BULLISH ๐: Corporate crypto treasuries are on a MASSIVE buying spree, accumulating over $640 MILLION in a single week.
Strategy broke a 10-week silence, buying 4,603 $BTC for $369.7 MILLION at $80,318 per coin, bringing its total to 845,050 BTC worth $63.7 BILLION.
Bitmine made its LARGEST Ethereum purchase since June, adding 53,501 $ETH for $131 MILLION, lifting its holdings to 5.9 MILLION ETH, nearly 5% of all Ethereum in existence.
Strive jumped to the 5th LARGEST public Bitcoin treasury after buying 1,800 $BTC for $143 MILLION, prompting TD Cowen to raise its price target. #BitcoinHolds$78K #ETH #BTC
Yesterday, Krista Lynch of Grayscale joined Bloomberg to break down the technicals of Zcash $ZEC :
โณ Same 21 million supply cap and halving schedule as Bitcoin โณ Proof of Work mechanism, secured by miners โณ Zero-knowledge proofs enabling private, verifiable transactions โณ Financial privacy by choice, with shielded or transparent pools
The Zcash ETF ($ZCSH) offers exposure to ZEC, now available in brokerage and investment accounts.
Gold on track to close below its 200-day moving average ๐ The last time it lost the 200-day, $XAU went on to drop 12% over the next 3 weeks ๐คฏ ๐
Grayscale Research believes Zcash $ZEC has a real shot at capturing Bitcoin $BTC market share.
Zcash has second mover advantages Bitcoin doesn't: โณ Financial privacy in an era of AI-powered surveillance โณ Cross-chain reach through NEAR Intents โณ Active development against cybersecurity threats
$PAYP BREAKING: PayPal crashes -12.5% in after-hours trading after Stripe and Advent abandon their pursuit of the company in a potential $50+ billion deal, per Bloomberg.
PayPal surged over +40% this quarter on takeover speculation and stronger Q2 earnings.
$SNDK Stock Perpetual Volume Hits 62.4% of U.S. Spot Turnover, Highest in Available Data
According to the tokenized equities panel on WuBlockchain Data, aggregate SNDK (SanDisk) stock perpetual volume across 32 tracked venues reached $16.291 billion on Aug. 19, versus roughly $26.1 billion in SNDK US spot turnover the same day (16.28 million shares at an average price of about $1,603). That puts the ratio at 62.4%, the highest reading on record.
The ratio stayed elevated for three consecutive sessions in mid-to-late August: 42.0% on Aug. 17 ($13.40B vs $31.94B), 52.6% on Aug. 18 ($16.19B vs $30.78B), and 62.4% on Aug. 19. It eased to 38.0% by Aug. 26 ($4.98B vs $13.10B).
SNDK ranks first on this metric among all equity-linked perpetuals, followed by CRCL (47.2% on Aug. 5), SOXL (38.1% on Aug. 6), MSTR (20.0%) and MU (14.6%). NVDA and Meta both came in below 3%.
Summarize what @CZ roughly expressed in Hongkong this week:
๐ธ Hong Kong has strong financial competitiveness Web3, RWA exceeds expectations, bringing stocks on the chain can break barriers and time zones, DEX has matured
๐ธ BTC reaches 1 million is inevitable, and within the next 25 years. But more important is large-scale payment + retirement/reserve fund
๐ธ BTC will be more important than gold, the difference is about 10 times, the next bull round can catch up, suggesting that countries allocate reserves according to the top 5 crypto capitalization, BTC usually exceeds 50%
๐ธ Not using BTC is more dangerous than using, multi-chain is not zero-sum, stock tokenization will bring many people into the circle, eventually it will reach BTC
๐ธ UAE leads in regulation, Hong Kong accelerates, suggests countries build a legal framework, reserve, issue national stablecoins, make tokenization
๐ธ RWA and AI are the strongest. Do not exclude large AI companies that issue tokens. Later, agent AI will probably pioneer the use of stablecoin to trade
TODAY: ๐บ๐ธ U.S. Initial Jobless Claims fell to 203,000 last week, below the 208,000 expected.
The previous weekโs reading was revised slightly higher from 206,000 to 207,000, signaling that layoffs remain relatively low.
Combined with yesterdayโs elevated PCE inflation data, the resilient labor market could strengthen the case for the Fed to keep interest rates higher for longer.