BTC
BTC
$63,081.99
-0.05%
涨跌箭头
ETH
ETH
$1,870.92
+0.29%
涨跌箭头
BNB
BNB
$579.70
-1.51%
涨跌箭头
XRP
XRP
$1.06
-0.23%
涨跌箭头
SOL
SOL
$73.01
-0.35%
涨跌箭头
TRX
TRX
$0.3283
+0.40%
涨跌箭头
HYPE
HYPE
$52.27
-4.92%
涨跌箭头
DOGE
DOGE
$0.07016
+1.36%
涨跌箭头
ZEC
ZEC
$467.77
+2.20%
涨跌箭头
XMR
XMR
$361.36
+4.06%
涨跌箭头
LINK
LINK
$8.11
-0.32%
涨跌箭头
XLM
XLM
$0.1718
+1.60%
涨跌箭头
CC
CC
$0.1174
-1.20%
涨跌箭头
BCH
BCH
$208.70
+1.11%
涨跌箭头
TON
TON
$1.40
+0.75%
涨跌箭头
LTC
LTC
$44.32
-1.40%
涨跌箭头
HBAR
HBAR
$0.0701
+3.33%
涨跌箭头
SHIB
SHIB
$0.0{5}498
+7.33%
涨跌箭头
AVAX
AVAX
$6.37
-0.39%
涨跌箭头
SUI
SUI
$0.6849
-0.04%
涨跌箭头
UNI
UNI
$4.12
-4.18%
涨跌箭头
CRO
CRO
$0.05485
+0.51%
涨跌箭头
NEAR
NEAR
$1.67
-0.06%
涨跌箭头
TAO
TAO
$193.90
+1.36%
涨跌箭头
XAUT
XAUT
$4,042.14
+0.32%
涨跌箭头
ONDO
ONDO
$0.3901
-2.84%
涨跌箭头
BFUSD
BFUSD
$0.9991
-0.02%
涨跌箭头
PAXG
PAXG
$4,046.64
+0.34%
涨跌箭头
OKB
OKB
$86.38
+1.46%
涨跌箭头
ASTER
ASTER
$0.6
+0.33%
涨跌箭头
WLFI
WLFI
$0.0538
-1.28%
涨跌箭头
AAVE
AAVE
$91.61
-5.70%
涨跌箭头
M
M
$1.09
-16.44%
涨跌箭头
SKY
SKY
$0.05609
-1.08%
涨跌箭头
MNT
MNT
$0.3965
+0.79%
涨跌箭头
DOT
DOT
$0.771
+2.12%
涨跌箭头
PEPE
PEPE
$0.0{5}277
+0.73%
涨跌箭头
BGB
BGB
$1.63
+0.02%
涨跌箭头
ICP
ICP
$2.07
+0.58%
涨跌箭头
JITOSOL
JITOSOL
$94.38
-0.89%
涨跌箭头
ETC
ETC
$6.62
-0.15%
涨跌箭头
USDD
USDD
$0.9986
+0.01%
涨跌箭头
JST
JST
$0.1041
+0.64%
涨跌箭头
KCS
KCS
$6.56
-0.07%
涨跌箭头
WLD
WLD
$0.3053
+0.43%
涨跌箭头
POL
POL
$0.0728
+1.36%
涨跌箭头
PI
PI
$0.0877
+8.67%
涨跌箭头
BNSOL
BNSOL
$82.10
-0.12%
涨跌箭头
PUMP
PUMP
$0.002157
+7.37%
涨跌箭头
U
U
$1.00
-0.03%
涨跌箭头
QNT
QNT
$62.07
+3.43%
涨跌箭头
GT
GT
$6.50
-0.15%
涨跌箭头
MORPHO
MORPHO
$1.97
+0.10%
涨跌箭头
KAS
KAS
$0.02707
-0.77%
涨跌箭头
ALGO
ALGO
$0.0801
+2.17%
涨跌箭头
ENA
ENA
$0.0814
+0.74%
涨跌箭头
币安人生
币安人生
$0.6243
-2.57%
涨跌箭头
JUP
JUP
$0.1916
-0.73%
涨跌箭头
ATOM
ATOM
$1.24
-0.16%
涨跌箭头
STABLE
STABLE
$0.03403
+0.15%
涨跌箭头
FIL
FIL
$0.713
-0.72%
涨跌箭头
FLR
FLR
$0.006209
-1.07%
涨跌箭头
VVV
VVV
$11.91
+0.77%
涨跌箭头
LIT
LIT
$2.04
-5.18%
涨跌箭头
XDC
XDC
$0.02647
+0.42%
涨跌箭头
INJ
INJ
$4.92
+1.21%
涨跌箭头
CAKE
CAKE
$1.42
-2.81%
涨跌箭头
NEXO
NEXO
$0.718
+0.28%
涨跌箭头
ARB
ARB
$0.0785
+2.88%
涨跌箭头
APT
APT
$0.559
+0.36%
涨跌箭头
VET
VET
$0.004715
+1.03%
涨跌箭头
DASH
DASH
$31.45
+5.36%
涨跌箭头
AERO
AERO
$0.4158
-0.65%
涨跌箭头
PENGU
PENGU
$0.005957
-0.80%
涨跌箭头
VIRTUAL
VIRTUAL
$0.5469
-1.85%
涨跌箭头
SUN
SUN
$0.01788
-0.11%
涨跌箭头
TRUMP
TRUMP
$1.43
-0.49%
涨跌箭头
FET
FET
$0.1415
-0.07%
涨跌箭头
CRV
CRV
$0.2056
-0.77%
涨跌箭头
NIGHT
NIGHT
$0.01801
-1.32%
涨跌箭头
TIA
TIA
$0.3292
+3.20%
涨跌箭头
LDO
LDO
$0.336
-5.59%
涨跌箭头
ETHFI
ETHFI
$0.401
+0.30%
涨跌箭头
GNO
GNO
$105.02
-0.40%
涨跌箭头
SEI
SEI
$0.04147
-0.69%
涨跌箭头
LUNC
LUNC
$0.0{4}4957
+0.96%
涨跌箭头
NFT
NFT
$0.0{6}2685
-0.67%
涨跌箭头
BTT
BTT
$0.0{6}263
+1.19%
涨跌箭头
BSV
BSV
$12.64
+0.56%
涨跌箭头
STX
STX
$0.1368
-0.65%
涨跌箭头
BONK
BONK
$0.0{5}28
+1.08%
涨跌箭头
PENDLE
PENDLE
$1.41
-0.28%
涨跌箭头
DCR
DCR
$13.14
-3.67%
涨跌箭头
PYTH
PYTH
$0.03951
-0.78%
涨跌箭头
MON
MON
$0.02083
+0.05%
涨跌箭头
CFX
CFX
$0.043
+1.99%
涨跌箭头
JASMY
JASMY
$0.00446
+3.72%
涨跌箭头
ZRO
ZRO
$0.74
+1.79%
涨跌箭头
IMX
IMX
$0.1098
+3.58%
涨跌箭头
JTO
JTO
$0.5053
-1.69%
涨跌箭头
BTC
BTC
$63,081.99
-0.05%
涨跌箭头
ETH
ETH
$1,870.92
+0.29%
涨跌箭头
BNB
BNB
$579.70
-1.51%
涨跌箭头
XRP
XRP
$1.06
-0.23%
涨跌箭头
SOL
SOL
$73.01
-0.35%
涨跌箭头
TRX
TRX
$0.3283
+0.40%
涨跌箭头
HYPE
HYPE
$52.27
-4.92%
涨跌箭头
DOGE
DOGE
$0.07016
+1.36%
涨跌箭头
ZEC
ZEC
$467.77
+2.20%
涨跌箭头
XMR
XMR
$361.36
+4.06%
涨跌箭头
LINK
LINK
$8.11
-0.32%
涨跌箭头
XLM
XLM
$0.1718
+1.60%
涨跌箭头
CC
CC
$0.1174
-1.20%
涨跌箭头
BCH
BCH
$208.70
+1.11%
涨跌箭头
TON
TON
$1.40
+0.75%
涨跌箭头
LTC
LTC
$44.32
-1.40%
涨跌箭头
HBAR
HBAR
$0.0701
+3.33%
涨跌箭头
SHIB
SHIB
$0.0{5}498
+7.33%
涨跌箭头
AVAX
AVAX
$6.37
-0.39%
涨跌箭头
SUI
SUI
$0.6849
-0.04%
涨跌箭头
UNI
UNI
$4.12
-4.18%
涨跌箭头
CRO
CRO
$0.05485
+0.51%
涨跌箭头
NEAR
NEAR
$1.67
-0.06%
涨跌箭头
TAO
TAO
$193.90
+1.36%
涨跌箭头
XAUT
XAUT
$4,042.14
+0.32%
涨跌箭头
ONDO
ONDO
$0.3901
-2.84%
涨跌箭头
BFUSD
BFUSD
$0.9991
-0.02%
涨跌箭头
PAXG
PAXG
$4,046.64
+0.34%
涨跌箭头
OKB
OKB
$86.38
+1.46%
涨跌箭头
ASTER
ASTER
$0.6
+0.33%
涨跌箭头
WLFI
WLFI
$0.0538
-1.28%
涨跌箭头
AAVE
AAVE
$91.61
-5.70%
涨跌箭头
M
M
$1.09
-16.44%
涨跌箭头
SKY
SKY
$0.05609
-1.08%
涨跌箭头
MNT
MNT
$0.3965
+0.79%
涨跌箭头
DOT
DOT
$0.771
+2.12%
涨跌箭头
PEPE
PEPE
$0.0{5}277
+0.73%
涨跌箭头
BGB
BGB
$1.63
+0.02%
涨跌箭头
ICP
ICP
$2.07
+0.58%
涨跌箭头
JITOSOL
JITOSOL
$94.38
-0.89%
涨跌箭头
ETC
ETC
$6.62
-0.15%
涨跌箭头
USDD
USDD
$0.9986
+0.01%
涨跌箭头
JST
JST
$0.1041
+0.64%
涨跌箭头
KCS
KCS
$6.56
-0.07%
涨跌箭头
WLD
WLD
$0.3053
+0.43%
涨跌箭头
POL
POL
$0.0728
+1.36%
涨跌箭头
PI
PI
$0.0877
+8.67%
涨跌箭头
BNSOL
BNSOL
$82.10
-0.12%
涨跌箭头
PUMP
PUMP
$0.002157
+7.37%
涨跌箭头
U
U
$1.00
-0.03%
涨跌箭头
QNT
QNT
$62.07
+3.43%
涨跌箭头
GT
GT
$6.50
-0.15%
涨跌箭头
MORPHO
MORPHO
$1.97
+0.10%
涨跌箭头
KAS
KAS
$0.02707
-0.77%
涨跌箭头
ALGO
ALGO
$0.0801
+2.17%
涨跌箭头
ENA
ENA
$0.0814
+0.74%
涨跌箭头
币安人生
币安人生
$0.6243
-2.57%
涨跌箭头
JUP
JUP
$0.1916
-0.73%
涨跌箭头
ATOM
ATOM
$1.24
-0.16%
涨跌箭头
STABLE
STABLE
$0.03403
+0.15%
涨跌箭头
FIL
FIL
$0.713
-0.72%
涨跌箭头
FLR
FLR
$0.006209
-1.07%
涨跌箭头
VVV
VVV
$11.91
+0.77%
涨跌箭头
LIT
LIT
$2.04
-5.18%
涨跌箭头
XDC
XDC
$0.02647
+0.42%
涨跌箭头
INJ
INJ
$4.92
+1.21%
涨跌箭头
CAKE
CAKE
$1.42
-2.81%
涨跌箭头
NEXO
NEXO
$0.718
+0.28%
涨跌箭头
ARB
ARB
$0.0785
+2.88%
涨跌箭头
APT
APT
$0.559
+0.36%
涨跌箭头
VET
VET
$0.004715
+1.03%
涨跌箭头
DASH
DASH
$31.45
+5.36%
涨跌箭头
AERO
AERO
$0.4158
-0.65%
涨跌箭头
PENGU
PENGU
$0.005957
-0.80%
涨跌箭头
VIRTUAL
VIRTUAL
$0.5469
-1.85%
涨跌箭头
SUN
SUN
$0.01788
-0.11%
涨跌箭头
TRUMP
TRUMP
$1.43
-0.49%
涨跌箭头
FET
FET
$0.1415
-0.07%
涨跌箭头
CRV
CRV
$0.2056
-0.77%
涨跌箭头
NIGHT
NIGHT
$0.01801
-1.32%
涨跌箭头
TIA
TIA
$0.3292
+3.20%
涨跌箭头
LDO
LDO
$0.336
-5.59%
涨跌箭头
ETHFI
ETHFI
$0.401
+0.30%
涨跌箭头
GNO
GNO
$105.02
-0.40%
涨跌箭头
SEI
SEI
$0.04147
-0.69%
涨跌箭头
LUNC
LUNC
$0.0{4}4957
+0.96%
涨跌箭头
NFT
NFT
$0.0{6}2685
-0.67%
涨跌箭头
BTT
BTT
$0.0{6}263
+1.19%
涨跌箭头
BSV
BSV
$12.64
+0.56%
涨跌箭头
STX
STX
$0.1368
-0.65%
涨跌箭头
BONK
BONK
$0.0{5}28
+1.08%
涨跌箭头
PENDLE
PENDLE
$1.41
-0.28%
涨跌箭头
DCR
DCR
$13.14
-3.67%
涨跌箭头
PYTH
PYTH
$0.03951
-0.78%
涨跌箭头
MON
MON
$0.02083
+0.05%
涨跌箭头
CFX
CFX
$0.043
+1.99%
涨跌箭头
JASMY
JASMY
$0.00446
+3.72%
涨跌箭头
ZRO
ZRO
$0.74
+1.79%
涨跌箭头
IMX
IMX
$0.1098
+3.58%
涨跌箭头
JTO
JTO
$0.5053
-1.69%
涨跌箭头
Market
/STABLE Price
币种icon
STABLE
STABLE
No.104
$0.03403
+0.15%
≈$0.03
Market Cap
$3.4B
Cir. Cap
$598.93M
Cir. Supply
17.6B
Cir. Rate
17.6%
Total Supply
100B
Max Supply
100B
24h Volume
$277.32M
24h Vol (BTC)
9.43M
24h Turnover
1.575133%
Market Share
0.02%
Performance
Low
0.03
Range
+0.03%
High
0.03
Listing
$0
ATH (2025-12-24)
$0.05432
-37.35%
ATL (2025-12-08)
$0.003
+1034.33%
Official
Contract
BSC: 0x011E...90075F
Official
Network
Converter
Chart
Market
Price
Cap
K-line
Depth
1 Minute
5 Minutes
15 Minutes
1 Hour
4 Hours
1 Day
TradingView
1H
+0.15%
24H
+0.15%
7D
-14.63%
30D
-0.79%
1Y
+1.03K%
All
0%
AI Assistant
STABLE下跌原因
STABLE资金流向
STABLE买卖支撑位
STABLE多空比分析
STABLE趋势分析
Ask AI
STABLE Market
CEX Spot
CEX Derivatives
#
Exchange
Pairs
Price
+2%Depth
-2%Depth
Volume (24h)
1
Hyperliquid
STABLEUSDC
0.033939
$2,184.99
$1,492.79
15
2
Bitfinex
STABLEUSDT
0.034496
--
--
548
3
KuCoin
STABLEUSDT
0.033984
--
--
8,286
4
CoinEx
STABLEUSDT
0.034047
--
--
17,186
5
gate.io
STABLEUSDT
0.034055
--
--
23,234
6
Bitget
STABLEUSDT
0.03408
--
--
28,721
7
BingX
STABLEUSDT
0.034055
--
--
36,559
8
MEXC Global
STABLEUSDC
0.034002
$2,184.99
$1,492.79
55,576
9
Bitunix
STABLEUSDT
0.03405
--
--
71,329
10
MEXC Global
STABLEUSDT
0.034049
--
--
80,549
50%
50%
Bullish
Bearish
Community
Crypto Tony
5h ago
$ETH/$USD - Latest Updates Ethereum's relatively stable trading range remains intact, and positive factors persist.
307
0
0
38
Fishman #FishHall
8h ago
Good afternoon, brothers, happy Saturday! Time really flies. A week has passed in the blink of an eye, a month has passed in the blink of an eye. It feels like time is passing by so quickly. I hope for peaceful times. ✅️Market Review and Analysis Continuing the oscillating market, as mentioned in yesterday's blog post, the monthly chart didn't close well. Bitcoin reached a high of 65400 yesterday before starting to pull back. It reached the entry point for a long position given yesterday, around 62800. Currently, I'm holding a small long position here, with a stop-loss at 62400, a 400-dollar stop-loss range. Bitcoin follows the overall market trend. Intraday support is around 1850. There won't be much market movement over the weekend. Conservative traders can consider shorting at higher levels. Given the current market liquidity... Breaking through emotional and atmospheric barriers is extremely difficult; a high-level mindset is fine. ✅️Spot and MEME sectors Currently, market liquidity is extremely scarce. Nobody's playing with junk altcoins anymore; trading volume is frighteningly low. If it weren't for some market makers artificially inflating volume, the daily natural volume for many altcoins would be incredibly low. The listing of US stocks on various exchanges has drained too much liquidity from the crypto market. For spot trading to have any movement, just wait and see; you can only wait until the overall market rallies, until the next bull market arrives. Regarding MEME, I've been recommending it for the past two days: HcfnJxLov6tY8i1dq9uYRRZKCvxADPpovcfkyXzdpump $Chonketha This also resulted in more than doubling in value. It's better to be confident and stable in this situation, and not be afraid of market corrections. Then, we just need to wait for the big gold release from BSC. The market has expectations and anticipation. As long as there's a push, a lot of capital will rush in. The post by the "brother" (referring to a prominent figure in the Binance ecosystem) has given the market hope that another Binance-like success story will emerge. Yesterday, $GIGGLE also saw a strong surge. Charity has always been the "brother's" way of doing things. @cz_binance Main Focus ✅️US Stocks While the cryptocurrency market's funds aren't enough to significantly impact US stocks, the volatility of US stocks completely influences cryptocurrency sentiment. The cryptocurrency market isn't a large financial sector to begin with; initially, there was a massive influx of funds into the A-share market, followed by a return to US stocks. The recent surge in US stock account openings, coupled with the launch of exchanges, has led to more speculative trading using leverage and contracts. US stocks are highly volatile; SanDisk saw a 40% rebound yesterday. Hynix is the worst performer in the market; it's all about expectations and then a continuous decline, designed to shake out bulls. Yesterday, US stocks rebounded collectively, but today they're starting to correct, currently in a sideways pattern. This correction should be over soon, and an upward trend is highly probable. #Saturday
377
0
0
39
CryptoRank.io
22h ago
🔓 August Major Token Unlocks The following tokens, with the highest unlock value, will unlock this week: $RAIN — $641.4 million $ADI — $49.14 million $PROVE — $39.2 million $KAITO — $35.53 million $STABLE — $30.47 million $DATA — $24.3 million $ZRO — $18.65 million
314
0
0
41
SOL I don't understand
22h ago
Goodnight, brothers! – Today's Market Recap: BTC Volatile, Heading Towards the Weekend Brothers, it's Friday, and the market is generally volatile: BTC is consolidating within its current range, with short-term sentiment relatively stable. US Stocks: The three major indices are diverging, with technology and growth sectors performing actively, but overall trading volume is cautious, indicating a consolidation phase at high levels. Weekend Recommendation: Adjust your mindset and get some rest. This week's market has been up and down, and short-term volatility can be exhausting. It's the weekend, so I suggest everyone turn off the charts and relax. Spend time with family, read a book, recharge, and detach your emotions from the market. The true power of dollar-cost averaging lies not in watching the market every day, but in long-term persistence and a stable mindset. Invest a fixed amount at a fixed time, avoid chasing highs and lows, smooth out costs over time, and enjoy the power of compound interest. Brothers, the market will always fluctuate, but life shouldn't be all about market movements. Get some rest, adjust your mindset, and let's continue to stabilize together next week. Have a great weekend! Welcome August!
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Chain Research Institute | AI First 🔶💧
07-31 21:27
The most surreal aspect of this AI earnings season is how the market is repricing several giants. The same massive AI bets are being treated drastically differently. $MSFT $AMZN After the market closed on July 29th, Microsoft's stock rose 9% after releasing its earnings report. On the same day, Meta's stock fell as much as 8.3% after its earnings report. Both companies are pouring money into AI, yet the treatment they receive is worlds apart. I've been watching these earnings reports for two days, and my conclusion is straightforward: the market no longer cares who's betting heavily on AI. The narrative of 2023, where anything related to AI would rise, is over. Now, the market only asks one question: does your AI strategy make sense? I. The Pricing Logic Has Changed: From Narrative to Accounting The old logic was simple. You said you were going to do AI, and the market would give you a valuation. It was a competition of who could shout the loudest and who could invest the most. Now it's different. Microsoft, Google, Meta, and Amazon all released their reports in the same week, with capex in the hundreds of billions, yet their reactions were completely different. The market only cares about one thing: whether the money was well spent and whether it can be recouped. I break down the market's reaction; it's actually going through four hurdles: First, has the growth rate accelerated? If cloud business is still accelerating, the market is reassured. Microsoft's intelligent cloud and Google Cloud are both exceeding expectations in growth, providing confidence. Second, has unit economics improved? For every dollar invested in AI, is the return more than before? Self-developed chips are a key variable in this hurdle, which I'll discuss later. Third, is there external support for demand? Simply saying demand is strong isn't enough; there must be contracts. RPO (Residual Performance Obligation) and backlog are the most valued evidence by the market. The fourth hurdle is hidden underneath: can the timing mismatch of cash flow be controlled? If you burn through tens of billions this year, and the cash won't be returned for five years, can the market tolerate that gap? Google's penalty stemmed primarily from questions surrounding this hurdle. Passing three out of four hurdles earns a reward. Failing even one results in a direct valuation drop. II. Three living examples: Different hurdles passed, different treatment. Microsoft passed three hurdles. Azure's growth is accelerating, and RPO backlogs are hitting new highs, proving that enterprise AI demand is genuine. Even more ingeniously, Microsoft adjusted its capex accounting, extending building depreciation from 15 years to 25 years and shifting some leases from financing to operating. The market interprets this as proactive cash flow management; while capex figures appear lower, actual investment hasn't stopped. Demand exists, and the accounts are clear, leading to a 9% after-hours rise. Google passed two and a half hurdles. Google Cloud grew 82% year-over-year, with its backlog reaching $514 billion, making it the most successful at validating demand. However, its quarterly capex surged to $44.9 billion, and its full-year guidance was revised upwards to $195 billion to $205 billion, causing free cash flow to turn negative to -$5.86 billion. The market initially fell by about 4%, concerned about cash flow mismatch. But its demand was genuine, so it wasn't severely impacted. Meta failed to pass any hurdle. Second-quarter revenue was $60.8 billion, a 28% year-over-year increase, which looks good. But free cash flow was only $784 million, a sharp 91% year-over-year drop. Net profit was $15.8 billion, a 14% year-over-year decline. Capex continued to rise, with full-year guidance at $130 billion to $145 billion. Most critically, the AI investment didn't generate incremental revenue in its core business, and the two return paths of computing power rental and enterprise services hadn't yet proven successful. The market voted with its feet, with the stock falling 8.3% in after-hours trading. The same AI story: Microsoft was seen as the right solution, while Meta was seen as a gambler. The difference lies in how robust the financial statements are. III. The Significant Difference in Payback Periods: Self-Developed Chips are the Watershed. The market is scrutinizing financial statements, with a key metric being the payback period. Third-party calculations show Google Cloud's payback period is approximately 2.5 years, AWS about 4 years, and Microsoft about 6 years. Where does this difference come from? The core lies in self-developed chips. Unit computing power cost: GB200 is approximately $2.28 per GPU-hour, Google TPU v7 is approximately $0.96, and Amazon Trainium3 is approximately $0.78-$0.86. Google and Amazon develop their own chips, reducing costs and achieving faster payback. Microsoft heavily relies on Nvidia, suffering cost disadvantages and experiencing slower payback. This is why the market is more tolerant of Google than Meta. Google's self-developed stack can justify its cost reduction strategy, while Meta's computing power is largely purchased, burning money without demonstrating profitability. IV. Which Types of Companies Are Favored? By reviewing the seven companies, the characteristics of those currently favored by the market are quite clear. First, verifiable demand. They have cloud backlog, RPO, and large customer contracts. Google Cloud's $514 billion backlog is the best safeguard. Second, improving unit economics. Either they are reducing costs through self-developed chips (Google, Amazon), or their cloud business profit margins are increasing (Microsoft, Google Cloud profits have tripled). Third, those selling shovels are the most stable. Nvidia basically doesn't have a capex burden; customers borrow money to buy its cards, and it directly collects payment. It's the most favored in this round, with the simplest logic. Fourth, controllable cash flow mismatch. They dare to burn money, but the market can see the recovery path, and the timing mismatch shouldn't be too outrageous. Conversely, the characteristics of those not favored are also obvious. Heavy asset investment with an unverifiable return path (Meta's current predicament), pure cash burning without visible revenue growth, or like Apple, AI investment being eroded by hardware price increases and consumer apathy. SpaceX and Musk's approach is different. Acquiring Cursor, leasing computing power, and integrating xAI, they follow a vertically integrated route of computing power, applications, and terminals, neither building a general-purpose cloud nor commoditizing models. The market hasn't yet given it a clear pricing anchor; it's more like betting on whether Musk can succeed. V. A Major Overlooked Risk: Off-Balance Sheet Leverage (The part beneath the iceberg)The seven major AI companies' ASC 842 operating lease commitments total approximately $1.2 trillion, which are off-balance-sheet liabilities. Microsoft shifted some leases from financing to operating, seemingly reducing capex, but the off-balance-sheet commitments actually rose to $329.1 billion. The current cash flow pressure may only be the tip of the iceberg. The commoditization of AI models is also changing the rules. Open-source models are catching up with closed-source ones; DeepSeek-V4-Pro scores 65.1 overall, GPT-5.4 scores 67.3, prices have dropped 1000 times, and usage has increased 10,000 times. Those who truly profited from this wave were those selling computing power and building cloud infrastructure. Those who bought models missed out. This earnings season clarifies one thing: AI is no longer a magic buzzword that can cover up everything. The market is starting to examine the fundamentals. If you can demonstrate demand, explain cost reduction, and make cash flow mismatches manageable, prices will rise. If you can't prove it, no amount of money can change the fundamental problem. For the next few quarters, just keep an eye on three things: the backlog of cloud orders, whether prices are still rising, whether self-developed chips can reduce costs, and whether free cash flow can avoid becoming a major deficit. If these three things pass, the company will be viewed favorably. If they don't...
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GiGi Lucky Pig
07-31 19:34
Recently, US-listed cryptocurrencies have been under pressure, with price fluctuations directly impacting earnings reports. Strategy released its Q2 report after the market closed yesterday, showing a net loss of $8.22 billion, almost entirely due to a write-down of the fair value of its Bitcoin holdings—a pure book loss. As of July 26th, it held 843,775 BTC, with an average cost of $75,476. Because this was announced in advance, it remained largely unchanged after hours, closing at $97.74. Coinbase reported revenue of $1.22 billion on the same day, below expectations and down approximately 19% year-over-year, with a net loss of $360 million. Declining trading volume was the main reason, and the stock fell 5% to 7% after hours. Bitcoin is currently fluctuating around 64K. I think these two companies have completely different approaches. Strategy is essentially a Bitcoin leverage tool; GAAP numbers are a lot of noise, but what really matters is the amount of Bitcoin held and their balance sheet. They reduced debt and accumulated cash this quarter, a pragmatic move. Coinbase is a legitimate business; subscription services are almost half the market, and their market share is hitting new highs, showing increasing resilience. However, in the short term, it's still tied to trading volume. August has historically been unfavorable for crypto, so funds are on the sidelines. If the price breaks 60,000, both companies will likely exert further downward pressure. But if it stabilizes or gradually recovers, Strategy's write-downs will reverse quarterly, offering the greatest upside potential. Coinbase, on the other hand, needs to wait for trading volume to truly recover. In the long term, I'm more optimistic. The market is near the bottom of the cycle, institutional funds are still present, and there's a chance for a rebound in the second half of the year or next year. Don't chase the price in the short term; wait for more stable price signals before taking action. DYOR (Not investment advice)
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Crypto Wesearch Daily Crypto Research
07-31 18:18
To view the full content, please subscribe to the Crypto Weekly Report. Stay informed with weekly macro trends and anticipate alpha gains! 💥 💡 Market Overview This week, the crypto market transitioned from high levels to consolidation. BTC briefly rebounded above $65,000, but stabilized after falling back due to ETF outflows and pre-Fed meeting caution. ETH remained relatively stable. A combined outflow of approximately $350 million from BTC and ETH ETFs indicates conservative institutional buying. The Fed maintained interest rates at 3.50%–3.75%, but with three officials supporting rate hikes, hawkish sentiment intensifying, and the economy remaining resilient, the rebound was limited. Vitalik Deconstructs Diamond iO: How to Bring the "Impossible Obfuscation" Closer to Reality by @VitalikButerin Cryptographic obfuscation aims to make programs "executable but incomprehensible," a concept previously difficult to implement due to its time-consuming nature. Diamond iO reassembles Attribute Encryption (ABE) and Fully Homomorphic Encryption (FHE) in a simpler way, allowing decryption only when the program is executed correctly. Vitalik points out three major challenges: decryption threshold, output randomness, and input encoding. Its security relies on two relatively new mathematical assumptions, and efficiency still needs improvement, but its simplicity and ease of collaborative research and optimization are its strengths. Full content is available on CoinResearch Substack. Subscribe! 🔥
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Feifan
07-31 18:09
Let me share my current thoughts on US interest rates. Currently, three main forces are vying for dollar capital in the market. However, their resistance to high interest rates is drastically different: The US Treasury (backed by the power to levy taxes) and tech giants (possessing massive and stable cash flows) are completely insensitive to interest rates and will continue to issue debt even at high borrowing costs; they can be considered the absolute power players. The weaker players are primarily ordinary households (first-time homebuyers), small businesses and startups, and commercial real estate. Because the government and tech giants are continuously engaging in large-scale spending, they are just managing to prop up the economic fundamentals, preventing inflation and aggregate demand from falling. It's just that the weaker players are slowly bleeding money under high interest rates. This is also the point of contention within the Federal Reserve at this meeting. Continuing to raise interest rates is no longer very meaningful, because the source of inflation will still be borrowing money at high interest rates, and the weaker players will be driven out of the capital markets by high interest rates. If the Federal Reserve is forced to cut interest rates this year, it means that ordinary private businesses cannot withstand the pressure. In essence, the policy makes time extremely expensive; assets without cash flow support will slowly wither away. In retrospect, this has actually led to the elimination of the weaker players.
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Ethereum Daily
07-31 16:35
🔥 The total value of Risk-Weighted Assets (RWA) on the Robinhood cryptocurrency blockchain continues to climb. As of the end of July, RWA had reached nearly $28 million. The majority of this value comes from stocks, with ETFs, commodities, and government bonds making up a smaller proportion. The upward trend is clear and stable—no sharp drops, only steady growth. Real-world assets on this chain are gaining genuine attention.
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CoinMarketCap
07-31 16:20
CMC Market Pulse: Context-Aware Funds Rescue, But Is the Market Saved? BTC fell 1.92%, ETH rose 0.72%. The total market capitalization of cryptocurrencies fell to $2.19 trillion as Citadel's bailout of Leopold Aschenbrenner's Context-Aware Fund fueled a momentum stock rally. Let's analyze this week's hot topics in the cryptocurrency market 🧵 1/6 > Total cryptocurrency market capitalization fell 1.35% to $2.19 trillion. BTC fell 1.92%, ETH rose 0.72%. > At the beginning of the week, nearly $1 billion in long positions were liquidated, after which the market stabilized. > Funding rates remained stable, with some even rising into positive territory. > Citadel's bailout of Leopold Aschenbrenner's Context-Aware Fund triggered a strong rebound in momentum stocks. Strategy increased its dollar reserves by $525 million, bringing the total to $3.75 billion. A New York bank launched a digital transfer agent to support native digital funds. SK Hynix's stock price plunge triggered malicious liquidations; TradeXYZ refunded losses incurred from the stock price crash. The S&P 500 rose 0.42%, while the Nasdaq fell 0.90%. Altcoins performed well: DEXE, SOON, UNI, BEAT, and DGB. 2/6 This Week's Highlights: The passage of the CLARITY bill is imminent. The CLARITY bill has been stalled due to prioritizing sanctions against Russia, meaning it is unlikely to pass before the Senate recess on August 8. If the bill fails to pass, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) announced plans to develop their own cryptocurrency rules. > The National Fraternity of Police (NFPS) has expressed support for the bill, reversing its initial opposition. > Clear federal rules remain a missing piece for developers looking to avoid regulatory uncertainty. 3/6 Major Project Updates: > BitMart announced a phased closure, officially ceasing operations on January 31, 2027. > Circle acquired nearly 1,000 blockchain patents from IBM, becoming a leading blockchain patent holder in the US. > Ondo launched Ondo Network, an execution layer supporting Ondo Perps. > Moonpay partnered with Stripe's Tempo to support deposit and withdrawal services. > Base launched Base Verify Onchain, an on-chain Sybil attack defense program that prevents duplicate claims. > Phantom discontinued support for Monad on August 26. Users can export keys to any Monad-compatible wallet. 4/6 DeFi Briefs: > Uniswap launches Permissioned Pools, a hook standard that enables on-chain enforced compliant asset transactions. > 1inch launches Aqua, a self-custodied shared liquidity layer that ensures liquidity across multiple positions in a user's wallet. > Perp DEX GVRT revamps its pre-Token Generation (TGE) tokenomics model, extending all allocation periods to 12 months and linking unlocking speed to activity. > Funding: Sam Altman's World (led by Pantera, $52.5 million), ProphetX ($35 million), Axis Robotics ($12 million seed round), Memecoin.fun ($3.5 million). 5/6 Key Points: > BTC -1.92%, ETH +0.72%: Market cap slips to $2.19 trillion, cryptocurrencies maintain narrow range trading amid stock market turmoil > Citadel's "situation-aware" bailout rescues hot stocks and stabilizes the overall market > Due to Russian sanctions, the Clarity Act stalls, prompting the SEC and CFTC to prepare their own rules > Uniswap's permissioned pool introduces regulated assets to public automated market makers (AMMs) for the first time > Exchange consolidation continues, with BitMart becoming the latest centralized exchange (CEX) to announce its closure Stay tuned
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