kithe

This BTC surge has been fierce—wiping out a wave of short sellers.

Key data:
In the past 24 hours, total liquidations across the entire network amounted to $1.408 billion, with 154,000 people liquidated
Short positions liquidated $1.227 billion, accounting for nearly 90%; long positions only $181 million
BTC contributed $900 million; ETH about $236 million
The largest single liquidation occurred on Hyperliquid: a BTC short position liquidation of $25.13 million

What happened:
BTC jumped from 69,000 to over 76,000, rising nearly 10% in 24 hours. People who were highly leveraged short at the higher levels couldn’t hold; with each step up in price, more shorts were forced to liquidate. Those liquidations closed out short positions, which in turn pushed the price higher—this is a short squeeze. The money from short liquidations became fuel for longs to rally.

Actually, this round began as early as mid-month: Trump’s remarks about getting Hyperliquid into compliance and bringing it into the U.S. sparked a wave of sentiment. After that, those high-leverage BTC short positions worth hundreds of millions of dollars were gradually liquidated. The earlier short whale with 1,800 BTC was a case in point.
$BTC

Regarding the CLARITY Act, my judgment is simple:

In the short term, it’s unlikely to pass, but it’s also not that important.
1. The bill matters, but it’s not a must-have option
The core is to use legislation to clearly draw the regulatory boundary between the SEC and the CFTC.
But the Senate has already been blocking it for months—DeFi and stablecoin yield are still being debated, and with the midterm elections, the time window is actually very short.
So I’m not too concerned about whether it passes.

2. What’s really worth watching is probability volatility
Trump’s remarks, the SEC compliance ICO framework, and CFTC Chair Selig’s statements could all make the likelihood of passage jump in the short term.
I opened my position with @bagel_win at within 20%; now it’s already back to 28%.
So:
Don’t bet on the outcome—watch the probability.

3. Regulation has already been stepping in early
The SEC’s compliance ICO channel is essentially laying a track for tokens:
Securities → leaving the securities attribute → commodities

The CFTC is also pushing exchanges, broker-dealers, market makers, and perpetual platforms into the regulatory system, and Hyperliquid will most likely follow this path too.

Plus, with token taxonomy, asset classification, issuance, and trading regulation are all being rolled out gradually.

So, to put it plainly:
Even if CLARITY doesn’t pass, regulation won’t stop.
Of course—what if it does pass? Then consider it as waiting in advance.😏
$BTC
#特朗普敦促国会通过Clarity法案

GM～

After waking up, the big cake is already at 75,000—no doubt the market is really here.

Thankfully I cut my position and ran, because my liquidation price was at 74,000 😭

Now the teachers in the community are starting to get restless, and the teachers on social platforms are also becoming active.

Damn it, you project devs—fire up and launch it fast!

Today’s BTC:
Short-term momentum is strong, but it’s already clearly overbought—be careful of a overheated pullback.

BTC surged about 7.4% in the past 24 hours. The latest price is around $74,664, briefly touched $75,042 during the day, and hit the highest level in nearly a few months.

This rally is driven jointly by institutional capital returning + macro tailwinds. Technically, momentum is sufficient, but various overbought indicators are clustering into triggers—short-term pullback risk is building up.

What to watch: key supports—around 72,000 (the upper edge of the prior consolidation range) and 69,700–69,000 (the breakout confirmation zone).

Key resistance: the 75,000 psychological level and today’s high at 75,042.

Next, we need to see whether the 75,000 level can hold effectively. If it breaks through, it opens upside space; if it keeps being tested repeatedly, it may pull back!
$BTC

A certain huge whale opens short positions with a value of about $81.60 million in BTC and ETH

Current positions:
20,000$ETH ($45.69 million)
500$BTC ($35.93 million)

Liquidation prices:
ETH $2327.03
BTC $72755.85

With this market and this sentiment, if they still dare to play like this, they’re probably going to be gg

TermMax’s Curator Mechanism: Who Manages Risk in the Fixed-Income Market?

@TermMax In traditional finance, mature products are always backed by professional institutions that handle asset screening, risk assessment, and capital management—especially in fixed income. Users don’t just look at yield; they also want to know where the yield comes from, whether the underlying assets are high-quality, and how the risks are controlled. TermMax’s Curator mechanism is designed to solve exactly this.

You can think of Curator as a professional manager in the fixed-income market. It develops strategies and participates in risk controls tailored to different assets and markets, helping capital find suitable allocation directions. The role is similar to a fund manager and asset management institution in traditional finance.

On-chain assets are no longer limited to BTC, ETH, and stablecoins. In the future, RWA, tokenized stocks, and many other asset types will come in, with significantly different risk-and-return logic. It’s hard to manage everything well by applying the same set of rules. Going forward, the fixed-income market won’t just compete on capital size—it will also compete on the ability to manage assets and risk.

At its core, it’s about matching capital with risk. Lenders want stable returns, but they don’t have the time or energy to research every individual asset. Borrowers want financing, but they also must meet risk requirements. Curators act as a more professional bridge between the two sides, forming more reasonable interest rates and clearer risk boundaries.

Of course, this mechanism must be proven over time: how to select reliable Curators, how to evaluate strategies, and how to prevent excessive concentration of risk—these will determine whether the system can truly work.

Early DeFi emphasized openness and participation by everyone, but as the market grows, professional division of labor is inevitable. From fixed-rate lending to RWA, options, institutional financing, and then to a Curator system—TermMax is building a fixed-income infrastructure.

As the $TMX TGE gets closer, it’s worth looking not only at token incentives, but also at whether these mechanisms can grow into an ecosystem that runs continuously.
#TermMax

South Korea is going to tax crypto assets—meaning even overseas exchanges and private-key wallets won’t be able to escape. Starting in 2027, if you make a profit, you’ll have to pay a 20% tax, and the combined local taxes can reach 22%. The National Tax Service also admits that tracking individual wallets is difficult, but it’s preparing technical means.

This move is quite interesting—it shows that regulators are starting to take the “income” attribute of crypto assets seriously. In the past, everyone thought of it as an investment, but now it’s being treated as “other income.” Underneath, it reflects how the whole industry is becoming increasingly mainstream, and even the tax system has to keep up.

What once seemed far from us now looks like compliance and transparency are becoming the trend.

Oh wow, Big Pancake hit 71000

Good thing I manually stopped out some positions yesterday—otherwise today I’d be deep in the red

The 2200 ETH is back to breakeven too, and I also took profit on the long in Hype

This familiar push-back feeling— is it you?

🐮

$BTC

Polygon Labs' CEO says stablecoins can improve capital efficiency—this actually makes a lot of sense. Think about it: most people's money in their wallets is basically just “lying around” there all day, doing nothing.

Payment speed is becoming increasingly crucial, especially for cross-border and high-frequency scenarios. Millisecond-level performance isn’t something to brag about—it’s genuinely needed. Traditional banks are still slow in transferring, while on-chain payments have already gotten close to real-time.

I think the market may not have fully caught on yet—what can truly create a gap is the projects that can push capital utilization higher. Pair stablecoins with high-frequency payments, and this combination looks quite promising.

In the coming years, whoever is able to tackle this first will most likely be able to attract more real users with real money.
$POL

Brothers, pay attention! $ALIGN goes live today!

Aligned has always stayed relatively low-key, but what it does is very practical—helping fintechs and institutions use Ethereum as the backend for global finance.

Wallets, one-click Rollup, ZK proof aggregation, interoperability—everything is packaged for you, no more cobbling together a pile of vendors. The team itself is made up of old hands from Starknet and zkSync, and they’re from LambdaClass—solid technical foundations.

The biggest news today is that at 3:00 PM UTC (11:00 PM Beijing time), $ALIGN will officially TGE! Total supply is 10 billion, with initial circulating supply of about 16%. Even more intense: Coinbase has already publicly announced support. You can generate a deposit address directly on Coinbase. Transfers still have to wait for the issuer to unlock, but the big exchange’s entry is a pretty clear signal.

Airdrops can also be checked—just connect your wallet on the community page. Small allocations get paid out directly; larger ones will be released. The project has evolved from proving ZK cheaply to becoming a full financial infrastructure. Now the token has landed—next, it’s all about real-world deployment and partnership progress. If you’re interested, go check the official website and follow @alignedlayer to learn more.

$ALIGN is launching today—just keep an eye on what happens next.

Is this real bull energy, bro?

For three consecutive days now, they’ve been minting USDC nonstop.

Today Circle also directly minted 500 million USDC on Solana—two times, 250 million each.

Large-scale stablecoin minting basically means real money is moving in. And especially since it’s being poured into Solana—Solana has already been bustling these past few days. With funds adding another push, it feels like market sentiment is being propped up a bit again.

Of course, minting doesn’t equal an immediate surge. But this kind of rhythm for three straight days at least suggests that big players or institutions are preparing ammunition. You decide for yourselves—don’t just stare at price moves. This flow of funds is also worth keeping an extra eye on.$CRCL $SOL

Bitcoin’s price suddenly surged last night, and Strategy’s unrealized position losses shrank dramatically. Now the market value of the 840-plus BTC they hold is nearly 60 billion yuan—cost basis 75,000 yuan per BTC. They’re still down 5.35 billion yuan, but they’re only about $6,400 away from breaking even.

This rebound is pretty important for institutions, especially long-term holders. Market sentiment has warmed up, which may prompt some previously trapped institutions to start loosening up. However, it’s still too early to say they’ve fully turned things around, since Bitcoin remains volatile.

If they can stabilize from here, perhaps more capital will move in.
$BTC

Bull returns fast!!!

MAD, is this内幕? 13 hours ago that trash giant whale created a new wallet

Deposited 2k knife, immediately 4x went long $ETH

Now it's already in profit 666w knife

Is this a coincidence or insider info???

No wonder they pulled the market just now

A White House adviser publicly stated support for the crypto bill—this move is kind of interesting.

The CLARITY Act has just passed Congress, and someone has already stepped up to back it, which shows the market is becoming increasingly sensitive to policy developments.

The core of the bill is to grant clear legal status to crypto assets. In plain terms, it’s about making regulation clearer.

The key now is whether the Senate can push it to a vote before September 15. Dragging it out too long could affect industry confidence.

Behind all this, it reflects the fact that the U.S. is trying to balance innovation and risk.

Don’t rush to shout “a bull market is here,” but at least it indicates the policy direction hasn’t gone off track.

What the crypto industry needs isn’t a giant leap forward, but stable expectations.
$BTC

Circle minted 250 million USDC on Solana—this move is kind of interesting.

I’ve always heard that USDC moves faster than BTC, and now they’re basically levering up directly on Solana.

Multi-chain expansion is a trend, but such a large-scale on-chain move suggests they genuinely care about Solana.

The market may not have paid much attention to it, but more liquidity is generally good for the ecosystem.

Don’t be fooled by the numbers—what’s behind it is trust and a shift of resources.

USDC is no longer a single-chain asset; this is a signal.
$USDC $SOL $CRCL

Bitcoin’s veteran players have started eyeing $100,000. After a surge last year, they sold in bulk, and market expectations were dashed—there’s been a fair amount of selling pressure. This round of moves is quite interesting; it shows that old “weed” also has its own rhythm.

The idea of combining AI with blockchain sounds like science fiction, but the signs have been there for a while. If trading and settlement happen on-chain, it could be more efficient and more transparent than it is today.

Institutions and family offices are moving in, and the composition of Bitcoin holders is changing. From geeks to professional players—this is a signal that it’s gaining mainstream acceptance.

Over the next decade, areas like computing power, energy, AI, and finance will get even busier, and Bitcoin may just be one piece of the puzzle. Don’t just focus on the price—watch the big-picture trends.
$BTC

TermMax launches TermPrime on the Canton Network—this is worth discussing on its own.

At first glance, it just looks like “another chain上线.” But combined with its positioning, this isn’t multi-chain expansion; it’s @TermMax building the infrastructure for directly courting institutional finance.

Institutions are different from crypto-native users. The latter care about openness, liquidity, and returns. After institutions move on-chain, they care much more about who the counterparty is, whether the assets are compliant, how funds are settled, and how privacy is handled.

These factors mean institutional finance can’t simply copy the logic of ordinary DeFi.
Canton Network itself leans toward institutional finance and asset tokenization. TermPrime provides fixed-rate, fixed-tenor financing here—connecting on-chain assets with institutional-level funding needs.

What institutions often need most isn’t “the highest yield,” but predictability. For a loan over days or months, whether the cost can be determined in advance directly affects the risk–return profile. When the borrower knows the cost ahead of time and the lender knows the return ahead of time—closing around a clearly defined maturity—this is more suitable for institutional funds that manage cash flow and risk budgets than floating-rate dynamics that change day to day.

The first deal is a good example: a 7-day term, two counterparties completing KYB, borrowing Canton Coin against CBTC collateral, and repaying before maturity. The scale isn’t large, but the thinking is clear—start fixed-rate financing in a professional environment, then gradually expand.

TermMax now has two routes:

One is an open market for DeFi users (fixed-rate lending/borrowing, Vaults, options, and multi-chain assets). The other is TermPrime for institutions (fixed-tenor financing, institutional counterparties, and tokenized assets). They look different on the surface, but the underlying logic is the same—give on-chain capital a clearer time horizon, interest structure, and risk profile.

As RWA continues to develop and institutional capital enters the market, what people will want isn’t only “tokenizing assets.” After assets are on-chain, they also need financing, lending, yield, and risk management. A fixed-rate market layer is precisely the part that’s missing and indispensable.

August 25 and the $TMX TGE are getting closer. What’s worth watching next is whether TermMax can connect the already launched products across different ecosystems—turning fixed-income concepts into a real on-chain financial market with meaningful scale.#TermMax

If a movie IP stays only in movies, its lifecycle is actually limited.

But if it can enter the community, it’s completely different.

What $niulai is doing now is bringing “NiuLai” into the Meme community.
Everyone can keep playing with references, discussing, and creating around the film.

This direction is still early, but I think it’s worth paying attention to. #niulai #NiuLai

Nikita just stepped down two days ago.

Today, the team he left behind has rolled out “original content rewards,” saying they want to address bots, spammy content, and engagement-bait.

So you’ve all been waiting for him to leave before you dared to launch this whole thing? 🙈

Mad again, these past two days have been messing with $KORU

This BSC river has both run dry and risen with the tide. #Binance Life With one shovel down, the riverbed was broken open.

Now #AIDOGE is gushing out through that opening. The splash isn’t huge, but the force is strong. Whether you follow or not—see for yourself. Anyway, the river has already moved.