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Transaction fees have surged by 97%, but $HOOD Chain is not dead!
The meme coin craze on Robinhood Chain has significantly cooled down. But should we conclude that this blockchain has failed?
A different perspective from Chetan Dugar:
59% of stock token trades occur outside Wall Street trading hours.
About 200,000 people in over 120 countries hold these stocks.
Currently, $540 million is held in loan vaults.
Even with reduced speculative capital flows, the stock tokenization market remains active.
However, there is a paradox here: Robinhood Chain aims to be a global financial infrastructure, yet key control remains concentrated in one company. Moreover, the token does not grant holders real shareholder rights.
Is the future of Robinhood Chain in RWA and tokenized stocks, or does it still depend on the next speculative bubble? The latest on-chain monitoring shows that a top-tier whale's perpetual contract positions have reshuffled again, firmly maintaining a complex hedging matrix of “BTC short + ETH long + HYPE short.” The overall unrealized P&L fluctuates sharply with market volatility, with funding rates being a key variable.
📊 Complete Position Breakdown
✅ BTC Short | 40X Full Position
Position: -180.5 BTC, position value 14,205,000 U
Entry Price: 76,800.0 U
Unrealized Profit: +124,000 U
Funding Fee Income: +225,000 U
Margin: 355,000 U, liquidation price: 102,300.15
✅ ETH Long | 25X Full Position
Position: 6,500.0 ETH, position value 15,802,000 U
Entry Price: 2,480.50 U
Unrealized Loss: -953,000 U
Funding Fee: -52,000 U
Margin: 632,000 U, liquidation price: 1,620.40
✅ HYPE Short | 5X Full Position
Position: -188,000 HYPE, position value 16,508,000 U
Entry Price: 75.200 U
Unrealized Loss: -2,806,000 U
Funding Fee Income: +854,000 U
Margin: 3,301,000 U, liquidation price: 108.65 More BTC traders are shifting to long-term holding???????
Data from November 2 shows that as of November 1, the 30-day average of active Bitcoin addresses was 629,000, down 43% from the peak of 1.1 million in December 2024, and about 10% lower than this year's average of 702,000. Historically, this indicator dropped by 50% within three months in the same period of 2018, while the current decline has lasted nearly two years with a more gradual pace.
At the same time, the 30-day average of daily Bitcoin transfers is 819,000 BTC, only down 5.4% from last December and about 5.5% above the annual average.
This reflects several points:
1. Structural differentiation: participation breadth shrinks, single transaction volume rises; retail and ordinary users exit, on-chain liquidity is dominated by institutions/whales, ETFs, and custody transfers.
2. Slower decline pace: compared to the rapid drop in activity in 2018, this round is a prolonged two-year cooling, characteristic of a long bottoming process.
3. No signs of recovery: both indicators have recently declined simultaneously, with no signs of new retail inflows on the network.
4. Narrative shift: the price battle focus is increasingly moving towards exchanges, ETFs, and derivatives, while the weight of on-chain native user activity declines.
#BTC成交萎缩，ETF买盘能否回暖 Today, the short position on Ethereum ($ETH) really gave me a hard time! Luckily, I hedged a bit with a long position on Bitcoin ($BTC) at the right spot earlier and got some blood back, otherwise it would have been all for nothing! Bitcoin finally almost touched 79,000, but then got pushed back below 78,000, even failing to hold the 4-hour EMA20! Ethereum dropped after reaching 2318 but still stayed above the short-term moving average. The bulls struggled all day but still couldn't break out! Crude oil once dropped over 4% today, Brent crude returned near $109, and there are signs of diplomatic easing between the US and Iran. US stock futures are also rebounding. The external sentiment has eased somewhat, so why is Bitcoin still so weak? I think the market is not lacking news right now, but real funds willing to chase prices! Tomorrow is the US midterm election, and the market's expectation that the Democrats will take the House is already high, putting pressure on Trump. There are also tech earnings reports, ADP, and non-farm payrolls coming up. This week is full of reasons for the market to turn! I still judge the market as weak and oscillating, but Ethereum is indeed stronger than Bitcoin in the short term. Next, watch if Bitcoin can reclaim 78,200 and truly hold above 79,150 before considering a shift to strength. For Ethereum, watch if 2270 can hold and if 2318 can be broken. Don't rush to guess the bottom or chase shorts near support levels; wait for the market to show its direction on its own! Elon Musk admits that AI agents are too costly, and revenue is barely holding up!
While aggressively expanding AI data centers, he also acknowledges that the cost of AI services is unsustainable.
On November 1, Musk responded on X to complaints from Grok Bot users:
The service cost of Grok Bot is so high relative to its revenue that it is unsustainable.
Previously, many paying users reported that their weekly usage quota for Grok Bot was exhausted early, affecting normal use.
This response exposes a real issue in the commercialization of AI agents.
Unlike ordinary chatbots, AI agents need to continuously call models, search for information, and execute tasks, consuming computing power that may far exceed that of a simple Q&A.
The more active the users, the higher the computing cost may be.
Interestingly, Musk is massively expanding AI data centers but also faces the challenge of how to make AI application revenue cover computing costs.
This is not only Grok's problem but a challenge the entire AI Agent industry must solve.
In the future, AI services may further shift to pay-per-use, limit usage quotas, or reduce inference costs through technological upgrades.
Competition in the AI industry is moving from whose model is stronger to who can actually make money.
Musk's public statement this time precisely reveals the cost pressure behind this competition. Let me rant a bit: The midterm elections are the Democrats and Republicans competing for votes in the House of Representatives and the Senate.
Polling stations close at 7 PM tomorrow, and the vote count will be completed by 4 AM the day after tomorrow.
I think everyone should pay close attention to the results. If you have bought US stocks and want to exit, tonight is the only chance to do so. The market will be closed during the day tomorrow, so trading won't be possible. The probability of a drop in US stocks tonight is very high.
Currently, it is estimated that the Democrats have a strong lead in the House of Representatives, with a predicted 92% chance of taking control. The Republicans are mainly focused on the Senate, which controls appointments and legislation.
The Trump administration is still in power. He supports virtual currencies and is friendly to crypto. The crypto industry can get the green light under him because he can make money. If the Democrats take power again, some of your bills, some exchanges, and some crypto-related matters might not pass. For example, that old lady Harris would block them.
To put it this way, in my view:
If the market drops sharply in the next few days and then hits support, and the Republicans lose the House but take the Senate, the decline will stop. If both chambers are lost, then after the election, a real crash and bearish news will follow.
If the market doesn't drop and rebounds, but the Republicans lose the House and take the Senate, it will still fall a bit. If both chambers are lost, then after the election, there will be another big crash.
Losing one chamber and gaining the other is the best outcome.
After this is over, it depends on whether Trump attacks Iran.
Will an attack on Iran face difficulties in the House?
On the path to passing crypto legislation,
Will the Senate lean towards the Democrats?
These are matters for later. Tonight, Bitcoin is expected to have a small bullish spike led by the US stock market opening. If it happens, seize the opportunity and sell your long position at 77,800 above 79,000.Capital Flow: ETFs Are Withdrawing, Whales Are Buying, but "Support Is Thinning"
ETFs—Net outflow of approximately $859 million over the past 6 trading days
The US spot BTC ETF has been continuously bleeding recently, with a single-day net outflow of $262 million, wiping out all inflows from the previous day. On Friday, there was a single-day outflow of $643 million, ending a four-day winning streak and turning the week into a net outflow of $202 million. Capital at the ETF level is systematically retreating.
Whales—Holdings rose to 3.03 million BTC, but internal division exists
CryptoQuant data shows that total BTC whale holdings have risen to 3.03 million BTC, the highest since November 2025, with a 30-day accumulation speed being the fastest since February this year. However, whales are not acting uniformly: BTC whale positions on Hyperliquid have turned net short for the first time since March this year; simultaneously, some whales sold 1,312 BTC to switch to ETH.
The most critical signal—Support below 80,000 is thinning: Glassnode’s analysis of Binance’s order book reveals that large buy orders near 80,000 have been absorbed, with new buy orders concentrated around 78,000. Although the price has returned above 78,000, support below 80,000 is thinner than before, and a break below would create a vacuum.
US government address activity: On November 1, US government-related addresses transferred a total of 6,215 BTC (about $520 million) to Coinbase Prime within 32 hours, of which 3,974 BTC came from the 2016 Bitfinex hack. The slow, batch transfers seem more like "procedural preparation," and if transfers continue, that would be a real signal.
Liquidation structure: In the past 24 hours, the entire market saw about $102 million in liquidations, with longs accounting for 67.4%. However, BTC’s liquidation structure is special—short liquidations account for 60.6%, indicating that during the consolidation process, those chasing shorts at low levels were hit more, suggesting short-term momentum for a continued rebound.
$BTC $ETH $SOL #美国中期选举在即，哪些结果值得关注？ $SOL
Today, not many people saw this Solana announcement: CVE-2026-98432, rated 9.8.
The foundation asked validators running Ubuntu to take action themselves first by blocking IPv4 TCP packets and disabling MPTCP, waiting for Ubuntu to release a fixed kernel. IoTeX also said it was affected.
On-chain security issues mostly end up impacting the price. This time is different. SOL is now at 94.12, down 0.7% in 24 hours, ranging from 93.14 to 95.89, with a volatility of less than 3 points. Spot trading volume is $55.87 million for the day, perpetual positions at 338 million, and the funding rate remains +0.01%.
No one is running away. Validators should patch as needed, and longs should keep holding. A 9.8 severity vulnerability is priced at zero by the market—either the news hasn't spread yet, or everyone understands clearly that this fix is for a machine's kernel, not the consensus layer.
I lean toward the latter. When something really goes wrong, the price first gives you a long lower shadow, not a flat day.
But I can't say for sure. The weekend market is thin; if validators get swept out, Monday will reveal the outcome.
#美国中期选举在即，哪些结果值得关注？ Brother Sun became the largest holder, but what really caught my attention was another address
Sun Yuchen holds 2.82% of the PEPE supply, worth $51.25 million, with unrealized gains exceeding $2 million. These figures have gone viral across the network. A whale openly increasing their position is certainly a signal, but what really made me put PEPE back on my watchlist was another piece of news that few people have discussed: an ancient address that had been dormant for a whole year transferred 1.45 trillion PEPE to a new wallet.
The key is how the market responded. Those two large addresses together transferred out over $10 million worth of PEPE, which should have been a warning of a sell-off, yet the price not only didn’t drop but actually rose 10.8% intraday, with 84% of the 12-hour trading volume concentrated in the last 6 hours — the buying pressure completely absorbed the selling pressure. What does this indicate? It shows that the demand depth at this level is on a completely different scale compared to six months ago. The ancient whale is moving, new funds are stepping in, Brother Sun is locking up his holdings, and the chips are transferring from "people who have held for a long time" to "people who want to hold even longer."
The market cap gap between PEPE and SHIB has narrowed to $1.06 billion, and the chase speed is visible to the naked eye. $PEPE’s current market situation isn’t about a single bullish candle; it’s about the underlying holding structure undergoing a blood change. Once this change is complete, those major psychological price levels above are just a matter of time.Memory chips are testing the market's nerve, and the pre-market mood is grim. The industry leaned on $SKHYNIX to hold the line for a single session before the offsetting decline arrived, stripping away the last bit of cover. Google has slid back toward its March lows, while $MU and $SNDK are probing support levels last defended in July. The setup is less a story about one earnings print than a stress test across memory, mega-cap platforms, and the macro calendar at once. What makes this moment iOthers ask AI "Have you spent too much?", Apple is asked "Have you spent enough?" — Tonight is Ternus' debut earnings report. 😁😁
Closing at $344.63, options imply ±4.2% (about $330–$360).
Expected revenue $113.4 billion (+11%), EPS about $2; iPhone revenue +15%.
Storage price increase, gross margin guidance about 47–48%.
Those who burn money get hit, those who burn less also have to deliver?
$AAPL $GOOGL $AMZN #Lumentum光通信业务扩张，订单表现待揭晓
Lumentum closed with a 24% premium, Marvell exchanged stock for the future—will the market accept this deal?
Let's look at the market first. Before suspension, Lumentum closed at 840.70, with the consideration equivalent to 1132 per share, a 23.9% premium.
Marvell's side looks worse: an all-stock deal, MRVL shares once dropped over 10% intraday, hitting a low near 190. In the same transaction, the seller gets a check, the buyer gets the bill—Wall Street arithmetic never shows mercy.
For Lumentum, the impact is straightforward: shareholders locked in a 23.9% premium, but they received Marvell stock, not cash, effectively tying their value to a larger AI interconnected narrative. The cost is that the independent growth story ends here; from now on, however much Lumentum’s optical modules and lasers earn, it must be diluted within Marvell’s consolidated financials.
Its own performance is not bad—Q1 revenue up 136.5% year-over-year, and next quarter guidance is strong—but after acquisition, the market will no longer assign it a "pure optical communications play" valuation premium.
For Marvell, this is a move they had to make, but the short-term numbers look ugly.
They are buying a "chip + optics" vertical closed loop—DSP, lasers, and optical modules all in one company, theoretically shortening customers’ product time-to-market, with a TAM called out at 550 billion and annual synergies over 1 billion.
The problem is, Marvell has less than 4 billion in cash on hand, and the 115 billion deal relies entirely on share issuance. $BTC October low was 76,265, and now many people place their stop losses just below it. Data tells you this position is the easiest to be swept.
OKX nearly 1000 days daily line, BTC broke below the 30-day low 63 times:
✅ Recovered on the same day 36 times, accounting for 57%
✅ Stop loss placed 0.5% below the low: hit 54 times, 28 times pulled back the same day
✅ Placed 3% below the low: hit 19 times, only 3 were false breakouts
Most of the spikes only pierce about 1% more, exactly where beginners like to place stop losses.
A more stable approach: place stop loss farther at 3%, reduce position size accordingly, single loss still controlled within 1% of principal (example: principal 10,000U, stop loss 3%, position about 3,300U, no leverage). Also, recovery ≠ reversal: among those 36 times, only 19 stayed above the low after 7 days.
Stop loss should be placed at the "I was wrong" point, not where everyone can see it.
Not investment advice | Data: OKX BTC-USDT daily line 2024/2–2026/11 #BTC continues to face pressure, divergence between capital and market trend #AMD财报前瞻：HeliosAI系统商业化进展 Global Macro Guidance from November 2 to November 8: Policy rollout, midterm elections + nonfarm payrolls take over Fed! AI chip sector faces second round of earnings tests! Fed policy direction handed over to data, energy reopens negotiation window, midterm elections determine fiscal and regulatory expectations, nonfarm payrolls decide if December rate hike can be locked in again! (On Monday, US enters daylight saving time; US stock market and macro data release and open one hour later than during daylight saving time) Pricing logic changes: #US midterm elections approaching, which outcomes are worth watching? Last week, Fed → GDP/PCE → December rate hike → US Treasury → AI giant earnings reports This week, midterm elections + US-Iran negotiations → fiscal expectations + Brent → ISM manufacturing + services + JOLTS + ADP + nonfarm payrolls → watch growth + employment + wages + inflation pressure recombine → December rate hike probability → US 2Y, UW 10Y, US 30Y → global liquidity → AI valuation, gold trend, #BTC direction Macro mainline guidance: policy exit → data takeover → political disruption → AI industry chain second validation week Mainline 1 — Fed hawkish pause, policy guidance vacuum, data to decide December policy direction! 1. Although rate hikes paused in October, the Fed described inflation as high pressure and the economy as strong; meanwhile, two Fed governors supported October hikes, combined with Wash's speech, a typical hawkish pause, with subsequent rate hike expectations actually rising 2. October's hawkishCopy trading discipline: Stop loss at 0.00175, take profit in batches at 0.0015/0.00135/0.0012.
Use 10x leverage to press position by 10-20%, survival is key to output.
Shorting reason: $SOPH surged and then fell back on the day, short at 0.001735, floating profit at 0.001526. Continuous unlocking makes bulls hesitant to follow up; if funding rate is relatively high, shorts have better cost performance; technically overbought and falling back.
Real background: Shallow circulating supply, transitioning to consumer applications (like Pyre) with revenue not yet scaled, buying pressure can't resist selling pressure, volume increase with stagnant price is a shorting point.
Future resistance at 0.00175, support at 0.0012, break below looks toward 0.001. High volatility, suitable for swing trading, holding stubbornly risks drawdown. $BTC $ETH #美国中期选举在即，哪些结果值得关注？ #加密行业协同守护资产安全 Frequent incidents of crypto asset theft, contract vulnerabilities, and phishing attacks make it difficult for any single platform to fend off risks alone; industry-wide collaborative defense is becoming a new direction. Collaborative entities include exchanges, on-chain security companies, wallet providers, public chain projects, and judicial authorities. Core actions involve blacklisting addresses, tracking funds, freezing compliant assets, sharing vulnerability intelligence, and jointly intercepting stolen funds.
Positive aspects: Collaborative defense can shorten the window for stolen funds to be moved, reduce hackers' cash-out channels, minimize user asset losses, and help improve regulatory perception of the industry, laying the groundwork for compliance advancement; institutional concerns about asset security decrease, which is beneficial for capital inflow in the mid to long term.
However, shortcomings are also prominent: cross-platform data standards are not unified, privacy conflicts with traceability; hackers continuously use mixers and cross-chain bridges to split funds, making tracking very difficult; some overseas platforms have independent jurisdiction, and willingness to cooperate varies.
Market impact tends toward long-term sentiment, with short-term difficulty in directly triggering a market surge. Key follow-ups include the number of on-chain freezing cases, whether multiple countries introduce unified asset interception regulations, and the control strength over mixing tools. $BTC $ETH $ZEC $BTC has risen for the third consecutive day, climbing to 70,086. The impact of the 6.3 billion theft on Binance seems to have been absorbed, but the ETF saw an outflow of 643 million USD in a single day. The fear and greed index is only 37; prices are rising while money is withdrawing, creating a very conflicted situation.
As for $ETH, someone really took action—one address spent 34.69 million USDC in ten minutes to buy 15,216 coins at an average price of 2,279. The price has also surpassed 2,300, which is more straightforward than BTC. $ZEC led the gains among major coins today, rising 3% to around 1,280. Smaller coins are actually more active than the big players.
At the A-share market midday, the ChiNext Index surged 3.28%, led by media, securities firms, and liquor sectors. AI video concepts hit multiple daily limit-ups, Mango Excellent Media sealed the board, and Guojin Pacific also hit the limit. Money is rapidly flowing out from last week's risk aversion.
The Hong Kong stock market's Hang Seng Tech Index closed up 2.25%, with China International Capital Corporation rising nearly 9%, Yangtze Optical Fibre and Cable exceeding 11%, as tech and securities firms jointly gained momentum. In the US pre-market, semiconductors are recovering from last Friday's sharp drop; SK Hynix rose over 5%, Nvidia up 1.4%, but oil prices collapsed, with WTI falling below 100. Money is chasing chips on one side while avoiding commodities on the other.When holding coins without moving them, you can also casually check out these opportunities. Sometimes when you open your account, you’ll find that you’ve made far fewer transactions recently. BTC and ETH are still the same, the market is watched as usual, but there’s no plan to trade daily. At times like this, I tend to pay attention to activities that complement my existing holdings. There’s no need to swap assets just to participate, and if the timing fits your schedule, it’s worth taking a closer look. OKX has just launched "Flash Earn Lite," which coincides with a BTC and ETH subscription event: after subscribing, you can receive USDT rewards, with a total prize pool of 1,000,000 USDT, including 410,000 USDT for BTC and 590,000 USDT for ETH. The event runs from November 3rd 15:00 to November 8th 15:00 (UTC+8), lasting 5 days in total. At the time of the original announcement, BTC’s expected annualized return was about 1.61%, ETH about 4%, though specifics will vary depending on participation. I think this kind of event is more suitable for those who already hold these coins. For example, if your BTC or ETH has no other use recently, you can check the subscription rules and fund arrangements to see if it fits, treating it as a small supplement during your holding period. Keep holding your coins based on your own judgment; the event is just an additional option aligned with your current plan. There is also a USDC holding event with a prize pool of 400,000 USDC, lasting longer—from November 3rd 08:00 to December 3rd 07:59 (UTC+8). This one does not require subscription or staking but is aimed at qualifying trading VIPs, who need to register and meet the requirements.Brothers, this $ZEC rebound is something else! It forcefully pulled back from the low of 1210 dollars to above 1270, gaining over 5 points intraday.
The funniest part is, two huge whales didn’t bottom-fish at the low at all; instead, they chased hard only after seeing the price rise! They dumped over 23 million dollars in to open new long positions. Especially the second guy, who averaged in at 1256, now floating a profit of over a hundred thousand dollars, and casually bought 1.5 million dollars worth of XMR—are they betting that the privacy sector is about to make moves?
But looking at the position chart, the big players are like gods fighting; although some are going long, the top few short positions worth tens of millions of dollars are still holding strong, and open interest keeps rising. This long-short battle is making people sweat in their palms.Binance hackers say there is no impact on the market, but that's impossible. On my own dashboard, Binance's trading volume today is actually on par with the weekend.
Previously, only on weekends, when market makers were off work, the daily trading volume was basically always above 20 billion.Bitcoin didn't follow the usual October script this time. According to this Cointelegraph report, in October 2026, $BTC dropped 7.3%, having also closed lower in October the previous year. A historically strong month in terms of returns, delivering declines for two consecutive years, analysts are beginning to reassess the seasonal signals.
After reading it, I feel that what should be cooled down in this story is not Bitcoin itself, but the expectation that "it should rise in October." Just because the calendar turns to a familiar page doesn't mean the market has to follow the old script.
The reason is not complicated: historical returns describe the past and cannot directly explain current buying and selling forces; two consecutive years of failure at this pattern at least indicate that the monthly label cannot be used alone as a judgment basis; but two declines are also insufficient to prove that seasonality has completely disappeared. Rushing to declare the old rule dead is also telling a big story with a small sample.
For someone like me who follows information, the implication is not to treat statistical habits as market promises. My speculation is that if everyone reduces their reliance on monthly labels, discussions might return more to factors that actually influence price. What do you think? Will the story end with the October effect gradually being forgotten, or will it show strong performance again in the future, and everyone will welcome it back?My first reaction is to calculate the supply and demand balance: no matter how large the buy orders are, you have to see how many chips are coming out on the other side. It's easy to get carried away just by looking at the price increase; I pay more attention to whether the new demand can be sustained.
The 21shares report shows that $BTC rose 42.7% in Q3, with US spot ETFs net increasing holdings by 79,800 coins, nearly twice the newly mined supply of 41,300 coins during the same period, replacing Bitcoin reserve companies as the main source of demand. However, long-term holders reduced their holdings by 248,000 coins in the same period, nearly three times the ETF's increase.
My judgment is that demand is supported, but ETFs cannot be considered a guarantee for steady price increases. Their strong ability to absorb new supply does not mean they can cover the outflow of existing chips; a shift in buyer focus also does not mean demand only increases without decrease. If ETF inflows slow down, I speculate that market absorption will be more challenged. Between stability and risk, I choose to be more stable, watching the sustainability of capital flows next, and not using a single quarter's price increase to boost my confidence.The amount of Bitcoin held per share has dropped by 3.7% this year, which catches my attention more than the target price. I used to easily interpret "the company holds more coins" as "shareholders benefit more," overlooking the per-share metric. Honestly, just focusing on big numbers makes it easy for the mind to find optimistic reasons for itself.
This time, Mizuho maintained its Strategy rating and target price, and the materials also mentioned a decrease in net leverage and that cash can cover expenses for a period. I think the improvement in financial buffer is a good thing, but it cannot overshadow changes in per-share metrics: the company's total coin holdings and how many coins correspond to each share are two different things. Ordinary people most easily mistake the upside potential in stock research reports as a directional signal for coin prices, which is too big a leap.
Now I follow two rules: when looking at coin-holding companies, first check the per-share metric; do not use stock target prices as a basis for contract opening. Has anyone ever gotten carried away thinking "the company holds more coins" is a positive? Would you be willing to share a rule to avoid chasing hype?A 10 ETH refund bug unexpectedly delayed Binance hacker's fund transfer 🧊
According to THORChain's statement on November 1 and crypto.news report:
🔹 On October 31 at 19:34 (Beijing time), an Ethereum block reorganization occurred, causing a 10 ETH deposit to disappear from the main chain
🔹 THORChain had accounted for this transaction, refunding if the exchange didn't meet the user's set price, resulting in an overpayment of 10 ETH from a vault that never actually received the funds
🔹 The automatic repayment check detected the discrepancy, first halting ETH exchanges; within about 2 minutes, nodes stopped signing ETH outgoing transactions, followed by suspension of exchanges on 10 chains including BTC and SOL
🔹 The extra 10 ETH was returned
🔹 Chainalysis said this pause incidentally slowed down the cross-chain transfer of stolen Binance funds
My views:
1️⃣ When Bitget was hacked in September, THORChain refused to blacklist hacker addresses, saying emergency suspension was only to protect the network. This time, the hacker was stopped by a bug, not a stance
2️⃣ Nodes can stop 10 chains, indicating that "decentralized" protocols have switches in emergencies; users of cross-chain tools should be aware
3️⃣ A single block reorganization can cause the protocol to overpay; large cross-chain amounts shouldn't be pushed all at once, splitting batches is safer
Have you used cross-chain exchanges? Are you more concerned about them being paused or about bugs?
Personal opinion, not investment advice #With the US midterm elections approaching, which results are worth paying attention to? Impact on the macroeconomy? Impact on $BTC?
The core suspense of the US midterm elections lies in the control of Congress. The baseline scenario is the Democrats taking the House of Representatives, while the Republicans barely hold the Senate, resulting in a "split Congress."
For the macroeconomy, the election result itself is not the most important; the key is the resolution of policy uncertainty. A divided government will block large-scale fiscal expansion, marginally easing upward pressure on US Treasury yields, which is favorable for valuations. However, economic growth, inflation, and Federal Reserve policy remain the true main themes for medium- to long-term asset pricing, and the election does not change this logic.
For BTC, the direct impact of the election is limited; it is more about risk appetite recovery after the "boot drops." The crypto legislation "CLARITY Act" has stalled in the Senate, and the Democrats taking the House will only further delay the market structure legislation process. However, the SEC's existing interpretative regulatory framework will not be automatically overturned by a change in Congress control, and the administration's crypto-friendly inclination still provides a bottom support. Historical data shows that BTC has risen in the 12 months following the last three midterm elections, but the peculiarity of 2026 is that the price pullback from the peak is relatively shallow, and the cycle position explains the trend better than party victories. What truly matters is not who wins, but whether the market can refocus on liquidity expectations once uncertainty disappears. $XRP Franklin Fund's on-chain holdings have quadrupled, yet XRP spot price has quietly dropped by over ten points.
The busier the chain, the more honest the sell orders on the order book.
Institutions putting assets on-chain won't be sweeping XRP in the secondary market.
Retail investors rush in seeing the ecosystem boom, conveniently providing liquidity for distributions from above.
Without spot buy orders to support the price, this kind of positive news is all inflated.
#XRP
$XRP
👇$SOPH SOPH's mainnet will be shut down directly at the end of November, with withdrawals closing on the 25th, and Upbit also announced delisting on the 16th. The top ten addresses on the chain hold 90% of the tokens, so what kind of transformation or buyback can you expect? The mainnet is gone, the foundation has been completely drained, and the recent small rebound was just a window left for an exit.
With such highly concentrated tokens and no major exchange liquidity support, anyone still daring to bottom-fish in this market really thinks they are the real market maker.
#SOPH
$SOPH
👇$ETH slowly climbed back above 2266 after stopping its decline at the 0.618 retracement level of 2220. The market indeed shows signs of capital absorption, and selling pressure has temporarily dulled. However, the real variable determining the direction is not on-chain but in the US stock market—last week, US tech stocks plunged 30%, and the gains of the seven major tech giants over five trading days were wiped out in a single Friday. This detail is more alarming than any candlestick pattern: the volatility structure of the US stock market is converging toward altcoins, with intraday amplitude sharply increasing and trend continuity repeatedly interrupted. This means crypto assets are unlikely to remain unaffected. My judgment is that $ETH will most likely enter a synchronized adjustment following the rhythm of the US stock market, rather than developing an independent trend. Tech stocks have already been cut in half; if they continue to decline, that will be the position to build a cash-averaged entry—cheapness is the only reason. Therefore, the current strategy is not to guess the bottom but to reduce leverage, save ammunition, and adjust the position structure to withstand both "takeoff or crash" outcomes. The reaction of the US stock market at Monday's open will be the true confirmation signal for this round of $ETH direction. One underestimated point by the market is that many are still explaining $ETH's stop in decline by crypto's own liquidity, ignoring that the wealth effect of the US tech sector is inversely draining risk appetite. When the market cap fluctuations of the seven giants can evaporate five days' gains in one day, marginal capital tolerance for high-volatility assets will simultaneously decrease, with $ETH as a high Beta asset taking the brunt. Conversely, once the US stock market stabilizes, $ETH's recovery elasticity will also be amplified—this is a symmetrical leverage, not a one-way street.$SNDK Direction: Short
· Entry: Short when the rebound is resisted around 1180 - 1185.
· Stop Loss: Firmly stop loss if it breaks through 1195.
· Take Profit: First target 1152 (near previous low), second target 1140.
⚠️ Note: After a surge, there is a clear pullback, MACD shows a high-level death cross with expanding green bars, indicating a short-term downward adjustment phase. Do not chase shorts directly; wait for rebound confirmation of resistance, use light positions with stop loss.
Today in the OKX community, I saw an article titled "System Explanation - Position Asymmetry Strategy." The author's conclusion: ignore price, only watch MACD direction changes; go long on a bullish crossover, short on a bearish crossover; take half profit, add position after a loss; overall, always take full profit.
I broke this sentence down into executable rules and ran them through OKX official candlesticks for BTC, ETH, and the author's own picks KORU / SOXL / SNXX — about 100,000 candlesticks in total.
Key points:
1. On his three targets, 4H timeframe indeed makes a profit (+13.6% ~ +19.3%, 3.6~5 months); but applying the same rules on 1H timeframe, starting with his suggested 6,000 position size, SOXL and SNXX both blew up (-113% / -120%).
2. MACD itself does not make money: fixing position size at 1,000, the three targets basically stayed flat (+374 ~ +830), and BTC/ETH even showed negative returns. The profit comes from "adding positions after losses."
3. His record table is not backtesting. Profit rows are recorded by "target yield" (17.85 long, 17.82 flat, still recorded as +25%), loss rows are recorded by actual price. This is not falsification, but the difference between a replay table and backtesting — and the difference is significant.
1. Rule reproduction
The original rules are specific enough to be directly coded:
- Signal: MACD(12,$BTC has risen for the third consecutive day, climbing to 70,086. The impact of the 6.3 billion theft on Binance seems to have been absorbed, but the ETF saw an outflow of 643 million USD in a single day. The fear and greed index is only 37; prices are rising while money is withdrawing, creating a very conflicted situation.
As for $ETH, someone really took action—one address spent 34.69 million USDC in ten minutes to buy 15,216 coins at an average price of 2,279. The price has also surpassed 2,300, which is more straightforward than BTC. $ZEC led the gains among major coins today, rising 3% to around 1,280. Smaller coins are actually more active than the big players.
At the A-share market midday, the ChiNext Index surged 3.28%, led by media, securities firms, and liquor sectors. AI video concepts hit multiple daily limit-ups, Mango Excellent Media sealed the board, and Guojin Pacific also hit the limit. Money is rapidly flowing out from last week's risk aversion.
The Hong Kong stock market's Hang Seng Tech Index closed up 2.25%, with China International Capital Corporation rising nearly 9%, Yangtze Optical Fibre and Cable exceeding 11%, as tech and securities firms jointly gained momentum. In the US pre-market, semiconductors are recovering from last Friday's sharp drop; SK Hynix rose over 5%, Nvidia up 1.4%, but oil prices collapsed, with WTI falling below 100. Money is chasing chips on one side while avoiding commodities on the other.Rallied then fell back, the high point lowered again.
Don't be fooled by the continuous small bullish candles these past two days; the rebound is not a reversal.
Look at this 4-hour chart, $ETH dropped all the way from 2538, this time it barely rebounded to 2318, but it softened again without even touching the resistance of the moving average above.
Look closely at the volume below: volume increases during the decline and shrinks during the rebound, indicating that there is no incremental capital entering to buy the dip.
Above are all trapped positions waiting to be freed; without capital driving it, this volume-less rebound is a typical technical correction, and it might even be a bull trap.
The logic is simple: the major downtrend hasn't changed, every rebound is an opportunity to short.
Next strategy: don't rush to short. Patiently wait for it to test higher; as long as it reaches the resistance zone between 2300 - 2320 and can't push higher, that's an excellent entry point.
Looking downwards, first watch for a break below the 2200 round number; once broken, it will likely test the previous low at 2174.
Go with the trend, don't catch a falling knife against the trend.
$BTC
$ZEC
#美国中期选举在即，哪些结果值得关注？ Here's something a bit absurd. Binance's hot wallet was stolen of $6.3 billion, and my first reaction was witnessing history. Yet $BTC dropped 7.2% in October, and 3.8% last year — this year's drop is actually considered "progress."
What's even more ridiculous is the market. In November 2022, when FTX collapsed, it dropped 23% in a week, the whole network was wailing, and everyone in the group was asking whether to liquidate. This time, with $6.3 billion stolen, the price just hovered around the annual moving average, without even a decent breakdown.
Is the market getting stronger, or have we just become numb to bad news? I lean towards the latter. After all, the money isn't ours; it's covered by Binance SAFU and their own funds.The most dangerous thing before opening the chest has never been the patient who is already brain dead, but the high-metabolism heart on the monitor that looks perfect but goes into ventricular fibrillation at the slightest touch during surgery.
Palantir is exactly this kind of patient now. 93% year-over-year revenue growth, 149% surge in U.S. commercial revenue, followed by an upward revision of the full-year guidance. Reading these vital signs, it’s a high-output circulation: extremely high cardiac output, warm limbs, sufficient urine output. Young doctors would applaud seeing such data, but I just want to ask: is this physiological exercise tolerance, or compensatory high output in early sepsis?
The difference lies in oxygen consumption. A high valuation means this target is being perfused by the market with extremely high metabolic demand; every penny of revenue growth must immediately convert into orders and profits. Any slowdown in growth will be treated as a drop in perfusion pressure, and high-metabolism tissue is the least tolerant of ischemia. Coronary arteries don’t grow collateral vessels just because the patient is young.
The real preoperative assessment is not about growth rate but structure. I tend to see the 149% expansion in U.S. commercial revenue as a neovascular angiogram: blood flow is indeed coming in, but the new vessels are fragile, leaky, and prone to thrombosis at any time. It requires repeated verification: is the Q3 order book still expanding (preload), is there valve regurgitation in customer retention and net expansion rate, and does operating leverage reduce myocardial oxygen consumption relative to work done? Revenue is flow, profit is pressure, and free cash flow is the true myocardial perfusion.
There is also a detail easily overlooked: raising guidance is equivalent to intraoperative infusion of positive inotropic drugs. Blood pressure looks good while the drugs are on; once they wear off, it becomes clear that the myocardium’s contractility itself has not improved. And the current pricing already charges this surgery as if it will be "successfully weaned off the machine."
So I don’t care if Q3 beats expectations. What I care about is the shape of the growth curve: is it a sinus rhythm that can be smoothly extubated, or a widening QRS complex—still beating on the surface but with a conduction system already damaged?
I only look at two lines in the anesthesia record: input and output. Input is orders, output is free cash flow. If they don’t match, it’s hidden blood loss.
As for valuation, this blood pressure reading never tells you how much longer the heart can hold on, only how long it has already held on.
I have seen too many such hearts: everyone says they look good before cutting, but after opening, there is nowhere to insert the needle. #palantirq3valuationOctober closed down 7.2%, marking the second consecutive year Bitcoin lost money in this month, compared to 3.8% last year. Looking at the numbers alone, the story is quite plain—a seasonal weakness arrived as expected.
But October this year should have looked worse. On October 29, Binance's hot wallet assets were stolen, with losses of about $6.3 billion, an amount large enough to trigger a market stampede in any year.
What’s worth pondering is the price reaction. After the incident, $BTC remained near the annual moving average without a trend-breaking move. In contrast, during the FTX collapse in November 2022, the market dropped 23% within a week. Both were shocks to exchange trust, but this time the decline was an order of magnitude smaller.
The difference is not in the severity of the event, but in who bears the loss. In the FTX case, customer assets disappeared directly, causing spontaneous panic with no way to hedge; this time, Binance absorbed the losses through the SAFU fund and its own capital, with bad debts absorbed internally, not passed on to user balances, thus no forced selling occurred.
What the $6.3 billion effectively bought was an answer: if the exchange is willing to bear the loss, the market doesn’t have to price it in. This explains why the price could stay stable near the moving average.
One point to consider here: is this market maturity, or has the risk just been shifted elsewhere? SAFU and own capital are not infinite; they merely convert an immediate shock into a chronic drain on the balance sheet. $BTC not falling now doesn’t mean the accounts have been settled.Hacker aftershocks have not subsided, the bottom is a divergence
BTC 78,350 (+1.05%), ETH 2,275 (+0.88%). After the Binance incident, the weekend consolidated between 77K-78K, with a fear and greed index of 37.
Capital flow: ETFs selling, whales buying. BTC ETFs have recently seen a cumulative outflow of 859 million, but on-chain whale holdings are growing at the fastest pace since February; ETH ETFs have had 23 consecutive days of outflows, but whales have bought over 100 million on dips. The bottom reflects capital divergence, not a unilateral consensus.
Leverage: The liquidation stampede is nearing its end. 24h liquidations have sharply dropped to 48.72 million, longs and shorts are balancing, and unilateral clearing has ended. However, funding rates are near zero, and bullish willingness is weak.
Whale divergence: Some bought 7,703 ETH, while others opened 20,000 short positions, indicating intense long-short battles.
Technical analysis:
BTC: 76K-77K is the grinding bottom support; 78K needs to be reclaimed, and only stabilizing above 78.6K counts as improvement.
ETH: Support at 2,200-2,213, resistance at 2,295 above; only reclaiming 2,279 counts as recovery.
Macro: The November 3 midterm elections and November 6 non-farm payrolls will determine the pace of December rate hikes, increasing volatility.
In short: The most intense leverage liquidation has passed; the rebound is an oversold correction. Do not chase longs; wait for BTC to stabilize at 76K-77K or break above 78.6K with volume, and for ETH to reclaim 2,279 before lightly testing longs. Control positions before macro events materialize. The storage chain got hit again, so I held my hand down first 🫧 Is this wave really "digging a pit to trap people" or "digging a pit to offer opportunities"? When I checked the market this morning, SNDK continued to weaken. Yesterday, the storage chain was propped up solely by Hynix, but today it couldn't avoid a catch-up drop. Micron and SanDisk both retreated back to the July resistance wall, wiping out most of the previous rebound. Honestly, watching my account fluctuate, I turned off leverage; the moment I stopped trading felt more comfortable than chasing orders. What concerns me more isn't where the bottom is, but what the market is actually trading now. On the surface, storage is weakening, but underneath, it's actually repricing the "December policy divergence + official hawkish bias," which has suppressed risk appetite by a notch. The emphasis on asset security in crypto has also increased. At times like this, the easiest thing to overlook is: everyone is focused on the fog before November 3rd, but they might not notice that once the repeatedly tested support truly breaks, the speed of decline is often faster than expected. There is also a bullish path: at this level, short-term repairs in SKHYNIX and SNDK are not surprising; if crude oil CL falls back, risk assets can catch a breather, and the sentiment for BTC and ETH will ease a bit, allowing altcoins to talk about rotation. But conversely, if policy signals continue to tighten, the rebound in the storage chain is most likely just a window to reduce positions, not a reversal starting point. My approach is to try small positions, test in batches, avoid leverage, and consider adding only when the news becomes clear—provided there are still bullets left in the pocket. Left side fight Pouring $225 billion into the foundation pit, yet hearing the dull cracking sound of free cash flow within the load-bearing walls—that's the exact sound I, as a structural engineer, am most familiar with when S&P downgraded Meta from stable to negative.
The AA- rating still stands, like the main structure's acceptance stamp hasn't been revoked, but the settlement monitoring points have been continuously alarming. Capital expenditures in 2027 exceed $225 billion, with a free operating cash flow gap of about $71 billion. This isn't expansion; it's putting the entire skyscraper's foundation budget on the core tube that hasn't finished pouring. The blueprint can reach the clouds, but the concrete curing period won't shorten a single day just because the PPT looks good. The rebar cage for AI infrastructure is getting denser, but if the cash flow—the main load-bearing column—starts to honeycomb and crack, every additional floor on the upper structure is testing the ultimate load.
Broadcom's outlook was revised from positive back to stable, honestly citing AI customer concentration risk. Translated into structural terms, the entire building's vertical load rests on a single column, and no matter how large the column's cross-section, the shear transfer at the joint can't withstand a single customer's lease termination. Oracle was previously downgraded to BBB-, a typical cantilever debt financing structure—the farther the eaves extend, the greater the root bending moment, and the basement's tension piles haven't been completed yet.
The Apple target $xAAPL reflected on the chain is like a relatively regular frame structure standing nearby, but the soil layers of the entire AI building complex are reconsolidating. Apple's own product foundation is deep enough, but when three nearby towers simultaneously lower groundwater, no one can avoid the internal force redistribution of adjacent foundations. The market reads credit spreads as settlement joints, but real cracks often appear in the middle of the floor slabs people think are the strongest. The tower cranes for capital expenditures are dense, but if the scaffolding for financing needs is dismantled too early, the exposed floor slabs must rely on their own stiffness to resist wind loads.
Whether cash flow can support financing essentially asks if this building has enough shear walls to resist lateral forces. Meta's negative outlook isn't about the main structure collapsing; it's that weak interlayer in the geotechnical report, long ignored, has finally been drilled out. #metanegativeoutlook #Palantir财报前瞻：高增长能否支撑高估值
Anthropic's revenue growth of 1300% in the first half of the year is real, but there's a mismatch here: rapid revenue growth doesn't mean customers will keep spending like this.
The market looks big, but it's actually hollow. The top 1% of enterprise clients contribute nearly half of the B2B spending; only a small handful are truly paying. Enterprise adoption leveled off by September, new customer acquisition has slowed, so future growth depends on existing clients spending more—how long can that last?
Moreover, this growth is driven by price cuts. Token prices have halved year-over-year, revenue went up, but the pressure from compute costs hasn't eased at all. The real killer is the 2045 line: they've signed compute purchase agreements worth $637 billion, of which $431 billion is mandatory minimum spend—whether clients pay or not, the bill must be covered. The prospectus itself admits they may need a new round of financing sooner than expected.
So how long can clients keep paying? It depends on two things: whether that top 1% of big clients will cut budgets, and how long the price-cut-for-volume game can continue. BlackRock is already signaling that Anthropic will likely not get an investment-grade rating after going public. Even lenders think the numbers don't add up; who can guarantee clients' willingness to pay will last until 2045? Very few."Five moving averages, all above the price"
Bitcoin is currently at 78,337, up 1.04% in 24 hours, with an intraday range of 77,608 to 78,524—about nine hundred points moved throughout the day.
But looking at it through the moving averages, the situation is straightforward: 7-day at 78,822, 12-day EMA at 79,465, 20-day at 80,688, 26-day EMA at 80,599, 50-day at 82,009. All five lines, without exception, are above the current price.
This is not just "close to resistance"; it indicates that over the past one to two months, the prices the market was willing to pay were all higher than now. The only exception is the 200-day moving average at 73,212—the current price is still 5,000 above it, so the long-term bottom hasn't been broken, but it's too far away to provide short-term support.
Momentum also points in the same direction: RSI at 38.94, below the neutral line but not yet at 30; stochastic indicators %K at 21.95 and %D at 17.56, both below 20; Bollinger Band %B at 0.1611, close to the lower band. None of these four indicators show "oversold reversal," only that the price "is still moving downward."
One notable point on capital: Glassnode estimates that the average holding cost of the US spot BTC ETF is about $81,500, with the current price 4.15% lower—ETF investors are overall at a floating loss. Meanwhile, Strategy holds 848,517 coins at an average price of 75,446, still floating a 3.54% profit. These two institutional cost lines sandwich the price in between.
Sector performance is more differentiated: CeFi +1.34% (OKB +2.72%), Layer1 +0.35%; but AI -1.61%, DeFi -0.75%, Layer2 -0.34%, with total market cap down 3.25%. The gainers are the trading venues themselves, while the narrative sectors are down.
The liquidation heatmap gives tomorrow’s coordinates: a dense short zone above at 78,500–79,000, and a dense long zone below at 76,950–77,600, both about 1% away from the current price. This is a structure where either side could be triggered at any time.
Discussion: Five moving averages pressing down—are the shorts "discovering the price," or are the longs "waiting for a reason"?
I lean toward the former. Moving averages reflect past buying costs, not impenetrable barriers—every rebound now meets with stop-loss sellers, which is the hardest part to digest.
Poll: Which side do you think will be triggered first—A. Shorts above at 78,500–79,000; B. Longs below at 76,950–77,600; C. Both sides together, first a fake breakout then reversal; D. Neither, waiting for election results.
I choose C. With liquidation zones about 1% on both sides, a fake move is most likely to happen first.
Not investment advice, risk at your own discretion. #MarketAnalysis $BTC $OKBThis is the BTC Ahr999 bottom-fishing indicator chart. This indicator implies the short-term dollar-cost averaging return rate of $BTC and the deviation between BTC price and its expected valuation.
In recent days, the indicator has dropped as low as 0.44, breaking below the 0.45 red line once again. The latest data shows that on November 2nd, the indicator returned to 0.4616, corresponding to a BTC price of $78.3k. A few days ago, when the indicator was hovering around 0.45, BTC's lowest price had actually touched $76.3k.
Looking back at the areas marked with red circles in the chart, all of them represent the darkest moments when the indicator fell below 0.45. At the end of 2018, early 2020, and the 2022 bear market bottom, these moments looked like bottomless pits at the time, but when viewed over a longer period, they were all golden opportunities to pick up bloodied chips.
The principle is simple, but the actual operation is extremely counterintuitive. This tool is only suitable for holding BTC spot and enduring with plenty of time and patience. If you try to use this indicator to leverage contracts, the market makers will teach you a lesson in minutes—one sharp spike and you'll get liquidated.
Frankly, this indicator is just a range reference. Falling below 0.45 means entering the so-called strike zone, but it doesn't mean it will immediately rise; it might still hover near the bottom and annoy you. In the current market, it's fine to accumulate spot positions gradually, but never go all-in impulsively.
The logic is easy to understand, but execution is difficult. Every time the price drops and everyone panics, that's often when the opportunity looks most like an opportunity. Unfortunately, most people have already cut losses and fled by then—that's human nature.Top platform in prediction markets, but how many unknown issues does it really have? If you only look at trading volume, funding valuation, and social media exposure, Polymarket is undoubtedly one of the most watched platforms in the prediction market space. But if you truly delve into its development process, you'll find that this platform has been accompanied by quite a few controversies along the way. Today, I won't talk about its market size, but rather from the perspective of an actual participant, discuss some issues about Polymarket that deserve attention. 1. Marketing fraud: The so-called huge profits may not exist at all. In June 2026, The Wall Street Journal disclosed an investigation into Polymarket's marketing activities. The report pointed out that Polymarket had cooperated with marketing teams to have social media creators simulate bets on fake trading websites, then film videos of themselves earning huge profits. The Wall Street Journal reviewed 1,105 videos, among which about $1.9 million in bets shown were not real trades. Moreover, 118 videos showed nearly $900,000 in fictitious profits, while according to real market data, these trades would actually have lost more than $166,000. The entire promotional campaign garnered over 140 million views. I believe the most questionable thing here is not the marketing itself, but why a prediction market platform needs to attract users through fictitious profits? 2. Decimal precision and order system: Users want to sell, but may not even be able to submit orders. I have personally experienced this point as well 💥Crude oil plummets below 100, gold remains resilient against the trend! Extreme divergence in commodities, who should Bitcoin listen to? Brothers, take a look at these three market charts; commodities are experiencing extreme divergence, which is a key signal determining Bitcoin's next move! First, look at crude oil, it's plunging rapidly. WTI crude oil (CL) has directly fallen below the $100 mark, dropping nearly 3%; Brent crude oil (BZ) also sharply declined, losing the $109 level. The strangest part is the info on the chart stating "Strait of Hormuz disruption consumed global inventories," which is clearly a major supply-side positive, yet oil prices are crashing. The RSI7 indicator has even been smashed down to extreme oversold zones at 15 and 23! From an expert perspective, this is definitely not a normal correction but rather early bulls cashing out profits frantically or big money pre-trading "demand recession." Extreme oversold conditions may trigger technical rebounds anytime, but don't blindly catch the falling knife! Next, look at gold, XAUT slightly rose 0.6% to $3898, with MACD showing a golden cross near the zero line. While funds avoid crude oil, they still choose gold for hedging. What does this mean for our crypto circle? First, if the oil price drop is due to "demand recession," global risk assets will suffer, and Bitcoin faces heavy resistance at the 78,000 level. Second, if it's merely supply-side maneuvering, the oil price decline can lower inflation expectations, which is actually good for the Fed to cut rates and beneficial for Bitcoin. Next week is the ultimate test with non-farm payroll data and the Fed decision, and commodity volatility is sharplyThe Binance incident happened a few days ago, and $BTC has basically stabilized around 78,000, but the movements of the underlying funds are quite interesting. ETFs saw an outflow of 643 million USD last Friday, the largest single-day outflow since October, but IBIT bucked the trend by absorbing 177 million USD. The accumulation speed of large whale addresses is still the fastest since February [reference:0]. On one hand, ETFs are selling, on the other, big holders are buying; the money hasn't left, it just changed pockets. $ETH is a bit weaker, hovering around 2250, with ETH ETFs losing value for five consecutive days. Institutions clearly only recognize BTC, not ETH.
The A-shares market really expanded today, with a volume of 1.78 trillion, 109.2 billion more than last Friday. The ChiNext Index closed up 1.87%, with over a hundred stocks hitting the daily limit. AI manga and short drama media are the absolute stars, with Jieceng, Mango Excellent Media, and Guomai Culture all surging by 20cm in volume. In big finance, Guojin and Pacific Securities also hit the limit, and Baijiu stocks joined the rally. Money is rushing out of safe havens quite urgently.
The Hong Kong Hang Seng Tech Index closed up 2.25%, with Yuewen up over 15%, Xiaomi, Alibaba, and Kuaishou all rising together. Media and semiconductor sectors are both pulling up. In the US pre-market, semiconductors are correcting; SK Hynix rose about 4.5%, $NVDA up 1.36%, but oil prices collapsed, with WTI falling below 100 intraday, while gold climbed back to 3900. It's quite contradictory, chasing chips while avoiding commodities.70 billion market cap wiped out: Another veteran giant has gone bankrupt
Getty Images. When it went public in 2022, its market cap once exceeded 11 billion USD, about 73 billion RMB. Last week, it officially filed for bankruptcy restructuring, wiping out the equity of old shareholders.
On the surface, it looks like AI knocked it down, but AI was just the last straw. Getty made its living selling licensed images, charging around ten dollars per license, while AI-generated images cost just a few cents. General stock photo clients directly use models to generate images. Creative images account for more than half of its revenue, and subscription users dropped from 321,000 to 241,000.
The real killer was debt. As of June 2026, total debt was about 2.1 billion USD, with only 51.6 million in cash on hand. In the first half of the year, interest payments alone exceeded 110 million. The merger with Shutterstock to save itself also failed; UK regulators imposed conditions that were not agreed upon, burning over 100 million in cash.
It wasn’t knocked out by AI in one punch. When AI changed the demand structure, the debt had already piled up to the neck. Once revenue loosened and cash flow was cut off, the whole structure collapsed. "Everything is fine" CORE: vulnerabilities fixed only to reappear, contributors leaving one after another, only announcements remain perpetually healthy
In early September, Core DAO experienced a reward vulnerability causing a few validators to receive excess tokens. The official response was a hard fork fix, destroying about 150 million excess tokens issued, but confirmed transactions were not rolled back, and the excess CORE tokens were not forcibly reclaimed. Exchanges like Coinbase and Bitget simultaneously suspended deposits and withdrawals, directly cutting off liquidity.
More critically, CORE is driven by anonymous contributors, with an opaque team identity, and tokens are continuously released via linear unlocking. When ecosystem buybacks can't outpace unlocking sell pressure, and announcements always claim "the network is fine" while prices keep hitting new lows, trust erodes like chronic bleeding.
It may not go to zero immediately, but it is already in a "semi-zombie" state.$ZEC : Internal conflicts within the Zcash ecosystem have put major holders in an increasingly difficult position. The community's decision to redirect development funds toward charitable activities has sparked controversy, reportedly upsetting influential figures such as Naval and the Winklevoss twins. Meanwhile, several large holders are expressing intentions to liquidate their positions. Following an impressive 700% rally earlier this year, substantial unrealized profits have accumulated. HowLooking at Meta's cash flow statement for Q3, there's a change more direct than the financing headline: no common stock repurchases this quarter, whereas about $3.3 billion was repurchased in the same period last year.
For shareholders, the change in capital allocation has already occurred. The company is retaining more resources for expansion, reducing the intensity of returning funds through buybacks in the short term.
This is also one perspective on understanding the credit outlook downgrade. Rating agencies worry about future spending and cash flow, while shareholders need to judge whether reducing current returns in exchange for future AI business growth is worthwhile.
Pausing buybacks can certainly preserve funds and is a reasonable choice when necessary. But if the scale of investment continues to expand, relying solely on fewer buybacks may not be enough to cover all needs. How to arrange spending, financing, and shareholder returns afterward will become increasingly difficult to balance.
I do not want the company to give up valuable investments just to maintain buybacks. But management also needs to gradually provide evidence to show shareholders what results these investments are producing.
Meta has a mature advertising business, which is an advantage; precisely because the existing business is already profitable, the return requirements for new investments should not be relaxed.
The coming years can be grand in vision, but the funds in the account must be paid out bit by bit. Regarding this round of AI expansion, I will remain hopeful but also carefully observe what shareholders have temporarily given up for the sake of expansion.
#Meta信用展望转负，AI投资信用风险受关注 97 million $CORE tokens stolen, official response: the network is operating normally. Translation: Your coins are gone, but the chain is still running.
Although this statement is harsh, it accurately summarizes the embarrassment of the Core DAO September excessive token claim incident.
As of November 2, CORE is priced at about $0.014, down more than 99% from its all-time high, with a circulating market cap of only about $14 million.
In early September, Core DAO exposed a reward vulnerability where a few validators received CORE rewards far exceeding the protocol's set amount. The official team then initiated a hard fork fix, destroying about 150 million excessively issued tokens, and emphasized "user asset security."
But the problems are:
No rollback of confirmed transactions: The tokens claimed in violation were not forcibly recovered, only the excessive issuance was stopped.
The scale of over-issuance is not fully transparent: The official team has yet to disclose the duration of the vulnerability or whether any chips have entered the secondary market.
Exchanges suspended deposits and withdrawals: Five major platforms including Coinbase, Bithumb, and Bitget simultaneously restricted operations, directly cutting off liquidity.
Trust has been damaged: The excessive token claims by validators are essentially a consensus layer vulnerability, more fatal than ordinary DeFi attacks.
The subtext of "the network is operating normally" is: the chain hasn't stopped, but trust has. When a public chain can't even control its own reward distribution, no narrative can sustain the price.