Bitcoin’s apparent demand has clearly improved, but it is still negative; it is currently -32,000 BTC. When Bitcoin entered this new range of consolidation in early June, estimated demand was -272,000 BTC.
This is a positive change, but it is not strong enough yet. A similar pattern was also observed in February and May 2026, after which demand weakened again. This may also be related to a decline in average mined volumes, as hashrate has fallen, implying lower production. Therefore, this is not yet strong enough to provide clear positive momentum, but this trend is worth closely monitoring.
Note: The calculation of apparent demand is the number of newly mined BTC minus the supply that has been unused for more than a year. In other words, this indicator is used to assess whether structural hoarding is sufficient to absorb newly generated network supply.
13F Unveiled | Nvidia’s Q2 Holdings Revealed: SpaceX Jumps to Second-Largest Stake—What Game Is Jensen Huang Playing Next?
Nvidia’s relationship with Musk is no longer just about “selling chips” and “buying chips.” Today, $Nvidia (NVDA.US)$ disclosed its Q2 holdings report, for the first time publicly revealing its position in SpaceX: as of June 30, the company held approximately 123 million shares of SpaceX Class A stock. At the end of the quarter, the position was valued at about $21 billion, accounting for 33.06% of its disclosed stock portfolio—second only to Intel—making it Nvidia’s second-largest equity holding. According to FactSet’s statistical definition, Nvidia also entered the ranks of SpaceX’s top six shareholders. What is even more noteworthy is that this is not a typical secondary-market purchase; rather, it is a strategic layout orchestrated through a combination of xAI investment, SpaceX acquisitions, and chip procurement.
Epic-scale acquisition completed! SpaceX splashes $60 billion to acquire Cursor, aggressively betting on the code AI track
Major news! After months of speculation, a stunning deal big enough to shake the entire AI industry has finally been finalized!
According to regulatory filings, SpaceX has completed its acquisition of code AI newcomer Cursor. The deal is worth a staggering $60 billion, and it officially took effect on August 14. It has been exactly two months since the two sides publicly announced their acquisition intent.
The transaction ranks among the largest technology mergers in history, and it’s also a key move by Musk to round out his AI portfolio—an effort to catch up with OpenAI and Anthropic.
Previously, Musk’s AI entity, SpaceXAI, had a relatively weak commercialization roadmap, having gone through multiple rounds of layoffs and internal restructuring. With Cursor in hand, SpaceX will ride the momentum to enter the highly promising code generation market, ramp up R&D of advanced AI tools, and reshape the way programmers write code and debug programs.
Since Cursor first launched in 2023, it has been on a rocket-like rise, quickly becoming a hit among developer communities. Its growth rate is nothing short of a startup legend. Amid the wave of “ambient programming,” demand among developers for interactive intelligent coding tools has surged explosively—and Cursor is one of the key players at the center of this wave.
By landing this formidable ace, SpaceX has officially secured a heavyweight ace card in the generative AI arena. Going forward, the industry landscape may be set for a major shakeup. #spacex
#spxc I have never regretted not meeting you at the best time. Only after I met you did I realize that every day is the best time. One lifetime is but a fleeting moment; one city of mountains and waters; one year’s worth of springtime. One city of misty rain, one pavilion. One flower blooms only for one tree. In this world, how many people are truly in love? There are thirty million words in the world, and only the word “love” is the most painful. There are three thousand illnesses of life and death, and only longing cannot be cured. I don’t understand how to love. I don’t comprehend what love really is. Only after meeting you did I realize it wasn’t that I couldn’t—it's that before, none of the people I encountered were as right as you. Loneliness is simply the norm. When you meet others, you don’t have to say much—deep feelings are not as good as steady companionship. Deep love doesn’t require many words. I hope that every day, when you’re at your hardest, when you feel abandoned by the whole world, when you feel like sitting quietly in a corner just to watch this world, I will sit by your side. I will list many of your strengths and tell you how amazing you are. I will tell you that in this world, 100% of what’s beautiful is real—the light of your face accounts for 99.9%. Love at first sight is too superficial; love grows with time and becomes too pale. Before meeting you, seeing mountains was mountains, seeing water was water. After meeting you, waves surge and billow, and the vast mountains rise and fall. It seems like everyone in this world is exchanging looks and unspoken feelings, but I don’t know why I’m willing to cross through all the crowds and sea of people—only to look at you alone. Because life is like the ocean: at times it’s tumultuous waves, and at times it’s calm and windless. But no matter what I encounter, I just want to tell you that I will always be by your side. And I want to tell you: I like you not because you’re exceptionally good, but because the meaning you give to my life is one nobody else can replace.
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Weekly Global Market Recap: The Inflation Turning Point Takes Hold, the AI Supercycle Reboots, and Geopolitical Risks Remain in Play
This week, global capital markets are driven by a three-pronged main storyline that is converging: macro easing, an industry boom, and geopolitical games. The market structure has switched completely: marginal cooling in inflation pressures, a sharp retreat in expectations of Fed rate hikes—combined with a once-in-a-generation surge in capital for the global AI industry. As a result, the technology growth track has once again become the market’s absolute main line. Meanwhile, the situation in the Middle East remains tense, leaving global assets exposed to uncertainty and risk hedging needs. I. US inflation falls significantly, and expectations for Federal Reserve policy are restored The latest US July inflation data shows broad weakness: year-over-year CPI is 3.4%, core CPI is 2.5% year-over-year, and PPI has eased to 4.7%. Clear signals indicate that inflation is cooling.
To be honest, there’s a lot of hype around RWA these days, but based on what I’ve looked at, it’s really hard to say where #dusk @Dusk $DUSK ranks among the players in this space.
Let’s look at the data first. The total RWA market is $65 billion. Ethereum alone takes up 45%. Provenance makes up the next roughly 20% or so. As for DUSK? You won’t find its name among the top ten. Ethereum and Solana’s ecosystems are right there. Polymesh focuses specifically on compliance. Monero and Zcash have been privacy “old hands” for years. The path DUSK chose is the narrowest one—both compliance and privacy, and on top of that they have to build their own L1 from scratch. The direction may be right, but the market is only that big. How much can you actually capture?
Then there’s the on-chain data—this is where it really gets worrying. The mainnet has been running for 17 months, and average daily transaction volume is barely over 1,000. Active addresses are fewer than 80 per day. What does “80” even mean? It’s basically the size of a small group. You can talk about putting hundreds of millions of euros of assets on-chain, but where are the users? If there’s no one using the chain, no matter how great the narrative sounds, it’s all for nothing.
Token concentration is another ticking bomb. The top five addresses hold nearly 67%. If you’re building compliant finance, token concentration being even tighter than meme coins—won’t institutions be concerned when they see that? At least, if I were a client, I wouldn’t dare put my money in.
And there’s the roadmap. DuskEVM has missed timelines several times before finally being rolled out. Even after the core components went live on the mainnet, they still aren’t complete. Updates on GitHub are painfully slow. In plain terms: engineering capability doesn’t match the promises in the pitch.
I buy into the technical logic, but whether this can actually work doesn’t hinge on how fast ZK proofs get. Over the next six months to a year, I’ll be watching three things: whether daily active users can grow from 80 to 800; whether token concentration can drop to below 40%; and whether the codebase gets updated more promptly. If even one of these doesn’t move, the business flywheel will still have to be pushed back.
The direction is correct, and the start looks steady—but getting truly moving is still a long way off.
Adhere to putting economic development at the center, cultivate children’s education as the core, and uphold the principle of “grasp both with equal emphasis” so that “both must be strong.” Economic development is the foundation, children’s education is the future—let us keep this in mind together…
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