叮当 Doraemon

When cross-chain is compressed into a single click, the standard traders use to choose a public chain changes accordingly. “The best market conditions” usually means the strongest wealth effect, the most concentrated liquidity, and the most intense social discussion. The Fomo and Pump.fun app put these three signals into the same information flow, allowing capital to quickly pour into the hottest chain and leave just as quickly once the heat shifts.
The early activity on Robinhood Chain has already revealed this capital structure. On-chain activity statistics from Blockworks Research show that Robinhood Wallet contributed only 2% of activity, while 86% came from cross-chain terminals and multi-chain wallets. The main force supporting the market is still crypto-native capital, which migrates to new venues through existing entry points such as Fomo. New funds brought in by the main Robinhood app have not yet become the core.

September 4, today’s widely soaring meme coin project MEME, a star-coin token that reportedly surged by a thousand times, is paired with a tokenized U.S. stock: AMC Entertainment (U.S. cinema company, stock code AMC), using the latter as the pool pairing. Earlier this morning, AMC’s CEO posted a criticism of Robinhood, saying Robinhood is promoting tokenized stocks, including AMC, that purportedly cover more than 190 companies, but these products have not been registered in accordance with U.S. securities laws. This is an unauthorized linkage to the AMC name and its underlying real shares. AMC has nothing to do with it and does not recognize it. The CEO also strongly condemned Robinhood’s actions as “disgusting, absurd, nauseating, despicable, unforgivable, and beneath contempt,” and said external securities attorneys have already been engaged to investigate.

$NVIDIA (NVDA.US)$ surged more than 8% in a single day after its earnings release, but it has not been able to sustain the strong rally in recent trading; signs of range-bound consolidation have appeared near recent highs.
Recently, JPMorgan cited statements by NVIDIA management at a recent institutional investors meeting: the framework projecting a 70% year-over-year growth in fiscal 2028 is a conservative estimate under the current capacity-constrained scenario, not the true upper limit of demand. If advanced wafer and HBM supply are sufficient, actual growth could have the potential to break 100%. The core significance of this statement is that it converts the long-term pricing uncertainty on the demand side into a solvable supply-side constraint. At the same time, CEO Jensen Huang announced at the G20 summit that “NVIDIA will invest nearly $1 trillion in U.S. infrastructure this year,” and in a conversation with the U.S. Secretary of Commerce, characterized AI determinism as “national infrastructure on par with hydropower.” The rigidity and sustainability of AI computing power demand have been repriced. On September 2, NVIDIA responded with a 3.21% rise.

On September 3, Bitcoin is currently nearing the formation of a “golden cross” technical pattern in which the 50-day moving average crosses above the 200-day moving average. This indicator is typically viewed by the market as a signal of a long-term uptrend.
Although historical performance doesn’t always accurately predict market movements, this golden cross may also receive further support from a decline in the USDT share, which could signal a shift toward higher risk appetite.
In Bitcoin’s history, there have been 12 golden crosses in total, and some stages have brought significant upward market rallies.
Statistics show that among 9 measurable golden crosses, the 3-month average gain is about 24.9%. While there are fewer cases where the trend was sustained for a full year without being broken by a death cross, the average gain over a one-year period for the previous 3 cases reached 250%.

September 2, on-chain on Robinhood, a token called JINQIAN saw its market cap surge past $70 million in just one hour.
JINQIAN in Chinese pinyin means “money.” The Nasdaq company it latched onto is Farmmi, which is a mushroom species; and in Farmmi’s annual report, there is indeed a mushroom variety recorded called “Jinqian mushroom.” The community refers to it as the “money mushroom.”
Meanwhile, the Nasdaq’s common stock of Farmmi, ticker FAMI, surged more than 300% during the day, briefly touching around $0.4. Trading volume exploded to hundreds of millions of shares. A tiny company that had been hovering near $0.12 just days earlier, with a market cap of a few million dollars, suddenly became the brightest thing on the board.

AI Flash News: Behind Anthropic’s Google computing power order, a financing and contracting system worth about $200 billion has already been put in place. (The Financial Times) says that roughly 80% of it is related to TPU chips. Anthropic does not need to fork out all the money upfront; the chip costs are mainly funded by Wall Street, while Google and Broadcom respectively back the data centers and the chips.
The first batch—about $35 billion, 1GW of TPU—was initially sold by Google to Broadcom, then transferred to an SPV (a financing company set up specifically for the deal). Institutions such as Apollo and Blackstone provide debt financing to the SPV, which buys about 1 million TPU chips, and then leases them to Anthropic.

On August 31, according to HTX market data, Bitcoin’s current spot price is $78,492, and Strategy’s current BTC holdings are in profit of more than $260.2 million.
Earlier reports said that Strategy currently holds 845,050 BTC, with a total acquisition cost of $63.73 billion and an average price of $75,412 per coin.
Following the pace of Strategy’s last week’s purchase of 4,603 BTC, which continues a relatively restrained frequency since the large-scale buy on May 18, 2026. Combined with the total holdings of 843,738 BTC disclosed last month, the average price in this round of $80,318 is below its cumulative average cost line of $75,700, indicating that the company executed a spreading-out (averaging down) operation during the price pullback window.

On August 30, analyst Rekt Fencer released a BTC-to-Nasdaq 3-day ratio chart, marking three significant drawdowns: approximately -84.9% in 2018, about -80.7% in 2022, and the current roughly -54.3% in 2026.
Rekt Fencer said that after the first two times Bitcoin suffered such a large underperformance relative to the Nasdaq, they were followed by very strong independent uptrends, with prices subsequently surging nearly straight up. With the ratio now falling sharply again, history may repeat for a third time; the bottom is already near, and next BTC will strengthen again.
The drawdown in the BTC-to-Nasdaq ratio indeed forms a rare long-term pattern: the deep underperformance of -84.9% in 2018 and -80.7% in 2022 both occurred at the end of a period of tightening macro liquidity, after which Bitcoin completed a repair through a decoupling-style independent move. While the current underperformance of -54.3% has not matched the extremes of the previous two instances, combined with Wintermute’s earlier observation that BTC is more bearish-biased than equities and shows asymmetric behavior—smaller gains on up days—the market structure has already become highly similar to the 2022 bear market.

On August 29, according to GMGN market data, today’s BSC ecosystem’s meme coins saw a clear surge, including:
“4” up more than 52% in a single day; market cap now at $17.78 million;
「I’m here, damn it」 up 21.35% in a single day; market cap now at $13.64 million;
“Lobster” up 18.11% in a single day; market cap now at $71.27 million, setting a new all-time high again.
“4” up 52% in a single day, leading the pack—but what’s truly worth noting is that “Lobster”’s market cap has already reached $71.27 million. During the rally back in April, its market cap was only $12.89 million; two months ago it dropped back to $24 million, and now it has tripled. This isn’t a broad-based rally—it’s the second re-assembly after a round of structural reshuffling in the BSC Chinese Meme sector.

On August 28, according to Lookonchain monitoring, the Bitcoin treasury company Metaplanet transferred another 1,350 BTC to Coinbase Prime about one hour ago, worth about $108 million.
Previously, the company bought 43,000 BTC at an average price of $96,191, worth approximately $3.48 billion.
Metaplanet announced on August 18 that it would inject 2,100 BTC into the Nasdaq-listed company Super League to build a U.S. stock treasury platform. Just ten days later, it again transferred 1,350 BTC to Coinbase Prime. This was the second large transfer within the past week (it transferred 1,000 BTC on August 25), and the pace is clearly accelerating in crypto.