阿简在路上
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阿简在路上
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野生加密研究员｜用数据拆解市场叙事｜长期主义｜NFA｜📩 DM Open
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High-Frequency Trader
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Days on the island always pass so quickly—before we know it, another half month has gone by. Home, home…
Days on the island always pass so quickly—before we know it, another half month has gone by. Home, home…
阿简在路上
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It’s been almost 40 days since the last time I went out to Thailand, and I’ve just been stuck at home. I’m going out to clear my head, and it’s been a while since I went to Hainan for a trip too. I heard that a lot of big shots in the industry are now living there temporarily?
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Ajian Quick Tip: Today, $BTC, $ETH, $SOL , $ZEC, and $HYPE are all moving upward, but their driving forces are completely different. Ordinary traders should pay more attention to which asset is taking over the liquidity:
BTC is driven by ETFs and macro factors;
ETH is driven by ETFs, staking, and DeFi;
SOL is driven by on-chain trading;
ZEC is driven by ETFs, privacy, and high leverage;
HYPE is driven by platform revenue and buybacks
{future}(SOLUSDT)
Ajian Quick Tip: Today, $BTC, $ETH, $SOL , $ZEC, and $HYPE are all moving upward, but their driving forces are completely different. Ordinary traders should pay more attention to which asset is taking over the liquidity:
BTC is driven by ETFs and macro factors;
ETH is driven by ETFs, staking, and DeFi;
SOL is driven by on-chain trading;
ZEC is driven by ETFs, privacy, and high leverage;
HYPE is driven by platform revenue and buybacks
BTC is driven by ETFs and macro factors;
ETH is driven by ETFs, staking, and DeFi;
SOL is driven by on-chain trading;
ZEC is driven by ETFs, privacy, and high leverage;
HYPE is driven by platform revenue and buybacks
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Bearish
Oh, another independent L1 has fallen. ZetaChain is now proposing to gradually shut down its independent L1 and migrate to Solana. The plan is to convert $ZETA to a Solana SPL token on a 1:1 basis. A-Jian still really agrees with this kind of choice—being independent not for independence itself. Maintaining your own L1 is indeed very costly. If there aren’t enough users, developers, and liquidity, migrating to a more active ecosystem is the rational choice.
If you hold ZETA, go check the conversion snapshot, redemption time, wallet support, and dApp migration now—don’t wait until the last day to act.
{alpha}(10xf091867ec603a6628ed83d274e835539d82e9cc8)
Oh, another independent L1 has fallen. ZetaChain is now proposing to gradually shut down its independent L1 and migrate to Solana. The plan is to convert $ZETA to a Solana SPL token on a 1:1 basis. A-Jian still really agrees with this kind of choice—being independent not for independence itself. Maintaining your own L1 is indeed very costly. If there aren’t enough users, developers, and liquidity, migrating to a more active ecosystem is the rational choice.
If you hold ZETA, go check the conversion snapshot, redemption time, wallet support, and dApp migration now—don’t wait until the last day to act.
If you hold ZETA, go check the conversion snapshot, redemption time, wallet support, and dApp migration now—don’t wait until the last day to act.
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Bullish
Verified
Polygon is planning to deploy destruction contracts that do not require a license, and destroy 100M $POL in the first round, accounting for 1% of the supply. If we also consider Polygon’s disclosed 2026 revenue of about $24.5M, A Jian believes this round of reforms combining revenue + burn should bring a positive boost. We can watch whether subsequent revenue is sufficient to remain sustainable, and whether new issuance and incentives will offset the burn
{future}(POLUSDT)
Polygon is planning to deploy destruction contracts that do not require a license, and destroy 100M $POL in the first round, accounting for 1% of the supply. If we also consider Polygon’s disclosed 2026 revenue of about $24.5M, A Jian believes this round of reforms combining revenue + burn should bring a positive boost. We can watch whether subsequent revenue is sufficient to remain sustainable, and whether new issuance and incentives will offset the burn
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Bullish
Hyperliquid has publicly disclosed buyback and burn mechanisms multiple times before. Judging from the recent performance of $HYPE , the market is also starting to link platform revenue to token valuation. A Jian believes that HYPE is currently at a key transition point—gradually evolving from a simple platform token into a composite asset of protocol cash flow + buybacks + high liquidity.
The buyback logic is already in place. The biggest risk now is whether trading volume and revenue can continue to be maintained. I will keep monitoring whether funding becomes more expensive when the price rises
{future}(HYPEUSDT)
Hyperliquid has publicly disclosed buyback and burn mechanisms multiple times before. Judging from the recent performance of $HYPE , the market is also starting to link platform revenue to token valuation. A Jian believes that HYPE is currently at a key transition point—gradually evolving from a simple platform token into a composite asset of protocol cash flow + buybacks + high liquidity.
The buyback logic is already in place. The biggest risk now is whether trading volume and revenue can continue to be maintained. I will keep monitoring whether funding becomes more expensive when the price rises
The buyback logic is already in place. The biggest risk now is whether trading volume and revenue can continue to be maintained. I will keep monitoring whether funding becomes more expensive when the price rises
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A giant whale moved $ZEC worth $362.5M last night, and also deposited about $15M into Coinbase. This was its first deposit to an exchange in 10 months. Since the start of 2025, this address’s paper profit has reached about $361M. In other words, those more than $300M were almost pure gains 🤷🤷🤷
Bias aside, it can’t be denied that after ZEC’s big earlier rally, potential selling pressure represented by whales like this has already started to emerge. The more the narratives driving ZEC’s price up — privacy, ETFs, and mining — continue to build, the stronger the incentive for early holders to cash out becomes. As for which side is ultimately more attractive, what do you all think about this wave?
{future}(ZECUSDT)
A giant whale moved $ZEC worth $362.5M last night, and also deposited about $15M into Coinbase. This was its first deposit to an exchange in 10 months. Since the start of 2025, this address’s paper profit has reached about $361M. In other words, those more than $300M were almost pure gains 🤷🤷🤷
Bias aside, it can’t be denied that after ZEC’s big earlier rally, potential selling pressure represented by whales like this has already started to emerge. The more the narratives driving ZEC’s price up — privacy, ETFs, and mining — continue to build, the stronger the incentive for early holders to cash out becomes. As for which side is ultimately more attractive, what do you all think about this wave?
Bias aside, it can’t be denied that after ZEC’s big earlier rally, potential selling pressure represented by whales like this has already started to emerge. The more the narratives driving ZEC’s price up — privacy, ETFs, and mining — continue to build, the stronger the incentive for early holders to cash out becomes. As for which side is ultimately more attractive, what do you all think about this wave?
无脑开多，挤死空头
稳稳开空，谢谢多头送来的燃料
1 day(s) left
2.3k
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Bullish
In the past month’s market行情, A-Jian has been pushing $ETH all the time, but to be honest, I’m not a steadfast holder. So what are the real E-cyber soldiers like? According to on-chain data, the number of non-empty ETH wallets has reached about 207 million, staked ETH exceeds 40 million, and DeFi TVL is around $50B. ETH may indeed be getting old, but it’s absolutely not at the point of being unable to swing the blade— even if there’s no ETF, there are still buy orders coming from wallets, staking, and the DeFi ecosystem.
So while network usage and asset prices don’t map one-to-one, these data are enough to show that the Ethereum base layer still has an enormous number of users. Even if you exclude inactive wallets, the fundamentals are still extremely strong. Let’s see if it can hold steady around $2,600— then the short-term structure will look a lot better
{future}(ETHUSDT)
In the past month’s market行情, A-Jian has been pushing $ETH all the time, but to be honest, I’m not a steadfast holder. So what are the real E-cyber soldiers like? According to on-chain data, the number of non-empty ETH wallets has reached about 207 million, staked ETH exceeds 40 million, and DeFi TVL is around $50B. ETH may indeed be getting old, but it’s absolutely not at the point of being unable to swing the blade— even if there’s no ETF, there are still buy orders coming from wallets, staking, and the DeFi ecosystem.
So while network usage and asset prices don’t map one-to-one, these data are enough to show that the Ethereum base layer still has an enormous number of users. Even if you exclude inactive wallets, the fundamentals are still extremely strong. Let’s see if it can hold steady around $2,600— then the short-term structure will look a lot better
So while network usage and asset prices don’t map one-to-one, these data are enough to show that the Ethereum base layer still has an enormous number of users. Even if you exclude inactive wallets, the fundamentals are still extremely strong. Let’s see if it can hold steady around $2,600— then the short-term structure will look a lot better
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The current rebound across not only $BTC but the entire market has an easily overlooked reason. Aside from the apparent restoration of risk appetite and short-covering squeezes, another variable is also extremely important: the SEC has granted a five-year innovation exemption for Tokenized Stock trading. This aligns perfectly with A Jian’s earlier inference that, although the Clear Act was blocked, U.S. regulators would still continue pushing on-chain finance
As a result, the Crypto market is not simply receiving a regulatory tailwind. Instead, while progress along the legislative track is stalled, the regulatory enforcement track is still moving forward. The real significance of the SEC’s opening this time is that it has begun to allow certain on-chain securities trading to genuinely take shape. Who could deny that the future has already arrived? #比特币突破8万美元大关
{future}(BTCUSDT)
The current rebound across not only $BTC but the entire market has an easily overlooked reason. Aside from the apparent restoration of risk appetite and short-covering squeezes, another variable is also extremely important: the SEC has granted a five-year innovation exemption for Tokenized Stock trading. This aligns perfectly with A Jian’s earlier inference that, although the Clear Act was blocked, U.S. regulators would still continue pushing on-chain finance
As a result, the Crypto market is not simply receiving a regulatory tailwind. Instead, while progress along the legislative track is stalled, the regulatory enforcement track is still moving forward. The real significance of the SEC’s opening this time is that it has begun to allow certain on-chain securities trading to genuinely take shape. Who could deny that the future has already arrived? #比特币突破8万美元大关
As a result, the Crypto market is not simply receiving a regulatory tailwind. Instead, while progress along the legislative track is stalled, the regulatory enforcement track is still moving forward. The real significance of the SEC’s opening this time is that it has begun to allow certain on-chain securities trading to genuinely take shape. Who could deny that the future has already arrived? #比特币突破8万美元大关
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Verified
Brent crude oil ($BZ ) has fallen for the third consecutive day. The main reason is that the market has started to believe that Saudi Arabia can restore part of its oil supply through other channels, but it still remains above $100. The energy crisis has not ended yet, and the sword of Damocles hanging over the heads of global central banks is still there. Ajian will continue to monitor whether it truly breaks below $100 next—not because the number 100 has any magical economic meaning, but because it will genuinely shape businesses’ and consumers’ expectations
{future}(BZUSDT)
Brent crude oil ($BZ ) has fallen for the third consecutive day. The main reason is that the market has started to believe that Saudi Arabia can restore part of its oil supply through other channels, but it still remains above $100. The energy crisis has not ended yet, and the sword of Damocles hanging over the heads of global central banks is still there. Ajian will continue to monitor whether it truly breaks below $100 next—not because the number 100 has any magical economic meaning, but because it will genuinely shape businesses’ and consumers’ expectations
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Recently, Ai Jian has been focusing on how $BTC responds to the 10-year U.S. Treasury yield. I want to verify whether, if 10Y falls back to around 4.8%, BTC would clearly receive liquidity support. If it rises again to 5%, would BTC face immediate pressure? If the answers to both are yes, then in the future 10Y could become a very useful auxiliary variable for BTC macro trading. Otherwise, it would suggest that crypto’s own capital logic is strengthening
{future}(BTCUSDT)
Recently, Ai Jian has been focusing on how $BTC responds to the 10-year U.S. Treasury yield. I want to verify whether, if 10Y falls back to around 4.8%, BTC would clearly receive liquidity support. If it rises again to 5%, would BTC face immediate pressure? If the answers to both are yes, then in the future 10Y could become a very useful auxiliary variable for BTC macro trading. Otherwise, it would suggest that crypto’s own capital logic is strengthening
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Bullish
FXRP’s collateral borrowing of RLUSD has already been launched on Ethereum via Morpho. You should know that the most common narratives in the past $XRP were payments, cross-border settlement, and institutional transfers, but this time it’s directly using XRP assets as collateral, $RLUSD as the borrowed stablecoin, Morpho managing the lending market, and Flare connecting XRP assets and the EVM. This is a major addition to the XRP narrative
{future}(XRPUSDT)
FXRP’s collateral borrowing of RLUSD has already been launched on Ethereum via Morpho. You should know that the most common narratives in the past $XRP were payments, cross-border settlement, and institutional transfers, but this time it’s directly using XRP assets as collateral, $RLUSD as the borrowed stablecoin, Morpho managing the lending market, and Flare connecting XRP assets and the EVM. This is a major addition to the XRP narrative
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Across Protocol plans to gradually shut down $ACX , with the goal of completing the exit after January 8, 2027. Nothing particularly unusual here, but their buyback is pretty interesting: holders can redeem for AcrossCo equity or USDC at an agreed $0.04375/ACX. The minimum participation threshold is about 250K ACX, and it requires KYC.
Compared with a traditional buyback, this is more like setting up a conversion channel between token holders and company equity. I think this attempt by Across is meaningful for many protocols that have a disconnect between company operations and token value capture.
If you hold enough ACX, A-Jian recommends you check the official portal now—review the KYC requirements, the deadline, and the share class—to aim for a decent exit.
Across Protocol plans to gradually shut down $ACX , with the goal of completing the exit after January 8, 2027. Nothing particularly unusual here, but their buyback is pretty interesting: holders can redeem for AcrossCo equity or USDC at an agreed $0.04375/ACX. The minimum participation threshold is about 250K ACX, and it requires KYC.
Compared with a traditional buyback, this is more like setting up a conversion channel between token holders and company equity. I think this attempt by Across is meaningful for many protocols that have a disconnect between company operations and token value capture.
If you hold enough ACX, A-Jian recommends you check the official portal now—review the KYC requirements, the deadline, and the share class—to aim for a decent exit.
Compared with a traditional buyback, this is more like setting up a conversion channel between token holders and company equity. I think this attempt by Across is meaningful for many protocols that have a disconnect between company operations and token value capture.
If you hold enough ACX, A-Jian recommends you check the official portal now—review the KYC requirements, the deadline, and the share class—to aim for a decent exit.
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Bullish
Verified
Zcash’s NU7 mainnet upgrade plan to go live on November 5, with the testnet scheduled to launch on October 6; after the upgrade, the block time will be shortened to 25 seconds and new sustainability mechanisms will be added. Before, A-Jian has broken down multiple times the forces behind the rise of $ZEC : the Grayscale ETF, the privacy narrative, and this NU7 technical upgrade. Zcash is positioning itself as a candidate for turning from a privacy coin into privacy financial infrastructure. The technical upgrade speeds up transaction confirmations, the ETF provides a traditional account entry point, and when the two combine, the narrative naturally grows stronger—plus the squeeze on shorts—no wonder it can keep climbing
{future}(ZECUSDT)
Zcash’s NU7 mainnet upgrade plan to go live on November 5, with the testnet scheduled to launch on October 6; after the upgrade, the block time will be shortened to 25 seconds and new sustainability mechanisms will be added. Before, A-Jian has broken down multiple times the forces behind the rise of $ZEC : the Grayscale ETF, the privacy narrative, and this NU7 technical upgrade. Zcash is positioning itself as a candidate for turning from a privacy coin into privacy financial infrastructure. The technical upgrade speeds up transaction confirmations, the ETF provides a traditional account entry point, and when the two combine, the narrative naturally grows stronger—plus the squeeze on shorts—no wonder it can keep climbing
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Bullish
Uniswap v4 has just launched the StablePair Hook, targeting stablecoin trading pairs like USDC/USDT. It attempts to reduce LP arbitrage losses through dynamic fees and a Dutch auction. A-Jian believes this is an attempt to solve a very real problem: stablecoin trading volume is large, but LPs may not necessarily earn well, because stablecoin prices fluctuate very little, while arbitrage bots can continuously capture even tiny differences in the pool. Uniswap’s goal is to keep a larger share of value for LPs and the protocol.
Competition in DeFi is getting increasingly detail-focused. It’s no longer about who has the highest TVL; it’s about who can reduce LP impermanent loss, arbitrage losses, and gas friction. This move by Uniswap could directly improve the efficiency of the entire trading market. Compared with a standard buyback, it’s a major positive for $UNI
{future}(UNIUSDT)
Uniswap v4 has just launched the StablePair Hook, targeting stablecoin trading pairs like USDC/USDT. It attempts to reduce LP arbitrage losses through dynamic fees and a Dutch auction. A-Jian believes this is an attempt to solve a very real problem: stablecoin trading volume is large, but LPs may not necessarily earn well, because stablecoin prices fluctuate very little, while arbitrage bots can continuously capture even tiny differences in the pool. Uniswap’s goal is to keep a larger share of value for LPs and the protocol.
Competition in DeFi is getting increasingly detail-focused. It’s no longer about who has the highest TVL; it’s about who can reduce LP impermanent loss, arbitrage losses, and gas friction. This move by Uniswap could directly improve the efficiency of the entire trading market. Compared with a standard buyback, it’s a major positive for $UNI
Competition in DeFi is getting increasingly detail-focused. It’s no longer about who has the highest TVL; it’s about who can reduce LP impermanent loss, arbitrage losses, and gas friction. This move by Uniswap could directly improve the efficiency of the entire trading market. Compared with a standard buyback, it’s a major positive for $UNI
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Bullish
Benefit from the approximately $1.58M net income generated by NEAR Intents over the past 30 days, $NEAR has seen an increase of more than 45% in the past three days. Even taking into account the fact that leverage has already been entered, this round of rally can’t really be considered a simple rebound. A-jian believes that privacy trading and confidential perps are moving out of the product narrative phase and are being repriced by the market. However, judging from the current rate of price increase, the speed of valuation expansion is indeed far faster than business growth. So it’s not recommended for you, friends, to chase the highs, but stocking up on spot is totally fine
{spot}(NEARUSDT)
Benefit from the approximately $1.58M net income generated by NEAR Intents over the past 30 days, $NEAR has seen an increase of more than 45% in the past three days. Even taking into account the fact that leverage has already been entered, this round of rally can’t really be considered a simple rebound. A-jian believes that privacy trading and confidential perps are moving out of the product narrative phase and are being repriced by the market. However, judging from the current rate of price increase, the speed of valuation expansion is indeed far faster than business growth. So it’s not recommended for you, friends, to chase the highs, but stocking up on spot is totally fine
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Verified
The Bank of Japan today raised its policy rate by 25bp to 1.25% with a 7-2 vote, reaching the highest level in 31 years—exactly as Aijian had expected. Meanwhile, the yen also did not rise after the rate hike in the usual way; instead, it once fell to around 156.7. The reason is something I broke down previously as well. This time, the rate hike itself was already fully priced in by the market, and the BOJ did not provide a sufficiently hawkish forward path.
I think the only aspect worth watching from this BOJ meeting is that the rate hike was ultimately approved 7-2. Two委员 voted against the hike, which suggests that the BOJ’s internal view on how quickly to continue tightening is not unanimously aligned.
Finally, a reminder again: in FX trading, it’s never about whether there is a rate hike or not—it’s about the difference between the actual outcome and what the market expected. The expectation gap is what FX truly trades #日本央行加息至31年高位
The Bank of Japan today raised its policy rate by 25bp to 1.25% with a 7-2 vote, reaching the highest level in 31 years—exactly as Aijian had expected. Meanwhile, the yen also did not rise after the rate hike in the usual way; instead, it once fell to around 156.7. The reason is something I broke down previously as well. This time, the rate hike itself was already fully priced in by the market, and the BOJ did not provide a sufficiently hawkish forward path.
I think the only aspect worth watching from this BOJ meeting is that the rate hike was ultimately approved 7-2. Two委员 voted against the hike, which suggests that the BOJ’s internal view on how quickly to continue tightening is not unanimously aligned.
Finally, a reminder again: in FX trading, it’s never about whether there is a rate hike or not—it’s about the difference between the actual outcome and what the market expected. The expectation gap is what FX truly trades #日本央行加息至31年高位
I think the only aspect worth watching from this BOJ meeting is that the rate hike was ultimately approved 7-2. Two委员 voted against the hike, which suggests that the BOJ’s internal view on how quickly to continue tightening is not unanimously aligned.
Finally, a reminder again: in FX trading, it’s never about whether there is a rate hike or not—it’s about the difference between the actual outcome and what the market expected. The expectation gap is what FX truly trades #日本央行加息至31年高位
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Bullish
Verified
Another major macro event that many friends seem to have missed: a U.S. House committee advanced H.R. 8957 with a vote of 28:21. The bill would put the Strategic $BTC reserve into law, including at least a 20-year holding period and annual reporting requirements. This creates a strong contrast with the stalled CLARITY Act: on one side, the comprehensive market-structure bill could not move forward, and on the other, issues related to strategic reserves and taxes continue to progress. This is exactly what Ajian has always emphasized: U.S. crypto policy doesn’t move forward or backward as a whole—it follows different paths depending on the specific bill.
So the market will price this separately. Policies favorable to BTC don’t necessarily benefit every token at the same time; this bill is still more directly aimed at BTC. That also explains why when the comprehensive regulatory bill stalls, BTC may still show more policy resilience than altcoins.
{future}(BTCUSDT)
Another major macro event that many friends seem to have missed: a U.S. House committee advanced H.R. 8957 with a vote of 28:21. The bill would put the Strategic $BTC reserve into law, including at least a 20-year holding period and annual reporting requirements. This creates a strong contrast with the stalled CLARITY Act: on one side, the comprehensive market-structure bill could not move forward, and on the other, issues related to strategic reserves and taxes continue to progress. This is exactly what Ajian has always emphasized: U.S. crypto policy doesn’t move forward or backward as a whole—it follows different paths depending on the specific bill.
So the market will price this separately. Policies favorable to BTC don’t necessarily benefit every token at the same time; this bill is still more directly aimed at BTC. That also explains why when the comprehensive regulatory bill stalls, BTC may still show more policy resilience than altcoins.
So the market will price this separately. Policies favorable to BTC don’t necessarily benefit every token at the same time; this bill is still more directly aimed at BTC. That also explains why when the comprehensive regulatory bill stalls, BTC may still show more policy resilience than altcoins.
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Verified
Honestly speaking, if we look at this Fed rate hike, the central bank that should find it most troublesome is the Bank of Japan (BOJ). Now, the market generally expects that tomorrow the BOJ will raise its policy rate to 1.25%, reaching a 31-year high. The problem lies right here: after the Fed hikes, the yen weakens again. The USD/JPY pair once returned to around 155.5. As the market treated the BOJ’s rate hike just like it did the Fed’s—by pricing it in fully—if tomorrow the BOJ fails to provide a clear and continuous tightening path, A Jian believes the yen exchange rate may face immediate weakening pressure, falling below the 158 level and then probing again toward 160.
And there’s another issue: what if, ultimately, the BOJ turns hawkish as well, just like the Fed? How would global interest rate spreads change then? So the yen is no longer just Japan’s own problem now. It will go hand in hand with the dollar in a continuous global repricing of funding costs #日本加息
Honestly speaking, if we look at this Fed rate hike, the central bank that should find it most troublesome is the Bank of Japan (BOJ). Now, the market generally expects that tomorrow the BOJ will raise its policy rate to 1.25%, reaching a 31-year high. The problem lies right here: after the Fed hikes, the yen weakens again. The USD/JPY pair once returned to around 155.5. As the market treated the BOJ’s rate hike just like it did the Fed’s—by pricing it in fully—if tomorrow the BOJ fails to provide a clear and continuous tightening path, A Jian believes the yen exchange rate may face immediate weakening pressure, falling below the 158 level and then probing again toward 160.
And there’s another issue: what if, ultimately, the BOJ turns hawkish as well, just like the Fed? How would global interest rate spreads change then? So the yen is no longer just Japan’s own problem now. It will go hand in hand with the dollar in a continuous global repricing of funding costs #日本加息
And there’s another issue: what if, ultimately, the BOJ turns hawkish as well, just like the Fed? How would global interest rate spreads change then? So the yen is no longer just Japan’s own problem now. It will go hand in hand with the dollar in a continuous global repricing of funding costs #日本加息
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Bullish
Verified
Avalanche plans to execute the Helicon upgrade on September 22, shortening the validator cycle from the shortest 14 days to 48 hours. It will support automatic renewal, raise the minimum uptime to 90%, and reduce short-term validator rewards. This looks like a routine adjustment to validator capital efficiency—by reducing the opportunity cost of participating in validation while also preventing a large number of short-term mercenary validators.
As for whether this move can be beneficial to $AVAX , A-Jian thinks that when looking at a PoS chain, you should not only consider the staked APR. You should also look at the lockup period, exit time, slash risk, node costs, and the reward structure—so that participation cost and attack cost remain balanced.
{future}(AVAXUSDT)
Avalanche plans to execute the Helicon upgrade on September 22, shortening the validator cycle from the shortest 14 days to 48 hours. It will support automatic renewal, raise the minimum uptime to 90%, and reduce short-term validator rewards. This looks like a routine adjustment to validator capital efficiency—by reducing the opportunity cost of participating in validation while also preventing a large number of short-term mercenary validators.
As for whether this move can be beneficial to $AVAX , A-Jian thinks that when looking at a PoS chain, you should not only consider the staked APR. You should also look at the lockup period, exit time, slash risk, node costs, and the reward structure—so that participation cost and attack cost remain balanced.
As for whether this move can be beneficial to $AVAX , A-Jian thinks that when looking at a PoS chain, you should not only consider the staked APR. You should also look at the lockup period, exit time, slash risk, node costs, and the reward structure—so that participation cost and attack cost remain balanced.
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Trending Topics
BOJRaisesRatesTo31YearHigh
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85 Discussing
🚨BOJ's Strange Rate Hike...
#bojraisesratesto31yearhigh
Japan just raised rates to a 31-year high. The yen still weakened.
That sounds contradictory — until you look at the carry trade.
The BOJ raised its policy rate 25 bps to 1.25%, the highest since 1995, in a 7–2 vote. It was also the second hike in only three months.
Yet USD/JPY jumped as high as 158.05 after the decision.
Why?
Markets focused on the two dissenting BOJ policymakers and judged the guidance less hawkish than expected.
That matters far beyond Japan.
The yen has been one of the world's major funding currencies for the carry trade — borrow cheaply in yen, deploy into higher-yielding assets elsewhere.
So the real chain is:
BOJ tightening → yen funding gets more expensive
but:
yen weakens → carry positions don't automatically get forced out
And Bitcoin's reaction makes the picture even more interesting.
BTC rebounded sharply after the BOJ decision, reaching around $81K according to Reuters.
So today's signal isn't simply:
“BOJ hikes = BTC bearish.”
The bigger question is whether Japan's tightening eventually produces a sustained yen appreciation strong enough to force a larger carry-trade unwind.
For now, the rate moved.
The yen didn't follow.
That's the part worth watching.
$BTC $XRP
#BoJ #BTCBreaks80K #BTC #JPY
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