密智君 Crypto Plus AI

Whoa, I just saw this chart in the square, and I'm completely stunned. This isn't trading; it's practically a real-life 'suicidal attack'.

Brothers, did you see clearly? This dude went short on $LAB at 0.68, and now the price has skyrocketed to 4.7. He's sitting on a paper loss of $487,000, with a return rate of negative 85.95%. What's heartbreaking is his message: he's mortgaged his house and car, and has been margin-calling ever since; he really can't borrow any more money now. The liquidation price is at 5.29, just a step away from the current price.

Honestly, looking at this chart really reminds me of my past self. That desperate feeling of watching the price jump toward the liquidation line while being completely powerless is enough to drive anyone insane. This isn't shorting; it's like playing a 'life swap' game with the market makers. You thought 0.68 was a high point, but the market makers are telling you there's always a higher high.

What I admire (and feel sorry for) is his obsession. Going all-in short with 1x leverage, enduring nearly a 7x increase. That takes some serious 'courage' and a thick wallet, huh? But the trading market doesn’t care about tears, and definitely doesn’t believe in 'holding on for dear life'. You try to reason with the market makers, but they just want to drain your last drop of blood. $BTC #LAB

Wow, this guy made 140,000 times his investment in 14 years. Who else can be as awesome as him? In 2011, he spent less than $8,000 to buy 10,000 $BTC , when one Bitcoin was only $0.78.

So what happened? He just held on for 14 years! By October 2025, when Bitcoin broke through $109,000, he sold everything and cashed out over $1 billion. A 140,000 times return, this is not just investment, this is simply like cultivating immortality.

To be honest, what I admire most is not that he bought early, but that he was able to hold on. Over these 14 years, he experienced hundreds of crashes and endured four long bear markets lasting several years. How many times did the market halve, how many times did the media shout 'Bitcoin will go to zero', and he never wavered once. This kind of determination is really not something ordinary people can possess.

I used to have quite a few good stocks, but I sold when they rose two or three times, and cut losses when they fell by 20%. Seeing others get a 140,000 times increase, I can only mock myself: people like us who can't hold on deserve to miss out on big money.

Risk Warning: This kind of 'get rich quick myth' is an extreme case of survivor bias. Just because he made a fortune after 14 years, don’t think you can do the same. Investment requires caution; first, ask yourself if you can withstand a 90% drawdown.

What do you think? If you bought 10,000 Bitcoins in 2011, could you still hold on until now? Be honest in the comments, at which point would you get off the ride?
$BTC

This needle from SK hynix is brutal: on Hyperliquid, the $SKHY surged from $1,065 back to $1,120 in one second, instantly rebounding 5.2%. A company with nearly a trillion-dollar market cap somehow traded with the flavor of a meme coin.
At first glance it really looks like a “needle that spikes orders and liquidates lots of positions,” but judging manipulation—or liquidations—can’t be concluded based on candlesticks alone. What’s being traded isn’t the native Korean exchange stock, but stock perpetual contracts deployed on Hyperliquid by TradeXYZ. The oracle tracks Korean stock prices, and the anchor is maintained through the order book, funding rates, and arbitrage capital.
The issue is in this structure: when the Korean stock market is closed, native spot cannot provide price discovery in time, yet the on-chain contracts continue trading 24 hours a day. Once longs get crowded and leverage is too high, if sell orders punch through the thinner liquidity pockets, you can get a “contracts drop first, oracle follows and corrects later” deep wick.
Currently, SKHX has about $384 million in open contracts, with 24-hour trading volume nearing $915 million, and leverage up to 10x. Dropping from 1,065 to 1,120 and then pulling back means traditional spot shareholders might feel nothing, while on-chain leveraged longs could already be liquidated.
This spike looks more like the combined effect of liquidity and liquidation mechanics—not enough to prove the platform intentionally engineered a squeeze. But it’s a warning to everyone trading stock perps: you’re targeting a large-cap stock, but that doesn’t mean the contract behaves like a large-cap either.
So when you’re making money, be careful with the market. Would you short SK hynix stock? #SKhynix

So long I’ve never seen it, one of the ancient Bitcoin OGs—“Old Cat”—at the Benmo Hui site publicly admitted: missing out on AI was one of his biggest mistakes. Now his asset allocation is very straightforward: 1/3 into AI, 1/3 holding $BTC , and 1/3 keeping liquidity.

It’s quite rare for someone to openly admit they got it wrong. More importantly, he didn’t sell BTC to go all-in on AI; instead, he put his faith, growth, and cash each in one-third. The point of this allocation isn’t maximizing returns—it’s preventing himself from missing a new cycle again, while also leaving himself an exit in case his judgment is wrong.

But when I saw the PPT saying “AI still has 2 to 3 years,” I couldn’t help but think back to EOS from back then: wave three hit 1000, an ecosystem of infinite prosperity, and super-nodes ruling the world.
Of course, AI and EOS are completely different in scale. AI already has chip revenue, cloud service demand, and real companies paying for it. EOS back then relied more on financing, consensus, and the token-price cycle. The similarity isn’t in the industry—it’s in human nature. The more right a track looks, the easier it is for everyone to price in future two- or three-year growth ahead of time.

Back then, Old Cat was one of the most fervent promoters of $EOS. Now he’s standing at the edge of the AI cycle again. This time, is it truly a cognitive upgrade—or has he simply switched to a grander narrative to cut another batch of “grass”? In the end, it will depend on whether AI investments can continue generating cash flow.

I do recognize a three-way allocation, but I don’t believe any sector has a “2 to 3 year script” written in advance. What the market is best at doing is making the right people buy at the wrong price.

So do you buy into Old Cat’s asset allocation—or do you think this is just another narrative of crypto big shots coming in to cut the next batch of grass? Feel free to discuss together. #AI担忧致10只标普500成分股跌超40%

The most outrageous prophecy on Zhihu by $BTC : it will reach $775,688.97 in 2030—even down to two decimal places.
Based on BTC’s current price of about $632,000, in the next 3.5 years it would need to rise by 12.3x, with an annualized growth rate of over 100%. By then, estimated circulating supply of about 20.6 million coins would put Bitcoin’s market cap at nearly $1.6 trillion.
The difficulty isn’t whether BTC has a chance to keep rising; it’s how much global capital needs to move in order to support a market of that size. ETFs, corporate treasuries, sovereign funds, and currency debasement are all indispensable. In between, it also has to withstand regulatory changes, liquidity contraction, and at least one round of a deep drawdown.
I remain bullish on BTC in the long term, but predictions precise to “$775,688.97” are more of an expression of faith than a valuation model.
The real test for holders isn’t the endpoint in 2030, but whether you can hold on when you’re down 30% or even 50% along the way.
DYOR. Be a holder, but don’t be a holder with no risk tolerance. #BTC预言家模式 #etf

Daily morning news: Brent oil plunged 6.3% overnight, US Treasury yields fell to 4.65%, and $BTC slipped below the $64,000 level—good news easing the downside, but market sentiment remains tense.
Iran and the US have paused mutual attacks and resumed negotiations; Brent settled at $85.87, and energy-inflation pressure has clearly cooled. But the US stock market didn’t see broad gains: the Dow rose 0.51%, the S&P 500 closed nearly flat, the Nasdaq fell 0.18%, and <$NVDA > Nvidia dropped as much as 5%. Investors are currently more concerned about whether AI capital expenditures can turn into profits, and whether the Fed will continue to send hawkish signals.
As of this morning, BTC is around $63,700, down 2.5% over 24 hours; <$ETH > is about $1,887, down 3.2%, and the total crypto market cap has retreated 1.4%. With both oil prices and yields falling, crypto assets remain weak—suggesting funds are actively reducing high-volatility positions rather than simply trading geopolitical risks.
For today, watch whether BTC can hold $63,600 and reclaim $65,000; if ETH breaks below $1,880, short-term pullbacks may further intensify.
Risk reminder: The Federal Reserve meeting and earnings reports from major tech companies are approaching. In low-liquidity periods, sharp selloffs and concentrated liquidations are more likely. Are you going long or short today? #以太坊逼近2000美元 #长鑫存储科创板IPO募资579亿元

Foreign capital is casting votes with real money: net buying of US stocks over the past 12 months totaled $909 billion, setting a record high in history.
Just in May of this year alone, overseas investors bought $134 billion worth of US stocks. At the same time, they also reduced holdings of $43.5 billion in short-term US Treasuries.
This set of data is quite interesting.
Global funds aren’t simply “seeking safety in the US”; instead, they’re actively selling portions of lower-risk assets and chasing AI leaders such as Nvidia, Microsoft, $META , and OpenAI. The core reason the US attracts capital has gradually shifted from high interest rates toward AI profits and technology assets.
But the surge of foreign capital also has another side.
$900 billion sounds extremely staggering. Once placed within the massive US stock market, it accounts for only about 1.3% of total market value. It’s enough to move the index, but it’s difficult to independently support the valuations of all AI companies. In the end, capital will still concentrate in a small number of companies that can turn capital expenditures into revenue and cash flow, while edge assets that are merely riding the AI theme are more likely to be discarded.
Overseas investors currently hold roughly $23 trillion in US stocks. If the Fed turns more hawkish, the dollar weakens rapidly, or AI earnings miss expectations for consecutive quarters, foreign investors won’t just stop buying—they could also stack currency losses on top of stock price declines.
The same is true for Crypto. US tech assets, $BTC , and $ETH are all competing for global risk capital. If foreign capital keeps flowing in, US tech stocks and the crypto market will benefit; but once this funding chain reverses, highly valued assets will find it hard to stay unaffected.
The biggest bull in this rally isn’t US retail investors—it’s global capital’s collective bet on America’s AI assets.
Today, China’s A-share Great Market also saw ChangXin Technology jump 500%, as funds bet on the development of AI technology. Which AI stocks did you buy? #长鑫存储科创板IPO募资579亿元 #长鑫存储上市首日涨472% #AI担忧致10只标普500成分股跌超40%

Awesome! Changxin Technology opened with a market value of 3.3 trillion, directly becoming the #1 in the A-share market, surpassing even China’s biggest bank Industrial and Commercial Bank of China and major state-owned enterprises like PetroChina and Sinopec. All we can say is that the AI era is the biggest wealth-making opportunity of this round. Have you bought shares of Changxin Technology today? $NVDA.US #长鑫存储上市首日涨472%

China’s first AI storage stock: it opened with a market cap of 3 trillion yuan. Plus, a bullish call from Nomura Securities sees it reaching 7 trillion yuan—valuing it against the share price of South Korea’s SK hynix.
Ahead of the session, Zhaoxin Technology’s pre-market order bid surged to 49.5 yuan; one lot (500 shares) showed an unrealized gain of about 20,400 yuan. Before China’s A-shares officially opened, the shorts on Hyperliquid were already getting squeezed.
Up about 5.7x from the 8.66 yuan issue price—equivalent to roughly 7.3 USD per share. Fueled by this, the on-chain CXMT contracts quickly spiked. The 272,500 CXMT short positions held by address 0x517b were fully liquidated, and a $1.8 million position ultimately lost $249,000.
The biggest conflict in this move is that three different price levels coexist:
The issue price of 8.66 yuan corresponds to an estimated valuation of about 5,792 billion yuan; the 49.5 yuan pre-market price implies a valuation already exceeding 33 trillion yuan; Nomura’s target price of 116 yuan pushes the valuation to nearly 78 trillion yuan.
What the market is buying isn’t just Zhaoxin’s current profits, but a three-layer expectation: a “China version of SK hynix,” domestic DRAM substitution, and higher AI memory prices.
But it’s important to be clear: on Hyperliquid, CXMT is a perpetual contract deployed by TradeXYZ—not Zhaoxin Technology stock—and it has no dividends, voting rights, or redemption rights. It trades market expectations, and its leverage and liquidity are far weaker than those of A-shares. When the price is even slightly distorted, shorts get liquidated first.
What matters today isn’t how much it can rise, but whether the A-share trading price after the official open can hold up the on-chain $7-area pricing. If A-shares gap up and then retrace, CXMT longs may also face reverse liquidation.
Risk warning: pre-market bids are not the final transaction price; on-chain CXMT is not the same as Zhaoxin Technology stock. #长鑫科技IPO定价8.66元估值5791亿元 #长鑫科技

Morning Market Update: Brent oil fell more than 5% overnight. US stock index futures collectively rebounded, and $ETH even surged to 1,944 USD—while the situation in the Middle East has temporarily cooled down. The market can finally breathe a little.
Last Friday, US stocks remained mixed: the Dow rose 0.5%, the S&P closed roughly flat, and the Nasdaq fell 0.6%; for the full week, the Nasdaq saw a total decline of 2.1%. Heavy AI investment, oil prices, and the 10-year US Treasury yield at 4.69% are still weighing on tech stock valuations.
This morning, the wind direction suddenly reversed. Iran and the U.S. resumed contact and paused further attacks. Brent oil, which had broken above $100 last week, has pulled back to around $87. Nasdaq 100 futures are up about 1.2%, and Japan’s Nikkei 225 opened up 0.4%. Capital is now trading the easing of geopolitical risk, but the negotiations have not been finalized. This rebound could be interrupted at any time by new developments.
The crypto market is performing even stronger: $BTC is around $65,150, up 1.5% over the past 24 hours. ETH is around $1,944, up 4.2%, and the ETH/BTC ratio rose to 0.02985. Although last Friday spot ETF flows for BTC and ETH saw net outflows of $240 million and $70.7 million respectively, coin prices did not continue to sell off. This suggests weekend selling pressure was absorbed by spot market inflows.
Today, first we’ll see whether ETH can hold above $1,935 and push toward $2,000. BTC needs to break above $65,500 to open up further room. This week, the Federal Reserve meeting and earnings reports from Apple, Microsoft, $META , and Amazon are coming thick and fast. The retreat in oil prices is only the first hurdle—interest rates and AI capital expenditures are the real battles ahead.
Risk warning: Geopolitical talks may still face setbacks; chase-buying after the Monday open is prone to a rapid pullback. #美暂停打击伊朗第二夜 #比特币挖矿难度或下调1.2%

On-chain activity: a certain whale deployed 3.71 million $USDC to buy the dip, but this time did not chase the rally directly. Instead, they placed 30 limit long orders worth $BTC totaling $2.68 million between $65,945 and $66,214.
Address: 0x0000…e24d
This address also holds long positions in crude oil and Brent crude, with a total notional exposure of about $8.67 million and an unrealized profit of $1.11 million, with no short positions at all.
This suggests they are betting that "geopolitical risk will push oil prices higher, but $BTC there will still be support after a pullback," and they are using layered limit orders to control cost rather than going all in blindly.
Next, watch $65,945: if BTC keeps falling after the orders are filled, the whale may see losses widen; if the orders go unfilled for a long time, that also means the current support level is below the market price.
Risk reminder: limit orders can be canceled at any time and should not be treated as already executed. Would you buy the BTC dip now? #链上分析

Project Analysis｜RWA Leader on Robinhood: Why Is ONDO Worth $1.85 Billion?
$ONDO Currently around $0.38, circulating market cap of $185 million, and FDV of about $3.8 billion; the price is still down 82% from the $2.14 peak, but the RWA assets managed by Ondo have grown to about $3.52 billion. Product expansion and a “flat” token price—the contrast is the key focus for research.
Ondo’s core business is no longer just selling U.S. Treasuries on-chain. OUSG’s underlying assets are about $409 million, allocated to money market funds such as BlackRock BUIDL and Franklin BENJI; Ondo Stocks offers hundreds of tokenized U.S. stocks and ETFs, supporting near-24-hour minting and redemption on weekdays. The official disclosures state that these products are supported by the corresponding securities, with the underlying assets held by U.S.-registered custodial broker-dealers.
The business data is solid: fees in the past 30 days are about $6.9 million; annualized fees over the past year are roughly $57.29 million; cumulative DEX trading volume is about $7.83 billion. When Robinhood opened ONDO for trading, it also lowered the barrier for traditional investors to access the RWA sector.
The issue is that buying ONDO does not automatically mean you are holding the $3.5 billion in assets managed by Ondo. ONDO is first and foremost a governance token; holders do not have direct legal claims to the OUSG reserves, custody assets for the stocks, or protocol revenue. DefiLlama shows that protocol revenue over the last 30 days is temporarily recorded as 0. How—or whether—product growth translates into token value is still the weakest link in the valuation.
The token supply also cannot be ignored. The total supply is 10 billion ONDO, and the circulating amount is currently about 4.869 billion—meaning more than half of the supply has yet to enter the market. With a circulating market cap of $185 million, it may look inexpensive; however, converting to FDV puts it near $3.8 billion. If future unlocks happen faster than RWA scale and revenue growth, the token price will continue to face dilution pressure.
On the chart, first see whether $0.37 can hold. The $0.40–$0.42 zone is the near-term pressure area. Only if there is synchronized growth—in Ondo Stocks’ asset size, trading volume, and the capture of protocol value—along with a breakout on increased volume will the market outlook be more solid. If it breaks below $0.37 and RWA capital continues to stall, then the short-term “recovery” thesis will need to be reassessed.
Ondo has proven that RWA products have real users. The next question is: when will the money made by the products translate into a clearer relationship with ONDO holders?
#ONDO‬⁩ #RWA板块涨势强劲

Ctrip was fined 5.179 billion yuan; the next one that should be closely watched, in my view, is Meituan.
For years, Meituan has held an absolute advantage in the food delivery market, and at one point its share of certain order segments approached 70%. What restaurant owners are most dissatisfied about isn’t simply that the platform makes money—it’s that commission, delivery, promotion, and activity subsidies stack on top of each other. In the end, although the last order looks like it generates a revenue stream, the profit that actually ends up in their hands keeps getting thinner.
The restaurant business is already a low-margin industry squeezed from three sides: rent, labor, and ingredients. As platforms take more and more, consumers get more discounts, Meituan captures more market share—but merchants end up losing money. Even more ironic is that delivery riders don’t seem to have gotten much higher pay.
When JD and Taobao Flash entered the scene, many people thought the food delivery landscape was finally going to change. But after a few rounds of subsidy “burning,” users took the perks like free wool, the platforms lost money, and the situation for merchants and riders still hasn’t fundamentally improved.
So what should be investigated isn’t whether Meituan is big enough, but whether it has used its traffic and algorithm advantages to keep shifting operating costs onto merchants and riders.
If a platform controls not only the traffic entry points, but also ranking rules, the delivery system, and pricing power, then how many real choices are left for merchants’ so-called “voluntary cooperation”?
Ctrip’s 5.179-billion-yuan penalty notice may only be the beginning of the platform economy settling accounts again.
Don’t say anything—my account is already overrun $BNB . Brothers, I’m going to deliver food!

Weekend market: $BTC The weekend rebound has risen to around $64,400, but the Middle East conflict has spread to Saudi energy facilities. Even in the restrained rebound, there is still a clear sense of caution.
BTC has rebounded to around $64,400 this weekend, but the Middle East conflict has spread to Saudi energy facilities. Even in the restrained rebound in prices, there is still a clearly evident caution.
The stock market is closed for the weekend, and the signals left from the last trading day are not strong: the Nasdaq fell 0.64%, slipping 2.1% for the week; $KOSPI tumbled 5.72% in a single day, with SK Hynix ($SKHYNIX ) down 8.34%. AI investment is squeezing profits, and Korean stocks are deleveraging—these are still the two lines suppressing risk appetite.
Macroeconomic pressure has not eased either. The yield on the US 10-year Treasury closed at 4.69%. Brent crude fell 3.88% to $96.78 on Friday, but over the weekend Houthi militants attacked Saudi targets, and risks for the Red Sea and energy transport have picked up again. Whether oil prices gap higher on Monday—watch out for your position risk.
As of early this morning, BTC is about $64,400, up 0.7% over 24 hours; $ETH is about $1,875, up about 1%. Neither has sold off sharply following geopolitical news, suggesting there is still support around $63,700. However, BTC’s daily trading volume has already dropped to about $13.3 billion, so the credibility of the weekend repair is limited.
This weekend, are you trading, or choosing to take a break from the market? #布伦特原油突破100美元 #英伟达与SK海力士达成5000亿美元AI合作

Token Unlocking Worth $813 Million in the Next 30 Days—Who’s the Most Dangerous? In the next 7 days, about $52.7 million worth of tokens will enter circulation, and the 30-day figure will rise to $813 million. Which tokens need you to plan ahead to prevent sharp up-and-down price swings? Keep your wallet safe.

The biggest short-term risk to watch is $H — this trash project has already run off. On July 25, a batch of H will be released to early contributors. Based on the current price, it’s about $18.5 million, or 15.01% of the circulating supply. This could further pressure and drag down the token price; using Tokenomist’s alternative circulation metric, it’s estimated at about $15.55 million, or 8.6%.

$AVAX The subsequent unlock is about $10.42 million, but it’s only 0.39% of the circulating supply, so the impact is smaller. $XPL is about $7.26 million, or 3.41% of the circulating supply. The amount is smaller, but the percentage is worth keeping a closer eye on. The main concentrated unlocks over the next 30 days will come from RAIN, PUMP, and Canton.

Unlocking doesn’t necessarily mean the team will dump the price immediately. In historical data, the post-unlock performance for PUMP saw a reported rise as high as 19.51%; RAIN only fell 1.9%. MemeCore, however, dropped 25.04%. Where the price goes ultimately depends on who receives the tokens, their cost basis, trading depth, and whether the market completes pricing ahead of time.

My observation order is simple: first look at the unlock amount as a percentage of circulating supply, then see who receives the tokens, and finally check whether there was an increase in volume and a rebound before the unlock. If large holders send tokens to exchanges while the price breaks below the pre-unlock low, then the selling pressure is effectively confirmed.

For more market analysis, project research reports, and hotspot observations—follow Mizhi Jun. Let’s exchange ideas and interact together, and make money together!

Odos processed $10.45 billion in transactions but still ended up shutting down
Another DeFi project couldn’t keep going, but this time Odos didn’t use “facing a hacker attack” to stall, nor did it paint a restart-with-a-big-dream picture. It simply announced: starting July 27, it will enter read-only mode; on July 30, it will permanently shut down all operational services.
Long-time users should remember the “airdrop-chasing mercenaries” controversy. To put it bluntly, the final airdrop wasn’t stingy. Many ordinary accounts received 100–200U. In today’s increasingly competitive airdrop environment, with witch audits getting stricter, that’s definitely a tidy chunk of money.
The issue with Odos isn’t that nobody uses it. DefiLlama shows its cumulative aggregated trading volume is about $10.45 billion, and in the past 30 days it’s still processed $227 million in transactions. A DEX aggregator with technology, users, and trading volume, yet it still couldn’t even keep the company running—the reason is pretty straightforward: trading volume doesn’t equal revenue.
The aggregator helps users find the best route, but most of the fees and liquidity-based earnings flow to the underlying DEXs and LPs. DefiLlama records that Odos token holders’ cumulative income is still 0. Users get better quotes, while the project bears the cost of route research, APIs, servers, and security—yet it’s hard to leave enough profit from each trade.
$ODOS is currently around $0.00108, down 97.8% from its all-time high. Its circulating market cap is left at roughly $1.73 million. After the operating company shuts down, the token and the DAO will remain on-chain, but “the contract is still there” doesn’t mean the product has a team maintaining it, nor does it mean the token continues to have a source of value.
Users who created an Odos wallet using social accounts or email should transfer assets or export their private keys before the shutdown. The official stance is clear: there will be no new products, no token migration, no compensation claims, and no new airdrops. Any “migration website” that appears afterward is likely just waiting for you to authorize your wallet.
In the crypto space, projects besides issuing tokens haven’t found a business line that truly generates cash flow. Even the Bitmex derivatives exchange has closed down—so what other projects can you honestly say are ready to be implemented in real life? $DOGE #Trade News: Your experience deserves to be heard
For more market analysis, project research reports, and hot-spot observations, follow MiZhi Jun. Let’s exchange and interact together—and earn money together!