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The newly launched chat room feature is particularly powerful, and the ecosystem is becoming increasingly better.

【知识科普】读懂市值变化与资金流入

常见的流通市值计算方式是：
流通市值＝代币参考价格×流通数量。
它是在当前价格口径下，对流通代币整体估值的结果。

用一组假设数字说明：某代币流通量为 1,000 万枚，参考价格为每枚 1 美元，流通市值就是 1,000 万美元。假设流通量保持不变，参考价格上涨至 1.10 美元，市值会变成 1,100 万美元，增加 100 万美元。

这 100 万美元是估值变化，单凭这个差额，无法算出期间实际有多少资金进入市场。公式把更新后的参考价格乘到了全部流通数量上，并不要求所有代币都按新价格交易过一遍。上面的价格与数量仅为教学假设，不代表任何真实代币。

价格能被多大规模的交易推动，还取决于流动性。买卖盘深度不同，相同规模的交易可能带来不同程度的价格变化。因此，分析市值变化时，还需要结合成交与流动性数据。

另一个容易混淆的点是供给口径：常见流通市值使用流通量，完全稀释估值（FDV）则采用最大或总供应量等口径，具体应查看数据平台定义。对同一资产，换了供给口径，得到的估值数字也会变化。

读市值时，把参考价格、供给口径和统计时间放在一起看，才能准确理解这个数字表达了什么。

来源：币安学院、CoinMarketCap 方法说明
https://www.binance.com/en/academy/glossary/market-capitalization
https://support.coinmarketcap.com/hc/en-us/articles/360043836811-Market-Capitalization-Cryptoasset-Aggregate

#加密知识 #市值

【Industry Update】Coinbase sets date for third-quarter earnings report; Q&A time converted

Coinbase announced on October 14, U.S. local time, the schedule for releasing its third-quarter 2026 financial results. This is a new schedule announcement; the results themselves have yet to be released.

1. When will the earnings report be released?
The company plans to publish its third-quarter financial results and related materials on its investor relations website after the market closes on October 29, U.S. local time. The announcement did not specify the exact minute the report will go live, so it should not be presented as a confirmed, precise time.

2. When will the Q&A take place?
The company has scheduled an online Q&A for 14:00 Pacific Time on the same day, corresponding to 05:00 on October 30 in Beijing time. Note that it falls on the next calendar day: readers in Beijing should look for it early on the morning of the 30th, not the afternoon of the 29th.

3. Where can you verify the original information?
The Q&A will be held on X and streamed simultaneously on YouTube. Afterward, a replay and transcript will be posted on the investor relations website. The original earnings materials can be read alongside the management Q&A.

My observation: This announcement establishes the timing of a future disclosure. It does not provide this quarter’s revenue, profit, or trading volume. Only after the earnings report is released can we review the actual business figures and management’s explanations to discuss how the business performed this quarter.

Source: Official Coinbase Investor Relations announcement
https://investor.coinbase.com/news/news-details/2026/Coinbase-Announces-Date-of-Third-Quarter-2026-Financial-Results/default.aspx

#行业快讯 #Coinbase

【Morning Market】BTC, ETH and BNB pull back, with ETH relatively weaker

Data timestamp: October 15, 2026, 09:03:43 Beijing time. The following figures are for Binance spot USDT trading pairs; price changes and trading volumes are based on a rolling 24-hour period.

BTC: 81,795.31 USDT, 24-hour change -1.866%, trading volume approximately 1.557 billion USDT.
ETH: 2,423.96 USDT, 24-hour change -3.210%, trading volume approximately 819 million USDT.
BNB: 731.32 USDT, 24-hour change -1.617%, trading volume approximately 65.81 million USDT.

Compared with the same-platform snapshot saved yesterday at 17:05:49, the prices of BTC, ETH and BNB have fallen by approximately 2.03%, 3.32% and 1.41%, respectively. These are price changes over approximately 16 hours between two snapshots, and are distinct from the rolling 24-hour changes above.

In the current window, the 24-hour ranges are 81,398.37–84,146.72 for BTC, 2,403.69–2,530.44 for ETH, and 726.27–747.00 USDT for BNB. The latest prices of all three are in the lower quartile of their respective ranges; among these three trading pairs, ETH also has the largest 24-hour decline.

My observation: The current snapshot shows all three trading pairs weakening at the same time, with ETH under relatively greater pressure. To assess whether this move continues, monitor consecutive candlesticks, prices’ positions within their ranges, and trading data measured on a consistent basis. A short-term rebound and a trend reversal require different evidence; neither can be confirmed based solely on a single price move. The historical highs and lows of the ranges above should not be treated directly as support or resistance.

Source: Binance official spot market data API; yesterday’s comparison data is a same-source snapshot saved by this account.
https://data-api.binance.vision/api/v3/ticker/24hr?symbols=%5B%22BTCUSDT%22,%22ETHUSDT%22,%22BNBUSDT%22%5D

$BTC $ETH

U.S. September CPI data will be released tonight at 20:30

Official August data:
Headline CPI rose 0.4% month over month and 3.4% year over year. Core CPI rose 0.3% month over month and 2.4% year over year. Energy prices rose 2.1% month over month and 16.3% year over year. Housing costs rose 0.3% month over month. Food prices rose 0.1% month over month and 2.7% year over year. Gasoline prices rose 3.9% in a single month, accounting for more than a third of the monthly increase in headline CPI.

Market expectations for September data:
Headline CPI to rise 0.5%–0.6% month over month
Headline CPI to rise 3.6%–3.7% year over year
Core CPI to rise 0.2% month over month
Core CPI to remain at 2.4%–2.5% year over year
Overall inflation this time may be driven by energy prices, but the market is more focused on core CPI. If core CPI rises by 0.3% or more month over month, the market may once again raise its expectations for Fed rate hikes. The U.S. dollar could strengthen, while risk assets such as BTC, U.S. stocks, and gold may come under pressure.

If the core data meets or falls below expectations, the market is more likely to bet that the Fed will pause rate hikes, which could support risk assets.

Simply put, headline CPI determines the initial reaction, while core CPI is more likely to determine whether the market move continues. This post was published before the data release; the actual figures should be taken from the official release.
#CPI数据

Why is the dentist always the one who gets roasted the most? 😂

【5:00 PM Market Watch】BTC, ETH, BNB Price and Volume Snapshot

Data timestamp: October 14, 2026, 17:05:49 Beijing time. All figures are for Binance spot USDT pairs; price changes and trading volumes are based on a rolling 24-hour period.

BTC: 83,487.56 USDT, 24-hour change +0.081%; range 82,972.74–84,146.72, trading volume approximately 1.029 billion USDT.
ETH: 2,507.18 USDT, 24-hour change -0.050%; range 2,489.00–2,530.44, trading volume approximately 386 million USDT.
BNB: 741.77 USDT, 24-hour change -0.088%; range 736.87–747.00, trading volume approximately 46.14 million USDT.

In this snapshot, the net price changes for all three pairs are close to zero, and their current prices are all between their respective 24-hour highs and lows. However, calculated as “high minus low, divided by the price at the start of the period,” the price ranges for BTC, ETH, and BNB are approximately 1.41%, 1.65%, and 1.36%, respectively. Net directional change and price volatility over the period should be considered separately.

Among these three pairs, BTC has the highest trading volume. However, this only reflects trading data for the current period; without historical data using the same methodology, it is not yet possible to determine whether volume has increased, nor to confirm a one-way trend based on this alone.

My observation: Going forward, we can look at consecutive candlesticks alongside historical trading volume to see whether price movements persist and whether price and volume move in sync. The highs and lows above are period statistics only; they should not be treated directly as support or resistance levels or breakout signals. Prices will continue to change, so the snapshot timestamp should be considered alongside the figures.

Source: Official Binance Spot Market Data API
https://data-api.binance.vision/api/v3/ticker/24hr?symbols=%5B%22BTCUSDT%22,%22ETHUSDT%22,%22BNBUSDT%22%5D

$BTC $ETH

【Industry Observation】AI Infrastructure: Areas Beyond GPUs Worth Watching

As of October 14, the OCP Global Summit is underway in San Jose, USA, during its announced dates of October 12–15. The organizer’s website shows that tickets are sold out. This reflects demand to attend the event, but does not support any estimates of product sales.

A look at NVIDIA’s published conference agenda reveals a range of topics, including liquid cooling, power delivery, networking, equipment reliability, and security. For large-scale AI systems, connecting computing equipment, supplying it with stable power, and keeping it cool are all part of the overall deployment solution.

One specific example is the USFP pluggable optics solution announced by NVIDIA and Cisco on October 12. The announcement says the solution is designed for electrical signals of 400 Gb/s per lane. The two companies also plan to develop an open industry specification through a community-led project. These are announced design and collaboration plans, and should not be taken as evidence that large-scale deliveries have already been completed.

My observation is that AI infrastructure development can be assessed by looking at three questions: Can networking keep pace with computing scale? Can power and cooling support continuous operation? Can equipment from different vendors work together? The system’s actual efficiency needs to be assessed using real-world deployment data.

What’s worth tracking next are open specifications, partner products, and progress on actual deployments. Individual specifications offer a starting point for analysis; only implementation can complete the picture.

Original sources: OCP organizers, NVIDIA
https://www.opencompute.org/events/ocp-summit/2026-ocp-global-summit/
https://nvidianews.nvidia.com/news/nvidia-and-cisco-introduce-new-pluggable-optics-form-factor-to-scale-ai-factories

#AI #IndustryObservation

The movement of $BTC has slowed significantly, and volatility is quite low. Therefore, no major changes are expected in the near future; only some consolidation in this area.

Trading volume has declined slightly, while conditions remain unchanged, with a balance of power between buyers and sellers. In the near future, the price may consolidate in the $82,000–$84,000 range.

Why haven’t I received even a single cent in rebates after linking an invitation code?

This usually happens because your referrer hasn’t set a rebate rate, or because the rebate was simply withheld.

How can you fix this? Can you bring back an old user?
Under the current policy, old users can return or add an invitation code later only if they have no existing referral link.

For accounts that already have a referral link, the only solution is to activate the Supporter feature, then register through a Supporter link.

That way, you can earn rebates from your own referrals and won’t have to worry about someone else withholding them. You can also invite people around you to help them save money—it’s easy and hassle-free.

This is currently the best solution.
#比特币反弹至8.3万美元上方

It's been a while since I last did an airdrop. Here are some stats from last week.

A lot of you on the Plaza should have received one, right? 😁

Check whether your Binance account has already been linked to an invitation code.

1. Tap the three dots in the top-right corner of the Futures screen.
2. Select “Invite Friends.”
3. Scroll to the bottom and tap “Invited Users.”

You’ll be able to see the linking status of your current account.

If it says no invitation code has been used, congratulations—you can add one now. If your account is already linked, don’t worry. You can set up a referrer for your current account and register through their link, allowing you to earn commissions back for yourself.

Your invitation code determines your commission relationship and rate. The trading fees you save through commissions can become your capital.

Go check whether your Binance account has already been linked to an invitation code!

Over dinner on the weekend, Zhou and Chen got talking about Binance referral commissions.
“I invited a few friends before, and I occasionally receive a little commission,” Zhou said.
“What rate do you get?”
“10%.”
“I’ve set my referrer link to 40%.”
Zhou put down his chopsticks. “We’re both inviting friends. How can the difference be so big?”
He’d only ever looked at how much money he received and had never really read the referral commission rules.
Let’s start with a simple calculation.
Suppose a friend generates 100 yuan in trading fees that qualify for referral commissions. At a 10% rate, that’s 10 yuan in commission; at 40%, it’s 40 yuan. If all other conditions are the same, the latter is four times the former.
But this calculation is based on trading fees—not your friend’s deposit, trading principal, or profits. If your friend trades 10,000 yuan, that doesn’t mean you’ll receive 4,000 yuan.
After hearing this, Zhou immediately asked, “So if I become a referrer, am I guaranteed to get 40%?”
“Check the specific settings first. Don’t just go by the numbers in promotional materials.”
Binance’s official information says that referrer commission rates are set by Super Referral members and can be as high as 40%. You don’t automatically get 40% just by signing up. Standard referral rates aren’t always 10% either; they depend on the specific product and account rules.
A higher rate and a guarantee of earning more are two different things.
Even with a 40% rate, if your referred friends don’t make eligible trades, your commission could still be zero.
If you already create content or run a community, and people often ask you about the platform, increasing your referral rate could be worthwhile. But if you just see a high number and start sending links everywhere, people may not be interested.
Zhou asked again, “If I get 40%, does that mean my friends can save 40% on their trading fees too?”
That’s another common point of confusion.
**The referrer’s commission and the friend’s trading-fee cashback are set separately.** How much you earn doesn’t determine how much your friend saves. Before sharing a link, check what benefits your friend can get and which trades are eligible.
In my view, the most useful thing to understand about the referrer program is how much you can earn from the same amount of eligible trading fees. But when recommending it, you should also be upfront with your friends: I may earn a commission when you sign up through this link.
Earning a commission is easy enough to explain; hiding it is what can damage trust. And never encourage friends to trade more just so you can earn more commission.
Understand the rates and benefits, explain things clearly, and then decide whether to sign up. That’s more useful than fixating on the words “40%.”