SabTheTrader

Check out this SPCXx IPO Campaign on Binance Wallet, but make sure to understand the rules before diving in. 🚀

Basically, eligible users can submit their subscription intentions through Binance Wallet for a chance to snag SpaceX-related tokenized securities, SPCXx.

But let’s be clear:

SPCXx isn’t directly buying SpaceX stock, nor does it grant any shareholder rights in SpaceX.

It’s more like getting price exposure to SpaceX’s potential IPO through xStocks.

The minimum subscription amount is 100 USDC; the indicative price for each SPCXx is 135 USDC, excluding fees, plus a 5% underwriting service fee.

So, if we go by the indicative price, the estimated total cost per token would be around 141.75 USDC.

Of course, keep in mind:

1⃣ Submitting a subscription ≠ guaranteed allocation

2⃣ SPCXx ≠ direct ownership of SpaceX stock

3⃣ The final issue price isn’t fixed

4⃣ Some regional users may be unable to participate

5⃣ Always read the rules and assess the risks before joining in

What I find noteworthy here is:

Pre-IPO, tokenized securities, and US stock assets on-chain are no longer distant concepts.

More and more exchanges and wallets are slowly bringing traditional market asset exposure to users on-chain.

Binance Wallet’s SPCXx IPO Campaign feels like a new milestone in this trend.

What was once a distant Pre-IPO exposure for the average user is now becoming visible to more people at a lower barrier and more on-chain.

So, I’ll treat it as a case study.

It’s not about blindly chasing SpaceX; it doesn’t mean these types of products are fully matured either.

But the increasing appearance of traditional asset exposure in on-chain wallets is definitely a trend worth watching.

If you’re interested, go check out the rules.

Just make sure to read them carefully before participating. 🤣

* NFA, DYOR.

#币安钱包推出spcxxipo

I found that this whole RWA thing also often gets oversimplified by us.😂

Back when people talked about asset tokenization, everyone’s first reaction was probably:
Take a set of real estate, a stock, or a bond, split it into lots of pieces, and put them on the blockchain to trade.

But if you think about it carefully, if tokenization merely cuts an asset into 10,000 tokens, it doesn’t really solve the most troublesome problems in financial markets.

For example:
Who can buy?
How do we verify an investor’s identity?
Where are the ownership records kept after purchase?
Can the asset be freely transferred to someone else?
How do dividends and voting work?
How are settlement and reconciliation of funds and assets completed after a trade?
And when regulators or auditors need to review, how should disclosures be handled?

So only after seeing all this do I slowly start to think:
RWA may not be as simple as “cutting assets into pieces.”

More importantly, it might be about whether we can move the entire lifecycle—
issuance → investor onboarding → holding → transfer → trading → settlement—
that used to be spread across different institutions and different databases, onto the blockchain gradually.

That’s also why I can better understand why $DUSK keeps talking about Privacy, Selective Disclosure, and Regulated Finance.

Because if financial institutions really move the whole asset lifecycle onto the chain, but also conveniently expose their balances, positions, cash flows, and trading counterparties to everyone in the world…
that probably isn’t very realistic.😂

And what Dusk Trade, by @Dusk , is doing now isn’t just about “issuing an RWA token”—it also focuses on handling investor onboarding, wallet binding, controlled transfer, payments, and compliant settlement all together.

Only when all these things start running smoothly does RWA truly move forward.

Without that, even the biggest tokenization numbers may only amount to “registering” traditional assets on-chain.

So in the end, what matters may not be who tokenizes the most assets, but who can truly get this market running.👀
#dusk $DUSK @Dusk

When studying @Dusk , I’ve actually had a very real question:
Why are there so many projects in Crypto working on “privacy”? 🤔
After all, if it were simply about privacy-preserving transfers, there are already well-established projects in the market like ZEC and XMR.

So why do we still need Dusk today?

What Dusk wants to solve isn’t exactly the same problem. It places more emphasis on:
Privacy + Selective Disclosure + Regulated Finance.

In simple terms, it’s not aiming for: “No one can see anything.”
It’s more like: “Not everyone should see it, but the people who need to can.”
That difference is actually pretty important.

Because if traditional finance were moved to the blockchain at massive scale, full transparency could be a problem.

Say an institution puts its assets, transactions, and settlement entirely on a public chain—then competitors can open a block explorer and see its balances, positions, flows of funds, and even counterparties…

That level of transparency might be something ordinary crypto users have grown accustomed to, but it may not be acceptable to real financial institutions.

And what Dusk is targeting right now is this middle ground:
While protecting sensitive information like balances, transactions, and holdings, it also allows—when necessary—selective disclosure to regulators, auditors, or specific counterparties.

Seen this way, I can understand why there are now more and more projects focused on “privacy + compliance.”

But here’s the question I’m truly curious about:
Do institutions really need confidentiality—but can that need ultimately translate into real, large-scale on-chain usage?

Technically, it might be possible. But whether anyone truly *has to* use it is another matter.

So next, when I keep watching $DUSK , besides the price, I’ll be more interested in whether Dusk’s RWA, institutional issuance, trading, and settlement can gradually generate real usage.

If they can, then this path is actually not the same story as traditional privacy coins.

If they can’t, then “privacy + RWA + compliance” might ultimately just be a very polished narrative.

That might be the most worth continuing to observe. 👀

#dusk $DUSK @Dusk

Originally, $DUSK was running just fine, and today it also plunged along with the overall market. Right now it seems to be in a consolidation phase; liquidity over the weekend is likely to be a bit weaker too 🤔

While the price stays active, @Dusk has also indeed made some fundamental progress recently: the DuskEVM Testnet is already live, and developers can directly deploy and test using familiar Ethereum tools like Solidity and Hardhat.

And what Dusk truly wants to do isn’t just a regular public blockchain—it’s to combine privacy, compliance, and on-chain settlement, targeting the regulated onchain finance and RWA market. ((That said, aren’t there more and more projects talking about privacy + compliance lately?

So next, I’m going to observe $DUSK while looking at two things at the same time:
① After this round of上涨, whether the price can hold key structural levels;
② Whether DuskEVM, RWA, and cooperation with institutional players can gradually turn into real on-chain demand.

Having both a price trend and a compelling narrative is of course ideal, but ultimately we still have to see whether the market is willing to keep pricing that narrative.

#dusk @Dusk

Wow哈哈哈，$TMX airdrop is finally out. This time I got 200.63 TMX 😼

The claim rules for the @TermMax airdrop aren’t as complicated as you might think.

This time I fall under Case 1: below the Vesting Threshold, so 200.63 TMX doesn’t require mandatory vesting. You can directly choose one of three options:

1️⃣ Claim Now
Take 200.63 TMX and no locking.

2️⃣ Stake for 3 months
200.63 + 80% Bonus
Final amount: about 361.14 TMX

3️⃣ Stake for 6 months
200.63 + 180% Bonus
Final amount: about 561.77 TMX

The easiest thing to misread here:
+80% / +180% is not APR, and it’s not APY—it’s an additional TMX Bonus.

In other words, 6 months isn’t “180% annualized.” It means that after staking the 200.63 TMX, based on the amounts currently shown on the page, you can ultimately get about 561.77 TMX.

So how do I choose?
Personally, I’d go with 6 months +180%. 😂

The reason is simple:
This is an airdrop—I'm not putting in any extra principal. Since I’m not planning to sell on the day of TGE, I’d rather use 6 months of liquidity to get more $TMX.

Also, from 3 months → 6 months, you only add 3 more months of lockup:
361.14 → 561.77 TMX
That’s an extra full 200.63 TMX.

Of course, having more coins ≠ necessarily higher final value. The price performance of $TMX still matters most. So this isn’t a sure thing—I just feel that among these three options, the odds for the 6-month plan are more worth it for me.

Don’t miss these other key points:
⚠️ Claim deadline: Aug 23, 23:59 UTC
⚠️ Once you Confirm, you can’t modify it
⚠️ If you select nothing, you’ll default to the 6-month plan
⚠️ Claim will open on Aug 25 at TGE

So this time I’ll choose:
200.63 TMX → 6-Month Stake → 561.77 TMX

Have you all received the airdrop?
If it were you, would you choose: Claim / 3 months / 6 months? 👀

#TermMax $TMX

I’ve been writing for 4 days: @TermMax , and on the last day I don’t want to talk about TVL anymore.😂

Instead, I want to answer the most practical question:
If you really gave me 1000U right now, how would I use TermMax?

After researching for a few days, I think it can be pretty simply divided into three types of people:

① People who want to calculate their returns precisely → Fixed Rate

You choose the market, interest rate, and maturity time yourself.
Once the order is filled, the borrowing rate is locked in.
It may not always give you the highest possible returns, but the upside is that it’s very simple:
When it matures and how the interest is calculated at what rate—I know when I place the order.
For someone like me who really hates having my capital plan suddenly disrupted, this actually matters a lot.😂

② People who think it’s too much hassle to pick markets one by one → Vaults

For example, the USDC Vault mentioned a couple of days ago.
You deposit the USDC, and the Vault’s Curator helps allocate your funds across different markets.
A simple way to think of it:
Fixed Rate is you picking; Vault is getting it allocated for you.
Of course, the APY you see on the Vault page is floating and doesn’t mean that exact rate is locked in forever after you deposit.

③ People willing to take on more risk and want to trade with direction → Alpha

This is already more than just lending/borrowing.

TermMax Alpha is more like option-style trading: you can buy a Call / Put, paying a Premium upfront— and this Premium is also the maximum cost for that position you can know in advance.
So it’s another way to play alongside the leverage we usually do.

After writing about it these past few days, my own understanding of TermMax has actually become simpler:
It’s not just a place that offers “high APY”; it lets people with different risk preferences decide how to place this money.

If you want to be sure → Fixed Rate
If you want to be more hands-off → Vault
If you want to actively trade → Alpha

As for whether, after the $TMX TGE on August 25, it can truly keep these users—that, in my view, is more worth watching than how much it pumps on day one.👀

If you really gave you 1000U right now:
Fixed Rate / Vault / Alpha—which one would you choose?

#TermMax $TMX

Oh my god, TermMax’s posting competition is way too fierce hahaha—there isn’t much traffic. But today I still have to finish talking about what I didn’t cover. It’s also to help myself and everyone understand things better: @TermMax . ៸៸¯ᗜ¯៸៸

Yesterday I talked about Fixed Rate. Today let’s take a look at @TermMax another product:
“ Vaults｜Earning Vaults ”

The具体 process is: you deposit USDC into it, and the Vault will help allocate your funds into different Fixed Rate markets—so you don’t have to pick markets one by one yourself. It’s a lot more convenient.

For example, if I put in 1000 USDC, the APY on the page is currently 4.83%. Assuming the yield rate stays the same:
👉 About 1003.94 USDC in 1 month
👉 About 1048.30 USDC in 1 year
There are also 72x Points.

Summary: yesterday’s Fixed Rate is you choosing the markets yourself; today’s Vault is one that helps you allocate.

⚠️ 4.83% is the current APY, not something locked in and unchanged after you deposit.

* NFA, DYOR.

#TermMax $TMX

Put 1000 U into a Fixed Rate at @TermMax — let’s give a practical example 😼

For example, on the market shown in the picture: the USDT / NVDA pair currently has a Lend APR of 2.50%, with maturity on August 31.

If you trade 1000 USDT at this rate, then based on the remaining time (rough estimate), you’ll receive about 1000.86 USDT at maturity. (Because today is already Aug 19 😂

How much you earn isn’t the key point—the key point is: once the order is executed, the interest rate and the maturity date/time are already locked in.

No need to keep guessing whether tomorrow’s rate will change. That’s the most intuitive advantage of Fixed Rate: it’s easier to calculate and more convenient for planning your funds.

#TermMax $TMX

Just looking at the data @TermMax : currently we already have:
▸ TVL over $90M
▸ 1.5M+ registered wallets
▸ 90K+ daily active users
▸ 10 EVM chains deployed

Besides these data📊, what we’d really like to talk about is the Fixed Rate fixed interest rates that TermMax has been working on all along.

Right now, many DeFi lending and borrowing products offer floating APY.

For ordinary users, if today is 8% and tomorrow is 4%, at most you just earn a little less; but for Treasuries, market makers, or even institutions—if they don’t know the future month’s funding cost, it’s actually hard to manage cash flow.

So what TermMax is trying to do is actually very easy to understand:
Known Rate. Known Term. Known Risk.
Know the interest rate, know the term, and also try to know in advance what risks you’re taking on.

Recently, they’ve also started extending this logic to bStocks, HyperEVM, Robinhood Chain, and even Tokenized Equities like QQQ, SPY, and NVDA.

As for those of us who’ve been grinding points all this time… what we want to know most is, of course:
How much is my XP / AP / MP actually worth in $TMX?😂

Next, just wait for the Allocation, Vesting, Staking, and the final Claim rules💪

#TermMax

$TMX’s TGE time is finally set at @TermMax , and the event has also arrived at the Binance Square! 🎉

First of all, remember to complete the newly launched Booster event today—it's very simple, and you can finish it in just a few minutes～

The answer to the third “Learn About TermMax” question is: ABACA ✅

After you’re done, don’t forget to go back to the event page to check your task status—don’t finish everything and forget to confirm it 😼

Next, let’s all wait together for the $TMX TGE on August 25!

#TermMax

$DOS , why did you reject me?～

Just didn’t watch it for 5 minutes—when I went upstairs to place the order, I broke even and exited………
Luckily it flattened by 30% in the meantime

Before going to bed, I’ll write down the trades I made today. It’s probably the two prettiest long positions I’ve taken in the last four years of trading NQ: 155 points & 250 pips.☕️

Coincidentally, today is also the fourth anniversary of trading NQ.

Over the past month, I can clearly feel my progress. Whether it’s waiting for a chance to enter or patiently waiting for the take profit, I’m steadier than before, and I’m increasingly trusting my judgment. Thanks to many trading gurus at home and abroad for their sharing—whether it’s books or videos. And thanks to myself, the one who never stops learning, practicing, and reviewing.៸៸¯ᗜ¯៸៸

My biggest takeaway recently can be summarized in one sentence from Livermore’s *Reminiscences of a Stock Operator*:
“Before the time is ripe, no matter how hard you work, it’s still all in vain.”

The direction may be right, but if the entry timing is wrong, it won’t just result in an unnecessary stop-out and draining your energy—it may also affect the original correct judgment. So I need to seriously write this line into my trade review journal.

These weeks I’ve posted less on here too, because I’m watching the market the moment I get up. In between I squeeze in cooking and cleaning the apartment, and then I keep watching the market all the way until I sleep at 3 or 4 a.m. Time just flies by.

At the same time, I don’t know what I should post. For one thing, I haven’t had many things worth writing lately. For another, I feel my research is still relatively shallow—if it ends up affecting others because of that, it wouldn’t be good.

Is it still too much pride and too cautious a problem? Looks like I probably won’t be able to become a KOL after all, haha. So what this account posts next will just be on a whim, haha.

If there are trades worth recording, I’ll post a trade review. If there’s life I want to share, I’ll post that. Occasionally I’ll just show off my cat.🐱

Anyway, I hope my recent trading condition can keep going. Other people’s models, trading insights, and trading habits can only serve as references. What’s truly useful are the things that you’ve tested yourself—and that genuinely fit you.

For example, I’m a day trader. If I can catch big moves, that’s great. If not, making a bit of profit during the day to cover living expenses, handling utilities and bills, and taking good care of myself and the cat’s life—that’s also more than good enough.

In the end, trading is still for living.

I sincerely wish every trader good physical and mental health, and the ability to live your life well—nothing matters more than that.

Oh wow, this $TAC
How many people got buried?
This past 2 months has been the most exciting time—at the peak it basically vanished, down 77%.
Watching it drop is thrilling.

The Sharpe ratio isn’t about whether BTC is going up or not—it’s about whether the gains are worth the risk given such large volatility.

Now that BTC’s Sharpe ratio has fallen to a low since 2022, it indicates that the risk-reward for holding BTC over the past year has been poor: volatility is still there, but returns haven’t kept up. This doesn’t necessarily mean an immediate top or bottom, but it suggests that institutional capital will be more cautious and the market will place greater emphasis on fund flows and key support levels.

#比特币夏普比率创2022年来新低

MicroStrategy didn’t hold back this time either—sold $BTC

Vitalik publishes a “Lean Ethereum” roadmap.

This time, the focus isn’t on a new upgrade going live right away. Instead, it’s the long-term direction for Ethereum over the next few years: Lean Ethereum.

💡 The core can be summarized in one sentence:
Make Ethereum lighter, faster, and easier to verify.

Ethereum’s problems are no longer just about expensive gas, or too many L2s and fragmented user experience. The protocol itself is becoming increasingly complex.

More complexity means higher development difficulty, harder security audits, and it becomes harder for ordinary people to understand. The cost of running and verifying nodes also keeps rising.

So this time, the direction isn’t to keep bolting on more features to Ethereum. Instead, it’s about reorganizing the underlying layers: while maintaining security and decentralization, make Ethereum simpler, more robust, and better suited for long-term scalability.

In this roadmap, several key points are worth paying attention to:
1️⃣ Improve L1 performance
The goal isn’t to have L1 take over all the work from L2. The goal is to make the mainnet itself stronger—with faster finality and higher throughput.

2️⃣ ZK will become more important
In the future, Ethereum will rely more on technologies like STARKs / zkEVM to reduce verification costs, rather than having every node repeat large amounts of computation.

3️⃣ Post-quantum security is on the agenda
Quantum computing may not break all cryptographic systems tomorrow, but planning ahead is necessary.

4️⃣ Privacy will become a more central direction
Not treating privacy as an add-on feature, but expecting Ethereum in the future to value privacy experience at the protocol level.

5️⃣ Reduce protocol complexity
This may be the most important point.
Once a system grows large enough, the real danger isn’t “not being flashy enough,” but being so complex that no one can fully understand it.

Of course, this isn’t a short-term, pump-and-dump kind of positive catalyst.

It’s more like a long-term engineering draft for 2026 to 2029, so I won’t interpret it as “ETH is about to skyrocket.”

But in the long run, at least it shows that the Ethereum team has realized:
Telling stories isn’t enough.

If these directions can truly be implemented step by step in the future, that’s the key to Ethereum continuing to maintain its position as the underlying public chain.
#vitalik公布精简以太坊路线图 $ETH

$RIVER There are signs of a slight inflow of funds starting today. 🌊

This rally may be related to the official launch of Season 6, as well as a newly announced product from the official preview.

S6 runs from July 1 to September 30, and is the first full operating Season under Conversion 3.0.

In addition to continuing to roll out the following this season:
• $RIVER staking and governance
• satUSD cross-chain applications
• partner campaigns
• River4FUN points campaign

The official also specifically mentioned that River will enter a new market that is being reshaped by new technology, and will release a new product during S6.

Although the product itself hasn’t been directly announced yet, based on the wording, the market has already started trading this expectation.

Coming back to the 4-hour chart:
$RIVER previously kept falling all the way, then stabilized around 3.60 to form a short-term bottom. After that, the price surged quickly and reclaimed the 4.00 level.

Right now, I’m watching two key areas:
Around 4.20: the first resistance for the short term.
If it can hold effectively, the price may further test the 4.60–4.80 zone.

Downside, I’ll continue to watch 3.60.
As long as this level doesn’t break, the short-term rebound structure is still intact. If it breaks, the prior bottoming logic needs to be reassessed.

So this isn’t about blindly chasing higher prices just because “there’s a new product.” It’s about whether the market will confirm this expectation using volume and price structure.

There’s a catalyst in the news, and the charts are starting to change too. Next, we’ll see whether RIVER can truly turn the trend back around. 🐱

*NFA, DYOR

The U.S. says the action is intended to respond to Iran’s attacks on merchant ships in the Strait of Hormuz, and accuses Iran of violating the ceasefire conditions first.

Iran then launched retaliatory strikes, firing missiles and drones at U.S.-linked military targets located in Kuwait and Bahrain. At the same time, Iran accused the United States of undermining the ceasefire and subsequent diplomatic efforts.

So, more accurately, it is not yet that the U.S. and Iran have officially announced withdrawing from or terminating the ceasefire agreement. Rather, both sides have already resumed substantive hostilities, and the ceasefire is entering a state where it could collapse at any moment.

And the most market-relevant thing to watch this time remains the Strait of Hormuz.

Earlier, as the ceasefire took effect and some merchant ships resumed passage, the market began to unwind the war premium, and oil prices clearly fell.

Now, with merchant ships again coming under attack, the U.S. and Iran are re-engaging over control of the strait, and the market needs to reassess three issues:
1️⃣ Will navigation through the Strait of Hormuz be obstructed again?
2️⃣ Will Iran expand its strikes on merchant ships or energy facilities?
3️⃣ Will the U.S. retaliation escalate from limited military targets to a broader scope?

Since the news broke over the weekend, the traditional market has not yet fully repriced it.

After the market opens on Monday, first watch whether Brent and WTI gap higher, and whether gold, the U.S. dollar, and the VIX rise in sync.

For the crypto market and the Nasdaq, the more direct short-term pressure comes from risk-off sentiment and rising energy prices.

But this also should not be understood simply as: “war means oil must surge and risk assets must definitely fall.”

If merchant ships can still maintain passage and the strikes remain limited to military facilities, the market may only trade the war premium briefly. The truly dangerous signal would be a widespread shutdown of navigation in the strait, or attacks on key oil infrastructure.

So instead of rushing to chase the headlines, it’s better to first focus on the real conditions of navigation through the Strait of Hormuz.

Whether the ceasefire agreement has been formally torn up is one thing; whether crude oil can be shipped out smoothly is where the market will actually cast its vote with capital.

#美伊停火协议破裂

Take profit, feeling happy 🥳