泵泵超人

🔶 Yesterday, I came to the first Caishen Temple in Kyoto to pray for $BNB! May it break $2000 soon 🙏

Bringing the little yellow card of BNB Chain @BNBCHAINZH, I went to the first Caishen Temple in Kyoto to worship, drew a big luck, and when I stepped out, I saw $BNB hit a new high again, how wonderful! 😆

During this time, everyone should have been making money on BSC, following Prince @EnHeng456's group car $aster and gaining multiple times, and then Aster also drove a wave of explosion in the BSC ecosystem.

Hmm, while focusing on building the BNB ecosystem, my own wealth has also reached a new height, which is a wonderful mutual achievement between the ecosystem and builders.

You can feel that now the voices of fud about the BNB ecosystem are getting less and less, while the voices of build are getting more and more. From national institutions to enterprise projects, more and more people are choosing to embrace the Binance ecosystem.

I will always hold onto $BNB at $300, I can't imagine how high this round will go!

When coming, the heaven and earth exert the same force! Brother @CZ leads everyone to rush towards the stars and the sea!

— HODL & BUILD

#BNB创新高

The former “fee arbitrage agreement” is now a thing of the past. Ethena @Ethena Labs has fully transitioned into a “multi-strategy yield” engine

👉 According to Ethena’s latest published reserve composition:

Cryptocurrency basis trading currently accounts for less than 1% of USDe’s total reserves—something that used to be Ethena’s primary source of revenue

➤ At the beginning of 2024 when USDe launched: it was commonly used for delta-neutral strategies—capturing the fee-rate spread between long and short hedges

In a bull market, funding rates in the perpetual markets were very high. sUSDe’s annualized yield even briefly surged into double digits. But those high annualized returns were essentially built on the funding rates from the crypto perpetual markets

➤ April 2026: Ethena announced the largest reserve reform since the platform went live

The share of perpetual contract positions was reduced from its former absolute dominance to about 11%. As of now, the basis trading share has already fallen to less than 1%

👉 So what is supporting $USDE ’s main yield right now?

1️⃣ Basis trading in non-crypto markets

Funding-rate spreads and basis price differences in traditional markets like stocks and commodities

2️⃣ Interest income from on-chain DeFi overcollateralized lending

3️⃣ Overcollateralized loans aimed at institutional counterparties

Partners include Anchorage Digital, Maple Institutional, Coinbase Asset Management, and others

4️⃣ RWA (real-world assets): short-duration treasuries, high-liquidity credit assets, etc.

👉 For USDe holders: the holding logic has changed

Previously, you were exposed to a “single funding-rate risk.” Now it’s a diversified portfolio across a “cross-crypto / traditional markets” basket—single-point risk has been significantly diluted

For the entire sector, Ethena is evolving from a “synthetic dollar protocol” into a multi-strategy yield engine

This is closer to the risk-control framework used by multi-strategy funds in traditional finance. Instead of betting on a single alpha, the protocol is more robust

Now it can be officially announced: the label “Ethena = an arbitrage protocol” can officially retire

🤔 From bull market to bear market, the projects that have been constantly handing out money—should there only be USD1 x WLFI?

Honestly. Over the past six months, meal money, fuel, and parking fees have all been paid by $USD1 . The biggest worry is that one day the USD1 wealth-management promotion will end.

Turns out the USD1 giveaway event is back again—August 4 to August 8, five straight days.

👉 Total: 20,000 USD1 + 600,000 of $WLFI

As long as you’re live on the Binance Square streaming USD1 & WLFI related content, @Jiayi Li jiayi (姐) will suddenly drop into the stream to give out red envelopes.

Also, the related Binance chat room has already been set up. Red-envelope codes drop at random intervals—go join and wait there for “fast-forward + add one” 🧧

There’s no banquet that never ends, but really hope the USD1 wealth-management banquet never disperses 😂

🦖 Let’s break it down: CoinGecko’s trading data report on the TradFi sector across major exchanges

Stocks, precious metals, and commodities have become the new battleground for differentiated competition among crypto exchanges. The report covers the TradFi performance of six major CEXs over the past six months

1️⃣ Crypto TradFi market cap growth nearly 5x

Total market cap rose from $1.41B at the start of 2025 to $6.59B as of June 30, a growth of 366.7%

Driven by record highs in gold prices at the beginning of February, market cap briefly hit a peak of $7.5B, then cooled down and fell as metal prices softened

2️⃣ Explosive growth in trading volume

Total trading volume in the first half of 2026 was about $1.45T, roughly 10 times the entire 2025 total. Just in February alone, it recorded $186.32B—easily surpassing the full-year 2025 total

U.S. stock trading volume surged 337.4% in June to $189.84B, for the first time surpassing precious metals, with a market share of 48.3%

Key drivers include strong demand for semiconductor stocks—such as Micron $MU , and SanDisk $SNDK —and speculative frenzy around SpaceX pre-IPO tokenized stocks

3️⃣ Derivatives segment: Open interest surges 77x

The six exchanges’ total OI grew from $60M on January 1, 2025 to a peak of $4.67B on June 30, 2026—up 77 times

4️⃣ Trading volume landscape for CEX TradFi

Binance and MEXC have led during most of 2026

In the early 2025 period, the ranking was unstable: MEXC, Gate, and Bitget traded back and forth as monthly leaders for short stretches—until Binance established consistent leadership in early 2026

Binance saw the fastest growth: January $39.6B → June $231.49B, accounting for more than half of the six-platform total ($393.15B)

MEXC maintained second place for five consecutive months from January through May. In TradFi trading volume, MEXC is in the same tier as OKX and Bitget. In precious metals, its trading volume performance is also fairly solid

👉 Additional insight:

On today’s CEXs, trading volume in U.S. stocks even exceeds that of crypto assets. TradFi is no longer just an add-on feature to crypto exchanges—it has become the new main battlefield

🧐 US Stock Earnings Week Brief: AI computing demand is accelerating, and cloud computing growth exceeds expectations

This week, the four major tech giants released their Q2 earnings. Let’s quickly go over them:

1️⃣ Cloud computing growth exceeds expectations

➤ AWS grew 36.7%, the fastest in 18 quarters; annualized revenue of $169 billion

Even just Amazon’s cloud service ranks among the Fortune 500 top 24—an absolute cash cow for Amazon

Backlog: $496 billion; triple-digit growth. It’s all signed-but-undelivered portions, locking in revenue for the coming years

💡 One thing worth noting:

Amazon’s quarterly net profit was $62.6 billion, with $53.4 billion coming from non-operating gains (the increased value of its Anthropic holdings)

➤ Microsoft Azure, on the other hand, is up 43%; annual revenue first exceeds $100 billion

The stock jumped +15% in a single day—its best since 2008. It added nearly $450 billion in market value in one day

🤔 Even though there’s always a storage shortage, there’s also always a shortage of computing power. Amid the noise in the storage narrative, cloud computing is absolutely being underestimated

2️⃣ A cautionary tale: $META (-8%)

With the same cash-burning, Meta increased its capital expenditures to $130–145 billion

Free cash flow fell 91%, yet its monetization plan to rent out computing capacity is still in the “promises on the drawing board” phase

The market isn’t buying it: the stock dropped -8% in a single day, extending its record of breaking losses for 11 straight days

As the AI narrative enters its second half, the market shifts from paying for stories to paying for “orders and cash flow”

—— Finally, “Sister” @Yi He said: Why run around? The Coin Security Department already has everything—play US stocks, but on Binance! 😆

Intense manipulation, deletion—everything is so intense.

Trying to make a little money on $BANK is exhausting too. Short it on the rebound later 😂

🧐 One of the greatest stocks ever listed on China A-Shares—how should we evaluate it? ChangXin Technology

Country Garden misses out on RMB 40 billion, and is rated by Nomura as one of the greatest stocks in A-Shares history. Compared with Micron $MU / Hynix $SKHY , where does ChangXin’s competitive advantage lie?

1️⃣ Market share is rising

The traditional landscape is Samsung at ~38%, Hynix at ~29%, Micron at ~22%, with ChangXin in fourth place.

In Q1 2026, the revenue share is about 8%. Global market share surged from 3% in Q1 2025 to 8% in Q1 2026. Among the four giants, it’s the only maker with a notably increasing share. DRAM sales revenue grew by more than 700% year over year.

2️⃣ The common DRAM market vacated by the giants—ChangXin has moved in

Samsung and Hynix shift capacity toward HBM. The wafer area consumed to produce one HBM3E chip can produce about three DDR5 chips on the same node.

The three are taking the high-end, while leaving the mid-to-low end open—right now, only ChangXin is receiving orders.

At the same time, Samsung stopped taking DDR4 orders in June 2025 and completed its last DDR4 shipments in December.

Hynix compresses DDR4 capacity to 20% and plans to fully stop production in April 2026. Micron also stops supplying DDR4 in the fourth quarter.

3️⃣ Expansion speed is #1 worldwide

ChangXin’s 2026 capacity expansion increment is about 85k WSPM, the highest globally. By 2028, the total capacity target is about 500k WSPM, roughly 17% of global DRAM production capacity.

For every six DRAM wafers produced worldwide, one may potentially come from ChangXin.

Utilization rates of its three 12-inch fabs rise from 87.06% to 95.73%, and its production-to-sales ratio has stayed at 90% or above for years.

4️⃣ Customers / prospective customers

Alibaba Cloud, ByteDance, Tencent, and Xiaomi all use it; Google is evaluating.

Rumor has it that Apple is considering adding it to the procurement shortlist. Since the giants are all transforming toward high-end HBM and leaving the mid-to-low consumption segment open, demand is huge.

In addition: ChangXin is the only player among the four giants that has been blocked by EUV lithography machines.

With insufficient high-margin HBM capacity, it lacks authority in the high-end market, and its process nodes are 2–3 generations behind.

Several institutions warn that supply may overshoot between 2027 and 2028. New capacity built by the three main DRAM makers plus ChangXin will be released in a concentrated way between 2027 and 2030.

So, ChangXin’s good days come from the fact that major manufacturers have ceded mid-to-low-end capacity, and ChangXin has taken it.

But by then, as other manufacturers free up capacity, it will likely flow back to the mid-to-low end. In other words, ChangXin’s “golden window” may be the next three years 🤔

🔶 In our Z generation, even on weekends, we still trade US stocks with Binance bStocks!

When buying US stocks through traditional brokerages, you have to wait until 9:30 PM to start trading, and the weekly market hours are only 32.5 hours.

If after Friday’s close, Tesla / $TSLA comes out with a big piece of news, you only have a little over 60 hours to act. When the market opens on Monday with a gap up, you’ll just get buried.

👉 The “liquidity” and “window” advantages of Binance bStocks

➤ Traditional US stocks: custody is in your brokerage account, traded according to market open/close.

➤ bStocks: with the same stock exposure, it becomes a BEP-20 token on the BSC chain.

Issued under the framework approved by ADGM FSRA by BTECH Holdings, with 1:1 real stock collateral and reserves you can verify.

One is a number in your account; the other is a non-custodial asset in your own wallet.

👉 bStocks’ exceptionally strong DeFi composability

bStocks can be swapped 1:1 with Binance US stocks anytime, with no conversion fees.

If you want to hold it safely, swap it into the US-stock format; if you want to put it on-chain, swap it into the token format: one asset, two freely switchable states.

Now, bStocks are being gradually enabled for use across ecosystems like Aster and Pancake, and the reach will expand even more in the future.

Holding bStocks-related tokens also lets you earn high annual percentage yields in on-chain protocols—something traditional brokerage accounts can never do.

You can check the bStocks section in Binance Wallet’s “Savings” under “Liquidity Mining Pools” 🤔
#bStocks流动性 #BStocks

🤔 Is Binance’s support for $USD1 really comprehensive? Even US stock futures contracts have started supporting USD1 settlement.

First, a $2 billion investment in MGX—then using USD1 settlement → spot, wealth management, contract margin, and Binance Pay are connected one by one.

Now, perpetuals like $SPCX (RWA) are also being plugged into margin and settlement.

A textbook roadmap: first get you to hold wealth management products → then let you trade with them → and finally have them become the underlying infrastructure for payments and clearing.

When more stocks, private equity, and traditional assets are tokenized on-chain in the future, the “stablecoin ratio” won’t be determined by market cap, but by who owns the settlement layer.

Where is Binance positioning USD1 right now? 🦅👆

👀 Who did Renxun Huang follow for the first time since joining X? 👀

He joined X in June 2026, and his first post went up on July 24, 2026. As of now, he follows about 50 accounts.

The people Huang follows mainly come from these areas: NVIDIA official accounts, AI technology stacks, platform/enterprise CEOs, and capital & influence media.

1️⃣ AI technology stack:

Closed-source models: OpenAI, Anthropic, DeepMind
Open-source models: Hugging Face (platform), Mistral

Plus multiple accounts related to AI, including search, tools, cloud services, and more.

2️⃣ Company CEOs / executives:

Spacex & Tesla CEO Musk, Meta CEO Zuckerberg, former Apple CEO Cook, and others.

3️⃣ Capital / influence:

Besides relatively well-known funds like Sequoia, Altimeter, and Y Combinator.

He also follows several blog/blogger accounts—likely accounts that previously interviewed Renxun Huang.

Renxun Huang’s following is highly concentrated on the AI industry chain, big-tech CEOs, cloud/enterprise software, and VC/storytelling accounts.

There are almost no engineers, journalists, academics, or political figures.

Let’s guess which Chinese account Renxun Huang followed first 😂

Earnings Ranking TOP—what is this new badge? By the way, is $GWEI about to start rebounding? 🤔

$RE is awesome, no wonder it's an RWA project that goes straight to Binance spot 😋

🔷 Trust Wallet & Ondo U.S. stock “Trading / Holdings” 100k u prize pool—possibly the highest ROI trading activity recently

Weekend is almost here, and Trust Wallet has teamed up with Ondo for a U.S. stock trading contest this time

A key point: there’s a “Weekend 1.5x” bonus buff—same principal, but weekend trading efficiency is boosted by 50%

👉 100k u prize pool + limited-time zero fee, with 1,500 winning slots:

1️⃣ Phase 1 · Trading Prize Pool:

7/10 10:00 – 7/22 10:00 UTC, based on cumulative trading volume—split $85,000, with 500 slots. Right now, there are only a couple hundred people on the leaderboard

2️⃣ Phase 2 · Holdings Prize Pool:

7/22 – 8/6. You’re eligible if you reach $1,000 in trading during Phase 1. Split $15,000, with 1,000 slots—basically, as long as you meet the requirements, you can get a reward

Both buys and sells count toward volume; each order must be at least $10 to be counted

👉 Core gameplay: Weekend 1.5x bonus

Among 28 assets, 6 support 7×24 trading + the Weekend 1.5x bonus:

CRCLon (Circle)｜SPYon (S&P 500)｜GOOGLon｜QQQon｜TSLAon｜NVDAon

⏰ Bonus time: Saturday 00:00:00 – Monday 00:04:59 UTC

With the same $1,000 in transaction volume, weekdays count as $1,000, but on the weekend it counts as $1,500. Put your volume into these 6 assets over the weekend, and your efficiency jumps by +50%

Trust Wallet is now fully embracing U.S. stocks—its events and features are iterating fast. With the weekend coming up, it’s better to be smart about what you trade than to just trade more. Come split the prize pool!

— Pretty straightforward. For the detailed tutorial, see the images:

🔶 Interactive Mining Guide: Binance Wallet’s First RWA Vault Is Live—What Are the Advantages of R25?

Binance Wallet’s DeFi was previously integrated with 40+ protocols: lending, LSDFi, and re-staking are all covered—yet RWA has remained blank until now.

Now, this missing piece has finally been added: the on-chain vault infrastructure for R25, deployed on the Pharos blockchain.

This campaign runs for three months: a USDC vault with an approximate annualized yield of ~14.3%, including a $300K subsidy incentive.

1️⃣ What Is APC?

APC’s underlying assets are emerging-market consumer credit, with a three-layer value structure as follows.

➤ Asset Layer:

Consumer credit is one of the largest real-world asset categories globally—massive scale, stable returns—but for a long time it has only been available to institutional investors.

Now, Binance Wallet users can directly subscribe—this narrative is quite compelling.

➤ Management Layer:

The Curator AXIL team comes from BlackRock, HSBC, and HashKey.

Focused on structuring and risk management for private credit in emerging markets, they use AI-driven risk assessment and a multi-layer protection framework.

➤ Returns Layer:

Binance Wallet exclusively provides additional $300,000 in user subsidy. Early participants can earn extra Boost mining rewards (4 days remaining).

2️⃣ Let’s Make It Clear: What Exactly Is R25 Doing? Why Is Binance Especially Favoring It?

APC is only the first template product for R25. After researching R25’s positioning, it’s clear that it’s building on-chain wealth management infrastructure.

On the technology side, R25 has completed everything: the asset standardization layer, the vault configuration layer, and the capital distribution layer. The technical complexity is fully abstracted away—so any team or individual with strategies only needs to focus on the strategy itself.

As long as you have an idea, you can issue your own Vault on R25—no technical background required at all. On-chain fund issuance is about to enter the next era.

👉 From the asset perspective, R25 is far more than just consumer credit—let your imagination run:

US stock ETFs, private credit, commodities, and more vault assets can all be supported.

As long as they meet the standards, they can be “vault-ified.” Issue on R25, and users can easily access it in Binance Wallet.

By opening up your thinking, you may be looking at the layout of global crypto-safe financial wealth management—and it could start right now.

R25 is using a “standardized + modular” approach to lower the barrier for issuing on-chain funds—down to a level where everyone can afford to play~

🤔 Employees who haven’t unlocked yet before August—$SPCX has broken below its offering price. Should we start buying the dip now?

Last month, we talked about the stock unlock timeline for SpaceX’s ordinary-locked shareholders: starting August 6, employees’ shares can begin to be released.

Once employees receive their shares, will they just sell, sell, sell—like when you get an airdrop, will you sell, sell, sell? 😂

Besides the unlock pressure, China has achieved its first rocket recovery, breaking SpaceX’s monopoly in the rocket recovery sector.

👉 SpaceX’s six major moats

1. Engine mass production + reusable operations system:
2. Launch frequency monopoly = crushing unit cost
3. Starlink: capacity dominance turned into SaaS cash flow
4. Spectrum and orbital resources
5. Starship + V3: the next-generation capacity lead
6. Real human spaceflight and government orders

SpaceX’s business flywheel: low-cost launches → build a constellation using its own capacity → subscription cash flow → reinvest into Starship and AI → the capacity gap widens further

Long March 10 (Y) received an entry ticket to the space economy, while SpaceX is already profitable.

China’s space industry started earlier, but the nationwide system doesn’t have survival pressure—so the motivation to push both “technological innovation” and “commercialization” is more difficult.

The biggest problem for China’s space industry is the lack of a business model. In the end, it’s likely to become “state-backed team” infrastructure plus overseas selling of sovereignty—a “Space Silk Road” model.

SpaceX’s commercial moats are high enough, and China’s space industry doesn’t pose a threat in the short term.

If $SPCX falls below $135, it’s already at my buy-the-dip price. It’s relatively safe—wait until early August when employees begin unlocking their shares, then see whether it’s worth entering.

🇯🇵 Actually, we’ve been in Tokyo for several days now. It just so happens that on July 13th, BNB Chain Tokyo is also taking place in Tokyo—if you’re interested, you can sign up~

During the Webx conference, BNB Chain will also host a Side Event.

There will be panel discussions, exhibition interactions, great food and drinks, and all kinds of fun activities. Looking forward to meeting everyone in Japan 😆

Our sponsors for this event are Unitas (yield-stablecoin) and Renaiss (leading TCG). @Renaiss Collectibles

👉 Sign up now for a meet-up and chat: luma.com/bs1rosf9

🔶 For catching Doge, you must use the Binance Wallet. I caught $CZ and $TCC through the “Smart Money” signals

The Smart Money signals in the Binance Wallet are getting more and more effective. After each push, the upside has been very impressive.

➤ $CZ was at 7 AM. I was woken up by the Binance Wallet’s Smart Money signal. After getting in, I ended up eating more than a 5x gain.

➤ $TCC was pushed while I was out shopping in the evening. Although I only bought with 0.5 BNB, I still caught the biggest wave of the rally.

👉 The meaning of the Smart Money signal is: even if you don’t have the “gift” (insight), it still gives you a chance to follow along.

Even if you’re not sitting in front of your computer, as long as you see the signal, you can still catch early Timing. This feature is great—kudos to the wallet team 👍

- Feels like the meme season is coming. Use the Binance Wallet now
https://web3.binance.com/referral?ref=1PUMP

(Join via the pump pump referral link—you can save 30% on fees)