何居上

$MARSCOIN This hour, let’s first look at the actual data in front of us.

Binance Spot, 10/16 13:05–14:05 (Beijing time): the price rose 4.37% over the hour, with a trading value of 1.9064 million USDT, 8.78 times that of the previous hour. The closing price for the period was 0.0836 USDT.

These figures describe this spot trading pair on Binance. They cannot directly represent trading across the entire market, nor can they alone explain the reasons for the change.

Trading value was higher than in the previous hour, but the increase in trading activity alone cannot identify who was participating or prove that the price will keep moving in the same direction. What other verifiable data should we watch next? Let’s first be specific about the conditions we’re looking for.

#MARSCOIN #MarketWatch

Let’s look at something that’s easy to confuse: the spread between the best bid and best ask.

The highest bid and lowest ask in the order book are usually different. The difference between them is called the bid-ask spread. The latest traded price records only the most recent transaction; it doesn’t guarantee that another trade can be completed at the same price right now. Quotes also change as orders are added, canceled, and filled. Understanding the difference between these three prices is key to making sense of the seemingly different numbers on the page.

When checking quotes, look at the latest traded price, best bid, and best ask separately, then confirm which one the page is displaying.

#CryptoKnowledge

$BNB This hour, let’s first look at the actual data in front of us.

Binance Spot, 10/16 08:35–09:35 (Beijing time): down 0.18% over the hour, with a trading volume of 1.6253 million USDT, 0.65 times that of the previous hour. The closing price for the period was 728.15 USDT.

Trading volume during this period was lower than in the previous hour. Let’s look at the actual amount first, then compare it with the next complete data set. We can’t judge trading activity based on price movements alone. Price changes and trading volume answer different questions, so let’s consider the figures and the time period together.

For the next hour, which will you watch first: the price movement or the trading volume?

#BNB #MarketWatch

2026-10-16 Market Morning Brief

The three major U.S. stock indexes closed higher, with the Dow up more than 1%, while chip stocks continued to fall. Early this morning, NEAR and ZEC were up nearly 9% and 7.56%, respectively, over the rolling 24 hours. This report covers news from 00:00 on October 15 to 07:00 on October 16.

【Market Highlights】
1. Producer-side prices in the U.S. continued to heat up. The BLS reported that the seasonally adjusted PPI for final demand rose 1.3% month over month in September, while the unadjusted year-over-year increase was 6.3%. Excluding food, energy, and trade services, prices rose 0.5% month over month and 5.0% year over year. Watch for producer-side cost increases to pass through to consumer prices.
2. Polygon disclosed a security fix. The public release and postmortem for Bor v2.10.3 revealed fixes for two medium-severity denial-of-service vulnerabilities in parallel block execution. The affected versions were v2.10.1 and v2.10.2, in which the relevant feature was enabled by default. The fix had already been distributed privately; the new development is the public release and disclosure. The team said that, to its knowledge, neither the mainnet nor Amoy had been exploited. Nodes that have not yet been updated should upgrade as soon as possible.
3. Spot ETF flows and this morning’s crypto prices should be viewed separately. According to SoSoValue, as reported by Odaily, U.S. spot BTC and ETH ETFs recorded net outflows of about $261 million and $130 million, respectively, on October 14 local time. These are net flows for a disclosed trading day, not real-time subscriptions and redemptions this morning; today’s rebound does not mean institutional flows have necessarily turned positive.

【Hong Kong Stocks】
October 15 close: Hang Seng Index at 24,062 (-1%); Hang Seng Tech Index at 4,060 (-2.7%); main-board turnover was nearly HK$224.2 billion. Chip and AI-related stocks came under pressure. Lenovo fell nearly 15%, while Zhipu and MINIMAX fell by more than 10% to over 12%. Some pharmaceutical and Chinese bank stocks rose against the trend.

【Securities Markets】
Mainland A-share market close on October 15: Shanghai Composite at 3,707 (-1.59%); Shenzhen Component at 11,816 (-2.43%); ChiNext at 2,783 (-2.92%). Coal, oil and gas stocks fell, while liquor and securities stocks rose.
U.S. market close on October 15 local time: Dow at 52,177 (+1.08%); S&P 500 at 7,744 (+0.33%); Nasdaq at 26,713 (+0.08%). The Nasdaq and S&P 500 turned higher after falling intraday. The Philadelphia Semiconductor Index was still down about 0.9%, extending its losing streak to seven trading days. The indexes closed in positive territory, but pressure on the technology sector has not fully eased.

【Popular Tokens】
Sampled from Binance spot trading at 07:00:30 Beijing time on October 16. Prices are in USDT; figures in parentheses show the rolling 24-hour change:
$BTC 82428.01 (+0.94%); $ETH 2454.86 (+1.49%); $NEAR 5.309 (+8.97%); SOL 105.75 (+1.17%); ZEC 1230.21 (+7.56%).
All five tokens rose during this period, with NEAR and ZEC posting the largest gains.

2026-10-15 Market Morning Brief

U.S. September CPI rose to 3.7% year over year, while the Nasdaq fell nearly 2% overnight. BTC and ETH weakened this morning, and ZEC posted the steepest decline among this round’s five-token sample. The news coverage period runs from 00:00 on October 14 to 07:00 on October 15.

【Top Stories】
1. Inflation data was the main focus this round. The BLS reported that headline CPI rose 3.7% year over year in September, up from 3.4% in August, and increased 0.6% month over month on a seasonally adjusted basis. Core CPI, excluding food and energy, rose 2.6% year over year, compared with 2.4% previously, and increased 0.3% month over month. Gasoline prices climbed 9.1% during the month, accounting for more than half of the headline monthly increase. While energy pushed up headline inflation, core inflation also edged higher; the key question is whether this pressure will persist.
2. Binance announced plans to delist tokens. All spot trading pairs for EPIC and QUICK will stop trading and be delisted at 11:00 Beijing time on October 28. The related contracts will be automatically settled separately at 17:00 Beijing time on October 20.
3. Regulatory oversight of USDC is set to change. The EBA has classified USDC issued by Circle’s European entity as the first “significant e-money token” under MiCA. From November 12, supervisory responsibilities covering capital, reserves, liquidity, and recovery and redemption plans will transfer to the EBA, while France’s ACPR will continue to oversee areas such as governance. The classification has been announced, but the transfer of responsibilities has yet to begin; the focus will be on the continued implementation of reserve and redemption requirements.

【Hong Kong Stocks】
October 14 close: Hang Seng Index at 24,314, down 31 points; Hang Seng Tech Index at 4,174, up nearly 1%; main-board turnover was nearly HK$193.5 billion. Financials and property classification indices fell by more than 1%, while Meituan rose nearly 7% and Xiaomi gained more than 5%. Technology diverged from financials and property, and the Hang Seng Index’s modest decline did not reflect the differences between sectors.

【Securities Markets】
A-shares at the October 14 close: Shanghai Composite at 3,767 (-0.88%), Shenzhen Component at 12,110 (-1.97%), and ChiNext at 2,866 (-3.10%). Battery and memory chip stocks came under pressure, while oil and gas and coal stocks rose.
U.S. stocks at the local October 14 close: Dow at 51,621 (-0.09%), S&P 500 at 7,718 (-1.11%), and Nasdaq at 26,692 (-1.88%). The Philadelphia Semiconductor Index fell more than 4%, declining for a sixth consecutive trading day; Oracle fell nearly 9%. Technology stocks fell markedly more than the Dow overall.

【Popular Tokens】
Sampled from Binance spot at 07:00:28 Beijing time on October 15. Prices are in USDT; figures in parentheses show rolling 24-hour changes:
$BTC 81662.98 (-2.21%); $ETH 2418.89 (-3.63%); $ZEC 1143.27 (-6.58%); SOL 104.53 (-2.27%); XRP 1.3328 (-2.77%).
All five tokens fell this round. ZEC’s rolling 24-hour trading volume was approximately 239 million USDT.

2026-10-11 Market Morning Brief | Ledger uncovers hardware implant, ETH ETFs see continued outflows

Coverage period: 00:00 on October 10 to 07:00 on October 11, Beijing time. Today is Sunday. For Hong Kong, A-shares and U.S. stocks, the latest closing prices from the local trading day of October 9 are used.

【Top Stories】
1. New developments in the Ledger investigation. The company confirmed that an unauthorized hardware implant was found in a device belonging to an affected user. Ledger said there is currently no indication that its security infrastructure, systems or services were compromised, and reported that CryptoBilis has suspended sales of all hardware wallet inventory. The investigation is ongoing, and the cause of all losses or the total number of affected devices cannot yet be determined.

2. France's crypto tax amendments have not yet been adopted. The National Assembly's Finance Committee rejected the revenue section of the budget by 31 votes to 3, with 2 abstentions. Amendments concerning stablecoin conversions and an exit tax on crypto assets will not automatically be included in the text submitted for full parliamentary debate. On October 13, the full Assembly will begin its review based on the government's original text. The proposals will need to be resubmitted, and the final outcome remains subject to subsequent votes.

3. Crypto ETF flows diverge. According to The Block's analysis of SoSoValue data, U.S. spot ETH ETFs saw net outflows of $542.1 million from October 5 to 9, marking nine consecutive trading days of net outflows. Spot SOL ETFs recorded weekly net outflows of $24.8 million, ending a 14-week streak of net inflows. Spot BTC ETFs, meanwhile, saw net inflows of about $21.13 million on October 9. Daily and weekly fund flows should be considered separately from weekend token prices.

【Hong Kong Stocks】
On October 9, the Hang Seng Index closed at 24,211, up 425 points, or about 1.8%; the Hang Seng Tech Index closed at 4,197, up more than 3%. Main Board turnover was about HK$209.2 billion, and Xiaomi rose nearly 10%. For the week, both the Hang Seng Index and the Tech Index gained about 1%, ending their previous losing streaks. Friday's rebound did not lift all sectors, and pharmaceutical stocks underperformed.

【Equity Markets】
A-shares closed on October 9: the Shanghai Composite Index stood at 3,813, up 1 point; the Shenzhen Component Index was at 12,641, up about 0.2%; and the ChiNext Index was at 3,043, up more than 0.2%. The market recovered its losses late in the session, but all three major indexes still fell for the week.
U.S. stocks on October 9 local time: the Dow closed at 51,654, up 0.8%; the S&P 500 stood at 7,811, up nearly 0.6%; and the Nasdaq was at 27,366, up 0.6%. Amazon rose more than 3%, while T-Mobile fell more than 13%, highlighting the marked divergence across sectors.

【Popular Tokens】
Binance spot prices sampled at 07:15:32 Beijing time, in USDT; percentage changes are over a rolling 24-hour period:
$BTC 83055.41 (+0.52%)
$ETH 2506.73 (+0.75%)
$NEAR 5.298 (+6.49%)
SOL 110.31 (+1.07%)
ZEC 1222.14 (+0.92%)
All sampled tokens with active trading volume rose in this period, with NEAR posting the largest gain.

2026-10-09 Market Morning News ｜ Tech Stocks Under Pressure, Waller Talks on Hike Pace

News covers Beijing time from 00:00 on October 8 to 07:00 on October 9.

【Hot Topics】
1. Waller says further rate hikes depend on data. On October 8, Federal Reserve Governor Waller said that if economic data continues to meet expectations, he expects additional rate hikes, but that hikes do not need to be made consecutively at every meeting—the timing can be flexible. This is a personal conditional judgment, and it cannot be used to determine the decision at the next meeting. The focus remains on inflation and economic data, not on converting the remarks directly into a fixed number of hikes.

2. New progress in tokenization of U.S. stocks. Securitize announced the launch of its Stocks product, with the first batch listing 12 U.S. stocks such as Apple, Nvidia, and Tesla. Trading is initially provided on Solana via its registered broker platform. The company says the tokens are 1:1 backed by underlying stocks, representing securities interests; holders are not registered shareholders directly, and conversion remains conditional. Integration with NYSE and OKXICE, as well as 24/7 trading, is still planned. The actual tradable hours and investor eligibility are worth noting.

3. Pyth publishes details of revenue buybacks. On October 8, the official statement said that product revenue received by the DAO will be used entirely to build up the PYTH reserves; after receiving stablecoins, it will purchase PYTH through open-market transactions. Under the relevant authorizations, the first batch of buybacks was executed on September 30; what was disclosed yesterday were the rule details. Going forward, look at actual revenue and token purchase records: an increase in reserve holdings does not automatically mean tokens are being burned.

【Hong Kong Stocks】
As of the October 8 close, the Hang Seng Index was at 23,785 points, down 344 points, or more than 1.4%, reaching a new 3-month closing low; the Hang Seng TECH Index was at 4,073 points, down about 2.9%. Main board turnover was about HKD 207.3 billion. Financials and AI-related shares faced pressure. Huahong fell more than 9%, and MINIMAX dropped nearly 14%; some property and oil-related stocks rose against the trend.

【Securities Market】
A-shares at the October 8 close: the Shanghai Composite was 3,811 points, down nearly 0.8%; the Shenzhen Component was 12,620 points, down about 2.1%; the ChiNext was 3,036 points, down more than 3.1%. Semiconductors and CPO fell, while coal, oil, and banking sectors rose.
U.S. stocks at the October 8 local close: Dow Jones was 51,231 points, up 0.1%; S&P 500 was 7,765 points, down nearly 0.5%; Nasdaq was 27,193 points, down nearly 1.3%. The Philadelphia Semiconductor Index fell more than 3%, and market performance was mixed internally.

【Popular Tokens】
Binance spot sampled at 07:00:23 Beijing time. Price unit: USDT. The day’s change is based on rolling 24 hours:
$BTC 81882.01（-1.62%）
$ETH 2475.90（-3.65%）
SOL 110.32（-4.91%）
ZEC 1188.58（-10.63%）
$NEAR 4.534（-15.60%）
Among this high-activity sample set, NEAR and ZEC saw the largest declines. This is a market snapshot; it cannot be used to conclude that any specific news item is the reason for the drop.

2026-10-05 Market Morning Brief | BTC above 86,000, OPEC+ seven countries maintain November output targets

News as of 07:00 Beijing time on October 5. BTC in this round is at 86.5K USDT, up nearly 2% over the past 24 hours on a rolling basis; among the five-coin samples, NEAR and ZEC are up more than 4%. In the new week, watch energy supply arrangements, authorization risk for crypto projects, and governance controversies.

[Highlights]
1. OPEC+ seven countries held meetings on October 4 and decided to keep November production targets at the same level as September. Participants include Saudi Arabia, Russia, etc. Actual extraction and exports still need monitoring; the production targets cannot directly represent market supply. The next meeting is scheduled for November 1.

2. Security firm Salus disclosed that Revenue Family is accused of inducing users to sign a permit, obtaining an unlimited USDG authorization, and then transferring funds within the same transaction. The information comes from security monitoring, and the total loss amount has not been verified yet; if you encounter similar signatures, focus on checking the authorization subject, limit, and validity period.

3. Safe’s early investment institution Greenfield issued an open letter stating that this week it filed a complaint with the Swiss Federal Foundation oversight regulator against the Safe Foundation’s governance. Filing a complaint does not mean the regulator has accepted the case or made a determination. The open letter calls for improving board independence and accountability; what happens next will depend on the foundation’s response and the regulatory process.

[Hong Kong Stocks]
Today is Monday. According to the trading calendar, normal trading is expected; as of 07:00, the market has not opened yet. In the most recent trading day, October 2, the Hang Seng Index closed at 23,972 points, down 2.6%; the Hang Seng TECH Index closed at 4,157 points, down more than 2%. Financial heavyweight stocks faced pressure that day: AIA fell nearly 6%, while HSBC and Standard Chartered dropped more than 5%.

In real estate, according to Midland and Centaline, over the weekend the top 10 second-hand property estates saw only 5 transactions, 4 fewer than the prior week. Watch how new listings divert demand and how real estate stocks perform at the open. Transaction data itself is not a predictor of stock price direction.

[Securities Market]
U.S. stocks closed on October 2 (reported on October 3 Beijing time): Dow Jones 51,176 points, up about 0.5%; S&P 500 at 7,722 points, up more than 0.7%; Nasdaq 27,190 points, up about 1.2%. All figures above are closing prices from the most recent trading day.
Mainland China A-shares are still on the National Day holiday, and resume trading on October 8. September 30 close: Shanghai Composite 3,842 points, +0.31%; Shenzhen Component 12,887 points, -0.11%; ChiNext 3,135 points, -0.23%.

[Popular Tokens]
Binance spot sampled at 07:00:59, unit USDT, change over the rolling past 24 hours:
$BTC 86470.01, +1.99%;
$ETH 2732.34, +1.70%;
SOL 121.73, +1.70%;
ZEC 1353.45, +4.16%;
$NEAR 4.969, +4.24%.
Excluding BTC and ETH, the last three coins are selected based on candidate pool traded amounts and are not a full-network hotness ranking.

2026-10-02 Market Morning News｜NEAR Intents Restores After Attack, Hong Kong Stocks Resume Trading Today

News as of 07:00 Beijing time on October 2. BTC is slightly higher, while NEAR and ZEC have dropped more noticeably. Today, we’ll first look at the progress in handling the security incident, then at how the market differs before and after the holiday.

【Highlights】
1. NEAR Intents confirms it was attacked, with an initial loss of about $3.8 million. Illia said that the services and near.com have been restored, and that a small portion of affected networks still face limited restrictions. The vulnerability’s impact is limited to USDT on the BSC; the NEAR core protocol, tokens, and other applications were not affected. The project team has promised full compensation, but when the payouts will arrive still needs confirmation. Next, attention will be on when the restrictions are lifted and the payout is落实.

2. Florida’s regulations related to payment stablecoins took effect locally on October 1. Approved issuers must maintain reserves of at least 1:1, disclose the composition of reserves on a monthly basis, and accept audits by accountants and certifications by management. Reserve disclosures and actual fulfillment are points to watch going forward.

3. On October 1, Leng Bofan issued a directive to reasonably accelerate fiscal spending, study and formulate targeted incremental policies, optimize preferential interest-rate policies, and support expanding domestic demand. Next, the focus will be on the details of the incremental policies and their implementation timeline.

【Hong Kong Stocks】
National Day holiday trading was closed on October 1. Trading resumes today per the calendar, but it had not opened by 7:00. In the most recent trading day, September 30: the Hang Seng Index closed at 24,613 points, up 0.37%; the Hang Seng Tech Index closed at 4,253 points, up 4 points. For September month-to-date, the Hang Seng Index fell 3.7% and the Tech Index fell 7.9%. The rebound on the day before the holiday has not yet erased the month-long decline.

【Securities Market】
US stock close on October 1: Dow 50,926 points, up 0.04%; S&P 500 at 7,666 points, up about 0.2%; Nasdaq at 26,871 points, up 0.04%. The Dow ended a three-day losing streak, but gains for the three major indexes remained limited.
A-shares are closed from October 1 to 7, with trading resuming on October 8. In the most recent trading day, September 30: the Shanghai Composite was 3,842 points, up 0.31%; the Shenzhen Component was 12,887 points, down 0.11%; the ChiNext Index was 3,135 points, down 0.23%. These are the pre-holiday closes, not today’s moves.

【Popular Tokens】
Binance spot sampled at 07:03:42, price unit USDT, and 24-hour rolling changes:
$BTC 84736.01, +1.15%;
$ETH 2703.82, +0.40%;
SOL 118.34, -0.19%;
ZEC 1336.19, -7.30%;
$NEAR 4.782, -11.51%.
Excluding BTC and ETH, the last three coins are selected by system candidate pool trading volume, not a full-network popularity ranking. When BTC and ETH rise, NEAR and ZEC still show clear declines, with very large divergence among coins.

2026-09-24 Market Morning News | BTC at 84.5k, ZEC down nearly 8%

This morning, BTC was at 84,524 USDT, ETH below 2,700, and ZEC’s rolling 24-hour percentage change was nearly -8%, while XRP fell nearly 5%. Hong Kong stocks, A-shares, and U.S. stocks all closed lower on September 23. Worth watching today together are the strengthening U.S. dollar, central bank liquidity arrangements, and Hong Kong’s new digital-asset regulatory plan.

【Hot Topics】
① The U.S. Dollar Index briefly touched 101.23 intraday, reaching a near two-month high. New York’s December gold futures settled at $4,318.4 per ounce, down 1.3%. Reports this morning showed rising expectations in the market for further rate hikes by the Federal Reserve, while oil prices and inflation pressures remain in focus. Next, the key is to watch interest rates and the U.S. dollar trend.

② The People’s Bank of China announced that from September 28 to October 8, it will conduct overnight reverse repos. The daily operating amount will not exceed 1 trillion yuan, to match banks’ short-term liquidity needs. 1 trillion yuan is the daily ceiling; the actual amount will depend on the operation announcements. In addition, it plans to conduct today an 800 billion yuan one-year Medium-Term Lending Facility (MLF) operation. For A-shares and Hong Kong stocks, going forward, investors can observe cross-month liquidity and changes in trading volume.

③ The Hong Kong Securities and Futures Commission has released its strategy action framework, listing the introduction of a new digital-asset licensing regime as a near-term arrangement. The regulatory framework for tokenized gold and RWA is planned to be developed in the medium to long term, depending on circumstances. These arrangements still need subsequent implementation—watch for their scope of application, licensing requirements, and the timeline for when they take effect.

【Hong Kong Stocks】
On September 23 close, the Hang Seng Index (HSI) was 24,834 points, down 1.01%, ending a three-day winning streak and falling back below 25,000. The Hang Seng Tech Index was 4,379 points, down 1.3%, with main-board turnover of about HKD 184.3 billion. Tencent fell more than 2%, while Li Auto rose nearly 3% against the trend. Even as the index retreated, individual stocks still showed differentiation.

【Securities Market】
A-shares on September 23 close: Shanghai Composite at 3,936 points, down 0.39%; Shenzhen Component at 13,636 points, down 0.64%; ChiNext at 3,379 points, down 0.6%.
U.S. stocks on September 23 close (early hours of September 24 Beijing time): Dow at 51,511 points, down 0.68%; S&P 500 at 7,706 points, down 0.75%; Nasdaq at 26,936 points, down 1.13%. Alphabet fell 3.8%. Tech stocks were under pressure, and the Nasdaq’s decline was larger than the other two indexes.

【Popular Tokens】
Binance spot, sampled at 07:07:51 Beijing time on September 24; price unit USDT; daily change is based on rolling 24 hours:
$BTC 84524.01｜-2.19%
$ETH 2688.00｜-2.77%
$ZEC 1499.85｜-7.93%
XRP 1.5017｜-4.97%
NEAR 4.330｜-2.15%
All five coin samples with active trading in this round were down, with ZEC having the largest decline.

Message window: from 00:00 on September 23 to 07:00 on September 24; quotes are recorded based on the actual sampling times above.

2026-09-23 Market Morning News｜ZEC up 5.49%, Binance invests in Circle

This morning, BTC and ETH edged down slightly, while ZEC led among the five coin samples in this round. On the news front, Binance and Circle have expanded their cooperation, and Zcash added products on European exchanges. In traditional markets, the Nasdaq hit a new high, while the Dow fell—gains were uneven.

【Focus】
① On September 22, Circle announced that Binance invested USD 100 million in it. Both sides renewed a five-year cooperation agreement, focusing on expanding USDC usage in emerging markets. The equity deal was completed on September 17 and made public on September 22. Next, monitor USDC’s actual usage on the platforms, and how the partnership affects Circle’s revenue and promotional costs.

② 21Shares launched physically backed support for ETPs for Zcash and ether.fi, which are now traded on Euronext Paris and the Amsterdam market. The annual fee is 2.5%. With ZEC adding another broker account and participation channel, watch the future product scale and capital inflows.

③ According to SoSoValue data, on September 21 in the U.S., spot Bitcoin ETFs saw net inflows of USD 999 million, while spot Ethereum ETFs saw net inflows of USD 270 million. The above data was disclosed on the 22nd; next, watch whether inflows can be sustained.

④ U.S. White House crypto adviser Patrick Witt and Treasury Department official Luke Pettit took a cautious stance on progress on the CLARITY bill before year-end, saying that post-election momentum depends on election outcomes. Key policy watchpoints still include the specific rules and implementation arrangements by regulators; the bill’s timeline remains unclear.

【Hong Kong Stocks】
As of the close on September 22, the Hang Seng Index was 25,087 points, up 0.18%; Hang Seng Tech was 4,438 points, up 0.34%, with main-board turnover exceeding HKD 249.2 billion. Tencent rose 5%, while Alibaba rose nearly 2%; individual stock gains were clearly higher than the index.

【Securities Markets】
On September 22, China A-shares were basically flat: Shanghai Composite 3,952 points, up 2 points; Shenzhen Component 13,723 points, down 6 points; ChiNext 3,399 points, up less than 1 point.
U.S. stocks as of the close on September 22 (early morning Beijing time on the 23rd): Nasdaq 27,244 points, up 0.45%, setting another closing high; Dow 51,863 points, down 0.36%; S&P 500 at 7,764 points, near the prior close. Storage chip stocks strengthened, banks were relatively weak, and performance varied by sector.

【Popular Tokens】
Binance spot, sampled at 07:00:58 Beijing time on September 23; price unit USDT; gains/losses are based on rolling 24 hours:
$BTC 86144.01｜-0.35%
$ETH 2754.87｜-0.86%
$ZEC 1554.32｜+5.49%
XRP 1.5722｜+1.01%
SOL 118.48｜-0.86%

News window: 00:00 on September 22 to 07:00 on September 23; token prices are recorded based on the actual sampling times above.

2026-09-21 Market Morning News｜NEAR Up Nearly 13%, New Developments in Security Incident

On Monday morning, BTC is still hovering around 81,000 USDT, while ETH shows little change; among the tracking list for this round, NEAR is clearly more active. The news snapshot is at 07:00 Beijing time, with market data captured at 07:01.

Highlights
1. NEAR has risen 12.76% over the past 24 hours, while over the same period Binance NEAR/USDT spot volume is about 333 million USDT; BTC is down 0.08% and ETH is up 0.19%. This reflects divergence within the same snapshot window. At the moment, we have not verified a single confirmed news item sufficient to explain NEAR’s surge, so we won’t force a price-change explanation.
2. New developments have emerged in the Fetch-related security incident. Odaily reported on September 20, citing PeckShield monitoring, that the same attacker minted 260 million AGIX and 53.838 million WMTX tokens on Ethereum without authorization. Compared with the previously disclosed FET converter incident, the added information involves other tokens. Next, the focus will be on how the project team handles and reviews the incident; the scope of the event still needs ongoing verification.
3. On the macro front, Kashkari said in a Sunday interview that U.S. inflation pressure is not only coming from oil prices; even excluding food and energy, inflation remains relatively high. This is the official’s view on prices. When observing the market on Monday, still watch for changes in rate expectations, and don’t treat this speech as a new rate decision.

Hong Kong Stocks
As of 7:00 this morning, trading has not opened yet. First, look at September 18 (the most recent trading day): Hang Seng Index closed at 24,750 points, up 0.6%; Hang Seng Tech Index closed at 4,405 points, up 2.2%; turnover was about HKD 266.5 billion. The tech index was strong last Friday; today’s post-opening performance will still need to wait for actual trading data.

Securities Markets
In China’s A-share market, the most recent trading day was also September 18: Shanghai Composite closed at 3,911 points, up 0.94%; Shenzhen Component closed at 13,640 points, up 1.72%; ChiNext closed at 3,372 points, up 2.25%.
The most recent close for U.S. stocks was September 18 in the U.S. and early September 19 Beijing time: Dow closed at 51,682 points, about down 0.2%; S&P 7,650 points, about up 0.2%; Nasdaq 26,522 points, up nearly 0.4%. All of the above are Friday’s closing figures; there is no Monday close data yet.

Popular Tokens
Binance spot, as of 07:01 Beijing time on September 21. 24-hour rolling gains/losses:
$BTC ：81,188.01 USDT，-0.08%。
$ETH ：2,636.35 USDT，+0.19%。
$NEAR ：4.0660 USDT，+12.76%。
ZEC：1,517.28 USDT，+2.57%。
SOL：110.84 USDT，+0.12%。
Besides BTC and ETH, we list NEAR, ZEC, and SOL—tokens with higher USDT spot volume among this tracking set—for observing activity; this is not a full-market popularity leaderboard.

2026-09-20 Market Morning News｜ZEC Pulls Back; Stablecoin Regulation Sees New Progress

Among the few active coins I’ve been tracking this morning, BTC and ETH saw little movement over the past 24 hours, while ZEC fell by about 5.94%. On the news front, attention is on stablecoin licensing progress and a newly disclosed converter security incident. As of 7:00 a.m. Beijing time, prices are taken from the actual 7:02 snapshot.

Highlights
1. Bastion received a conditional approval from the OCC, enabling it to proceed with a transition into a nationwide trust bank. It plans to place stablecoin issuance, custody, and exchange services within the same regulated entity. The key word here is “conditional.” Further requirements still need to be fulfilled later. I’m more focused on when the services will truly be implemented rather than directly mapping licensing progress to coin prices.
2. This morning, Onchain Lens disclosed that an attack cluster moved about $1.54 million FET from Fetch’s token converter on Ethereum and also received about $452,000 newly minted NTX. At this stage, this is disclosure from on-chain monitors. The scope points to the converter; the project team still needs to clarify the reasons and the final impact. Users concerned should watch for subsequent remediation announcements.
3. Don’t miss the macro backdrop either: the Bank of Japan hiked by 25 bps to 1.25%, after which the yen exchange rate swung sharply; in New York late trading, USD/JPY was around 156.8, and the U.S. 10-year Treasury yield returned to near 5%. Using data from the most recent trading session as context, when observing coin prices over the weekend, it’s also worth continuing to watch interest rates and FX changes.

Hong Kong Stocks
No trading today (Sunday). The most recent trading day was September 18. The Hang Seng Index closed at 24,750 points, up 0.6%; Hang Seng Tech closed at 4,405 points, up 2.2%. Turnover in Hong Kong stocks was about HK$266.5 billion. Hang Seng Tech’s gain was higher than that of the Hang Seng Index.

Securities Market
A-shares as of September 18 close: SSE Composite at 3,911 points, up 0.94%; Shenzhen Component at 13,640 points, up 1.72%; ChiNext at 3,372 points, up 2.25%.
U.S. stocks as of September 18 close: Dow Jones at 51,682 points, about -0.2%; S&P 500 at 7,650 points, about +0.2%; Nasdaq at 26,522 points, up nearly 0.4%. Crypto-related stocks were stronger: Coinbase rose nearly 12%, and Strategy rose more than 16%, but the three major indices still diverged.

Popular Tokens
Binance spot, as of 07:02 Beijing time on September 20; subsequent gains/losses are for the rolling past 24 hours:
$BTC : 81,256.00 USDT, +0.07%.
$ETH : 2,631.44 USDT, +0.39%.
$ZEC : 1,478.72 USDT, -5.94%.
XRP: 1.4155 USDT, +1.09%.
SOL: 110.72 USDT, -2.34%.
Other than BTC and ETH, here I select ZEC, XRP, and SOL with higher USDT traded amounts from the tracking list. This sample does not represent the broader market’s overall popularity ranking.

The switchboard is being shut down. For the oracle track, what’s worth watching next is who can take on the migration demand.

In its announcement on September 19, it explicitly stated: each chain’s implementation will be deprecated starting immediately; remaining support will end on September 25; and it recommends that users migrate to services such as Pyth and RedStone.

$PYTH is therefore worth continuing to track, but two things can’t be mixed together: being listed as an alternative doesn’t mean it has already won customers; an increase in service usage doesn’t necessarily mean the token price will definitely rise.

I’m more interested in which protocols will publish migration and integrations afterward, whether the adoption actually takes hold, and whether business revenue changes. Look at real usage first, then judge the weight of this news.