethereum was an application-layer injury with a stable consensus foundation; CORE exposed flaws in the underlying monetary mechanism, further worsening an already fragile economic model, causing sustained damage.$xMSFT Observation: Oracle computing power lease reduction, spot chip decline on Friday
Microsoft token current price 531.44, 24h change +0.09%, range 521.75-538.52, volume about 57,000 USDT
Bloomberg citing insiders reports Microsoft has gradually stopped using AI computing power leased from Oracle in recent months and decided not to renew the lease, as Oracle mainly uses older generation Nvidia chips that no longer meet demand changes (China News Service/Financial Associated Press)
CNBC states Microsoft is simultaneously evaluating reductions in neocloud providers like CoreWeave, Nebius, Nscale, prioritizing self-built data centers, with external computing power lease commitments exceeding $80 billion
On Friday, US stock spot Microsoft down about -0.99%, Philadelphia Semiconductor up +4.21%, Nvidia about +2.78%, the market interprets this revaluation as AI external procurement contraction, not just efficiency improvement
Bulls see self-built data centers cutting waste from old chip leases, bears see external procurement brakes dragging the entire AI infrastructure chain; this expectation will be repeatedly priced in before Nvidia's earnings on November 17.
#美股暴跌后科技股反弹，纳指周线仍跌约3.4% 🚀 BTC and ETH remain steady, while ZEC leads with unusual movement—could it be the market's indicator?
Recently, BTC and ETH have been oscillating at high levels, but the veteran privacy coin ZEC (Zcash) has broken through the market with a strong move! Is this an early hint of the overall market direction, or a carefully crafted "long-short double kill" scheme by the whales?
From on-chain and trading data, the long-short battle is extremely fierce:
Retail investors are bearish, whales are bullish: Binance & OKX network-wide account long-short ratios are low at 0.75-0.88, showing retail investors are generally bearish; however, Binance large accounts have a long-short ratio as high as 1.4355, indicating a typical divergence between large holders and retail!
Long and short positions both explode, devastatingly: 24-hour network-wide liquidations reached $12,756,500 (short liquidations $7,770,000, long liquidations $4,980,000), extreme volatile shakeouts have caused heavy casualties on both leveraged sides.
Major players fiercely competing at high levels: ZEC is experiencing intense turnover between $1270-$1290, with large holders like 0xe2ad selling to open shorts worth $4,570,000, and large funds selling to close longs at high levels, showing huge long-short divergence. #ZEC巨鲸3.8万枚空单平仓，亏损超3500万美元 #ZEC机构资金入场，高位杠杆开始出清 $ETH $ZEC $BTC 🚀 SOL has been oscillating around 90 for a long time; could the bottom really have appeared?
SOL is consolidating in the $89-$90 range, and many traders are eager to buy the dip. However, considering the volume-price structure and liquidation data, it is still too early to talk about "bottom confirmation," and there is a very high risk of a short-term downward probe!
Breaking down several core contradictions from market and on-chain data:
* The volume-price structure is a downward continuation: the 4-hour K-line shows a gradual decline with a stepwise downtrend. Previous drops and rallies were accompanied by huge sell volumes (prominent red volume bars), but currently, volume shrinks significantly during sideways movement near $89.9. "Sideways low volume" in a downtrend is often a bull trap continuation rather than a successful bottom formation.
* Liquidation pain points are firmly locked below: liquidation gravity is biased downward at 52%! The key long liquidation pain point is at 89.153 (only -0.88% from the current price), and it has persisted as a core pain point over the last 7 cycles, accumulating about $4.96 million in pending long liquidation liquidity. In the crypto market, such close and dense liquidity is a perfect "downward injection" magnet for market makers.
💡 Trading strategy and response:
Blindly buying the dip at this position is very likely to get liquidated by liquidity injections. The real bottom:
* Intense shakeout: price pierces the 89.15 pain point but quickly recovers, forming a long lower shadow with huge volume (a false breakout liquidation).
* Structural change: right-side volume recovery and holding above the previous high resistance at 92-93 $SOL In-depth Review: The Fateful Divergence Between Ethereum DAO and CORE
Both faced major security crises and both activated hard forks as remedies. Ethereum rose from the ashes to become legendary, while CORE continued to weaken. Their destinies were long determined by their underlying foundations.
In the 2016 Ethereum DAO incident, the vulnerability existed only in the upper-layer DApp contract; the underlying public chain architecture remained completely intact. Moreover, the stolen funds were locked with a buffer period, giving the community ample time to debate, vote, and hard fork to roll back the assets.
This crisis did not break Ethereum; instead, it completed a network-wide consensus filtering, unified governance standards, improved the industry security system, and thoroughly established its leading position in smart contracts. It was an upgrade achieved through crisis.
In contrast, CORE’s problem struck directly at the L1 underlying reward mechanism, a native protocol defect. Coupled with extremely weak decentralization, concentrated nodes, and a thin community foundation, multiple hard forks were merely reactive firefighting.
Adding to this were long-term inflationary selling pressure, high-level ghost tokens, poor on-chain yields, competition siphoning off BTCFi sector users, and continuously shrinking liquidity. Each fix exposed the underlying instability.
The real difference lies not in the crisis itself but in consensus and fundamentals. Projects with strong consensus can be reborn through crisis, while those with weak foundations face irreversible fate from a single fatal vulnerability.🔥$ONE
24-hour surge of 54.52%, trading volume close to $29.63 million, just 4.8% away from the previous high.
The husband chain suddenly gains momentum—is this the king's return or the last wave of a bull trap?
Several key signals to watch:
📈 Strong price rally
📉 Funding rate is negative (-0.083%/4h)
💰 Open interest around $1.88 million
Price is rising while funding rate is negative, indicating that short pressure in the futures market still exists. If buying continues, a short squeeze scenario cannot be ruled out.
But the closer it gets to the previous high, the more cautious you should be about profit-taking.
Only a breakout above the previous high and holding it justifies further gains!
If volume expands but price stalls, beware of a pullback after the spike!
The biggest fear in crypto is not missing out, but mistaking the peak for a starting point. 😂
Do you think $ONE can keep rallying?
🚀 Bullish or 🩸 Bearish? $ONE $ACH — Connecting traditional payment systems with digital assets remains a meaningful infrastructure challenge. Alchemy Pay operates in the crypto payment access space, where practical usability matters. Its progress is worth evaluating through payment integrations, supported markets, transaction experience, and the real demand for fiat-to-crypto access.$ZEC USDT TRADE IDEA
Entry: Wait for confirmation
TP1: $1,260
TP2: $1,245
SL: $1,290
Concept: Strong selling pressure is visible. Watch for a confirmed breakdown and volume before considering a short position.
#ZEC #Zcash #OKX#BerkshireQ3CashOutlook $ORDI — Bitcoin's ecosystem is expanding beyond its traditional role as a value-transfer network. Ordinals brought attention to inscriptions and digital assets recorded through Bitcoin transactions. The important question is whether this activity develops lasting use cases while balancing network demand, transaction costs, and Bitcoin's original design priorities.$BLUR — NFT marketplaces compete through liquidity, pricing tools, creator participation, and trader experience. Blur became known for a trading-focused approach to NFT markets. Its ecosystem deserves evaluation through genuine marketplace activity, repeat users, creator incentives, and the ability to remain useful when speculative demand declines.#RocketLab财报前瞻：Neutron火箭进展如何？ How to view Seeing two wallets open long positions on $HYPE within a short time made my heart skip a beat😰. Both traders used 3x leverage, with a combined nominal position of about $474,500. These are newly opened positions, so whether they will be profitable is still unknown; you can't treat aligned bets as confirmed judgments.
I only invest spare money and admit that I fear volatility, so I won't follow just because "two people are both bullish." Two wallets expressing the same direction doesn't equal two independent judgments, nor does it mean they can bear losses that I can also bear. We can see the positions but not how much of their total assets this money represents.
3x leverage doesn't seem excessive, but roughly calculated, if the price moves 10% against them, the initial margin loss would be about 30%, not including fees. The actual situation also depends on margin arrangements. For someone like me who still has a day job, the risk isn't just the paper loss but also the psychological burden of constantly checking prices, which affects sleep and work.
My prudent approach is to first decide how much I can afford to lose, then work backward to determine position size, not to bolster my confidence by others' bet amounts. Spare money doesn't mean you can lose it recklessly; if you can't handle it, reduce the size or even stay out. If it were you, what maximum drawdown on such a position would trigger your exit: 5%, 10%, or even lower? $GLD
Does strong employment necessarily suppress gold?
In October, the average hourly wage in the U.S. increased by 3.1% year-over-year, and employment growth remains resilient. Gold faces the opportunity cost of interest rates, but the market may also simultaneously increase demand due to policy and inflation uncertainties.
The key is which changes faster: nominal interest rates or inflation expectations. If nominal yields rise but real interest rates do not increase in tandem, the pressure on gold may not be the same.
I focus on the combination of real interest rates, the U.S. dollar, and gold. If real interest rates rise while gold prices remain firm, it indicates other demand is supporting it; if both the dollar and real interest rates strengthen and funds continue to flow out, the safe-haven narrative alone is insufficient to independently support valuation.In the coming week (November 9-15), the U.S. natural gas market will be at a critical point of intense bullish and bearish competition. The core contradiction lies in: persistently warm weather suppressing prices, while record LNG exports and some production cuts provide bottom support.
🥶 Weather Battle: Huge Model Discrepancies, Warm Winter Expectation Remains the Main Theme
Weather is the biggest variable next week, with significant differences among models that could trigger sharp price fluctuations.
· Mainstream Expectation is Warm: Most forecasts believe that temperatures above the norm will continue until November 20-21, leading to weak heating demand, which is the main force suppressing prices.
· Model Discrepancies: The ECMWF model predicts heating degree days (HDD) far higher than the GFS model, meaning if the ECMWF forecast materializes, it will bring a significant cold shock that could trigger short-covering.
📊 Inventory Report: Testing Whether the Surplus Narrows
On November 12 (Thursday), a new EIA weekly inventory report will be released (possibly delayed due to Veterans Day). The market expects inventories to be 2.1% above the five-year average, higher than last week's 1.4%. If the increase exceeds expectations, it will reinforce the oversupply logic and be bearish for prices.
🚢 LNG Exports: The Strongest Demand-Side Support
LNG exports are currently the strongest bullish factor. The daily average feed gas volume to export terminals in November has reached 18.8 Bcf/d, potentially tying the monthly record. Qatar is increasing LNG purchases from the U.S. due to Middle East tensions, providing long-term support for U.S. exports.
📈 Macro and Geopolitics: Sentiment Disturbances
· Macro Economy (November 10): The U.S. will release October CPI data, with the market expecting core CPI at 2.6%. If inflation exceeds expectations, it will strengthen high interest rate expectations and pressure commodities.
· Geopolitics: Easing Middle East tensions will reduce global natural gas supply concerns, indirectly pressuring U.S. gas prices.
💎 Summary
Next week, natural gas prices will be tugged between "warm winter suppression" and "export support." Strategically, if the ECMWF cold forecast materializes or inventory growth falls short of expectations, it may trigger a short-term rebound from short-covering; conversely, if the weather remains warm and inventory growth exceeds expectations, prices will continue to be under pressure. The key observation points are updates to weather models and Thursday's EIA inventory data.$ZRX — Liquidity infrastructure is becoming increasingly important as decentralized finance expands across multiple networks. 0x focuses on connecting applications with liquidity from different sources through its trading infrastructure. Its long-term relevance depends on execution quality, developer integrations, and whether applications continue choosing aggregated liquidity solutions.The recent market has been oscillating back and forth, causing many friends' positions to become passive, with both long and short positions being trapped. The more volatile the phase, the more you should avoid emotional operations; blindly cutting losses or heavily adding to positions will only increase risk.
Currently, the market is experiencing intensified long-short battles with fast short-term fluctuations, making it unsuitable to stubbornly hold on waiting for a single strong bullish candle to recover losses. Prioritize distinguishing position sizes: for light positions trapped, you can rely on the range's high and low points to swing trade and gradually reduce the average cost of holdings; for heavy positions trapped, prioritize reducing positions in batches when the rebound reaches resistance levels to lower position risk first.
Do not rush to fully recover losses in one go; a choppy market requires a step-by-step approach. The resistance level on the upside is an opportunity to reduce positions, and consider small positions on the downside once key support stabilizes. Strictly maintain risk control, avoid adding more and more to positions. If you are unsure about entry points, you can send me your position cost and size for targeted planning. $XAU #美国10月非农超预期，12月加息押注升温 Hard Fork Savior vs. Phantom Tokens Hanging Overhead: The Two "Life-and-Death Struggles" of Ethereum and CORE, Why Their Outcomes Differ
Both chose hard forks as a crisis management tool. Ethereum leveraged the fork to consolidate consensus, while CORE’s market confidence declined with each fork. These two outcomes are thought-provoking.
During the DAO hack incident, the vulnerability was in the upper-layer application contracts; Ethereum’s underlying architecture remained intact. After thorough community debate, a hard fork was executed to recover assets. Even though ETC split off, this debate ultimately solidified Ethereum’s influence in the smart contract space and further strengthened community conviction.
In contrast, CORE’s multiple hard forks stem from fundamental design flaws, token inflation selling pressure, and a large amount of unresolved phantom tokens lingering over the market. The project has only 21 validator nodes, inherently lacking decentralization and without a large developer community to support it. Each emergency fork not only failed to eliminate risks but also caused investors to worry about repeated changes to the project’s plans and an unstable economic model.
Additionally, strong competition from BTCFi track projects like Babylon and Merlin, along with exchanges delisting CORE, has led to continuous liquidity contraction.
Lesson: A hard fork is just a tool. Strong consensus can use crises to be reborn, but projects plagued by hidden risks only magnify their internal flaws with every fix.Three mainstream cryptocurrencies, all short positions, 5x full-position leverage, with a combined unrealized profit exceeding $7.4 million. In a market where most people are used to chasing highs and selling lows, this position appears particularly calm, even somewhat "contrarian."
$BTC short position of 2,354.6 coins, valued at $180 million, entry price $76,390.2, liquidation price $131,182.12.
$ETH short position of 78,100 coins, also $180 million in scale, entry price $2,322.72, liquidation price $3,896.76.
$SOL short position of 242,200 coins, valued at $21.7759 million, entry price $91.4221, liquidation price $519.57.
The combined margin for the three positions is about $75.2 million, unrealized profit about $7.4 million, and funding fee income totals over $9.08 million — meaning that just from "collecting funding fees," there is already a considerable cash flow.
There are several points worth savoring here. First, the distance between the liquidation price and the entry price reveals restraint in position management. BTC’s liquidation price at $131,182 is more than 70% above the entry price of $76,390; ETH’s liquidation price at $3,896 is nearly 68% above the entry price of $2,322. With 5x full-position leverage, such a safety buffer means that even if the market reverses sharply upward, the position won’t be easily liquidated. This is not about betting on direction but leaving enough room for error.
Second, the funding fees remain positive, indicating that the shorts are "collecting rent." In perpetual contracts, when market bullish sentiment is strong and funding rates are positive, short holders regularly receive funding fees paid by longs. The combined funding fee income exceeding $9 million shows these short positions have been held for some time, during which the market overall was in a state where longs paid fees. In other words, shorting not only profits from price declines but also from "time."
Third, the simultaneous shorting of three coins reflects a macro judgment rather than a single-coin bet. BTC, ETH, and SOL are all shorted in the same direction and at comparable scales, indicating this is not an isolated judgment on a single project but a systematic bearish view on the overall crypto market valuation. The entry prices correspond to $76,390, $2,322, and $91 respectively; if these prices are near local highs, then the timing of this position is quite precise.
Of course, unrealized profit does not equal realized profit. With 5x full-position leverage, the three positions share margin, and if one coin experiences an extreme surge, it could trigger a chain reaction. Although the liquidation prices are far away, the volatility of the crypto market should never be underestimated. The most valuable takeaway from this screenshot is not "how much was earned shorting," but the balance among position size, leverage multiple, and liquidation distance — beyond directional judgment, what truly determines survival is risk exposure control.
In crypto bear markets, many fail not because they chose the wrong direction but because their positions are too large, leverage too high, and buffers too thin. The answer this screenshot offers is simple: you can be bearish, but don’t corner yourself.
#美国10月非农超预期，12月加息押注升温 Bleeding the same, but fate differs: DAO crisis made Ethereum, why CORE's vulnerability became a "terminal illness"
Both suffered major security vulnerabilities, but Ethereum further solidified its industry position through the DAO crisis, while CORE's confidence continued to collapse under the impact of vulnerabilities, resulting in vastly different outcomes.
The 2016 DAO incident involved a vulnerability at the DApp application layer; Ethereum's underlying protocol had no defects, and the stolen funds had a lock-up period allowing the community time to handle the situation. This crisis sparked widespread discussion across the network, refining community consensus and establishing Ethereum's reputation as the leader in smart contracts.
In contrast, CORE's security issues struck at the core mechanism. The project itself was weakly decentralized, with only 21 validator nodes and a fragile native community foundation; combined with long-term inflationary pressure, low on-chain Gas revenue, and liquidity crises caused by exchange delistings, the vulnerability was not an isolated accident but a heavy blow that crushed an already weak fundamental.
Within the same sector, Babylon and Merlin continuously capture BTCFi ecosystem shares, and every security negative incident steadily erodes the remaining trust of investors.
Insight: Crisis is a touchstone. Projects with solid fundamentals and deep consensus can endure the pain; projects with inherent risks may face an irreversible "terminal illness" after a single incident.